Charity number: 1134394 THE PCC OF ECCLESIASTICAL PARISH OF ST GEORGE THE MARTYR, QUEEN SQUARE WITH HOLY TRINITY, HOLBORN AND BARTHOLOMEW UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Gsfd&co Griffifl Sronts Mosciop & Co 100 YEARS
THE PCC OF ECCLESIASTICAL PARISH OF ST GEORGE THE MARTYR, QUEEN SQUARE WITH HOLY TRINITY, HOLBORN AND BARTHOLOMEW CONTENTS Page R6ference and administrative detalls of tha Charlty, Its PCC members and advlsers Trustèes, report Independent exarniner's r8POrt Statemènt of financlal actlvities Balance sheet Notes to the flnanclal statements 9-23 Grlffin Stone Moscrop & Co cHAlTEDc0LlRFGSTEREDNltM
THE PCC OF ECCLESIASTICAL PARISH OF ST GEORGE THE MARTYR, QUEEN SQUARE WITH HOLY TRINITY, HOLBORN AND BARTHOLOMEVI REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS PCC MEMBERS AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024 PCC members Jamie Haith, Rector Peter Howarth Shaun Port, Church warden Ch8h Kuan Tai Ben Towers {resigned 12 May 2024) Sally Jones, Church warden (resigned 12 May 2024) Jack Driv6r-Szekely Linda.Alexander David Hilborn (appointed 22 January 20241 Sheila Daibo {appoint8d 12 May 2024) Charlty reglstered number 1134394 Principal offlGe St George's Church 44 Queen Square London WC1N 3AH Accountants GrifFin Stone Moscrop & Co Chartered Accountants 21.27 Lamb's Conduil Street London WC1 N 3GS Page 1 Griffin Stone Moscrop & Co 044RtEPEDACcCUITbP4TS®STEDAuCxT
THE PCC OF ECCLESIASTICAL PARISH OF ST GEORGE THE MARTYR, QUEEN SQUARE WITH HOLY TRINITY, HOLBORN AND BARTHOLOMEW TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees present their annual r&port together with the financial slatemenls of the Charity for the year 1 January 2024 to 31 December 2024. Objactlves and a[vItIeS a. PollGles and objectlves The parish church of Saint George the Martyr, Queen Square sils 'at the heart of London with London on its heart,. Our vision is to reach oul with kindness, compassion and crealivity, introducing all those who live, work and play in central London to Jesus Christ and his love. The worshipping community is the most biblical and most effective way of doing this, and it is our delight and honour that this community gets to worship in a truly stunning building. Established as a parish church in 1723, our building remains a hav@n cf peace and beauty, sanctuary amidst the bustle of mod8rn lrfe. We believe that OV8r 300 years of Christian worship on one sile is very 8pecial,' our heartfelt prayer is that the congregation will grow in its size and maturity, and the building be restored in it5 splendeur, b. Charitable status and publlc beneflt Th@ PCC ha5 considered the Charity Commission's guidanc8 on public benefit and, in particular, the specific guidance on charities for the advancement of religion and is satisfied that the aclivilies of Saint George the Martyr fall within such guidance. Governance and Internal Control The PCC has considered financial gov8rnanc8 issu6s In the year and has maintained the set of authorisation limits under which the PCC, Executive Committee and staff authorise expenditure. Management accounts are produced on a quarterly basis to enable the PCC to monitor the financial position of the church. Achievements and performance Review of activities The full PCC met seven times during the year, with an averag8 18v81 of attendanc8 Of 860A. The PCC is rasponsible for the finances of the Church, Ihe production and implementation of statutory policies, and the general oversight and management of the Church. Delails of the Church's finances are sel out in the financial review (below), and the Church Accounts {atlached). The PCC delegates the day-to-day running of the Church to the Church staff, allowing th8m to focu5 on vi8ion and oversight. Time has been given to discussing issu8s relating to th8 church's current and future financial situation as plans are made for full building repair and redevelopment. We have also been focussed of reviewing the use of a tertiary piece of land that is owned by the church, with a view to restoring it and increasing its future potential. As at 30 April 2024, the Saint George the Matyr Electoral Roll stood at 42. This repr8s8nts reasonable growth from 2023, but indicat8S W& still have work to do to enable this church to fulfil its potential. Pag8 2 Griffln Stone MoscrDP & Co cHprtrEREoAtt0uMfAAREGbTEDuDJf{S
