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← The Parochial Church Council Of The Ecclesiastical Parish Of St Barnabas Kensington

2024-12-31-accounts

www.stbk.org.uk

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST BARNABAS KENSINGTON Diocese of London

Charity Registration Number: 1133985

Report & Accounts 31 December 2024

ST BARNABAS, KENSINGTON

Legal and Administrative Information For the year ended 31 December 2024

Page
Legal and administrative information 2
Report of the Parochial Church Council 3
Auditor’s report to the Parochial Church Council 8
Statement of financial activities 10
Balance sheet 11
Statement of Cashflows 12
Notes to the financial statements 13

1

ST BARNABAS, KENSINGTON

Legal and Administrative Information For the year ended 31 December 2024

Charity Name

The Parochial Church Council of the Ecclesiastical Parish of St Barnabas Kensington. The Parish was established in 1858 and is a charity which was formally registered with the Charity Commission on 2 February 2010. The registration number is 1133985.

Principal Address

St Barnabas Church, 23 Addison Road, London W14 8LH

Members of the PCC

The PCC who served during the year and who were serving at the date of this report were:

Vicar Reverend AndyBuckler FromJune 2017
Associate Vicar Reverend H Miller From July 2017
Church Wardens David Sola
Audrey Linton		 (elected APCM 2024)
(elected APCM 2024)
Elected
Lay Representatives		 Stuart Beck
Annabel Lea
Amanda Sharman
Zhaleh Gharehbaghloo
Simon Birungi
Atem Kuol
David Trodden
Patti Want
Leona Lengyel
Jonny Simpson
Stephen Buckley		 (elected APCM 2022)
(elected APCM 2022)
(elected APCM 2023)
(elected APCM 2023)
(elected APCM 2022)
(elected APCM 2023)
(elected APCM 2023)
(elected APCM 2024)
(elected APCM 2024)
(elected APCM 2024)
(elected APCM 2024)
Lay Representatives to the
Deanery Synod		 David Park
Roger Hall
Nicholas Bell		 (elected APCM 2023)
(elected APCM 2023)
(elected APCM 2023)
PCC Representative on the
School Board of Governors		 Rachel Edmondson (nominated by PCC 2022)

Salaried Personnel in Attendance

Salaried Personnel in Attendance
Director of Operations Chloe Slinger
PCC Secretary Heather Kilby
Key Management Personnel
Director of Worship Gilbert Chellembrom
Director of Operations Chloe Slinger
Professional Advisers and Agents
Bankers NatWest Bank plc Kensington, Royal Garden Branch,
55 Kensington High Street, London W8 5ZG
Auditor Xeinadin Audit Limited 5 Robin Hood Lane, Sutton, Surrey SM1 2SW
Quinquennial Inspector Robert Shaw Architects 32 Foster Road, Chiswick, London W4 4NY

2

ST BARNABAS, KENSINGTON

Report of the Parochial Church Council For the year ended 31 December 2024

The Parochial Church Council of the Ecclesiastical Parish of St Barnabas Kensington (“PCC”) submits its report and the financial statements of the PCC for the year ended 31 December 2024. The financial statements have been prepared in the format prescribed by the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP2019 (FRS102)) and the Financial Reporting Standard 102. The legal and administrative information set out earlier in this document forms part of this report.

The PCC co-operates with the incumbent in promoting the whole mission of the Church within its Parish and beyond. It also has responsibility for the non-stipendiary staff and the maintenance of St Barnabas Church, the Vicarage and the clergy houses at 17 Devonport Road and 87 Blythe Road. In essence the PCC is a consultative body that represents the views of the congregation as well as its own. It should communicate, where appropriate, any decisions of the PCC or its committees to the church; oversee and advise in the financial affairs of the church; pray and champion the vision for the church.

1. Structure, Governance & Management

1.1 The Governing Document

Parochial Church Council Powers Measure (1956) as amended and Church Representation Rules.

1.2 Trustees

The PCC is a body corporate with perpetual succession. The PCC meets approximately 6 times per annum to discuss a full range of matters relating to finance, fabric, general administration and responsibility for keeping of the Electoral Roll. Members of the PCC are either ex officio or elected by the Annual Parochial Church Meeting (APCM) or in attendance in accordance with the Church Representation Rules.

The induction process for any individual newly-appointed to the PCC comprises an initial meeting with the Vicar and receipt of copies of:

1.3 Standing Committee

This is the only committee required by law. It has power to transact the business of the PCC between its meetings, subject to any directions given by the PCC.

Revd. Andy Buckler (Vicar); Revd. H Miller (Associate Vicar); David Trodden (Treasurer); Chloe Slinger (Director of Operations); David Sola (Church Warden); Audrey Linton (Church Warden).

