2023-12-31-accounts

All Souls Church

St. Margarets-on-Thames

Annual Report and Accounts Year Ended 31[st] December 2023

Registered charity number 1133773 Northcote Road, St Margarets, TW1 1PB

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Contents

	APCM Minutes 2023	3
	Annual report 2023	5
	o Vicar’s Report	5
	o PCC and electoral roll reports	7
	o Deanery Synod Report	7
	o Safeguarding Report	8
	o Fabric Report	9
	o Reference and Administrative Details	10
	o Structure, Governance and Management	10
	o Responsibilities and Approval	12
	o Risk Management	13
	o Reserves Policy	13
	Financial Review 2023	14
	o Commentary on 2023 Finances	14
	o Independent Examiner's Report to the PCC (David Howard Ltd)	16
	o Annual Accounts for the period 1st January 2023 to 31st December 2023	17
	 Statement of Financial Activities (“SOFA”)	17
	 Statement of Financial Position as at 31 December 2023	18
	 Note 1 – Accounting policies	19
	 Notes 2-4 – Analysis of incoming resources	21
	 Note 5 – Analysis of resources expended	22
	 Note 6-9 – Staffing & Taxation	23
	 Note 10 – Tangible Assets	24
	 Note 11 – Debtors and Prepayments	25
	 Note 12 – Restricted Funds and Investments	25
	 Note 13 – Liabilities	25
	 Note 14a – Movement in Funds	26
	 Note 14b – Movement in Funds	27

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Minutes from 2022 APCM – April 25[th] , 2023

Attendees

Alice Coleridge, Hannah Bowring, Phil Davies, Katherine Morgan, Ann Gordon, Charles Tapson, Linz Nolan, Gerry Haliburn, Marcus Cutler, Maf Cavill, Nick Rhodes, Davina Rowe, David Rowe, Sue Cavill, Joe Sellers, Jon Wooden, Edel Erickson, Jan Sharp

Apologies:

Ben Causley, Jen Causley, Jan Cowie, Linda Northern, Anais Lesimple

1. Joe gave a welcome to all attending the meeting

2. Jon led praise & worship

3. The minutes from 2022 APCM were approved with no objections and there were no matters

arising

4. Parishioners Meeting - Election of Churchwardens

• Joe stated that each year:

• We elect both churchwardens.

• This year, after 7 years of service as a churchwarden, Edel Erickson is stepping down – appreciation was noted and Edel was presented with a gift.

• Maf Cavill has agreed to stand as churchwarden for another year.

• Alice Coleridge has been nominated as new churchwarden

• Joe stated that as the number of proposed candidates does not exceed the number of places available, they were declared duly elected.

APCM

• Joe advised that the rest of the APCM is open to only those on the electoral roll of All Souls, but that all would be welcome to stay - although only those on the electoral role are eligible to vote

5. Election of PCC

• Joe advised that PCC is a number of lay people from amongst the church members who join the clergy to meet and discuss matters pertinent to the life of All Souls – they usually serve a 3- year term.

• Debbie Braun, Debbie Cryan and Tim Plyming are stepping down – they were thanked for their service. Additionally, Tom Johnson and Toby Willmer had stepped down since the last APCM.

• Phil Davies, Ann Gordon, Katherine Morgan and David Cheetham have been nominated to join PCC. As the number of proposed candidates does not exceed the number of places available, Joe declared them duly elected.

• Joe stated that attendees needed to decide if the LLM who is licensed to the parish ( Jon Wooden) should remain as member of the PCC. This was agreed by a show of hands.

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6. Election of Deanery Synod

• Joe explained what the Deanery Synod is and that the current representatives for All Souls are Charles Tapson & Linda Northern.

• Joe advised that the representatives serve for a 3-year term and so these two will continue to serve.

7.

Appointment of Independent Examiner

• Joe advised that each year, our accounts must be independently examined and verified.

• He proposed that All Souls agrees to continue with D Howard as the Independent Examiner and provider of payroll services to the church.

• A show of hands was requested with a unanimous response.

8. Reports

• The official reports were referred to which could be found in the Annual Report doc. Short verbal accounts were provided as per names below:

• Finance Report – Phil Davies

• Vicar’s Report – Joe Sellers

• CT asked if we could formally acknowledge for te minutes, the contribution of Sarah & Andy Ricketts as worship leaders.

9. Final comments

• Joe asked everyone to remember those ofn PCC – especially the new members – in prayer.

• A short time of prayer and worship followed.

• AOB – there were no AOBs

• Close

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Parochial Church Council of All Souls Church, St Margaret's

Annual report and accounts 31st December 2023

Vicar’s report & overview of the year

Background

All Souls, St Margaret's is a Church of England congregation based in the community of St Margaret’s (Twickenham), the Ivybridge Estate and South Isleworth. The Church is led by the Vicar (Rev Joe Sellers) with two curates, (Revs Ritesh Patelia & Mike English), Licensed Lay Minister (Jon Wooden), and supported by a staff team (Church Manager and Administrator) along with volunteers who run many aspects of the church's life and work. The churchwardens and Parochial Church Council provide oversight as charity trustees.

