CKWELL PARISH TREASURER'S REPORT ACCOUNTS AND ASSETS YEAR ENDI 12 2024 Incomin revenues Planned giving at £26,540.48 is slightly under 2023 but closer to the longer term trend Collections and donations (from services other than regular worship e.g. funerals) up £3000 mainly on account of donations at funerals Fees to the parish made up of weddings, funerals and banns readings at £1,149 are slightly down but this is really factor of banns, funerals and marriages However, there will be a cost element here when we made the annual return to the Diocese for the share that goes to the Diocese for weddings and funerals Hall lettings show a much improved position increasing from £12,881 to £28,551. However this figure is overstated by £7000 as one regular tenant overpaid significantly. As a consequence, 2025 income will reflect this change. At £21,551 of re-stated income, the lettings position is still under par compared to pre-covid levels Dividend income is very healthy and close to 2023 An exceptional item (Recovered bank balance) relates to the identification and subsequent closure of two old Barclays accounts connected with St Andrews with £5905 of balance between the two accounts. It is probable that this is income from old St Andrew's investments. We should consider this as exceptional income not regular income The total income stands at £98,410 but allowing for the overstated rental income (-£7000) and the exceptional income (-£5905.30), we should consider the true income of the parish of regular operating income at £85,505. Some £10,500 better than 2023 Ex enditure Running costs are much higher due to increased costs of gas and electricity. This accounts for most of the difference between 2023 and 2024 (+£5000). Gas and Electricity costs £11,000 per year- nearly 13% of our income Repairs and maintenance at £57,994.95 are higher than 2023 which in turn was an expensive year on the capital account due to the new boiler. Of this figure, £53,190 was made up of new windows for the Hall- a necessary but expensive outlay but one which should improve the rental opportunities significantly PSF/Diocesan stands at £75,000 per year after the PCC agreed to increase this by 3.5% from the previous period
Other notable expenditure is a large professional fees item incurred with solicitors for preparation of the lease with the nursery that pulled out at £5275- this work is not lost as it will allow us complete quickly and at reduced cost with a new tenant Cleaning routine has been established for the hall at £1460 for the year Total expenditure stands at £176,364 considerably above the £134,027 of 2023 but much of the difference is made up for the cost of the new hall windows (£53,190) Final result reserves investment cash at bank We have made £79,197 of transfers from reserves to cover operating costs We have incurred a loss of £77,953 Cash at bank is £9,169.10 at close of the year Investments (including cash at bank) have reduced from £548,580 to £465,378 of which £77,953 is accounted for by transfer to operating but there is also a loss of market value of circa £5000 Simon Barker 6th May 2024
ST ANDREW'S & ST MICHAEL'S CHURCHES, STOCKWELL STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 DECEMBER 2024 Unr¢slrictsd Restrlctgd Endowmgnt Funds Funds Funds Totsl Funds 2024 2023 Note INCOMING RESOURCES Incoming resources from donors Other voluntary incoming resources Income frorn operating activities to generate funds Income from operating ackn'vib'es lo further the work of the Church Income from investments 34,179 4,487 34,179 4,487 32,923 2,525 2b 2c 28.552 28.552 12,881 2d 2e 1.149 21.136 1.149 21.136 1,969 21.926 TOTAL INCOMING RESOURCES 89,503 89,503 72,224 RESOURCES USED Grants Church A¢tivities 3b Church management and administration 3c 168,466 9,456 168,466 9,456 131,663 3,084 177,922 177,922 134,747 NET EXPENDITURE FOR YEAR (88,419) {88.419) (62.5231 TRANSFER BETWEEN FUNDS 88.419 (46,303) (42,116) GAINS AND LOSSES ON INVESTMENTS Unrealssed and Realised 11,659 11,659 19.533 NET MOVEMENT IN FUNDS {46.303) 130,4571 {76.760) 142,990) BALANCES BROUGHT FORWARD AT 1 JANUARY 2024 71.005 483,072 554,077 597,067 BALANCES CARRIED FORWARD AT 31 DECEMBER 2024 £ 24.702 £ 452,615 £ 477.317 £ 554,077
ST ANDREW'S & ST MICHAEL'S CHURCHES, STOCKWELL 8ALANCE SHEET 31 DECEMBER 2024 2024 2023 Note FIXED ASSETS Investment assets 452,615 483,073 CURRENT ASSETS CBF Deposits Cash at Bank Debtors 37.211 13.600 20,913 9.169 16,253 25,422 71,724 CURRENT LIABILITIES Credttors Due Within One Year 720 720 NET CURRENT ASSETS 24,702 71,004 NET ASSETS £ 477.317 £ 554,077 FUNDS Unrestricted Restricted Endowments 24,702 452.615 71,005 483,072 £ 477,317 £ 554,077 Approved by the Parochial Church Council on 7 October 2025 -f& 2(4C LllL/L LJc<JeL -(( Cpyfje