1.4 Church Attendance

The electoral roll is completely reviewed and revised once every six years. In 2024 the electoral roll stood at 316.

1.5 Risk Management

The PCC’s primary concern and objective is the discipling of individuals for the glory of God. Whilst it is the PCC’s policy to trust wholly in the Lord that He will work out His purpose to this end, the church also acknowledges that it has a responsibility, both as individual Members and as a body of Members, for the identification and proper management of risks faced by the PCC in achieving its primary aim. The PCC has therefore assessed the major risks to which the PCC is exposed, in particular those relating to the specific operational areas of the charity, its investments and its finances. The PCC believes that, by monitoring reserve levels, by ensuring that controls exist over key financial systems, and by examining the operational risks faced by the church, it has established effective systems and procedures to mitigate those risks.

1.6 Safeguarding

The Safeguarding Statement as proposed by the London Diocesan Fund was agreed and adopted by the PCC on 13th May 2024. Melenda McLean was reappointed as Children’s Champion and David Park was reappointed as Church Safeguarding Officer (CSO).

3

ST BARNABAS, KENSINGTON

Report of the Parochial Church Council For the year ended 31 December 2024

2. Objectives, Activities & Strategies

2.1 Objective

Promoting in the ecclesiastical parish the whole mission of the Church.

2.2 Activities

The PCC has given due regard to the Charity Commission’s guidance on public benefit. To this end the PCC organises the following activities in order to enable ordinary people to live out their faith as part of our parish community:

3. Review of the Year

2024 was marked by a desire to “open the doors” to a wider community. In the first instance, this was driven by the ambitious building project that proposes a complete rebuild of the historic organ, the creation of step free access to the church and the installation of Carbon neutral heating. The first phase was completed off-site and the rebuilt organ is due to be reinstalled in May 2025. On a deeper level, the church community has sought to open spiritual doors by building bridges with the wider neighbourhood and engaging further in God’s wider mission.

The electoral roll has continued to grow this year (from 297 to 316). During the year, we ran two Alpha courses, with the second (in October) in English, French and Farsi. A particular joy was to begin to strengthen and consolidate our growing Iranian community through the arrival in June of Basir, an Iranian curate. We held 10 baptisms and 13 confirmations.

Teaching in the first quarter services focused on the Covenant, looking at key Old Testament figures leading up to Easter. Once again, our joyful Easter celebration was a high point, with a dynamic Gospel message brought to us by Glyn Jones. Following this, our morning preaching looked at the work of Holy Spirit, with Create following the theme “Foundations of Faith”. Over the summer, we looked at “Unlikely Heroes” and a particular highlight was the musical Ruth, written and performed by members of the church, which was presented during a Create service in June.

During 2024, our local outreach continued through regular activities such as weekly Soft Play, monthly midweek concerts, termly Family Fun Days, monthly Gig Nights, a Light Party on 31st October and two Alpha courses. Our wider mission focus was enriched as we welcomed speakers from IJM, Compassion UK and London City Mission, as well as receiving visits from European groups coming from Austria, Germany, Switzerland, and in particular from France. Groups visited us in February and then in October from nine different French local churches as part of the Project Zacharie.

The summer period brought staff changes as said goodbye to Clare, Gemma and Sophie, and welcomed Basir as curate in June and Emily as families’ pastor in September. Also in September we welcomed over 100 past members of STBK for a special Past and Present weekend. It was a special time of worship and fellowship, testimony and prayer which reminded us strongly of God’s ongoing faithfulness. Just after this, in October, work on the Access for all ramp began, work which is due to be completed in May 2025. Our preaching series entitled “Together we Build”, looking at Nehemiah, echoed the project and invited us to explore the spiritual grounding that was inspiring the project. As the year concluded, particular highlights were the All-Age Christmas service and Carols by Candlelight, together a wonderful reminder of the generous faithfulness of God.

4

ST BARNABAS, KENSINGTON

Report of the Parochial Church Council For the year ended 31 December 2024

4. Financial Review

4.1 Financial Activity and Financial Position

The PCC’s main sources of funding are the free will offerings of church members, rental income from residential properties and lettings income from the hiring out the church buildings.

The Statement of Financial Activities and Balance Sheet can be found on pages 10 and 11 respectively. The Church’s reserves decreased by £180,879 during the year (2023: increased by £424,358). The balance sheet shows total net assets of £1,217,371 (2023: £1,398,250). Cash balances decreased by £110,543 (2023: increased by £310,287).

Included in total funds are amounts totalling £92,368 (2023: £298,763) which are restricted. These balances have either been raised for, and their use restricted to, specific purposes, or they comprise donations subject to donor-imposed conditions. Full details of these restricted funds can be found in note 11 to the accounts together with an analysis of movements in the year.