Vision and Mission

We subscribe to the Vision of the Anglican Diocese of London, for ‘ every Londoner to encounter the love of God in Christ.’ We seek to do this by being a Church that is with Jesus, like Jesus, and for everyone.

• With Jesus, because at the heart of all we do is our relationship with him,

• Like Jesus, because we seek to be formed in his image, sharing his love for the world and all around us.

• For everyone, because we continue his mission of bringing the Kingdom ‘on earth as it is in heaven.’

Highlights of 2023

1. Facing (and overcoming) challenges

The energy crisis and related inflationary pressures saw the Church entering the year facing financial pressures. Steps were taken to reduce outgoings while teaching was given on giving and generosity. We began the year with a deficit budget of £46,000. We moved out of the main Church building and into the halls for our services during the winter months, which both saved money on heating and reduced our carbon footprint. Unexpectedly, this served to renew the worshipping life of the Church, was appreciated by many, and coincided with a slight increase in attendance. On return to the main building (in March), we experimented with using chairs – as we had in the hall – in place of some of our pews. Following this experiment the PCC decided in principle to plan to swap the old wooden pews for new, padded seats, to improve comfort, and offer greater flexibility in our use of our spaces. In the Autumn we added regular prayer and worship evenings to augment and develop these areas further and ‘go deeper’.

2. Vision and teaching

Our teaching throughout the year unpacked elements of our vision . In the Easter term we focussed on ‘Being With Jesus’ through a range of spiritual practices, and by ‘walking with Jesus’ to the cross, in Luke’s account. In

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the summer term, we looked at what it means to ‘Become Like Jesus’ using the epistle of Jesus’ brother James, with additional teachings on prayer and giving. After revising our vision in our September sermons, we then looked at the Mission of the Church (‘Doing what Jesus did’) working through the themes of the Diocese of London, Capital Vision 2030.

3. Mission

The PCC successfully completed a Mission Action Plan, to accompany the vision set in 2022. Three missional priorities were set: Developing our welcome and connection , investing in our ministry with children and young people , and reimagining our mission with the Ivybridge Estate . Sub-groups of the PCC were formed to focus on each of these three priorities. Christmas and Easter were key seasons for outreach and mission, with many visitors coming through the doors. For the first time, the entire parish (including every dwelling on the Ivybridge estate) was given one of our Christmas fliers. We also ran an Alpha course during the spring term for people exploring the Christian faith.

4. Community and Discipleship

A diverse range of small groups (Connect Groups) continued to run including, Monday Night Football, The Beta Bible Study Group, Monday Club and Communion, and the Friday women’s Bible study group. Plans were drawn up to add additional Connect Groups in 2024. The social life of the Church continued to make All Souls community accessible to those beyond the Church family. We enjoyed regular curry nights, walks and ‘bring and share’ lunches. A Church BBQ (run by the Monday Night Football group) celebrated the ordination and licensing of our two new Curates, Mike English & Ritesh Patelia . Both have, along with their families, been wonderful additions to the All Souls family, and we have been enormously blessed by their arrival. In the summer a group of us went to the New Wine United summer festival and were hugely encouraged, challenged and built up by our time together there.

5. Every generation

All Souls is a family with new-borns, 90s, and everything in between. With a reputation as a ‘family friendly’ Church we make a priority of our work with children and young people but also have a dedicated ministry for older generations in the Monday Club and Communion programmes. Children’s groups run most Sunday mornings, with ‘All In’ services throughout the year bringing the whole Church family together to worship. There were additional events for children including a ‘Glow in the Dark Party’ (Halloween alternative) and a Board Games Event. Both events were well-attended, popular and brilliantly run. Our youth continue to meet on fortnightly on Sunday evenings and, from April, added fortnightly Sunday mornings gatherings. We were delighted to see our youth getting increasingly involved running aspects of services, particular in the sung worship. The youth group went on several social events, including a ‘Soft Play with Laser Tag’ evening, events with other local Church youth groups, and the Kensington Area Youth Residential in June. The Christmas social was another highlight.

5. Looking forward

Having started the year facing a large deficit, we were delighted to see that turn around with a small surplus by the end of the year, largely due to increased giving. There is a sense that this is part of a wider picture of seeing the Lord bless the community of All Souls, as our vision and mission continues to be enacted in our gathered

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and dispersed lives. We exist to see Jesus lifted high, and to live fruitful lives for his Kingdom, inviting others, young and old, to join us in seeking to ‘be with Jesus, become like Jesus, and do what he did’.

Rev Joe Sellers, Vicar of All Souls – March 2024

PCC Report

From April 2023, the PCC was made up of 1 clergy, 9 elected members, 2 Deanery Synod Representatives, 2 Churchwardens & 1 Licensed Lay Minister. From June 2023, two further clergy members joined the PCC. It is chaired by a churchwarden and has met eight times during 2023.

