THE PAROCHIALCHURCH COUNCIL OFTHE ECCLESIASTICALPARISH OFST
GABRIELIS, WARWICK SQUARE, PIr¥￿LIC0
(Registered Charity Number 1133969)
REPORT APID FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEhtBER 2024

ST GABRIELJS PAROCHIAL CHURCH COUNCIL
FINANCIAL sfATEMEIYTS
VOR THE YEAR ENDED 31 DECEMBER 2024
CONTENTS
PAgeJ
Report of the PCC
i-io
Ind¢pendent Examiner's Report
Statemettt of Financial A¢tiviti¢s
12
Balance Sheet
13
Cash Flow Statement
14
Principal Accounting Policies
15- 17
Notes to th¢ Financial Ststements
18-28

ST GABRIELIS PAROCHIAL CHURCH COUNCIL
REPORT OF THE PCC
FOR THE YEAR KNDED 31 DECEMBKR 2024
REFERENCE AND ADMINISTRATtVE DETAIIS
Full
THE PAROCHtAL CHURCH COUNCtL OF THE
ECCLESIASTICAL PARISH OF ST GABRIBL'S. WARWICK
SQUARE, PNLICO
Worldng Name
ST GABRIBL'S PAROCHIAL CHURCH COUNCIL
Cbarity Reglstratlon Number
1133969
Website
https:IIwww.stgabrielspimlico.com
Prlnclpal Address
30 Warivick Square
London
SWIV 2AD
PCC members who hav¢ seryed from 1st January 2024 until the date of this report ar¢:
Incumbent:
Fr Owen Higgs
Chairn18n
WardeDS:
Caroline Colvin
Vice Chairman
Children's S8feguarding Officer
Deancry Synod Represcntstive
Eleeted members
Guy Cabral
James Farnier
Paul Guinery
Arnor Hakonarson
Peter Lilley
Charles Marshall
Valerie Mi¢hel¢t
Charlotte Nichol
Marcus Perry
Reuben Smith
Antoinette Th¢kwell
(from 14th April, 2024)
Stewardship Offi¢er
(until 14thApril, 2024)
(from 14thApril. 2024)
Adult Safeguarding Officer
Treasurer
(from 14th April, 2024)

ST GABRIEL9S PAROCHIAL CHURCH COUNCIL
RKPORT OF THE PCC
FOR THE YEAR ENDED 31 DECEMBER 2024
REFERENCE A]4D ADMtNISTRATIVE DETAIIS
Bank
HSBC pl¢
The Peak
333 Vauxhall Bridge Road
London
SWIV IEJ
Independent ExAmkner8
George Hay & Company
Chartered A¢countsnts
83 Cambridge Street
Pimlico
London
SWIV4PS
Sollrltors
Winokworth Sherwood LLP
Mtnerva Hous¢
5 Montsgue Close
London
SEI 9BB
Investment Managers
CCLA Investment ManagementLtd
l Angel Lane
London
BC4R3AB
Sarasin & Parthcr5 LLP
Juxon House
100 St. Paul's Churchyard
London
EC4M BBU

ST GABIUEL*S PAROCHIAL CHURCH COUNCIL
REPORT OF THE PCC
FOR THE YEAR EIYDED 31 DECEMBER 2024- eontinued
ADMINISTRATIVE INFORMATION
The Parish Church of St Gabriel is situated in Warwick Square. Pimlico, within the City of Wcstminstsr. The Parish is
part of the Diocese of IA)ndon in the Church of England. The Correspondence address is: 30 Warwick Square London
SWIV 2AD.
STRUCTURE, GOVERNANCE AND MANAGEMENr
The Parochlal Chureh CouBeil (PCC) and obJe¢tlv
The PCC is a charity registered with the Charity Commission. a5 number 1133969. Members 0£ the PCC are either ex
offi¢io or elected by theAnnual Parochial Church Meeting in accordance with the Church Representstion Rules.
The PCC Is a cory)orate body established by the Church ofBngland. The PCC operates undertheParochial Church Powers
Measure (1956) Hs amended. It also has maintenance responsibilities at 66 Warwick Way and 37 Sherdton House.
The PCC has the responsibility of ¢o-operating with the Parish Priest in promoting in the e¢cle5iasti¢al parish the whole
mission of tho Chur¢h', pastoral, evangelistic. social and e¢um¢nical.
Recruitmentto membership of thePCC, whether by election or'ex officio, appointh]enL AS carried out in accordance with
the Church Representstion Rules. PCC members do not receive fornial induction training but, where n¢cessary*
introdu¢ed to their respoDsibilities. The Chur¢hwardens. and others with specific responsibilities for matters requiring
specialist knowlcdg¢, are able to attend training ¢ours¢s offered by th¢ Dio¢es¢ or appropriate external bodies. Reading
matter on relevant lopics is disseminated to PCC m¢mbers.
The PCC operates through the Incumbent assistsd by a nutt)ber of ￿mmIttee5. listed in the Vicar's Report below, which
meet between ￿11 meetings.
PUBLIC BKNEFIT STATEMENT
The PCC confsrni that they have complled with the duty in section 17 of the Charities Act 2011 to hav¢ due regard to the
public ben¢fÉt guidall¢e published by the Charity Commission in detemining the activitics undertaken by the ¢harity.
IUSKASSESSMENT
In common with otherorganisations. the PCC face5 risks: operational. fJnan¢ial and reputational. The PCC has considered
the major areas of risk to which the thur¢h is exposed. measuring both the likelihood and the impact of a particul￿ Bvent
or action. and are satlsfied that systsms have been established to identify and mitigate exposure to the major rAsks.
The key rssk to the PCC has for some time been considered to be the low level of free reserves* partioularly in view of the
platmed expansion of activities and the need to maintsin the fabric of the church premises. Tight budgetary control over
expendi1￿re has been and will ¢ontinue to b¢ maintained.
Mrs Valerie Miohelet and Mrs Caroline Colvin have continued to ensure that the PCC strictly adheres to all rel¢vant
safeguarding legislation. Close attention xs also paid to the implementstion of polioies in regard to health and safety and
to complying with disability discrimination legislation.

