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St Martin-in-the-Fields Annual Report and Accounts 2023

Trafalgar Square, London WC2N 4JH

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St Martin-in-the-Fields Annual Report 2023

St Martin-in-the-Fields Trafalgar Square, London WC2N 4JH

Vicar

Revd Dr Sam Wells

Churchwardens

Mel Adams Jeff Claxton

Chief Executive Chris Denton

Head of Finance Jonathan Briggs

Auditors Haysmacintyre LLP 10 Queen Street Place London EC4M 1AG

Principal Banker National Westminster Bank PLC 38 Strand London WC2N 5JB

Legal Adviser Charles Russell Speechlys LLP 5 Fleet Place London EC4M 7RD

St Martin-in-the-Fields Annual Report 2023

Foreword	3
Report on Objectives	4
Future Prospects	13
Financial Review	13
Reserves Policy	15
Pay Policy for Senior Staff	15
Risk Management	16
Public Benefit	17
Structure, Governance and Management	17
Safeguarding	20
Faculty Approvals	20
Approval of Annual Report	20
Consolidated Financial Statements	21
Appendix A	49
The Wider Community of St Martin's
Appendix B	54
Groups and Activities at St Martin's

St Martin-in-the-Fields Annual Report 2023

Foreword

St Martin’s PCC has a dual vocation. On the one hand, it’s called to foster, safeguard and encourage its people to be a decent church: to act justly, love mercy, walk humbly; to get the little things right: to be kind, be truthful, be gentle, be hopeful; pray, love, remember. But as Isaiah said to Judah in exile, so the Holy Spirit has for over a hundred years spoken to St Martin’s: it is too small a thing that I have called you to be a regular church. Look at your location, look at your building, look at your heritage of broadcasting, social outreach, cultural inspiration, social enterprise. Look at the unbelievable things the Holy Spirit has done here in recent years, regardless of and even through covid. God is saying, I have given you to be a light to the nations, and to be my glory in seeing my word of hope made flesh and living my future now.

On a good day, we’re a more than decent church. Our Sunday morning and Wednesday evening congregations grew in 2023, a fact significantly related to the reach and impact of our online ministry. Meanwhile on a good day, it really has felt like we were a light to the nations: our music has reached millions of listeners, our enquirers’ course has spread far and wide, the Nazareth Community and Companions now number 250 people, our broadcasting continues to touch large numbers. We have our share of difficult moments and complex relationships, so no one ever uses a term like perfect; but no one seems to doubt we’re going in the right direction. This is a church that is deeply loved. Again and again we hear the same thing: ‘I’m so blessed to have St Martin’s… I couldn’t have got through this time without it.’

Nonetheless the financial story the accounts in this report show is still a precarious one. We long to return to a model by which SMITFL can cover the great majority of PCC costs and match its outstanding development in programming and culture with the kind of profits everyone’s working so hard towards. We’re excited by the dynamism of the Trust and anticipate the plans for its Campaign and within that the Capital Project making a real difference to our community’s flourishing over the next three years. But we’re not yet out of the woods, and there remain moments when the frustration of being held back by the damage inflicted by covid and subsequent crises goes deep.

Yet this continues to be a community where the Holy Spirit does unbelievable things every day; where a person in dire trouble turns out to be a blessing and source of wisdom; where someone who thought they were coming to enrich the music turns out to have other gifts that bring life to us all; where those who intended to serve end up being served, where the teacher becomes the pupil, and the long-serving volunteer becomes childlike with wonder. So many people who come to St Martin’s or join us online, or visit us when coming to London from another part of the country or another country of the world believe this is their home – they look to it as what church should be. How many Christian institutions are there in the country that truly believe they’re looking toward an exciting future rather than clinging on to a precious past? We’re blessed to be one such. I’m so grateful for those whose hearts and lives are given to making us so.

Revd Dr Sam Wells Vicar

St Martin’s seems to be increasingly diverse and rich in its life and it continues to be a huge privilege as well as a responsibility to serve as Churchwardens. Church life feels firmly to have come to the right side of the covid pandemic and the online growth seen during that time has consolidated. We are extremely grateful to be a part of a team of very capable colleagues on the PCC and in the broader parts of St Martin’s.

St Martin-in-the-Fields Annual Report 2023

It’s impossible to name all who continue to enrich our common life. Our worship services continue to flourish onsite and online, enriched by many who contribute (among others) music, beautiful flowers, well-delivered readings and deeply thoughtful intercessions as well as the ministry of care provided by our stewards and vergers. We are thankful to them all for their commitment and devotion as well as to all who build up other parts of our common life.

It would be foolish to pretend that the covid pandemic does not continue to impact us financially. Congregational giving is increasing but can only provide for a part of our needs. We are pleased to see that our business is continuing to grow and are very grateful for the support of the St Martin-in-the-Fields Trust. We are very grateful to all those who give, often sacrificially, to keep our doors open and continue to encourage all to consider their regular giving.

Our clergy team continues to bring its wisdom, creativity and imagination as well as sheer hard work. It is a joy to be working alongside them as wardens, in the knowledge that their impact is far wider than the local area and inspires many around the globe.

We rejoice that God is constant and pray that we will honour that constancy as we seek to work and worship together to build God’s church.

Mel Adams Jeff Claxton Churchwardens

Report on Objectives

Cross-Site Vision

At the heart. On the edge.

Cross-Site Mission

St Martin-in-the-Fields is a community of hope, reimagining church and society through commerce, culture, compassion and congregational life.

Congregation Mission

Being with God on the edge.

Key Objectives

A beautiful, sustainable, accessible, open, hospitable and well-maintained building
Lively and profound worship
Vibrant and faithful congregational life and mission
Engaging, humble and prophetic public ministry
Encouragement of and participation in our compassionate, cultural and commercial activities

Supporting Objectives

Generation of income to achieve all of the above
Administrative support for ministry and income-generation

St Martin-in-the-Fields Annual Report 2023

1. A beautiful, sustainable, accessible, open, hospitable, well-maintained building

We’re in a tricky place currently, as we’re embarking on a Campaign that will include a Capital project, one goal of which is to address the wear and tear incurred since the 2008 Renewal, accelerated by the inability to cover our considerable maintenance needs during the pandemic. So it seems natural to postpone maintenance projects until they can be swept up in the Capital Project. But some things can’t wait. Such is the paradox of having to delay the Capital Project till after covid. Hence a number of important repair and maintenance works have been done in 2023 to ensure our buildings and site remain operational, well-loved and welcoming to everyone who uses them. Summary highlights include:

General repairs and maintenance and operational support. The estates and premises team, including our maintenance, cleaning and security contractors have continued to support the daily operational needs of all entities of St Martin’s. Alongside the operational support it has continued to deliver reactive and planned preventative maintenance, IT and office support and has increased our cleaning schedules and redecoration and repairs programme while maintaining a safe environment for our staff and visitors. Preventative inspections of the various systems to highlight and prioritise the most essential works on the long-term maintenance list have been addressed so that we can explore funding possibilities for the most essential projects. St Martin-in-the-Fields Limited (SMITFL) has continued to manage all the necessary site-wide Health and Safety (H&S) and statutory compliance inspections, reports and actions on behalf of all entities on site.
The 5-year fixed-wire electrical testing continued throughout 2023 with remedial repairs being actioned in co-ordination with the inspections. The inspections will continue in 2024.
Several significant reactive repairs have been made to the fabric and key M&E plant items ahead of further long-term capital investment.
LED light conversion. The rolling programme to convert or replace all lights across the St Martin’s site, including all the public spaces in the basement, music spaces and Crypt, continued with further LED conversions and replacements to the back of house spaces and residential areas, specific client areas within The Connection at St Martin’s (CSTM) domain and existing external lighting completed in 2023. Further conversion projects will continue into 2024, including further areas of the buildings occupied by CSTM to support our sustainability aims.
The essential projects to upgrade the Building Management System and Church and Crypt fire alarm were completed in 2023 with funding made available through the Vicar’s General Fund. They upgraded the existing systems and replaced obsolete hardware.
The long-overdue insurance works, to replace the pavilion glass and repair the damage following the Euros in 2021, faced significant delays due to supplier issues in Europe and contractual disputes. The malicious damage claim following the screening of the Euros Football Final in Trafalgar Square is now nearing completion after works in the summer of 2023 to repair and replace damaged items to the Church railings and gates and to overhaul and repair a large internal window on the south west second floor area of the Church.
Due to the need to resolve contractor and supplier issues that have impacted the Pavilion Glass Replacement, which is being externally managed by a team appointed by Ecclesiastical Insurance, a new adviser and contractor were appointed and following approval of glazing samples, works have now been instructed and are scheduled to be completed in September 2024.
A £40k project funded by the St Martin-in-the-Fields Trust to upgrade the Crypt WCs was completed in the summer of 2023. The project included new cubicles, panelling,

St Martin-in-the-Fields Annual Report 2023

and sanitary items, but most importantly replacing all the pipe work that service the areas. Since the project in 2008 our facilities have continually been heavily used and the business and church activities rely on the facilities to be in good working order. A lot of our Premises reactive maintenance costs were attributed to the WCs due to age and use. Since the project, repairs and maintenance servicing have decreased significantly.

The Diocese of London Buildings Department funded and completed a number of projects in the Vicarage, which were co-ordinated and supervised by the St Martin’s Estates Team, including the installation of a new boiler, overhaul of the main bathroom, replacement of all external decking and waterproofing and finally a repair and redecoration of the main staircase.

We have unfortunately been experiencing water ingress into the buildings via various routes and the ingress and resulting damage has increased. Our church architect, Kathryn Harris, has been working with us on a project to address the issues. The initial phase of the project is to identify the root causes to establish the scope and best solutions to address the issues. Through Trust funding we have scoped and instructed the first phase of the project by appointing Nick Cox Architects and Civil and Environmental Engineering Consultants, SFK, that will include CCTV inspections of all below slab drainage and to write a report and submit drawings to gain permission for intrusive trials from the Diocesan Advisory Committee. To date, as well as running repairs and daily management of the ingress we have carried out a number of inspections and drawn up outline proposals for review and are now in receipt of quotes for the next stage of inspections. The causes we believe are threefold: the first and most significant cause being related to significant amounts of surface water from Church Path and the Church roof depositing into our internal drainage system under the North wall of the Church, which is now over capacity. Secondly, we are also impacted by the volume of water draining to the external WCC drainage system on Adelaide St from the North Range suite of buildings, which also seems to be over capacity for the volume of water from the street and neighbouring buildings. Finally, we also have water ingress through areas where openings have been formed in the structural slab during the 2008 Building Project for our glazed roof lights, smoke vents and pavement lights.

2. Lively and profound worship

We seek to offer eight kinds of worship.

Three weekly focal livestreamed worship services – Sunday 10am, with an average attendance of 230 in the building and 1.30pm (60) and Wednesday 6.30pm (70)
Additional choral services – Sunday 5pm, Monday 5pm, Wednesday 1pm and 4pm;
Additional spoken weekday communion services Monday and Tuesday 1pm;
Contemplative Prayer in the building and livestreamed from St Martin’s on Mondays 7.00-8.00am, Wednesdays 5.00-6.00pm and Thursdays 7.00-8.00am, and each Saturday morning at 8.00am a contemplative livestreamed prayer walk;
Regular daily livestreamed 8.30am morning prayer;
Daily Compline (Night Prayer) online, led by members of the community;
Occasional offices on request – baptisms, wedding and funerals;
Great Sacred Music on Thursdays at 1pm and Choral Classics on Sundays at 3.15pm.

The 10am Sunday Parish Eucharist continues to flourish, with both the in-the-building congregation as well as a significant online congregation. The Choir of St Martin-in-the-Fields has continued to grow in size and strength and elevates our worship. Volunteer coordination and support for those who serve at this service has been developed through the year with the introduction of the Head of Ministry Operations role in August. We have a minimum of 20 volunteers who help ensure that the service is well run.

St Martin-in-the-Fields Annual Report 2023

Wednesday 6.30pm Bread for the World continues to be a vibrant informal Eucharist with especial attention in Lent when it is combined with the Lent Course. The Cantonese-speaking 1.30pm service has experienced a healthy transition to a largely lay-led model, with communion led by the clergy twice a month.

Encouraged and supported by the Nazareth Community but open to all, more and more people have been joining us both in the building and online for contemplative prayer and the livestreamed contemplative prayer walk each Saturday morning.

Children’s ministry continues gradually to grow at Sunday 10am and 1.30pm and through the monthly youth group. Evensongs led on Sundays by the Choir of St Martin-in-the-Fields and on Wednesdays by our Choral Scholars are enjoyed by both regular and visiting worshippers. Midweek worship also continues to retain attendance, with around 100 joining each Morning Prayer online (with Morning Song on Fridays in term). Great Sacred Music flourishes with its mix of music and reflections, with around 200 onsite and 5000 online. Its partner Sunday afternoon programme, Choral Classics, is always well attended onsite.

2 funerals and 4 weddings were held, 8 child baptisms and 3 adult baptisms took place, as well as 3 joint congregation services including the Patronal Festival. Beautifully arranged flowers adorned these and many other occasions.

