DoGuSvJn Envelope ID." 14460DDAA5DB404C-8F9C-BC44489B84E3 Holy Trinity with Saint Paul, Onslow Square and Saint Augustine, South Kensington Registered Charity No. 1133793 Annual Report and Financial Statements For the year ended 31 December 2023 DoGuSvJn Envelope ID." 14460DDAA5DB404C-8F9C-BC44489B84E3 HOLY TRINITY with SAINT PAUL, ONSLOW SQUARE and SAINT AUGUSTINE, SOUTH KENSINGTON Financial statements for year ended 31 December 2023 Contents Page Annual report Independent audilorfs report 14-17 Statement of financial activities 18 Balance sheet 19 Cash flow statement 20 Notes to the financial statements 21-34 DoGuSvJn Envelope ID." 14460DDAA5DB404C-8F9C-BC44489B84E3 HOLY TRINITY WITH SAINT PAUL, ONSLOW SQUARE AND SAINT AUGUSTINE, SOUTH KENSINGTON Trustees, Annual Report for the year ending 31 December 2023 Reference and administrative information The Parochial Church Council of the Ecclesiastical Parish of Holy Trinity with St Paul, Onslow Square and Sl Augustine South Kensington has the pleasure of presenting its annual report for 2023. In this document. the parish is referred to as HTB and the Parochial Church Council as the PCC. HTB forms part of the Chelsea Deanery in the Episcopal Area of Kensington, within the Diocese of London. The PCC is a body corporate in the terms of the PCC Powers Measure 1956 and a charity subject lo the Charities Act 2011 (registered number.. 11337931. The postal address of the PCC is Holy Trinity Bromplon. Bromplon Road, London, SW7 1 JA. Membership of the PCC is determined by the Church Representslion Rules. HTB has made certain changes lo ils governance structures under these rules. These are explained in the section on Structure, Govemance and Management later in the document. The following lists record those who setved as members of the PCC during the year and the capacities in which they served.. CLERGY MEMBERS Incumbent and Chair.. The Revd Canon Richard I"Archie"} Coales Associate Vicar.. Katherine Chow LAY MEMBERS Churchwardens (both of whom were also elected at the 2023 APCM to the Chelsea Deanery Synod until 31st May 2026)-- Dr Omowunmi Akindolie (Vicé Chalrl MrAngus Winther Stepped down as Churchwarden 81 the 2023 APCM.. Mrs Genevieve Mensah Treasurer (also elected at the 2023 APCM to the Chelsea Deanery Synod untll 31st May 2026).. Mr Augustus Kennedy Safeguarding OfThcer (also elected at the 2023 APCM to the Chelsea Deanery Synod until 31$¢ May 2026).. Mrs Emma Walson Ichurch Safeguarding Officer) Lay members of the PCC elected at the Advisory Church Council meeting on 24th May 2021.. Dr Yael Gardner Mr Steven Kang Ms Busola Sodeinde DoGuSvJn Envelope ID." 14460DDAA5DB404C-8F9C-BC44489B84E3 HOLY TRINITY WITH SAINT PAUL, ONSLOW SQUARE AND SAINT AUGUSTINE, SOUTH KENSINGTON Trustees, Annual Report for the year ending 31 December 2023 Lay members of the PCC elected at the Advisory Church Council meeting on 16th May 2022.. Dr Omowunmi Akindolie (elected Churchwarden at 2023 APCMI Mr David Kay-shullleworth Istepped down 22. March 20231 Mr Jacob Riddall Ist&pp8d down 9° May 20231 Lay members of the PCC elected at the Advisory Church Coun¢iTI meeting on 2yd May 2023.. Mr Usman Alashe Mrs Hiroko Atherton MrAndrew Brydon Mrs Isabella Dewes Mrs Aileen Gan Miss Kiera Oluwunmi New trustees are provided with guidance notes explaining their role and responsibilities as trustees of the charity- All new trustees are fully briefed on the activities and vision of HTB and they pursue the independent interests of the charity notwithstanding their separate responsibilities in other organisalions. HTB uses the banking services of the National Westminster Bank, 186 Brompton Road, Knightsbridge, SW3 1HL. Moore Kingston Smith LLP, 6th Floor, g Appold Street, London, EC2A 2AP were appointed to cary out our audit for 2023. Structure, governance and management HTB'S Parochial Church Council is a corporate body established by the Church of England. It operates under the Parochial Church Council (Powers) Measure 1956 {as amended) and the Church Representation Rules 2020. HTB'S PCC is also 8 registered charity, operating under the requirements of The Charities Act 2011. Al a Special Parochial Church Meeting held in April 2021, the charity passed a resolution to adopt a set of besrx)ke rules to replace the model rules found in Part 9 CRR 2020, which were subsequenuy approved by the Bishop's Council. The HTB rules were further amended in December 2021 and look effect in January 2022. As a result of these changes. there are now only 15 trustees on the PCC to provide more effective governance of the charity- The larger Advisory Church Council is designed to provide support and guidance to the PCC, as well as providing an appropriate level of scrutiny. The Advisory Church Council also acts as an electoral college for the nine lay places on the PCC. Electoral roll All Church of England electoral rolls are completely revised every six years. 2019 was the first year of a new electoral roll where the electoral roll stood at 4,083. The current electoral roll stands at 4,331. Objectives, achievements, and performance HTB is a vibrant Anglican church in the heart of London, with a vision lo play our part in the evangelisation of the nations, the revilalisation of the church and the transformation of society. HTB is led by our Vicar, Archie Coates and has a vision for London- to audaciously, creatively reach Londoners drawing on the diversty of the congregations at our six HTB sites. In 2023, we focused on reaching those outside the church with the Gospel and caring for and supporting those who are most in need. DoGuSvJn Envelope ID." 14460DDAA5DB404C-8F9C-BC44489B84E3 HOLY TRINITY WITH SAINT PAUL, ONSLOW SQUARE AND SAINT AUGUSTINE, SOUTH KENSINGTON Trustees, Annual Report for the year ending 31 December 2023 Services, prayer & worship In 2023 we ran ten services each Sunday across our six HTB Sites. We continue to host the HTB Livestream each Sunday, which broadcasts the 11.30 am service from HTB Bromplon Road on YouTube. Our HTB YouTube Channel now has 68,700 subscribers with an average of 7,500 households stream our service each week. Our Sunday services conlenl also goes out via a podcast where in 2023 we had just under half a million downloads and on our Instagram reels we had one million views. We believe that prayer and worship sel the spiritual temperature of all we do as a church. We provide opportunities through the week, month and year for people lo engage in prayer for our church, our city, our nation, and our world. We run two prayer campaigns annually, in September 2023 1,255 people prayed over 21 days and in J8nuary we had over 200 people praying together online and up to 650 people receiving the prayers every day for a week. Every Tuesday moming, over 100 people meet online each week for pr8yer at KC7.30am. We also meet ice a term for Kingdom Come gatherings where over 600 people pray for our church, nation, and worfd in person al HTB Brompton Road. Kingdom Come on New Year's Eve saw over 1,000 people engaging in prayer and prophetic encounter. We host other prayer events through the week including Monday night prayers in the Hul which attracts 70+ people, the prayer room sees about 70Q/o engagement through the week from 6am to 10pm. All of those praying with others are fully trained to ensure that we provide a safe space for prayer at HTB whatever we are praying for. Evangelisation through Alpha HTB is the birthplace of the Alpha course and is home lo Alpha International which develops and promotes Alpha around the globe. Alpha has a wide reach globally, with courses running in over 100 countries around the world, reaching millions with the gospel. HTB continues lo run Alpha and Alpha Online as the flagship course globally and we receive many visits from church leaders around the worfd who come lo see how Alpha is run at HTB. In 2023, HTB ran Alpha courses both on sile and online. During the 3 terms throughout the year, over 1.550 guests were hosted either in person or online. We cater for a wide range of guests including Farsi- and Chinese-speaking guests. We also hosted Alpha al Wormwood Scrubs prison. and a number of men were baplised. In 2023, 1.8 million people had the opportunity to explore and develop a personal relationship with Jesus through 39,000 churches and organisations running Alpha in 148 nations worldwide. Inspired by our 2033 vision lo make Apha available lo as many people as possible, Alpha International is developing plans to accelerate the growth and impact of Alpha globally, so that people all across the world have the opportunity lo develop a relationship with Jesus. Supporting our congregation and community HTB has a team of 38 clergy and 16 ordinands who help lo provide pastoral support for our congregation and community, as well as chaplaincy in local hospitals and prisons. In 2023 our clergy team provided pastoral services for our congregation and community by supporting those struggling with grief, loss, mental health and a variety of other pastoral challenges. Our community support services are underpinned by a wide range of support courses running both online and in person. These courses help deepen faith, strengthen relationships, and provide support for those facing debt issues, bereavement, eating disorders, and other and emotional issues such as employability and self-worth. In 2023 over 8,600 people registered for one of our pastoral, relationship or family life courses online or in-person al HTB. Our clergy team alongside our Discipleship team support our 97 mid-week Connect Groups (running both online and in-person across London) with resources, leadership training and pastoral support for DoGuSvJn Envelope ID." 14460DDAA5DB404C-8F9C-BC44489B84E3 HOLY TRINITY WITH SAINT PAUL, ONSLOW SQUARE AND SAINT AUGUSTINE, SOUTH KENSINGTON Trustees, Annual Report for the year ending 31 December 2023 the group leaders. Connect groups are the heart of our church, they offer a sense of belonging, friendship and spiritual growth that comes from joining a community within the church. Investing in a rising generation Kids AI HTB Kids we want lo create spaces for children lo encounter God, make friends and have fun al church. Across our 6 siles, we see over 400 children attend every Sunday. We have seen a growth in allendance at our Play Cafe groups, which run at Bromplon Road, Earls Court and Dalgamo Way. The vision for Play Cafe is lo be an easy invite for any parent of a little one aged 04, to be a space where the little one can feel safe and have fun. whilst the parent enjoys a cup of coffee and builds friendships with people al the same stage of life. In 2023 we organised 2 outreach evangelistic events for families, with a 'Trip to the Theatre, al Easter and a 'Heroes