ST ANDREW'S & ST MICHAEL'S CHURCHES, STOCKWELL NOTES TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES (a) General These accounts have been prepared under the historical cost convention and in accordance with applicable accounting standards, the Charities SORP and the Church Accounting Regulations 2006. (bl Incoming resources Unrestricted funds are available for use by the PCC for general expenditure. Restricted funds are restricted to the specific expenditure to which they relate. INCOMING RESOURCES Unrestrlcled Funds Restrlcted Endowment Fund8 Funds Totsl Fund$ 2024 2023 (a) Incoming resources from donors Planned giving Collections and other giving Income tax recoverable 27,656 6.523 27,656 6,523 27,265 5,658 34.179 34.179 32,923 Ibl 0th8r voluntary incoming resources Donations Igenerall Church Fabric Fund donations 4,487 4,487 2,525 4.487 4.487 2,525 Ic) Income from operating activities to generate funds Excursions. hamper etc. & entertainment committee Hall letting$ etc. 28.552 28,552 12,881 28.552 28.552 12,881 {d) Income from operating activities to further the work of the Church Weddings, funerals & baptisms Fees due lo the Diocese Miscellaneous 1.149 1,149 1,969 1.149 1,149 1.969 (e) Income from Inveslmants Dividends Interest 21.136 21.136 21,926 21.136 21,136 21.926 TOTAL INCOMING RESOURCES £ 89.503 £ 89,503 £ 72,224
ST ANDREW'S & ST MICHAEL'S CHURCHES, STOCKWELL NOTES TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2024 Icontd.) RESOURCES USED Unrestrlctsd Funds R8strlGted Funds Total Funds 2024 2023 la) Grants Grants & donalions (general) Ib) Church activitios Diocesan parish share Church running expenses (inc. insurance) Clergy expenses & readers'lSPA fees Fees (due to Diocese) Musi Organist's fees Fete. excursions, hamper & fayre Teaching - Sunday School, Footprints, etc. Hall cosls & maintenance Church repairs & mainlenance Altar flowers & cost of servyces 75.000 21.398 1.640 75,000 21,398 1,640 70.318 14,922 1,464 270 9.227 128 270 9,227 128 127 8,724 59.548 1,255 59,548 1.255 34,889 1,221 168.466 168,466 131,663 Ic} Church managoment & adminlstratlon Printing, stationery & office supplie5 Postage & telephone Verger & cleaning Independent Examinerfs fee Professional fees Bank Charges Sundry Expenses linc. website design) 247 247 214 198 720 330 1,461 720 5,275 21 1.732 1.461 720 5,275 21 1.732 1.622 9.456 9,456 3,084 TOTAL RESOURCES USED £ 177.922 £ 177,922 £ 134,747 DEBTORS 2024 2023 Income tax recoverable VAT recoverable 16.253 16,253 4,660 £ 16,253 £ 20,913 CREDITORS - Duè Wlthln On6 Yèar 2024 2023 Sundry loan Sundry creditors 720 720 £ 720 £ 720
ST ANDREW'S & ST MICHAEL'S CHURCHES, STOCKWELL NOTES TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2024 (Contd.) RESTRICTED FUNDS Church Fabrics Memorial Restricted Restricted Funds Funds Funds Totsl 2024 2023 Balance at 1.1.24 Incoming resources Outgoing resources Transfer to unrestricted funds 69,609 198 1.198 71.005 133,528 146,3031 (46,3031 (62, 5231 BALANCE AT 31.12.24 £ 23.306 £ 198 £1,198 £ 24.702 £ 71,005
INDEPENDENT EXAMINER'S REPORT TO THE PCC OF ST ANDREW'S & ST MICHAEL'S CHURCHES, STOCKWELL This report on the accounts of the PCC for the year ended 31 December 2024, which are set out on pages 1 to 5, is in respect of an examination caffied out under the Church Accounling Regulations 2006 and s.145 of the Charities Act 2011. Respectlve responsibilities of trustees and examiner As the members of the PCC you are responsible for the preparalion of the accounts., you consider that the audit requirement of the Church Accounting Regulations 2006 and section 144 of the Charities Act 2011 (the Act) do not apply. It is my responsibility to issue Ihi5 report on those accounts in accordance with the terms oflhe Regulations. Basis of independent examinerfs report My examination was carried out in accordan with the General Directions given by the Charity Commission under section 146{5){b) of the Act and to be found in the guidance from the CBF. That examination includes a review of the accounling records kept by the PCC and a comparison of the accounts wlih those records. It also includes considering any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audtt. and consequently I do not express an audit opinion on the view given by the accounts. Independent examiner's statement In connection with my examination, no matter has come to my attention: (1) which gives me reasonable cause to believe that in any material respect the requirements to keep accounting records in accordance with section 130 of the Act., and to prepare accounts which accord with the accounting records and to comply with the requirements of the Act, as also contained in the Church Accounting Regulations 2006 have not been met", or (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. ANDREW THURBURN Chartered Accountsnt 38 Tamworth Road Croydon, Surrey CRO 1XU 7 October 2025
ANDREWTHIJRBIJRN & COMPANY Cliarlcred Accou1]tltS VAT No. 452 3363 64 13 October 2025 AJTlgrlS20 Simon Barker Esq. 8 St Michael's Road London SW9 OSL INVOICE NO. 7762 To." Professional Services" Preparing the accounts of St Andrew's and St Michael's Churches Stockwell for the year ended 31 December 2024 and supply of Independent Examiner's Report Various matters from time to time 660.00 Add.. VAT @ 200/0 132.00 £ 792.00 Bank Account Details: Lloyds Bank Sort Code.. 30-96-07 Account No: 00276867 "i-,Ihiwc)Kni R()Af) CTiI)YD(>N.%I'.RREI' CIi() IXI. ITrUThI()N'L OJ)*)) RTrA:L%TTr) F()R Il KINC:L ()F Bi:..SlNLK¢i.IciivlliL IIYTIITr. IN.STlll lTr. ()F CIL.ImJiu) Aif()IThT. .IKPi IN FNC:IAND AND I%'AU'S