THE PCC OF ECCLESIASTICAL PARISH OF ST GEORGE THE PJEARTYR, QUEEN SQUARE WITH HOLY TRINITY. HOLBORN AND BARTHOLOMEW TRUSTEES, REPORT {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2024 Financlal revl6w a. Golng concern After making appropriate enquiries, the Truslees have a r8asonable expectalion that the Charity has adequale resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements, b. Flnanclal results Net movement in funds for the year amounted to a surplus of £31,32312023'. 8urplus of £213,958). Restiicted funds carried forward amounted lo £5,104 {2023'. £Nil). Unrestricted funds at the year-8nd amounted to £788,565 (2023.. £762,346). c. Investment Powers, Policy and Perfomiance The church ensures Ihat all funds are available for its ongoing ministry. Interest received from the bank accounts in the year lotall8d £9,081 (2023: £349). Structure, governanco and management a. Constitution Saint George the Martyr is an Anglican Church in the South Camden Deanery, under the Edmonton Ar&a and part of the Diocese of London. The Parochial Church Council is a corporate body 8Stabli8hed by the Church of England. Th8 PCC operates under the Parochi81 Church Council Powers Measure. It has the responsibility of co- operating with the Rector, James Hailh, in promoting in the ecclesiastical parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical. The appointment of PCC members is govemed by and set out in the Church Representation Rules. A Health and Saf6ly Policy (reviewed annually) 15 circulated to and approved by lh8 PCC. Representative5 from those involved in Children's work regularly att8nd child protection training organised by the Diocese and there is a Child ProtectiC¢n Policy in place. b. Risk management Th8 trustees have a duty to identify and review the risks to which the charity is exposed and to ensuré appropriate controls ar8 in place to provide reasonable assurance against fraud and error. Page 3 Grfffln Stone Moscrop & Co CAlDCoLrwts&RE6ffiDALll1OS
THE PCC OF ECCLESIASTICAL PARISH OF ST GEORGE THE MARTYR, QUEEN SQUARE WITH HOLY TRINITY, HOLBORN AND BARTHOLOMEW TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 statement of Trustees, rasponslbllltles The Trustees are responsible for preparing the Trust6&s' report and the financial statements in accordance with applicable law and Unitod Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practice}. The law applicable to charities in England & Wales requires the Trustees lo prepare financial statements for each financial which give a twe and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparino these financial statements, the Trustees are required to.. select suilable accounting policies and Ih8n apply them consistently, observe the m8lhods and principles cfthe Charities SORP (FRS 1021., make judgments and accounting e6timat8S that are reasonable and prudent; stat8 whelher £pplicable UK A¢eounting Standards (FRS 102) hav8 be8n followed, subject to any material departures disclosed and explained in the financial slatemenls., prepare the financial slatements on the going concern basis unl8SS It is inappropriate lo presume Ihal the Charty will continue in business. The Trustees are responsibl8 for keeping adequat8 accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time th8 financial position of the Charity and 6nable them to ensure that the financial statem8nts comply with the Charities Act 2011, the Charty (Accounts and Reports) Regulations 2008 and the provisions of the Charity Commission Scheme. They ar8 also responsibl& for safeguarding the assets of the Charity and hence for taking reasonable 6teps for the prevention and d8tection of fraud and other irregularities. Approved by order of the members of the board of Trust88s on 16 May 2025 and signed on their behalf by., Linda Atexander Trustee Page 4 Griffin Stone Moscrop & Co CHARTEDCOuTAt5RGtsrw.DAUDRs
