REGisfERED CHARrrY NUMBER: 1134177 TRUSTEES. REPORT AND AiIDITED FINANCIAL sfATf MENTS FOR THE YEAR ENDED 31 DECEMBER 2023 FOR PARISH OF WIMBLEDON Jacob Cavenagh & Skeet Chartered Accountants 5 Robin Hood Lane Sutton Surrey SM1 2SW
PARISH OF WIMBLEDON CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Page Trustees. Report i to li Report of the Independent Auditors 12 to 13 statement of Flnancial Activities 14 ststement of Financial Position 15 Statement of Cash Flow5 16 Notes to the Statement of Cash Flows 16 Notes to the Flnanclal Statements 17 to 28
PARISH OF WIMBLEDON TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The Trustees present their repjrt with the financial statements of tt charity for the year ended 31 December 2023. The financial statements have been prepared in accordance with the accounting p)licie5 set out In notes to the financial statements and comply with the Church Accounting Regulations 20(, the Charities Act 2011 and Accounting and Reporting by Charities Statement of Recommended Practice aptAKabk to charits preparino theiracCnts in accordance with the Financial ReEIng Stèndafd appLi(able to the UK and RepublK of Ireland {FRS102). OBJErnVES AND ACTivrriES Aim and Purpose The PLJrw)se of the Parish of Witnbledon is to suppK)rt the missK>n and ministry of each of its four ¢hurthes in worshipping and serving God in the Parish, with and through the pwle of its congregations. Objectives and activities The PCC is committed lo enabling as many people as rA"e to bwyship at the four dIffet churches in the Parish and to 1CoMe part of the parish community. CAJr services and worship tmjt faith Into practice through prayer and scripture, music and sacrament. The 0ratIon of the four churches relEs on the significant involvetnenL suptw)rt and valuable skills and experience of volunteers. The memLErs of the KC have had regard to the (hafity Commission s guidarKe on public benefit in planning the activities of the charity. Grant5 and donab'ons are made at their discret and in accordan with the tharitable purrKJses and objectives of the Parish. ACHIEVEMENTS AND PERFORMANCE The following actwities were carried out by the PCC during the yeai: The Parish We have now run a full year ar an Annual Parixhial Church Meeting {APCMI using ¢wr new governance structures and they have served us well. We a review after the APCM. The was a discussion of the way the team was functioning at a PCC meeting after the Team Rertor vi51ted each of the Distrirt Church Committees to canvas their view5. The restx)nse to the governance structures was g(Mxl, dhoUgh questw)ns Ere raised atx>ut the value ol being a team. Managing and overseeing the Parish finances has contr"n to be a strugg. We dechled to apwint a paid Head of Finan to cover the PCC Treasurer role and to try streamline the )Dkkeeping between the churche5 and the team. Unfortunately, it has been very difficull to fiThl the rKJht person to take on the role and after a year of trying we have now agreed to get the yrk done through a contract with a kKal accountancy company. We hope that this will provide a 9(xxJ level of congstency and continuity in managing our finances, lyiwever we are still seekn.ng someone to take on the role of Honorary TaSurer and a member of the Èrc and Trustee ofthe Charity. Like many other voluntary organisatDns we are finding rt more difficult to recruit volunteers. l am very grateful to our Parish Operab'ons and Finan Manager for maintaining the tXK>k keew'ng and fillan5 over the kst year. We held a team Lent course this year led by The Revd Clive Gardner on prayer and spirituality. It was excellently aitended and well appreciated by those who participated. A sfflaller group went on to do a further course led by Clive in the summer months. There ha5 been a renewed interest in 5writuality prayer entlY and rt is good that the parish has been resrM)nding to it as well as the individual (hurches. The PCC (eIved a legacy from Jean Robertson in DrnLr 2021 to .sed for the sUPPOrt of people who 'have fallen on hard tme5, and are in need.. After discussion we agreed that the $t way to administer this was through our two church schcK>ls. We are reimburgng up to £2,500 a tertn spent by Sch1$ to suprx)rt children in need in their schi)ols. This supp(rt can range from help with sch(KJl unifortn and sh(ks to suptr"ng school lunches for those whD are not eligible for free school meals but might otherwise n< have a lunch, fcth vouchers for farnilies, 5UPPDrting children to go on schod trips who might not othemise do so. It has iEen g(MxI that we have already had other contributions to the fund from people who See the value of It and would like to suptrt)rt It. Our church sch(ds supFx)rt a very wide (m(NJratthic of thildren, and it in these tsmes of austerity to be able to 5UPPOrt some of the most vulnerable meMr$ of our l(tsl community. Finally the whole team adopted the Churchsuite system for managing electoral roles and cotnmunications with members of the congregations to ensure that we a GDPR cofflpliant. Many thanks g(> to the Revd Nils Bersweden for managing this and training members of the team in how to use this powerftjl l am sure it will be a great asset to mission and help us work in our churches and together MO effectively.
PARISH OF WIMBLEDON TRUSTEES, REPORT (continued} FOR THE YEAR ENDED 31 DECEMBER 2023 st Mary's Church We lavnched our new Mission Artii)n Plan at the end of 2022 and have seen goKKS progress on achieving our goals since then. Our first priority is to make St Mary's more vislble in the local and wider community. We have achieved two of the three goals we set ourselves in this priority and made gwd prcgress with the third. Our second Goal was to update our church webg'te and this was completed and relaunched last year. The new website has ten well r1Ved. We have moved event hire iKK>knngs enttrely online improving efficiency and booking numbers as most peop wefer doing thiThJs online. It has meant that the website is now kept up to date. The annOUn[reI5 bar helps to dirert traffic for pular events to the right page. The navigation 15 clear and the layout less cluttered. We are also getting more inforfflob.on èix)ut who is using the websts and for what. Sorne facts.. Year to Date: 29,0(X) visits, 22.(KIO unique wsitors, 58,(KY) page wews The web51te launched around this time last year and so taking frotn 1st May the growth in visits is 733% to date, 6830h growth in unique vi%tors Mobile user5 account for 60% of visits a5 oppwd to (ksktop Not surprisingly oijr top pages Homepage 19,485 Tennis Parking Iseasonal} 4,221 Facilities for Hire 3,70q This shows that our cOMroa1 leverage of the website is very imwjrtsnt. sour by Visit.. 16,467 via GrxyJle, 8,371 th'rect 89.7% visitors from UK, 3.88% from US and the others smallef ttrcentages under 1% Europe Our third goal wa5 to change the fomat of our Annual Review and to disth.bute it to our IcKal area. The new review was done in May 23. It has been a great success. It is much more visually appealin9 and acSsible than the old one and member5 of our COnga.1 delwered r( to all the hwsehoth in ¢xsr area of the parish. We have held ¥0 come and gng events in suprKrt of our first 9oal to promote Choral Evensong. These were very successful attracting large numLEr5 of participants and much larger congregatr"ons. We have offered drinks after the servi on regular oCCasn5 to bu1 a 5en* of community in the servi. Our second prlorlty Is to deepen the prayer life of the Congregation. The Prayer Group set up as part of the second goal now well established and has pr(u(ed 3 series of lovely prayer cards which have been printed. Each week in Lent an electronic version of ¢)ne of the cards has In sent to the whole con9regation. The cards have traditional prayers, texts from the Bible and prayers written by members of the group. They have greatly enhanced Lent this year and we look forward to the completKM) of the prOJt. The Pop up Prayer stations have gun. We have had a station enCraging us to pray for the worfd and its natlOn5, a Christmas themed wp up 6nd then a Lent aThJ Easter themed ¢Jne. Our third priority of achieving the A ft(ha Silver award for the church is iing lead by the the Gen Group. They are making good pro9$5 in ensuiing we achieve the award. So for they have organised.. A green walk was held on Bank Hdiday May 29th 2023. Patronal festival last August. We had a stall on the field and the main fruS was recyding. Harvest festival (ktober 1st. The 5tEaker from A Rha was a great success. We have he 3 litter rxcking events and the next one will be on April 20th. Advent 2023. The congregation was encouraged to read Nichobs Holtam's thk "Sleepers Wake" and Mandy held a discussion group in January. A water butt to collert rainwater for the flower team is in the pl]ine. The installation of PhOtovoalC panels are being investigated, by Ajan Jenkins. The church has suprK)rted Sustainable Merton by d(Mth"ng £3,694 and Juliet is planning to show a 3min video of this ILKal environmental ch3riVs wo. A green walk has been organised for Bank Hdmlay May 6th. We are confident that we will have achVed ¢xTrr g(%il of receiving an A Ra Sitver Award by the end of this year.
