The Parochial Church Council of the Ecclesiastical Parish of St George with St Anne and St Mark Charlty No. 1134037 Trustees, Report and Unaudited Accounts 31 December 2024
The Parochlal Church Council of the Eccleslastical Parish of St George with St Anne and St Mark Contents Pages Trustees, Annual Report Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Accounts 6t014 Detailed Statement of Financial Activities 15to16 Page I
The Parochial Church Council of the Ecclesiastical Parish of St George with St Anne and St Mark Trustees Annual Report The trustees present their report with the unaudited financial statements of the charity for the year ended 31 December 2024. REFERENCE AND ADMINISTRATIVE DETAILS Charity No. 1134037 Trustees The following trustees served during the year: H. Beaumont S. Clough A. Cooke M.C, Ellis A,H, Manson-Brailsford A. Moulson P. Simmons M. Sofaer A. Tallon S.C. Teixeira da Mota G. Todd-ware R. Wormald Accountants SRC Advisory Ltd Stanford Gate South Road Brighton BNI 6SB Statement of trustees. responslbllltles In relatlon to the financlal statements The charity trustees are responsible for preparing a trustees, annual report and f inancial statements in accordance with applicable13W and United Kingdom Accountin8 Standards (United Kin8dom Generally Accepted Accounting Practice). The trustees are responsible for keeping proper accou nting records that disclose with reasonable accuracy at any time the f inancial position of the charity and to enable them to ensure that the f inancial Statements comply with the Charities Act 2011, the applicable Charities {Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detettion of fraud and other irregularities. Signed on behalf of the charity's truste A.H. Manson-Brailsford k/LTh-I Trustee 23 May 2025 Page 2
The Parochial Church Council of the Ecclesiastical Parish of St George wlth St Anne and St Mark Independent Examiners Report Independent Examlner's Report to the trustees of The Parochial Church Council of the Ecclesiastical Parish of St George with St Anne and St Mark I report to the trustees on my examination of the financial statements of The Parochial Church Council of the Ecclesiastical Parish of St George with St Anne and St Mark for the year ended 31 December 2024 which comprise the Statement of Financial Activities, the Balance Sheet and the related notes. Responsibilities and basis of report As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 20111'the Act'}. The trustees consider that an audit is not required for this year under the Charities Act 2011, 5. 14412) (the 2011 Act) and that an independent examination is needed. I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the Act. Independent examiner's statement As the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination by being a qualified member of MAAT. I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in, any material respect: the accounting records were not kept in respect of the charity as required by section 130 of the Act; or the flnancial statements do not accord with those records,, or the f inancial statements do not comply with the applicable requirements concernlng the form and content of the financial statements set out in the Charities IAccounts and Reports) Regulations 2008 other than any requirement that the financial statements give a 'true and fair, view which is not a matter considered as part of an independent examination. I have no concern5 and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Edward R de Souza MAAT SRC Advisory Ltd Stanford Gate South Road Brighton BNI 6SB 23 May 2025 Page 3
The Parochial Church Council of the Ecclesiastical Parish of St George with St Anne and St Mark Statement of Financial Activities for the year ended 31 December 2024 Unrestricted fund5 Restritted funds Total funds Total funds 2024 2024 2023 2024 Notes Income and endowments from: Donations and legacies Charitable activities Other trading activities Investment5 28,096 6,654 106,197 951 28,096 6,654 106,197 951 23,631 3,580 88,273 923 Other 168,922 168,922 59,502 Total 141,898 168,922 310,820 175,909 Expenditure on: Raising funds Charitable activities 18,197 3,426 221,581 18,197 3,426 221,581 13,702 2,921 201,914 Other io Total 243,204 243,204 218,537 Net gains on investments Net Incomellexpendlture) Transfers between funds 3,073 11 {101,3061 168,922 67,616 {39,555) Net incomellexpenditure) before other galnslllosses) 1101,3061 168,922 67,616 {39,5551 Other gains and losses Net movement in funds 1101,3061 168,922 67,616 139,5551 Reconclllatlon of funds: Total funds brought forward 137,522 42,983 180,505 220,060 Total funds carried forward 36,216 211,905 248,121 180,505 Page 4