THE PCC OF ECCLESIASTICAL PARISH OF ST GEORGE THE MARTYR, QUEEN SQUARE WITH HOLY TRINITY, HOLBORN AND BARTHOLOMEW INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Independent examlneffs report to the Trust8es of The PCC of Eccleslastlcal Parish of St George The Martyr, Queen Square with Holy Trinity, HolbDrn and Bartholomew I'the Charity.) I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2024. ResponsibilÉtios and basls of report As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act,). I report in respect of my examinalion of th8 Charit8 accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have follow8d the applicable Directions given by the Charity Commission undgr section 145(51{b) of the 2011 Act. Independgnt 8xaminer's statement Since the Charity's gross income 8xc88d8d £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 because l am a member of ICAEW, which is one of the listed bodies. Your att8ntion is drawn lo th8 fscl that the Charity has prepared the accounts in accordanGe with Accounting and Reporting by Charities., Statement of Remmended Practice applicable to charities preparing Ih8ir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 in preferenc8 to the Accounting and R8porting by Charities.. Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations bLrt has been withdrawn. l understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practi effective for reporting periods beginning on or afier 1 January 2015. I have compl8t8d my examination. I confirm that no matters have come to my attention in connection wlch th8 examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the Charity as required by section 130 cf the 2011 Act., or the accounts do not accord with those records., or the accounts do not comply with the applicable requirements conceming the form and content of accounts set out in the Charities (Accounts and Reports) RulationS 2008 other than any requirement that the 8ccounts give a 'true and fair, view which is not a matt8r considered 8s part of an independent examination. I have no concerns 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 accounts to be reached. Page 5 Griffin Stone Moscrop & Co CHARTUEDACCCnTrlT&NtS&PE.GISIEDED4Lixr
THE PCC OF ECCLESIASTICAL PARISH OF ST GEORGE THE MARTYR, QUEEN SQUARE WITH HOLY TRINITY, HOLBORN AND BARTHOLOMEW INDEPENDENT EXAMINER'S REPORT {CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2024 This report 13 made solely lo the Charivs Trustee$, as a body, In accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters l am required to state to them in an indépendent examiner's reporl and for no other purpose. Tc the fullest extent permitted by law, I do not accept or assume responsibility to anyone otherthan the Charity and the Charity's Trustees as a body, for my work or for this report. Signed., Robert Smith Dated.. 19 May 2025 FCA Griffin Ston8 Moscrop & Co Chartered Accountants 21-27 Lamb'8 Conduit str88t London WC1N 3GS Page 6 Gtlffln Stone Moscrop & Co CH1LATEREDlaumTAN®TEDAuDP5
THE PCC OF ECCLESIASTICAL PARISH OF ST GEORGE THE MARTYR, QUEEN SQUARE WITH HOLY TRINITY, HOLBORN AND BARTHOLOMEW STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 Restricted Unrestrict8d funds funds 2024 2024 Total funds 2024 Total fvnds 2023 Note Income from: Donations and lega¢ies other trading activities Inv8Stments 5,104 258,586 75,396 18,414 261,690 75,396 18,414 444, 859 29,510 25,240 Total income 5,104 350,396 355,500 499, 700 Expendlture on: Raising funds Charitable activities 2,142 322,035 2,142 322,035 2,603 283, 139 Total expendlture 324,177 324,177 285, 742 Net mov8m8nt in funds 5,104 26.219 31,323 213,958 Reconciliation of funds. Total funds brought forward Net movement in funds 762,346 26,219 762,346 31,323 548,388 215,958 5,104 Total funds Garrled forward 5.104 788,585 793,669 762,346 The Statement of financial activities includes all gains and losses rewgnised in the year. The notes on pages 9 to 23 form part of these financial statements. Page 7 Griffin Stone Moscrop & Co CHARTERE00oUNTl5sREuSTEREDluDroS