of London. Light Party in October. Both events had over 300 children and their parents allend, and 65 volunteers across the HTB sites who helped us put it on. 11 was a great way to engage with families who don't typically attend church and look forward to running more family events in the near future! We also ran a special light party for the children who attend our After School Club al Dalgarno Way. Vve are continuing lo see 30-50 children from the estates allending the club every week, where we create a space for games, crafts and a hot meal. Alongside the dergy across the siles, the HTB Kids team helped lo reimagine our Christmas services and put on our first Christmas Spectacular. Over 2,000 people attended across the 4 locations, and people got lo see the Nativity told in a musical way like no olherl We're excited to begin to plan and pray for how we can engage both families in the church and outside the church in our Easter services and beyond. Youth In HTB Youth, our goal is to create spaces where young people thrive. We have a number of different spaces that aim to reach young people, which in turn encourages them to invite their friends along on the adventure loo. We run seven Sunday youth sessions across our six siles and gather with young people during our midweek activities which consist of Gaming, Upper Room (for our Older Youth & Sixth Formers), Youth Alpha, Friday Squad (for our Younger Youlhl, Youth Band Socials, and school's work. We've continued to connect with young people via PODS, our more intentional spaces of discipleship where young people meet with a leader to read the Bible, pray, and journey logelher in community. And we've been thrilled to see the continued and sustained growth of our monthly Youth All In events, with us ending 2023 by taking 203 young people and team on a Christmas Boat Party down the Thames. Students In September 2023 our students team met with over 500+ students who were new to the city. through University Freshers Fairs and our "Freshers Party" and "Thriving at Uni. events at Onslow Square. Our "Thriving al Uni. workshops night was a particular highlight with contributions from Dr. Kale Middleton on 'managing your mental health at Uni" Professional Chef Cooking tutorials, and sludenl led seminars on "Faith al Uni" and "budget management" We have continued lo meet with Students on Sundays al our 4.30pm service, as well as our Student Groups lin homeslhalls across the City) and Sludenl Nights lal Onslow Squarel which run on alternate Tuesdays throughout lerm-time. Through these regular meetings, monthly Students Socials, and Men's and Women's groups, we have seen our community grow lo 230 registered students. In November, we hosted our annual Weekend Away, tsking over 110 students lo the Poplars in Ledbury for a weekend of Worship and Teaching. DoGuSvJn Envelope ID." 14460DDAA5DB404C-8F9C-BC44489B84E3 HOLY TRINITY WITH SAINT PAUL, ONSLOW SQUARE AND SAINT AUGUSTINE, SOUTH KENSINGTON Trustees, Annual Report for the year ending 31 December 2023 Social transformation activities Our aim is to reach and walk with those on the margins of society in London, showing them the love of Jesus. Our focus is on four ministry areas". prisons, homeless, women and displaced. We do this through our congregational teams who are trained and equipped lo support those in need in these areas. Al Focus 2023, we hosted a series of labs'Kingdom on the Margins.. We hosted three spaces lo discuss prisons ministry {inside and outside) including prison chaplains, women's outreach ministry (particularly churches working in strip club chaplaincy) and asylum-seekers sharing their experiences of being welcomed into the churches across the HTB network, particularly the asylum-seekers that came lo Focus for the first lime with their new church community. New Bloom Café Bloom Cafe will be launching Spring 2024. Bloom is a HTB social enterprise cafe where we desire lo create a safe and welcoming space at the heart of HTB. The cafe will be a space that not only serves the local community but is also embedded within our social transformation team where Bloom will serve as a Central spaTr for the four pillars of our social transformation ministries allowing a space where the team can minister. empower and enrich the lives of those on the margins of society providing a space where they are known and loved to contribute lo the transformation of society- Prisons We are privileged to be able to run Alpha inside HMP Wormwood Scrubs, including hosting Sunday services through the year. We have seen a high lake-up of the course in the prison and in the Autumn term we saw 13 people baptised. Caring for Prison Leavers I'CFPL") al HTB provides crucial care, support and community for people leaving prison. People are invited into the CFPL family and through the six-monlh Bridge Programme, including 1- to-1 coaching, we provide a safe space to explore the Christian faith and grow in discipleship. By walking side-by-side and, together, focusing on Jesus, we aim lo help people to break free from the cycle of reoffending. We invite people to join church communities where they are seen. known, and loved. HOMELESS Wed & Thu Morning Shelter The HTB Shelter is a space where all are welcome, known and loved. We create a dro*in style space, where anyone can come for a cooked meal. housing or debt advice support and a full English breakfast. Al each shelter we have 50-60 guests. Wed & Sat Night Shelter In partnership with Glassdoor Homeless Charity. we offer two-night shelters during the winter months INov-Aprl, with 35 guests staying overnight on our sites (Wed al HTB Queen's Gate and Sal at HTB Earl's Court}. At HTB QG, there is a year-round evening dinner service, with the extended night shelter only during the winter months. Shine Programme & Monthly Lunch Club Our women's ministry includes a nin￿week women's group, going through the Shine Programme. This has grown into a monthly alumni lunch club for women in the programme, as well as other women-only DoGuSvJn Envelope ID." 14460DDAA5DB404C-8F9C-BC44489B84E3 HOLY TRINITY WITH SAINT PAUL, ONSLOW SQUARE AND SAINT AUGUSTINE, SOUTH KENSINGTON Trustees, Annual Report for the year ending 31 December 2023 events throughout the year covering topics such as mental health. baby loss and anti-trafficking awareness. In 2024. we hope lo open a women-only drop-in shelter! Strip Club Chaplaincy From our Focus 2023 seminar "Kingdom on the Margins one seminar related lo women providing chaplaincy support in strip clubs and massage padours. This has grown into a stand-alone ministry, with a core team praying reaching out lo clubs in London. Asylum.Seeker Community Caféls) In 2021. HTB Earl's Court launched the Community Café, a space for any asylum-seeker lo come for a hol meal and a chance to practise English. This has grown lo a community of over 150, including guests joining Alpha in Farsi and Apha in Spanish. This has become its own community. many continue lo come lo the café, even after receiving status and getting housingljobs, to join on the volunteer team. Our Thursday café is smaller but growing with the same mindset. Love Christmas HTB ran the Love Christmas campaign in 2023 for its fourth year, in partnership with the national Love Your Neighbour team, aiming to spread love, hope and kindness lo those in our local community facing difficult circumstsnces. During the Christmas 2023 season, as a congregation we packed over 6,000 'bags of kindness, and delivered them lo prisons, hotels housing asylum-seekers, hostels. homeless and rough sleepers, strip clubs through chaplains, and many others in our community. Crosslight Debt Advice Working with our partners, Crosslighl, HTB provides debt advice services lo those most in need in and outside our community, particularly HTB Shelter on Wednesdays and al HTB Dalgamo Way on Thursdays or Fridays. Through this service we support hundreds of individuals and families facing issues of debt. food poverty and homelessness. Spear North Kensington Vve partner with Spear North Kensington (part of Resurgol, who operate out of HTB Dalgarno Way. Their team operates a 6-week course for young people I1￿24-Year-olds) facing barriers lo education or employment, supported by our clergy team who provide pastoral support. Typically, there are 1 &20 guests on each course. Mission giving Each year we make gifts and lake up offerings for other charities, especially those operating in areas of high need or responding lo crises. During 2023, HTB made gifts through special offerings and from general funds to Alpha Poland's humanitarian response for Ukrainian refugees, London Diocesan Fund, The Church of God of Prophecy, Moody Publishers, Kids Malter, World Vision, Glass Door Homeless Concern, and Power the Fight, as well as donating and dislribuling food and Love Christmas bags of kindness to homeless shelters, prisons, and other charitable organisalions in London. The Bible with Nicky and Pippa Gumbel In 2023 we changed the name of 'Bible in One Year, lo 'The Bible with Nicky and Pippa Gumbel,. The vision remains the same- to reach millions with the bible and to help people develop healthy bible reading pallerns. In 2023, app users continued to grow across IOS and Android apps {lo over 450kl and our website visitors surpassed 1.5 million. Our podcast listeners were up 620/0 to over 14.5k, with 700k subscribers through the Youversion platform across 10 languages. DoGuSvJn Envelope ID." 14460DDAA5DB404C-8F9C-BC44489B84E3 HOLY TRINITY WITH SAINT PAUL, ONSLOW SQUARE AND SAINT AUGUSTINE, SOUTH KENSINGTON Trustees, Annual Report for the year ending 31 December 2023 Church planting and network support HTB has a long history of church planting and is home to Revilalise Trust (formerly the Church Revitslisalion Trust). Revilalise Trust's mission is lo accelerate church growih through planting and revitalising churches, training church leaders, and supporting our existing network of church plants across the country. In 2023, we launched19 new church plants and revitslisalions across England and Wales. The Revitslise Trust is also committed to the Iransfomialion of society. This plays out through Love Your Neighbour, a nation81 alliance of churches from the HTB Network and beyond, working together on the frontline of their local communities to provide practical help, love and ongoing support lo individuals and families in need. In 2023. we ran our second Hub Ac￿leratOr bringing 10 church-based Hubs through 8 7-monlh, 100+ hour training programme. Together in 2023 these hubs delivered 2.7 million meals and helped nearly 3,000 families with debt advice and employment support. 