The Parochial Church Council of the Ecclesiastical Parish of St George with St Anne and St Mark Balance Sheet at 31 December 2024 Charlty No. 1134037 2024 2023 Fixed assets Tangible assets Investments 13 107.564 41,468 149.032 77,539 41,468 119,007 14 Current assets Debtors Cash at bank and in hand 15 I,iio 138,636 139,746 (12,5401 127,206 I,iio 98,394 99,504 {9,8891 89,615 Creditors: Amount falling due within one year 16 Net current assets Total assets less current liabilltles 276,238 208,622 (28,1171 180,505 Creditors: Amounts falling due after more than one year Net assets excluding pension asset or liability 17 128,1171 248,121 Total net assets 248,121 180,505 The funds of the charity Restrlcted funds Restricted income funds 18 208,832 208,832 39,910 39,910 Unrestricted funds General funds Designated funds 18 1172,2051 208,421 1100,1411 237,663 36,216 137,522 Reserves Revaluation reserve 18 3,073 3,073 3,073 3,073 Total funds 248,121 180,505 Approved by the trustees on 23 May 2025 And signed on their behalf by.. (Im A.H. Manson-Brailsford Trustee 23 May 2025 Page 5
The Parochial Church Council of the Ecclesiastical Parish of St George with St Anne and St Mark Notes to the Accounts for the year ended 31 December 2024 l Accounting policies Ba515 of preparation The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FR5 102} issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and the Charities Act 2011. Change in basis of accounting or to previous accounts There has been no change to the accounting policies Ivaluation rules and method of accounting) since last year and no changes have been made to accounts for previous years. Fund accounting Unrestricted funds These are avallable for use at the discretion of the trustees in furtherance of the general objects of the charity. These are unrestricted funds earmarked by the trustees for particular purposes. These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. These are available for use subject to restrictions imposed by the donor or through terms of an appeal. Designated funds Revaluation funds Restricted funds Income Recognition of income Income is included in the Statement of Fina ncial Activities (SOFA) when the charity becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability. Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SOFA. Donations and legacies Voluntary income received by way of grants, donations and gifts is included in the the SOFA when receivable and only when the Charity has unconditional entitlement to the income. Tax reclaims on Income from tax reclaims is included in the SOFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount In expenditure) where the benefit to the Charity is reasonably quantifiable, measurable and material. Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/{lossesl on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets and facilities Gains/llossesl on investment assets This includes any gain or loss on the sale of investments. Page 6
The Parochial Church Council of the Ecclesiastical Parish of St George with St Anne and St Mark Notes to the Accounts Expenditure Recognition of expenditure Expenditure is recognised on an accruals basis. Expènditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates. Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the cost5 incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs. All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid. These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs. These are support costs not allocated to a particular activity. Grants payable Governance costs Other expenditure Taxatlon The charity Is exempt from tax on its charitable activities. Tangible flxed assets and depreclation Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life., Freehold property % Not provlded Improvements to property Yo at varying rates on cost Fixtures & flttings 25Yo Straight line Freehold investment property Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise. Stocks Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market. Trade and other debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash and cash equivalents Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of fi nancial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management. Page 7