sr GABIUELIS PAROCHIAL CHURCH COUNCIL
REPORT OF THE PCC
FOR THE YEAR ENDED 31 DECEIKBER 2024- continued
REVIEW OF THE YEAR AND ACHIEVEMENTS AND PERFORMANCE
learys Re
Commlttees
The PCC has set up the followitig committees whi¢h carry out parti¢ular functions on behalf of the Council:
Slandlng Commlllee
As required by ¢anon law, this oommitt¢¢ hgs power to transaot the business of the PCC between its meetings, subjeot
to any directions given by the Coun¢il. All members of th¢ PCC ar¢ co-opted onto th¢ Standing Committee to enable
meetings to be held when necessary. The Inoumbent (except during the interregnum), a Church Warden and any two
others ¢onstitute the Standing Committe¢.
Flnance Commilleé
The Finance Committee Works with the Incumbent and Treasurcr in managing the fmanccs of the Parish, and in
preparing the Annual Financial Ststements alld budgeL
The Fllendf ofst Gabnels
The Friends of St Gabriels is a committee of the PCC and th¢ Chairnlan (when not amember of the PCC otherwise) is
Co-opted as an ex officio member of the PCC and Standing CommitteD. The Friends iaise money spe¢ifioalRy for the
￿￿1n￿nance and enhancement of the church building.
Mls&lon Commillee
The Mission Committee ¢omprises the VAGar, Wardens, Mission Priest. Youth Leader and su¢h others as may be G8lled
upon to support the Heaven's Gate Mission on behalf of thc P.C.C.
St Gabrielgs Cbllreh of England Primary Sehool
The Parish School is situated on the Churchill Gardens Estate. Under the Title Deed the Vicar and Churchwardens are
trustees of the school's property. The Trnst Dced for th¢ school is held by the London Dio¢esan Board for Schoo15
(LDBS). The incumbent is a governor ex officio. The PCC has the right to appoint two governor8. Currently Mr8
Valerie Mich¢let alld Mr David King are governors.
Chur¢h Attendanee
There were 86 (2023: 112) people on the Church Electoral Roll in 2024. The average Sunday attendance was 95 (2023:
96) of whom about 10 (2023: 11) w¢re under 16. Low Mass has usually been offered daily except Mondays on
weekdays with all attendan¢¢ ranging from 2 to 40. Mass was sung on a number of Holy Days and during Holy Week.
Choral Evensong & Benediction is ¢¢lebrated during terni time and some other Sundays, Youtube hits for our services
ar¢ typi¢ally at le&st the number ofthe physical conwgation.
DurAng 2024 there were 8 (2023: 12) baptisms. 4 (2023: 2) confmations. l (2023: 3) weddingsj and l (2023.. 1)
wedding ble53ings after a oivil marriage. D¢tsils of Christmas. Easter and Patronal s¢rvices were di8tributcd to
properties iti the paTiSh.
Partsh Report
Throughout 2024 St Gabriel's continued to be blessed with faithful service and. in particular. the embedding of new
mission developments. Jacqueline Brown's Youth Work was supported by th¢ affival of L￿hlan Maolean, our Lay
Worker, in September. We maintained our worship of God. with the support of faithful altar seryers, notsbly Jamcs
Farnier, Simon Guppy¥ Monica Sanchez, and Colin Taylor. David King. Director of Music, and James Day our
Choirn]ast¢r continu¢ to be at the ¢entre of our musical life. Ryan Ni¢hol and Marcus Perry have helped throughout the
year with the webcast of services. David King and Marcus Perry have both given tireles5 and much appreciated support
through the locking up of the church building after our increased number of con¢erts. We thank Julie Anderson for her
work of admini8Éering the building,
Th¢ majority of the drainage works were completed this ycar. We have begun thc work of fundraising for the next stage
of essential vmrks, that is to replace th¢ roof Slates and th¢ r¢maining ¢offoded ston¢.

ST GABRIELgS PAROCHIAL CHURCH COUNCIL
REPORT OF THE PCC
FOR THE YEAR ENDED 31 DECEMBER 2024- ¢onÉlnued
REVIEW OF THE YEAR AND ACHIEVEMENfs AND PERFORMANCE
Vicar's Re
ort - continued
None of this is possible without the support of our congregation and, above all, of the P.C.C. and the Church w￿den,
We are very gratethl to Reuben Smith for his work as Treasurer and io James Fanner for his work on Stewardship) for
Caroline Colvin and Valerie Michelet for their safeguarding work, and to Carollne Colvin for her continued work as
Warden.
For them all and for His continued blessings we thank God.
Fr Owen Higgs
Yicur
rle
huTch of En
land P
School
Chxldren at St Gabriel's Primary School Come from an area of predominantly high deprivation. 350/0 of the pupils in our
school have English as an additional languagc and 25% of our pupi15 ￿¢ White British, with other main ethnicities
being Arab, Black African, and 'any other mixed, background. Our s¢hool community is made up of a mix of religions,
with just over 41 % Muslim and 37.40/0 Christtan. The number of children classed as disadvantaged continues to be
signifIcantly above the national averag¢ with 41.40/0 of ow pupils on free 5¢hool meals compared to a natlonal figure of
25.90/0. Our pupils com¢ predominantly fiDm the Chur¢hill Gardens Estate, however we also have PUPAIS from a wider
catclllnent. and increasingly fKom across the river. W¢ also have a high number of Children with either current or
hxstorical sooial sorvices ellgagement. In th¢ past 2years we hav¢ seen increasing numbers of children with SEN
attending St Gabriel's, Their needs rang¢ from mild to moderate learning needs (requiring differentiation of the
ourrioulum ond additional interventions to support their learning) to children who are high need, requiring l.,1 adult
support and who fmd it difficult to stay in the Qlassroom for any extended periods of time. We pride ourselves on our
ittclusivity and work closely with outside agencies. to ensure the best support possibIe for our pupils with SEN.
Despite our school community being faced with many barriers to Icarning* St Gabriel's pupils have alway8 achieved
well and made outstanding progress.
Central London continues to face a fall in pupil numbers and in Weslminster so far, 18 fonns of enty are due to have
been closed by the end of 2026. These closures are either from 2 or 3 forni enty schools going dovm to I fomi enty
schools, other oaps on pupil numbers, or from whole s¢hool closures or amalgamations (e.g. the merger of Churchill
Gardens School and Millbank School. resulting in the closure of the Churchill Gdns School site). Despite this,
fortunately St Gabriel's pupil numbers are bucking this trend and have risen from 161 in Oot 2023 to 179 now on roll.
We are projected to be around th¢ 190 mark next academic year. The majority of pa￿nts say that they chose to send
their ¢htld(ren) to St Gabriel's duc to our good reputation, thc exemplary behaviour of th¢ Children, good acadcmio
results and strong established Christian ethos.
Excellence with Compassion ￿ntinUeS to be at thc heart of all we do at St Gabriel's.
For tbe last 2 consecutive years, our end of K¢y Stage 2 attainment has been much higher than the national average. Our
hildren a¢hiev¢d higher than the national averag¢ in reading. writing and maihs. This year. we have endeavoured to
take our pupils on more interschool sports competitions, and have continued to plan trips a¢ross the curriculum to
enhance our provision. Wc have also enjoyed re¢¢iving nmny visitors this year. including: locol historians, scientists, a
fabulous organist (and an incredible organ1)> police workshops, drugs And gangs workshops, and through our
parthership with the PMF our ¢hildrcn havc b¢fitt¢d hugely from developing their musical skills, understanding and
knowledge.

ST CABRIEL9S PAROCHIAL CHURCH COIJNCIL
REPORT OFTHE PCC
FOR THE YEAR ENDED 31 DECEMBER 2024- conthiued
REVIEW OF THE YEARAND ACHIEVEMENTSAND PERFORMANCE
St Gabriel*s Church of En
land Prima
School- eontlnued
In addition to ac&demi¢ su¢¢ess, personal, sooial and emotional development is also a priority at St Gabriel's. This year
we have continued b partner with MtND (the mental h¢alth team) and continue to re¢eive support from St Vincent
Family Project, who provide art therapy for children who may need additional support. This year, the local authority
have also provided every SGhool with a family navigator. Their rol¢ is to support parents with tbe advice and support
which goes beyond the sohool gate5. which we are not always able to support with, or know the answers to, For
example just a few of the ar¢as of support they can give families includes with housing, parentin& fmancial support and
healthcare.
Rebeeca Anson
St Gabrieljs CofE Prlmary School
HeAdteacher
lells Youtb
With the support of the PCC and in parlnership with the Parish House Th￿l St GabrAel's Youth has Continued to support
the young vujnerablc teenagers on Churchill Gardens Estate. Wc have been instrumental in working wAth Westminster
Council for community cohesion and ¢ollaboration. When there have been conflicts. we were called to m¢diate and
persuade strategic Community members to wntinue in th¢ Communitymeet and Eat proposal. This particular project took
nine months of meelings, talkin& and negotiating. We Spoke with residents, Westminster City Council, contraotors, sub-
contractors and Third S¢¢tor organisations to execute a big afternoon of a t1￿¢e-Street Intergenerational Community Paty
where the Mayor was in attendance.
We supported the Metropolitan Polic¢, who request¢d that we come to their training college and give a presentation on
Better Community Policing. It is to be noted in this report that community poli¢e Suryeillall￿ has gone done in Churchill
Gardens Estate 2024 due to funding.
We supported one group of community mums becoming a Ctc in the community. this has given value to what they do in
2024. St Gabriel's Youth project has facilitated two mal6 young leaders with additional needs through the Jack Petchy
Awards scheme. Thoir value and confidence have risen over the last year. Their input in setting up, giving ideas, and
supporting the mission in pmviding a saf¢ space fortheir pecr5 is invaluable. 2024 St Gabricl's Youth Awarded ton young
people for their efforts in the Youth Project.
Jacquellne Brown,
Youth Leader
riends o
Gabriel9s R ort
Membership of the l¥rAends at the end of the year stood at 77.
There were no Friends fundraising activities during the year and the overall amount raised by the Friends sitice they were
founded remains at £193,128.
Bxpenditure from Friends fimds on the Church fabric and on fixtures and fith]ents during the ycar was £1,911.
Friends funds currently amount to around £74,529.
Fr Owen Hlggs
P7car