PARISH OF WIMBLEDON TRUSTEES, REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2023 The Iragit acctdent at The Study School in july was [lded to by St Mary's in partnership with the incoming vicar of Christ Church, who had not yet started. St Mary's he a vigil after the Incident to offer comfort and supwjrt to all those who had been afferted by the accident. We were concemed that the rnight iE particular anxiety atx)ut the return to school in September, so we trtld a 'Biessing of the Backpacks, Servi Ix) the Sunday before term began. This was very well reiVed by families with Sd1( aged children, and we are rAanning to make it an annual event. This year we have finished the repairs to the interior of the church. The [aSter is now sound and the damage to the plaster and paint work from the water Ingiess has Ien repa¢red. The previous repairs to the rcKJf and copings have ensured that the rtt)f is now watertight, ahOUgh we stsll need io ath1ress the issues with rising damp and the need for a new system to manage the rainwater frorn the roof. We also completed major repairs on the st(x)e work of the tower, whKh was danrOUSlY decayed in y)me aa$. We have now rernoved the cordens put up to ryotect the wblic from the dangef of falling masonry and have al repaired windows In the tower and 1nstalled an auto £orrertor on the tower cl(Kk. The tower (1k is now keeping good time. We are very grateful to those who have left legaCS that have enabkd us to cofflrlete thi5 work. st Johns On 15th Jan we blessed the new haSSkS wesented to us by sylv marla1. We hosted the Merton Night Shelter from 2nh Jan onwards. We heard from Sally atrM)ut the work of the Lepr05y Mission 29th Jan. Thuisday Crafbng afternoons resumed on 16th Feb. Holy Week servi5 remained steady from last year, a slight irtsease in attendance on &xKI Friday {7th April). I continue to provide (KCaSmal cover to churdEs across the area prethed at the Team servi on Coronation Sunday (7th Mavl. The Rector came to the DCC meettng on 21st May and led a fascinatiThJ discuss on the wukings of the Wimbledon Team and her review of the first year of the new Team CcM)Stitution. On Saturday 3rd June final held our k)ng-awafced ¢Jd Testament in One Day c(yJrse, iry Rev'd DerrKk Thompson (Richmond). Abo 25 attended from St John's. with Othe crmiThJ from Wimbledon churches and a few from further rield. Saturday 17th June fflarked Jr yearly &Jmmer CorKert, and it was orfft again a joy to see the church filled with so many people. We marked Michaelmas on Ctt 1st, this time IK6b"ng the Bishop of Kingston {Marb"n GainsroUghI, whc) presided and preached. OLJr yearly celebration of Bible Sunday was marked by Nils Bersweden (St Maryl whilst I wa5 invited to preach at St Marys, WitTrbledon. We held our feast of Dedication ori (kt 29th, with our guest cekbrant and preacher {Claire Whitmore, Curate of Holy Trinity, Roehampton), whilst I was invited to preach at St Barnabas, Mitcham. We continued our custom of marking All Saints on the nKming of Nov 5th. followed by All Souls in the evening. The following week (Nov 12th) brought our observance of Remembrance Sunday in the morning, with a rfOr[ance of Rutter's Requiem in the evening. As usual, we hosted the Wimble(k*) Intemhb"¢)nal Music festival from 5-26 th November. We closed one liturgical year wth the Feast of Christ the kn.ng {Nov 26th), swiftly followed by our Suc$fUl Christmas Fair (Dec 2nd). Our Carol servi (Ctc 17th) brought in g(xyJ numbers. and due to the church being double tx)oked, we had to move the Crib Service {Dec 24th) into the chLFrch hall at the Fast minute - but t worked all the better for it, with there really being 'no room at the inn.. Clergy across the country have been mulling over their Christmas numrS, suggesting trnth a recovery from COVID, but also the shift away from Midnight Mass and Christmas Day priorth'5ing attendafi at the Carol Service. We have held occasional services of DKldy DIscie5 around the Ma feasts. I conbnue to try and work out how to move forward In this area.
PARISH OF WIMBLEDON TRUSTEES, REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2023 I know that we are not alone in trying to work this out as a church. The most notable change is a handful of farnilies bringing their children to the 10=15 servi. The rnore this is done, the nmye their joyful presen with us is normalised. On 26th Jan, our conservator wsited and gave us an uplated quote to repair our attar reTedos in ho of at least holding back the further decline of the PCe. More surprisiNJty. he also in5cted the font during his visit in preparation of pairing the font cover, when he discovered that the Presen of lead oxide, rhapS from the font being cOVed for so long. Ingestion of lead oxide is an unlikely hazard, but the font was sealed for safety putpDses. We have informed our insurers, and are awaiting a quote for the repair of the font. We have kindty twn loaned a spare font by Holy Trinity. Merton, which was used on Easter Day. Protratted dixussion this matter has followed, but with no real conclusion to date. Sometirne around Nov 20th, our Co[ding system, which has wo¥ked well for over three years, decided to fail. I remain unclear as to the details, but several SeThi5 were recorded but couldnt found on the system. The system hds been completely reset, and 5erwces now apar to be online. I continue to suspect that the enbre audio 5y5tem has wn better day5 and could be replaced, and I hope to prop)se this to the DCC ir) 2024. Our mailing list has inueased from 179 to 192. Six contacts asked to LE removed. and three have died. This year our average attendance at the main servKe increased fr(xn 40 to 44. We held at least four funeralslmemrials, two weddings, a renewal of vows, and four bapi¢sms. St Matthews The purpose of St Matthew's Church is to prcKlaim the GcM)l News of GoKI's Kiogdom through worship, seNing the people of our parish, caring lor the vulnerable, advancing peace and ju5ti(e, and developing our church family as a cornmunity of God'5 Love Whe all are welcome - with no exceptions. The most significant event of 2023 was the (partU of the Rewj Dr Helen Orchard after 13 years as our vicar. Helen's last service was Easter Day, which saw over 200 people come to see her off. For the vacancy treen vicars our curate, the Revd Ala5tsir Newman, has en asked to knk after the churth. The worship life of the church has continued without Interruption, together with the usual rLsn of ¢xcasional 0e5 - bapknsms, funerals, and preparing children and adults for confirmation. Lent, Holy Week, Easter, Advent and Christmas were Maed in our (Mn particular way, St Matthew's being the only church in the area offering ArwJk*atholK worship. The scKial life of the church c(M)tinues to be imrxirtant. In March we held our annual quiz in the church hall - a sellout event that has become a fimi favourite in our Sla1 calendar. Our leaving party for Mthr Helen was held at the West Wirnbledon Bowls Club {smmediatety adjacent to the chuithl and was very well attended. Fairs in Nay and November bring many local people into the church, a5 well as showcasing the danr5 of the West WimNedon Dan Academy who a based In our church hall. Our Fair5 are 31so an essential Sour of funds to suptth the church's mission and ministry. OL5r external speaker programme continued this year, with two events fofming a mini-series titled "Spotlight on Social justi. In July we welcomed speakers from EXt110n ReLEllion, and in November we hosted an interfaith LGBTQ event, with guest speakers Rabbi Adrian Schell lof Wimbledon Synagogue) and the well-known Christian writer Revd Dr Charlie Bell. In July, St Matthew's took a paity to march with Pride in London, a fiist for the church. We a proud to display oui Pride "lollipop" at the frtsnl of the chur(h to adveth'5e our commitment to trEing an Inclusive Church. The relationship be1Nn St Matthew's Church and our sdKd has gone from StnYth to streThJth. The church and school take pride In seeing themselves as one big St MattheWs famity. Members of ihe church serve as foundation governors and help younger children with their reading, and our curate runs a weeY chess club in the schcx)l. We have continued to welcome classes frorn the sch(d to church to learn alt astEcts of the Christian faith, as well as welcoming the whole schwl land parents} for key seNices throughout the year- at Easter, HaNest and Christma5, and our Sch(1 Leavers, and Newcomers, IBlessin9 of the Backpacks) ServKe5. 2023 was also a year of change for the sch(K)I wth the headteacher, Mr Gary Quinn, stepping down at Easter to tnove abroad. The churth h65 SUPtX)rted the schwl through this transition, and the school was rated 'GooKI' in both Ofsted and SIAMS inspection5, Ults with which they were delighted. With pnmary schc(Jl rolls falling across London (by more than 20% in some Ixxoughsl, St Matthew's school has bucked the trend, with rts rdl growing by around IO% In 2023.