26 Hubs have now been through the Hub Accelerator, with a further 10 planned each year until 2026- so that we have 50+ deeply impactful hubs with geographical spread across the key cities and towns in our nation. In November 2023 we also ran our first Alumni event. 2023 also saw the fourth year of the national Love Christmas initiative which brought together more than 1,000 churches and other organisalions from 34 networks and denominations lo share over 100,000 Bags of Kindness with people who are most isolated and alone, reaching over 250,000 people. 2023 saw our HTB Network summer festival- Focus- return with over 8,000 attendees, including 2,000 young people. from across the Network, with many new church plants participating for the first lime. These involved a wider geographic spread and a higher proportion coming from low-income areas. The event look place al Newark Showground, where we heard from inspiring speakers including Rich Villodas, Tope Koleoso and Naomi Maxwell among others. Attendees enjoyed a programme packed full of activities and seminars across the weekend with an expanded range of entertainments for kids and a large selection of food concessions. Investing in marriages across the globe The Marriage Course and The Pre-marriage Course were both developed at HTB, and the courses have now been completed by millions of couples around the globe. The Marriage Course team, as part of Alpha Inlernalional, focused on four strategic priorities in 2023". improving digital platforms, supporting church leader marriages, pilots'ng the greater evangelistic positioning of these courses and supporting in-progress translations. We are pleased to report that an additional 10 translations of The Marriage Course were launched increasing global accessibility and taking the total number of translations 45. National Alpha Offices INAOS) in 15 countries hosted a global event, 'The Marriage Course Experience,, where church leader couples were invited lo join the course which included a new. exclusive episode, "Marriage and Ministry.. The event was very well received, and we are delighted that many NAOS will be hosting the event again in 2024. Having received a generous donation, we began work on a new global website, which we plan lo launch in Q1 2024. This new website will have a brand new 'Find-a- Course, feature lo enable couples to easily search for and find the course that best suits them, whether in-person or online. Developing and empowering Christian leaders Leadership Conference The Leadership Conference is a unique opportunity for leaders in every sphere across contexts, traditions, generations, and cultures - lo gather as one, encounter Jesus, and be filled with the Holy Spirit. For the first time in 4 years, we hosted the Leadership Conference at the Royal Albert Hall on 1 DoGuSvJn Envelope ID." 14460DDAA5DB404C-8F9C-BC44489B84E3 HOLY TRINITY WITH SAINT PAUL, ONSLOW SQUARE AND SAINT AUGUSTINE, SOUTH KENSINGTON Trustees, Annual Report for the year ending 31 December 2023 and 2 May 2023. Over 5,000 leaders from 68 countries and from 28 denominations gathered together for 2 days of worship, prayer, talks, interviews, seminars and networking. Over 53,000 people from 143 countries registered for LC Online, which was hosted on 24 and 25 May, with the best of the conference from the Royal Albert Hall distilled into a 2-hour 15-minute event that was streamed and hosted live across four time slots. LC24 tskes place on 6 and 7 May and we can't waitl HTB Leadership Development Year The Leadership Development Year is a year-long programme for young leaders118-351 lo deepen their relationship with Jesus, develop their gifts and discover their calling. In 2023 we welcomed 15 new students, equipping them through teaching in theology, leadership, character and emotional health as well as developing them practically through their mid-week ministry placements. We regularly join with other LDY programmes across the HTB Network, hosting m8Sterclass style sessions, growing and building inter-church re181ionship. The students benefit from 1-1 coaching and pastoring and are developed through attending retreats and conferences. The majority of LDY students go on to work in ministry, often within HTB and the Network, or allend Sl Mellitus College after their year with us. Those who haven't discerned a call lo go into full time ministry have stayed connected lo the Church and are living out their faith through their work. Theological Training HTB Courtfield Gardens is home lo St Paul's Theological Centre ISPTCI. SPTC has seen remarkable growth as part of Sl Mellilus College ISMCI. This year, over 450 students have aC￿sSed our programmes with 198 undertaking ordination and 137 being sent out lo serve curacies across the country. HTB along with CRT, SPTC and SMC have in recent years pioneered two allernalive pathways to ordination 'The Peter Stream, and 'The Caleb Stream., The Peter stream seeks to redress the most significanuy underrepresented demographics in ordained leadership in the Church of England and focuses on championing those from ethnic minority groups, from disadvantaged socio-economic backgrounds, and those who do not have a background in higher education. The Caleb Stream is a discernment and training pathway towards ordinalion for mature lay leaders, enabling them to train for the diaconate within one year, il aims to mobilise a generation rich in Christian leadership and life experience lo serve in parishes across the UK. In September 2023, 20 new candidates joined the Peter Stream and a further 36 joined the Caleb Stream. Plans for the Future This year we are looking forward lo pushing further into the vision of reaching London together, with a particular focus on reaching young people, those outside the Church, and supporting those who are most in need in our community. We plan to continue with many of the initiatives mentioned above in line with the PCC'S strategies to drive the vision of HTB. HTB Rernuneration Policy, Principles and Governance We place great value on our highly lalenled. dedicated, and passionate staff team, wilhoul whom we could not deliver against our vision, mission, and goals. Our remuneration policy is aimed at ensuring that pay is competitive within our sector, rewards staff fairly and enables the staff team to feel valued. Our principle is to reward staff, irrespective of seniority, informed by the following.. Fairness., without discrimination and with parity Differenlialion.. lo reflect a comkiination of what Is achieved and the way in which it is achieved Compliance with all HMRC and Charity Commission requirements DoGuSvJn Envelope ID." 14460DDAA5DB404C-8F9C-BC44489B84E3 HOLY TRINITY WITH SAINT PAUL, ONSLOW SQUARE AND SAINT AUGUSTINE, SOUTH KENSINGTON Trustees, Annual Report for the year ending 31 December 2023 Affordability,. with good stewardship In line with at least the London Living Wage for 2023 for all London-based staff and the 2023 Real Living Wage for UK regionally based staff. The HTB Group entities (HTB, Alpha International IAII, the Revitslisation Trust and St Paul's Theological Centre ISPTCI operate in close co-operation and within a shared operating model, including 8 common approach lo pay and benefits for all staff employed within the group entities. The HTB Group Remuneration Committee I"Group Remco'l is a joint sub-committee ofthe HTB PCC and the CRT and SPTC boards and includes representab.ves from each. Alpha International has ils own Global Remuneration Committee (Global Remcol. In order lo maintain a untried approach, Group and Global Remco interface through the HTB Group COO who sils on both committees. Authority has been delegated by each of the entity boards to the relevant Group and Global Remco, lo oversee remuneration on behalf of each board whilst acting within the group remuneration framework. Financial review Results for the year HTB reported a nel shortfall of £366,832 on restricted and unrestricted funds in 202312022.. £382,387). Given that our budget for the year had reflected a stretching funding target, the shortfall was an acceptable result given Ihe challenging economic backdrop and will be covered from reserves. Income from all donations and legacies was lower by 4.7Q/o al £9.Om {2022= £9.5ml. Although we have more people giving than ever before, the average gift size is lower resulting in overall lower giving across regular and one-off giving. Income from other sources stood al £447k, which was al a similar level lo the previous year. The pressure on income has caused us lo manage budgets carefully, and despite rising inflation costs have decreased by 4Q/o al £9.8m (compared lo £10.2 million in 20221. The most significant contribution lo this reduction in spends has been from vacant roles. Restricted funds Restricted fvnds comprise donations given for a specific ministry purpose. As of 31 December 2023, the unspent portion of these funds amounted lo £201,85612022- £256,977). Fundraising policy HTB receives most of ils donation income from ils congregation. However, we occasionally approach other organisalions and grant-makers lo assist with special projects. The trustees are committed to maintaining the highest legal and ethical standards in the way the charity undertakes ils fundraising activities. All fundraising takes place in-house, and the charity does not use any professional fundraisers or commercial participators. HTB is commilled lo abiding by the Code of Fundraising Practi￿ and lo the Fundraising Promise. Due lo the size of our congregation and the number of donations of all sizes we receive each week. we cannot fully investigate each donation. However. HTB lakes precautions in our fundraising to ensure the protection of the public, including vulnerable persons from unreasonably inlrusive or persistent fundraising approaches, and undue pressure lo donate. Our team lake seriously any expression of dissalisfaclion we receive regarding our fundraising practice and aim to resolve any complaints as quickly as possible. Our policy is lo escalate complaints internally lo the HTB Group Chief Operating Offi￿r. If the complaint cannot be resolved, it will be further escalated lo the Chair of the PCC lour church board of trustees), who will nominate an independent reviewer to consider the merits of the DoGuSvJn Envelope ID." 14460DDAA5DB404C-8F9C-BC44489B84E3 HOLY TRINITY WITH SAINT PAUL, ONSLOW SQUARE AND SAINT AUGUSTINE, SOUTH KENSINGTON Trustees, Annual Report for the year ending 31 December 2023 complaint 8nd any resulting actions. If necessary, we will contact the Charity Commission for advice and guidance. There were no complaints made in 202312022.. none). GDPR HTB has responded lo the General Data Protection Regulation IGDPRI, introduced in May 2018, and continues to monitor the use of data carefully, particularty concerning