3. Vibrant and faithful congregational life and mission

Beyond worship, congregational life and mission takes ten broad forms.

providing a strong programme of formation and discipleship (e.g. Nazareth, Lent Course) in which everyone can take a step further in faith
offering hospitable and affirming ways people can discover or rediscover faith (Being With)
cultivating a healthy pattern of ministry (e.g. lay training for liturgical and other roles)
fostering lively networks for fellowship (e.g. Open Circle, Archers)
encouraging mission initiatives (International Group, Justice, Peace and Integrity of Creation Group, Eco Church Group, Global Neighbours Group) for encounter and response
intentionally building and stewarding an online community (Morning Prayer, BFTW, online 10am coffee, Compline, Saturday walks)
offering world-class choral music grounded in a distinctive culture of engagement in social realities
generating theological discourse, through sermons, lectures, forums, online seminars and publications, that fosters an understanding of abundance and inclusivity and that influences people and institutions far beyond this community
affirming cross-cultural mission and ministry through weekly Cantonese-speaking worship and regular cross-language joint services on significant Sundays, together with a sustained programme of lay leadership, and genuinely cross-cultural formation for children and young people
offering a warm welcome to strangers, visitors, those experiencing hardship, and tourists.

St Martin-in-the-Fields Annual Report 2023

Within these broad aims, specific details include:

Ministry
Safeguarding of children and of adults at risk of harm continues to be a basic institutional priority.
The Nazareth Community remained at 100 members, who continue to meet for Bread for the World and one Saturday each month for meditation and sharing.
o The Companions of Nazareth meet regularly for online reflection, prayer, and listening groups and each year for an online retreat.
Open Circle for 20s-30s has continued with regular social and spiritual meetings and activities.
Archers continued to gather for an informal Eucharist and meal together.
The cricket team, drawing group and other creative activities flourished.
On Wednesdays the Sanctuary in the City afternoon continued to include a sung Eucharist at 1.00pm, a prayerful church tour at 2.30pm, Evensong at 4.00pm, a meditative silent hour from 5.00pm (which from October 11 focused particularly on Israel and Gaza), Bread for the World from 6.30pm and then lectio/study groups until 8.30pm. The Bread for the World congregation continued at around 50-80 people in the building and many more online with 50 joining each week for the study groups held both online and onsite. The Choral Scholars continued to lead the music.
A Parish Away Day was held at St Mellitus College on July 15 for 98 members of the congregation. The day focused on the theme of the Word Made Flesh.
Many joined Angela Sheard to celebrate her ordination as priest and first communion in July.
The Lent Course attracted 200 participants and Theology Group had 40-50 members on each occasion.
Retreats and quiet days have taken place regularly at the Royal Foundation of St Katherine’s.
Mission
Being With courses continued throughout the year.
The International Group continued to provide much valued help and support to the most vulnerable in the community, welcoming up to 80 migrants, refugees, and asylum seekers each weekend. This includes a meal, laundry, showers, emergency needs, including shoes, pants, socks, trousers, coats, sleeping bags and a warm welcome. Guests joined the pilgrimage to Canterbury, 50 came on a daytrip to Worthing and there was a special Christmas dinner with essential gifts for all. We were also able to provide substantial help for those in most need over Christmas. Government policy continues to create especially stressful conditions, yet in spite of this most of our guests say that the International Group is the highlight of their week. There are 10 volunteer hosts each week.
The Global Neighbours Group continued to support 6 overseas charitable initiatives.

4. Engaging, humble and prophetic public ministry

The PCC envisages five kinds of public ministry, always looking for ways St Martin’s unique contribution can be a blessing to others in church or wider society, by

offering a sustained programme of outreach and formation, notably Great Sacred Music, Being With courses, and Autumn Lectures, to attract people into our space, draw them into our life, and build them up in faith.

St Martin-in-the-Fields Annual Report 2023

hosting large public services for pastoral support (those who have died homeless, those affected by suicide), commemoration (Stephen Lawrence, Victoria Cross-George Cross service, memorial services for distinguished public figures), or BBC broadcast (Ascension Day, Sunday Worship), each requiring bespoke orders of service, trained vergers, and volunteer teams.
promoting sector-leading disability and theology awareness and activism.
offering classical choral music as a form of support to, renewal of, and mission energy for the wider church (e.g. Manchester, Dunstable, City) and generously supporting the wider C of E community (choral music contract with central C of E).
supporting emerging singers, instrumentalists, conductors and composers in their professional development.

In pursuit of these objectives, in 2023 initiatives saw

the (online) Companions of Nazareth grow from 126 members to 142 members. Many regularly join the online programme at St Martin’s.
broadcasting include Richard Carter leading regular broadcasts of Daily Service, the annual Ascension Day live broadcast, Sam Wells’ regular appearances on Thought for the Day, and Sally Hitchiner’s reviews of the papers and the week’s news on Times Radio and BBC 1. The BBC Radio 4 Christmas Appeal was still the most notable of all these media engagements. It broke its fundraising record for the 15th year in succession. St Martin’s also led services online for the Church of England including their Christmas Day Service and Richard Carter wrote the Church of England Christmas Study Materials: Follow the Star including podcasts.
HeartEdge experiencing a more complex year, with its Director, Heather Cracknell, being on sickness absence for half the year. Considerable reflection went into assessing its planned partnership with the Church of England’s Strategic Mission and Ministry Board, with a conclusion reached at the end of the year that the partnership would not be in HeartEdge’s best interests, and funding would best be sought elsewhere. HeartEdge started 2023 by addressing critical project challenges related to income generation and user engagement by adopting new approaches to build on learning from the consultancy project. Despite a reduced team size, its work rethinking its strategy has given it a robust and evidence-based foundation, already leading to several successes including securing funding to develop HeartEdge further. Key milestones during 2023 included building a solid evidence base by collating data from 400 individuals gathered from conversations, interviews and surveys with HeartEdge members (from new curates to senior church leaders), cultivating a vibrant Practitioner Community of 300+, and launching its first four Edge Labs to refine its understanding of its members’ needs. By the end of the year, HE also began generating income through course fees, with four cohorts of 12 working through the 6-session Day Crafting course. We also presented content at Synod and ran well-attended workshops exploring HE themes at Greenbelt.
Towards the end of the year, the user-centred evidence gathered enabled us to propose a model for the project, which will prevent the recurrence of past challenges and enable HE to reach far further than it has before. This new model forms the basis of the successful funding bid, and it hopes 2024 will see it implement the new ideas once it has the core team established.
Being With (BW) attracting $200k of funding from the US and beginning to expand its ambitions and reach. 2023 has been a foundational year building on the early dynamism and beginning to develop systems and procedures to ensure a base from which can share far and wide. It launched the second major phase of the website in April 2023. Which meant it now registers people as interested in BW taking limited details giving it the ability to communicate with them. On December 31, 2023 it had 501 people registered and 1041 on the monthly mailing list. In 2023 it trained 176 people around the world to host BW in their contexts. In November it had 450 visitors to the website finding information and creating accounts with over 5000 searches

St Martin-in-the-Fields Annual Report 2023

through Google for BW in various forms. The network is increasing over the world, particularly in the English-speaking countries with early exploration to other languages.

Liturgical music recorded by the Choral Scholars and St Martin’s Voices continuing to bring joy to the wider Church of England and great credit to St Martin’s.
The Autumn Lecture Series reached more people than ever before. All lectures were followed by lively Q&As and receptions in the foyer or in the crypt café. This last year the series of nine lectures on the theme of ‘Here I Stand’ included lectures by Archbishop Justin Welby, Tom Holland, Ken Loach, Rory Stewart, Sam Wells, Lemn Sissay and Amina Mohammed, Deputy Secretary general of the UN. Average audience sizes for those in the building and joining online were over 1000 for each lecture.
The twelfth Disability and Theology Conference, in partnership with Inclusive Church, was the fourth online. It was well attended and very well received.
The Annual Service for Those who Died Homeless was held in November, and was as vibrant as ever, with 450 present. It included Streetwise Opera, Choir with No Name and Gavin Bryars Orchestra.
The eighth annual Time Together service for those affected by suicide took place in September and was as profound and well-attended as ever.
A number of high-profile memorial services were held, notably for Stephen Lawrence (30th anniversary), the banker Sir Win Bischoff, journalists Jeremy Clarke and Anthony Holden, and the BBC1 newsreader George Alagaiah.
The blessing of the St Martin’s crib took place in Trafalgar Square, including a Nativity Drama, featuring the St Martin’s Choir and congregation, attended by more than 2000 and raised money for the Christmas Appeal.
Christmas services had encouraging numbers attending. They were supported by good stewarding teams.
Digital engagement continued to develop through the stmartins.digital site.

5. Encouragement of and participation in our compassionate, cultural and commercial activities

Other parts of St Martin’s (the Trust, the Charity and The Connection) each have their own annual reports, so there is no detailed account offered here. Work towards greater cross-site cooperation continued through the Steering Group of chairs of the five Boards (PCC, SMITFL, Trust, Charity, Connection) and the Executive Group consisting of the chief executives of those five organisations. Highlights included:

The Trust continued to play a crucial role in St Martin’s recovery from the Covid pandemic, raising more than £2.4m in 2023. Its Gala in September was a spectacular statement of St Martin’s current identity and future ambitions.
The Charity brought in a record £5.2m for the BBC Radio 4 Christmas Appeal with St Martin-in-the-Fields at its March 2023 year end. The Frontline Network continued at around 2000 members.
The Connection’s focus was the development of new strategic plan, emphasising the importance of working with people, so they can find a place to call home.

While the cross-site liaison among the five organisations continued to be healthy, one notable development was the significant convergence in shared planning among the ‘three,’ i.e. Trust, SMITFL, and PCC, represented by the establishment of a quarterly Joint Financial Planning Group. Lucy Littlewood made an outstanding start as our new Director of St Martin’s Trust and SMITFL continues to be led with dynamism and resourcefulness by Chris Denton.

St Martin-in-the-Fields Annual Report 2023

6. Generation of income to achieve objectives

St Martin-in-the-Fields Ltd (SMITFL) is the trading arm of the PCC. It also provides administrative services to the PCC and the Trust and maintains the church and its estate, covering general day-to-day repairs and maintenance.

2023 saw a continued return to more normal trading for the business. Footfall levels in London increased and there was a noticeable upswing in tourists from the US over the Summer. Whilst some expected trading bounces failed to materialise (especially linked to the Coronation weekend), overall, we were pleased to see the site and the immediate vicinity noticeably busier.

As ever, Q4 was a key trading period for us, and we focused much energy and planning effort into developing a cross-site product offer designed to maximise revenue generation. Our Christmas concerts series and food and beverage (F&B) offer were aligned to encourage customers to trade up and we achieved record sales of over £500,000 gross for our Christmas concerts. We were delighted that 44 concerts had pretty much sold out before we even hit December 1.

In line with our philosophy to try to develop new ‘products’ to generate additional revenue over and above the established trading portfolio, this year we tried two significant new activities. The first, in early February, was a major sound and light installation which took over the whole site for a period of 5 days. Working with a respected artist, the exhibition (‘Space’) was a stunning success, with nearly 10,000 customers attending over the 5 day period. Analysis showed that many were new to St Martin’s, and we are sure that their experience of our site will encourage them to return. The financial contribution of the project exceeded our expectations and we committed to a second project in 2024.

The second new initiative was aimed at attracting children and families – a traditionally under-represented customer group. We developed an interactive theatre style show and activity, which was presented in December. Although around 700 children participated during the run, the numbers fell significantly short of our expectations. It was nonetheless a worthwhile initiative to have tried.

Elsewhere across our events programming, we have honed the way we run the site in order to maximise revenue generating opportunities. We now run 2 cabaret evenings per week in the Crypt and ensure that programming in the church is designed to allow us to run events simultaneously, thereby maximising ticket and F&B revenue across two busy shows. We also carefully programmed the summer period with a clear focus on an entertainment offer for tourists. Multiple cabaret nights in the Crypt were packed out whilst popular ‘candlelight’ concerts in the church also attracted high numbers for short, early evening concerts. We have found a formula for summer which serves us well. In addition, we once again presented our free outdoor summer music festival which drove audiences in their thousands to sit and listen to free live music from emerging artists, all whilst buying food and drinks from our outdoor kiosk in far greater amounts than usual.

Other notable developments in the year included several sell out silent discos in the Crypt, a club night, a standing gig for 500 with live bands, Sunday lunch big band sessions, Lindy Hop dance nights and more. Our mainstream classical concert series continues to thrive and we attract some of the world’s leading artists and ensembles to St Martin’s. Press interest has soared and there is considerably more attention in our music programming now that there had been before the pandemic. This strategy to reposition our profile via high-quality partnerships is paying dividends, and around 40,000 new concertgoers came to St Martin’s in 2023.

St Martin-in-the-Fields Annual Report 2023

Overall then our programming of the site has once again helped to bring additional customers to St Martin’s, many of them new. This strategy continues to ensure we maximise the spaces we have, the potential to open them to the public for longer each day and increase F&B spend at times when this historically would not have been the case.