In those meetings, the PCC has discussed the 3 key areas of the Mission Action Plan for the church, seating options in church, safeguarding processes and strategies associated with church finances.

As well as discussing practical matters of Church life, each PCC meeting includes times of prayer and worship.

Jon Wooden – Church Manager / PCC Secretary

Electoral Roll Report

The new electoral roll has 158 people, of whom 70 are resident outside the parish.

Jon Wooden - Electoral Roll Officer

Deanery Synod Report

The Hounslow Deanery Synod is made up of two groups of people:

• (1) all the clergy in the deanery, and

• (2) lay representatives from all the churches in the deanery.

The Deanery is a geographical area within a Diocese. There are 6 deaneries, including ours which is Hounslow Deanery, under the Bishop of Kensington, and a further 4 Bishops with 18 deaneries between them, all within the Diocese of London.

All Souls has three people on the Deanery – Joe Sellers as our vicar and two lay representatives – Linda Northern and Charles Tapson. The Area Dean is Rev. Martine Oborne, the vicar at St Michael’s Chiswick.

The Deanery Synod considers & comments on matters relating to the Church of England at a deanery level, discusses common concerns, & seeks to foster community & interdependence.

Since our last APCM there have been three meetings. Topics discussed included:

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• Meeting with Bishop Emma

• Access, disability & inclusion

• Church volunteering

Links are available to the presentations for those who are interested.

The Deanery meetings are a great opportunity to meet fellow Anglicans, gain insight into the Church’s mission and feedback to the General Synod.

Charles Tapson – Deanery Synod representative

Safeguarding Report

Every person has a value and dignity that comes directly from the creation of male and female in God’s own image and likeness. Christians see this potential as fulfilled by God’s re-creation of us in Christ. This implies a duty to value all people as bearing the image of God and therefore to protect them from harm.

• We accept and endorse the principles set out in ‘Safeguarding in the Diocese of London’.

• We commit ourselves to nurture, protect and safeguard all our members, particularly children, young people and vulnerable adults.

• We recognise that safeguarding is the responsibility of the whole church community.

• We undertake to exercise proper care in the selection, appointment, training and support of those working in both paid and voluntary positions with children or vulnerable adults, including the use of Disclosure and Barring Service (DBS) disclosures and making appropriate referrals to the Disclosure and Barring Service.

• We will respond without delay to concerns or allegations that a child or vulnerable adult may have been harmed, cooperating with the police and social care services in any investigation.

• We will challenge any abuse of power by anyone in a position of trust.

• We will seek to offer pastoral care and support to anyone who has suffered abuse, developing with them appropriate pastoral support.

• We will seek to offer pastoral care and support, including supervision and referral to the proper authorities, to any member of our church community known to have offended against a child, young person or vulnerable adult.

Katherine Merrifield is our overall Church Safeguarding Officer with a particular responsibility for children and young people. Eva Thorne is the Church Safeguarding Officer for adults. Sue Cavill and Rachel Ward are the church Children’s Champions.

Copies of “Safeguarding in the Diocese of London” and any parish guidelines and procedures are held by the parish office.

Safeguarding is a standing agenda item for PCC. A smaller safeguarding steering group meets termly to review processes and procedures. Joe regularly flags to the whole congregation the importance of safeguarding and reminds them of who the safeguarding officers are. Highlights this year include:

• Developing and disseminating a flowchart of how to respond to a safeguarding concern at All Souls

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• Running an in-person safeguarding training session with the Diocesan Safeguarding Adviser

• Developing a social media policy for our communications with children and young people

• Continuing our ongoing work of reviewing and improving our safeguarding policies and practice

Katherine Merrifield – Church Safeguarding Officer

Fabric Report

In 2023, regular maintenance continued on the church buildings.

The ‘font area’ in church was cleared and re-decorated at the beginning of the year, to make a muchimproved area to serve refreshments on Sundays.

The Main Hall, Small Hall and Stage Room floors were scrubbed clean, and given a coat of polish by the church staff. This saved a significant amount of money from the usual sanding & sealing which had been anticipated. It is planned to continue polishing the floors at least once a term to try to maintain their condition.

The hatch to the basement malfunctioned during the year, and Charles Tapson has overseen the project to get this working properly again by the installation of new actuators.

The flat roofs above the halls and office are very old and allow water ingress into parts of the building at various times. The Team Room ceiling suffered a partial collapse as a result. This has now been replaced. The roof continues to be patched with liquid sealant to minimise the leaks, which has been largely successful. An experiment with a full liquid sealant covering of one of the flat roofs is planned for 2024.

Jon Wooden, Church Manager

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Reference and Administrative Details

Charitable Status

• The Parochial Church Council of All Souls Church, St Margaret's has charitable status as a registered place of worship under the Charities Act 2011.

