Registered Charity Number 1134650
The Parochial Church Council of the Ecclesiastical
Parish of Holy Trinity and St Saviour, Upper Chelsea
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

The PCC of Holy Trinity and St Saviour, Upper Chelsea
Index to the Report and Financial Statements
Page
Charity's Information
Trustees, Annual Report
Independent Examiner's Report
Statement of Financial Activities
10
Balance Sheet
Cash Flow Statement
12
Notes to the Financial Statements
13

The PCC of Holy Trinity and St Saviour, Upper Chelsea
CHARITY'S INFORMATION
Charit
name
The Parochial Church Council of the Ecclesiastical Parish of Holy Trinity and
St Saviour Upper Chelsea
Charit
workin
name Holy Trinity Sloane Square (Holy Trinity)
Trustees
Rector:
The Revd Canon Nicholas Wheeler
Assistant Priest:
Fr Fergus Butler-Gallie - from Nov 2020
Carolyn Hallett - appointed 23 May 2021
Jeffrey Kabel
Gill Dunley (ex Officio)
John Renz (ex Officio)
All appointed 23 May 2021
Until 2024:
Michael Ashcroft
Churchwardens:
Assistant Churchwardens:
Elected Members:
Sameer Baajun
Gerard Brown
Helen Rice
Until 2023:
Vis. MayLin de Chezelles
Robin Hellier
Peter Macklin
Kevin Muncey
Jayne Chng
Gogo-Rose Ilo
Marianne Paltzer-studer
Until 2022:
Wendy Workman
David Fairlamb
Hon. Treasurer:
Hon Secretary of the PCC:
Sir Martin Bonham
Inde
endent Examiner
John Millidge ACA
Simpson Wreford & Partners
Suffolk House, George Street
Croydon CRO OYN
Bankers
National Westminster Bank Ltd
Re
istered charit
number 1134650
Re
istered office
146 Sloane Street, London SW1X 9BZ

The PCC of Holy Trinity and St Saviour, Upper Chelsea
TRUSTEES, ANNUAL REPORT
Despite hopes that the Covid-19 pandemic could be left behind in 2020, the arrival of 2021 brought
another 'lockdown' and consequent impacts on the life of Holy Trinity Church. However, places of
worship were not required to close on this occasion and Holy Trinity remained open for four hours a
day during the week for silent prayer whilst the Sung Eucharist continued on Sundays and a
livestream of the service allowing those who didn't wish to attend in person to participate.
Holy Trinity Church of England Primary School was closed except for the children of key workers
and home learning for the majority of pupils was put in place until March. The clergy undertook
'virtual pre-recorded, assemblies which were sent out to the children.
A monthly collection of food and household basics for the Kensington and Chelsea Foodbank
continued as did the 'Taking Care, programme providing pastoral care by telephone by volunteers
from the congregation to church members.
In January, the Parochial Church Council applied for funding to the Culture Recovery Fund and in
April received £92,000 which enabled Holy Trinity to create a reserve, pay the parish staff and invest
in the Arts and Crafts Festival as a 'reopening' event.
In March, as the parish sought to recover from the pandemic, the Rector outlined a set of principles
and priorities for the mission and ministry of the church going forward which included robust control
of costs, the appointment of a full-time Assistant Priest, the creation of an unrestricted reserve, the
rebuilding of the church's music department and the return to a generous Common Fund
contribution.
The Lent programme offered a number of activities via Zoom and we joined forces with St Mary's
Bourne Street for pre-recorded Lent reflections on the life of the Blessed Virgin Mary each week.
Holy Week and Easter services resumed their usual pattern. The church was beautifully decorated
with flowers by the Flower Guild.
The death of the Duke of Edinburgh in April was observed with a focal point for prayer at the entrance
to church. Books of Condolence could not be used owing to the pandemic restrictions.
May saw the launch of a new website www.sloanechurch.or
and a return to the Parish Office for
the clergy and staff as the restrictions eased.
Following the financial challenges that led to the pairing down of the music department in 2020, an
improving situation thanks to the generosity of music sponsors amongst the congregation saw the
creation of a Music Review Group chaired by the Rector to chart the way ahead and work towards
the appointment of a new Director of Music.
Holy Trinity's Feast of Title was kept on Trinity Sunday with a Festival Eucharist at which the
celebrant and preacher was The Bishop of Fulham.
As the UK began to open up more, and restrictions were lifted by the Government, the decision was
taken to end livestreaming of the Sunday service in June.
An Assistant Priest appeal was launched to raise the money to appoint a new Assistant Priest in
2022 and received a very generous response.
We said a farewell to Oliver Lallemant, Director of Music since 2015, on his appointment as Director
of Music at St Stephens, Dulwich.
In July, Sophie Wilson who had led Junior Church in-person and online since 2015 stood down.
Jayne Zecha, a Junior Church parent and member of the PCC, kindly offered to lead Junior Church
from September until a Junior Church co-ordinator could be appointed.
Bishop Graeme Knowles came in July to baptise and confirm eight candidates who had been
prepared online by our part-time Assistant Priest, Fr. Fergus Butler-Gallie.
Two members of the Flower Guild held presentations in the Parish Room during July to raise funds
for flowers.