Income for the year amounted to £1,047,405 (2023: £1,222,157). Expenditure in 2024 was £1,228,284 (2023: £844,250). The largest element of expenditure, apart from expenses related to the Opening Doors Project, was direct staff costs, which amounted to £233,910 (2023: £188,734). We have continued to give to our mission partners and other Christian charities and individuals. In 2024 we gave £51,962 in gifts and grants (2023 £48,099) and contributed £121,669 (2023: £115,875) to the Diocesan Common Fund.

4.2 Reserves Policy

The PCC has examined the requirements for free reserves, i.e. those unrestricted funds not invested in tangible fixed assets or designated by the PCC for particular projects. The PCC considers that, given the nature of the church’s work, free reserves should be equivalent to approximately 6 months’ routine general fund expenditure, plus committed future expenditure on other projects, where funds permit. The PCC is of the opinion that this provides sufficient flexibility to cover temporary shortfalls in income will allow the church to cope and respond to unforeseen emergencies whilst specific action plans are implemented. At 31 December 2024 the church had net free reserves of £286,486 (2023: £254,200) as follows:

Total reserves
Less: restricted funds
Less: fixed assets
Less: Designated funds
Add: long term loans on residential & church properties
Add: provision for liabilities
Free reserves
Free reserves requirement:
6 month’s budgeted routine expenditure		 2024 2023
£
1,398,250
(298,763
(1,612,248
(100,159
160,000
707,120


)
)
)
£
1,217,371
(92,368)

(1,608,790)

(100,159)

160,000
707,120
254,200
283,174
200,000
200,000

The PCC is aware that free reserves can be below the free reserves requirement. The PCC is seeking to build up reserves in such a way that minimises the impact of the current operations of the church. To this end the PCC has made a standing commitment to budget for successive annual minimum surpluses of approximately £10,000 (based on conservative income projections at the start of each calendar year).

4.3 Investment Policy

Funds in excess of immediate working capital requirement are placed in a bank deposit account.

5

ST BARNABAS, KENSINGTON

Report of the Parochial Church Council For the year ended 31 December 2024

5. Plans for Future

Future plans of action focus on realising the mission of St Barnabas as articulated in our vision statement:

St Barnabas is called to be a kingdom community

As we look ahead, we sense God calling us into a new phase of our ministry and mission. He is preparing us for new growth, not only in numbers but also in depth and missional reach. A key part of this preparation is our ambitious capital project “Opening Doors” that aims to bring our buildings into line with our vision. This project involves creating step-free access to the church through a ramp into the north door and internal lifts, the complete restoration of the organ as part of a new phase of cultural witness and outreach, and the installation of new heating and lighting that will be more efficient and environmentally responsible. Although progress seems frustratingly slow at times, it is good to see the organ and ramp take shape. The completion of these phases of the project is expected in the first half of 2025. The remainder of the year will be focused on fundraising for the next phase, that of installing a new, carbon-neutral heating system.

Alongside these capital developments, our regular activities continue and will focus in 2025 on deepening discipleship. In particular, we will be looking to connect outreach and regular activities more coherently together as a pathway enabling people to find and grow in faith in Jesus Christ. Each of our four Sunday services has huge potential for enabling growth when connected more intentionally with our outreach events. At the same time, we will continue to build on the inter-cultural identity of our church and to develop a role in resourcing and encouraging the renewing and revival of churches in Europe.

6. Responsibilities of Trustees for the Financial Statements

The PCC is responsible for preparing the report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. Charity law in England and Wales requires the PCC to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the PCC and of the income and application of income of the charity for that period.

In preparing those financial statements, the PCC is required to:

The PCC is responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enables them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the governing document. The PCC is also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The PCC is responsible for the maintenance and integrity of the charity and financial information included in the charity’s website.

6

ST BARNABAS, KENSINGTON

Report of the Parochial Church Council For the year ended 31 December 2024

7. Approval

The report of the PCC was approved by the PCC on 23[rd] April 2025 and signed on its behalf by:

Revd. Andy Buckler Chairman

7

ST BARNABAS, KENSINGTON

Report of the Auditor to the Parochial Church Council of St Barnabas, Kensington

We have audited the financial statements of St Barnabas Parochial Church Council (the “PCC”) for the year ended 31 December 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and 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:

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 PCC 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 PCC members’ 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 PCC’s ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the PCC members with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, including the PCC members’ report, other than the financial statements and our auditor’s report thereon. The PCC members are responsible for the other information contained within the annual report. 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.

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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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

In the light of the knowledge and understanding of the PCC and its environment obtained in the course of the audit, we have not identified material misstatements in the PCC members’ report.