• It is also known as “All Souls Church” & as “All Souls Ivybridge”.

• Registered charity number 1133773

 All Souls Church Office Northcote Road St Margarets TW1 1PB 020 8891 6820

Banks

Barclays Bank plc CBF Church of England Deposit Fund 8 George Street CCLA Investment Management Richmond, Surrey Senator House TW9 1JU 85 Queen Victoria Street London EC4V 4ET

Independent Examiner

David Howard Accountants

1 Park Road, Hampton Wick, Kingston upon Thames, KT1 4AS

Structure, Governance and Management

The Parochial Church Council

• The Parochial Church Council (PCC) is a corporate body, established by the Church of England. The PCC operates in accordance with the Parochial Church Council (Powers) Measure 1956 as amended and is required to co-operate with the Vicar in promoting the mission of the church in the parish. The PCC is constituted in accordance with Part II of the Church Representation Rules, contained in Schedule 3 to the Synodical Government Measure 1969 (No. 2) and consists of the clergy and churchwardens of the parish, together with a number of lay representatives elected at the Annual Parochial Church Meeting (APCM).

• Members of the congregation who are registered on the Electoral Roll are eligible to stand for election to the PCC.

• PCC members are charity trustees. The PCC must ensure compliance with charity law, church (ecclesiastical) law and exercise prudence and a duty of care.

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• The Trustees are provided with both written and verbal training at the beginning of their term of office in the roles, responsibilities and rights of PCC members.

• The PCC (members and non-voting attendees) who held office from 1[st] January 2023 until 31[st] December 2023 were:

Chairman: Reverend Joe Sellers (Vicar) Churchwardens: Matthew Cavill Edel Erickson ( until April 2023 ) Alice Coleridge ( from April 2023 ) Clergy: Reverend Ritesh Patelia ( from July 2023 ) Reverend Michael English ( from July 2023 ) Deanery Synod: Charles Tapson Linda Northern Elected members: Phil Davies ( from April 2023 ) Lindsay Nolan Debbie Braun ( until April 2023 ) Nick Rhodes Debbie Cryan ( until April 2023 ) Tim Plyming ( until April 2023 ) Hannah Bowring (until September 2023) Ben Causley James Donaldson (until September 2023) Alice Coleridge (until April 2023) Ann Gordon (from April 2023) Katherine Morgan (from April 2023) David Cheetham (from April 2023) Lay Minister: Jon Wooden

• The role of the PCC is to co-operate with the Incumbent to ensure that the resources of All Souls are used to promote, in the parish, the whole mission of the Church – pastoral, evangelistic, social and ecumenical. PCC decisions are taken following open discussion and in the context of prayer. In planning its activities, the PCC have considered the Charity Commission's guidance on public benefit and, in particular, specific guidance on charities for the advancement of religion.

• The PCC is responsible for preparing the Trustees report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.

• The PCC met 8 times during the calendar year.

• The PCC is chaired by the Vicar (or in their absence, by request or during interregnum by the vicechair – generally one of the Church Wardens). The Vicar is appointed by the Bishop of Kensington in accordance with the practices and procedures of the Church of England.

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Standing Committee

• This comprises the Vicar, Churchwardens, Treasurer, and Charles Tapson. It has the power and responsibility to transact the business of the PCC between its meetings, subject to the direction of the PCC.

PCC Sub-Committees and Teams

• Given its wide responsibilities, the PCC works with a number of other teams covering all aspects of parish life, including ministry and worship, children's and youth work, finance and administration. These teams work closely with the Vicar to bring matters of importance to the PCC for consideration.

• The PCC employs some staff but also makes significant use of volunteers to carry out its work.

Church Membership

• The electoral role updated for the 2024 APCM is 158

• Weekly attendance at Sunday church services in 2023 averaged approx. 100 adults and children at the main Sunday worship gatherings.

Responsibilities and Approval

The PCC are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales require the trustees to prepare financial statements for each year which give a true and fair view of the state of the affairs of the church and of the incoming resources and application of resources, of the church for that period. In preparing the financial statements, the trustees are required to:

• Select suitable accounting policies and then apply them consistently;

• Make judgements and accounting estimates that are reasonable and prudent;

• State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in business.

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the church’s transactions and disclose with reasonable accuracy at any time the financial position of the church and that enable them to ensure that the financial statements comply with the Charities Act 2011, Church Accounting Regulations 2006 and Charities SORP (FRS102). They are also responsible for safeguarding the assets of the church and hence for taking reasonable steps for the prevention and detection of fraud and other regularities.

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Risk Management

• The PCC has reviewed the major risks to which the church is exposed and has considered types of risk, potential impact, likelihood of occurrence and means of mitigating these risks. Exposure to risk is reviewed by the PCC on a regular basis.

Reserves Policy

• It is PCC policy to maintain sufficient unrestricted cash balances to meet near term expenditure, including any emergencies that may arise from time to time. In practice this means that we normally need to maintain a General Fund cash balance of at least six weeks essential expenditure.