The PCC of Holy Trinity and St Saviour, Upper Chelsea
During the second half of 2021 we witnessed a flurry of occasional offices with weddings, wedding
blessings and baptisms making their return to church life.
August concluded with the annual Pilgrimage to the Shrine of Our Lady of Walsingham, this time in
collaboration with All Saints, New Cross where our former Assistant Priest, Fr Grant Bolton-Debbage,
is now Vicar.
A month-long Arts and Crafts Festival, in conjunction with Open House London, took place in
September with an array of events exploring the environment, including a performance of 'Pictures
of Life, which brought together four of the five schools in the parish.
Chelsea Flower Show unusually took place during September owing to the pandemic and the Flower
Guild ran a 'Garden Café, during that week in the Patio Garden.
Bishop Michael Marshall launched his biography of Bishop Edward King at Holy Trinity during
September and celebrated the Diamond Anniversary of his ordination as a priest.
Harvest Festival at the end of September saw many goods collected for the Kings Road Community
drop-in centre given by the congregation of Holy Trinity and the families of Holy Trinity and Garden
House Schools.
Thanks to the efforts of the Facilities and Events Manager Clinton Mcmaster, a tentative
recommencement of concerts and events began in the autumn but with arrival of the Omicron variant
a number were eventually cancelled.
During November, the Bishop of London came to visit Holy Trinity and Christ Church Schools,
Federation and a tea was arranged by the Rector for the Bishops of London and Kensington to meet
our Patrons, the Cadogan family.
reception to thank music sponsors took place in November at which Holy Trinity musicians
performed pro bono.
In late November, the Archdeacon of Middlesex, The Venerable Richard Frank, visited the parish for
the first time in his role and attended a meeting of the PCC.
Advent began with a Quiet Day for which we joined the congregation at All Saints Margaret Street.
During 2021, the funerals of two much-loved members of the congregation, Joan Rawle and Anthony
Dawes, were held at Holy Trinity. There was a Memorial Service for The Revd. Douglas Bean,
sometime Hon. Assistant at Holy Trinity, and the annual Sung Requiem returned on All Souls, Day.
A funeral pall was given to Holy Trinity in memory of Reginald Hall.
th
This was to be the year in which Sloane Square Choral Society celebrated its 10 anniversary but
the pandemic required the anniversary to be kept in a rather more muted form. Nevertheless,
rehearsals resumed in church and online as soon as the lifting of restrictions allowed and concerts
went ahead in July and December.
During the year the Parochial Church Council returned to in-person meetings following the online
meetings necessitated by the pandemic. Amongst its business was the renewal of Licences to
occupy space at Holy Trinity Church by Garden House School and at St. Saviour's Church by
Knightsbridge School. The Independent Examiner, David Powell, who had examined Holy Trinity's
accounts for 25 years stood down and a new examiner, Simpson Wreford and Partners, was
appointed.
Cards for Good Causes returned to sell charity Christmas cards and did their best given the Covid-
19 restrictions that began to make a return as Christmas approached.
The Christmas Fair was held in conjunction with Holy Trinity School and raised £3,600 which was
divided equally between church and school. Christmas services went ahead as planned.
It is largely due to the commitment and talents of volunteers that our church's life thrives and we
thank them for their dedication.

