wph••
THE PAROCHIAL CHURCH COUNCIL OF
St STEPHEN and St THOMAS
LONDON W12
Registered Charity No. 1133759
ANNUAL REPORT OF THE TRUSTEES
and
FINANCIAL STATEMENTS
for the Year Ended
31" December 2023

Thi5wge int￿￿OnallY14￿

St Stephen and St Thomas Church
ANIYUAL REPORT
for the Year Ended 3]" December 2023
Charity Details
Name.. St Stephen and St Th01n￿ Church
Registered charity number: 1133759
Principal AddT¢SS:
St Stephen's Vicarage
I Coverdale Road
Shepherd's Bush
London W12 8JJ
Independent Ex*mlner
Olufemi L&deinde ACMA. CGMA
8 Gate Sireel
London
WC2A 3HP
Bankers
St Siephen andsr Thomof
HSBC plc
21 Kings Mall
King Street
London W6 OQF
Administrative inforniation
The P4rochi41 Church Council (PCC) is constituted under the Parochial Church Councils (Powers)
Measure 1956 as amende( as the body charged with rurffting the activities of the Parish church and
promoting in the parish the whole mission of the Church. The Pa￿￿hla1 Church Council is registered
as a charity with the Charity commissio￿ The ￿gIStered number is 1133759. and the date of
registration was 26 January 2010.
The Parish of St Stephen and St Thomas is one of 20 Parishes in the Deanery of Hammersmith and
Fuibam, which is in the Area of the London Diocese under the Bishop of Kensington. The Kensington
Area eontsins the 5 Borough5 of the Ar¢hdea￿nry of Middlesex.
The corresrthdence address is St Stephen's PaTish Offic< I Coverdale Road, IAin(k)n, W12 8JJ.
The PaTo¢hial Church Council met six time5 during the year. Members of the PCC are either ex
otricio, elected by the Annual Paro¢hial Church Meeting (APCM) in accordance with the Church
Representation Rules. OT ¢O-OPte(L PCC Memb￿ who have served from the Isi January 2022 to the
dale this Teport was approved are:
Ineumbent.. Rev Denis Adiik
Ex Offieio members of the Paroclhi•l Church CouDeil: None
Churchwarden: Bary Clarke. Suzi Maskell