• Whilst balances may occasionally fall below this level, when this occurs the position is reviewed promptly and remedial action taken within a reasonable time.

• It is our policy to invest any cash balances not required in the short-term in appropriate investment vehicles that match our needs for access, provide a competitive rate of interest and match our ethical investment policy.

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Financial Review 2023

Commentary on 2023 finances

Overview

We started 2023 in a very positive position as we saw an amazing response from the congregation to our giving ask in November 2022. Many individuals reviewed their giving and increased their financial contributions as the increased level of donations that we experienced in at the end of 2022 held firm well into 2023. We were even more grateful when giving further increased over the summer, with several new donors starting to give. We are again so thankful to all of those who support All Souls financially and are humbled by such levels of generosity.

This increased income, along with carefully managed expenditure (including the decision to move services into the church hall in January and February to reduce heating costs), meant that income exceeded our expenditure in the year and our unrestricted reserves grew by £10,754 in 2023 (decreased by £35,878 in 2022), a position that was very difficult to imagine only 18 months ago.

This allows us to move into 2024 looking forward to how we can best support our missional goals financially and see the church thrive.

Income

The total unrestricted income in 2023 increased by 4% to £209,898 (2022: £202,535).

Several factors resulted in this outcome:

• Increased regular giving from the congregation which grew by £21,000 including gift aid, compared with last year.

• One-off gifts from the congregation were £3,576, which were lower than the 2022 figure of £16,807 when there were several one-off contributions in response to our giving ask, but nevertheless make a substantial contribution to our income.

• Maintaining levels of rental income from hiring out the halls and the flats which increased to £78,335 (2022: £76,161).

Restricted income fell to £3,632 (2022: £7,884). This was due to us continuing not to actively fundraise towards Ivybridge activities, nor seeking any specific grants.

Expenditure

Total expenditure for All Souls in 2023 decreased by 16% to £199,787 (£238,886 in 2022).

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The main changes in expenditure compared with 2022 are as follows:

• A decrease of £8,000 in costs of electricity and gas for the year due to falling prices and moving services into the church halls in early 2023.

• Unbudgeted one-off spend of £25,000 in 2022 to repair one of the flat rooves damaged in a storm.

• Salary costs increased by £5,000 in the year.

We were pleased to be able to maintain our Diocesan Common Fund contributions at £89,460, the ‘full costs’ contribution for the year, as well as committing to full cost for 2024.

Balance Sheet

At the year end, cash and bank balances totalled £205,211 (2022: £188,457).

The majority of this cash balance is held in an interest-bearing deposit account.

In 2023 we closed the year with net unrestricted funds of £165,784 (2022: £155,030). We ended 2023 with £58,694 in restricted funds (2022: £55,705). The funds held in restricted reserves will be able to contribute towards our missional goals in 2024.

Phil Davies, Treasurer - on behalf of the PCC

April 2024

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Independent Examiners' Report to the PCC of All Souls Church, St Margaret’s

I report to the trustees on my examination of the accounts of the charity for the year ended 31 December 2023, which are set out on pages 5 to 28.

Responsibilities and basis of independent examiner's report

As the charity trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011(‘the Act’). The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

I report in respect of my examination of the Trustee’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

• (1) accounting records were not kept in accordance with the section 130 of the Act; or

• (2) the accounts do not accord with those records; or

• (3) the accounts do 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 no concerns and 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.

Signed: …………………..........................

David Howard Chartered Accountants 1 Park Road Hampton Wick Kingston upon Thames Surrey KT1 4AS

23/04/2024 Dated: ....................

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All Souls Church, St Margarets

Statement of financial activities (incorporating an income and expenditure account)

For the year ended 31 December 2023

Note Income from: 2 3 4 5 Reconciliation of funds: Donations and legacies Total expenditure Charitable activities Church activities Charitable activities Church activities Investments Total income Expenditure on: Total funds carried forward Net movement in funds Total funds brought forward	Unrestricted £ 124,025 80,998 4,875	Restricted £ 3,632 - -	2023 Total £ 127,657 80,998 4,875 213,530 199,787 199,787 13,743 210,735 224,478	Unrestricted £ 114,788 85,770 1,977	2022 Restricted Total £ £ 7,884 122,672 - 85,770 - 1,977 7,884 210,419 493 238,886 493 238,886 7,391 (28,467) 48,314 239,202 55,705 210,735
	209,898	3,632		202,535
	199,144	643		238,393
	199,144	643		238,393
	10,754 155,030	2,989 55,705		(35,858) 190,888
	165,784	58,694		155,030

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 14a to the financial statements.