THE PCC OF ECCLESIASTICAL PARISH OF ST GEORGE THE MARTYK QUEEN SQUARE WITH HOLY TRINITY, HOLBORN AND BARTHOLOMEW BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Not8 Fixed assets Tangible asséts 11 16,498 25.094 16,498 25,094 Current assets Debtors Cash at bank and in hand 12 56,789 743,660 93,235 670,313 800,449 763,548 Creditors: amounts falling due within one year 13 {23,2781 (26,296) Net current assets 777,171 737, 252 Total assets less current liabilities 793,669 762,346 Total net as88ts 793,669 762,346 Charlty funds Restricted funds Unrestricted funds 15 15 5,104 788,565 762,346 Total funds 793,669 762, 346 The financial statements were approved and authorised for issue by the Trustees on 16 May 2025 and sign8d on their behalf by., Linda Alexandar Trustee The notes on pagas 9 to 23 form part ofthese financial ststements. Page 8 Grlffin Stone Moscrop & Co Q"LbRTEK.DACC¢XmT#NtS&PEG15TEREDurra
THE PCC OF ECCLESIASTICAL PARISH OF ST GEORGE THE MARTYR, QUEEN SQUARE WITH HOLY TRINITY, HOLBORN AND BARTHOLOMEW NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Gen8ral informatlon The PCC of Ecclesiastical Parish of St George The Martyr is a registered Charity with the Charity Commission in England & Wales (charity number.. 1134394). The règistered offic8 address is 44 Queen Square, London, WC1N 3AH. Accounllng pollcles 2.1 Basls of preparation of financlal statements The financial statements have been prepared in accordance with the Charities SORP {FRS 102) Accounting and Reporting by Charities.. Statement of R8commended Practice applicable to charities preparing thelr accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ir61and {FRS 102) (effective 1 January 201S), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1 D2) and the Charities Act 2011. The financial stat8menls have be@n prepared to give a 'lrue and fail view and have departed from th8 Charities (Accounts and Reports) Regulations 2008 only to the extent requir8d to provide a 'true and fair, view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities., Statement of Recommended practi effective from l April 2005 which has since been withdrawn. The PCC of Ecclesiastical Parish of St George The Martyr, Queen Square with Holy Trinity, Holborn and Bartholomew meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise 3tated in the relevanl accounting policy. 2.2 Income All income is recognis8d once the Charity has entitlement to the income, it is probable Ihat Ihe income will be received and the amount of income receivable can be measured reliably. The recognition of income from legaciss is dependent on estsblishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivab18. Evidence of entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left to them (through knowledge of the existenc8 of a valid will and the death of th& benefactor) and the 8xecutor is satisfied that the property in question will not b@ required to satisfy claim5 in the estate. Receipt of a legacy must be recognised when il is probable that it will be received and the fair value of thé amount receivable, which will generally be Ihe expected cash amount to be distributed to th8 Charity, can be reliably measured. Grants are included in the stalement of financial activities on a reIv8b1e basis. The balancè of income received for specific purposes but not expended during the period is shown in the r818vant funds on the balance sheet. Where income is received in advance of entillement of receipt, its recognition is deferred and includ6d in credilors as d8ferred income. Where entitlement occurs before income is recetV8d, the income is accrued. Income tax recoverable in relation to invastmant income is recognised at the time the investment income 18 rec8ivable. Page 9 Griffin Stone Moscrop & Co CWTEREDfvIOlNfMI1R£tsTEw..DAuT[s