ST GABIUEL9S PAROCHIAL CHURCH COUNCIL
REPORT OF THE PCC
FOR THE YEAR ENDED 31 DECEMBER 2024- contillued
REVtEW OF THE YEAR AND ACH[EVEME1￿sAND PERFORMANCE- eontlnued
warden*s Re ort
We received an anonymous donatton of robes and now worn every Sunday by thc choir and organist, which not only
look very Smart but are generally felt to havo increased team SPlTAt.
There were no major internal works undertaken in the church this year but w¢ are still waiting for Universal Stone to
compl¢te the following: drainag¢ in the South Garden. repairs to thc Church boundary railings, making good the ar¢A
around the siThk dnd the prepaTatory work for fundraising on the roof. now estimated at £1.5 million.
Carollne Colvln
Churehwarden

ST GABRIEL'S PAROCHIAL CHURCH COUNCIL
REPORT OF THE PCC
FOR THE YEAR ENDED 31 DECEMBER 2024- coutillued
FINANCiAL REVIEW- TREASURER?S RKPORT AND FINANCIAL STATEMENTS
I am pleased to report that the Church has returned to generating a net gurplus of funds for the year and has also exceeded
its tsrget income for the year, albeit this is low￿ than prior year in¢ome, which included a substantial grant for repairs
and renovations to the building of tbe church.
The net gains l Uosses) on the various funds after investment gains l (105s¢s) and depreciation were as follows:
Total
Unr¢stri¢ted
Funds
Totsl
Restricted
Fund
General
Fund
Desi8natsd
Fund
Overall
Total
31 Deeember 2024
3,011
8.218
11.229
14,778
26,007
31 De¢ember 2023
23,332
(20.340
2,986
15,225
18.211
Stewardship giving wa8 significatttly in¢reased in the year at £39,359 (2023: £38,291), with the Stewardship campaign
in the year clearly having an effect. The Church is extremely gratcful to all those who regularly support its activitl¢s. Gift
Aid is reclaimed quarterly to improve Cashflow. and credit is due to James Farnier for his work in this area. Income from
hire of the ¢hurth and vesty hall hav¢ also improved markedly at £63.850 (2023: £56.183).
The contribution to the Diocesan Common Fund was increased during the year, and in total amounted to £60,000 (2023:
£59,167). This figure r¢presents a discount onthe standard CommonFundRate s¢tby the London Dio¢esallFund (L.DJl.)
for a 'slngle Vicar cost, (i.¢., direot clergy Cost plus central costs). The aspiration ofthe PCC remains to pay the Common
Fund ¢ontribution in full, onrK this can b¢ a¢hi¢ved subject to the fmancial constraints which the Church f￿S on its
General Resorves.
Expenditure on Ch￿ilable activities ha5 decreased compared to prior year at £227,595 (2023.. £378,101). The Church
continues to priorili5e fimding of music provision, which amounted to £30.622 in the year (2023.. £28,552). We believe
that the music at St. Gabriel's enhances and raises our w0￿￿1p.
Movements on Restrictsd funds ar¢ set out in Note 16 and theaggregate by the end of December 2024 was £154.8k (2023:
£140.Ok}.
I would like to take this opportunity to thank Julie Anderson for managing the lettings of the vestry hall and church
building> as well fts liaising with suppliets and theDioce5& Caroline Colvin. Terry Crowe and Marcus Perry also deserye
thanks for the regular counting of collections and eThsuring they are banked cxpeditiously.
Finally, I would like to express my appre¢iation to GeorgeHay & Company* who havo assisted inthe preparation ofth¢se
fmanciai ststements.
Reuben STr￿¢h
Treafurer

sr GABRIEL'S PAROCHIAL CHURCH COUNCIL
REPORT OF THE PCC
FOR THE YEAR ENDED 31 DECEMBER 2024- ¢onthiued
RESERIQS POLICY
It is the policy of the PCC ty to rebuild th¢ reserves in the General Fund. At the end of the year. the General Fund stood
at £8,753 (2023: £5,742) which is below the desired level and refleots the ongoing recovery from the impact of the
Coronavirus pandemic. The PCC will kccp the poli¢y under review in the light of the devcloping economic 5itu&tAon.
The Ellis Icgacyg with an original value of £1.274.504 (2003: £1.299.180), was bequeathed in 2019 to the Vicar and
Churchwardens of St Gabriel's Chur¢h for religÈous and charitable p￿￿oSeS in the parish as approved by the PCC, had
been fully received by Ihe ye8Tr¢nd. Included within the legacy was a leasehold property with art estimated value of
£500,000 (refer note 10), WAth the balance of the legacy being fmancial investments.
The PCC has de¢ided that the legacy will be used a5 a designated fund from which investment income is applied in the
rtberan¢e of the PCC'S objectives in the parish, and capital expenditure from the ￿nd will be used to support major
projects, as agreed by thc PCC. Such expenditure WAII generally not bc u5¢d to cover tb¢ entire cost of any suoh project,
but as a contribution alongside which financial support will continue to be sought from other sources.
INVESTMENT POLICY AND PERFORMANCE
Ittvestments held atthe start ofthe yearhad been placed in a unitised fund with the Central Board ofFinance ofthe Church
of England, a division of CCLA Investment Management. During the year Sarasin & Partners LLP, a speoialist charAty
fimd management fjrni, continued to manage the fi]nds of £715k from th¢ Bllis Legacy (see above) transferred to them in
2020, again usiag a unitised fund. The inv¢slm¢nt poli¢y is in line with chU￿h of England te&¢hing, The PCC'S
investment objectives are to achieve capxtal growth in the longer terni, (five to ten y¢ars), preserve ¢apktal value in r¢al
ternis, and generate a growing income over time. It is intended that the fund helps to support the major capitsl projects
required for the Tenewal of the ¢hur¢h building. Since the cost of that renewal is consid¢rably more than the legaGy> It is
anticipated that the legacy will be spent largely, if not entirely. on those works
In 2024, the investments gave a totsl return (Gapitsl gait)s plus income) of 6.87Yo (2023: 6.7%) which was mal]hly due to
the economi¢ climate. The PCC are ther¢fore satisfied with the perfomwice generated.
VOLUNTEERS
The PCC would like to thank all the volunteers who work so hard to make St Gabriel's su¢h a lively and vibrant
community. It would be invxdious to ty to thattk everybody who bas supported St Gabriel's over the pastyear, given that
there are so many people who contribute to parish life. However particular thanks to Certain individu&ls are expressed in
the Vicar's report above.
KEY MANAGEMENT REMUNERATION
The PCC consider the key management of the charity consists of themselves and in particular th¢ Jncumbent (who Is
Chair of th¢ PCC) and various sub-committees to whom th¢ running of day-to-day operations d¢volve5,
The remuneration of clergy and the level at which xt is set, is deternlined by the Church of England according to national
pay scales. Its payment is the responsibility of the Diocesan Board of Finance.