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

8

ST BARNABAS, KENSINGTON Report of the Auditor to the Parochial Church Council of St Barnabas. Kensington Responsibilities of the PCC member5 As explained more fully in the PCC members. responsibilities statement, the PCC members are responsible for the preparaEion of the financial statements 2nd for being satisfied that they give a true and fair view, and for such internal control as they 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 PCC members are responsible for assessing 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 unle55 the PCC members either intend io liquidate the PCC or to cease operations. or have no realis¢ic alternarive but co do so. Auditor's responsibilitles for the audlt of the financial statements We have been appointed a5 auditor under section 145 and repon in accordance with the Act and relevant regulations made or having effect chereunder. Our objectives are to obtain reasonable assurance about whether the financi31 statements as a whole are free from material misstatement, whether due ¢0 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 thac an audic conducied in accordance with ISAS {UK) will alw3ys detect a material misstatement when ir 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. The extent to which our procedures are capable of detecting irregularities. including fraud is detailed below: Based on our understandirbg of the chariry, we identified that the principal risks of non-compliance with laws and regulations related to employment, financial reporting legis12tion and health and safety regulations and we considered che 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 stacemencs such as the Charitie5 Act 2011. We assessed ihe susceptibility of the chariry's financial statements to material missracemenL including obtainin8 an understanding of how fraud might occur, by making enquiries of management, considering che internal controls in place and discussion amongst the engagement team. We determined that the principal risks were related to management bias in accounting estimates. valuation of property. preser¢tation of separately disclosed item$ and management override of controls. In response ro the risks identified we designed procedures which included but were not limited to challenging significant accounting estimates such as valuation of properry, agreeing financial sca¢ement disclosures ¢0 underlying supporting documentation, idenlifying and testing journal entries, reviewing PCC meeting minutes and evaluating che chariry, internal controls. There are inherent limitations in the audit procedures described above. The more removed that laws and regulations are from financial tran5action5. the less likely it is that we would become aware of non-compliance. Material misstatement5 that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. A further description of our responsibilities for the audil of the financial statements is located on the Financial Reporting Council's website a¢.. [www.frc.org.uklauditorsresponsibilities]. This description forms pan of our auditor's report. Use of our report This repori is made solely to the PCC members, as a body, in accordance Part 4 of the charicies (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state 10 the PCC members, those matters we are required to srate to them in an auditor's report and for no other purpose. To the fullest extent permitted by law. we do not accepr or assume responsibiliry to anyone other than the PCC and the PCC members as a body. for our audit worl for this reporr. or for the opinions we have formed. Xelnadin Audit Limited Statutory Auditor Chartered Accountants 5 Robin Hood Lane Sutton Surrey SMI 2SW Xeinadin Audit bmited is eligible for oppointment os Guditor of the PCC by vtrtue of its eligibility for appointment os auditor of o compony under section 1212 ofthe Compunies Act 2006.

ST BARNABAS, KENSINGTON

Statement of Financial Activities (including income and expenditure account) For the year ended 31 December 2024

Note
Income from:
Donations and legacies
2
Charitable activities
Other trading activities
Investments
Total Income
Expenditure on:
Raising funds
3
Charitable activities
4
Total Expenditure
Net(Expenditure)/Income
5
Transfers between funds
Other gains/(losses)
6,10
Net movement in funds
Total funds brought forward
Total funds carried forward		 Unrestricted
Funds
2024
£
507,991
9,408
115,429
3,822		 Restricted
Funds
2024
£
406,611
-
4,144
410,755
-
621,450
621,450
(210,695)
4,300
-
(206,395)
298,763
92,368		 Unrestricted
Funds
2023
£
517,518
12,471
133,092
2,305		 Restricted
Funds
2023
£
552,594
4,177		 Restricted
Funds
2023
£
552,594
4,177














Total
2023
£
1,070,112
12,471
133,092
6,482
1,222,157
78,793
765,457
Total
2024
£
914,602
9,408
115,429
7,966
636,650 665,386 556,771
1,047,405
55,293
551,541
606,834
29,816
(4,300)
-
25,516
1,099,487
1,125,003		 78,793
486,421
565,214
100,172
-
46,451
146,623
952,864
1,099,487		 -
279,036
55,293
1,172,991
279,036 844,250
1,228,284
277,735 377,907
(180,879)
-
-		 -
46,451
-
-
277,735
21,028		 424,358
973,892
(180,879)
1,398,250
298,763 1,398,250
1,217,371