Commercial events have been a focus for our investment and attention this year. A decision was taken to invest in two new staff roles to help manage and convert the existing queries we were receiving but also to seek out new business through proactive marketing and B2B activity. The result of this investment has been clear, and we came to within a fraction of hitting an ambitious revenue target for this area. It is clear that there is more headroom in commercial events revenue, and we will seek to overcome some of the logistical site operations challenges, which are the only barrier to us achieving even more revenue from this aspect of the business in 2024 and beyond.

Retail fell short of expectations. We believe that a combination of factors is at play, including a move away from the tradition of sending Christmas and greetings cards, which has historically formed the top selling product ranges for us. The cost of postage and the cost-ofliving crisis played a part. We are taking steps to re-think our retail offer and buying strategy.

Our Café operation continues to thrive and we now have a stable kitchen and front of house team with our reliance on agency staff significantly decreased. Average transaction values continue to rise and at around £14.50 they are nearly double that of pre-covid. We have carefully monitored our prices and cost controls and have increased our margins as a result across both wet and dry sales. We had to deal with high food inflation costs and supply chain issues throughout the year, which we hope will abate in 2024. A focus on developing a new F&B masterplan in early 2024 will set out a path for us to start to reimagine our café space and replace ageing equipment and develop a better customer experience.

Staffing levels have remained stable, and a senior management team (SMT) is now in place and providing solid leadership across each of the business areas. Whilst further recruitment at middle management level will be required as we continue to grow, we have benefitted this year from the expertise and stability of the SMT.

The end of year position of the company shows an ongoing journey towards recovery. We are improving our turnover and operating profit and there is a clear trajectory out of the difficulties caused by the pandemic. We have and are dealing with our debt liabilities and as these start to be cleared off through 2024 and 2025 we will rapidly pull out from our negative balance sheet position. Our confidence in our ability to thrive once again has been boosted significantly as a result of our trading through 2023, and we are making real progress across all aspects of the business.

7. Administrative support for ministry and income-generation

The admin team covered finances for the PCC, SMITFL, and the Trust and offered additional payroll services to the St Martin-in-the-Fields Charity, Ho Ming Wah Community Centre (HMW) and St Stephen, Walbrook (SSW). The appointment of a new Head of Finance at the start of 2023 has enabled a much more unified and strategic approach to the group financial picture with the postholder and PCC Treasurer working closely throughout the year and the creation of a new group financial review meeting held regularly. The Head of People and Culture has continued to ensure that all policies are updated and remain relevant as well as introducing new appraisal procedures. In addition, a new site wide initiative to develop a common induction for new staff was launched with a very successful first day-long meeting in which representatives from each of St Martin’s entities spoke about their work and aims. A review of current IT services and support provision is well underway with the aim of unifying the IT support for all St Martin’s entities under one service contract. As with the common

St Martin-in-the-Fields Annual Report 2023

induction, the IT project has helped to demonstrate how by working together, the five entities can achieve sometimes better results based on shared knowledge and understanding and economies of scale.

Future Prospects

After eight years of political volatility and four years of economic crisis, we’ve all got used to expecting the unexpected. Events way beyond our control are capable of undermining our very best efforts, so we can never take anything for granted. Nonetheless we may be confident about the following things.

SMITFL is making a stirring comeback. While still hamstrung by the financial burdens of covid and adapting to some changes in spending patterns by our visitors, the company improved its net profit by nearly £400,000 and the 2023 peak Christmas trading period felt busier than ever. There is every reason to suppose that with the debt much reduced our enterprise will continue its upward trajectory in 2024 and beyond.
The Trust is not only generating very significant sums but is deepening strategic relationships in ways that promise long-term partnerships to enhance our future. Its contributions to PCC and SMITFL have been vital and profoundly welcome. Its plans for the Campaign and Capital project look set to raise all our boats over the next few years.
Congregational life is more vibrant than for many years – so many of the seeds planted in covid and before are bearing fruit and this feels like an especially fertile time in our common life – in numbers, depth and energy. Online continues to enrich and complement onsite. Our public ministry is also thriving, and St Martin’s continues to be trusted and cherished by people far and wide for its music, ministry and mission.
One of the most encouraging features of 2023 was the much closer strategic planning between Trust, SMITFL and PCC, and this will be a huge asset going forward. While the Charity team moving to Holborn is a significant development, relationships between the five entities are healthy and constructive at executive and board level, and plans for the significant anniversary in 2026 are under way.

Financial Review

Context

The impact of lockdowns in 2020 and 2021 had a significant impact on the finances of the Group (PCC and SMITFL together). However, as in 2022, the Group has been fortunate to continue to receive significant grant income and loan funding from the Vicar’s General Fund and the St Martin-in-the-Fields Trust (the ‘Trust’), including grants obtained for the Group.

In addition, the trading position of the trading subsidiary St Martin-in-the-Fields Limited (‘SMITFL’) has continued to improve with the operating loss just under £400k better than the position in 2022. The business has continued to grow and there has been a marked increase in both revenue and cost, when comparing 2023 with 2022 as detailed in the narrative below.

Below is an analysis of the figures in the 2023 Consolidated Statement of Financial Activities which is explained further in the following paragraphs.

St Martin-in-the-Fields Annual Report 2023

	PCC -	SMITFL - Total
2023 Group Overview	Unrestricted Funds	Unrestricted Funds Unrestricted Funds	Restricted Funds	Endowment Funds Total
	£	£ £	£	£ £
Income	1,276,731	4,846,778 6,123,509	47,790	- 6,171,299
Trust grants and legacies	358,359	267,418 625,777	517,729	- 1,143,506
Expenditure	(1,551,212)	(5,187,199) (6,738,411)	(640,359)	- (7,378,770)
Net gains on investments	-	- -	-	57,175 57,175
Net (expenditure)/income	83,878	(73,003) 10,875	(74,840)	57,175 (6,790)
Transfers between funds	136,101	- 136,101	1,899	(138,000) -
Net Movement in Funds	219,979	(73,003) 146,976	(72,941)	(80,825) (6,790)

Income

Overall income has increased for the group, largely because of the increase in trading activity for SMITFL. Total income for the Group rose by £1.7m (31%) from £5.6m in 2022 to £7.3m in 2023.

Total income for SMITFL rose by £1.2m from £3.9m to £5.1m with turnover increasing by £1.2m and other income remaining at around £0.3m over the year.

PCC income has also increased, rising by £0.5m from £1.7m to £2.2m, mainly in relation to increases in unrestricted funds, primarily arising from grant income from the Trust for core costs and music activities, legacy income and income from charitable activities.

Both the PCC and SMITFL have benefitted from grants from, or funding obtained by, the Trust, and the PCC has recognised significant legacy income in 2023. To assist in understanding the Group’s finances these are shown as a separate line item in the table above ‘Trust grants and legacies’. From the Trust, the PCC received grants and donations totalling £783k (2022: £490k), and SMITFL £267k (of which £40k was for a refurbishment project) (2022: £153k) and the PCC recognised legacy income of £93k in 2023 (2022: £14k).

Expenditure

Consolidated expenditure for the group has increased significantly, due to the increase in trading activity for SMITFL. Costs across the group have increased by £1.3m (20%) from £6.1m in 2022 to £7.4m in 2023, with an increase in the operating costs of trading activities of £0.8m reflecting the increase in trading activity during the year.

Expenditure on charitable activities has increased by £0.4m in relation to activities directly relating to the work of the church. Unrestricted church expenditure has increased by £0.2m mainly due to increases in staff and music costs. Restricted church expenditure has also had an increase in expenditure of £0.2m due to increases in staff, music and maintenance.

Staffing was the most significant cost incurred by the Group, as summarised in note 11, amounting to £2.9m (2022: £2.4m).

Investments in the endowment fund showed a net gain of £0.1m (2022: loss of £0.1m).

Result

Before fund transfers, overall group net expenditure for the year was £7k (2022: net expenditure £0.6m) comprised of an unrestricted fund surplus of £11k (2022: £0.8m deficit), restricted fund deficit of £75k (2022: £0.2 million deficit) and an investment gain of £57k. (2022: £0.1m gain). SMITFL incurred a loss of £73k in 2023 (2022: £0.5m).

St Martin-in-the-Fields Annual Report 2023

Funds Transfers

During the year £138k was transferred from the Rysbrack endowment fund to unrestricted funds, as detailed in note 18.

After fund transfers, the net movement in unrestricted funds was a surplus £0.1m (2022: £0.6m deficit), a deficit in restricted funds of £73k (2022: £0.2m surplus) and a decrease in endowment funds of £0.1m (2022: £0.3m).

Outlook

The 2024 PCC unrestricted budget, approved in November 2023, anticipates income of £1.1m and expenditure of £1.6m. It is assumed that the shortfall of just under £0.5m will be covered primarily by funding from the Trust, and to a lesser extent the receipt of unbudgeted income.

The PCC budget assumes no licence fee payable from SMITFL until 2025 at the earliest. There is no prospect of any gift of profits from SMITFL to the PCC for many years, because of SMITFL’s need to cover its accumulated losses before any such distributions could be made. In light of this, from the start of the pandemic, the PCC has moved to a portfolio approach to funding, including fundraising by the Trust.

Reserves Policy

Total reserves at the end of 2023 stood at £0.7m (2022: £0.7m). This includes negative £0.7m (2022: negative £0.6m) of non-charitable trading reserves held on the balance sheet of SMITFL; the make-up of these reserves is set out in more detail in note 18 to the 2023 financial statements.

The PCC has target free reserves of £0.5m to cover:

Fluctuations in net profit from normal trading in St Martin-in-the-Fields Limited of up to £0.2m.
Up to three months’ PCC expenditure, to enable the PCC’s activities to be scaled down in a ‘disaster scenario’, being presently set at £0.2m.
Fluctuations in PCC’s own income-generating activities and other fluctuations in working capital requirements of up to £0.1m.

In line with the Charity Commission’s guidance, ‘free reserves’ is defined as the unrestricted, undesignated fund which is not represented by the PCC’s tangible assets.

At the end of 2023, the PCC’s (and Group’s) general reserves stood at a deficit of £0.3m (2022: deficit of £0.5m). Free reserves, after the fund transfers noted above, and including SMITFL 2023 operating loss, amounted to £nil (2022: £nil). The PCC is resolved to review its reserves policy and its free reserves target on an annual basis and accepts that it will take time to achieve new targets. The PCC is grateful for the support of the Trust and encouraged by its fundraising initiatives. The PCC also notes that whilst 2023 was challenging, there were significant signs of growth.

Pay Policy for Senior Staff

The pay of senior staff of both the PCC and St Martin-in-the-Fields Limited is reviewed annually by our remuneration committee and are increased in line with annual pay increases for all staff.

St Martin-in-the-Fields Annual Report 2023

Risk Management

Further work has taken place to review and develop the risk register following a complete overhaul of the register in November 2022. We continue to be grateful to Neil Mathur, a nonexecutive director of SMITFL, for pro bono services of his risk management team at EY. The full risk register for the PCC is being developed. The PCC has paid particular attention to a variety of risks – in particular, finance.

The key risks and mitigating factors are considered to be:

Covid impact – recovery of SMITFL from covid and the impact of loan finance taken out during the pandemic. This is being managed by careful use of finances and spend. Careful regrowth of the business and investment is needed so that the pace of growth is in line with, and respects, any ongoing fragility or nervousness. Constant monitoring of revenue and expenditure against conservative forecasts is performed and the wider customer context (e.g. visitor numbers and general tourism outlook) is closely monitored.
External conditions – there is a host of areas of risk, each with their own mitigations, such as the continued war in Ukraine and the conflict in Gaza. In spite of fears that these might impact confidence, the number of visitors has held up; continuing to take professional advice in respect of renegotiation of energy contracts and taking appropriate and agile action in relation to the volatility of energy prices to secure the best deals available; the cost of living challenges have meant that cost of supplies are increasing more than it is felt that we are able to increase charges to our customers; broadening the range of activity to encourage a more diverse audience base aside from the ageing core base (e.g. running late-night music gigs, hosting silent discos in the Crypt, offering a bar/new food offer, closing the Café on evenings when it was seeing insufficient numbers to be profitable; increasing focus on reducing wastage); reviewing all supplier relationships to explore how and where we can replace non-sustainable partnerships into the future and/or make product buying decisions that reflect our ecoaspirations; continuing to develop as robust a repair programme as possible to ensure our buildings are weatherproof.
Finance – Covid impacted on the finances of the group, with SMITFL bearing the weight of costs from covid and currently unable to provide a surplus for the PCC as in previous years. This is being mitigated by working with the Trust and other contacts for key fundraising opportunities, drawing on historic resources, and working on increasing congregational giving and other fundraising efforts. The PCC is also addressing this risk by increasing the level of dialogue and engagement with the SMITFL Board, to ensure that the key risks and challenges are being addressed.

The main mitigation in respect of staffing issues is the continued engagement with our professional head of people and culture with the experience and track record to develop appropriate policies and strategies to tackle all risks associated with our staff.

The terrorism risk is managed through appropriate insurance cover and ongoing liaison with relevant authorities such as GLA, Metropolitan Police, and Westminster Council.