donor data. Our Privacy Policy covers how we use donor data and gives donors the option to opt out of any contact or make a formal complaint. We carefully monitor the relationships we have with donors and seek lo maintain a consislenl standard of stewardship based on the guidance of the Code of Fundraising Practice and the Fundraising Promise. Reserves pollcy The trustees believe that HTB relies on God's provision for the financial resources needed lo fund its work. Consequently, the policy of the Church is not lo build up reserves beyond the operating needs of the charity and, whenever possible, lo expend income received within a year of ils receipt. However, in order lo ensure that the church has sufficient working capital to meet ils obligations to ils employees and creditors, the Trustees aim lo hold sufficient 'free" reserves (equivalent to cash and liquid assets) lo cover at least three months, nel expenditure after taking into account regular monthly donation income. Free reserves on 31 December 2023 sland al £3m 12022.. £3ml against a target, based on 2024 budgeted costs, of £1.14m. For 2023 free reserves have been calculated as unrestricted funds less intangible assets, unrestricted portion of tangible assets and long-temi debtors expected lo be settled over a few years (Note 171. The Trustees will continue to be mindful of the reserves target in making financial decisions and allocating resources during the current year. Grant making policy HTB made grants lo Alpha International and the Church Revilalisation Trust in 2023, whose activities are an integral part of the overall vision of the church as sel out above. Additional smaller grants are awarded lo organisalions and church members working in mission. Special appeals al services and events raise money for specific charities. The tssk of deciding how lo distribute grants for external mission giving is delegated lo the Mission Giving Committee. Grants are awarded lo organisalions and church members working in mission after an evaluation of each case. All giving follows HTB'S mission policy of the promotion of the Christian gospel in proclamation and social action throughout the world. For details of the organisalions supported please see note 8 to the financial slalemenls. Risk managoment The PCC has a risk register which covers the major risks to which the charity is exposed, and this is updated at least annually. Where appropriate. systems and procedures have been established to mitigate the risks that the ¢hur¢h faces. The schedule of major risks and uncertainties identified by the PCC is sel out on pages 12 and 13. Related parties Details of Related Parties are given in note 25 of the financial statements. 10 DoGuSvJn Envelope ID." 14460DDAA5DB404C-8F9C-BC44489B84E3 HOLY TRINITY WITH SAINT PAUL, ONSLOW SQUARE AND SAINT AUGUSTINE, SOUTH KENSINGTON Trustees, Annual Report for the year ending 31 December 2023 STATEMENT OF RESPONSIBILITIES OF THE PAROCHIAL CHURCH COUNCIL The PCC is responsible for preparing the Annual Report and financial statements In accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. Charity law requires the PCC lo prepare a statement of financial activities and ststemenl of assets and liabilities for each financial year, which gives a true and fair view of the state of affairs of the church and of its financial activities for that year and adequately distinguishes any material special trust or other reslricled fund of the chU￿h. In preparing those financial statements the PCC is required to.. select suitable accounting policies and then apply them consistently. comply with applicable accounting standards, including FRS 102, subject lo any material. departures disclosed and explained in the financial statements. state whether a Statement of Recommended practi￿ ISORPI applies and has been followed, subject to any material departures which are explained in the financial slatemenls. make judgements and estimates that are reasonable and prudent. prepare the financial statements on a going concem basis unless il Is inappropriate to presume that the charitsble company will continue in business. The Parochi81 Church Council is responsible for keeping proper accounting records which disclose, with reasonable accuracy al any time, the financial position of the church, and lo enable them to ensure that the financial statements comply with applicable Accounting Standards and Statements of Recommended Practice and the regulations made under s154 of the Charities Act 2011. 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 irregularities. All the current members of the Parochial Church Council have taken all the steps which they ought lo make themselves aware of any infomialion needed by the auditors for the purposes of their audit and to establish that the auditors are aware of that information. The current members of the Parochial Church Council are not aware of any relevant audit information of which the auditors are unaware. Publlc beneflt The PCC is aware of the Charity Commission's guidance on public benefit in °The advancement of religion for the Public Benefit. and have had regard lo il in its administration of the church. In shaping our objectives for the year and planning our aclivilies, the trustees have considered the Charity Commission's guidance on public benefit, including the guidance 'public benefit.. running a charity IPB21' The PCC believes that by promoting the Christian faith it provides a benefit to the public by- Providing facilities for public worship, pastoral care and spiritual development, both for existing church members and for anyone who wishes lo benefit from what the church offers- and Promoting Christian values, and service by members of the church in and to their communities. to the benefit of individuals and society as a whole. Approved by the PCC of Holy Trinity with Saint Paul, Onslow Square and Saint Augustine, South Kensington and signed on its behalf on 10 April 2024 by dwl CortlLS The Rev'd Canon Archie Coales DoGuSvJn Envelope ID." 14460DDAA5DB404C-8F9C-BC44489B84E3 HOLY TRINITY WITH SAINT PAUL, ONSLOW SQUARE AND SAINT AUGUSTINE, SOUTH KENSINGTON Trustees, Annual Report for the year ending 31 December 2023 MAJOR RISKS AND UNCERTAINTIES Potential Risk Impact and Cause Loss of confidence by st3keholders due to the behaviour of senior leadership or staff mernbers. Mitigation Organisètional values are clearly defined and regularly communicated. Oversight and governance structures are in place for senior leaders and staff. Feedback mechanisms are being strengthened alongside building a culture of en and transparent feedback. Succession planning is under continual review for all senior roles. Recent successful transition to a new Vicar of HTB. PCC meetings and structures are compliant with Charity Commission and church law requirements. Conflitts of interest are managed and disclosed. A Group Governance framework has been developed governing the operation of cros5- group relationships 3nd ensuring appropriate coordination and risk management across the group. The number of overlapping trustees is limited and each board makes decisions independently, ensuring that these decisions are in the best interests of their charity. We ensure that there 15 a broad and diverse representation on ourACC, PCC and other key groups who have a voice in the life of the church. We promote a culture of listenin8 and seeking feedback at all levels of the church to inform our approach. Current theological teaching forms the basis of all our preachin& teaching, and resources at HTB. HTB currently hold5 a high level of reserves Future of the organisation jeopardised due to lack of adequate succession planning for key senior roles Poor decision-making and breach of regulztorv requirements due to weak or non- compliant governance structures. Complex and inter-connected governance relationships across the HTB Group result in conflicts of interest and overlapping responsibilities and increase the risk of issues arising having a knock-on effect cross the group. The church fails to keep up with changing culture and norms andlor those changes conflirt with core Christian theoltsgy and practice Potential of financial reserves and cashflow running low due to a downturn in financial outlook for HT8 or other unforeseen financial challenges. Church income does not keep up with costs, due to rising inflation, economic conditions, or other circumstances. Harm comes to those in our care due to lack of appropriate and cornpliant child and vulnerable adult safeguarding procedures Costs 3re being managed in line with income and cost5 and activity being adjusted accordingly. Safeguarding at HTB is overseen by a PCC Safeguarding Officer and an experienced Safeguarding advisor employed by HTB. They oversee a system of training and controls to ensure that best practice safeguarding 15 implemented at HTB. HTB works c105ely with the Diocese of London to ensure accountability and oversight. 12 DoGuSvJn Envelope ID." 14460DDAA5DB404C-8F9C-BC44489B84E3 HOLY TRINITY WITH SAINT PAUL, ONSLOW SQUARE AND SAINT AUGUSTINE, SOUTH KENSINGTON Trustees, Annual Report for the year ending 31 December 2023 Harm come5 to visitors or staff due to lack of appropriate and compliant Health & Safety procedures Internal and external H&S advisors monitor and report on risk areas identified. There is a system of H&S training in place for all staff and regular reporting takes place to senior leadership on risk areas identified and mitigating action taken. io. Cyber Security risks increase as technology changes. Continuous reviÈw of risk5, education of staff and ongoing investment in tech solution5 which counter thi5 ii. Inability to operate in the event of a disaster due to lack of adequate business continuity planning. Business continuity compromised or critlC31 data lost through cyber-attack. Significant inve5trnent has been made in upgrading digital and technology systems, including moves to largely cloud-based 5y5tems which has increased resilience. We demonstrated during the pandemic our ability to respond flexibly and quickly in a crisis to organisational needs. Internal and external GDPR advisors monitor and report on risk areas identified. There is a system of GDPR training in place for all Staff. A data man3gement framework 15 in place and subjert to continuous review and improvement. The HTB team work closely with the CRT team to ensure that key risks are properlv managed. The Vicar of HTB leads the event. 12. Data security breach or failure to demonstrate compliance with GDPR requirement5 could result in a significant fine or other regulatory action andlor loss of confidence by our congregation. 