PARISH OF WIMBLEDON TRUSTEES, REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2023 2023 marked a first for St Matthews, with a foray into of Fresh ExpressKfflS. In June we launched a new Messy Church. run by our curate and MeMlS of the ¢gregatIOn, meetsng ¢)n ¢xcasional Sunday afternoon5 at our church schLK)l. Attendance has grown from 50 at the first to around 80 (with around hall of the attendance ioming from people who are not churchgoers at St Matthew's). Restoring the children's work at St Matthews continues to be a priority (It ha5 recovered p(K>rly aftef COVID) and we hope that the eJ¥ and enthusiasm arrM]nd Messy Church will carry into that. St Matthew's continues to run with a small deficit larn IO% of irKome) and there are plans in to address this. We have taken the decisK)n to reduce the hcxjrs of our contrarted cleaners, and have reduced our budget for additional tnusicians {a trutnFEterl for s131 services. A Stewardship Campaign is planned for 2024, arKI we have seen a gradual Increase in booking5 of our hall ar church, induding the return of the rK)pular Bach to Baby concerts. We have a number of capital projects on the horizon. Our orgaTI needs some remedial work to repair ageing Ik>W5. Our poorly Insulated church means that our heatirKJ bills are hwh, and have risen significantly in line with energy prices. We are therefore working as a church to impTove our energy eff10e, in particular l(K)king at options for replacing our ailing 1970s underftoor heating system in the church. With major sr*nding forecast in the next few years laying daim to rnuch of our reserves, addressing our oftgoing deficit iemains a hKJh PFiority. In 2023, William Varfow and Jane Jeffor(J (L¥'nUed as r chuffh wardens. and new meMr$ recruited to our Distrirt Church Council. Mthr Cyntho Jackson continues to assist presiding and preaching at setvices, and we are also delighted that she has been joined by Revd sally Leeson, a retired priest who is a member of our congregation. We said farewell in 2023 to Charfie Thompson, a Memtr[ of wr congregab.on for many years, who leaves us to train for ordination at St Mellitus College in London. In 2024, attention turn5 to the recruitment of vicar. It is planned for the new wcar to in Pl to start by September 2024. st Marks Christtnas 2023 had something in common with the year iEfore, as we had a sudden influx of 'new' people to our Midnight Service at the last minute before the Setvice Igan. Demonstrating that as a Town centre church we do attrart both the curiou5 and those WIK) remain mostly in the backoround. Though our nuMIr5 have been relativety low throLvJhout the yeor, there is a stable and commttted congregation. The mcod within the church rernains Upat and hopefully as well as encouragingly cheerful and friendly. We continue to host a great many community events, within the main trThly of the church (UpIed at different times by a variety of choirs most evenings during the week. We are still in the process of finalising a ten-year contract with the Butterfy Nursery Schcol wtrK) CUp¥ our church hall and two rLY)ms within the main building, fi¥e day5 a week. The Bishop of Kingston related h6 office to three rooms within St Mark's at the ttginning of the year and though it was pular wrth staff. they may vacate by the end of 2024, (though there is still some UnrtaInty ab(>ut thi51. There are several active church groups with consistent fflefflberships. The HouselHome group meets usually on a fortnightly basi5 to discuss either the Bible or a Christian bwk, to meet for fellowship and prayer. A questioning 5pirttuality group meets On a month to share a stimtJlatin9 reading, to ffleditate together and to dtscuss indiwdual journeys. The 15 also a reading groupi which meets MthI¥ to talk aLK)ut a set iKK)k. During the per of Lent, the vKar of St Mark's leaj a Parish wKJe cuurse on a variety of Spiritual Disciplines. The chtjrch now has its own up lo date Audo Visual system and has also ten giverb the go ahead to install new electric fan heaters to replace (Ad ones. few of which are still workn"ng. The significant news/event shortty before the end of the year, was Clive Gardener, (the Vicar's) SIgnatIon and his move to a Parish within the DioKese of Portsmouth. Clive's last servi was very well attended, wyith dtsuble the usual congregation. Clearly there 15 a wide spettrum of w)ple who have an attachment to St Mark's and an even wider group of people who make use of the tyJilding for cultuial, educational arKJ spwalist reasons. St Marks celebrated the Coronakn'on of the kn'ng wrth è lUh which the meMrS ol the l(tal Idents association were Invited to.
PARISH OF WIMBLEDON TRUSTEES, REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2023 There have been some staff changes. A new administrator was apinted in January and the long serving finance officer stwd down at the end of the year. The church decNJed to recruit a choral schdar to suK)tsrt the chojr in services and they started this year Ixjlstering the sq)rano sectn. organ has al Wn setviced. Fundraising activities Fundraising activities are monitored by the Trustees and the Charity does not employ professional fundrai5er5 or other commercial participators to raise funds. The Charity is rvjt Lwnd by any voluntsry 5chetlle or stsndard for fundraising but seeks to ensure this is carried out in an ethical manner and in accordance with Charity Comtnission guidance. In particular the Charity seeks to protect vulnerable 0p¢e and other tTtemitf5 of the public from the following.. unreasonable intrusion on privacy, unreasonably persistent approaches or placiThJ undue pressure on a rsOn to give money or other property. No complaint5 about its fundraising activits re recewed in year. FINANCIAL REVIEW 2023 results The finance of the parish in 2023 continued to a charge. Income continued to grow which is encouragit)g, however Costs also Increased, and the paiish as a whcle recorded a deficit of income over expenditure of £265,789 {2022'. deficit of £174,138). There was an overall srt1ve movement on the value of the parish s Investments of É95,817 12022.. redurtion In value of £475,871) leading to an ovelall deficit of É169.972 (2022: defiot of £650,009). Income Income again tiptkd the £lm mark. Total irKome for yeai amwnted to £1,183,298 which wa5 an increase of 8.06 from 2022 levels where income amounted to El,095,028. Theie was one significant legacy of £50,000 notified to the parish prior to the year-end whKh Iyx)5ted tnc(xne, wrthout which there wjId have been just a 3% growth year-on-year. Tab. Parish income from 2019 to 2023 2023 £1 183m +8.06% 2022 El.095tn +1.38% 2021 £1.080m +0.09% 2020 £1.079m -27.76% 2019 £1.494m Income ear before Historically, the biggest sin9le Sour of Inco for the Parish has been planned giving and the associated gift aid recoverable from HMRC. However, this givin9 fell in 2023 by 7% from £416.357 bn 2022 to £385,582. This follow5 a 14Wo drop in 2022 from levels of giving in 2021 which is an unweknme trend. (Aher voluntary giving such as weekly collections and one-off (ionabons did inctrease from 2022 levels, LKM)Sted by the Inased use of contactle55 giving terminals. Income from the letting of premises continues to i a svjnificant income Sour for the parish. both St Maik's and St lohn's such income far exdS the Ve1 of gsving and provides imp(xtant resource5 enabling those Churches to continue and develop their mini5try- It is by m means ideal for the Churche5 to heavily reliant on this income source, as was demonstrated during the ¢owd pandemic, but it remains a very imwjrtant funding stream to support the ongoing work of the Parish. Following the redurtion in planned giv¢ng, (hurch letting5 has now the largest sirrfjle incoFne source across the Parish. This derives from lettings by the four chufthes of theif buitdings halls. There wa5 a m(Klest Increase from 2022 of 5.2% wth income now Lwnd pre-tondemic levels.
PARISH OF WIMBLEDON TRUSTEES, REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2023 Table: income from eMIses, kttiThJs across the Parish 2019 - 2023 Church buildings and car parking lets Income ear before 2023 £390K 2021 £284K +51.90/0 2020 £187K -46.6% 2019 £351K £370K +30.3% Legacies have provided a welcome tKM)St to funds over the years with 2023 beirvJ rm) eXption. A total of ES1,651 was received or prom1sed during 2023 contrasting with just under £15k in 2022. It 15 always iMpant to remember that legacies are an uncertain Source of irKome not factored into annual budget5. Income from investments showed a further irKrease in 2023 as strxk markets recove further al interest rates rose. This income consists firstly of interest and dividends which amounted to £36,155 In the yea¥12022.' £27,333}. Secondly renta1 income is generated from the fouf GaIustn Flats l¢xated near to St Mark's church, car parkn.ng spaces at st Mark's nd from the Team curate's house in Thornton Road which wa5 rented all year. It should of course be rnembered that rents from Thofnlon Road cannot te regarded as rkmwrnt and expett8J to be called back Into clergy use in 2025 if not before. 2023 2022 £94 456 [27 333 £121789 +9% 2021 £90 225 121,375 £111 600 +19W. Rents Dividends and interest Total £73 071 E21083 £94 154 +16% 1 £67 457 £13 703 £81 160 £36 155 £135 389 +11% ear before Expendlture Expenditure as a whok InCaSed to £1,449,087 compared to £1.269,166 in 2022 whKkn is a substantial 14.2% increase year-on-year. As 15 the case in most financial years, the lar9est single ¢oing is the F¥rish's o)ntributson to the Di(Ke5e' Parish Supw>rt Fund. These funds are used.. to provide clergy for the Partsh. to support the administrative £05ts of running the DKKese. towards the training and development costs for the devebpment of paid and unpaid staff. to supp)rt the wider ministry of the Anglican fellowship. The Parish sent £402.687 in 2023 (2022- £399,375) to the tIcn Parish Fund, a pledge made in the autumn of 2022. This was a 0.8% increase but the overall contritxjbon remains far short of pre-CovKJ 2019 levels of £417,382. Significant sums were spent on property maintenance during 2023. This will always be a significant expense given the historic nature of the buildings being maintained. Total Maintenan costs amounted to E368,644 compared to £143,443 in 2022. Of thi5 C05t, St Mary's spent £265,454 which induded significant repairs to on the Church Tower and Church Cl(Kk with associated architects fees. St lohn's also 4)ent over £60.OC(J on repairs and improvernents. Thankfully, much of the expenditure was covered by restricted SerVeS already in hand, In particular from the Charles Eglington Bequest. This shows the Importan of legacy bequests when historic bU11g5, and the parish is very thankful to those past and present who have remem1ed the Church in their y115. Wages and staff costs was the next largest area of eXnlture In ariy year. Total staff costs amounted to £176,454 which was an Increase of 9.6% from 2022 where the c¢)st was £161,060. Church running expenses conb.nued to be hh, increasing frotll £97,732 in 2022 to I117,6[ in 2023. Utility costs (Gas, electricity, water rates etc.) were 77.9% higher in 2023 compared to 2022 ¥eflerting the large pnce increase5 seen as a result of conflirts arwnd the wor. A final area to bring to attention is the exnditre on auditing and accotjntancy. This remains a significant cost to the parish at £27,722 which is a marginal increase from the prevK>us year. We have contsnued to need to use external aS51stan for accounts ppatIon and consolidation wrth fewer volunteers ready to att a5 near full-time workers on this èrea.