The risks around infrastructure are linked with the speed at which St Martin’s can rebound from covid – the growth in revenue, and the ability of fundraising teams to solicit additional support. Smaller-scale upgrades to IT etc. will be managed through day-to-day budget choices.

St Martin-in-the-Fields Annual Report 2023

Public Benefit

St Martin-in-the-Fields became a registered charity on 1 February 2010 (registered charity number 1133936) with the result that members of the PCC are now registered as trustees. In the preparation of this report, the trustees have been aware of their responsibilities to demonstrate that the activities of the church offer a real and practical public benefit as required under Section 4(1) of the Charities Act 2011. The PCC confirms that, in exercising its powers and duties, it has complied with its duty to have regard to the guidance issued by the Charity Commission on the provision of public benefit by religious charities.

The PCC’s objectives are set out above in the ‘Report on Objectives’. By identifying our key areas of focus in 2015, we now report against these objectives. Trustees have had regard to the commission’s guidance on public benefit when reviewing activities against objectives set and in planning future activities. This annual report shows that the guidance has been met.

Structure, Governance and Management

Organisational Structure

The Parochial Church Council of the Ecclesiastical Parish of St Martin-in-the-Fields (‘the PCC’) is a corporate body established by the Church of England. The PCC operates under the Parochial Church Powers Measure and is also a charity registered in England and Wales (charity no. 1133936). The PCC is responsible for, and is charged with, co-operating with the Vicar in promoting, the whole mission of the church.

The PCC, through the Vicar and Churchwardens as nominees, owns the whole of the issued share capital of St Martin-in-the-Fields Limited (‘SMITFL’), a company registered in England and Wales (company no. 02096693). SMITFL acts as the trading arm of St Martin-in-theFields, as well as managing the site and some aspects of church operations. Its principal trading activities include operating a café, a shop, concert management, venue hire and event catering and the organisation of exhibitions. Ordinarily, the whole of the company’s taxable profits is donated to the PCC.

The PCC

Since the PCC registered as a charity in 2010, its members are also registered as trustees of the charity. Elections for one-third of the members of the PCC are held each year at the Annual Parochial Church Meeting (‘APCM’). PCC members serve for a three-year term before offering themselves for re-election for a second three-year term, should they choose to do so. The appointment of PCC members is governed by, and set out in, the Church Representation Rules. Deanery Synod representatives are ex-officio members of the PCC and elections to the Deanery Synod are held at the APCM every three years (with the next election in 2026). Churchwardens are elected annually at a meeting of the parishioners that precedes the APCM. The APCM is normally required to be held before the end of May in each year.

The PCC’s practice is to review its terms of reference, committee structures and legal issues, at the first meeting of the PCC following the APCM. The PCC met eight times in 2023, with meetings being chaired in turn by the Vicar and one of the Churchwardens, alternately. All new members are required to undergo appropriate induction. This includes sharing a comprehensive information pack, meetings with key people, a session on governance and finance and opportunities to experience working and worshipping at St Martin’s.

St Martin-in-the-Fields Annual Report 2023

PCC membership

Clergy (ex-officio) Revd Dr Sam Wells, Vicar and Chair of the PCC Revd Sally Hitchiner, Associate Vicar for Ministry Revd Richard Carter, Associate Vicar for Mission Revd Catherine Duce, Assistant Vicar for the Nazareth Companions Revd Angela Sheard, Curate

Churchwardens (ex-officio) Mel Adams Jeff Claxton Treasurer Rosalind Scott Deanery Synod representatives (ex-officio) Nike Awoyinka Timothy Beale (to May 2023) Lois Howarth (elected member to May 2023) Daniel Kaszeta Eugene Ling (to May 2023) Neil MacGregor (to May 2023) Jane Templeman (from May 2023) Wai Keung Chan General Synod (ex-officio) Fiona MacMillan Elected members William Cometti (to May 2023) Frances Dennis (from May 2023) Jonathan Edwards (co-opted prior to May 2023) Yen Leung Rachel Morrison (Deanery Synod to May 2023) Ingrid Philion (until September 2023) Wendy Quill Jess Templeman (from May 2023) Lenus Walker (to May 2023 and then from September 2023) Jane Ware (from May 2023) Ivan Yuen Co-opted members Rosalind Scott Anne Chow (from September 2023)

The Board of St Martin-in-the-Fields Limited

The Board of St Martin-in-the-Fields Limited (‘the Board’) ensures that trading is profitable, develops new ventures, and oversees the efficient and safe operation of the site.

Board membership for 2023 was Antonia Adams (to March 2023), Dan Barker, Mark Bromley (Chair), Jeff Claxton, Caroline Cromar, Chris Denton (Chief Executive), Simon Erridge (from September 2023), Catherine Hallett (from September 2023), Neil Mathur, Susan Millin, Mike O’Mahoney, Brad Owen, Cathy Reid Jones, Helen Sprott and Revd Dr Sam Wells.

Committees and other bodies

The Chinese Leadership Team oversees the ministry and mission of the 1.30 pm (Cantonesespeaking) congregation. It is a lay team, working with the English-speaking clergy as it advances our work amongst people of Chinese heritage. It comprises six people, each looking at a key area of the congregation’s work. Each role is elected by the 1.30 pm congregation.

The following bodies remain part of the decision-making structure.

The Standing Committee assists the PCC by planning the business of its meetings. It also ensures that actions from PCC meetings are carried out. It has responsibility for PCC business between meetings. It is made up of the Vicar, the Associate Vicars for Ministry and for Mission, the Churchwardens, the Treasurer, and the assistant Churchwardens. The CEO attends if asked.
The Steering Group (formerly known as the Advisory Group) which is made up of the chairs or equivalent of the five key parts of St Martin’s and is chaired by the Vicar.
A Finance Committee was established in 2023 to enable more detailed scrutiny of PCC finances. A separate Joint Finance Committee involving representatives of PCC, SMITFL and Trust was also established to assist with group alignment and long-term planning.

In addition, the following groups advance the purposes of the PCC in ways largely outside the decision-making structure.

The Education Group organises public events such as the Autumn Lectures and congregational activities such as the Lent Course and the Parish Weekend/Awayday.
The Hospitality Group organises opportunities for welcome and hospitality: serving refreshments provided by the Café in the Crypt after the Sunday Eucharist and making food for celebrations such as the Patronal Festival, Easter breakfast, baptisms and confirmations.

St Martin-in-the-Fields Annual Report 2023

The Global Neighbours Group seeks to make international issues of justice and concern an integral part of the life of St Martin’s and to welcome and include people of all cultures within the life of St Martin’s. It allocates the PCC’s annual budget of overseas giving, making small grants to grassroots organisations and groups around the world. The Justice, Peace and Integrity of Creation Group was formed in 2019 as a sub-set of this group, and the Eco Church group has in turn emerged out of the JPIC group.
The Disability Advisory Group advocates for, reflects on and educates the community in disability and theological issues.

Safeguarding

Safeguarding of children and of adults at risk of harm is our most basic institutional priority. The PCC has complied with its duty under section 5 of the Safeguarding and Clergy Discipline Measure 2016 (duty to have regard to the House of Bishops’ guidance on safeguarding children and adults at risk of harm). We are grateful to Church Safeguarding Officer Kristine Wellington and Ruly Tsang (Chinese Safeguarding Assistant) for their care on this.

Faculty Approvals

In 2023, there were no Faculty applications.

Approval of Annual Report

The Annual Report set out on pages 3-20 was approved by the PCC on May 7, 2024.

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Revd Dr Sam Wells, Vicar of St Martin-in-the-Fields and Chair of the PCC

St Martin-in-the-Fields Parochial Church Council For the year ending 31 December 2023

ST MARTIN-IN-THE-FIELDS PAROCHIAL CHURCH COUNCIL

Registered Charity Number 1133936

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2023

St Martin-in-the-Fields Parochial Church Council For the year ending 31 December 2023

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The Parochial Church Council (PCC) is responsible for preparing the Annual Report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Law applicable to Parochial Church Councils in England and Wales requires the PCC members to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the PCC and the group and of the group's income and expenditure for the year. In preparing those financial statements the PCC is required to

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP;
make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departure disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the PCC will continue in operation for the foreseeable future.

The PCC members are responsible for keeping accounting records, which disclose with reasonable accuracy at any time the financial position of the PCC and the group, and which enable them to ensure that the financial statements comply with the Charities Act 2011, the Church Accounting Regulations 2006, and the Statement of Recommended Practice ‘Accounting and Reporting by Charities’ which is applicable to charities preparing their accounts in accordance with the ‘Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland’ (FRS 102), second edition effective 1 January 2019. They are also responsible for safeguarding the assets of the PCC and the group and hence for taking reasonable steps for the prevention and detection of fraud and breaches of law and regulations.

St Martin-in-the-Fields Parochial Church Council For the year ending 31 December 2023

Independent Auditor's Report to the Members of St Martin-in-the-Fields Parochial Church Council

For the year ended 31st December 2023

Opinion

We have audited the financial statements of the St Martin-in-the-Fields Parochial Church Council (“the PCC”) for the year ended 31 December 2023 which comprise the consolidated Statement of Financial Activities, the group and PCC Balance Sheets, the consolidated Cash Flow statement and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

• give a true and fair view of the state of the group’s and the PCC’s affairs as at 31 December 2023 and of the group’s net movement in funds for the year then ended;

have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Charities Act 2011.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to 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 with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going 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 statements 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 group’s ability to continue as a going concern for a period of at least twelve months from when the financial statements 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.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement 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 to report that fact. We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

adequate accounting records have not been kept by the parent charity (the PCC);
sufficient accounting records have not been kept; or
the parent financial statements are not in agreement with the accounting records and returns; or
we have not received all the information and explanations we require for our audit.

St Martin-in-the-Fields Parochial Church Council For the year ending 31 December 2023

Responsibilities of the trustees

As explained more fully in the trustees’ responsibilities statement set out on page 22 the trustees 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 trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the group’s and the PCC’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the PCC or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Based on our understanding of the group and the environment in which it operates, we identified that the principal risk of non-compliance with laws and regulations related to the regulatory framework for charities, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Charities Act, income tax, payroll tax and sales tax.

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to posting inappropriate journal entries and to management bias in accounting estimates. Audit procedures performed by the engagement team included:

Inspecting correspondence with regulators and tax authorities;
Discussions with management including consideration of known or suspected instances of non-compliance with laws and regulation and fraud;
Evaluating management’s controls designed to prevent and detect irregularities;
Identifying and testing journals, in particular any unusual entries; and
Challenging assumptions and judgements made by management in their critical accounting estimates

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

St Martin-in-the-Fields Parochial Church Council For the year ending 31 December 2023

Use of our report

This report is made solely to the PCC's trustees, as a body, in accordance with section 144 of the Charities Act 2006. Our audit work has been undertaken so that we might state to the PCC’s trustees those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the PCC and the PCC’s trustee as a body, for our audit work, for this report, or for the opinions we have formed.

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Adam Halsey (Senior Statutory Auditor) For and on behalf of Haysmacintyre LLP Statutory Auditor Date: 25 June 2024

10 Queen Street Place London EC4AR 1AG

St Martin-in-the-Fields Parochial Church Council For the year ending 31 December 2023

Consolidated Statement of Financial Activities

Note Income from: Donations and Legacies Donations from donors 2 Other donations and legacies 3 Charitable activities: - to further the Council's objects 4 Other trading activities 5 Investments 6 Total Income Expenditure on: Raising Funds Publicity costs 7 Operating costs of trading activities 5 Charitable activities Grants 8 Activities directly relating to the work of the Church 9 Total Expenditure Net gains on investments 13 Net (expenditure)/income Transfers between funds 18 Net Movement in Funds Reconciliation of funds: Balance brought forward at 1st January Balance carried forward at 31st December	Unrestricted Funds £ 324,033 587,433 711,163 5,114,195 12,462 6,749,286 1,744 5,187,199 10,400 1,539,068 6,738,411 10,875 136,101 146,976 (469,582) (322,606)	Restricted Endowment Funds Funds £ £ 855 - 468,748 - 78,613 - - - 17,303 - 565,519 - - - - - - - 640,359 - 640,359 - - 57,175 (74,840) 57,175 1,899 (138,000) (72,941) (80,825) 412,672 783,721 339,731 702,896	Restricted Endowment Funds Funds £ £ 855 - 468,748 - 78,613 - - - 17,303 - 565,519 - - - - - - - 640,359 - 640,359 - - 57,175 (74,840) 57,175 1,899 (138,000) (72,941) (80,825) 412,672 783,721 339,731 702,896	2023 2022 Total Total Funds Funds £ £ 324,888 326,448 1,056,181 750,034 789,776 581,504 5,114,195 3,906,355 29,765 22,848 7,314,805 5,587,189 1,744 115 5,187,199 4,373,033 10,400 10,500 2,179,427 1,759,490 7,378,770 6,143,138 57,175 (81,213) (6,790) (637,162) - - (6,790) (637,162) 726,811 1,363,973 720,021 726,811
		565,519
		- - - 640,359
		640,359
		-
		(74,840) 1,899 (72,941)
		412,672	783,721 702,896
		339,731

All recognised gains and losses for the year are included in the Statement of Financial Activities.