Deaoery s￿0d Reprnwn¢•ilv¢s: taurn Rort Guy Walker
School Foundatiom GovernorL. Rebecca Ellis
Other Ekc¢ed membern {from Aprll 2023).. Damien Lard(yJK Oliver Cantor, Lilia Ayzatulin4
Nadine Talalla, Toby Barrow, Laura C(rttam. t￿lSe Jon¢& Jason Jame& Paul Harrison. Julia
M&%terton-Smith. AlberEO Pellizzalo. Rey. Dr. Cheryl Freeman
Deputy Churchwardens: RelYLca Fai%r. Natslia Cassel
c￿Trea￿VrerS'. Non¢
SafeguArdiMg Offl¢tr: Alex Seab(Yn¢
Elertoral Roll O(fi¢er. Nort
Baokers.. HSBC, 21 Kings M811. King StreeL tA)ndon W6 (￿F
Structur& governance and management
The method of appointment of PCC membets is set out in the Church Rewesentation Rules. All
Church aoendees are enccwaged to register on the Ekctornl Roll and stand forelection to th¢ PCC.
The PCC Standin8 Committee meets a5 necessary EeThveen full mc¢tin8s of the PCC. Th¢ Standing
ComJnittee is required by law; ii h&$ the EM)wcr to transact the busTn¢ss of the PCC between itg
meetin8S. generally when immediate deciSiLmS ￿ au¢knrities #re reguir¢d. The Stsnding Committee is
compos¢d of the In¢umIK￿ the ChuTchwar(kn and deputy warden4 the lay VI￿ Chair, the School
Foundation Governor and thc Treasurer.
Objectives and Activities
The prirn8ry object of the PCC is to pr(*note the Gospel of our l￿d Jes￿$ Christ according to the
doctrines and prdCti¢¢s of the Chuwh of England. Th¢ PCC for the P*ish of St ste￿en and St
Thom8s has the responsibility of COthQWating with the VKar in ￿orn011n￿ in the ecclesiastical parish
the whol¢ mission of the Churc14 pastor81. evangeli&K ￿tal and ¢cu￿nICal.
At St St¢phen and Si Thom4 the parish has Kesp)nsibility for th¢ thurch. the ehurch hall. a key
worker flat {Glebe FlaL I A Coverdale Ro4 W12 8JJX CUJTently kl and a house (35 B1(￿mfOnteln
Aveau< W12 7BJk also currenrfy kt.
Review of the year, 2023
2023 wa5 a settled yeaT with very little variance in altenthce and no unexpect&l events.
We continued to have two servi￿. iKAh of which gmv in Rumkr as the pandemi¢ ¢ondi¢ions lifted.
Our earfier service maintatned a Tradition￿ 4pwoach while the mid-morning s¢rvicr gave more room
for ministy to youftg children. their familie& and folks n¢w to faith.
IA the Parlsb
We continu¢ to strive to be a Christ-¢eRtrc(I liturgically based. EuChari5t-f￿uSed churth. serving our
local community inside and outside the church family. Cornp&wioDate. C¥e8tiv¢ and Courngeous.
We have also remained commit*d to our weekty outrwh wograme ¢ach M￿)daY. our Silver
Screening Club with Lunch and a film for the ¢l(krly, and our partnersh4) with Streetlytes, who serve
hot meal with a film for home1￿$ people and hostsl dw¢llcr5 in the evffjing. In addition. we hosted a
Toddler wup in the morning on Wedn￿dayS knd a y￿tIl group which meets on Friday evenings.
Our relationship with St Steph¢n's School remains strlmg with beginningand end￿f-ternl services and
assemblies each week. We also have had services across the yew to mat* special occasions in the
church and scknl calend8T. Many of the sch(K>l families are xtively inwjlved in the church.

The challenges for the year 20242025
The main challenges for the fOrth￿rnIng 2 years remain the sarne. These are that the financial outlook
for St Stephen's hinges on two main things. The fitst is the strength and sustsinability of its
incomelfundraising streams. and the se¢￿d 15 th¢ assessment of whether that incornc maiches the core
and aspiralional mission objectives.
Traditionally. St Steph¢n's has been able to susiain it5 mission. serving the community in Shepherd's
Bush through prdy¢r and acts of service. Our partnership with other organisaiions has also allowed for
fruitful mission to happen at a lower financial cost. However. the increase in chU￿h attendance
numbers over the previous dec&le ¢oupled with the flourishing of the neighbouring school means ihat
that mission has had to tske a new sh4x: what we do as a thurch is now increasingly mi)tr financially
demanding than in pr¢vious years. With an increase in the attendance of children and young fafftilTe5
in the ¢hurch. it has been necessary to hire Iiew staff and increase the working hour5 ofthose already
present. These costs will need to be managed and met with increased income.
2024-25 will need us to strengthel) our stewardin8 and fundrnising so thai growth in the ￿llgregatiOn
can also be refkcted in regular giving so that our mi55ional aspirations can be matched. We will also
b¢ working trustees to ensure much better long-terni fore¢￿1￿8 and budsetin8.
Electoral Roll and Worship numbers
The electoral roll (2023 revisioo) MumbeTS: I I I
Worshtp Numbers .' 80 (Average aduli anendanc¢)
Sunday S¢hool Attendance Numbers: 95 (Average attendanc*)
Financial Review
Durin8 2020 congregational glving reached a new level as Parishioners generously took on ihe
responsibility of increasin8 their giving to make up the shortfall in other Church income due to
the impact of the Covid_19 pandemic. Ov¢r 21r21. the cumulative increase ixgan to plateau and
we have endeavoured to encournge the growing congregants to givc. Over 2022 that plateau
turned into a gentl¢ d¢clille as the trdnsition between the families who ffloved and the ones who
joined the church ￿¢W continued. 2023 saw a ¢￿tinUEd drop in giving. We continue to
encourage the giving as part of our a(Is of worship so that new and continuing congregation
mem￿rS are engaged in this crucial part of Church life.
The Parish continues to benefit frorn inci)me Tecetved through the HMRC Gift Aid scheme, at
chU￿h also claim for Gift Aid Small t)onation5 (GASDS) payments. Amoun(s owed to us by
HMRC in respect of pending claims for net payments rectivrf #re included within these
a￿OUnts as part of"tkbtors-.
The income from church hall lettings continu¢s to grow. One of the ¢I￿llenge5 we frdee is to
M￿lMIse this over 2024. The rental income from our investment property at 15 Bloemfonletn
Avenue, remained slrong with the propKrty being re-ld ￿ th¢ start of the year following the
departurt of the previou5 teilants. There are, however, necessary improvement and maintenan
works that will need cèr¢ful managern￿t to ensure we are financially stable.
Our Common Fund payment to the Diocese of Ll￿￿On represents our most Signifi￿nt item of
regular expenditure. For the 2023 financial yedr. we a8reed a Common Fund Contribution of
£58.200.
St Stepl*n and St Tl*)mas Clw¢h 2023 AnThA Re￿¥¢& fin*al &aÉements