The Parochial Church Council of the Ecclesiastical Parish of St George with St Anne and St Mark Notes to the Accounts Trade and other creditors Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. Research and development Expenditure on research and development 15 written off in the year in which it is incurred. Foreign currencies Monetary assets and liabilities denominated in currencies other than the f unctional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred. All exchange differences are are taken into account in arriving at net income/expenditure. Leased assets Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a f inance lease. Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases. Assets held under f inance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability, Finance expenses are recognised immediately, unless they are directly attributable to qualifying a55et5, in which case they are capitalised in accordance with the charitV'5 policy on borrowing costs. Assets held under finance lease5 are depreciated in the same way as owned assets. Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis. Penslon costs The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds. Receipt of donated goods, facilities and services All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity. Page 8
The Parochial Church Council of the Ecclesiastical Parish of St George with St Anne and St Mark Notes to the Accounts 2 Statement of Financial Activities- prior year Unrestricted funds Restricted funds Total funds 2023 2023 2023 Income and endowments from: Donations and legacies Charitable activities Other trading activities Investments Other 23,451 3,580 88,273 923 180 23,631 3,580 88,273 923 59,502 59,502 Total 175,729 180 175,909 Expenditure on: Raising funds Charitable activities 13,702 2,921 201,802 13,702 2,921 201,914 Other 112 Total 218,425 112 218,537 Net gains on investments Net income 3,073 {39,6231 12,1201 3,073 68 139,5551 Transfers between funds 2,120 Net Income before other galns/{losses) Other gains and losses: Net movement in funds 141,743) 2,188 139,5551 (41,7431 2,188 139,5551 Reconciliatlon of funds: Total funds brought forward Total funds carrled forward 182,338 37,722 220,060 140,595 39,910 180,505 3 Income from donatlons and legacles Unrestrlcted Total Total 2024 2023 Planned giving & gift aid Collections at services Sundry donations & appeals 19,416 19,416 21,947 1,023 661 8,680 28,096 8,680 28,096 23,631 Page 9
The Parochial Church Council of the Ecclesiastical Parish of St George with St Anne and St Mark Notes to the Accounts 4 Income from charitable actlvltles Unrestricted Total Total 2024 2023 Church letting & hiring 5,592 1,062 6,654 5,592 1,062 6,654 3,510 70 3,580 5 Income from other trading a¢tivltles Unrestrlcted Total Total 2024 2023 Café 31,552 74,645 106,197 31,552 74,645 106,197 29,766 58,507 88,273 Crypt 6 Incorne from Inve5tmentS Unrestrlcted Total Total 2023 2024 Interest income 951 951 923 951 951 923 7 Other Income Restrlcted Total Total 2024 2023 Grants 168,922 168,922 49,375 10,127 59,502 Government grants 168,922 168,922 8 Expenditure on raising funds Unrestrlcted Total Tota5 2024 2023 Fundraising troding cost5 Café 18,197 18,197 18,197 18,197 13,702 13,702 Page 10
The Parochial Church Council of the Eccleslastical Parish of St George with St Anne and St Mark Notes to the Accounts 9 Expenditure on charltable activities Unrestricted Total Total 2024 2023 Governance costs Independent examiner's fee Accountancy 1,600 1,826 1,600 1,826 3,426 1,545 1,376 3,426 2,921 10 Other expenditure Unrestricted Total Total 2024 2023 Christian relief & development agencies Secular charities 682 274 274 656 Diocesan parish contribution Other interest payable Employee costs Premises costs 25,714 887 25,714 887 24,000 50,164 121,673 50,164 121,673 49,470 73,411 Amortisation, depreciation, impairment, profit/loss on disposal of fixed assets General administrative costs Legal and professional costs 1,335 1,335 35,508 7,897 13,637 221,581 7,897 13,637 221,581 9,480 8,707 201,914 11 Net Income/lexpendlture) before transfers 2024 2023 This is stated after charging: Depreciation of owned fixed assets 12 Staff costs 1,335 35,508 2024 49,254 910 50,164 2023 48,261 1,209 49,470 Salaries and wages Pension costs No employee received emoluments in excess of £60,000. Page 11
The Parochial Church Council of the Ecclesiastical Parish of St George with St Anne and St Mark Notes to the Accounts 13 Tangible fixed assets Land and building5 Improvemen tsto Fixture5 & fitting5 Total propertv Cost or revaluation At l January 2024 Additions At 31 December 2024 Depreciation and impairment At l January 2024 Depreciation charge for the year At 31 December 2024 824,469 162,804 31,478 194,282 987,275 31,478 1,018,753 824,469 830,347 79,389 909,736 15,8781 7,331 1,453 824,469 86,720 911,189 Net book values At 31 December 2024 At 31 December 2023 107,562 83,415 107,564 77,539 15,8781 14 Investments Other investments Unllsted Total Cost or revaluatlon At l January 2024 At 310ecember 2024 Net book values At 31 December 2024 At 31 December 2023 41,468 41,468 41,468 41,468 41,468 41,468 41,468 41,468 15 Debtors 2024 2023 Gift Aid recoverable I,iio I,iio I,iio I,iio 16 Creditors: amounts falling due within one year 2024 2023 Other loans Other taxes and social security Other creditors Accruals 5,039 3,589 1,698 2,214 12,540 4,152 1,304 2,162 2,271 9,889 Page 12