10

ST BARNABAS, KENSINGTON

BALANCE SHEET As at 31 December 2024

Unrestricted Restricted Unrestricted Unrestricted
Restricted
Funds Funds Total Funds Funds
Funds		 Total
Note 2024 2024 2024 2023 2023
2023		 2023
£ £ £ £ £
£		 £
Fixed Assets
Tangible Assets 6 1,608,790 - 1,608,790 1,612,248 - 1,612,248
Current Assets
Stock 614 - 614 527 - 527
Debtors 7 62,173 - 62,173 118,519 - 118,519
Cash At Bank And In Hand 355,067 92,368 447,435 259,215 298,763 557,978
417,854 92,368 510,222 378,261 298,763 677,024
Creditors - Amounts Falling Due
Within One Year		 8 34,521 - 34,521 23,902 - 23,902
Net Current Assets 383,333 92,368 475,701 354,359 298,763 653,122
Creditors - Amounts Falling Due 9 160,000 - 160,000 160,000 - 160,000
After More Than One Year
Provisions for liabilities 10 707,120 - 707,120 707,120 - 707,120
Net Assets 1,125,003 92,368 1,217,371 1,099,487 298,763 1,398,250
Represented By:
Restricted Funds 11 - 92,368 92,368 - 298,763 298,763
Unrestricted Funds:
General 1,024,844 - 1,024,844 999,328 - 999,328
Designated 100,159 - 100,159 100,159 - 100,159
Total Funds 1,125,003 92,368 1,217,371 1,099,487 298,763 1,398,250

The financial statements were approved by the PCC on 23[rd] April 2025 and signed on its behalf by:

David Trodden Treasurer

11

ST BARNABAS, KENSINGTON

STATEMENT OF CASHFLOWS For the year ended 31 December 2024

Note
Net cash flows from/(used in) operating
activities
14
Cash flows from investing activities:
Dividends, interest and rents from investments
Purchase of property plant and equipment
6
Net cash provided/ (used in) investing activities
Change in cash and cash equivalents in the
reporting period
Cash and cash equivalents brought forward
Cash and cash equivalents carried forward		 Unrestricted
Funds
2024
£
93,785
3,822
(1,755)
2,067
95,852
259,215
355,067		 Restricted
Funds
2024
£
(210,539)
4,144
-
4,144
(206,395)
298,763
92,368		 Total
2023
£
318,868





)
Total
2024
£

(116,754)
6,482
(15,063)
7,966
(1,755)
(8,581
6,211
310,287
247,691
(110,543)
557,978
557,978
447,435

12

ST BARNABAS, KENSINGTON

Notes to the Financial Statements For the year ended 31 December 2024

1. Accounting Policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

Basis of accounting

The financial statements have been prepared under the Charities Act 2011 and in accordance with the Charities Statement of Recommended Practice (Charities SORP (FRS 102)) and Financial Reporting Standard 102 (FRS 102). The financial statements are drawn up on the historical cost basis of accounting except for the revaluation of freehold land and buildings which are shown at market value. The charity prepares its financial statements in pounds Sterling, rounding to the nearest £.

The financial statements include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe an affiliation to another body or those that are informal gatherings of church members.

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

Going Concern

There are no material uncertainties about the charity’s ability to continue and accordingly the accounts have been drawn up on a going concern basis.

Income recognition

Voluntary income and donations (including legacies) are accounted for once the PCC has entitlement to the income, it is probable the income will be received, and the amount of income receivable can be reliably measured. Income from the recovery of tax on gift aided donations is accounted for in the period to which the relevant donation is received. Grant income is recognised on a receivable basis.

The income from trading activities includes rental income from the letting of church premises and freehold land and buildings which is accounted for when earned. It is shown gross, with the associated costs included in fundraising costs.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Expenditure recognition

Expenditure is accrued as soon as a liability is considered probable, and the amount of obligation can be measured reliably. Longer term liabilities are discounted to present value. The PCC is not registered for VAT and accordingly expenditure includes VAT where appropriate.

Expenditure included in Raising Funds includes amounts incurred in obtaining grants and other donations and property maintenance costs.

Charitable expenditure includes those costs in fulfilling the PCC’s principal objects, as outlined in the Report of the PCC. These include grants payable, governance costs and an apportionment of support costs.

13

ST BARNABAS, KENSINGTON

Notes to the Financial Statements For the year ended 31 December 2024

1. Accounting Policies (continued)

The PCC contributes to certain employees' personal pension plans. These are defined contribution schemes, the assets of which are held separately from those of the charity. The cost in the accounts is the amount of contributions paid and payable during the year.

Rentals under operating leases are charged as incurred over the term of the lease.

Tangible Fixed Assets

Consecrated Property and Moveable Church Furnishings

Consecrated land and benefice property such as the church building and vicarage is excluded from the accounts in accordance with s10 of the Charities Act 2011. Moveable church contents are held by the vicar and churchwardens on special trust for the PCC and require a faculty for disposal are accounted as inalienable property unless consecrated. All expenditure incurred on consecrated or benefice buildings and moveable church furnishings, whether maintenance or improvement, is expensed within the Statement of Financial Activities.