ST GABRIEL)S PAROCHIAL CHURCH COUNCIL
REPORT OFTHE PCC
FOR THE YEAR ENDED 31 DECEMBER 2024- conlinued
PLANS FOR FUTiJRE PERIODS
Future plans are to raise funds for repairs to th¢ roof, the commencement date of the repairs will be detennined in due
course.
STATEMENT OF TRUSTEES, RESPONSIBILITIES
Th¢ pccifrust¢es are responsible for preparing the T￿ste¢S, Report and the financial statements in accoi'dance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the pccifrustees to prepar¢ financial statements for each
fjnancial year which give a trne and fair view of the state of affairs of th¢ charity and of th¢ incoming resources and
application of resources of the charity for that period. In preparing these f￿anCIal statements, the trustees are required
Select suitable accounting policies and apply them consistentEy;
Observe the methods and principles in the Charities SOIiP;
Make judgements and estimates that are reasonable and prndent.
State whether applicable UK Accounting Standards have been followed, subject to any material depar￿reS
disclosed and explained in the fmancKal statement. and
Adopt the going concern basis unless it is inappropriate to presume that the charity will continue on that basis.
The PCCITrust¢es are responsible for keeping proper accounting records that disclose with reasonable accuracy at any
time the f￿ancial position of the charity and enable them to ensure that the fmancial statements comply with the Charitie5
Act 2011 and the provisions of the trust de¢d. They are also responsible foi safeguarding the assets of the charity and
hence for tsking reasonable st¢ps for the prevention and detection of fraud and other Irregulariti￿.
Approved by the PCC on 5th June 2025 and signed on Iheir behalf by:
Fr Owen Higgs
10

INDEPXNDENT EXAMINER>S REPORT
TO THE TRUSTEES OF ST GABRIELIS PAROCHIAL CHURCH COUNCIL
I report to tILe PCC, as tn)stces of the Charity, on my examination of the fman¢ial statements of the PCC for the year ended
31 December 2024 which Lx)mpris¢ the Balanc¢ Sheet, the Statement of Finattcial Activities, the Cash Flow Ststement
and Related Notes.
This report is made solely to the charity's trustee5. as a body, tn accordan¢e with Se¢tion 145 of the Charities Act 2011.
My work has been undertaken so that I might state to the ¢harity'S Irustees those matters I am required to state to them in
this report and for no other purpose. To the fijllest cxtent pern)itted by law, I do not accept or assum¢ responsibility to
anyone other than the charity and the charity's trustees as a body, for my work, for this report, or for thc opinion8 1 have
fornied.
Respective Re5ponslbllitles of Truste￿ and ExamlDer
As members of the PCC, and therefore the trnstees of the ¢haTity. you ar¢ responsible for the preparation of the fmanoial
statements in accordance with the Church Accounting Rcgulations 2006 ("th¢ Regulations) and section 145 of the
CharÉties A¢t 2011 ("the 2011 Act,).
I report In respect of my examination ofth¢ PCC'S fmancial statements carried out under the Regulations and section 145
of the 2011 Act and in carrying out my examination I have followed all the applicable dir¢cttons given by the Charity
Commission under seotion 145(5)(b) of the ACL
Basls of Illdepend¢nt Examlner98 Report
An independent examination does not involve gathering all the evidence that would be required in an audit and
nsequently does not Cover all the matters that an auditor ¢onsiders in giving th¢ir opinion on the financial slatsments.
The platthll￿ and ¢ondu¢t of an audit goes beyond the limited assurance that an independent examination Can provide,
Consequently l Bxpress no opinion as to whether the financial statements pres¢nt a 'tN¢ and fair, view and my report is
limited to those spcaific matters set out in the Independent Examiner's Statement.
As pennitted by Direction 2, issued by th¢ Charity Commission, the fllm for which I work has provided the oharity with
bookkeeping services during the yeAr ended 31 December 2024. As a ¢onsequcnc4 I have followed the requirement of
th¢ FRC'S Ethical Standard when undertaking this assignmcnt.
Independent Examlnor's Statement
Stnce the PCCS gross income exc¢eded £250,000 your examincr must be a member of a body listed in section 145 of tho
2011 Act. I confwm that l am qualified to undertake the examination because I am a member of ICAEW, whi¢h is one of
the listed bodies.
I have completed my examination. I confm that no material matter5 have come to my attention in ¢onneotion with the
examination giving me Cause to believe that in any material respect:
(l) accounting records were not kept in resped of th¢ PCC as required by section 130 of th¢ Acl or
(2) tho fittancial statements do not accord with those records; or
(3) the f￿ancIal statements do not wmply with th¢ applicablc r¢quir¢ments wn¢erning the forni and content ofthe
accounts set out in the Regulations and the Charities (A¢¢ounts and R¢ports) Regulations 2008 othcr than any
requirement that the financiaI statements gsve a'lrne and fair vi¢w' which is not a matter considered as part of
an independent examination.
I have no wn¢em8 and have comc across no other matters in ￿nneCtiOn wxth my wmination to which attention should
b¢ drawn fft this report in order to enable a proper understanding of the fmancial statsments to be reached.
Andrew P C Fox FCA
George Hay & Company
83 Cambridge Street
Pimlico
London
SWIV 4PS
0510612025
li

ST GABRIEL9S PAROCHIAL CHURCH COUNCIL
STATEMENT OF FINANCIALAcfTVITIES
FOR THE YEAR ENDED 31 DECEMBKR 2024
UDTestActed Restricted Elldowm¢nt
futtds
fund8
fund
TotAI
2024
Total
2023
Note
Income from
Donations and legacies
56.941
37.943
94,884
138,340
Charitable activities
726
726
6,438
Trading aotivities
137.644
137,644
129.669
Inv¢stments & bank deposits
14.989
14.989
11,660
Total Income
210,300
37.943
248,243
286,107
Expendltur¢ on
Raising funds
8.800
8.800
1,887
Charltable activities
204270
23,326
227,596
278.101
Total Expenditure
213,070
23,326
236,396
279,988
IY¢t incomel(expenditure)
before gAlns on Investments
(2,770)
14,617
11,847
6,119
Realised (lossygain on
inve8lm¢ntg
289
289
(14,329)
Unrealtsed gain/(loss) on
inv¢slJn¢nts
li
13,710
161
13,871
26,421
Net MoYeLuent In Funds
11829
11778
26,007
18,211
Transfer
Funds at l January
857,706
140.051
475,000
1,472,757
1,454.546
Funds at 31 December
868,935
154,829
475,000
1,498,764
1,472,757
The notes on pages 18 to 28 forn] part of these f]nanGial statem¢nts.
12-

ST GABRJEL>S PAROCHIAL CHURCH COUNCIL
BALANCE SHEKT
AS AT 31 DECEMBER 2024
Unrestricted
funds
Restrleted
funds
Endowment
fund
Total
2024
Total
2023
Not¢
Tangible fixed assets
Investtnents
io
503,673
327,497
475,000
978,673
334,683
976,355
298228
7,186
831,170
7,186
475,000
1,313,356
1,274,583
Current Assets
Debtors
Cash at bank and in hand
12
26,314
30,960
1,883
145,760
28,197
176,720
17,805
205,767
57,274
147,643
204,917
223,572
Creditors - Amounts
falling du¢ within one year
13
(19,509)
(19.509)
(25,398)
Net CurrentAs5ets
37,765
147.643
185,408
198,174
NET ASSETS
868,935
154.829
475,000
1,498,764
1,472,757
FUNDS
General Funds
Unrestricted Funds
Designated Funds
14
15
8,753
860,182
8,753
860,182
5,742
851,964
Restricted Funds
16
154,829
154,829
140,051
Endowment
17
475,000
475,000
475,000
868,935
154,829
475,000
1,498,764
1,472,757
Approved by the Parochial Church Council on 5 Jun¢ 2025 and signed on its behalf by
Fr Owen Higgs
Chairman
The notes on pages 18 to 28 fonn part of these fmancial statements.
13