The results all relate to continuing activities.

St Martin-in-the-Fields Parochial Church Council For the year ending 31 December 2023

Balance Sheets

Note Fixed Assets Intangible assets 12 Tangible assets 12 Investments 13 Current Assets Stock Debtors 14 Cash at bank and in hand Liabilities: Amounts falling due within one year 15 Net Current Assets Total assets less current liabilities Liabilities: Amounts falling due after more than one year 16 Net Assets Funds Non-charitable trading reserves 18 Unrestricted 18 Restricted 18 Permanent endowment 18 18	2023 2022 £ £ - - 315,269 379,896 667,306 610,132 982,575 990,028 101,016 90,851 387,306 457,107 1,305,895 1,198,573 1,794,217 1,746,531 (1,657,437) (1,611,415) 136,780 135,116 1,119,355 1,125,144 (399,334) (398,333) 720,021 726,811 (697,872) (624,869) 375,266 155,287 339,731 412,672 702,896 783,721 720,021 726,811 Group	2023 2022 £ £ - - 21,549 50,556 667,306 610,132 688,855 - 660,688 - - 287,620 234,664 681,635 711,391 969,255 946,055 (224,217) (215,063) 745,038 730,992 1,433,893 1,391,680 (16,000) (40,000) 1,417,893 1,351,680 - - 375,266 155,287 339,731 412,672 702,896 783,721 1,417,893 1,351,680 PCC

Approved by the Parochial Church Council and authorised for issue on May 7 2024

==> picture [79 x 54] intentionally omitted <==

Sam Wells ......................................................

Vicar

==> picture [135 x 30] intentionally omitted <==

Mel Adams ....................................................

Churchwarden

==> picture [150 x 33] intentionally omitted <==

Jeff Claxton….................................................

Churchwarden

The notes on pages 29 to 48 form part of these financial statements.

St Martin-in-the-Fields Parochial Church Council For the year ending 31 December 2023

Consolidated Cashflow Statement

Cash flows from operating activities (Deficit)/surplus for the financial year Adjustments for: Depreciation of tangible assets Interest received Interest paid Add losses/(deduct gains) on investments Decrease/(increase) in trade and other debtors Decrease in stocks Increase in trade creditors and other creditors Other movements Cash flows from operations Net cash generated from operating activities Cash flows from investing activities (Purchase)/ disposals of tangible assets Disposal of investments Interest received Net cash from investing activities Cash flows from financing activities Repayment on CBIL Loan Interest paid Receipt of loan from Vicar's General Fund Repayment on Vicar's General Fund Loan Net increase in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year	2023 2022 £ £ (6,790) (637,162) 69,941 86,444 (29,765) (22,848) 17,576 12,241 (57,174) 81,213 69,800 48,456 (10,165) 7,173 163,313 379,571 - 24,000 216,736 (20,912) 216,736 (20,912) (5,313) (9,690) - - 29,765 22,848 24,452 13,158 (125,000) (125,000) (17,576) (12,241) 150,000 267,290 (141,290) (24,000) (133,866) 106,049 107,322 98,295 1,198,573 1,100,278 1,305,895 1,198,573 Group	2023 2022 £ £ (6,790) (637,162) 69,941 86,444 (29,765) (22,848) 17,576 12,241 (57,174) 81,213 69,800 48,456 (10,165) 7,173 163,313 379,571 - 24,000 216,736 (20,912) 216,736 (20,912) (5,313) (9,690) - - 29,765 22,848 24,452 13,158 (125,000) (125,000) (17,576) (12,241) 150,000 267,290 (141,290) (24,000) (133,866) 106,049 107,322 98,295 1,198,573 1,100,278 1,305,895 1,198,573 Group
		(20,912)
		(20,912) (9,690) - 22,848
		13,158 (125,000) (12,241) 267,290 (24,000)
		106,049 98,295 1,100,278
		1,198,573

St Martin-in-the-Fields Parochial Church Council For the year ending 31 December 2023

Notes to the Financial Statements

1 Charity Information and Accounting Policies

a) Charity Information

St Martin-in-the-Fields Parochial Church Council (the "PCC") is a charity registered in England and Wales no 1133936. The registered office is 5 St Martin's Place, London WC2N 4JH.

b) Basis of Preparation

The PCC is a public benefit entity within the meaning of FRS 102. The financial statements have been prepared under the Charities Act 2011 and in accordance with the Church Accounting Regulations 2006 governing the individual accounts of PCCs, and with the Regulations’ ‘true and fair’ provisions and the 2019 version of the Statement of Recommended Practice, Accounting and Reporting by Charities (SORP (FRS 102)).

The financial statements have been prepared under the historical cost convention as modified by the revaluation of investments. Income and expenditure are accounted for on the accruals basis. The financial statements are presented in sterling (£), which is the functional currency of the PCC and its subsidiary.

The financial statements are consolidated to include the results, assets and liabilities of the PCC’s subsidiary St Martin-in-the-Fields Limited. The financial statements do not include the accounts of other charities which have been established to raise funds to support the church and its activities, church groups that owe their main affiliation to another body nor those that are informal gatherings of church members over which the PCC does not have operational or financial control.

The principal accounting policies applied in the preparation of these financial statements are set out in the notes below. These policies have been consistently applied to all years presented.

The principal area of estimation uncertainty in the preparation of the accounts relate to the depreciation of tangible fixed assets as set out in the accounting policies below.

These financial statements are prepared on a going concern basis. In determining the appropriateness of the going concern basis the PCC assesses a range of information relating to current and projected future conditions including projected budgets and cash flows for a period of 12 months from the date of approval of the financial statements, and any potential additional funding requirements.

The PCC considers that it is appropriate to continue to adopt the going concern basis in preparing these financial statements and is not aware of any material uncertainties over its financial viability.

c) Income

Income, consists of donations, grants, legacies, investment income, income from charitable activities and income from trading activities.

Donations and grants

Collections and Planned Giving are recognised when they are received. Income tax recoverable on Gift Aid donations are accrued when the net income is recognised.

Other donations and grants are accounted for when the PCC is entitled to the income, receipt is probable and the income can be reliably measured. All donations and grants are allocated to the relevant fund according to any restrictions place upon their use.

Legacies

Legacies are accounted for as income where there is clear entitlement, and the amounts can be measured reliably, and receipt is probable.

St Martin-in-the-Fields Parochial Church Council For the year ending 31 December 2023

1 Charity Information and Accounting Policies (continued)

d) Expenditure

Expenditure is accounted for on an accruals basis inclusive of any VAT which cannot be recovered.

Expenditure is recognised when there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable a transfer of economic benefit will be required in settlement and the amounts can be measured reliably.

Grants

Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding obligation on the PCC.

Activities directly relating to the work of the Church

The contribution to the Diocesan Common Fund is accounted for when payable.

e) Fund Accounting

Unrestricted funds are available for use at the discretion of the PCC in the furtherance of its general objectives.

Designated funds are funds set aside by the PCC out of unrestricted general funds for a specific feature, purpose or projects.

Restricted funds are funds subject to specific restriction imposed by donors or by the purpose of a fundraising appeal and are separately categorised in the notes to the financial statements.

Permanent endowment funds are funds which the donor or the Consistory Court (the court of the bishop in the Diocese of London) has stated to be capital.

f) Fixed Assets

Intangible Assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed five years.

Amortisation is provided on the following basis:

Software - 50% straight line basis

Website - 3 years

Building

In view of the restrictions inherent in the building and its inextricable link to the church itself full provision has been made against the costs of improvement.

St Martin-in-the-Fields Parochial Church Council For the year ending 31 December 2023

1 Charity Information and Accounting Policies (continued)

f) Fixed Assets (continued)

Consecrated land and buildings

Consecrated and beneficed property is excluded from the accounts by s10(2) of the Charities Act 2011. All expenditure incurred during the year on consecrated or benefice buildings, whether maintenance or improvement, is written off as expenditure in the Consolidated Statement of Financial Activities.

Tangible fixed assets and moveable church furnishings

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided on all tangible fixed assets on a straight line basis to write off the cost, less estimated residual value, over their expected useful lives as follows:

Equipment and fittings – 5 years

Fixtures and moveable church furnishings – 20 years

g) Investments

Investments are valued at market value. Any unrealised change in value since the last balance sheet date is credited or charged to the Consolidated Statement of Financial Activities. Any realised gain or loss is also credited or charged to the Consolidated Statement of Financial Activities.

h Current Assets

Cash and cash equivalents include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.

Stock is stated at the lower of cost and net realisable value. Cost is determined on a first-in, first-out basis and net realisable value is based on estimated selling price.

i) Pension Costs

Contributions to the personal pension arrangements of employees through an automatic enrolment scheme are recognised as an expense in the period which they are incurred.

St Martin-in-the-Fields Parochial Church Council For the year ending 31 December 2023

2 Donations arising from services and congregation Unrestricted Funds £ Planned giving: Gift Aid Covenants and Pledges envelopes 94,912 Other donations 61,943 Parish giving 34,847 Donations via Iknowchurch 3,831 Income tax recoverable on Gift Aid 37,186 Collections 84,818 Boxes in church 6,496 324,033	Restricted Funds £ - 510 0 345 - - - 855	2023 2022 Total Total Funds Funds £ £ 94,912 90,079 62,453 93,848 34,847 33,707 4,176 8,550 37,186 27,033 84,818 51,313 6,496 21,918 324,888 326,448

Of the amounts listed under “Other donations”, £11,583 (2022: £35,867) relates to Treasurer’s Ton donations.

3 Legacies, other donations and grants Unrestricted Funds £ Legacies 92,670 Other Donations Received - Chinese Congregation project and donations 9,588 Donations for Sunday International Group - Clergy Grant 21,390 HeartEdge - Music income 114,081 Bread for the World - International 600 Worship and Spirituality - Hospitality 7,681 BeingWith - Disability - Education 75,734 Other Grant income 265,689 Consolidated total 587,433 License fee received from SMITFL - PCC total 587,433	Restricted Funds £ - - 17,045 34,668 - 218,886 46,183 1,580 - - 750 109,642 12,294 - 27,700 468,748 - 468,748	2023 Total Funds £ 92,670 - 26,633 34,668 21,390 218,886 160,264 1,580 600 - 8,431 109,642 12,294 75,734 293,389 1,056,181 - 1,056,181	2022 Total Funds £ 13,647 2,901 10,461 28,703 47,098 293,390 89,141 1,132 410 - 13,569 - 4,147 55,888 189,547
			750,034 -
			750,034

The majority of the restricted income reflects grant funding obtained by the St Martin-in-the-Fields Trust for the PCC and gifted onto the PCC. Of these grants £178,550 was received for HeartEdge, £101,000 was received for Being With, £175,500 was received for Music (including Choral Scholars, St Martin Voices and Sacred Music) and smaller amounts for Sunday International Group, Education and the Disability Advisory Group.

Other Grant Income includes unrestricted grants from the Trust for core PCC costs of £250,000.

Overall, the Trust contributed £783,418 to the PCC in 2023 (2022 £490,203)

The lay leadership of the 1.30pm (Chinese speaking) congregation were commissioned at a service on 17 September 2023. Prior to this date during 2023 the donations made in services were posted to the unrestricted fund and individual donations were posted to the Chinese Ministry restricted fund. From 17 September 2023, as agreed by the lay leadership of the 1.30pm congregation and affirmed by the PCC, all donations (unless specifically requested) are paid into the unrestricted fund. (From 2024 all direct expenses of the 1.30pm congregation will be borne by the unrestricted fund.)

Total donations from the 1.30pm congregation to the unrestricted fund amounted to £9,588.

St Martin-in-the-Fields Parochial Church Council For the year ending 31 December 2023

The Clergy Grant of £21,390 consists of a contribution to rental costs, the grant in 2022 had been higher as this included the reimbursement of ministry costs relating to the 1.30pm Congregation.

Grant income for SMITFL is included within 'Other trading activities' on the face of the Consolidated Statement of Financial Activities. During the year, the company received grants totalling £267,418 from St Martin-in-the-Fields Trust which included £40,000 for the refurbishment of Crypt Toilets and £225,000 to support the growth of the business.

2022 comparative information

2022 comparative information
Unrestricted
Funds
£
Legacies
13,647
Other Donations Received - Chinese Congregation donation
-
Grant for Chinese Congregation project
-
Donations for Sunday International Group
-
Clergy Grant
47,098
HeartEdge
-
Music income
109
Bread for the World
-
International
410
Worship and Spirituality
-
Hospitality
13,411
Disability
-
Education
55,888
Other Grant income
2,873
PCC only:
133,436

2022
Restricted
Total
Funds
Funds
£
£
-
13,647
2,901
2,901
10,461
10,461
28,703
28,703
-
47,098
293,390
293,390
89,032
89,141
1,132
1,132
-
410
-
-
158
13,569
4,147
4,147
-
55,888
186,674
189,547
616,598
750,034

4 Income from Charitable Activities to further the Council's objects

Unrestricted Funds £ Vergers' Fees and Rehearsal Room Hire 1,050 Church Music 683,977 Special Church Services and Advent Booklet Sales 26,136 711,163	Restricted Funds £ - 78,613 - 78,613	2023 2022 Total Total Funds Funds £ £ 1,050 1,120 762,590 548,938 26,136 31,446 789,776 581,504

2022 comparative information Unrestricted Funds £ Vergers' Fees and Rehearsal Room Hire 1,120 Church Music 493,909 Special Church Services and Advent Booklet Sales 31,446 526,475	2022 Restricted Total Funds Funds £ £ - 1,120 55,029 548,938 - 31,446 55,029 581,504

St Martin-in-the-Fields Parochial Church Council For the year ending 31 December 2023

5 Trading Subsidiary

The PCC, through nominees, owns the whole of the issued share capital of St Martin-in-the-Fields Limited (registered number: 2096693) (‘SMITFL’), whose principal activities during the year were those of operating a restaurant, a shop, concert management, venue hire and event catering, the organisation of exhibitions and other retailing activities.