THE PCC OF ECCLESIASTICAL PARISH OF ST GEORGE THE MARTYR, QUEEN SQUARE WITH HOLY TRINITY, HOLBORN AND BARTHOLOMEW NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng pollcles {continue¢l) 2.3 Exp8nditur8 Expenditure is recognised oncg thgre is a legal or constructive obligation to transfer economic benefit to a third party, it is probabl8 thal a transfer of economic benefits will be requirecl in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. Th8 Costs of each activity are made up of th8 total of direct costs and shared costs, including support costs involved in und8rtaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute lo more Ihan one activty and support costs which ar@ not attributable to a single aclivily are apportioned betwe8n those activities on a bssis consistent with th8 use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use, Expenditur8 on charitabl@ activities is incurred on directly undertaking the activities which further the Charitys objectives, as well as any associated support Costs. Grants payab18 ar8 charged in the year wh8n th8 offer 18 made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the y8ar end ara noted as a commitment, but not accruad as expenditure. All expenditure is inclusive of irrecoverable VAT. 2.4 Intorest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity- this is normally upon notification of Ihe interest paid or payable by the institution wtth whom the funds are deposited, 2.5 Tanglble fixed ass8ls and depreciation Tangible fixed assets costing £NIL or more are capitalised and recognised when future economic b6nefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are initially recognised at ccst. After recognition, under Ihe cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumul£ted impaiment Ioss8s. All costs incurred to bring a tangible fixed asset inlo its intended working condition should be included in the measurement of cost. Depreciation is charg8d so as to allocate the cost of langib1e fed assets less their residual value over their estimated useful lives, D8prÉciation is provided on the following bases.. Plant and machinery Office equipment Computer equipm8nt 25 /0 on cosl 250/0 on cosl 25 % on cost 2.6 Debtors Trad8 and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade disGounts due. Page 10 Griffln Stone Moscrop & Co CWATEREDiQmuhrrA&P>EDUDoR5
THE PCC OF ECCLESIASTICAL PARISH OF ST GEORGE THE MARTYR, QUEEN SQUARE WITH HOLY . TRINITY, HOLBORN AND BARTHOLOMEW NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng pollcies (continued) 2.7 Cash at bank and In hand Cash at bank and in hand includes cash and short-terrn highly liquid investments with a short maturity of three months or less from th8 date of acquisition or opening of the deposit cr similar account. 2.8 Liabilities and provlslons Liabilitias are recognised wh8n th8re is an obligation at the balance sheet date as a result of a past 8v8nl, il is probable that 8 transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities ar8 recognised at the amount that the Charity 8ntlClP8tes it will pay to settle th8 debt or the amcunl it has received as advanced payments for the goods or services it must provide. Provisions 8r8 m6asured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on th6 present value of those amounts, discounted at the pre-tax discount rata that reflects the risks specific to the liabilty. The unwinding of th8 discount is recognised in the statement of financial activities as a finance cost. 2.9 Flnancial Instruments The Charity only has financial assets and financial liabillcies of a kind Ihat qualify as basic financial instruments. Basic financial instrum8nts are initially recognis8d at transaction value and subsequently measured at their 8etllem8nt value wilh the exception of bank loans which arg subsequentty m8asured at amortised cost using the effective interest method. 