ST GABRIEL*S PAROCHIAL CHURCH COUNCIL
CASH FLOW STATEMEIYT
FOR THE YEAR ENDED 31 DECEMBER 2024
2024
2023
Cash flows from OperallnE A¢tlvltl¢s
Net cash (outflowyinflow froml(used in) operating activities
(17.808)
(10,961)
Cash flows from Investlng aetivltles
Divldends and interest
Payments to acquire r￿ed asscts
Proceeds from sales of invesknents
Payments to acquire investments
14.989
(3.644)
7,291
(29.875)
11,660
(428)
84.349
(26,136)
Iyet Cash provlded by InYe8tlng actlvltl¢8
11,239
69.445
Change In cash And cash equlvalents fin yeAr
(29,047)
58,484
Cash and oash equivalents at l January 2024
205,767
147,283
Cash and cash equivalents at 31 De¢¢mber 2024
£176,720
£20S,767
Notes to the Cash Flow Statement
A. Reeonciliatlon of net movement fin funds to net casb flow from operating actlvfities
2024
2023
Iyet movement An funds (as per the Stst¢m¢nt ofFfinanelal Activities)
Adjustments for
Unrealised (gainsylosses on invcstments
Dividends and intsrest from investments
Depreciation
Non-cash assets received by way of legacy
Decrease l Uncrease) in debtors
(D￿reaSe) I Increase in creditors
26,007
18,211
(13,871)
(14,989)
1,326
(26,421)
(11,660)
452
(10,392)
(5,889)
(874)
9,331
Net Cash from l (used fin) operAting aetlvltl
(17,808)
(10.961)
B. Analys18 of cash And Cash equivalents
Cash at bank and in hand
176,720
205,767
Total cash and cash equivY41¢nts
£176,720
£205,767
C. Reconcll141ton of Net CAsb
Atl
J8lluAry
2024
At31
December
2024
Cash flows
Otber non-
eash change5
Cash and cash equivalents
Cash at bank
205.767
(29,047)
176,720
£205,767
£(29,047)
£176,720
Total
14-

ST GABRIELIS PAROCHIAL CIIURCH COUNCIL
PRINCIPALACCOiJf4TING POLICIES
FOR THE YEAR RNDED 31 DECEMBER 2024
BaJft8 ofpr¢pAratlon
The fmancial statements are those of the PCC (prlncipal address: 30 Warwick Square, London, SWIV 2AD) as a
standalone entity, They have been prepared for the year ended 31 December 2024. Comparative infonnation is
provided in respect of the year ended 31 December 2023.
The fthancial statements have b¢¢n prepared under thc historical cost convention with items re¢ognised at cost or
transaction value unless otherwis¢ stated in the relevant accounting polioi¢s below or the notes to these fmancial
statements.
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement
ofRecommended Practi¢¢ applicable to charities preparing their finan¢ial statements in accordart¢e with theFxnancial
Reporting Standard applicable in the United Kingdom and R¢publi¢ of Ireland (CharÈties SORP FRS 102- effective
January 2019), Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the
Charities Act 201 I.
The charity constithtes a public benefit entity as defined by FRS 102.
The fthancial statements ar¢ presented in sterling and are rounded to the ncArest pound.
Seope of tbe finanelal statements
Whilst the PCC is the Collective trustee of St Gabricl's Parish House (registered charity numbsr 1114216). these
fInancial statsments do not consolidate the results and assets of St Gabriel's Parish House on the basis that the PCC is
unable to derive dir¢ct finanoial benefit from the assets held by St Gabriel's Parish House. The Thist Deed of St
Gabriel's Parish Hous¢ means that, while the PCC is the collc¢tive tn]stee, it has no controlling powers to decide
how an asset of St Gabriel's Parish House is used or whether an asset can be sold and funds distributed. Under the
Charities SORP where such severe long tcrnj restrictions exist, the entity in quc5tion Can be ¢x¢luded from
Consolidation. Therefore, these fllwicial stat¢m¢nts reflect the finances of th¢ PCC as a standalone entity.
Crllleal aeeounting e8tlmates and areas of judgement
Preparation of the fmancial statements requires the trnstees and management to make significant judgements and
estimatw.
The iterns in the fthan¢ial statements where these judgements and estimates have been mad¢ in¢lud¢:
the estimated residual valuc alld useful eLx)nomic lives attributed to tangible fixed assets used to detennine
the annual d¢pre¢iation charg¢, Af any:
the assumptions adopted by the trvstees in d¢t¢rniining the value of any designations required from the
charity's general unrestricted funds. and
assessing the probability ofth¢ receipt of legacy inL¥)m¢ and estimating the amount to be received.
Fullds
GÈneral unreslrleledfuxds represont the funds of the PCC that ar¢ not subje¢t to any r¢striations regarding tbeir use
and are available for application on the general puwes ofthe PCC. Funds may be designated for a particular purpose
by the PCC and are also unr¢stricted.
Reslrlcledfunds ar¢ monies rpxeived subject to specific conditions imposed by donors, or by the ternis of th appeal,
as to how they may be used. Any balance remaining unspent at the end of a year is carried fonvard as a balanoe on
that fund.
rhe Endowment Fund is r¢pr¢sentcd by a leas¢hold property, which must b¢ used in a￿Ordance within certain
restriGtions imposed by the DAo¢ese. Any income generated by the endowed ￿Sets may be uscd for the general
Putposos of the PCC and is thus ¢redited to unrestricted funds.
15-

ST GABRIELJS PAROCHIAL CHURCH COUNCIL
PRINCIPALACCOUNTING POLICIES- eontlnued
FOR THE YEAR ENDED 31 DECEMBER 2024
Income
Volunlary Income
Planned giving) collections and donations are recoguised vknen received by or on behalf of the PCC. Planned giving
receivable under covenant is re￿gniSed only when received. Income tax recoverable on gift aid donations is recognised
when the income is recognised. Monies which hav¢ b¢¢n donated to meet commitments of a future period are carried
forward in the balance sheet as deferred incom¢.
Legacies are included in the $lat¢ment of finanoial a¢tivities when the PCC is entitled to the lega¢y> the exeoutors hav¢
established that th¢re are sufficient surplus assets in the estate to pay Ihe lega¢y• and any conditions attached to the legaGy
are within the control of th¢ Charity.
Bntitlement is taken as the earlier of the date on which either: the PCC is aware that probate has been granted, the estate
has been finalised and notification has been made by the cxe¢utor to the charity that a distribution will be made, or when
a distribution is re¢eived from the estats. Receipt of a lega￿. in whole or in part, is only considered probable when the
amount can be measured reliably and the charlty has been notified of the executor's intsntion to make a distribution.
Where legacies have been notified to the PCC, or the PCC is &war¢ of the granting of probate but the critsria for in¢Dme
re¢ognition have not been met, then the legacy is treated as a Contingent as5Ct and disc105ed if material. In the event that
the gift is in the forni of an asset othcr than cash or a financial asset traded on a recognised stock exchange, recognition
is subject to the value of the 8ift being teliably measurable with a degree of reasonable accuracy and the title of the asset
having being transfe￿ed to the charity.
Donations in kind are rew8nised when th¢ PCC has ¢onfm¢d botb the intsntion of thc donor to make the gift and the
amount receivable. In a￿ordan￿ with the Charitics SORP FRS 101 volunteer time is not recognised.
Incomefrom chorlluble adivlti
This includes parochial fees due to th¢ PCC for weddings, fi]nerals and oth¢r paro¢hial activAties, Such income is
accounted for on an ovent-by-ev¢nt basis and is only recognised once the event has tak¢n place.
Ineomefrom tradlng aclivilies
This mcludes r¢ntsl in¢ome arising from the letting of prop¢rties held primarily for charitsble use but which are
tsmporarily surplus to operational requirements. Rental income from the hire of the churth building attd vesty hall is
also inGluded within this category.
Invaylment income
Investment income and bank interest are accounted for when receivable. Any tax recoverable on such in¢ome is
recognised in the same accounting year.
Expenditure
Liabilities and costs are recogniscd as expenditure as soon ￿ there is a legal or constructive obligation committing the
Chwch to make a paymentto a third paty, it is probable that a transfer of economi¢ benefits wxll be required in settlement
and the amount of th¢ obligation can be m¢&8ured reliably.
Costs of ralslngfunds
These Costs comprise the costs asso¢iat¢d with attracting income and the costs of trading for fundraising purposes. They
include the costs of maintsining the leas¢hold property whi¢h is currently let.
Costs of charllable acllvltl£y
These represent costs in support of the church's main objectives and are generally re¢ognised as they becomo due for
payment. Grants and donations are account¢d for when paid over or when awarded if that creates a binding obligation on
th¢ PCC. All ¢xpenditur¢ is stated in¢lusiv¢ of irrccovexabIe VAT.
16-