13. HTB remains liable due to overlapping respon5ibilitie5 for risks related to Focus, including H&S, Safeguarding and other reputational issues. Health and safety issues andlor unforeseen costs arise on the listed buildings making up the HTB campu5. 14. We have a programme of ongoing maintenance in place to identify repairs required, to ensure these are dealt with in timely manner where needed 3nd to highlight areas of significant risk. 13 DoGuSvJn Envelope ID." 14460DDAA5DB404C-8F9C-BC44489B84E3 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE PCC OF HOLY TRINITY WITH SAINT PAUL, ONSLOW SQUARE AND SAINT AUGUSTINE, SOUTH KENSINGTON Oplnlon We have audited the financial slalemenls of Holy Trinity with Saint Paul, Onslow Square and Saint Augustine, South Kensington for the year ended 31 December 2023 which comprise the Statement of Financial Activities, the Balance Sheet. the Cash Flow Statement and notes lo the financial slatemenls, including a summary of significant accounting policies. The financial reporting framework that has been applied in their pfftparation is applicable law and United Kingdom Accounting Standards, including FRS 102 'The Financial Reporting Standard Applicable in the UK and Ireland, Iunited Kingdom Generally AC￿pIed Accounting Praclicel- In our opinion the financial slalements.. give a true and fair view of the slate of the charity's affairs as at 31 December 2023. and of ils incoming reSoUr￿S and application of resources, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting practi￿., and have been prepared in accordance with the requirements of the Charities Act 2011. Basls for oplnlon We conducted our audit in accordance wlh International Standards on Auditing IUKI IISASIUKI) and applicable law. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the audit of financial slalemenls section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant lo our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance wlh these requirements. We believe that the audit eviden￿ we have obtsined is sufficient and appropriate lo provide a basis for our opinion. Concluslons relatlng to golng concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial slalements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity s ability to continue as a going concern for a period of at least twelve months from when the financial ststements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Othgr infomiation The other infomiation wmprises the infomiation included in the annual report, other than the financial statements and our auditor's report Ihereon. The PCC members are responsible for the other informats'on. Our opinion on the financial stslemenls does not cover the other information and, ex￿p[ to the extent othetwise explicitly slated in our report, we do not express any form of assurance conclusion Ihereon. 14 DoGuSvJn Envelope ID." 14460DDAA5DB404C-8F9C-BC44489B84E3 In connection with our audit of the financial stslements, our responsibility is lo read the other information and, in doing so, consider whether the other information is materially inconsislenl with the financial statements or our kno￿edge obtained in the audit or otherwise appears lo be materially misslaled. If we identify such material inconsistencies or apparent material misslalements, we are required lo determine whether there is a material misstslement in the financial statements or a material misslatemenl of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required lo report that fact. We have nothing to report in this regard. Matters on which we are roquirgd to report by gxcgption We have nothing lo report in respect of the following matters where the Charities Act 2011 requires us lo report to you if, in our opinion.. the information given in the Annual Report is inconsislenl in any material respect wth the financial stalemenls., or the charity has not kept adequate accounting records., or the financial statements are not in agreement wth the accounting records and retLJrns', or we have not received all the information and explanations we required for our audit. Responslbllltles of PCC members As explained more fully in the PCC members, ￿SponSIbl1111eS statement sel out on page 10, the PCC members are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the PCC members determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether dLJe lo fraud or error. In preparing the financial statements, the PCC members are responsible for assessing the charivs ability lo continue as a going concem, disclosing. as applicable, matters related to going concern and using the going concern basis of accounting unless the PCC members either intend to liquidate the charity or to cease operations, or have no realistic allernalive bul to do so. As part of an audit in accordance with ISAS IUKI we exercise professional judgement and maintsin professional scepticism throughout the audit. We also.. Identify and assess the risks of materi81 misstatement of the financial slatemenls, whether due lo fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstalemenl resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations. or the override of internal control. Obtsin an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstsnces, bul not for the purposes of expressing an opinion on the effectiveness of the charity's internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and ￿lated disclosures made by the PCC members. 15 DoGuSvJn Envelope ID." 14460DDAA5DB404C-8F9C-BC44489B84E3 Conclude on the appropriateness of the PCC members, use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast signrficant doubt on the charity's ability to continLJe as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditorfs report lo the related disclosures in the financial statements or, if such disclosures are inadequate, lo modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the charity lo cease to continue as a going concern. Evaluate the overall presentation, structure and conlenl of the financial slatemenls, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governan￿ regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any signrficant deficiencies in internal control that we identify during our audit. Explanatlon as to what extent the audlt was consldered capable of detectlng Irregularltles, Includlng fraud Irregularities, including fraud, are instsnces of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to delecl material misstatements in respect of irregularities, including fraud. The extent lo which our procedures are capable of detecting irregularities, including fraud is detailed below. Tho objectives of our audit in respect of fraud. ao., lo identify and assess the risks of material misstatement of the financial statements due lo fraud. to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due lo fraud, through designing and implementing appropriate responses to those assessed risks,. and lo respond appropriately to in$tsn￿S of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both managemenl and those charged wth governance of the charity. Our approach was as follows.. We obtained an understsnding of the legal and regulatory requirements applicable to the charity and considered that the most significant are the Charities Act 2011, the Charity SORP, and UK financial reporting stsndards as issued by the Financial Reporting Council. We obtained an understanding of how the charity complies with these requirements by discussions wth management and those charged wlh govemance. We assessed the risk of material misstalemenl of the financial statements, including the risk of material misslatemenl due to fraud and how il might occur, by holding discussions with management and those charged wth governance. There are inherent limitations in the audit prO￿dureS described above. We are less likely to become aware of instsnces of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not dete¢ling a material misststement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate cOn￿alment by, for example, forgery or intentional misrepresentslions, or through collusion. 16 DoGuSvJn Envelope ID." 14460DDAA5DB404C-8F9C-BC44489B84E3 Use of thls report This report is made solely to the PCC'S members, as a body, in accordance with Chapter 3 of Part 8 of the Charities Act 2011. Our audit work has been undertaken so that we might slate to the members of the PCC those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permilled by law, we do not accept or assume responsibility to any party other than the charity and members of the PCC as a body, for our audit work, for this report, or for the opinion we have formed. K, L(} Moore Kingston Smith LLP, Statutory Auditor 6th Floor, g Appold Street, London. EC2A 2AP Date.. 16 April 2024 Moore Kingston Smith LLP is eligible to act as auditor in terms of Section 1212 of the Companies Act 2006. 17 DoGuSvJn Envelope ID." 14460DDAA5DB404C-8F9C-BC44489B84E3 HOLY TRINITY with SAINT PAUL, ONSLOW SQUARE and SAINT AUGUSTINE. SOUTH KENSINGTON STATEMENT of FINANCIAL ACTIVITIES Forthe year ended 31 December 2023 2022 2028 Restricted funds Unrestricted lunds Endowment funds Total funds Total funds Notes INCOME FROM- Donation$ and le8a¢ies 3a) 8,547,255 490.594 9,037.849 9,481,026 Incomelrom charitable acti¥itits 3bl 169,203 169,203 94,832 Property and other irbvestment income 3cl 273,418 5.082 278,5¢JO 271,184 TOTAL INCOME 8,989.876 495.676 9.485.552 9,847,042 EXPENDITLIRE ON- Charttable artivltles 4t07 8,2LI,938 573.430 8,785,368 8,922,673 Grants and Mission Gl¥in# 784,330 21,642 805,972 976,185 Raisin8funds 228,934 228.934 278,875 Property management costs io 36,731 36,731 34,612 TOTAL EXPENDITURE 9,Z61,933 595.072 9.857,W5 10.212,345 NET IEXPENDITUREIIINCOME BEFORE INVESTMENT GAINIILOSSI 1272.0571 199.3961 1371.4531 1365,3031 GalnllLoss1 on Investment 4,621 4,611 117,0841 NET IEXPENDITUREIIINCOME 1272.0571 199.3961 4.621 1366.8321 1382.3871 Transfer of Restrirted Fund 22 144,2751 44,275 NET MOVEMEt4TS IN FUNOS 1316,3321 155.1211 4,621 1366,8321 1382,3871 FUNDS BROUGHT FORWARD AT I JANUARY 3,767,972 256,977 91,252 4,116,201 4,498,588 FUNDS AT 31 DECEMBER 21 3,451,640 101,856 95,873 3,749,369 4.116,201 All amounts are derived frorn continuin8 activitie5. The notes on pages 22 to 36 form part of these financial statements. All recognised gains and105se5 are included in the statement of financial activitie5. DoGuSvJn Envelope ID." 14460DDAA5DB404C-8F9C-BC44489B84E3 HOLY TRINITY wlth SAINT PAUL, ONSLOW SQUARE and SAINT AUGUSTINE, SOUTH KENSINGTON BALANCE SHEET As at 31 December 2023 Notes 2023 2022 FIXEO ASSETS IntanBlble assets 14 63,740 65,490 Tangible assets 15 312,983 546,761 Investments 16 95,873 91,252 Total fixed assets 472,596 703,503 CURRENT ASSETS stock ol books and publlcatlons 22,697 