2.10 Fund accounting General funds are unrestricted funds which are availabl8 for use at the discretion of the Trustees in furtherance of the gen8ral objective8 of the Charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees ft>r particular purpos8s. The aim and use of each designated fund is set out in the notes to th8 financial statements. Restricted funds ar8 funds which are to be used in accordance wrf(h specific restrictions imposed by donors or which have been raised by the Charity for partiGular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is sgt out in the not8S to th8 financial stalements. Investment income, gains and losses are allocaled to the appropriate fund. Page11 Grlffln Stone Moscrop & Co o4ARTERED*LLDUNTAN&REQSTEREDAUp[()R5
THE PCC OF ECCLESIASTICAL PARISH OF ST GEORGE THE MARTYII QUEEN SQUARE WITH HOLY TRINITY, HOLBORN AND BARTHOLOMEW NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Income from donatlons and legaci8S Restricted Unrestrlcted funds funds 2024 2024 Total funds 2024 Donations Legacies Grants Gift Aid r8¢laim8d 5,104 159,735 38,674 35,316 22,861 164,839 38,674 35.316 22,861 Total 2024 5,104 256,586 261,690 Unrpstricted funds 2023 Total funds 2023 Donations Grants Gift Aid r&claimed 366, 224 (10, 206) 88,832 366,224 (10.206) 88, 832 Total 2023 444,81 444, 850 Income from other tradlng activltles Incom8 from fundraising events Unrestrlcted funds 2024 Total funds 2024 Venue hire Events oth8r income 38,006 1,g43 37,447 36.006 1,943 37,447 Total 2024 75,398 75,396 Pag812 Griffin Stone Moscrop & Co cHATEDCoUbffAREsTFEDNDRS
THE PCC OF ECCLESIASTICAL PARISH OF ST GEORGE THE MARTYR, QUEEN SQUARE WITH HOLY TRINITY, HOLBORN AND BARTHOLOMEW NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Incom8 from other trading actlvltles Icontlnuedl Income from fundralslng events (continued) UnrestriGled funds 2023 Total funds 2923 Venue hire Events Other income 23,274 217 6,119 23.274 217 6,119 Total 2023 29,610 29,610 Investment Income Unrestrlcted funds 2024 Total funds 2024 Rents receivable Bank interest 9,333 9,081 9.333 9,081 Total 2024 18,414 18,414 Unrestn'cted funds 2023 Total funds 2023 Rents receivable Bank interest 24,891 349 24,891 349 Total 2023 25,240 25,240 Page 13 Griffln Stone Moscrop & Co CHIR1E£CNVl4ls®RE0AL
THE PCC OF ECCLESIASTICAL PARISH OF ST GEORGE THE MARTYR, QUEEN SQUARE WITH HOLY TRINITY, HOLBORN AND BARTHOLOMEW NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Analysls of grants Grants to Institutlons 2024 Tolal funds 2024 Grants 555 555 Total 2024 555 565 Gr8nls lo Inslitutions 2023 Total funds 2023 Grants 619 619 Total 2023 619 619 Analysls of expendlture on charitable activiti88 Summary by fund type Unrestricted funds 2024 Total 2024 Church running costs Dioc8san Parish share Ministry costs 291,783 25,QOD 5,252 291,783 25.000 5,252 Total 2024 322,035 322,035 Page 14 Griffln Stone MoscrDP & Co CFilKTL.C(CuNTNTS*REGl5fEDAUDtFoPS
THE PCC OF ECCLESIASTICAL PARISH OF ST GEORGE THE MARTYR, QUEEN SQUARE WITH HOLY TRINITY, HOLBORN AND BARTHOLOMEW NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Analysls of expendlture on charitablo actlvltles (contlnued} Summary by fund type Icontlnued) unstrICted funds 2023 Total 2023 Church running costs Diocesan Parish share Ministry costs 243, 693 35, 000 4,446 243,693 35,000 4,446 Total 2023 283, 139 283, 139 Analysis of expenditure by actlvltles Actfvitles undertaken directly 2024 Grant funding of activities 2024 Support costs 2024 Total funds 2024 Church running costs Diocesan Parish share Ministry ccsts 271,797 25,000 5,252 555 19,431 291,783 25,000 5.252 Total 2024 302,049 555 19,431 322,035 Acttvities undertakgn d1CtlY 2023 Grant funding ol activities 2023 Support costs 2023 Total fvnds 2023 Church running cost8 Diocesan Parish share Ministry costs 223,218 35,000 4,446 619 19,858 243, 693 35,000 4,446 Total 2023 282, 664 619 19,856 283, t39 Page 15 Grlffln Stone Moscrop & Co (X4RTEREDlCCNTN&pEQ5TERto1WTs