ST GABRIELJS PAROCHIAL CHURCH COUNCIL
PRINCIPALACCOiNTING POLICIES- continued
FOR THE YEAR ENDED 31 DECEMBER 2024
Expenditure (eontlnued)
Supporl costs
Support costs represent indirect charitabl¢ expenditure. In order to carry out Ihe primary purposes of the ¢harity it is
necessary to provide support in the form of personncl and administrative functions. Support Costs are apportioned to
charitable aotivilies on the basis of estimated usag¢.
Employment benefits, including holiday pays arerecognised in the period tn which they ar¢ earned. Terniination benefits
are recognised in the period in which the decisÈon is made and communicated to the relevant ¢mployee(s),
Tangible r￿ed assets
Consecraled landand buildings alldmoveable churchlurntshlngs
Consecrated and beneficed property of any kind is ¢x¢lud¢d from the fman¢ial ststements by SIO of the Charities Act
201 l. As a resulL the church and the vicarage are not reflected in the fJn8ncial stat¢m¢nts.
No value is placed on moveable church ￿rnIshIngS held by the vicar and ¢hurchwardeDS on special trnst for the PCC
artd which requir¢ a fa¢ulty for disposal. These constitute inalienable propety and are listed in the Church's inventory.
Olher land and bulldlngs
Other land and buildings held on behalf of the PCC, for its own pU￿05¢s. are included in the financial statements at
08t less any accumulated depreciation.
Leasehold properiios are owned. They arc, in the opinion ofthe PCQ non-specialised propertiw designed as, and uscd
wholly or mainly for, privat¢ residential accommodation.
No dcpreciation is charged in respect of the5c properties. The properties. value and condition are rcvA¢wed annually by
the PCC, who are satisfled that their residual values ar¢ not mat¢rially less than their respective book values. Both
properties are currently surplus to th¢ ¢h8ritable requir¢m¢nts of the PCC, and thus l¢t. The assets are classified as
held for charÉtable use. this being the primary pury)os¢ for which they have been acquiredlare held. Rentsl income
arising is iThcluded underJp2comefrom TrathngAclivili¢s in accordanGc with SORP para￿aph 4.36,
OfherfLxfures,flttlngs andofJ7ce equlpmenl
Equipment acquired for use within the churth premiscs is dep￿lated over four to fAve years on a redu¢ing balance
basis. Individual items of equipm¢nt with a purchase price of £1,000 or Ics5 is written off in the period in which the
asset is acquired.
Investment8
Fixed asset investments ar¢ stated at their market value at the balance sh¢et date. The Statemcnt of Financial Activities
ther¢fore includes the net gains and loss¢s on revaluatio￿ as well as those on disposals made during the year.
Listed investsnents are a forni of basi¢ financial instrument and are initially reC￿gnISed at thelr transaGtion value and
subsequently measured at their fair valu¢ as at the balance sheet dat¢ using the closing quoted market price.
The ¢harAty does not acquire put options, derivatives orother complex fmancial instruments.
Penslon scheme8
A defmed contribution s¢hemo is available ftir lay staff. Contributions in respeot of the defined contribution pension
scheme are charged to the Statement of Financial Activities when they are payable to the scheme, The ohurch's
Contributions are limited to the ¢ontributions disclosed in note 7. There were no outstsnding contributions at the year
end. The church has no liability beyond making its contributions and paying acN)ss the deductions for the employees,
contributions.
FlnaneiAI Instruments
The charity only has fmancial assets and fmancial liabilities of a kind that qualify os basic financial instruments. Basic
fthancial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
17-

ST GABRIELPS PAROCHIAL CHURCH COUNCIL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
DONATIONS AND LEGACIES
Unrestricted
Funds
Restricted
Funds
Totsl
2024
Total
2023
Steivardsldp
Planned giving - stewardship schem¢
Other gifts and donations
Gift Aid tsx recovered
39,359
7,450
10.132
39,359
20,854
10,132
38,291
9,573
13,953
13.404
Total Christian stewardship
56,941
13.404
70,345
61,817
Frlends of St Gabrlell
Subscriptions
Donations
Gift Aid recovered
240
1,500
loo
240
1,500
loo
290
7,965
227
Total Friend5 of St Gabriel's
1,840
1,840
8,482
Grants and Legacles
Mission Fund- Other gifis & donatiOAL
Misslon Fund- Grants from Parish House
Youth Mission Grants
Archbishop's Cow)cil grant
Legacies
1.000
6.799
14.900
1,000
6,799
14,900
3,990
14,070
39,223
10,758
Total Grants and Legacies
22,699
22,699
68,041
£56,941
£37.943
£94,884
£138,340
18-

ST GABRIEL'S PAROCHIAL CHURCH COUNCIL
NOTES TO THE F]NANCIALSTATEMENTS- continued
FOR THE YEAR ENDED 31 DECEMBKR 2024
DONATIONS AND LEGACIES (continued)
Year end¢d 31 December 2023
Unrestrl¢t¢d
Funds
R￿trIcted
Fullds
Total
2023
Stewardship
Planned givillg- stcwardship s¢hem¢
Other gitls and donations
Gift Aid tax recovered
38,291
7,296
13,953
38,291
9,573
13,953
2,277
Total Christian st¢wardship
59,540
2,277
61,817
Frl¢nds of St Gabrlel's
Subscriptions
Donations
Gift Aid r¢covcred
290
7,965
227
290
7,965
227
Totsl Friends of St Gabriel's
8,482
8,482
Grants and LegAeles
Mission Fund- Other gifts & donations
Mission Fund- Grants from Parish House
Archbxshop'8 Coun¢xl grant
Legacies
3,990
14,070
3,990
14,070
39,223
10,758
39,223
10,758
Total Grants and Legacies
49.981
18,060
68,041
£109,521
£28,819
£138,340
19-

ST GABRIELJS PAROCHIAL CHURCH COUNCIL
NOTES TO THE FINANCIALSTATEMENTS- continued
FOR THK YEAR ENDKD 31 DECKMBER 2024
2. INCOME FROM CHARrrABLE AcfIvITIES
UDrestrleted
Funds
Restricted
Funds
Total
2024
TotAI
2023
Income from weddings, funerals & baptisms
Income from other servic¢s
726
6,438
£726
£726
£6,438
Year ended 31 Deeember 2023
Unrestrleted
Funds
RestrReted
Funds
Total
2023
tncome from weddings, funerals & baptisms
Income from other seTvi¢es
6.438
6.438
£6.438
£6.438
3. INCOME FROM TRADING A(￿1VITIEs
Unrestrieted Restrleted
Funds
Fullds
Totsl
2024
Total
2023
Rental incomts
Rentsl incorne from 37 Sheraton House
Hir¢ of church & vesty hall
Concerts and music re¢itals
51,544
22,250
63,850
51,544
22,250
63.850
52,256
16,230
56,183
5,000
£137,644
£137,644
£129,669
Y¢ar ended 31 De¢ember 2023
Unrestrl¢ted
Funds
Restrlcted
Funds
Total
2023
Rentsl incom
Rental Income from 37 Sheraton House
Hir¢ of chur¢h & vesty hall
Concerts and music recitsls
52.256
16.230
56.183
5.000
52,256
16,230
56,183
5,000
£129,669
£129,669
-20-