PARISH OF WIMBLEDON TRUSTEES, REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2023 Unfortullately, the plan to ¢ruit a finance officer has suffered setbacks and an app)intment was unable to be secured. The Parish is grateful forthe assistan of Caladine in regard to the year end pr(Kess, arKJ for the patience of its auditors, Jacob Cavanagh and Skeet. Moving forwards. the parish has now engaged a kK31 firm of accountants to assist with day-to-day Ix)okkeeping, gUlar management accounts ar to assist at the year-end audrt preSS which it is hopEd will reduce the overall costs and provide a more cotnpreherh5ive oversfght of the finanS. Cash at Bank and Debtors Cash at Bank shrunk during the year by É193,432 to £852,779 12022- £1.(H6,2111, but this decrease was offset somewhat by an Increase in the valL of Debt{ of £49,tK)3. giving a Debt(Ks balan at year end of £149,50612022.' £100.5031. Fixed Asset Investments The investtnents at the end of 2023 were valtjed at £606,762 (2022.. E692,472). down by £85,710. There was a withdrawal from investments of É131,527 was made during the year, partly to fund work on the tower at st Mary's. The investrnents distx)sals We made at a profit from their ir¥itial purchase cost. Overall, there was a )sitIve movement on the market value of the investments of £45,81712022- reductm in value £110,871) as the stock market recovered a little of previous losses. Investment Properties Investment properties were revalued at the year end there was a small increase in market value of £50,000. This follow5 the significant redu£tion in value in 2022 of É365.(X)O. The year end valuation ankn)unted to El,700,000 12022.. £1,650,000}. The woperties were valued by a tral Chartered Sutvey. Con¢lusion of 2023 Financial Review The parish continues to operate at a significant deficit unresthrted fijnds which cover the day-to-day rLtnning costs and it is clear th1S Sltuation cannot contirkue it)definitety. It is etKouragin9 to see resources being used in the service of the Lord and his Church and to rewrt on the many ways he has blessed the ministry in oui parish. It is a ble55ing to have signifKant reserves to t atrAe to continue and grow the work. Moving fOards, the parish will Iwking to tske steps to stem the defiot to a long-term sustaTnable level to secure ministry in the years to con. Reserves policy It is the PCC policy to try to maintain a balan on unrestrited (general) reserves to ensure they cover at least three mollths, unrestritte(J payments as this Is felt to LE nesSary to 0tcommate any Unreseen fluctudtFons in income or expenditure. Free resefves at the balan sheet date arwhounted to £1.050,152 {2022: £1,143,842> which is significantly more than the rM)licy recommends. The Parish held £3.981,825 of general lindthliThJ designated funds) as at the end of 2023 {2022'. £4,085,524) and £2,580,730 (2022.. £2.647,0031 of Restricted funds. The Restrirted fund5 a held pn"marily for use ori the upkeep and maintenance of the Parish's buildings (see nole 13 for more details). Investment policv The comrnittees of the Parish and the churthes each detemiine if reseryes are to LE invested twnd holding cash in bank account which currentty delivers no very low rates of ¥eturn. An InveStr nt may be made as a result of reIving a lump sum or, if general reserves are in ex$ of what the commttees determine sh(>uld be held, a5 cash or quasi cash. Approved investments include CBF Chufch of England investment fund held at CCLA, also other funds or detxjsit accounts which May be selected from time to time and investment propErty. The objective of the Trustees is to maximise retum to the Charity, but also to preserve capital, monitoring returr15 and intended uses of the money Invested. PLANS FOR FUTURE PERIODS As mentioned aiJ)ve. the Parish Housing Projert Y4as mothballed at the end of 2022 after successfully achieving planning permission for the prowsed develotynent two new clergy IN)uses to repla the existing dwelling on the 3 Arthur Road site. The project 15 founded on the prinriple that it would involve -deploYIng Parish asset5 but will not involve taking on any debt. The decisi(N) to mothba15 the project for at least a year was taken reluctanuy but was made in view of rising building costs and reduced valuation of the Pansh's investment assets descriiEd above. St Matthew's plans to wholly chae its church heating system wrth new technobgy heat pumps. The knowledge and experience this will bring into the Parish should tsenefit all four d)urcFEs over b'me.
PARISH OF WIMBLEDON TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The PCC Is a Charity registered with the Charity Commission (see LElowl and is a body corporate incorwrated under the Parochial Church Councils (Powers) Measure 1956 further governed by the Church Representation Rules 2020. structure Governance and Management The Parish has four churches located In WimNedon atMI Raynes Park. It is part of the DeSe of Southwark within the Church of England. The correSpondere address is 30 St Mary's Road, London SW19 7BP. The PCC is a body corporate IPCC Powers Measure 1956, Church RepresentstK)n Rules 20201 and a charity regulated by the Charity Commission. The method of appointment of trc mem1r5 is based ttt Church Representstion Rules and a constitution based these nJ1es adopted in 2023. The Wimbledon Parish KC consists of the Teaffl Rector and StIndIary clergy ISn$ed tr) the beneff1, Pansh Wardens, District Churd) Wardens, tkanery Syrmxl representatwes of the d)urd)es, a Secretsry, and an Insuran Offir. The PCC members are reswn5ible for making deasions on all mattefs of general concern and irnrKJrtance to the Parish, including de£Ing on how the funds of the rfc are to be spent. Pay levels for all personnel aim to be at a similar level to those in similar employment wthin DKKe5e. The PCC met five times during the year with most memlkrs In atterance at each meeting. Each of the four churches has its own church committees, which meet regulaily thighOut year. Induction and training of new Trustees Initiated in 2022, new PCC members re1ve formal induttK)n training Sh afterioining. All PCC members are specifically urged to study the Chanty Commission 5 guidarKe for trustees and to undertake online safeguarding training in line with Diocesan rM)liry. New joiners a issued with an IntuCtOry pack explaining the workn'ng of the PCC and re5ponsibililies as members ofthe PCC immedÈately after theyjoin the Ffc. 1 Ffc mefflLErs are required to undertake basic safeguarding training. As a150 tnentioned, in 2022 PCC fflemters were given a briefing on how to sp)t and avoid fraud, something that will be repeated per11(ally. Risk management The PCC delegates risk management to 6 Stalg C(¥nmittee ownership and Maintenan of a Risk Register. The wincipal risks facing the Pansh in its 0ratM1 relate tt> [KJsSii fraud against its money held in banks, vulnerability lo IT problems and assoKiated disaster recovery, safety in its building5 which are heavity u5e(5 and the fabric of which in some cases dates back centuries. the rossibility of damaging safeguarding issues and vulnerability relating to key administrative roles both volunteer and patd. The KC lieveS it has suitable mrtigation measure5 in plate to manage these risks. Finally, Ctsvid reminds us of the risk that some extemal fartor could severely cut the hiring out of premises urA)n which such a large tX)rtion of income rests. Tlre is no ready mibgation for this other than maintsining reserves. Longer term there is a risk of decliniThJ church rnefflLErship and of fewer Voluntee adY to take on roles which Inevitably increa in onerousness owing to legislation. There is also the inevitable increase In building maintenance over the longer term as buildings age, although all four churche5 have a rigorojs inspection regime backed up by five-yeaily Independent in5pertions of the churches themselves by t)j(Kese-appted architetts to ensure where )SSIble that strurtural problems are identified early. To mitigate financial risk, the Parish maintsins an adequote level of reserves and, as a group of four churches, SUPPDrt orie another in times of need. The Parish hekl a useful balan of bank funds at the year*nd which also helps to mitigate future financial risks. In addition to these operational risks, the Pèrish is dilwJent in a.g the dirse'S procedu$ and training lating to safeguarding.