THE PCC OF ECCLESIASTICAL PARISH OF ST GEORGE THE MARTYII QUEEN SQUARE WITH HOLY TRINITY, HOLBORN AND BARTHOLOMEW NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Analysis of oxpendlture by activities {continued) Analys18 of dlrect costs Church running costs 2024 Diocesan Parish share 2024 Ministry costs 2024 Total funds 2024 Tolal fund8 2Q23 Staff costs Depreciation Office costs staff consultancy costs Property insurance Diocesan Psrish share Rectory costs Ministries intemal Ministries exlernal other church r818ted costs SeNic8s and worship Cleaning utilities Training costs Premises repair and renewals 13,387 10,341 2,902 77,934 8,111 35, OOQ 6,057 703 2, 880 53, 852 26, 937 2,200 11,867 474 10,079 9.941 2,446 105,563 8,533 9,941 2,446 105,663 8,533 25,000 6,170 1,727 2,640 91,989 26,513 2,461 10,484 952 7,630 25,000 6,170 1,727 2,840 91,989 25,628 2,461 10,484 952 7,630 885 Total 2024 271,797 25,000 5,252 302,049 262,664 Page16 Griffin Stone Moscrop &Co C14ARITrFD*EcOurThrsipEo15TEREDJDIToRS
THE PCC OF ECCLESIASTICAL PARISH OF ST GEORGE THE MARTYFL QUEEN SQUARE WITH HOLY TRINITY, HOLBORN AND BARTHOLOMEW NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Analysis of expendlture by actlvities (continued) Analysis of support costs Church runnlng costs 2024 Total funds 2024 Total funds 2023 Travel and subsistence Sundries Telephone and int@met Advertising and marketing Printing, postage and photocopier Recruitrnent fees Subscriptions Governan costs 98 61 1,426 12,130 482 87 508 61 1,426 12,130 1,473 11,933 209 484 1,229 3,933 1,311 3,923 1,311 3,923 Total 2024 19,431 19,431 19,856 Independent examiner's remuneratlon 2024 2023 Fees payab18 to the Charity's independent 8xaminer for the independent examination of the Charity's annual accounts 2,880 2,880 10. Trustees. remuneratlon and exp8ns88 During the year, no Trustee5 received any rernun8ration or olher b8nefils (2023 - £NIL). During the year 8nded 31 December 2024, no Trustee expenses have been incurréd (2023- £NIL). Page 17 Grlffln Stone Moscrop & Co (WRTEPEDKCWJTINTS®lStWALOITC
THE PCC OF ECCLESIASTICAL PARISH OF ST GEORGE THE MARTYR, QUEEN SQUARE WITH HOLY TRINITY, HOLBORN AND BARTHOLOMEW NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 11. Tanglble fixed assets Plant and machlnery Office equipment Computer equlpmont Total Cost or valuatlon At 1 January 2024 Additions 246,714 699 3,395 179 4,829 467 254,938 1,345 At 31 December 2024 247,413 3,574 5,296 266.283 D8preciation At 1 January 2024 Charge for the year 222,433 9,299 3,395 4,016 597 229,844 9,941 At 31 December 2024 231,732 3,440 4,613 239,785 Net book value At 31 December 2024 15,681 134 683 16,498 At 31 December 2023 24,281 813 25, 094 Debtors 2024 2023 Due vrfithin one year Other debtor8 Prepaymenls and accrued income 370 56,419 370 92,8S5 56,789 93,235 13. Creditors: Amounts falling dua wlthln one year 2024 2023 Accruals and deferred income 23,278 26,296 Page 18 Grlffin Stone Moscro &Co cHATEDcOuw1®7ERÉDAUTh'rOR5
THE PCC OF ECCLESIASTICAL PARISH OF ST GEORGE THE MARTYR, QUEEN SQUARE WITH HOLY TRINITY, HOLBORN AND BARTHOLOMEW NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 14. Financial Instrument8 2024 2023 Flnanclal assets Financial assets m8asured at fair value through incom8 and expenditure 743,660 670,313 Financial assets measured at fair value through income and 8xpenditure comprlse cash at bank. Pag8 19 Grtffln Stone Moscrop & Co CHAATfflEDpOlmTNREGDAUplToR5