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All Souls Church, St Margarets

Balance sheet

As at 31 December 2023

Note £ Fixed assets: 10 10 Current assets: 11 8,704 12 205,211 213,915 Liabilities: 13 (4,537) 14a Restricted funds Cash at bank and in hand Property - historic cost Tangible assets Unrestricted funds Parish funds Total net assets Total charity funds Debtors Creditors: amounts falling due within one year Net current assets	Note £ Fixed assets: 10 10 Current assets: 11 8,704 12 205,211 213,915 Liabilities: 13 (4,537) 14a Restricted funds Cash at bank and in hand Property - historic cost Tangible assets Unrestricted funds Parish funds Total net assets Total charity funds Debtors Creditors: amounts falling due within one year Net current assets	2023 £ £ 15,100 - 15,100 10,390 188,457 198,847 (3,212) 209,378 224,478 165,784 58,694 224,478	2022 £ 15,100 -
			15,100 195,635
	213,915 (4,537)
			210,735
			155,030 55,705
			210,735

Approved by the PCC and signed on their behalf by

==> picture [48 x 49] intentionally omitted <==

Rev Joe Sellers Vicar

23rd April, 2024

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All Souls Church, St Margarets

Notes to the financial statements

For the year ended 31 December 2023

• 1 Accounting policies

a) Statutory information

All Souls Church, St Margarets-on-Thames is an unincorporated charity registered with the Charity Commission for England and Wales.

The registered office address is Northcote Road, St Margarets, TW1 1PB.

b) Basis of preparation

The financial statements have been prepared in accordance with the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2019).

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

Monetary amounts are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention except for the valuation of investment assets which are shown at market value. The financial statements include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body, nor those that are informal gatherings of church members.

c) Public benefit entity

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

d) Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

e) Income

The accounts are prepared on the accruals basis of accounting: income is recognised when receivable, except for donations of all kinds that are recognized when received ; income tax recoverable is recognized at the same time as the donation. Grants and donations are accounted for when paid over provided that the terms of the grant do not impose future performance related conditions on the PCC. All incoming resources are accounted for gross.

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All Souls Church, St Margarets

Notes to the financial statements

For the year ended 31 December 2023

• 1 Accounting policies (continued)

• f) Resources expended

Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding or constructive obligation on the PCC. The diocesan parish share is accounted for when due. Amounts received specifically for mission are dealt with as restricted funds. All other expenditure is recognized when it is payable and is accounted for including Value Added Tax

• g) Fund accounting

Unrestricted general funds represent funds that are not subject to any restrictions regarding their use and are available for application on the general purposes of the PCC. Unrestricted designated funds include funds which are not restricted but have been designated by the PCC for a specific purpose. Restricted funds represent (a) income from trusts or endowments which may be expended only on those restricted objects provided in terms of the trust or bequest, and (b) donations or grants received for a specific object or invited by the PCC for a specific object. The funds may only be expended on the specific object for which they were given. Any balance remaining unspent at the end of each year must be carried forward as a balance on that fund.

• h) Liabilities policy

Liabilities are recognised where there is an obligation to transfer economic benefits. The liability recognised is the amount that the Church anticipates it will pay to settle the debt or the amount it has received as an advance payment for goods or services it must provide. A provision for a liability is recognised only when: there is a present obligation at the reporting date as a result of a past event; it is probable that a transfer of economic benefit, usually in the form of cash, will be required in settlement; and the amount of the settlement ca n be estimated reliably. The provision will be measured at the best estimate of the settlement amount.

i) Tangible fixed assets

• Consecrated and benefice property is not included in the accounts in accordance with Section 10 of the Charities Act 2011.

Movable church furnishings held by the vicar and churchwardens on special trust for the PCC and which require a faculty for disposal are inalienable property, listed in the church's inventory, which can be inspected (at any reasonable time). For a nything acquired prior to 2000 there is insufficient cost information available and therefore such assets are not valued in the financial statements.

Individual items of equipment with a purchase price of £750 or less are written off when the asset is acquired. Items of equipment used within the church are capitalised where the acquisition value exceeds £750. Depreciation is provided on these assets so as to write off their cost or valuation less any estimated residual value in equal instalments over the expected useful economic life of the asset as follows:

• Equipment

• 5 years

• Land and buildings are not depreciated as their useful life is deemed to be greater than 50 years and the buildings are maintained in a good state of repair, such that the residual value will not be less than the cost.

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All Souls Church, St Margarets

Notes to the financial statements

For the year ended 31 December 2023

• 2 Income from donations and legacies

Collections - special services Ivybridge Giving Gifts and 'one-off' donations from congregation Regular giving from congregation (incl gift aid)	Unrestricted £ 120,555 135 3,335 -	£ - 473 240 2,919 Restricted	2023 Total £ 120,555 608 3,576 2,919	Unrestricted £ 99,644 231 14,913 -	2022 Total £ £ - 99,644 329 560 1,894 16,807 5,661 5,661 7,884 122,672 Restricted
	124,025	3,632	127,657	114,788