Freehold Land & Buildings

Freehold land and buildings are stated at market value. Freehold land and buildings are not depreciated as depreciation would be immaterial.

Other Fixtures, Fittings & Office Equipment

The cost of other furniture, fittings and equipment, less any expected residual value, is depreciated on a straight-line basis over the effective useful life of the asset, which has been estimated as follows: Computer and Softplay equipment: 3 years Other equipment: 3-5 years

Stock

Stock of books is included at the lower of purchase cost and net realisable value with reference to current prices.

Debtors

Debtors are included at the settlement amount due. Prepayments are valued at the amount prepaid.

Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of opening of the deposit.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation arising from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are recognised at their settlement amount.

Borrowings

The PCC has three categories of borrowings:

Fund accounting

The funds held by the charity are either:

14

ST BARNABAS, KENSINGTON

Notes to the Financial Statements For the year ended 31 December 2024

2. Income

Unrestricted
Funds
2024
£
Restricted
Funds
2024
£
Donations & legacies
Offerings and donations
411,563
306,263
French Connect
-
1,420
Income tax reclaimed
94,960
27,928
Legacies
-
-
Grants
1,468
71,000
507,991
406,611
Charitable activities
Sticky Fingers
5,841
-
Barnabas Music Academy
3,567
-
9,408
-
Other trading activities
Lettings income – residential
40,080
-
Lettings income – Howard Hall & church
60,655
-
Outings and other parish events
12,450
-
Other
2,244
-
115,429
-
Investments
Bank Interest
3,822
4,144
Total
636,650
410,755		 Total
2023
£
841,057
21,480
172,575
35,000
-
1,070,112
5,608
6,863
12,471
62,080
59,490
10,343
1,179
133,092
6,482
1,222,157		 Total
2023
£
841,057
21,480
172,575
35,000
-
Total
2024
£
717,826
1,420
122,888
-
72,468
914,602
5,841
3,567
9,408
40,080
60,655
12,450
2,244
115,429
7,966
1,047,405

The following grants were received for the Access for all project: Matthews Wrightson Charity Trust: £1,000 Olympia Trust: £5,000 Laing family Trusts: £5,000 Benefact Trust: £60,000

3. Expenditure on Raising Funds

Unrestricted
Funds
2024
£
Restricted
Funds
2024
£
Residential church property costs - upkeep
14,138
-
Residential church property costs - interest
37,505
-
Bank & collecting agent fees
2,336
-
Sticky Fingers
1,314
-
55,293
-		 Total
2023
£
40,620
34,777
1,466
1,930
Total
2024
£
14,138
37,505
2,336
1,314
78,793
55,293

15

ST BARNABAS, KENSINGTON

Notes to the Financial Statements For the year ended 31 December 2024

4. Expenditure on Charitable Activities

Provision of clergy
Common Fund
Other
Church Life & Outreach
Gross salaries
Employer’s National Insurance
Upkeep of services
French Connect
Worship/Organist
Children/youth
Church Weekend
Music School
Other ministries
Catering & hospitality
Gifts and grants (see note 4b below)
Provision of Office & Support
Gross salaries
Employer’s National Insurance (net of NI Emp All)
Pension contributions
Staff expenses other
Volunteer expenses
Printing, postage & stationery
Photocopying
Accountancy, payroll & recruitment
Technology – IT (communications, phones, software)
Technology – sound & video
Publicity and website design
Depreciation
Other
Provision of Buildings and Facilities
Gross salaries
Employer’s National Insurance
Heat, light & water
Insurance
Repairs & maintenance & H&S & Diocesan interest
Cleaning & waste
Governance costs
Audit fee
Total expenditure – charitable activities		 Unrestricted
Funds
2024
£
121,669
-
121,669
106,107
8,684
3,636
881
8,579
3,261
1,890
979
1,242
5,250
21,165
161,674
46,316
2,111
9,866
45,940
9,866
1,007
3,277
2,774
15,243
1,725
3,249
5,213
468
147,055
54,689
2,525
26,166
6,421
22,356
1,426
113,583
7,560
7,560
551,541		 Restricted
Funds
2024
£
-
-
-
3,612
-
-
3,212
-
-
-
-
-
-
30,797
37,621
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
583,829
-
583,829
-
-
621,450		 Total Total
2023
£
115,875
3,355
2024
£
121,669
-
119,230
73,499
2,801
3,000
9,232
6,097
4,154
6,105
1,990
1,810
6,996
48,099
121,669
109,719
8,684
3,636
4,093
8,579
3,261
1,890
979
1,242
5,250
51,962
163,783
46,133
1,680
8,264
22,480
10,699
550
2,394
6,219
13,936
3,005
3,755
4,634
1,500
199,295
46,316
2,111
9,866
45,940
9,866
1,007
3,277
2,774
15,243
1,725
3,249
5,213
468
125,249
54,352
2,004
13,183
5,288
274,034
1,134
147,055
54,689
2,525
26,166
6,421
606,185
1,426
349,995
7,200
697,412
7,560
7,200
7,560
765,457
1,172,991