26.283 Debtors 17 1,067,010 1,129,073 Cash at bank and in haNI 18 3,192,756 3.385,849 Total current assets 4,282,463 4,541,205 Less.. liabilities falling due within one year 19 1926,6321 1979,2281 Net current a55ets 3,355,831 3,561,977 3,828,427 4,265,480 Le55'. liabilitiesfalling due in more than one year 20 179,0581 1149,2791 NET ASSETS 3,749,369 4.116,201 FUNDS Unre5tricled 3,451,640 3,767,972 Restri¢ted 22 201,856 256,977 Endtswment 23 95,873 91,252 TOTAL FUNDS 3,749,369 4,116,201 The note5 on pages 21 to 34 form part of these financial statements. These financial statements were approved by the Pèrochial Church Council on 2510312024 and signed on its behalf bv.. Gus Kennedy Treasurer & Trustee 19 DoGuSvJn Envelope ID." 14460DDAA5DB404C-8F9C-BC44489B84E3 HOLY TRINITY wlth SAINT PAUL, ONSLOW SQUARE and SAINT AUGUSTINE, SOUTH KENSINGTON STATEMENT OF CASH FLOWS For the year ended 31 December 2023 2023 2022 Notes NET IDEFICITIISURPLUS FOR THE YEAR Adjustments for.. Depreciation and amortisation Losses on Disposals Unrealised Igainl Iloss from investments Decrease in stock Decrease/llncreasel in debtors De¢rea5e in Creditors 1366,8321 1382,3871 14, 15 380,653 31.395 14,6211 3,586 62,063 15,7811 496,414 17,084 1,895 514,197 44,631 467,295 1,074,221 NET CASH INFLOW FROM OPERATING ACTIVITIES 100,463 691,834 CASH FLOWS FROM INVESTING ACTIVITIES Purchase of tangible fixed assets Purchase of intangiblÈ fixed assets 1136,8751 139.6441 1407.9681 173,0141 1176,5191 1480,9821 CASH FLOWS FROM FINANCING ACTIVITIES Finance Lease Payments 1117.0371 1173,3561 1117,0371 1173,3561 IDECREASEIIINCREASE IN CASH IN THE YEAR 1193,0931 37,496 NET CASH FUNDS AT I JANUARY 3,385,849 3,348,353 NET CASH FUNDS AT 31 DECEMBER 3 192 756 3 385 849 NET FUNDS RECONCILIATION l January 2023 Other Cash flows movements 31 December 2023 Cash at bank and in hand Finance leases Net funds 3,385,849 1250,7241 3,135,125 1193,0931 110,616 82,477 3,192,756 1140,1081 3,052.648 19. 20 The notes on pages 21 to 34 fortn part of these finantial statÈments. 20 DoGuSvJn Envelope ID." 14460DDAA5DB404C-8F9C-BC44489B84E3 HOLY TRINITY wlth SAINT PAUL, ONSLOW SQUARE and SAINT AUGUSTINE, SOUTH KENSINGTON NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2023 I. ACCOUNTING POLICIES These financial statements are prepared on a going concern basis, under the historical cost convention, as modified by the revaluation of inve5tment5 which are me35ured at fair v31ue through income and expenditure within the Staternent of Financial The financial Statements have been prepared on behalf of the PCC in accordance wtth the Church Accounting Regulations 2006 together with the Financial Reporring Standard applic3ble in the UK and Republic of Ireland IFRS 1021. The Charity IS 3 public benefit entity for the purpose5 01 FRS 102 ind therefore the Charity also prepared it5 financial 5titerDents in accordance with the Statement of Recommended Pr3Ctice applic3ble to charities preparing their 3ccounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IThe FRS 102 Charities SORPI and the Charities Act. The fin3ncial statements 8re prepared in sterling, which is the functional currency of the charity. Monetary amounts in these rinancial 5t3ternent5 are rounded to the nearest pound. Goin concern The PCC has assessed whether th& use of the going concern basis is appropriate and have considered possible events or conditions that might cast signific3nt doubt on the ability of the charityto continue 35 a going concern. The PCC has made this a55e55rnent for a period of at least one year from the date of approval of the financial statements.The PCC h35 concluded that there is 3 reasonable expectation that the charity has adequate re50urce5 to continue in operational existence for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial st3rements. Funds General funds represent the fund5 of the PCC that are not subject to any restrictions regarding their use and are available for application on the general purposes of the PCC. Restricted funds represent those received for specific purposes as specified by the donors. The account5 include all tr3nsactions, assets and liabilitie5 for which the PCC Bre responsible in law. Endowment fund5 are funds which have been donated as capital funds. Income Oonatlons and legacies Donations arÈ rÈcognised whÈn received by or on behalf of the PCC or in the case of pledgÉd donations when the PCC Is notified of its legal entitlement, the amount due is quantifiable and its ultimate receipt by the PCC is probable. Income tax recoverable on Gift Aid donations Is recognised when the income is retognised. Grants and legacies to the PCC are accounted for as soon as the PCC is otified of its leg31 entitlement, the amount due is quantifiable and its ultimate receipt bythe PCC is probable. Income from Investments Rental incorne frorn the letting of church premi5e5 is recogni5ed when the rental 15 due. Interest entitlernents on bank account5 Bre accounted for as they accrue. Government rants Grants relating to revenue are reiognised in incomè on a 5yStematic basis over the pÉriods in whith the entity recognisÈs thÈ associated costs for which the grant Is intended to cornpensate. EM endlture Mission givinK Grants and donations are accounted for when due. oiher expenditure relating to the work of the church The parish's contribution to the costs of the Diocese is accounted for when payable. Pension costs The church contributes to a group personal defined contribution pension scheme. All pension costs are charged in the statement of DoGuSvJn Envelope ID." 14460DDAA5DB404C-8F9C-BC44489B84E3 HOLY TRINITY with SAINT PAUL, ONSLOW SQUARE and SAINT AUGUSTINE, SOUTH KENSINGTON NOTES TOTHE FINANCIAL STATEMENTS Forthe year ended 31 December 2023 I. ACCOUNTING POLICIES Itontinuedl ort Costs A strong p8rtnership and working relationship is enjoyed between Holy Trinity Brompton, Alpha International St Paul's Theological Centre 3nd Church Revitalisation Trust. Sh3red service costs (known as Central Servicesl are borne by HTB and then recharged to the other charities using the m05t appropriate driver for eath 5erwcÈ c05t type. ThÈ5e SUPPOrt CtrSts are then allocatèd bÈtweÈn charitable activities based on estimates of the resources employed by Central Services towards each of these activities. Intan ible fixed assets Software costs have been capitalised at historic cost and amortised on a straight line basis over 2 years. Tan ible fixed a￿ts Consecrated land and building$ and other rhurch property The PCC has the use of consecrated property in Brompton Road, Onslow Square and Queen's Gate together with benefice property Iclergy accommodation) which is excluded from the accounts by virtue of s.10121 of the Charities Act 2011. Movable church furnishings held by the Vic8r 3nd Churchwardens on special trust for the PCC and which require a faculty for disposal are capitali5ed where appropriate 3nd allocated to the appropriate fixed asset category, 35 per the policy below. These item5 are regarded as inalienable property and are listed in the church'5 inventory which can be in5petted lat any rèasonable timel. InaliÈnable property acquired prior to 2000 has not been capitalised as there is Insufficient cost Information available. The £hurch halls and certain clergy accommodation are held in trust by the London Diocesan Fund on behalf of the PCC. These properties ère essential for the mission of the church and have been in use for many years. Accordingly, they have not been capitali5ed as there is insufficient cost information and their dep￿CIated cost is unlikely to be rnateri31. All expenditure on consecrated oi benefice building5 15 written off in the year of expenditure. Computer equipment. othèr equipment and furniture and fittings ThesÈ assets are deprÈciatÉd on a straight line basis over thÈir ÈstimatÈd useful livÈs. The pÈriods used are as follows.. Computer equipment- 2 years other equipment- 3 to 5 years Individual item5 Wlth a purchase price of £1,000 or less are written off when the asset is acquired. The carrying values of tangible fixed assets are reviewed for impairment in periods when events or chanEes in circumstances indicate the C3rrying value may not be recoverable. Flxed asset InVe￿methts Investments are Initially measured at their cost and subsequently measured at their fair value at each reporting date. Changes in fair value and gains and losses arising on the disposal of Investments are credited or charged to the Income or expenditure section of the Statement of Financial Activities as 'gains or losse5 on investments, and are allocated to the appropriate fund holding or disposing of the relevant investment. Flnantlal Instruments The charity has eleited to apply the provisions of Section 11 'Basic Financial Instruments, of FRS 102 to 311 of its fin3ncial instrument5. Financial instrument5 are recognised in the charity's balance Sheet when the chairty becomes p3rty to the iontractual provi5ion5 of thÈ instrutnent. Financial assets and liabilities are oflset, with the net amounts presented in the financial statements, when thprÈ is a legally enforceable right to set off the recognised amounts and there is an Intentlon to settle on a net basis or to reallse the asset and settle the With the exceptions of prepayments and deferred income all other debtor and creditor balances are considered to be basic financial In5trurnent5 under FRS 10215ee notes 17, 19 and 20 in thi5 respect). Debtors Amounts owing at 31 December in respect of fees, rents and other income 3re shown as debtors less 3ny provision5 for amounts that rnay prove uncollectable. Cash and cash e uivalents Cash and cash equivalents include cash in hand, deposits held at call with banks. other short-tem liquid investments with original maturities of three months or less. 22 DoGuSvJn Envelope ID." 14460DDAA5DB404C-8F9C-BC44489B84E3 HOLY TRINITY with SAINT PAUL, ONSLOW SQUARE and SAINT AUGUSTINE, SOUTH KENSINGTON NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2023 I. ACCOUNTING POLICIES l¢oAtinuedl Stotk Stock is stated at the lower of c05t or net realisable value. Creditors Creditors arÈ recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliablv. eraiin leases Rentals paid under operating le3ses are charged to the Statement of Financial Activities on a strèight line basis over the lease term. Finance leases A55ets held under hire purchase agreements are c4Pltali5ed and di5c105ed under tangible fixed a55ets at fair value. The Capital element of the future payments is treated a5 a liability and the interest is charged to the income and expense account at a constant rate of charge on thÈ balance of capital repaymÈnts outstanding. Em lo ee beneffts The costs of short_term employee benefits are recognised as a liability and an expense. Pension scheme arran ements The charity operates 3 defined contribution pension scheme and contributions payable 8re charged to the Statement of Financial Criti¢al at¢ourtlin estimates and areas of ud ement In preparing financi315tatementS It 15 necessary to rnake cert4in judgement5, e5timate5 and a55umptlOnS that affect the amounts recognised in the financial statements. The following judgements and estimates are considered by the PCC to have most significant effect on amount5 rÈrognised in the finan¢ial ststements. lil Useful E¢ont)mi¢ Llves The annual depreciation charge for Property, plant and equipment is sen51tive to change in the estimated useful economic lives and residual v81ues of assets. These are reassessed annually 8nd 8mended where necessary to reflect current circumstances. 