The Parochial Church Councll of the Ecclesiastical Parish of St George with St Anne and St Mark Notes to the Accounts 17 Creditors: amounts falling due after more than one year 2024 2023 Other loans 28,117 28,117 28,117 28,117 18 Movement in funds Incoming resources At31 December 2024 (Including other At l January gains/losses 2024 Resources expended Restricted funds: Restrlcted income funds; Fabric Fund IRestrictedl 39,910 168,922 208,832 Total 39,910 168,922 208,832 Unrestrlcted funds: General funds 1100,141) 138,315 1210,3791 1172,205} Deslgnated funds: Fabric Fund 237,663 3,583 132,8251 132,825} 208,421 Total 237,663 3,583 208,421 Revaluatlon Reserves: Restricted funds: Fabric Fund IRestricted} Total 3,073 3,073 3,073 3,073 Total revaluation reserves 3,073 3,073 Total funds 180,505 310,820 1243,204} 248,121 Purposes and restrictions in relation to the funds., Revaluation reserves Represent the amount by which investments exceed their historical cost. Restricted funds.. Fabric Fund (Restricted) Oesignated funds., Fabric Fund Page 13
The Parochial Church Council of the Ecclesiastical Parish of St George with St Anne and St Mark Notes to the Accounts 19 Analysis of net assets between funds Unrestricted funds Restricted funds Total Fixed assets 24,149 41,468 19,668 83,415 107,564 41,468 127,206 Investments Net current assets Creditors due in more than one year and provisions 107,538 {28,1171 128,1171 57,168 190,953 248,121 20 Reconciliation of net debt At31 December 2024 At l January 2024 Cash flows Cash and cash equivalents 98,394 98,394 40,242 40,242 138,636 138,636 Borrowings 132,2691 132,2691 18871 18871 133,1561 133,1561 Net debt 66,125 39,355 105,480 21 Commltments Operating lease commitments Annual commitments under non-cancellable operating leases are as follows: 2024 2024 2023 Land and buildings 2023 Land and Other Other buildings Operating leases with expiry date: Pénslon eommltménts 2024 2023 The pension cost charge to the charity amounted to.. 910 1,209 Page 14
The Parochial Church Council of the Ecclesiastical Parish of St George with St Anne and St Mark Detailed Statement of Financial Activities for the year ended 31 December 2024 Unrestricte d funds 2024 Re5trlcted funds 2024 Total fund5 2024 Total funds 2023 Income and endowments from: Donations and legacies Planned giving & gift aid Collections at services Sundry donations & appeals 19,416 19,416 21,947 1,023 661 8,680 28,096 8,680 28,096 23,631 Charitable activities Church letting & hiring 5,592 1,062 6,654 5,592 1,062 6,654 3,510 70 3,580 Other trading activities Café Crypt 31,552 74,645 106,197 31,552 74,645 106,197 29,766 58,507 88,273 Investments Interest income 951 951 923 951 951 923 Other Grants 168,922 168,922 49,375 10,127 59,502 Government grants 168,922 168,922 Total income and endowments 141,898 168,922 310,820 175,909 Expenditure on: Costs of other trading activities Café 18,197 18,197 18,197 18,197 13,702 13,702 Total of expenditure on raising funds 18,197 18,197 13,702 Governance costs Independent examiner's fee Accountancv 1,600 1,826 3,426 1,600 1,826 3,426 1,545 1,376 2,921 Total of expenditure on charitable activities 3,426 3,426 2,921 Other expenditure Christian relief & development agencies Secular charities 682 274 274 656 Page 15
The Parochial Church Council of the Ecclesiastical Parish of St George with St Anne and St Mark Detailed Statement of Financial Activities Diocesan parish contribution Other interest payable 25,714 887 25,714 887 24,000 26,875 26,875 25,338 Employee costs Salaries/wages Pension costs 49,254 910 50,164 49,254 910 48,261 1,209 49,470 50,164 Premises costs Church running expenses Church maintenance 55,295 66,378 121,673 55,295 66,378 121,673 28,480 44,931 73,411 General administrative costs, including depreciation and amortisation Depreciation of Improvements to property Depreciation of Fixtures & fittings Other clergy costs Upkeep of services Bank charges and interest Telephone, fax and broadband 1,335 1,335 20,687 14,821 2,621 2,698 163 2,621 2,698 163 6,845 462 115 2,415 9,232 2,415 9,232 2,058 44,988 Legal and professional costs Other legal and professlonal costs 13,637 13,637 8,707 13,637 13,637 8,707 Total of expenditure of other costs Total expendlture Net gains on investments 221,581 221,581 201,914 243,204 243,204 218,537 3,073 Net Income/(expenditure) (101,3061 168,922 67,616 139,5551 Net income/(expenditure) before other gains/(losses) Other Gains 1101,3061 168.922 67,616 139,5551 Net movement in funds 1101,3061 168,922 67,616 139,5551 Retonciliation of funds: Total funds brought forward 137,522 42,983 180,505 220,060 Total funds carried forward 36,216 211,905 248,121 180,505 Page 16