PARISH OF WIMBLEDON TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 REFERENCE ANO ADMINISTRATIVE DETAILS Registered Charity number: 1134177 Principal address: Fellowship House, 30 St Majvs Road. LoThlon, SW19 7BP Trustees The members of the Par(Khial Church Council {wlK) are also the trustees of the charity) who served in the year and up to the date of this re)rt a as set out tklow.. Officers Revd M HIgl Revd C Gardner Revd Dr S Edmonds Revd N Bersweden Revd A Newman Team Rect¢y and Vicar St Mary's Team VKar St Mark'slresigned Ilih March 241 Team Vicar St John's Asgxiate Piiest St Mary's Parish Curate Parish Warden5 Ms Jane Austin Ms S Lenon Other Members of the Parochlal Church Council Mr S Bulmer Mrs S Carter-Esda Mr L Davies M5 C Gilonis Mr N Harvey Ms l Jefford Mr E Lambert Mrs l Long Mrs A Merriman M5 A Richardson Mr W Varlow Mr M Vernell Mr P Welsh Mr N Wolff Wendy McTernan St John's St John's St Mary's St Matthew's St Mary's (resigned 16th September 20231 St Mattw'S St Mary's St lohn's St mattlw.5 st Mary's st Matthew's St John s St MatthevKs St Mark's St Marks Elected May 23, resigned 17lh June 23 st Marks Elected Ph Feb 24 Paula ThorvaTdsen Ex Officio Miss E Ziegler Mr C Esdale Mr C Bankes Insuran Offi1 Secretary Resigned October 23 Secretary Co Opted 7 February 24 REFERENCE AND ADMINISTRATIVE DETAILS Bankers National We5tmin5ter Bank 16 Wimbledon Hill Road London SW19 7NN Handelsbanken Suite 6 Rowan Court 56 High Street London SW19 SEE -io-
PARISH OF WIMBLEDON TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 REFERENCE AND ADMINISTRATIVE DETAILS {continued) Auditors Jacob Cavenagh & Skeet 5 Robin HcK)d Lane Sutton Surrey SMI 25W STATEMENT OF TRUSTEES, RESPONSIBILTTIES The trustees (members of the PCC) a spOnsIe for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingd(xn Accounting Standards {uned Kingdom Generally Accepted Accounb'ng PraLtI). The law appliCae to charities in EngL3nd and Wales, the Charities Art 2011, Charity IAccounts and Repotts) Regijlations 2008 and the provi5ions of the trust deed fequires tnjstees to prepare financial statements for each financial year which give a true and fair of the stste of affairs of the charity and of the incoming resources and application of resources, Including the income and ewknd1tU, of charity for that pEriod. In preparing those financial Statements, the trLJStees are required to sett SLI1tae accounting policies and then apply them consistenYy- observe the meth[5 and prinCipS in the Charity SORP,. make judgements a[ estimates that are reasonable and prudent. state whether applicèble accounting standards have folkn¥éd, subject to any material departUS disclosed and explained In the financial ststements; prepare the financial statements on the w"tvJ conrn basis unless it 15 inappropnate to presume that the charity will continue in busine5S. The trustees are $51ble for keeping proper Kcounting records whKh dIose wrth reasonable accuracy at any time the financia1 p)sition of the challty and to enabk them to ensuie that the financial statements comply with the Charities Att 2011, the Charity (Accounts and Rewrtsl Regulations 2(M)8 and the provisions of the Church Accounbng RegLJlations 2006. They are also resrK>nsible for safeguarding the assets of the charity and hen for taking 3$Onable step5 for the prevention and deteLtK)n of fraud and other livIaritIes. Approved by order of the board of trustees on..... Rev M Hodgson - Ti tee
Independent auditor's report to the members of the Parochial Church Council of The Parish of Wimbledon Opinion We have audited the financial statements of the Parthial Church Counol ofThe Parish of Wimbledon Ithe'prcy for the year ended 31 December 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements. irKluding a summary of signifant accounting rolicies. The financial reporting framewoik that has been applied In their preparab.on Is applicable law and United Kingdom Accounting Standard5, including Financial Reporting Standard I02.. The Financial Reporting Standard applicaue in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements.. give a true and fair view of the state of the Ffc's affairs as at 31 [knr 2023 and of its incoming resources and application of sOUrceS for the year then ended.. have been properly wepared in cOrdan with United Kingdom Generally Accepted Accounb'ng PraLtice,' have been prepared in accordance with the requirements of the Charities Art 2011. Ba515 for opinion We conducted our audit In accordance Y4ith International Standards on Audibng IUKI IISAS IUK}l and applicable law. Our responsibilities under those standards are further des(ntd in the Auditor's resrx)nsibilities fc the audit of the financial statements sertion of our rert. We are indendent of the PCC in accordan with the ethical requiremer)ts that are relevant to our audit of the financial statements in the UK. iFKluding the FRC'S Ethal Stsndard, and we have fulfilled our other ethical respc>nsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provkle a basis for our orAnion. Conclusions relating to going conrn In auditing the financial statements, we have corKluded that the Ifc memitrs, use of the going conrn bèsis of accounting in the prep6ratson of the finanual statetnents is appropriate. Based on the work we have perfortned, we have not entird any material uncertainties relating to events or condrtions that, individually or collectively, may cast significant thibt on the Ffc's ability to contr.nue as a going con for a period of at least 12 months from when the financial statements a authorised for issue. Our responsibilities and the responsibilities of the PCC MeMr5 with resW to l[j concern are descrittd In the relevant sections of this rerx)rt. other information The other InformatK>n comprises Ihe information included in ihe annual rew)rt, induding the PCC members, rerx)rt, other than the financial statements and our auditor's retx)rt thereon. The PCC eMr5 are restK)nsible for the other information contained wbthin the annual reFK>rt. Our opin¥)n on the financial ststements d(s not cover the othe¥ information and, except to the extent otherwise explicitly slated in our rt, we do not express any form of assurance conclusion thereon. Our SponsIbl11 is t(> read the other information and, in thjing so, consider whether the Ither Information Is material 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 incon51Stencies or apparent fflaterial 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 rTraterial misstatement of this othe¥ information, we are required to report that fact. We have nothing to rep)rt in this wavd. Matters on whlch we are required to report by exception In the light of the knowledge and understanding of the KC and its environment otrkait*d in the Course of the audit, we have not identified material misstatements in the r£c memLErs' reKM)rt. We have nothing to report in resrkrt of the folk)wing matters in relab.on to whh the Charitie5 (Accounts and Rewrts) Regulations 2008 requires us to report to you if, in our opinion.. adequate and proFEr accounting records have not been kept, or retums adequate for our aud have not been re1Ve from branches not visited by us; or the financial statements a not in agreement wth the acJnIlng rec(Yds and retums; OT rtain disclosures of PCC members. remuneration specified by law a not made; or we have not reiVed all the infomiation and explanations we require for our audit. Responsibilities of the PCC members As explained fflore fully in the PCC members. resp)nsibilitie5 ststernent, the PCC meMrS are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. and for such internal control as they determine is necessary to enable the preparation of finanual statements that are free from material misststement, whether due to fraud or error. In preparing the financial statements, the r£c a rK)nsible for assessing the PCC'5 6bs.lity to contsnue as a going concern, disclosing. as applicable, matter5 related to going conrn and usiNJ the going c0firn basis of accounting unless the PCC member5 either Intend to liquidate the PCC or to cease operations, or have no realistic alternative but to do so. -12-