The PCC of Holy Trinity and St Saviour, Upper Chelsea
Structure, governance and management
The Parish of Holy Trinity and St Saviour, Upper Chelsea is part of the Diocese of London within the
Church of England and was registered as a charity with the Charity Commission on 11 September
2012. It was formed when The Parochial Church Council of The Ecclesiastical of Holy Trinity with St
Jude was joined by The Parochial Church Council of The Ecclesiastical Parish of St Saviour's Upper
Chelsea (charity 1131700), with funds received from the latter.
The Parochial Church Council (PCC) is governed by two pieces of Church of England legislation,
being the Parochial Church Councils (Powers) Measure 1956 as amended and the Church
Representation Rules (contained in Schedule 3 to the Synodical Government Measure 1969 as
amended 1 November 2011).
The PCC is a body corporate with perpetual succession. The PCC meets approximately five times
per annum to discuss a full range of matters of general concern and importance to the parish
including deciding on how the funds of the PCC are to be spent.
The membership of the PCC consists of the Incumbent, Churchwardens, the Assistant Priest and
members elected by those members of the congregation who are on the Electoral Roll of the church.
Elected members are appointed for a period of 1, 2 or 3 years, after which they must stand election
again.
The PCC operates through a number of committees and working groups which meet between
meetings of the PCC, and report back to the PCC.
Objectives and activities for the public benefit
The Parochial Church Council (PCC) of the Parish of Holy Trinity and St. Saviour, Upper Chelsea
has the responsibility of cooperating with the Incumbent, the Reverend Canon Nicholas Wheeler, in
promoting in the ecclesiastical parish, the whole mission of the Church, pastoral, evangelistic, social
and ecumenical.
For over 130 years Holy Trinity Church has opened its doors each day for the praise of God and the
service of neighbour. We are a diverse community formed in the Catholic tradition of the Church of
England who believe that 'The world will be saved by beauty, (The Fool, Fyodor Dostoevsky). We
see this beauty in the face of Jesus Christ calling us to:
The Beauty of Holiness
As The Parish Church of Upper Chelsea we seek to feed and form people of all ages to be confident
disciples of Jesus Christ and equip them for the challenges of living the Gospel in the 21 st century.
The Beauty of Creativity
As 'The Cathedral of the Arts and Crafts, we seek to conserve and embellish the built heritage of
Holy Trinity and to champion an ethical vision for education, healthcare, work, economics, the arts
and the care of the environment.
The Beauty of Worship
As a Shrine and Sanctuary for Sloane Square we seek to provide a sacred space open every day of
the week for those who live here, work nearby or visit to stop, think, reflect or pray in the midst of a
turbulent and clamorous world.
As the Body of Christ we endeavour to live His life and imitate His unconditional love for the world.
By embracing the call to the beauty of holiness, creativity and worship we seek to be something
beautiful for God.

The PCC of Holy Trinity and St Saviour, Upper Chelsea
Financial results
The financial results of Holy Trinity for 2021 reflect the recovering from the pandemic, especially
thanks to the £91,891 Government's grant.
The following is a summary of the formal accounts, which must comply with both the requirements
of Church regulations and Charity Commission.
This summary records the transactions of the on-going functions of Holy Trinity.
Income & Ex
enditure
A summary of overall I&E is shown in the table below
Accounts Summary
2021
Holy Trinity St Saviour Total HTISS
2020
Total
sscs
Total
Income
Less
Expenditure
449,085 .
100,475
549,560
25,340
574,901
344,204
308,485
21,428
329,913
27,985
357,899
330,386
Surplusl(Deficit)
140,600
79,047
(") including a £597 extraordinary loss in income
219,647
(2,645)
217,002
13,818
Holy Trinity (HT)
HT'S income was £449,085 (2020." £238,302). The increase of £210,783 was mainly due to the
receipt of grants, for Heritage recovery (£91,891) and music (£20,000), and fundraising for an
Assistant Priest (£46,925).
Additionally church activity improved with the easing of COVID restrictions. Concert income
increased by £17,991 compared to 2020 (although it was still a third lower than pre-pandemic levels).
The remaining increase of £34,051 was a result of church activity increasing, with attendances
improving and visitor numbers also rising and, significantly, the Arts & Crafts Festival that ran for
three weeks in September.
A significant element of 2021 income was to support church activities in the future, Designated Fund
balances increasing by £94,243.
Expenditure was £308,405 (2020." £273,047) an increase of £35,358. The increase mainly related to
the costs of the Arts & Crafts Festival and the cost of Web Site development.
The resultant Surplus in 2021 was £140,600 (2020: (£34, 745) Deficit).
St Saviour (SS)
School License fee income was £100,475 (2020.. £70,260) as revised rental terms were negotiated.
Expenditure was £21,428 (2020." £27,494), a reduction of £6,066 due to lower maintenance costs as
some work has been rescheduled to 2022.
The resultant Surplus in 2021 was £79,047 (2020.. £42, 766).
Sloane Square Choral Society (SSCS)
2021 income was £25,340 (2020." £35,642), a reduction of £10,302 due to a reduction in
membership, while the expenditure at £27,985 (2020." £29,845) only reduced by £1,860, mainly due