THE PCC OF ECCLESIASTICAL PARISH OF ST GEORGE THE MARTYR, QUEEN SQUARE WITH HOLY TRINITY, HOLBORN AND BARTHOLOMEW NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 15. Statement of funds Statement of funds - current year Balanc6 at 31 December 2024 Balance at I January 2024 Income Expendlture Unrestrlcted fund5 Designat8d funds Working capital fund (lottery church works) Legal designation Collingham Gardens renewal fund Development phase contribution match funding 300,000 100,000 10Q,000 300.000 100,000 100,000 50,000 60,000 550,000 550,000 General funds General Fund 212,346 350,396 1324,177) 238,565 Total Unrestricted funds 762.346 350,396 {324,177) 788,565 Re3trict8d funds Building renewal proj8Ct 5,104 6.104 Total of funds 762,346 355,500 (324,177 793,669 Page 20 Grlffin Stone MOscP & Co 044MT:ktDP£C(lJNt4N15®BTBEDALIJT
THE PCC OF ECCLESIASTICAL PARISH OF ST GEORGE THE MARTYR, QUEEN SQUARE WITH HOLY TRINITY, HOLBORN AND BARTHOLOMEW NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 15. Statement of funds {contlnu8d) statement of funds - prior year Salance at 31 Deoember 2023 Balance af 7 J8nu8ry 2023 Transfers in/out Income Expenditu Unreslrlcted funds Designated funds Working capital fund (lottery church Works) Legal d8signation Collingham Gard8ns renewal fund Development phase contribution match funding 300,090 100,OC 300.000 100,000 109,000 100,000 50,000 50, QOQ 550,009 550, 000 G8n8ral funds General Fund 548,388 499, 700 (285, 742) (550,000) 212,346 Total Unrestrlcted funds 548, 388 499, 700 (285, 742) 762,346 Page 21 Griffln Stone Hoscrop & Co LE.£CNfR[.GIsEREQUDrQPs
THE PCC OF ECCLESIASTICAL PARISH OF ST GEORGE THE MARTYR, QUEEN SQUARE WITH HOLY TRINITY, HOLBORN AND BARTHOLOMEW NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 15. Statement of funds Icontlnued) The restricted fund represents fundraising income for Matched funding for the HLF grant. These funds have not been sp6nt and will ultimately be spent on the building renewal project beginning later in 2025. General funds tolalling £550,000 were designated in the prior year {20231 for various reasons.. Working capltal fund (lottery church works) Though we are applying for grants and doing fundraising, Ihere is a lag betwe&n outlay and reimbursement by the grant awarding body. So we need to have th8 finance on hand to make those large building payments until the reimburs8m8nt comes through. Legal designatlon This is to ensur8 wa can manage potential legal dispules in relation lo land we own and other parties, interesls in thos8 lands. Colllngham Gardens r8n8wal fund We have a historic wall on Collingham Gardens within St George's Gardens. This needs to be repaired and though there will be other parties contribuling, we ne8d to ensure we can comple18 the works once started in the event that thos6 other parties do not pay immediately. D8velopment phase contrlbution match fundlng Heritage Lottery Fund development phas8. They require us to put up some money for the developmenl alongside their grant portion. None of these monies were utilised in 2024. 16. Analysls of net assets between funds Analysis of n8t as88ts between funds - current perlod Restricted Unrestrlcted funds funds 2024 2024 Total funds 2024 Tangible fixed assets Current assets Creditors due within one year 16,498 795,345 (23,2781 16,498 800,449 123,278) 5,104 Total 5,104 788,565 793,669 Page 22 Grlffln Stone Moscrop & Co RrERED@CCQuNTIQ4®IsTEAURS
THE PCC OF ECCLESIASTICAL PARISH OF ST GEORGE THE MARTYR, QUEEN SQUARE WITH HOLY TRINITY, HOLBORN AND BARTHOLOMEW NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 16. Analysis of net assets between funds (contlnu&d) Analysis of net assets between funds - prior period nSti1cted funds 2023 To(al funds 2023 Tangible fixed 8sset8 Current assets Creditors due within one year 25,094 763,548 (26,296) 25,094 763,548 (26,296) Total T62,348 762,346 17. Related party transactions During the year, total donations made to the church from members of th8 PCC totalled £82,82912023 - £340,890). Pag8 23 Griffin Stone Moscrop & Co £HARTEPFDfv£CtUpitTSIkQ.GsTEwAl1IlOI1s