Reserves policy
It was PCC policy to try to maintain a balance (•) unresthct¢d funds which equated to
approximately six months unrestrithed payments. to cover emerg¢ncy 51tuations that may have
arisen from tim¢ to time. This was equivalent to £67.OCKI. This Amouni had within it a historically
desIgn￿ed porti<)n for work on the prope￿ at Blc£mfontein Avenue which had been aP[￿loned
with the pendin8 gift aid claim in view. Our adual cash balance was thus much lower the
amount indicafrd thus lirniting our acc¢ss to capitol funds. The P.C.C. h*1 also voted to utilise
some of the reserve to facilitat¢ the completion of the roof funds. The numeri￿1 dI￿repa￿¢Y w
missed during the su¢cessive hand-overs tthveen treasurers. Over 2023 the P.C.C. voted to
remove the designalion of the JEclaimed gift aid and simultsnwusly T¢duce ihe reserve5 policy to
£35.000 thus liberating funds which could be better managed to fvnd mission and ￿aggered
work5 on the Blo¢mfonteiTr Avenue prO￿ty. The Reserves p)licy will Ir reviewed as the
2024-25 P.C.C. review the budget for 2025.
It is PCC policy to invest funds ¢arn)arked St Stephen's Hall, and for the church's r(M)f
restoration fund with the CBF CofE Deposit Fund through CCLA Investm￿1 Management Ltd.
The funds belonging to the EW Wright Endowment aTe tnainly inve￿ed in a bank dew5it
¢ount. the funds belonging to the Mission Hall Charity are invested in the CBF CotE
Investment Fund through CCLA Inv¢stm¢ni M•a8ement
Approved by the P￿hla1 Church Council and signed on its iKha]f by:
Rev DenisAdide. Chair
thte: July 6114 2024
igmal ￿8￿edCopY reiairnl l￿ffi1e.
st SrfwplEn of￿ St TIAxn&s Ghwch 2¢f23Anwal Rewt & FwKx81Stafen*rts