1111 Support cost allocatlons The allocation of support costs between activities is based on estimates of the resources used by Central Services on each of these 23 DoGuSvJn Envelope ID." 14460DDAA5DB404C-8F9C-BC44489B84E3 HOLY TRINITY wlth SAINT PAUL, ONSLOW SQUARE and SAINT AUGUSTINE, SOUTH KENSINGTON NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2023 2. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES IRestatedl The following table analyses 2022's income and Èxpenditure between unrestricted and rÈstricted funds. Vnreslrirted funds Restricted funds Endowment funds Total funds INCOME Oonatlons and lega¢les 8,372,926 1,108,100 9,481.026 Income from charltable actlvltles 94,832 94.832 Property and other investment income 265,128 6,056 271,184 Other Income TOTAL INCOME 8,732,886 1,114,156 9,847.042 EXPENOITURE Charltable artlvltles 7,977,231 1,030,442 9,007.673 Grants 659,795 231.390 891,185 Fundraising costs 278,875 278.875 Investment management costs 34,612 34,612 TOTAL EXPENDITURE 8,950,513 1,261,832 10,212,345 NET INCOME BEFORE INVESTMENT GAINS 1217.6271 1147.6761 1365.3031 Galn on Investment 117,0841 117,0841 NET IEXPENDITUREI I INCOME AND MOVEMENTS IN FUNDS 1217.6271 1147.6761 117.0841 1382.3871 NET MOVEMENTS IN FUNDS 1217,6271 1147,6761 117,1)841 1382,3871 FUNDS BROUGHT FORWARD AT I JANUARY 2022 3,985,599 404,653 108,336 4,498,588 FUNDS CARRIED FORWARD AT 31 DECEMBER 2022 3.767.972 256.977 91.252 4.116.201 24 DoGuSvJn Envelope ID." 14460DDAA5DB404C-8F9C-BC44489B84E3 HOLY TRINITY with SAINT PAUL, ONSLOW SQUARE and SAINT AUGUSTINE, SOUTH KENSINGTON NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2023 3. INCOME Unrestricted funds Restricted fund5 Endowment funds Totsl 2023 Tot81 2022 al Donations and legacies fjlft-&lded One-off Regular giving Reversed donation Income tax recovered•* 1,918,237 2,518,590 12,500 I,1￿,209 5,558,536 241,146 32,501 112,5001 68,412 329,559 2,159,383 2,551,091 2.068,051 2,494,871 iioo,0001 1,140,734 5,603,656 1,177,621 5,888,095 Plot91ft-olded Offering5 Donations and legacies Regular giving Other grants Iln¢l regrant) 105,155 1,489,202 1,394,362 10,856 12.751 89,932 47,496 490 594 116,011 1.501.953 1,484,294 47,496 9 037 849 79,983 2,108,351 1,418,034 271,002 9 481026 8 547 255 bl Income from charitsble artivities HTB events and courses Occasional and other Services Bookshop and café 113.816 36,222 19,165 169 203 113.816 36,222 19,165 169 203 55,862 33,943 5,027 cl Investment income Property Bank interest & investment 232.657 40,761 273 418 232,657 45,843 278 500 256,265 14,919 271 184 5,082 Specified donation fund carried from 2022 being redirected to general fund as requested by the donor. **lncluded in the income tax recovered amount is retrospective 8ift aid to the value of £15,928. 4. EXPENOITURE Expenditure analysed by staff costs, other direct costs. depreciation and including allocated support Costs. Prior year numbers have been recla55ified and relerto note 5 lor further detsil. Depreciatlon and amortlsatlon Notes Salarie5 other cost5 Total 2023 Total 2022 Charitable activities Ordinary ministry of the church DÈvÈlopment of sites Bookshop and café 4,208,542 31,736 2,610 4,242,888 3,773,010 374,488 28,052 4.175,550 366,930 8,348,482 406.224 30,662 8,785.368 8,544,412 361,673 16,588 8,922,673 366,930 Grants and mission giving 19,254 783,668 3,050 805,972 976,185 Fundraising costs 132,561 86,208 10,165 228,934 278,875 Property management Costs io 36,109 114 508 36,731 34,612 Total expendlture 4,430.812 5,045,540 380,653 9 857 005 10,212,345 * Includes allocated support costs. 25 DoGuSvJn Envelope ID." 14460DDAA5DB404C-8F9C-BC44489B84E3 HOLY TRINITY with SAINT PAUL. ONSLOW SQUARE and SAINT AUGUSTINE. SOUTH KENSINGTON NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2023 5. ORDINARY MINISTRY OF THE CHIJRCH The followingtable analy5e5 expenditure on the ordinary ministry of the church lincluding support C05tsl between Fund5,' and notes the allocation of support Costs to each expenditure category. All support costs are charged to Jnrestrirted funds. Unrestrlcted funds Restricted fvnds Total 2023 Total 2022 Total ClJSt5 Supporr ¢o$ts Contributlon to the Common Fund of the London Diocese lsee note below) Other clergy Stipends and pension contributions Cler8Y Other cost5 Cost of services Pastoral, prayer and Connect groups Worship HTb Alpha Focus costs Church planting Youth, students and children's work Church courses and events 255,485 255,485 255,485 248,000 457,520 158.577 616,097 616,097 492,881 783,877 208,207 148,863 19.752 932,740 227,959 63,845 36,143 996,585 264,102 1,086,456 265,100 105,457 30.902 136,359 136.359 131,416 235,532 176,773 256,396 5,534 65,820 45,876 9.LK13 301,352 222,649 265,399 5,534 3C*l.352 223,407 266.398 12,585 359,918 162,518 399,572 15,560 758 999 7,051 450,260 134,930 585,190 58,910 644,100 617,148 353,332 162,608 515,940 23,325 539,265 470,305 2.059,546 336.795 2.396,341 5,188 2AOI,529 2,405.970 Creative Services and Production 659,587 205.(N)7 864,594 864,594 969,635 316,993 6,a24,499 156.837 1,474,970 473,830 7,799,469 352,794 549,013 826,624 8,548.482 919,933 8,544,412 The Common Fund of the London Diocese rneets the st1pe￿d and other employment Costs of the Vi¢3r of HTB and provide5 hi5 housing. The amount by which HTB'S contribution exceeds these costs and ather apportioned diocesan costs goes towards the mission of the Diocese in part5 of London which are not able to meet their shareof the c05t5. 6. DEVELOPMENTOF srrES Unrestricted funds Restrlcted fund5 Total 2023 Total 2022 HolyTrinity. BroTnpton Road sfjude. Courifield Gardens St Paul, On51owSquare Other property development costs st Augustine, Queen'5 Gate St Francis Dalgarno Way 261,320 4.851 20,906 282,226 4.851 217,713 12.376 52,160 53.144 6,464 19.816 361,673 115,636 115,636 3,511 24,417 3,511 406.2Z4 81,807 7. BQQKSHQP AND CAFÉ The bookshop and cafè tosts shown in note 4 don't include any support tost allocation12022-. 01. 26 DoGuSvJn Envelope ID." 14460DDAA5DB404C-8F9C-BC44489B84E3 HOLY TRINITY wlth SAINT PAUL, ONSLOW SQUARE and SAINT AUGUSTINE, SOUTH KENSINGTON NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2023 8. GRANTS AND MISSION GIVING Vnrestrlcted Restrlcted funds nds Total 2023 Total 2022 Gifts and reBrants to Connerted Entities Alpha International Churth Revrtalisation Trust St Luke's Redcliffe Gardens St Mellitus College 250,000 250,000 111,775 41,940 653,715 15,220 265,220 250,000 111,775 41,940 668,935 421,356 307,500 135,000 15,220 863,856 Glfts to other UK beneflclarles Cr0551ight DEC Turkey-Syri3 Earthquake London Dio¢e5an Fund Focus Bursaries 29,000 28,988 27,655 16,008 14,000 2,972 4,403 L,000 2,000 29,000 28,988 27,655 16.008 14,000 6,400 4,403 2.497 2,000 1,497 39,084 14,463 The Churih of God of Prophecy Other gifts 3,428 5,769 4,575 3,799 World Vision Moody Publi5her5 Kids Matter New Wine Trust 1,497 1,497 1,000 30,000 2,000 1,711 1,734 1,250 1,205 1,000 107,590 GIB55 Door Homele55 Ch3rity ishop of Kensington's Fund London Diocesan Fund Kensington Bishop of London Discretionary Fund Light ILindz Westl 126,026 6,422 132,448 Gift5 for overseas mission Other gift5 297 297 Support cost5 allO￿ted 4,589 4,589 4,442 784,330 21,642 805,972 976,185 Thi5 relates to grants and mi55ion giving to 9 UK individual5. 27 DoGuSvJn Envelope ID." 14460DDAA5DB404C-8F9C-BC44489B84E3 HOLY TRINITY with SAINT PAUL, ONSLOW SQUARE and SAINT AUGUSTINE, SOUTH KENSINGTON NOTES TOTHE FINANCIAL STATEMENTS For the year ended 31 December 2023 COSTS OF RAISING FUNDS These are the costs of raising fundsfrom the HTB congregation 2nd other sources. The majority of these costs relate to the administration of donations ratherthan cost5 incurred in approaching donors to give to the charity. gupportC05ts of £48,09412022.. 10. PROPERTY MANAGEMENT COSTS C05tS totallin8 £36,73112022.. £34,612) were incurred in relation to income from car park rentals. Thi5 include5 the administration and 50tne maintenance and running costs. £30612022.. £2961 of 5UPPOrt costs are included in thi5 11. SUPPORT COSTS The following support costs lall out of unrestricted fundsl have been apporrioned ro fundraising and charitable activities in proportion to the numbers of staff in each department. 2023 2022 514,720 248,014 391.087 374.138 544,913 272,593 440,5(M) 391,153 Finance Human Resources 1.527.959 1,649,159 Ila) Supportcosts apportlot)ment Ordinary Minstry of Church 2023 2022 1,474,970 48,094 4,589 306 1,586,348 58,073 4,442 296 Grants and Mitslon GlvlnE Property2nd Investment Management 1,527,959 1,649,159 12. AUDIT COSTS 2023 Zl,350 2022 21,250 Provislon for rhe Current year Adjustment re previous year Over accrual from previous year Audiror's remuneration other services 11,6671 19,869 21,250 28 DoGuSvJn Envelope ID." 14460DDAA5DB404C-8F9C-BC44489B84E3 HOLY TRINITY with SAINT PAUL, ONSLOW SQUARE and SAINT AUGUSTINE, SOUTH KENSINGTON NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2023 13. REMUNERATION 2023 2022 Wages and $81aries Social security cost5 Contributions to pension schemes 3,823,324 388,696 218,792 3,987,156 395,576 213,170 4,430,812 4,595,902 As disclosed in note 25 (Related Partiesl, 3 close working relationship exists between HTB, Alpha International I'AI'I, St Paul's Theological Centre I'SPTC'I and the Church Revitali5ation Trust I'CRfi. The Central Service5 staff who support all of these entities, operational functions are employed by HTB, and their costs (together with the costs of running their departmentsl are Bllocated acro55 the entities Using the tn95t appropriate ba515 for each 5UPPOrt Service. The staff costs and information in this note includes HTB'S proportionate share of these Central Services staff, as well as the relevant share of ministry staff who split their time across the charities due to the nature of their roles. The costs of clergy at HTB are not included in the Remuneration disclosure above, as clergy are employed by the Diocese of London 3nd not HT8. The average monthly number of full time equivalent employee5, including allocated Central Services FTE, was 10412022.. 