16

ST BARNABAS, KENSINGTON

Notes to the Financial Statements For the year ended 31 December 2024

4a. Expenditure - Employee Emoluments

In addition to the many volunteers who give their time to the church, there were 12 (2023: 11) employees whose costs are included within each of the main cost categories of “Expenditure – Charitable Activities” (note 4 above). Their aggregate emoluments were as follows:


moluments were as follows:
Gross salaries
Employer’s National Insurance (net of SMP and Employer’s Allowance)
Pension costs
Redundancy payment		 2024 2023
£
173,985
6,485
8,264
-
188,734
£
210,529
13,320
9,866
195
233,910

The figures exclude the amounts paid to the Diocese for the incumbent, who are funded through the Common Fund. No employee (2023: nil) received emoluments in excess of £60,000 during the year. The number of staff for whom pension contributions were made during the year was 12 (2023: 11).

4b. Expenditure – Missionary & Charitable Giving

Giving to organisations
Kingdom Compassion
London City Mission
Compassion
CMS
Project Zacharie (support of French local churches)
Glass Door
SBSP School support
Refugee Support
Musical outreach
Local outreach
Kingfisher Ministries
Imprint Church
R Field
Burning Hearts
Gift of Blessing Trust
Poppy Appeal
International Justice Mission IJM
Bishop’s Fund
Giving to individuals
Other gifts over £1,000 each
Other gifts under £1,000 each		 Unrestricted
Funds 2024
£
Restricted
Funds 2024
£
3,000
2,000
6,000
-
3,000
-
1,000
-
302
-
939
-
469
-
3,346
-
560
-
718
-
300
-
150
-
150
-
300
-
250
-
-
120
-
-
-
-
20,484
2,120
-
26,150
681
2,527
681
28,677
21,165
30,797		 Total 2023
£
6,000
5,000
3,196
1,000
900
1,646
355
-
1,596
-
-
-
-
-
-
-
2,500
100
22,293
12,200
13,606
25,806
48,099		 Total 2023
£
6,000
5,000
3,196
1,000
900
1,646
355
-
1,596
-
-
-
-
-
-
-
2,500
100
22,293
12,200
13,606
25,806
48,099
Total 2024
£
5,000
6,000
3,000
1,000
302
939
469
3,346
560
718
300
150
150
300
250
120
-
-
22,604
26,150
3,208
29,358
51,962

17

ST BARNABAS, KENSINGTON

Notes to the Financial Statements For the year ended 31 December 2024

5. Net Income/(Expenditure)

Net Income/(Expenditure)

This is stated after charging:
Operating lease rentals
Depreciation
Audit fee		 2024 2023
£ £
1,296 1,296
5,213 4,634
7,560 7,200

6. Tangible Fixed Assets

Cost/Fair Value
At 1 January 2024
Additions
At 31 December 2024
Depreciation
At 1 January 2024
Charge for Year
Disposals
At 31 December 2024
Net Book Value
At 31 December 2024
At 31 December 2023		 Freehold
land &
building
£
Fixtures,
fittings &
equipment
£
1,600,000
98,644
-
1,755
1,600,000
100,399
-
86,396
-
5,213
-
-
-
91,609
1,600,000
8,790
1,600,000
12,248
Total
£
1,698,644
1,755
1,700,399
86,396
5,213
-
91,609
1,608,790
1,612,248

All of the fixed assets are used for charitable purposes.

The freehold land and buildings comprise:

18

ST BARNABAS, KENSINGTON

Notes to the Financial Statements For the year ended 31 December 2024

7. Debtors

Prepayments
Income tax recoverable
Prepayment of Organ completion cost
Other debtors		 2024 2023
£
4,907
99,288
-
14,324
£
7,148
19,875
28,800
6,350
118,519
62,173

8. Creditors - Amounts Falling Due Within One Year

Creditors - Amounts Falling Due Within One Year
Creditors for goods and services
Accruals
Retention for access building works
Other creditors including taxation and social security		 2024 2023
£
3,500
17,764
-
2,638
23,902
£
1,295
14,829
12,117
6,280
34,521

9. Creditors - Amounts Falling Due After More Than One Year

Loan – private (87 Blythe Road)
Loan – London Diocesan Fund (87 Blythe Road)
Loan – Church Commissioners (87 Blythe Road)		 2024 2023
£
10,000
50,000
100,000
160,000
£
10,000
50,000
100,000
160,000

The £10,000 interest-free loan from a member of the congregation is repayable upon the sale of the property, unless earlier by mutual agreement. This is a concessionary loan and stated at the amount of the original transaction.