Independent auditor's report to the members of the Parochial Church Council of The Parish of Wimbledon (continued) Audltor's responsibilities for the audit of the financial statements We have been aptK>illted as aUdr under Sect 145 and rewrt in acu)rdarKe wth ihe Act and relevant regulations made or having effect thereL5nder. Our objertives are to obtain reasonabk assurnrKe alK)ut whether the finarKial statements as a whole are free from material misstatement. whether due to fraud or erior, and to issue an auditor's report Ihat includes our i)piniDn. Reasonable assuran is a high level of assurance. but ts not a guarantee that an audit condutted in accordan wf(h ISAS IUKI will always detect material misstatement when it exists. Misstatements can arise from fraj or error and are considered material if, Individually or in the aggregate, they COU reasonably expEtted to influe? the eronomic (Jeasions of users taken on the basis of these financial statements. The extent to which our prtxedures a capable of detecb.ng iryegularrties, induding fraud is detailed tlow'. Based on our understanding of the charity, we identsfied that the rKincipal risks of non-compliance with laws and regulations related to employment, financial reporting legislation and health and safety regulations and we considered the extent to which nor)-compliance might have a material effert on the financial statements. We also considered those laws and regulation5 that have a direct Impact on the ParatIon of the financial statetnents such as the Charth"es Act 2011. We assessed the susceptibility of the charity's financial statements to mateiial misstatement, induding obtaining an understanding of how fraud might (cur, by makn.ng eUIrieS of management, cons#lering the internal controls in place and discussion amongst the engagement team. We determined that the principal risks were related to Irhcorrect reLKxJnitwJn of legacy income, managetnent bias in accounting estimates, valuation of property, presentation of separatety disc105ed itetn5 and management override of controls. In response to the risks identified we designed procedures which included, but We not limited to reviewing all information available on legacy income and asking for updates on any further informatK)n right up to sign off, challenging significant accounting estimates such a5 valuation of F¥operty, agreeirYJ financial statement disclosu5 to under1ng supporting dDcumentation, identifying and testing journal entries, reviewing PCC meeting minLrtes and evaluating the chanty. internal controls. There are nhent limitations in the audit pr¢xedvres descriLEd aiK)ve. The removed that laws and regulatiws are frotn financial transartions, the less likely it is that we WOU itcome aware of non-comlanCe. Material misstatements that arise due to fraud can be harder to detect than those that aiise from error as they may involve deliirrate concealtnent or (ollusrn. A further description of our re5wn5ibilities for the audit of the financial statements is l(oted on the Financial Reporting Council's website at.. Iwww.frc.org.uklauditorsrestxJnsibilities]. This descripb.on forms part ol our auditorfs pOrt. Use of our POrt This [KIrt Is made solely to the PCC memirs, as a iKKly. in accordan Part 4 of the Charrttes (Accounts and Rerts) Regulations 2008. Our audit work has Iken undertaken so that we fflwjht state to the PCC members those rnatters we are required to state to them in an auditorfs rep)rt and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ffc the KC memLErs as a bcKJy, for our audit work, for this report. or for the opinions we have formed. JoLth, &L4Étr Ja¢ob Cavenagh & Skeet statutory Auditor Chartered Accountants 5 Robin H(K)d Lane Sutton Jrrey SMI 2SW Dated.. Jacob Caven¢tyh & skeet1se1Its/e forapWntnits auditor ofthe *fcby wrtue ofits e/111tyf0raPOtnntas auditor of a company under5ett 1212 ofthe CL¥Tr&vn5Art2I1I5. -13-
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PARISH OF WIMBLEDON srATEMENT OF FINANCIAL POSITION 31 DECEMBER 2023 2023 2022 Notes Fixed assets Tangible assets Investments Investment propErties 3,327,057 606,762 1,700.000 3,351,842 692,472 1,650,000 5,633,819 5,694,314 Current assets Debtors Cash at bank and in hand io 149,506 852,779 100,503 1,046,211 i.(X)2.285 1,146,714 Creditors.. Amounts falling due within (ffte year li (73,549) (108,501} Net current assets 928.736 1,038,213 Net assets 12 6,562,555 6,732,527 Funds Restrirted Funds Designated funds Unrestricted Funds 13 13 13 2.580,730 337,150 3.644,675 2,647,003 358,405 3,727,119 Total funds 6,562,555 6,732,527 The financial slatements We approved by the &)3rd of Tmstees and authorised for issue on 1%....*19... and were 51gned on its LEhalf by.. M Hodgson - Truste The note5 (Mi p4es 17.28 fortTh pt of tse final staternents -15-
PARISH OF WIMBLEDON STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 Notes 2023 2022 Cash flows used In operating activities (460.348) 1106,1721 Cash flows from investing activities Purchase of tangible fixed assets Pkjrchase of fixed asset investments Dividends and rent from investments Proceeds on disposal of fixed asset investment 129,0061 (1,2491 121,789 150,0(KI 135,389 131,S27 Cash flows from investing activities 266,916 241,534 Net (decrease)lincrease in cash (193,432) 135,362 Cash brought forward 1.046,211 910,849 Cash carried forniard 852,779 1,046.211 RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACllVITIES 2023 2022 Net expenditure 1169,972) (650,009) Adjustments for.. Depreciation Ds'vidends and rent from investments IGainslllosse5 on investments Ilncreaselldecrease in debtor5 Decreasellincreasel in credrtors 24,785 1135,3891 195,817) 149,0031 (34,9521 24,639 1121,7891 475,871 127,837 37,279 Net cash used In operating activities {460,3481 (106,172) ANALYSIS OF CHANGES IN NET FUNDS At 111123 Cashflow At 31112123 Net cash Cash at bank 1,046,211 1193,4321 852,779 The txrte5 Pa4es 17.28 frAm rA*t of these final 5tatema)ts -ifv
PARISH OF WIMBLEDON NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES Basis of prepariny the financial statements The PCC Is a registered charity with the Charity Commission of England and Wales. with registration number 1134177 and Is a dY corpDrate incorporated under the par¢hl Church Councils {Powersl Measure 1956, with its registered office at Felbwship House. 30 St Ma5 Road, Wimbledon. London 5W19 7BP and is a public itnefit entty ullder FRS 102. The Parish Accounts cotnbine the accounts of the General Par(hla1 Ftjnd, the Galustian Trust and the accounts c>f the four Churches after eliminating transartH)ns between them. The accounts include transactions, assets and liabilities for which the Parochial or Church Cixjncil can held resw>nsible. They do not include the accounts of church groups that owe an affiliation to another bLxJy nor tse that are infomial gathenngs of Church mernLErs. The financial statements have been prepared under the ChLbrch Accounting Regukitions 20(b and in accordance with the Chaiities SORP IFRS 1021 'Accounting and RepKVting by Charities.. Statement of ReComnded Practice applicable to charities preparing their accounts In accordan with the FinarKial RerXjng Standard applicable in the UK and Republic of Ireland IFRS 1021, Financial Rerx)rting Standard 102 The Financial Rew)rtirvJ Standard applicable in the UK and Republic of Ireland, and the Charitles Art 2011. The finanoal statements have LEen prepared under the historical cost convention with the exception of investments ¥•A)th a èt market value. The financial statement5 are prepared in pounds Sterling rounded to the nearest [nd. Going Concern The financial statements have ppared on a wng cuncern basis as the Twstees believe that no material UnrtaIntieS exist. Income All Income is recognised In the Statement of Financial Activities On the charity has enbvement to the fund5, It Is probab that the Income will be received and the amount can be measured reliably. li) Cdlertions and Gift Aid donations are re((MJnised when rereived. lil) Income tax recOVerae on Gift Aid donat5 is recognised wher) claimable. liiil Grants and Legacies are accounted for as 9x)n as notificatKJn 15 reiVed of the likely amount due. livl Funds raised by fetes or similar events and the sale of iK)oks ar fflagazines, including advertisements in the Review, are accounted for gross. Iv) Fees for wedding5, funerals etc. are accounted for on an event-try-event LK4sis. Ivil Income frotn the letting of church halls is accounted for when earrEd. Investment income lil Dwidends and Interest are accounted for wtrn due. lill Rental Income from the lett5ng of church prernises is accounted for when eame¢J. lili) Realised gains or losses are recognTrsed wherb investnnts ale sold. Unrealised gains or losses are accounted for on revaluatK)n of investments at 31 [knmr. Expenditure Liabilities are recognised as expenditure as soon as ts*re is a legal or constructive OtigatIOn commtting the charity to that expenditure, it is p¥obable that a transfer of ecorKbffliC benefits will be required in settlement and the amount of the obligation can be measured reliably. ExrEnditure is accounted for an accruals bas and has tren classified under headings that aggregate all cost related to the category. Wheie costs cannot te dIrert attfibuled to particular headings they have been allocated to activities on a basis consistent wrth the use of resources. Grants and donats"on5 are accounted for when paKI, ¢y when a binding obligation is ueated. The Di0$an Parish Support Fund is COunted for when payable. Irrecoverable VAT Irrecoverable VAT Is charged against the eXpendU[e heading for which it was incur. Taxation The chanty is exernpt from tax on its charitsble activitie5. -17-