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES
OF THE PAROCHIAL CHURCH COUNCIL OF
St STEPHEN and St THOMAS
l. I report on the accounts for the year e￿ 31st December2023. which are set out on
pages6to 10
2. RtSP¢¢tTv¢ responsibililies of the irnstee5 and the txamlner
The eharity's trnmees are ruponsibk forthe prcparntion of the accounts in accordance with the ChaTities ACA
2011 ("theAct").
The charity's trustee5 consider that an a￿111 is N)t required for this year undet section 144 ofthe Act and that
an independent examination is needed.
li is my responsibility to:
examine th¢ a¢¢ovnts under section 145 of the Charities ACL
to follow the applicable Directio￿ given by the Chariry Commission (under section145(5Mb) of the ACL
to stsfr whethw particular mattels hav¢ come ￿ my a¢￿tIOn
3. Basls of the Indeptndenl ex*ml*er's st*ttment
4. My examination was Ca￿led out in acCordat￿e withgeneral Dire￿I0n$81VenbYthecharity Commission.
An examination I￿lUdeS a reviw of the x￿inting records kept by the chan'ty aTrJ a comparison of the
accounts presented with thse records. It also includes consideration of any unusual items or disclosures
in IIK a¢￿U01S, and s¢¢king explanations from the trU￿e¢S concerning any such matters. The procedures
undertaken do not provide all the evidence that would be required in an audiL and consequently no
opinion is given 2S to whetherthe accounts p￿sent a'true and fair. view and the report is limited to those
matters set out in the siatement below.
Independent examiner's st*tement
In ¢onne¢tion with my examination. no TnaieTial Thal*rs have come to my attenlion which gives me cause to
believe that in, any mateTial respect:
the accounting records were kept in a¢cordw with se£tion 130 of the Charities ACL or
the accounts did not accord with the accounung re¢orO&" or
the accounts did not comply with the applicable requirements concerning the forni and content of
accounts set out in the Chariti¢s (A￿ounts and Rwrts) R¢gulatiorns 2(N)8 other than any requirement
that the accounts give a 'true and fair. view which is not a matter ¢onsidered as pan of an independent
examinaiion.
I have no concerns and have come acro&s no other matters in connection with the examiThation io which
attention should be drawn in this report ID order to enable a proper understanding of the a¢¢ounts to be
reached.
Signed:
thte:
Au9USt 7th: 2024
Olufemi Ladcinde ACM& CGMA
8 Gate Street
London
WC2A 3HP
Chartered Insiitirte of Mana8enxm Accounta￿5. mem1￿$h4> No: 1.3MZ80L

Receipts amd Payments Accounts
Unrestrlcted Re5tiicted
Funds
2023 Funds
2022
R¢¢elpts
I'olunt•n' Re¢elpts
42fjl8
9.843
143
54.&)4
42.618
9.843
6239
S8.7QO
45.124
8j12
4(a)
56.fA8
Investmenl bcome (Rent)
Church Actlirfttes (Caurrh Hau Elre)
Other Etttome
4(b)
35.tsm
44.121
1688
35N44
44.121
1688
45.57J
5.198
191J25
46929
30266
2l.542
4{t)
1.024
Trallster ollto Ernpioyee Expew C*rdJ
Twl Recelpts
5.198
107.035
Pa)Ine•l$
Cburcb activide$
58200
18.796
67.100
4236
4.898
153
3S.035
582C
13.975
96.516
4.957
5.950
179 597
12.50?
Clergy and staffmg costs
Cbwch Hal costs
18.790
61801
4236
4{d)
4(e)
Transfer offjo FAWoyee EyeD5e CaTds
Totsl PaymeDts
Excess of liece¥ts ovcr Pa
148J91
38,035
4298
Cash at bauk at 01 Januxy
Casb at bank at 31 Deeejnb
Cash ID transit
et Mov•mert ln Cash
35.457
72.671
35.457
73,492
48.018
35.450
3W
38JI35
822
38 035
12

Statement of Assets and Liabllltles
20•J
20*2
F#Dds
Cask
Bank Curerrt Ac(tXIts
73.iu
35.(K
756
1.027
Cash th Ha￿l
74
Ol&er >lollelu> Assets
1091
28,561
075
PAIT ttxes recoveralle
29
Assd$ relained for ¢hMrch use
35 BloeJnfix5tthAiern
Glebe ts( H21
85QlXI)
850.(
LIab￿¢S
Rwf loan
9.107
307
950
950
2023 ￿V0￿e5 exFQ4W the