1181. Higher-paid employee5 The number of HTB employees whose total benefits lexcluding pension contributions and employer national insurancel were greatÈr than £60.000 was nine 12022.. eight). EIBht 12022.. fivÈl of these employees work in the Central Services teams supporting HTB, AI, SPTC and CRT. These employees are on the HTB payroll and their costs are apportioned accordingly with HTB bÈaring Èn appropriatÈ proportion. The gross remunÈration lextluding pension contrlbutions and employer national insurance) of these employees fell into the following brackets.. 2023 2022 £60,001 to £70,(K)O £70,001 to £80,th)0 £80,001 to £90,(K)O £9D,001 to £lOO,000 £ioo,ooi to £llO,000 Trustee remuneration Details of trustee remuneration can be found In note 25 IRelated Parties). Key management personnel The key rnanagement personnel of HT8 are the Wicar, the Associate Vicar, and Director of ComrnunicatlOn5, The total employee benefits (including pension and Employer NICI of the key management personnel of the charity were £102,228 12022.. £123,199) for 2023. The key m3n3gement personnel of the Centr31 Services function which serves HTB, AI, SPTC, 3nd CRT comprises the Group Chief Operating Officer, Group Director of People, and Group Director of Finance. The total employee benefits (including pension and Employer NICI of these key management personnel were £319,800 12022.. £254,4821,' but HTB only bore a portion of thÈs@ costs- £123,69512022.. £101,379). Redundancy payments These totalled £26,178 for the year12022.. £7,136), and include statutory payments as well as ex-gratia amounts where these were considered appropriate. 29 DoGuSvJn Envelope ID." 14460DDAA5DB404C-8F9C-BC44489B84E3 HOLY TRINITY with SAINT PAUL, ONSLOW SQUARE and SAINT AUGUSTINE, SOUTH KENSINGTON NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2023 14. INTANGIBLE FIXED ASSETS Computer software 176,496 39,644 COST Balance as at 1st January 2023 Additions Disposals 8alance as at 31st December 2023 216,140 AMORTISATION Opening balance 1st January 2023 Charge for 2023 Disposals C105ing b31ance 315t Decernber 2023 111,(K)5 41,395 152,400 NET600KVALUE At 31st December 2022 65,491 At 31st December 2023 63,740 15. TANGIBLE FIXED ASSETS Cornputer oiher Furniture equipment equipment and rrttings Total COST Opening balance lstJanuary 2023 Additions Disposals Closing balance 31st Decernber 2023 1,796,563 1,796,137 92,170 44,705 198,7041 114,0141 170,6801 1,790,029 1,826,828 490,688 561,368 4,154,068 136,875 1183,3981 4,107,545 DEPRECIAnoN OpÈning balance Istjanuary 2023 Charge for 2023 Loss on disposal Di5P05als Closing b31ance 31st December 2023 1,495,899 184,515 23,766 198,7041 1,605,476 1,583,535 133,589 7,629 114,0141 170,6801 1,710,739 478.347 527.873 21,154 3,607,307 339,258 31.395 1183,3981 3,794.562 NETBOOKVALUE At 315t Decernber 2022 300,664 212,602 33,495 546,761 At 31st December 2013 184,553 116,089 12,341 312,983 The net book value includes.. £191,50012022.. £191,500) of computer equipment held under finance leases. £66,16312022.. £66,163) of other equipment held under finance leases. 2023 2022 16. INVESTMENTS Valuation at start of year Increa5e/lDe¢reasel In value of investments Investments at end of ye8r 91,252 4,611 95,873 108,336 117.0841 91,252 All investments are deposited at Charities Aid Foundation, and are held at fair value. This investment was an endowment fund donation In 2015, and the conditions of the gift are for it to be invested and the income to be used for the St Augustine, Queen's Gate choir Isee note 23 for further details). 30 DoGuSvJn Envelope ID." 14460DDAA5DB404C-8F9C-BC44489B84E3 HOLY TRINITY wlth SAINT PAU¥ ONSLOW SQUARE and SAINT AUGUSTINE, SOUTH KENSINGTON NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2023 2023 2022 17. DEBTORS DebtDf5 lorgoDd5 and services Prepayment5 and acirued iniomÈ 35,929 597,1( 310,5 80,207 9,931 579,ass 395,016 I￿,274 5.361 Church Renewal Ttyst See note 2S See note 25 See ntste 2S See note 25 11.616 14,087 17,559 IM67,010 25.520 13.606 1.129,073 Payrdl loan5tostsff The Church Renewal Trust intercompanydebtorin 2023 15 a longterm debtorexpected to be settled ifter more thanone year. 18. fASH ATBANK AND IN HAND 2.984.478 208,278 3.123.084 262,765 3,192,756 3.385.849 19. UABIUTIES FALLING DUE w￿lm ONEYEAR Creditors forgoods and sérvicé5 451,870 256,gIL IW,B47 61,OSL 8,995 958 416.355 270,696 158.246 101,445 9,409 5t Luk2'5 R2dcliffe Garden5 See note25 See note25 Church Revitsli￿tl0TrTrU5t 23,OTI 979 228 92 632 Future minlmum financele3Se p3yment5 lincluding interest) due in le55t￿rn a ye3r are E63.49612022.. E117.037I. due in one tofiveye3 are £BO.70911022. £144,105). and n03mounts aredue in moreth3nfiveyearsl1O22..EOI. OEFERREDINCOME DeferrÈd Incorn@ comprisÈs donations and bookingfees received forfuture financial ￿rIods. 8alènc@ at l January Amount released to Income Amountdeferred in yeir Balance èt 31 De￿n)ber 9,060 19.0601 29,415 29A15 254.848 1254,8481 9.060 9,060 Relea&@wthinonÉ yebr 29,415 9.060 20. UABIUTIES FALLING DUE IN MORETHAN ONEYEAR 79,058 149.179 ZI. MALY515 OF NET A55EtS By FUND Un￿Str￿Cted Restrlcted Endovmient fund5 fuThd5 fund5 Totsi 2D23 2023 Inv￿tmentS 9S.873 95A73 376,725 1,089,707 3,192,756 1926.6321 179,0581 3,749,a69 91,2S2 612,251 1.155,356 3.385.849 376,723 1.089.708 1.984.478 208,278 3.451.641 201.856 95.873 4.116,201 COMPARATIVE5 FOR ANALY5150F NEtASSEf5 BY FUND Unrwrkred Restyicted fuNds funds Endowment funds Total 2022 Investments 91.252 91,252 612,251 1.155,356 3385.849 1979,2281 1149,2791 4,115,201 612,251 1.155.356 3,123.Ot4 Stock and dobtDrs sh èt bèTrk and hand 262.765 15.7881 3.767,972 256.971 91.252 DoGuSvJn Envelope ID." 14460DDAA5DB404C-8F9C-BC44489B84E3 HOLY TRINITY wlth SAINT PAU¥ ONSLOW SQUARE and SAINT AUGUSTINE, SOUTH KENSINGTON NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2023 Openlng balance Transfertrom Unre5trictBd to Restricted 2023 Incorn Expenditur balance 2023 2023 2023 2023 22. MOVEMeNTON RESTRICTED FUNDS2023 th￿￿h PlanrTng- fundingttwards ￿￿8'sVIsIonIor planting churches 7,051 Sc*lal Trahsf4rmatlon-gifts lor CarinB for Prison Leavets ènd homeless shelter 72.175 283.412 2.793 F￿u5 999 19991 Minlstry-gift5 fDr HTBAlphè, LEèder5hip College London Ind otherHTB 72.317 48.386 1102.4051 18,298 Im,989 100,662 IW).765 HTB Dal8amo Way- Income and Expetsdltu￿ related to the St Francls Dal8arno 7,112 37,631 44.275 other5peCif￿dBI1ts 4,184 256.977 17.515 495.676 121,7991 1595.0721 44.275 201.856 Openlng lante Transfertrorn Unrestrlcted to Re5triited Income Expehdtture balante 2022 2022 2022 2022 2022 MOVEMENTON RESTRICTEO FUNDS2022 15.560 115.5601 5oci31 Transformation 4iftsforC3ringfor Pri50n Le3vers and homele5sshelter 101.594 649,7B8 72.175 2S,903 115,205 MlniStry- 8lftsf¢r HTBAlpha. Leadershipcollege London and other HTB 5B.145 239.037 1224.8651 72.317 I￿.889 I￿.989 HTB D314arnoWay. Inc[K￿e and Em￿ndit￿re related toth@ 5t Franc15 D31g3rno 10.403 70,114 7.212 8,719 404,653 1,114.156 25,076 4,284 256,977 enin8 balan ZQ23 Gainon IntoMÈ C1051nB Expendfture Investment 2023 20Z3 2023 2023 23. MOVEMENTON ENDOWMEPUFUND 91.252 4.621 95.873 Qpening balante C1051nB balanc 2022 Inc￿￿@ Expenditure investment 2022 2022 2022 2022 MOVEMEPUON ENDOWMENTFUND 108.336 91.252 24. COMMITMENT5 At thÈ end of theye3r HTB h3d f0llowingccK￿mrtrne￿tS Im31nly leaseson Cler￿aCCoMModatI0￿l.. 2023 2022 Up to one year etween one and five yÈar5 452.910 37,430 475.4B9 261,690 490,340 737.179 DoGuSvJn Envelope ID." 14460DDAA5DB404C-8F9C-BC44489B84E3 HOLYTRINITY with SAINT PAUL ONSLOW SQUARE and SAINT AUGUSTINE. SOUTH KENSINGTON NOTES TO THE FINANCIAL STATEMENTS Forthe year ended 31 Derember 2023 25. RELATEDPARTIES Thpfollowinetru5tPP50r keymana8ernert ppr5DnnpI IKMPI were directot50rrnember5 of relaled entitlP50rwere connertpdtD peoplporDreani5atlOn5 In receipt of paymènts from HT TRusfEEOR KMP RELATEDTRU5TEESHIPS RELATED PARTYTRANSACTk)NS UsrnanAlashe None AndrewbrydDn SamCDate5 Iwifel is employed byHTB. Herernploymentwè5 ArthleCoateS' Church ReTrpw?ITru5tla15oa mprnbErl-. Church Révitsli￿tlO￿rr￿&t[ats0￿ memberl withthe Church Representstion Rules. None 5eptember2023. id El,497 b HTB. Stqven Kan Nort David C ￿y.ShUttleWorth￿as3 trustee of HTB until March 2023. Kitty Kay-5huiilpworth Imryfel i5aTremployeeolAlph Da￿d K￿shuttl*￿0rth NoTbp Gu5Kennqdy Church ReThewalTru&tlMemberonlyl,. NonÈ Genevieve w3s a Churthwarden of HTB untsl May 2023. Gene￿￿¥emenSah Jacobwas omployedb¥HTBon a short-termtontratt In thè None Church ReThewalTru5t., Eccle51a5ti￿l act5a5 1Th5urerstothe HTB Group. FrrB ￿ld Anguswinthpi £6,784.65forproviding Insuri￿et0reVenl￿arnd travel. CathyBut£he Je$5ir3 Butcherldau8hterlM￿5 paidfortern￿lèryWQrkforHTB i A￿￿$t2023 Mark-ElsdDnDÈw' None Alsoem￿0¥?d byt*￿ ch￿￿h Revitali5atioTrTru5t KÈY M3nagemÈnt Poysonnol ofcontral HT8 TrUsteeReMuh¢rat￿Th NoDeoftheTrustee5 rprewed anyrernvneTrtiun Irorn HTB relatedtotheir rule5aStru5tep5. received bythe ttU5teeora related partyforwork Cthnertedpetsuns During 2023 312022.. 51 HTB 5tsff wereconnected to member50f Pccorkey managementpersonThel. These are noted In thetable51bove. In 2023thestsff listed ab¢vewh* were relèt¢d to people ¢Athè PCCte¢eiv¢d emolurn¢ntstotJllint£286.88Q12022-£210.3461 TfuSteeSExpenses Durin8the ye3r2023 expen5eslor£l,07012022.. £1,279) incurred by Exrficiomembersof the Pccwere reirnbur5ed. Trusteedonalion5 During 2023 HTB reCeI￿d £301,70812022. E458.0801 in donations Irom Its PCC mémbers.Thé donorsdld fflotattachany conditionsto their￿ftS￿h￿h réquired the charityto 5ignificanttyalterthen3bJre of its exi5tlTrE 3CtNi1i￿. DoGuSvJn Envelope ID." 14460DDAA5DB404C-8F9C-BC44489B84E3 HOLYTRINITY with SAINT PAUL, ONSLOW SQUARE and SAINT AUGUSTINE, SOUTH KENSINGTON NOTES TOTHE FINANCIAL STATEMENTS For the year ended 31 December 2023 25. RELATED PARTIES Icontlnuedl Entfty HTB ￿ymentS Amountsdue toorlfrornl HrB 2023 2022 202> 2022 Alpha International I'AI'I 265,220 421.356 5.361 HTB makp51n annu31 grant to Al. Al beir5 a Share of Central 5ervi(e5costs charged b¥ HTB15ee note 131. St Paul'sTheolo8l¢al Centre 'SPTC' 14087 25,520 SPTCbearsa shareof centr)Isetyi￿ ¢OSts cTr*r8ed by HTB (see note 131. In 2017 a giftof £250.[￿ wa&given to cDntributÈto the costs of the work on Church RenewaITr￿&t 262.0 80,207 100,274 the amountof cash héld by The Church Renéwal Tru5twhich in a The Churth Re￿￿11$atIO￿T1U$t 307.5 11,616 CET bear5 the c05t of off-cornrnon Fund clprEy who form part ofCRf5 £801,249). St Luke'5commenced 35a new partner&hipwith HTB during1021. St Luke, St Luke'$Redcllffe Gardens vI￿r of HTB also vicarof St Lukè's and Dave Matthows. an HTE curato. as 111,775 135,0 8.995 15,856