ST GABRIEL9S PAROCHIAL CHURCH COUNCIL
NOTES TO THE FINANCIAL ￿ATEmE1¥ITS- continued
FOR THE YEAR ENDED 31 DECEMBER 2024
4. INCOME FROM INVESTMENfs AND BANK DEPOSITS
UnTe5triet¢d
FuDds
Restricted
Funds
Total
2024
Totsl
2023
Bank int¢re5t
Income from quotsd itiveslments
98
14,891
98
14,891
3,401
8259
£14.989
£14,989
£11,660
YeAr ended 31 December 2023
Unr¢stricted
Funds
Restrieted
Funds
Total
2023
Bank intercst
Income from quoted investments
3,401
8.259
3,401
8,259
£11,660
£11,660
5. EXPENDITURE ON RAISING FUNDS
Unrestrl¢ted
Funds
Restrlcted
Fullds
Total
2024
Tot*1
2023
Investment Management fees
Maintenance and upkeep of let property
33
1,854
8.800
8,800
£8.800
£8,800
£1,887
Year tnded 31 December 2023
UDrestrieted
Funds
Restrieted
Funds
Total
2023
Investjnent Management fee5
Maintenance and upkeep of let property
33
1.854
33
1,854
£1,887
£1,887
21-

ST GABRIELIS PAROCHIAL CHURCH COUNCIL
NOTES TO THK FllW4ANCIAL STATEMENTS- continlled
FOR THE YEAR ENDED 31 DECEMBER 2024
Gr8nt8 &
Dollations
oiher
Costs
Support
Costs
Total
2024
Total
2023
Dlocese and wider church
Church rutttting Costs
(includ¢s Restri¢t¢d fiwds)
Pari81L costs
Costs of providing ¢hurch servi￿$
Webcom expelldilure-Restricted fund
Costs of ¢harit8ble activities
Major ohuroh ￿paIrS-D¢S18lla¢ed fund
Professional fe¢s-De%ignated fiwd
Missioll Fund-Restri¢l¢d fjjnd
Church statue-Restricted fimd
D¢pr¢oi8tion
60,000
985
53,028
1,613
9,680
62,598
62,708
61,011
62,708
1.717
41.485
12,907
4.840
14,624
46,325
14,045
39.456
241
13,276
1,856
21,415
3,227
3,468
13,276
1,856
21,415
3,644
78.969
8,383
11.753
1,326
1,326
452
£60,000 £135,329
£32,267
£227,596
£278,101
Y¢Ar ended 31 D¢eember 2023
Grants &
DDnatlibDY
Other
Colts
Support
Costs
Total
2023
Dioeese gmd wid¢r Ghuroh
Church fUDning costs
(includes Restrioted funds)
Parish costs
Cosls of providing church servi¢¢s
W¢bc8m experAdilur¢-Restri¢ted fiwd
Costs of charitsble Mctiviti¢s
Mqior church r¢pairs-Designat¢d fund
ProfessloDRI fees-D¢signated fimd
Mission Fund-Restri¢t¢d
Chvroh stalue-R¢stn'cted fimd
Depre¢i&lio
59,167
278
1,566
61,011
50.991
1,515
34,757
9,397
12,530
4,699
60,388
14,045
39,456
512
78,969
8.383
11,753
3,132
3,644
78,969
8,383
11.753
452
452
£59,167 £187,610
£31,324
£278,101
TotAI
2024
Total
2023
Support Cost$
IT costs
P8ri8h Administrator
Parish office costs
Indep¢ndent examin4tion fr¢$
Accounting and bookkeeping fe
CBS and professional charges
B8llk and otber cb8rges
2,131
18,332
974
1.500
9,037
556
14,422
1,155
6,401
8,474
293
316
£32,267
£31,324
-22-

ST GABRIEL'S PAROCHIAL CHURCH COUNCIL
NOTES TO THE FINANCIAL sfATEMKKfs- eontlnued
FOR THE YEAR ENDED 31 DECEMBER 2024
ExPEND￿u￿￿ ON CHAIUTABLK ACTIVITIES (cont.)
Support Costs are apportioned on the basis of estima¢¢d usag¢ as follow
Diocese and wid¢r ¢hur¢h
Church runttillg cost$
P￿1$h costs
Cost8 of providing church seThitts
Costs of oharitable a¢tivities
5%
30%
(2023., 5%)
{2023: 30%)
12023: 40%)
(2023: 15%)
(2023: 10%)
1,613
9,680
12,907
4,840
3,227
1,566
9,397
12,530
4,699
3,132
Is%
£32,267
£3l.324
7. STAFF COSTS AND REMUNERATION OF KKY MANAGEMENf PERSONNEL
2024
2023
Wages and Sa[￿leS
Social seourity
Other pension costs
17.457
14,147
875
275
£18,332
£14,422
No employee has received remuneration at a rate of £60,000 or morc per annum (2023: Nil).
The average number of staff employed An the year was:
2024
2023
Adminxstration
8. TRUSTEESI EXPENSES AND REMUNERATON AIYD TRANSACTIONS WITH TRUSTE&
DurAng the yvar. the total amount donatsd by vaTiOUS trustees was £11,780 (2023.. £7,328).
The charlty trustees were not paid nor received any other benefits from employment with the charity (2023: £nil).
No (2023: One) trustee were reimbursed for out-of-pock¢t expenses durAng the year (2023: £2,787). No charity
trustee received payment for professional or other services supplied to the church (2023: £nil). Fr Owen Higgs,
as the Incumbv>nt, and Rev'd Al¢x Hobbs had customary clergy awmmodatioll provided.
In the opinion of the trustses, thcy are the key personn¢l of th¢ Church.
9. TAXATIOIY
The PCC as a ¢harity is ex¢mpt from tsx on income and Bains falling within section 505 of the Taxes Act 1988 or
section 252 of the Taxation of Chargeable Gains Act 1992 to th¢ extent that these are applied to ils charitsble
objects.

ST GABIUELJS PAROCHIAL CHURCH COUNCIL
NOTES TO THE FINANCIAL sfATEMENTS- contlnued
FOR THE YEAR EPIDED 31 DECEMBER 2024
10. TANGIBLK FIXKD ASSETS
Unrestrfcted
FuDds
EDdoJvment
Long Leagehold Long Leasehold
Unrestrleted
Equlpment
Total
COST OR VALUATION
At l January 2024
Additions
500,(100
475,000
10,584
3,644
985,584
3.644
At 31 Dc¢ember 2024
500.000
475,000
14,228
989,228
DEPRECIATION
At l January 2024
Charge forthe year
9,229
1,326
9,229
1.326
At 31 December 2024
10,555
10,555
NET BOOK VALUE
At 31 December 2024
£500,000
£475,000
£3.673
£978,673
At 31 December 2023
£500,000
£475.000
£1,355
£976,355
ii.
Total
2024
Total
2023
General Fund Mu$Ae Fund
Market value
At beginning of year
Additions
Disposals
Unrealised gainsl(losses)
291,203
29,875
(7,291)
13.710
7,025
298,228
29,875
(7,291)
13,871
330,020
26,136
(84,349)
26,421
161
£327,497
£7.186
£334,683
£298,228
Cost of investments
£320,239
£4,740
£324,979
£302,394
Unroalised gains/Oosses) on investments
£7.258
£2,446
£9,704
£(4,166)
The above investments are all held within the CCLA Church of England Investment Fund and in various tsnds of Sarasin
& Partners LLP
It Is the policy of the PCC that funds approximating to the PCC'S targeted level of unrestricted ro5eNes are held in the
CCLA Church of England Investtnent Fund to provide long terni return and protection against inflation.