A summary of the results of the subsidiary is shown below:

Turnover Cost of sales - stock Cost of sales - other Gross Profit Other operating costs Other income Operating loss Interest receivable Interest payable Loss before taxation Taxation Gift Aid distribution to PCC from profits earning in prior periods Accumulated loss brought forward Non-charitable trading reserves 6 Income from Investments Unrestricted Funds £ Interest received from: Rysbrack and others 12,462	Restricted Funds £ 17,303		Unrestricted Unrestricted Total Total 2023 2022 £ £ 4,787,919 3,553,003 (983,388) (810,238) (1,856,488) (1,553,580) 1,948,043 1,189,185 (2,329,746) (1,996,974) 321,719 352,764 (59,984) (455,025) 4,557 588 (17,576) (12,241) (73,003) (466,678) - - - - (624,869) (158,191) (697,872) (624,869) 2023 2022 Total Total Funds Funds £ £ 29,765 22,848

2022 comparative information Interest received from: Rysbrack and others	Unrestricted Funds £ 4,848	2022 Restricted Total Funds Funds £ £ 18,000 22,848

St Martin-in-the-Fields Parochial Church Council For the year ending 31 December 2023

7 Publicity Costs

Unrestricted Funds £ 1,744 - 1,744 Unrestricted Funds £ 115	2023 2022 Restricted Total Total Funds Funds Funds £ £ £ - 1,744 115 - - - 1,744 115 2022 Restricted Total Funds Funds £ £ - 115 - - - 115 2023 2022 Unrestricted Unrestricted Funds Funds £ £ 10,400 10,500 - - 10,400 10,500	2022 Total Funds £ 115
		115

115	-

A list of grants made is available on request from the PCC office.

St Martin-in-the-Fields Parochial Church Council For the year ending 31 December 2023

9 Activities directly relating to the work of the Church Unrestricted Funds £ Ministry: Common Fund 193,098 Clergy expenses 11,415 Altar supplies 4,727 Church running expenses 93,738 Archive Expenses - HeartEdge Project - BeingWith Project - Church maintenance and repairs 54,530 Special Church Services expenses 19,897 Church Music & Choir Costs 551,260 Choral Scholars 27,776 Flowers 400 Insurance 75,066 Sundries 37,636 Depreciation 29,007 Staff costs (including contract staff) 365,652 Staff pension cost 8,950 Recruitment & training costs 1,773 Copyright licence 2,219 International - Worship and Spirituality 9,301 Hospitality 3,275 Disability Advisory Group - Education 36,014 1,525,734 Governance Costs (see note 10) 13,334 1,539,068	Restricted Funds £ 22,431 - - 39,121 - 85,157 34,009 76,705 - 83,171 32,348 915 - - - 256,534 1,484 - - - 179 - 8,305 - 640,359 - 640,359	2023 2022 Total Total Funds Funds £ £ 215,529 238,220 11,415 3,982 4,727 3,026 132,859 125,069 - - 85,157 150,305 34,009 - 131,235 68,443 19,897 23,963 634,431 382,895 60,124 52,955 1,315 1,567 75,066 74,263 37,636 21,759 29,007 36,639 622,186 492,498 10,434 6,049 1,773 4,724 2,219 639 - (50) 9,480 20,083 3,275 6,581 8,305 - 36,014 30,215 2,166,093 1,743,825 13,334 15,665 2,179,427 1,759,490

St Martin-in-the-Fields Parochial Church Council For the year ending 31 December 2023

Note 9 (continued)

2022 comparative information

Note 9 (continued) 2022 comparative information
9 Activities directly relating to the work of the Church Unrestricted Funds £ Ministry: Common Fund 238,220 Clergy expenses 3,982 Altar supplies 3,026 Church running expenses 89,570 Archive Expenses - HeartEdge Project 3,997 Church maintenance and repairs 52,548 Special Church Services expenses 23,963 Church Music & Choir Costs 348,790 Choral Scholars 14,857 Flowers - Insurance 74,263 Sundries 21,674 Depreciation 36,639 Staff costs (including contract staff) 296,701 Staff pension cost 5,779 Recruitment & training costs 4,305 Copyright licence 639 International (50) Worship and Spirituality 5,866 Hospitality 6,581 Education 28,521 1,259,871 Governance Costs (see note 10) 15,665 1,275,536	Restricted Funds £ - - - 35,499 - 146,308 15,895 - 34,105 38,098 1,567 - 85 - 195,797 270 419 - - 14,217 - 1,694 483,954 - 483,954	2022 Total Funds £ 238,220 3,982 3,026 125,069 - 150,305 68,443 23,963 382,895 52,955 1,567 74,263 21,759 36,639 492,498 6,049 4,724 639 (50) 20,083 6,581 30,215
		1,743,825 15,665
		1,759,490

St Martin-in-the-Fields Parochial Church Council For the year ending 31 December 2023

10 Governance Costs Professional fees Bank charges Auditors' remuneration - audit fee Other accounting costs	2023 Unrestricted Funds £ - 1,728 11,606 -	2022 Unrestricted Funds £ 863 1,500 13,303 -
	13,334	15,665

The audit fee for St Martin-in-the-Fields Limited is reflected in trading costs and is £11,000+VAT (2022: £11,500 + VAT).

11 Staff Costs Wages and salaries Social security costs Pension costs	2023 £ 2,636,847 207,131 58,537	2022 £ 2,162,612 162,827 41,689
	2,902,515	2,367,128

The average number of employees across the group was 124 (2022:97). Their payroll costs can be analysed as follows:

PCC activities and administration Trading subsidiary	2023 2022 £ £ 601,628 458,133 2,300,887 1,908,995
	2,902,515 2,367,128

The number of employees whose emoluments amounted to over £60,000 in the year was as follows:

£60,001 - £70,000 £70,001 - £80,000 £80,001 - £90,000 £90,000 - £100,000 £100,000-£120,000	2023 2022 Number Number 3 - - - - - - - 1 1

Pension contributions to higher paid staff were £12,503 (2022: £7,000).

St Martin-in-the-Fields Parochial Church Council For the year ending 31 December 2023

Expenses reimbursed to members of the clergy, who are ex-officio PCC members, amounted to £10,960 (2022: £3,982) for various items of expenditure. One PCC member received reimbursements of expenses during the year of £1,746 (2022: £2,332). The total number of clergy and PCC members who were paid expenses was 7 (2022: 7). The total employee benefits of the key management personnel of the parent charity were £55,084(2022: £55,054).

The key management personnel of the group comprise those of the charity and the key management personnel of its wholly owned subsidiary, St-Martins-in-the-Fields Limited (SMITFL). The employee benefits of the key management personnel of SMITFL were £366,738 (2022: £315,558). The employee benefits of key management personnel of the group were therefore £421,823(2021: £370,642).

Some PCC staff costs in note 9 have been charged to HeartEdge or other restricted categories and so the total is lower than PCC staff costs in this note.

12 Intangible and Tangible Fixed Assets for Use by the PCC

a) Group Cost At 1st January 2023 Adjustment At 31st December 2023 Depreciation At 1st January 2023 Charge for the year At 31st December 2023 Net Book Value At 31st December 2023 At 31st December 2022	Intangible Assets Total £ 83,518 - 83,518 83,518 - 83,518 - -	Building £ 33,071,464 - 33,071,464 33,071,464 - 33,071,464 - -	Equipment and Fittings £ 1,587,924 5,315 1,593,239 1,216,840 67,332 1,284,172 309,067 371,084	Fixtures and Moveable Tangible Church Assets Furnishings Total £ £ 96,180 34,755,568 - 5,315 96,180 34,760,883 87,369 34,375,673 2,609 69,941 89,978 34,445,614 6,202 315,269 8,811 379,896

Tangible Fixed Assets includes £259,000 in relation to the RIBA Stage 2 Report commissioned in 2020. It relates to the long-term building programme and will therefore be depreciated in line with future capital projects as and when they take place.

St Martin-in-the-Fields Parochial Church Council For the year ending 31 December 2023

b) PCC

PCC
Cost At 1st January 2023 Additions At 31st December 2023 Depreciation At 1st January 2023 Charge for the year At 31st December 2023 Net Book Value At 31st December 2023 At 31st December 2022	Intangible Assets Total £ 61,453 - 61,453 61,453 - 61,453 - -	Building £ 33,071,464 - 33,071,464 33,071,464 - 33,071,464 - -	Equipment and Fittings £ 278,411 - 278,411 236,665 26,399 263,064 15,348 41,746	Fixtures and Moveable Church Furnishings £ 96,180 - 96,180 87,370 2,609 89,979 6,201 8,810	Total £ 33,446,055 -
					33,446,055
					33,395,499 29,007
					33,424,506
					21,549
					50,556

13 Fixed Asset Investments

St Martin-in-the-Fields Parochial Church Council For the year ending 31 December 2023

(a) Group Market value at 1st January 2023 Adjustment Disposal of shares Revaluation gain Market value at 31st December 2023 Historical cost at 31st December 2023	2023 2022 £ £ 610,132 691,345 57,174 (81,213) 667,306 610,132 256,030 256,030

All group fixed assets investments are held as endowment funds.

The market values of the principal investments at 31st December 2023 were as follows:

	2023	2022
	£	£
CBF Investment Fund - Income Shares	553,331	505,749
COIF Charities Investment Fund - Income Units	113,975	104,383

(b) PCC

In addition to the investments shown above, the PCC beneficially owns the share capital of St Martin-inthe-Fields Limited (‘SMITFL)’ which is a company registered in England and Wales number 2096693 (see Note 5).

The share capital of SMITFL of £100 is divided into 100 ordinary shares of £1 each. There are three ordinary £1 shares held by the Vicar and the two Churchwardens on behalf of the PCC. SMITFL being a private company, the shares are not open to subscription from the public, and only the Vicar and Churchwardens may hold a share in the company. The shareholders are responsible for the appointment of the chair of SMITFL and the non-executive directors. Upon retirement from the role of Vicar or Churchwarden, the share transfers to the next Vicar or Churchwarden. SMITFL has been consolidated because it is under the PCC's control.

14 Debtors 2023 £ Trade debtors 164,159 Amounts owed by group and subsidiary undertakings: Loan - Amount owed by connected charities 2,712 Other debtors 83,527 Prepayments and accrued income 136,908 387,306	2022 £ 131,379 - 39,572 218,617 67,539 457,107 Group	2023 2022 £ £ 201,018 150,284 4,548 19,973 1,972 275 318 28,476 79,764 35,656 287,620 234,664 PCC

St Martin-in-the-Fields Parochial Church Council For the year ending 31 December 2023

Other debtors for 2022 included a deposit of £117,290 placed with EDF Energy during the year to procure a fixed term contract. This was returned at the end of the contract in June 2023.

Prepayments and accrued income have increased mainly due to an accrual of legacy income in the 2023 accounts.

'Trade debtors for the PCC has increased, due to the greater number of PCC promoted music concerts held in December compared to the previous year, at the end of 2023 concert income owed to the PCC amounted to £185k (2022: £98k).

15 Liabilities: Amounts falling due within one year 2023 £ Bank Loan 125,000 Trade creditors 459,511 Amounts owed to group and subsidiary undertakings: Other - Amount owed to connected charities: Loan 24,000 Other 8,352 Other creditors 336,373 Other taxes and social security 399,490 Accruals and deferred income 304,711 1,657,437	15 Liabilities: Amounts falling due within one year 2023 £ Bank Loan 125,000 Trade creditors 459,511 Amounts owed to group and subsidiary undertakings: Other - Amount owed to connected charities: Loan 24,000 Other 8,352 Other creditors 336,373 Other taxes and social security 399,490 Accruals and deferred income 304,711 1,657,437	2022 £ 125,000 351,002 - 141,290 10,564 260,880 451,007 271,672 1,611,415 Group	2023 2022 £ £ - - 82,210 63,119 23,070 17,405 24,000 24,000 3,212 6,279 16,204 2,504 18,136 28,954 57,385 72,802 PCC
	1,657,437		224,217 215,063

The amounts owed to connected charities for 2023 relate to St Martin-in-the-Fields Trust £8,352 (2022: £10,564).