3 Income from charitable activities

Rental income (Halls, Flat) Parochial fees & Events Sub-total for church activities Grants received Sub-total for other income 4 Income from investments Bank interest Other income Total income from charitable activities	Unrestricted £ 78,335 1,035	£ - - Restricted	2023 Total £ 78,335 1,035	Unrestricted £ 76,161 1,056	£ - - Restricted	2022 Total £ 76,161 1,056
	79,370 - 1,628	- - -	79,370 - 1,628	77,217 2,641 5,912	- - -	77,217 2,641 5,912
	1,628	-	1,628	8,553	-	8,553
	80,998	-	80,998	85,770	-	85,770
	Unrestricted £ 4,875	£ - Restricted	2023 Total £ 4,875	Unrestricted £ 1,977	£ - Restricted	2022 Total £ 1,977
	4,875	-	4,875	1,977	-	1,977

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All Souls Church, St Margarets

Notes to the financial statements

For the year ended 31 December 2023

• 5 Analysis of Expenditure on Charitable Activities

Church activities Ministry costs Buildings and Utilities Administrative and communications Total resources expended Staff costs (note 6) Project costs	Unrestricted £ 55,710 107,178 - 31,274 4,981	£ - 473 170 - - Restricted	2023 Total £ 55,710 107,651 170 31,274 4,981	Unrestricted £ 50,851 109,079 - 73,506 4,957	2022 Total £ £ - 50,851 - 109,079 466 466 - 73,506 27 4,984 493 238,886 Restricted
	199,144	643	199,787	238,393

• Buildings and Utilities includes costs of £14,787 for gas and electricty in the year which compares with £22,992 in 2022 due to price decreases and lower usage by moving services to the church hall in early 2023.

• Independent Examination fees were £942 in 2023 (2022: £900).

• Church maintenance costs of £5,581 (2022: £33,329) reduced substanitally due to the replacement of one of the church's flat rooves in the prior year.

• The accountant provided payroll and pension services costing £632 in 2023 (2022: £584).

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All Souls Church, St Margarets

Notes to the financial statements

For the year ended 31 December 2023

• 6 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel

Staff costs were as follows:

Recruitment and staff training Employer’s contribution to defined contribution pension schemes Social security costs Salaries and wages	2023 2022 £ £ 54,344 49,073 - 664 1,256 1,098 110 16 55,710 50,851

No employee earned more than £60,000 during the year (2022: nil).

The total employee benefits (including pension contributions and employer's national insurance) of the key management personnel were £36,620 (2022: £33,384).

No PCC members were remunerated for any employment or services to the church. (2022: None)

Trustees' expenses represents the payment or reimbursement of travel and subsistence costs totalling £994 (2022: £637) incurred by 2 (2022: 1) trustees (clergy) relating to travel and parking expenses, a percentage of home internet and telephone costs, subsistence, the purchase of sermon reference materials and reimbursement of items purchased for church use.

7 Staff numbers

During the year, the PCC employed a Church Manager, Lay Minister and Church Administrator, which are all part time roles. The average monthly number of employees was 2.0 (2022 - 2.0). This represents 1.48 full time equivalent members of staff (2022 - 1.53).

8 Related party transactions

Maggie Cheetham is employed as the church administrator and is married to David Cheetham, who became a member of the PCC during 2023. In the year, she was paid total emoluments of £12,286. There were no related party transactions to disclose for 2022.

Total unconditional donations from PCC members and related parties in 2023 amounted to £47,515 (2022: £39,885).

9 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

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All Souls Church, St Margarets

Notes to the financial statements

For the year ended 31 December 2023

10 At the start of the year Charge for the year At the start of the year Additions in year Disposals in year Eliminated on disposal Tangible fixed assets Depreciation Cost At the end of the year At the end of the year At the start of the year At the end of the year Net book value	Studio and Halls £ 15,100 - -	Church Equipment £ 5,122 - -	Total £ 20,222 - -
	15,100	5,122	20,222
	- - -	5,122 - -	5,122 - -
	-	5,122	5,122
	15,100	-	15,100
	15,100	-	15,100

Historic note: Additions to tangible assets in 2017 comprised a valuation of the Studio and Halls due to a Diocesan requirement for them to be incorporated into the church accounts if the PCC members are the managing trustees for such property.

Under The PCC (Powers) Measure 1956 PCCs cannot own property (land or buildings). This means that the London Diocesan Fund will be the registered owner of any PCC property and the PCC will be the managing trustees. Despite this, the decision making power lies directly with the PCC which is at liberty to manage the property in line with its stated charitable aims and will receive the sale proceeds if the property is sold.

For accruals accounting , the two approaches which are deemed acceptable are the recording of historic cost or the recording of current value. As the PCC had no desire to inflate our accounts, it was recommended that we select historic cost as the basis. The Diocese has no requirement for us to depreciate these properties.

The historic construction costs have been assessed for the purposes of the accounts only and are based upon the current measured floor space and utilising building rates applicable c. 1910 (for the Studio) and in the late 1950’s (for the Halls).