Notes to the Ffinancisl Statements
for the year ended 311t December 2022
l. Blsts of ￿1￿cial ststemelts
These financial ststements hove iwi pr¢pard in accordanc¢ with the Church
Accounting Regulations 2(M)6 using the Receipts and Payments basis. The presentstion
currency of the financial ststements is Pounds Sterling (£)
2. Fixed Assets
The value of the inveslment property at 35 Bloemfontein Avenue was obtained by
valuation carried out by the PCC'S cotstr&t￿ wopty manager in 2016.
The Glebe Flat and Churcb Hall & Rooms are conligw 8&8ets within the curtilage of
St Stephen's ChurcK and are church pr(yerty.
3. FuAds
3 (a) u￿r￿lrI¢ledF￿nds aTe funds that are available to be spent on t￿ trustees. general
purp)ses in [urthe￿ of the ii)jectives of tk charity.
3 {b) Resthcted Funds compTi5e revenue donati(Yng or grants for a sp￿lfi¢ activity
intended by the donor. Any balance within a particular restricted fund remaining at
yearénd is carried forward within that fimd.
Soundof Worship: This ful￿ represents donations and relat¢d aid r¢ceiv¢d for the
of pur¢h&sing new audio equipnent. in order to grow and support the church'g worship tram.
Glebe Hoxse Repairs." This fund repTesents dottai￿ forthe pwp)se of kKrforniing
repairs to the Glebe House property.
Dishwashér." This fund represents tk Ik)naili￿ received in onler to purchase a new
dishwasher f(* the ¢hurch.
The movements ID restridd during the yearwere:
Bli
ts Trn¥￿T Bil rM•d
19¢9
Sm4 of Wu5b
U45
2.5
375
349
5.120
322

4. Further Analysis of Recelpts and Payments A¢¢ounts
2022
Fumds
Fwnds
Finds
Reteipts
*) All other ￿￿n1fvoI￿Dt1lw ttcelpts
Card d￿￿tion9 Swthy S*ixe8
672
618
343
511
416
45?
018
343
511
Donation fro￿ Sin8 S(**ty
her onto Ea
Glebe House Rep*
Sollnd of Wornhip
Douatioo
Oth¢r &MJalions
43S
1.796
1.796
3(
1709
2.143
ffjJ39
b) l]we5tment Intome
Relli Bbxmfotrtem Rd
Reni GJ¢be House
27.044
?7.044
8.0(M)
35
374?9
9500
) Other kneou
2.117
250
Wttkettd At Hol￿t
Di0¢o¢ lo￿ for roof
VAT R¢b8ts ftx rewi its • fthted
10.000
8.600
2.641
I)￿*str&￿ed Rtttthied
F*ttds
21)
FWMIS
2022
P*)weDts
d) chU￿b *Dd Hall Costs
)4.794
17.695
7.743
6.943
2.756
53.048
22.206
6.995
3.538
3.265
2.108
3.092
2.013
249
Utditie$
17.695
7.743
6.943
Mitsce]knJe(th Admm Costs
Costs of Setiices
2.232
369
329
Expelldth on new 8nMII assets
Pr￿￿tillI. a￿1 CJ7ft1
369
3)9
Rcpan tD Okbt Ho￿¢
SowLd Sy5taii
New D1th1￿$b￿
2.000
1.949
349
2.000
1.949
349
07.10•
e) ¥h* don•llons
?.466
711
35?
287
2?0
3.251
61
1.147
Alphg supplies
557
787
Sih'ts Scrta)
Bfy)
108
4230
St step1￿ and St T7￿MaS Clmwch 2023Annual Rai*yt & F*Yanc￿l &at8rn9

5. Employtts and Stsfflng
The parish had two cmploytts over the coutse of 2023, a Parish Administrattyr and a
Childrni's Worker. Clcrgy and StatTJr4 costs Incl￿1¢ Pe￿￿￿e] Costs, vicar's expenses
and teatn n￿lIs.
Apart from the above and dutie5 performed by volunteers, services were provided
to the PCC by individuals acling as seif_ernployed contractors, as follows..
Church and Church Hall cleaning
Organ Playing8nd musical direction
6. Glft Ahl Rtcover*ble
There were gift aid claims outststhg with HMRC with relation to charitable donations
in relation to 2020-2023. Estimates for the amouDts receivable for these years are
approxin)ately £3,(KJO.
7. Rooliwi
There is a loan outstanding witb the Di(Kcse in relation to the roof repairs. The original
amount of the loan was £IO,(XK). This loan will ￿ repaid over 33 months, starting in
(ktober 2022 with nK)ntMy repaymenl amounts of £278.
The amowit of the loan outstanding at 31 Decemitr 2023 was £6.111.
10