During 2020 a secured loan of £500,000 was made to St Martin-in-the-Fields Limited (‘SMITFL’) by National Westminster Bank plc, supported by the Coronavirus Business Interruption Loan Scheme. The loan is subject to interest at 1.88% over Base Rate and is repayable by 48 monthly instalments ending in August 2025. The total balance outstanding at 31st December 2023 was £208,333 of which the amount due within one year of £125,000.

In 2021 the Vicar's General Fund provided an interest free loan to the PCC of £100,000. The balance outstanding at 31 December 2023 was £40,000 (2022: £64,000). The amount due within one year is £24,000 (2021: £24,000). For sums due after more than one year see Note 16.

During 2022 St Martin-in-the-Fields Limited ("SMITFL") received a loan of £117,290 from the Vicar’s General Fund to provide a security deposit to EDF Energy. This loan was repaid in 2023 when the deposit was returned from EDF.

St Martin-in-the-Fields Parochial Church Council For the year ending 31 December 2023

Liabilities: Amounts falling due after more than one year Loan from Vicar's General Fund CBIL loan (see note 15)	2023 2022 2023 2022 £ £ £ £ 316,000 190,000 16,000 40,000 83,334 208,333 - - 399,334 398,333 16,000 40,000 Group PCC
	399,334

16 Liabilities: Amounts falling due

During 2022 St Martin-in-the-Fields Limited (‘SMITFL’) received a loan of £150,000 from the Vicar’s General Fund, with a second instalment of £150,000 being received in 2023. This loan is repayable from 2026, over a period of six years to 2032.

17 Analysis of Group Net Assets between Funds

17 Analysis of Group Net Assets between Funds
Fund balances at 31st December 2023 are represented by: Intangible fixed assets Tangible fixed assets Investments Net current assets Liabilities falling due after one year Total net assets Fund balances at 31st December 2022 are represented by: Intangible fixed assets Tangible fixed assets Investments Net current assets Liabilities falling due after one year Total net assets	Unrestricted Funds £ - 315,269 - (238,541) (399,334)	Restricted Funds £ - - - 339,731 -	Endowment Funds £ - - 667,306 35,590 - 702,896 Endowment Funds £ - - 610,132 173,588 783,720	Total £ - 315,269 667,306 136,780 (399,334)
	(322,606)	339,731		720,021
	Unrestricted Funds £ - 379,896 - (451,143) (398,333) (469,581)	Restricted Funds £ - - - 412,672 412,672		£ - 379,896 610,132 135,117 (398,333)
				726,811

St Martin-in-the-Fields Parochial Church Council For the year ending 31 December 2023

18 Statement of Funds Unrestricted Funds General Designated: Austen Williams Room refurbishment Disability Awareness Group Total unrestricted funds Restricted Funds Maintenance and refurbishment fund Archive Disability Advisory Group Chinese Ministry Sunday International Group St Martin's Voices Music development Bread for the World Choral Scholar Grants HeartEdge Being with Sheppard Scholar Companions of Nazareth Nazareth Community Other restricted funds Total restricted funds Endowment Funds Permanent endowment fund Rysbrack Bust Fund Trinity Chapel Fund Total endowment funds Total PCC Funds Non-charitable trading reserves Total Group Funds	At 1st January 2023 £ 148,389 5,000 1,899 155,288 227,743 2,031 - 10,823 34,510 23,696 27,342 2,329 - 46,506 9,400 - - - 28,291 412,671 650,748 132,973 783,721 1,351,680 (624,869) 726,811	Income £ 1,635,090 - - 1,635,090 17,303 10 12,294 17,045 34,668 62,899 25,297 1,580 36,600 214,046 109,642 4,841 20,345 6,250 2,699 565,519 - - - 2,200,609 5,114,196 7,314,805	Expenditure £ (1,551,213) - - (1,551,213) (76,705) - (8,305) (16,881) (36,172) (73,262) (33,550) - (33,267) (209,743) (85,898) (28,835) (14,165) (179) (23,396) (640,358) - - - (2,191,571) (5,187,199) (7,378,770)	Transfers/ Investment Gains £ 138,000 - (1,899) 136,101 - - 1,899 - - - - - - (23,994) - 23,994 - - - 1,899 (90,417) 9,592 (80,825) 57,175 - 57,175	At 31st December 2023 £ 370,266 5,000 -
					375,266
					168,341 2,041 5,888 10,987 33,006 13,333 19,089 3,909 3,333 26,815 33,144 - 6,180 6,071 7,594
					339,731
					560,331 142,565
					702,896
					1,417,893
					(697,872)
					720,021

St Martin-in-the-Fields Parochial Church Council For the year ending 31 December 2023

18 Statement of Funds (continued)

Restricted Funds

The Church Maintenance and Refurbishment fund represents accumulated donations and income from the Rysbrack Bust fund, which is restricted to maintenance of the fabric and ornaments of the Church, and also represents the surplus generated by ticketed concerts promoted by the PCC.

The Disability Advisory Group fund supports the work of the Disability Advisory Group which advocates for, reflects on and educates the church community nationally and internationally on disability and theological issues. This was a designated fund in 2022 and from 2023 has now become a restricted fund.

The Archive fund is used to support on-going costs for the St Martin's archive.

The Sunday International fund supports the work at St Martin's to assist vulnerable foreign nationals.

The St Martin's Voices fund supports the development of the St Martin's Voices ensemble and other artistic development programmes.

The Music Development fund supports music and choir development within the PCC.

The Bread for the World fund is used for weekly informal Eucharist and fellowship meetings.

The Choral Scholars fund supports the music and education activities of the PCC.

The HeartEdge fund supports the activities of St Martin's in building a global membership of churches which engages in activities based upon the themes of compassion, culture, commerce, and congregation.

The Being With fund is used to support a short course written by Sam Wells and Sally Hitchiner with the aim of helping those enquiring regardless of background or experience about the Christian faith.

The Companions of Nazareth fund is to pay the stipend and other costs of the chaplain to the Companions of Nazareth which are borne by the Companions themselves.

The Nazareth Community fund supports the activities of the Nazareth Community.

The Chinese Ministry Fund supports the ministry to the 1:30 pm (Chinese speaking) Congregation. From 2024, apart from amounts which are specifically for restricted projects of the 1:30 pm Congregation, all income and expenditure of the 1:30 pm congregation will pass through the PCC unrestricted fund.

Endowment Funds

Rysbrack Bust Fund

At 31 December 2023, the London Diocesan Fund held investments and cash to the value of £560,331 (2022: £650,748) on behalf of the Parochial Church Council, following a judgement of the Consistory Court of the Diocese in accordance with agreements proposed on the sale by the Parochial Church Council of the Rysbrack Bust and as amended by a proposal from the Parochial Church Council which the Chancellor of the Diocese was content with. The original terms of the agreement state that once this fund, together with accumulated income, reached the amount of £435,000, the income therefrom would become available for the purposes of maintaining the fabric of the Church. The income payable to the fabric of the Church during the year amounted to £17,300 (2022: £18,000).

The PCC sought approval from the Chancellor of the Diocese to release some of the increase in capital in the Rysbrack Bust Fund and was informed in February 2021 that the Chancellor was content with the PCC's proposal to transfer £538,224 to the PCC's general funds with the remaining £435,000 and future income arising continuing to be held in the Rysbrack Fund in accordance with the original Order made by the Consistory Court of the Diocese.

St Martin-in-the-Fields Parochial Church Council For the year ending 31 December 2023

During the year £138,000 (2022: £200,000) was transferred from the endowment fund to the unrestricted fund with the total transferred from the Rysbrack Fund to the unrestricted fund to date amounting to £538,000.

As the PCC is the beneficial owner of these funds, they have been included in the financial statements.

Trinity Chapel Fund

The Trinity Chapel Site Charity, to which the PCC had hitherto been entitled to a proportion of the income, was wound up in 2008 and the capital values distributed to the beneficiaries as a mixture of permanent and expendable endowment under a scheme approved by the Charity Commissioners. The PCC disposed of the invested funds representing the expendable endowment and the endowment funds represent the permanently endowed funds.

St Martin-in-the-Fields Parochial Church Council For the year ending 31 December 2023

18 Statement of Funds 2022 Comparative Unrestricted Funds General Designated: Austen Williams Room refurbishment Disability Awareness Group Total unrestricted funds Restricted Funds Maintenance and refurbishment fund Archive Chinese Ministry Sunday International Group St Martin's Voices Music development Bread for the World Choral Scholar Grants HeartEdge Being with Sheppard Scholar Other restricted funds Total restricted funds Endowment Funds Permanent endowment fund Rysbrack Bust Fund Trinity Chapel Fund Total endowment funds Total PCC Funds Non-charitable trading reserves Total Group Funds	At 1st January 2022 £ 246,385 5,000 (554) 250,831 94,458 2,031 4,645 36,462 2,386 27,342 1,257 - 21,874 - - 15,944 206,399 918,226 146,708 1,064,934 1,522,164 (158,191) 1,363,973	Income Expenditure £ £ 986,460 (1,284,457) - - 4,147 (1,694) 990,607 (1,286,151) 149,180 (15,895) - - 13,362 (7,184) 28,703 (30,655) 47,895 (26,585) 42,624 (42,624) 1,172 (100) 66,834 (66,834) 253,677 (215,774) 33,152 (23,752) 39,713 (52,984) 13,915 (1,567) 690,227 (483,954) - - - - - - 1,680,834 (1,770,105) 3,906,355 (4,373,033) 5,587,189 (6,143,138)	Transfers/ Investment Gains £ 200,000 - - 200,000 - - - - - - - - (13,271) - 13,271 - - (267,478) (13,735) (281,213) (81,213) - (81,213)	At 31st December 2022 £ 148,388 5,000 1,899
				155,287
				227,743 2,031 10,823 34,510 23,696 27,342 2,329 - 46,506 9,400 - 28,292
				412,672
				650,748 132,973
				783,721
				1,351,680
				(624,869)
				726,811

St Martin-in-the-Fields Parochial Church Council For the year ending 31 December 2023

19 Related Party Transactions

Two members of the PCC are directors of St Martin-in-the Fields Limited (‘SMITFL’). Two of the members of the PCC are trustees of the charity The Connection at St Martin-in-the-Fields. The Connection occupies part of the buildings at St Martin-in-the-Fields and paid a rental charge of £133,750 (2022: £128,750 of rental and related charges) to St Martin-in-the Fields Limited.

Two of the members of the PCC are trustees of the St Martin-in-the-Fields Trust. Income received by the Trust which was subsequently gifted onto the PCC was £783,418 (2022: £490,203) St Martin-in-the Fields Limited (‘SMITFL’) also received grants totalling £267,418 in 2023 (2022: £152,520). In addition, SMITFL charged management fees for paymaster services of £23,238 (2022: £nil) to the Trust.

Members of the PCC donated £18,100 to the PCC in 2023 (2022: £22,050).

One of the members of the PCC is a trustee of the 'Bishop Ho Ming Wah Association and Community Centre'. This charity occupies part of the St Martin-in-the-Fields buildings and paid a rental charge in the year to St Martin-in-the Fields Limited (‘SMITFL’) of £13,000 (2022: £9,750).

One member of the PCC is a trustee of the Vicar's General Fund, a charity whose registered office is located at St Martin-in-the-Fields. During 2021 the Vicar's General Fund advanced a loan of £100,000 to the PCC which is disclosed in note 15. The balance outstanding at 31 December 2023 was £40,000 (2022: £64,000). In 2023 the Vicar’s General Fund provided St Martin-in-the-Fields Limited (‘SMITFL’) with loans totalling £150,000 (disclosed in notes 15 and 16), (2022: £267,290). The balance outstanding at 31 December 2023 was £300,000 (2022: £267,290), with the current balance repayable from 2026 over a period of six years to 2032.

One of the members of the PCC is a trustee of the St Martin-in-the-Fields Charity. This charity occupies part of the St Martin-in-the-Fields buildings and paid a rental charge in the year to St Martin-in-the Fields Limited ("SMITFL") of £40,000 (2022: £nil) and paid management fees for paymaster services of £10,000 (2022: £nil).

St Martin-in-the-Fields Annual Report 2023

Appendix A

The Wider St Martin’s Community

The following charities are associated with and operate from the same site as the PCC, but they are independent of the PCC and each has its own board of trustees. Charity Commission numbers are in brackets.

Bishop Ho Ming Wah Association and Community Centre (290398)

We had been working for the last three years under the presumption that the Community Centre would have returned to its pre-COVID level of activity by now. Considering the issues with ageing memberships and declining service demand that existed before to COVID closure, it is clear that the recovery of returning members is not happening fast enough. To better serve those who could not attend during the week, the Community Centre began to operate on Saturdays in mid-2023. Membership has risen from 55% (2022) to 68% of the pre-COVID level, with new members making up 22%.

In 2023, 65 people attended various dance and fitness activities at the Centre every week. After running for over 20 years, Tai Chi proved to be the most popular, with a weekly attendance of 40. Lunch on Fridays served a total of 752 freshly cooked Chinese-style meals. There were 15 talks given by professionals covering different topics on health and wellness. Classes on Chinese arts and culture had a weekly attendance of 21. In addition, seven special events were created to foster a supportive community through celebrations over meals-sharing or simply taking pleasure in trips to places of attraction.