PARISH OF WIMBLEDON NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES- continued Consettatedl3ndBndbuildingsandmoyable churdp Consecrated and beneficed property ts excluded from the accounts by the Charities Art 2011 settion 10121. All Mairntenan expenditu Incurred during the year consecrated and beneficed propety is written off as expenditure In the SOFA. Movable church furnishings held by the Rertor and Parish Wardens on sla1 trust for the KC and which require a faculty for dISSaI are accounted as inalienable proty unless consecrated. They are listed in the Church ir)ventories, which can LE inspected (at any reason8Ne time). Inalienabk protErty acquired before 2001 is not valued In the accounts as there is insufficient cost infortnation available. The tW5tee5 consider that the fair value ol the Inalienable property acquired befo 2(X)I connot be obtsined without un¢Jue cost efftjrt to the Pansh. Otherfixedassets Other fixed assets, costino nK>re than £l,O(Kl, a recojnised at cost when broht into use. The initsal carrying value of a tallgible fixed asset reiVed as a ijift or ¢bnatn is its fair value on the open market lor the trustees best estirnale IhereoQ as at the date of gift. This is then its deemed historical cost. Where reliable historical cost Information is not available, and the opportunity to include these at a deemed cost on transition to FRS 102 was not taken, the reasons for this and further information on such assets is disclosed below. No depreciation is provided on fehOld land. No depreciation is provided on buildings where the Ffc has adopted a of tnaintaining properties to a standard that prolongs their INes ar enhances their res>dual values. Where ttrir currently esbmated resklual value Is not less than their carrying value, depreciation would immaterial. Other assets a depreoated on a straight-line basis over their usefvl life which varie5 from 50 to 3 years. Houses, dpurch hallsèndland The PCC owns four freehold residenttal propertS. These are included at C05t or (leetned cost. No depreoation is provided on these buildings as their estimated resKJual value 15 not le55 than their carrying value. The PCC has built three halls: st Matthews Church Hall (bul in 20041 tMJihliThJ is iluded at cost a1 depreaated at 0%. The Parish also owns the land on which this built, which is not valued in accounts as no cost records are available. St John's Church Hall (rebuilt 20161171 is irKluded at cost and depreoated at 2% straight-line. The DicKese owns the land on which this is built. St Mark s Church Hall (built in 1954) is not valued in the accwnts as no cost records are available. The hall Is used by a nursery and some other groups during the week and can be hired for private use. The Parish also owns the land on which this is built, YA)ich is not valued in the accounts as no c05t Tecords are èvhilable. The PCC has built two halls on land it was gifted (wnethip of in 2(KJl. The land is recognise(5 at the fair value when gifted. The buildings a cognised as follows.. st Mary s Garden Hall IbuTIt in 2002) is Included at cost and depreaated at 2% straight-line St Mary's Fellowship H(yJse (built in 19741 is not value(l in the acc¢xJnts as no cost records are available. The hall houses the Parish offi and 55 used as a nursery during the week. The Spa is also available for wivate or Par15h use. The PCC also owns St Mary's field which is val¥Jed in the ac¢(xJnts as no cost records are available. Regarding St Marks Church Hall building and land, St MattheWs Chufch Hall land, St Mary's Fellowship House building and St Mary's field, which are not valLd in the accounts, any 9¥nO1 costs are unlikely to be material or would already have been deprecrated to an imtnatefial carryiThJ value. Fixed asset investments and Investment property Fixed Asset Investments are a form of basic financial instrunEnt and are initially recognised at their transaction value and subquently measured at their fair value as at the balarbce Sheet date using the ftjnd mana9ers' valuats"on5. The Parish does not acquire pijt options, derivatives or other c¢)mplex financial instruments. Investment prortY is shown at fair value as at the balan sheet date. The 5taiement of finanaal activitEs iKKludes the net gains and losses arising on revaluations. Pension costs and other post-retirement benefits The charity operates a defined contribution pension scheme. Contrrbutions payab to the charity's pension scheme are charged to the Statement of Financial Activities In the pen(xl to Y4hich they ¥elaie. -18-
PARISH OF WIMBLEDON NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES- contlnts Fund accounting General funds represent funds that are not subjert to any restrictions regarding their u and can be used in accordance with the charitable obiectives at the discretion of the trustee5. Designated funds are unrestricted funds which have been sel aside by the trustees for soriC purtK)5e5. Restrirted funds can only be used for partKular restrirted purwses within the obietts of the charity. Restrictions arise when S)rIed by the orwhen funds are raised for particular restricted purpKises. Details of restricted funds are shown in Note 13. Endowtnent funds are funds, which require the capital to be kept Inlart, and only the Income generated by those funds can te used, either for gener31 or st[Itted purposes. The income frotn the property held by the Galustian Twst is to used for such ecdesiastical purr)Dses as the PCC may ffom time to time ttermine. Financial instruments Amounts owed to the General P3rcKhh?l Fund or to the Churths at 31 DeceMr in restEd of fees, rents or other income are shown as debtors less any provisi for arnlnts that may prove irrecove¥able. Short terrn deposits include cash held on deposit either with the Central PAJard of Finan at the bank. -19-
PARISH OF WIMBLEDON NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2023 INCOME FROM Unrestricted funds Restrirted funds Total 2023 Total 2022 2(a) Voluntary income Gift aid donations Incorne tax r0Verable LegaCS Grants Donations, appeals etc. Collethon5 301,685 76.051 1,651 5,085 5,743 2,103 50,000 52,079 6,427 557 307,428 78,154 51,651 57,164 6,427 41,949 337,564 78,793 14,994 15,198 3,315 36,314 41.392 425,864 116,909 542,773 486,178 2[b) Investment income Rents e1Ved DNidends and interest from investments 43,169 29,089 56,065 99,234 36,155 94,456 27,333 72,258 63,131 135,389 121,789 2(c) Church activities Church hall income 389,642 16,119 389,642 16,119 370,212 12,999 Fees received 405,761 405,761 383,211 2{d) Other fund raising activities Feles, bazaars, concerts etc Tennis fortnight 12,490 60,824 7.972 20,462 60,824 16,972 56,927 73,314 7,972 81.286 73,899 2{e) other income ScKial Activ"e5 16,813 1.276 16,813 1,276 23,000 6,951 Other irKorne 18,089 18,089 29,951 Total income 995,286 188,012 1,183,298 1,095,028 -20-
PARISH OF WIMBLEDON NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2023 EXPENDITURE ON Unrestricted Restricted fund5 funds Total 2023 Total 2022 3(a) Raising funds Fundraising activities 4,451 4,451 6,254 3(b) Church activities Wages ScKial security Pensions 165,378 8,250 2,826 20,416 402.687 61,797 57,199 105,192 64,332 5,959 58,705 10,709 34,221 8.705 165,378 8,250 2,826 27,471 402,687 61,797 57,199 117,609 64,332 10,554 368,644 24,785 34,221 8,705 150,814 6,993 3,253 14,436 399,375 63,184 65,950 97,732 36,152 14,691 143,443 24,639 151,665 8,809 Charitsble contribution5 Parish Support Fund Crg¥ and staff expenses Clergy housirMJ Church running exrEnses Church utilities Church Mission exFEn5es Property maintenance Depreciation Church hall expenses Church hall utslrt*s 7,055 12,417 4,595 309,939 14,076 I.6,316 348,082 1,354,458 1,181,136 SupIrt costs Insurance 31,380 12,358 4,434 702 31,380 12,358 4,434 702 27,246 11,320 4,372 91 Printing and siationery Telecommunications Payroll administration Other church running eXnSeS 13,582 13,582 11,388 62,456 62,456 54,417 Audit and accountsncy 27.722 27,722 27,359 Total church activities I.6.554 348,082 1,444,636 1,262,912 AUDITOR'S REMUNERATION The auditor's MUneratIon (defined as the amount e1vable by the auditors and hence excluding VATI atnounled to £9,500 in the current year12022= £8.8(KJ}. In ath11tn. the auditors ejVed £2,35012022: £3,800) for provision of other accounbng services. -21-
PARISH OF WIMBLEDON NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2023 TRUSTEES. REMUNERATION AND BENEFITS The Rector, team Vicars and Curate, as Offi hdders of the Church of Errfjland, are partl a stipend by Southwark DicKese and provided housirYJ either by the Ffc or by Southwark Di(Kese. The PCC contributed to the Diocese towards clergy stipends as follows: Rev N Bersweden E21,35812022.' £20,084) and Rev S Edmd5 £19,76512022.' £20,167). The PCC contributed £20,726 to the Di(tese in 2022 for housing of Rev A Newfflan {2022.' £24,421). Revd H Orchard, Revd N Bersweden. Rev C Gardner and Revd Dr S Edmonds were provided with housing by the PCC. 7 {2022.' 71 mem1r5 of the Ffc were reifflbursed expenses for travel. hospitalty and training costs and sundry reimbursements relating to their work for the trc totalltng £1 1,799 {2022: £ 14,382). Three PCC members received minor honorana for providing streaming of thurch serv5 and bellringioglchoir duties. These totalled £1,96012022'. PCC members totalling É8301. Swjses of two ofthe r£c rnemiErs r1Ved £9,276 for music director and organist setvices12022.' spouse of one mem[ receNed £200 for organist SerVi)- A close fatnily relative of one of the PCC Members received £685 for propeity management seNisI2022= nil). No members of either the ParcKhial Church cour&1 or Church Committees received any remuneration or reimbursement of expenses relating to their role as a PCC or Church Committee Merntr. There were no other trustees. remuneration ¢x other benefits for the year ended 31 December 2023 for the year ended 31 DecemtrEr 2022. STAFF COSTS 2023 2022 Wage5 and 531aries Social security costs Other pensh)n costs 165,378 8,250 2,826 150,814 6,993 3,253 176.454 161,060 The average mnthfy numiEr of empbyees durirmj the year wa5 a5 folbw5.' 2023 2022 Adminsstrators Youth workers Vergers li No eNnpk>yees recewed enKluments in excess of E60,(KK). TANGIBLE FIXED ASSETS Plant and machinery Fixtures and rittings Property Totals COST At l January 2023 Additions 3,662,675 28,387 8,500 3,699,562 At 31 December 2023 3 662 675 3 699 562 DEPRECIATION At l January 2023 Charge for year 327,265 11,955 8,500 347,720 At 31 Qecember 2023 372 505 NET BOOK VALUE At 31 Detrmber 2023 3312 759 3 327 057 At 31 [)rnber 2022 3 335 410 3 351842 -22-