ST GABIUEL'S PAROCHIAL CHURCH COUNCIL
NOTES TO THE FTNANCIALsfATKMENTS- Continued
FOR THK YEAR ENDED 31 DKCKlktBER 2024
11. INVESTMENTS (contRnu¢d)
Year ¢Dded 31 December 2023
Totsl
2023
GeMer81 Fund Mu8t¢ Fund
arket value
At beginning of year
Additions
Disposals
Unrealised {loss¢s)/gaiDS
323,599
26,136
(84,349)
25,817
6,421
330,020
26,136
(84,349)
26,421
604
£291,203
£7,025
£298,228
Cost of invesknents
£297,654
£4,740
£302,394
12. DEBTORS
Total
2024
Totsi
2023
Trade debtors
Agency collections
Tax recla￿able on GiftAid
Prepaym¢nts
12,320
,454
3,673
3.750
1,000
6,340
2,515
7,950
£28,197
£17,805
13.
CREDITORS: amoullts fglling due withln one yeiy
Total
2024
Total
2023
Accruals
Defe￿ed income
Other creditors
15,425
4,084
12,987
4,084
8,327
£19,509
£25,398
14. UNREgnilCTED FUNDS
It is the policy of the PCC to keep three months, nuthing Costs in reserve to cov¢r unforeseen events. In view of the state
of the thurch building and the results from tbe last Quinquennial Jnspection, any surpluses accrning iti excess of this target
shall be designated towards the Fabric Fund. Th¢ balance of unrestricted fimds, excluding the designated fund arising
from the legacy (se¢ Note 15), were:
Balance at 31 DeG¢mber 2024
£5,742
£5,742
-25-

ST GABRIEL'S PAROCHIAL CHURCH COUNCIL
NOTES TO THE FINANCIAL STATEMENTS- ¢ontinu¢d
FOR THE YEAR ENDED 31 DECENtBER 2024
15. DESIGNATED IPUIYDS
A designated fund was established in th¢ y¢ar ended 31 Dec￿ftbcr 2019 in respect ofthe sums received by way
of legacy.
Fund for the upkeep of the fabrie of the Church premises
Opening
Balance
ReleAsed
from
DeslgD8tion
Closlng
Balallce
Ineome
(iDcI. Galns)
Expenditure
Year ended 31 December 2024
£851,964
£21,494
£(13,276)
£860,182
Opening
Balance
llleome &
Galns
Designated In
Year
Closlng
Balance
Expendlture
Year ended 31 December 2023
£872,310
£67,039
£(87,385)
£851,964
During the year ended 31 December 2019, a fornier parishion¢r bequeathed a legacy with an estimated value of
£1,623,887 to the Vicar and Churchwardens of St Gabriel's Church for religious and charitsble purposes in the
parish as approved by the PCC. Included within the Icgacy was a l¢asehold propety with an estimated value of
£500,000 (refer note 10), with the balance of the lega¢y being financial investments. During 2020 the sum of £lm
was paid over by the Estate to St Gabriel's Church and used to establish an inv¢5tment portfollo with Sarasitt &
Partners LLP (Not¢ I l), along with a lump sum re¢¢ived in cash. A further £8k was paid into the portfolio from
the estate during the year as the estate was finalis¢d.
The PCC decided that the legacy will bc maintained as a deS]￿jated fund from which investm¢nt in¢omB is used
in the furtherance of the PCC'S objectives in the parisb, and Gapitsl expenditure from the fund will be used to
support m4ior projects, as agreed by the PCC. Such expenditure will generally not be used to cover the entir¢ cost
of any such project, but as a ￿ntrIbutiOn alongsidc whi¢h fmanoial support will continue to be sought from other
source&

ST GABRIEL'S PAROCHIAL CHURCH COUNCIL
NOTES TO THE FINANCIALSTATEMENTS- continued
FOR THE YEAR ENDED 31 DECEMBER 2024
16. RESTiucfED FUNDS
Opening
Balance
Transfers &
GalnslLoss
Closlng
BAlane¢
Income
Expenditure
Year ¢nded 31 Deeember 2024
Friends Funds
Fabri¢ Fund
Fabric Webcam I￿lld
Mission Fund
Stsff Fund
Mi8¢¢118neous Small Funds
Broadoasting Equipment
Mar¢vs Cornish Fund
Organ Fund
67,900
6.270
430
28,622
6,703
2,042
2,627
1,840
(1.911)
67,829
6,270
430
29,906
6,703
2,407
2,627
22,699
(21,415)
365
25.457
13.200
38,657
£140,051
£38,104
23,326)
£154,829
Year ended 31 December 2023
Friends Funds
Fabrlc Fund
Fabric Webcam Fund
Mi88ion Fund
Stsff Futtd
Mi$¢ellaneous Small Funds
Broadcasting Equipment
Marcus Con]ish Fund
Organ Fund
68,228
6.270
430
22,315
6.703
1.438
2,627
(6,365)
23,180
2.117
(2,445)
67,900
6,270
430
28,622
6,703
2,042
2,627
18.060
(11.753)
604
6.365
2,277
25,457
£124,826
£29.423
£(14.198)
£140.051
eted Fund8
Friends Funds
These Funds represent monies raised by the Friends of St Gabriel's specifically for the maintsnance and
enhan¢ement of the church building and th¢ restoration of the War Memorial (now completed).
Fabrle Fund
The Fund represents other monies received for the maintenance and ¢nhan¢ement of the church building.
Fabrle Webcam Fund and broadcasting equlpment
Like the Fabric Fund. these repres¢nt other monies received for maintenance and enhancement of the church
building but spe¢ifically restricted to the Webcam and broadcasting equipment.
Mtsslon Fund
The Mission Fund represents monics given to the Heaven's Gate Mission Project which is an activity of the P.C.C,
Staff Fund
This fimd represents monics given to support the employment of a curate.
Mi5cellaDeous Small Funds
These comprise four fiinds, each with a balan¢¢ of below £1,200, including the Music Fund, v￿￿llents Fund and
th¢ Flowers Fund.
-27-

sr GABRIEL*S PAROCHIAL CHURCH COUNCIL
NOTES TO THE FtNANCIAL sfATEMENTS- conlthued
FOR THE YEAR ENDED 31 DECEMBER 2024
17. ENDOWMENT FifND
The Endowment Fund is represented by a Icasehold property, which must be used in accordance within tho
restriotions imposed by the Diowe. See Tangible Fixed Assets- note 10.
Total
2024
Total
2023
Balance on the fimd at l January and 31 D¢￿rnber 2024
£475,000
£475,000
18. CONNEcfED CHARITIES Al￿ RELATED PARTY TRANSACTIONS
The members ofthe PCC are also the collectiv¢ trustee of St Gabriel's Parish House, a sep￿at¢ charity (registered
charity number 1114216). There were no transactions b¢tw¢¢n ihe charities during the year (2023: Nil).
In addition, the VI￿ and one other member of the PCC are trustees of Pimlxco Musical Foundation (registered
Charity number 1163223). Apart from th¢ PCC allowing the Foundation to have use of its rooms alld facililies at
Certain timcs without any charge, and reimbursement of ¢xpenditure incurred by the church on behalf of the
Foundation, there were no transa¢tions between th¢ charities during the year (2023: Nil).
Other than the reimbursement of minor out-of-pocket expenditure to tNstees, th¢r¢ wer¢ no related paty
transactions arising WLth any other related party in the year (2023: Nil).
-28-