Since 2021, we have devoted increasing resources to helping the newly arrived HongKongers settle into London life. With funding from the Greater London Authority, we implemented a new project (Food for Our New Home 2) aimed at tackling the immediate needs of social isolation and poverty. Between August 2023 and January 2024, we welcomed 250 HongKongers at the Centre offering shared meals and a foodbank. Sharing meals with others is a great way to strengthen social connections, lower stress levels and increase self-esteem. The project provided a total of 684 meals and distributed 468 food parcels over the course of 14 fortnightly events. The bulk of participants were recent immigrants from Hong Kong, with 85% having been in the UK for two years or less. Positive participant feedback confirmed the importance of this work.

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Lunch on Fridays Nature Walk Chinese Art Class
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St Martin-in-the-Fields Annual Report 2023

Unfortunately, the challenges posed by a mix of post-COVID impacts and the cost-of-living crisis have exposed the Association’s financial strain to a new high level. Maintaining the current state of affairs may eventually render the operation unsustainable, even though prudent financial management may have contributed to keeping the operational deficit within acceptable bounds for the previous three years. In 2024, the Association will commemorate its 40th anniversary. The board of trustees came to the conclusion that we ought to seize this opportunity to transform the organisation and ensure sustainable growth.

We are very grateful to the wonderful supporters who have generously responded to our requests for any kind of support, financial or otherwise. We must also thank the team of amazing volunteers for their dedication and unwavering assistance, particularly during difficult times. We cordially invite you to continue partnering with us to improve the lives of those who are less fortunate in our community. Please contact us at enquiry@bhmwa.com

The Connection at St Martin-in-the-Fields (1078201)

This year, The Connection continued to deliver its vital services for the hundreds of people sleeping rough and experiencing homelessness from our Resource Centre in Adelaide Street, at St Martin’s House in Clapham. Our innovative Street Engagement Team has continued to go out onto the West End’s streets to reach the day-time street population.

Our Theory of Change has been fully embedded in everything we do, emphasizing the importance of relationships in our work - we work with people, not for them, at their pace.

This year also saw the launch of our new 2023 – 2028 Strategic Plan which has 6 objectives, including delivering ground-breaking and high-quality trauma informed services which support people sleeping rough to move away from the streets for good, and increasing accommodation options for people.

In November, St Martin’s House became a women-only supported accommodation service, which represents a great step forward in our work on women’s homelessness. We are excited to continue working with St Martin’s Trust to further develop the 18 Keys project.

This winter period we extended our Severe Weather Emergency Protocol provision, offering emergency bed spaces in our centre during times of extreme cold.

We’ve seen the numbers of people coming into our centre continue to increase this year, which reflects the increase in rough sleeping we’ve seen nationally. We continue to work tirelessly to support everyone who comes through our doors.

We are incredibly grateful to everyone who has supported our work in 2023.

St Martin-in-the-Fields Annual Report 2023

The St Martin-in-the-Fields Trust (110406)

Funds raised by the St Martin’s Trust support four key areas of activity at St Martin’s: the costs of maintaining and running the historic site in central London; supporting mission and ministry; music with an emphasis on young artist development and education; and work with homeless and vulnerable people. In line with these priorities, the trustees approve grants at trustee meetings which take place four times a year. In 2023 we were delighted to:

Welcome a new Director, Lucy Littlewood and Alex Padureanu, Head of Fundraising
Increase income by 62% from 2022 and beat budget by 24% (General donations up 56% on last year and net income up 120% from 2022).
Launch a new £30m fundraising campaign with a spectacular Gala which raised over £700,000.
Increased collaborative working across the St Martin’s family with increased joint financial planning, shared meetings and a promising joint communication narrative.

We have taken relevant parts of an existing Building Futures project and added current needs to develop a major new fundraising campaign for St Martin’s. It encapsulates all the special facets of this community. Congregation, compassion, culture, and commerce. A major capital redevelopment of the crypt and courtyard forms the core, alongside key conservation and repair of the church, necessary environmental impact improvements and ensuring the future growth and sustainability of our world class music, global theology, and care of those who are vulnerable. We are anticipating needing to raise over £30m by 2030.

Working with The Connection, creating a safe sanctuary to homeless women remained one of our key fundraising projects. The project obtained planning permission in late October, so our 18 keys project is now full steam ahead. We have secured more than £600,000 towards the £2m target including £90,000 over three years kindly supported by the Mercers' Charitable Foundation plus budget-relieving in-kind gifts worth £60,000.

In 2023, the team secured £498,000 in grants from Trusts & Foundations to support the wideranging work St Martin’s is known and admired for. During the year we received grants for the inspirational Sunday International Group and significant investment in the Being With course helping people discover or deepen their faith, as well as a new supporter who is particularly interested in the care of our historic building. Funds were secured for the community celebration to mark the Coronation of King Charles III. We were delighted to work closely with the Ho Ming Wah Association and the Greater London Authority on the delivery of their Hong Kong Welcome project, and with the music department to support their artist development programmes, with support from the Ouseley Church Music Trust. We are hugely grateful to the support from Trinity Church, Wall Street in New York City for their continued support of our Being With and HeartEdge programmes.

The highlight of the year was the Yes Campaign launch Gala which raised more than £700,000. It was a wonderful evening that showcased the absolute best of St Martin’s in its entirety.

We are delighted to have been able to support the PCC of St Martin-in-the-Field again in 2023 and look forward to an even closer working relationship in 2024.

Lucy Littlewood, Director

St Martin-in-the-Fields Annual Report 2023

St Martin-in-the-Fields Charity (261359/1156305)

The vision of St Martin-in-the-Fields Charity is for everyone to have a safe place to call home and the support they need. Our goal is that homelessness is prevented and when it does occur, people receive the best possible support that enables them to secure and keep a safe place to live.

Through our Vicar’s Relief Fund, we provide direct financial assistance, so that more people across the UK can find and keep a safe place to live. Our VRF grants help individuals or households to secure accommodation, by covering costs such as a rental deposit. This funding can transform a person’s circumstances quickly, effectively, and often in a matter of days. We award grants for preventing eviction up to a value of £350, and grants for accessing accommodation up to a value of £500. Between 1st April 2022- 31st March 2023, the VRF:

Received 5,358 applications from 1,476 frontline workers.
Awarded 4,833 grants with a 90% award rate.
Made 89% of VRF grants to help people access accommodation.
Made 11% of VRF grants to prevent eviction.
Supported 8,089 people.

This feedback is from a frontline worker who applied for a grant for a family fleeing domestic violence. Thank you for making this possible: “Many thanks indeed for all you have done to ensure this application could be turned around despite the Christmas break. Our client is utterly delighted to have been awarded the grant which will enable her to make a fresh start this new year. Your help and support have been highly appreciated by everyone here too and they have all asked me to pass on their thanks. It's lovely to have such a positive outcome when our advisers are working with so many people in difficult financial situations at the moment.”

Our Frontline Network embodies our belief that, to support people experiencing homelessness, we need to invest in the staff who are there for them every day. This includes people in roles such as outreach and social work both in the statutory and voluntary sectors. Since 2016, the Network has been empowering these workers to:

Share ideas, best practice, and experience, through national and local events.
Increase their expertise through grants for courses and training.
Amplify their voice, so frontline expertise can inform improvements to homelessness policy.

To respond to their client’s complex needs, frontline workers require knowledge about many subjects, from housing legislation and mental health to rights for asylum seekers, but do not always have access to the training they need. These challenges are compounded by increased demand for support amid the cost-of-living crisis. In our 2022 Frontline Worker Survey of 1,182 staff across the UK, 78% of survey respondents stated that demand for their service had increased over the past 12 months.

As well as providing grants for staff who have found an independent training course they wish to access, we are now organising a rolling calendar of training on the topics most frequently needed. This is paid for by us and completely free for attendees. Currently we are running one session a month, but we hope to increase this. We have started with topics such as navigating the Universal Credit system but will vary this according to what staff tell us they need.

Our aim is that homelessness is prevented, but when it does occur people receive the best possible support to find a safe place to call home. By equipping frontline staff with the skills they need, you are improving the support available to people, when they are facing homelessness.

St Martin-in-the-Fields Annual Report 2023

In 2023, we identify new and exciting projects in local areas across the UK which have the potential to make a real difference. We fund them, learn from them, and then share our learnings with other services and charities so that positive practise can be replicated elsewhere. Homelessness is a complex issue and there are many organisations working to support their communities, so it is vital that we work together to share what we know.

In our 2021 Survey, 83% of frontline workers reported having seen an increase in people presenting with mental health needs, as well as housing needs, over the previous 12 months. To respond to this, in 2023 we have made £600,000 available over three years to fund projects that provide targeted mental health support outside of healthcare settings for people facing homelessness. Thank you for making this possible. The successful three projects will be announced very soon!

In December 2023 we launched the 97th BBC Radio 4 Christmas Appeal with St Martin-inthe-Fields. This appeal raised over £5,000,000. This money will be used to fund our programmes over the next year.

St Martin-in-the-Fields Annual Report 2023

Appendix B

Groups and Activities at St Martin’s

Alongside our regular services and events at St Martin’s there are normally lots of activities happening throughout the year. This list gives just a snapshot of them. Please also look out for opportunities to learn more about what happens and how you can join in. We usually hold a ‘Market Place’ event and publish a ‘Review of Activities’ in the autumn. If you have any questions, please contact the Parish Office or ask the PCC person on duty on a Sunday morning.

Governance

PCC, Deanery Synod and Standing Committee

Chair/Contact

Vicar and Churchwardens

Activity Groups Archives Disability Advisory Group Education Global Neighbours Hospitality Justice, Peace and I ntegrity of Creation Group Eco Church

Chair/Contact Vacant Fiona MacMillan Martin Haigh Susannah Woodd Bronwyn Sanders Jim Sikorski Steve Adams

Liturgical Ministry Opportunities to support liturgy, by reading, intercessions, serving, etc. Bellringers Choir and Community Choir Compline Flower Arrangers Healing Team Stewards Fellowship, pastoral care, spirituality, formation Archers Being With Groups Children’s Church and Youth Group Cricket Drawing Club Meditation Group Nazareth Community Nazareth Companions Oasis Open Circle Sunday International Group Theology Group

Chair/Contact Sally Hitchiner Elizabeth Hibbert (Secretary) Jenny Sterling Jeff Claxton Anne Langley Sally Hitchiner Kristine Wellington

Chair/Contact

Michael Moran Sally Hitchiner Joy Faulkner-Mpeho Matt Frost Vicky Howard Duncan Roberts Richard Carter Catherine Duce Sarah Sikorski Angela Sheard Sophie Tyler Sam Wells

2023-12-31-accounts

Vicar

Table of Contents

Foreword

Report on Objectives

Cross-Site Vision

Cross-Site Mission

Congregation Mission

Key Objectives

Supporting Objectives

1. A beautiful, sustainable, accessible, open, hospitable, well-maintained building

2. Lively and profound worship

3. Vibrant and faithful congregational life and mission

4. Engaging, humble and prophetic public ministry

In pursuit of these objectives, in 2023 initiatives saw

5. Encouragement of and participation in our compassionate, cultural and commercial activities

6. Generation of income to achieve objectives

7. Administrative support for ministry and income-generation

Future Prospects

Financial Review

Context

Income

Expenditure

Result

Funds Transfers

Outlook

Reserves Policy

Pay Policy for Senior Staff

Risk Management

Public Benefit

Structure, Governance and Management

Organisational Structure

The PCC

PCC membership

Other key posts

The Board of St Martin-in-the-Fields Limited

Committees and other bodies

Safeguarding

Faculty Approvals

Approval of Annual Report

St Martin-in-the-Fields Parochial Church Council For the year ending 31 December 2023

ST MARTIN-IN-THE-FIELDS PAROCHIAL CHURCH COUNCIL

Registered Charity Number 1133936

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

St Martin-in-the-Fields Parochial Church Council For the year ending 31 December 2023

Opinion

In our opinion, the financial statements:

Basis for opinion

Conclusions relating to going concern

Other information

Matters on which we are required to report by exception

Responsibilities of the trustees

Auditor’s responsibilities for the audit of the financial statements

St Martin-in-the-Fields Parochial Church Council For the year ending 31 December 2023

Use of our report

St Martin-in-the-Fields Parochial Church Council For the year ending 31 December 2023

Consolidated Statement of Financial Activities

St Martin-in-the-Fields Parochial Church Council For the year ending 31 December 2023

Balance Sheets

St Martin-in-the-Fields Parochial Church Council For the year ending 31 December 2023

Consolidated Cashflow Statement

St Martin-in-the-Fields Parochial Church Council For the year ending 31 December 2023

Notes to the Financial Statements

1 Charity Information and Accounting Policies

a) Charity Information

b) Basis of Preparation

c) Income

Donations and grants

Legacies

St Martin-in-the-Fields Parochial Church Council For the year ending 31 December 2023

d) Expenditure

Grants

e) Fund Accounting

f) Fixed Assets

Intangible Assets

Building

1 Charity Information and Accounting Policies (continued)

f) Fixed Assets (continued)