PARISH OF WIMBLEDON NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023 FIXED ASSET INVESTMENTS 2023 2022 Fair value Al l January 2023 Purchase of investments 692,472 952,094 1,249 (131,5271 1150,0(K)) 45,817 1110,8711 Sale of Investments Unrealised gainl{10s5) At 31 DecernLEr 2023 606,762 692,472 2023 2022 Value Value GeneralP3rorholfvnd 7,197.06 The CBF Church of England Investment Fund 48,200 M&G CharifurKJ 4,1(M) AYA Framlington UK Select OprKJrtunits Stmarks 130,957 28,428 75,235 148,590 29,112 76,670 1,299 12 The CBF Church of EnglarKJ Investment FuThJ 6,355 26 The CBF Fixed Enterest Securities Furnl Stmarys 13,108.25 The CBF Church of Englan(S Investment Fund 13,374.42 The CBF Church of England Investfflent Fund 298.90 8lacki(tk Charitie5 UK eorKJ Fund 85.00 M&G Land Trust ).00 M&G Charifvnd 29,367 9,199 26,822 8,682 135,339 197,017 123,608 276,127 436 1,249 1,176 1,220 606,762 692,472 All investments are carried at their fair value. Unrealised gains for the year were £45,817 {2022: k)sses of £110,871). There were additions of £nil durirwj the year {2022'. É1.249) and disrKJsals of £131,52712022- £150,tKJoi. INVESTMENT PROPERTY Falr value At l January 2023 Revalualion 1,650,000 50,000 At 31 DeMr 2023 1,700,000 Investment properts We valued at 31 t)ecemter 2023 at El.7m by a I1 Chartered Sutveyor. -23-
PARISH OF WIMBLEDON NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2023 io. DEBTORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 2023 2022 Income tax recoverable other debtors and prepayments 27,391 122,115 34,539 65,964 149,506 100,503 ii. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Other credfcors and accruals 73,549 108,501 73,549 108,501 12. ANALYSIS OF NET ASSETS BETWEEN FUNDS Designated funds General funds Restricted funds Total 2023 Tangible fixed as*ts Investments 2.930.569 409,745 376,806 (73,5491 396,488 1,897,017 288,329 3,327,057 2,306,762 1,002,285 173,5491 Current a55ets 337,150 Current liabilities 337,150 3.643,571 2,581,834 6,562,555 Designated funds General funds Restricted funds Total 2022 Tangible fixed assets Investments 2,941,682 416,345 477,593 (108,501} 410.160 1.926,127 310,716 3,351,842 2,342,472 1,146,714 {108,5011 Current assets Current liabilities 358.405 358,405 3.727.119 2,647,003 6,732.527 -24-
PARISH OF WIMBLEDON NOTES TO THE FINANCIAL sfATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2023 13. MOVEMENT IN FUNDS Gains1 (105ses) At Transfers 31112123 At 111123 Income Expenditure Restricted funds Galu5tian St Mary's Henry Haygarth Spire Garden Hall Bazelgetle Fund st John's St Matthew's Parish Warden Fund Parish Chantable Giving Fund Charles EglIThJt) bequest 1,830.558 92,6(K) 1,?80 3,843 413,806 s6.(5 53,793 158 1,936,623 140,909 1,853 (5.4841 185) (3,843) 114,076) 399,730 940 23,440 6,623 2,710 940 22,052 37,097 4,116 4,505 24,683 2,507 2,2 (60,392) 13,995) 21.398 21,458 237.3(KJ 48,546 {2(,292) 20.890 46,444 2,647,003 188,012 1348.082) 70,805 22,992 2,580,730 Designated funds St Matthew's Legacy Ftjnd 691 357,714 691 336,459 (1,255) (20,OLMJ) 358,405 {1.255) {20,0(KJI 337, 150 Unrestrirted funds General 3,727.119 995,286 (1,099,750) 25,012 {2,992) 3,644,675 Total funds 6,732,527 1,183,298 (1,449.0871 95,817 6,562,555 -25-
PARISH OF WIMBLEDON NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2023 13. MOVEMENT IN FUNDS Gainsl (losses) At Transfers 31112122 At 111122 Income fxpenditure Restricted funds Galustian St Mary's Henry Haygarth Spire Garden Hall st John's St Matthew's Parish Warden Fund Parish Charitable Gwing Fund Charles Eglington Lwuest 2,139,758 252,381 1.845 8,643 427.478 38,421 2,746 4,611 55,800 7.285 118 954 1365,IXIO) 1,830,558 92,600 1,780 3,843 413,806 37,097 4,116 4,505 (142,6081 (24,458) (183) 15,7541 (13,672) (14.206} 12,882 1,370 (2,106) 17,977 3.421 21,398 305.036 4.638 {35.718) 136,6561 237,31KI 3,198,896 88,468 (214,0641 (401.8391 124,4581 2,647,003 DÈslgnated funds St Matthew's Legacy Fund 691 389,653 691 357,714 5,573 117.512) 120,tXKJ) 390.344 5,573 117,5121 120,(KJO} 358,405 Unrestricted funds General 3,793,296 I,(X)0,987 11,037.590) {74,032) 44,458 3,727,119 Total funds 7.382,536 1,095,028 (1,269,166) 1475,871) 6,732,527 GENERAL FUND This fund represents the funds of the Ffc which are not subject to restrictions on their use. The funds are available for general purposes. DESIGNATED FUNDS st Matthew's Charitable Giving A proportion ol the Inctsme ol the church each year is alk(ated for charitable giving arKI the undistributed balan has been reclassified in the current yea¥ as a separate designated reserve. This will l dTrsbur5ed as suitable projects are identified. St Mary's Legacy Fund Legacy receipts are transferred to a sepaiate ¢Jesignated fund f¢y use on srEcifK wo)ects. RESTRicfED FUNDS (l) The Galustian Trust Fund The income from this fulld, the assets of whh We gifted to the Parish, is available to te used for general ecclesiastical purposes and for the maintenance of the Galustian garden at St Mark's church. -26-
PARISH OF WIMBLEDON NOTES TO THE FINANCIAL sfATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2023 13. MOVEMENT IN FUNDS (continued) {2) St Mary's Restricted Funds: {1} The Development Fund For capital projects under the banner of Renewal, to include Ih ihe repair and enhancement of existing structures. Capital assets of £24,458 we wrchased and Ihe transfer in 2022 refietts this. (ill Charles Eglington Bequest For the Development fund, at the discretion of churchwardens of St Mary's d)urch, to used to maintain and improve the external and internal fabric and accesx)nes of the buikjing. (iiil The Spire Fund This fund has been set up to marwge fiJThls taised for the repair of St Matys church S. (iv) The Garden Hall Fund This fund represents the funds raised and 5PElIt on the St. Marvs Garden Hall. (vl The Henry Haygarth Bequest Fund This fund presents the assets of Ihe Haygarth PensK>n Trust, was established undef the will of Henry Haygarth, a former Vicar of St Mary's In I907. Its pu1$x is to provide a 5)n to kn rM)N ladies of re(Suced circumstances of not less than 60 years of age memirrs of the Church of EThJland". (vil Bazalgette Fund The fund represents monies donated to maintain the Bazalgette monument. The PCC has now transferred the maintenance of the monument lo'Heritages and Habitats. charity and so also transferred the funds raised fDr the repair of the monument to them. This was pakl in 2024. In 2022 funds eamiarked f Maintenan of the Bazalgette monument held by the Parish were transferred in error to Unrestrirted Funds. This error Ling hlentified, the fur balan £940 was lstated by way of a transfer from unrestricted funds. (3) St John's Restricted Funds St John's restricted funds congsted of the folk)wiThJ- (i) The Choral Scholarship Fund {iil The Lighting Fund {iii} The Organ Fund A transfer was made duritvJ the yeor fr¢Jffl ur)restrfftd funds into the Lhts'ng Fund to cover the deficit. (4) st Matthew's Restricted Funds St. Matthew's restricted furth conssted of the follo.ro: {il The Organ Fund lill The Hall Fund (iii) The Jubilee Fund livl The Incumbents Board Fund {vl The Vestments Fund {vil The Charity Fund (5) The Parlsh Warden Fund This fund represents annual donattons from Henry Smith Charity, which are to be used for the elderly, needy and homeless of the drish. This fund ss administered by the Parish Wardens. (6) The Parish Charitable Giving Fund This fund comprises a legacy left to the Parish to assisi the rxKJr of the Pallsh. -27-
PARISH OF WIMBLEDON NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDEO 31 DECEMBER 2023 14. EMPLOYEE BENEFIT OBLIGATIONS As deSCrid in note l. the Parish operates a defined c¢MtTibution nsiOn scheme. The pen%on cost represents contributions payable by the Parish on behalf of individual employees and amounted to £2,826 {2022.' £3,253). These contributions are invested separately within each emoYees, own rSOnal scheme and are therefore separate from the Parish's assets. 15. RELATED PARTY DISCLOSURES There were no related party transattK)ns for year ell(d 31 DeCeMr 2023 or the year ended 31 Dember 2022, expt as disclosed in Note S. The Parish considers it5 key managernent nnel to comprise the offKers of the Par(Khsal Church Council and rtain other persons with reS)nSibIlitieS related to the affairs of the Parish or churches. 16. ULTIMATE CONTROLUNG PARTY The charity is under the contrd of the PA)ard of Trustees. 17. OPERATING LEASES At the year end the charity had outstsnding commitments for future minimuwn lease payments under r)n-Can11ab1e 0ratIng leases, whKh fall due a5 fdlows.. 2023 2022 Within one vear Between two and five veaT5 2,230 4.460 2.230 6.690 6.690 8.920 Lease oovments 0]nised as an exDense 2.230 2.230 -28-