The £50,000 secured value linked loan from the London Diocesan Fund is an interest-bearing loan repayable upon the sale of the Blythe Road property. The interest rate is 6.25%. The PCC consider that the fair value of this loan at the balance sheet date is £50,000.

The £100,000 secured value linked loan from the Church Commissioners is an interest-bearing loan repayable upon the sale of the Blythe Road property. The interest rate is 1% above the Central Board of Finance deposit accounts rate. This loan is a basic financial instrument and is accounted for using the effective interest rate method.

19

ST BARNABAS, KENSINGTON

Notes to the Financial Statements For the year ended 31 December 2024

10. Provisions for liabilities

London Diocesan Fund & Church Commissioners (87 Blythe Road)
Provision brought forward
Change in the year
Provision carried forward		 2024 2023
£
653,571
53,549
707,120
£
707,120
-
707,120

The provision is calculated as 53.57% (see note 6) of £1,600,000, the stated value of the property at 87 Blythe Road, less the amount of value linked loans outstanding on the property (£150,000).

11. Restricted Funds

Opening Doors (includes Organ fund)
Vicar & Churchwardens fund
Nominated gifts (to individuals)
Gifts (French Connect)
Nominated Gifts (Thanksgiving)
Total
Organ fund
Vicar & Churchwardens fund
Nominated gifts (to individuals)
Gifts (French Connect)
Nominated Gifts (Thanksgiving)
Total		 At 1
January
2024
£


Income
£
Expenditure
£
Transfers
£
Gains/
(losses)
£

388,492
(583,829)
-
-

18,722
(28,676)
4,300
-

2,121
(2,121)
-
-

1,420
(6,824)
-
-

-
-
-
-		 At 31

December

2024


£
264,086
18,245
-
6,951
9,481

68,749

12,591

-

1,547

9,481
**298,763 ** 410,755
(621,450)
4,300
-
92,368
At 1
January
2023
£
1,000
10,547
-
-
9,481



Income
£
Expenditure
£
Transfers
£
Gains/
(losses)
£

504,300
(241,214)
-
-

28,732
(21,034)
-
-

2,259
(2,259)
-
-

21,480
(14,529)
-
-

-
-
-
-		 At 31

December

2023


£

264,086

18,245

-

6,951

9,481
21,028 556,771
(279,036)
-
-		 298,763

Opening Doors : Funds received for the purpose of providing access for all, carbon-neutral heating and organ restoration work. It incorporates what was previously called the “Organ restoration fund”.

Vicar & Churchwardens Fund : A discretionary fund primarily for the purpose of enabling the Vicar to make grants to individuals in need. The transfer during the year was made from the income from weddings, funerals and other sources to meet expenditure on this fund.

Nominated Gifts to individuals are gifts given in response to specific needs.

The Thanksgiving fund remains from the appeal in 2018, these funds are set aside to develop the worship and outreach of the church through music and the arts.

French Connect : these funds are given and used specifically for the French speaking ministry of the church.

20

ST BARNABAS, KENSINGTON

Notes to the Financial Statements For the year ended 31 December 2024

12. Operating Lease Commitments

The total future minimum lease payments under non-cancellable operating leases are payable:

Not later than one year
Later than one year and not later than five years		 2024 2023
£
1,296
-
1,296
£
-
-
-

13. Related Party Transactions and Balances

The following payments to PCC members, their spouses and other related parties, are required to be disclosed in these accounts:

No PCC member expenses have been incurred or paid.

14. Reconciliation of net (expenditure)/income to net cash flow from operating activities

Net movement in funds per SOFA
Adjustments for:
Depreciation charges
Dividends, interest and rents from investments
Revaluation (gains)/losses on freehold property
(Increase)/decrease in stocks
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Increase/(decrease) in provisions
Net cash provided by/(used in) operating activities		 Unrestricted
Funds
2024
£
25,516
5,213
(3,822)
-
(87)
56,346
10,619
-
93,785		 Restricted
Funds
2024
£
(206,395)
-
(4,144)
-
-
-
-
-
(210,539)		 Total
2023
£
424,358
4,634
(6,482)
(100,000)
205
(22,765)
(34,631)
53,549










Total
2024
£
(180,879)
5,213
(7,966)

-
(87)

56,346
10,619
-
318,868
(116,754)

21