The Studio is a free standing building within the grounds of All Souls Church. It is believed to have been erected in the early 20 th century and is built with solid 9” brick walls, a pitched timber and slate covered main roof with similarly constructed rear additions, timber windows and a suspended timber floor. Internally it provides a single open plan area with two small changing areas, now mainly used by Twickenham Academy of Dance, and an office, kitchenette and two WC s at the rear. The approximate original construction cost of the Studio, without a bill of quantities or drawings, is £1,600 (c. 1910).

The Halls were erected in the 1950’ s and built with concrete portal frames and felt covered ribbed concrete roofs, 11” brick walls fitted with Crittall single glazed windows, and solid wood block covered floors. Internally they provide (1) a small, lower height, hall and kitchen facility; (2) a meeting room formed out of previous changing rooms and toilets; (3) the full height main hall; (4) the former stage converted a decade ago into a separate activity space, with an under croft beneath, used as another activity area, and a boiler room off; and (5) ancillary toilets at the front of the main hall with a self contained flat above with external access from the courtyard at the side of the main hall. The approximate original construction cost of the Halls, without a bill of quantities, is £13,500 (c. 1950).

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All Souls Church, St Margarets

Notes to the financial statements

For the year ended 31 December 2023

11 Debtors and prepayments

Debtors and prepayments
Tax recoverable Rent receivable	Unrestricted 1,691 6,918 8,609	95 - Restricted	2023 Total 1,786 6,918	Unrestricted 4,194 5,326	2022 Total 870 5,064 - 5,326 870 10,390 Restricted
		95	8,704	9,520

12 Restricted funds and investments

Cash balances held for restricted purposes comprise of the following:

Funds within the PCC cash balances restricted for Ivybridge Activities Total restricted funds held as cash Funds held within the PCC current account restricted for the future employment of a youth / families worker	2023 2022 £ £ 55,402 51,638 3,197 3,197 58,599 54,835

Unrestricted cash balances at 31 December 2023 amounted to £146,807 (2022: £133,622).

The majority of the cash balance at the year end is held in a deposit account in order to earn interest while plans are agreed for longer term investment and development activities. The balance on this deposit account at 31 December 2023 was £156,652 (2022: £151,787).

13 Creditors: amounts falling due within one year

Trade creditors Accruals and deferred income	Unrestricted 3,595 942 4,537	- - Restricted	2023 Total 3,595 942	Unrestricted 2,312 900	2022 Total - 2,312 - 900 - 3,212 Restricted
		-	4,537	3,212

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All Souls Church, St Margarets

Notes to the financial statements

For the year ended 31 December 2023

14a Total restricted funds Total designated funds General funds Buildings historic cost Movements in funds (current year) Restricted funds: Ivybridge Designated funds: Unrestricted funds: Total funds Total unrestricted funds Financial reserve Foodbank Youth worker Christmas collections	At 1 January 2023 £ 48,098 4,410 3,197 -	Income & gains £ 2,919 240 - 473	Expenditure & losses £ (170) - - (473)	Transfers £ - - - -	At 31 December 2023 £ 50,847 4,650 3,197 -
	55,705	3,632	(643)	-	58,694
	25,000 15,100	- -	- -	- -	25,000 15,100
	40,100	-	-	-	40,100
	114,930	209,898	(199,144)	-	125,684
	155,030	209,898	(199,144)	-	165,784
	210,735	213,530	(199,787)	-	224,478

The narrative to explain the purpose of each fund is given at the foot of the note below.

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All Souls Church, St Margarets

Notes to the financial statements

For the year ended 31 December 2023

14b Movements in funds (prior year)

Movements in funds (prior year)
Total restricted funds Total designated funds General funds Total funds Ivybridge Buildings historic cost Youth worker Restricted funds: Foodbank Total unrestricted funds Unrestricted funds: Designated funds: Financial reserve	At 1 January 2022 £ 42,890 2,227 3,197	Income & gains £ 5,701 2,183 -	Expenditure & losses £ (493) - -	Transfers £ - - -	At 31 December 2022 £ 48,098 4,410 3,197
	48,314	7,884	(493)	-	55,705
	25,000 15,100	- -	- -	- -	25,000 15,100
	40,100	-	-	-	40,100
	150,788	202,535	(238,393)	-	114,930
	190,888	202,535	(238,393)	-	155,030
	239,202	210,419	(238,886)	-	210,735

Purposes of restricted funds

The Ivybridge funds are fund specifically given for the Church's work on the Ivybridge estate.

The Foodbank funds are those given towards supporting the Ivybridge foodbank.

Youth worker funds have been given for the employment of a youth / families worker.

Our donations received in December were able to support two charities carrying out valuable work both locally and overseas, those being SOMA and Embracing Age.

Purposes of designated funds

Financial reserve represents the funds identified as the minumum reserves level required by the church.

Building historic costs represents the value of buildings held on the balance sheet which are not readily available as liquid funds.

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