The PCC of Holy Trinity and St Saviour, Upper Chelsea
to savings with concerts, costs. The resultant net position in 2021 was (£2,645) deficit, (2020: £5,797
surplus).
Consolidated
Overall, the surplus of £13,818 in 2020 improved to a surplus of £217,002 in 2021, as result of the
effects described above.
Reserves
A summary of year-end reserves is shown in the following table.
2021
General &
Designated
2020
General &
Designated
Restricted
Restricted
General Funds
Holy Trinity & St Saviour
Desi
nated Funds
Assistant Priest
Denyse de Mauny
Emergency Reserve
Music
Other designated
Restricted
The Kathleen Hannay grant
Vicarage
sscs
Total
Per accounts
108,459
3,054
46,850
100,033
43,270
6,235
9,853
100,000
9,204
2,795
20,000
225,328
23,164
268,492
225,328
25,809
251,137
314,700
583, 192
115,053
366, 190
Overall reserves increased by £217,002, with a £105,435 increase in general reserves (to £108,459)
thanks mainly to the surplus generated by St Saviour's and to part of the Government's grant.
Designated reserves increased by £94,243 (to £206,241) due mainly to the Assistant Priest appeal,
launched in the summer of 2021 and the funding of an Emergency Reserve by a Government's
grant.
The PCC aims to maintain a General Reserves surplus to cover four months of annual running costs
(amounted to £286,683 in 2021, but forecasted to £314,780 in 2022).
At 31 December 2021 these reserves covered costs for circa 4.5 months.
Additionally, the Government Grant received included £43,241 to build reserves and this is recorded
as a Designated Reserve in the table.
Therefore, the PCC believes that the level of reserves held are sufficient and reasonable to maintain
the mission and safeguard the fabric of the church in 2022.
Concerns
The PCC is confident that with the pandemic behind us, 2022 will be a better year for the charity, but
as happens with all businesses and charities, the future still presents some uncertainties. Those
worth mentioning include the loss of St Saviour's income from the end of August 2022, the possible
loss of rental income from Cards for Good Causes, as well as the UK'S energy crisis that will impact
the charity from December 2022, when the charity will no longer have a fixed contract for the supply
of gas.

The PCC of Holy Trinity and St Saviour, Upper Chelsea
Two of the designated funds were funded in 2021 by donations from the congregation and a
foundation. The Assistant Priest Fund, although doing well, still has pledged donations short of the
£135,000 target and there is particular dependence on one donor. Additionally, in the new year the
Music programme will be expanding, with the appointment of Music Director scheduled for the first
quarter of 2022. The development of this programme relies deeply on another £20,000 grant being
secured, as the donations from the congregation in 2021 were less than 50 % of those received in
the previous year.
Responsibilities of the Trustees and the PCC
The charity trustees are responsible for preparing a trustees, annual report and financial statements
in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom
Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the charity trustees to prepare financial
statements for each year which give a true and fair view of the state of affairs of the charity and of
the incoming resources and application of resources of the charity for that period. In preparing the
financial statements, the trustees are required to:
select suitable accounting policies and then apply them consistently;
observe the methods and principles in the applicable Charities SORP;
make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards have been followed, subject to any material
departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to
presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable
accuracy at any time the financial position of the charity and to enable them to ensure that the
financial statements comply with the Charities Act 2011 and the applicable Charities (Accounts and
Reports) Regulations.
They are also responsible for safeguarding the assets of the charity and taking reasonable steps for
the prevention and detection of fraud and other irregularities. The trustees are responsible for the
maintenance and integrity of the charity and financial information included on the charity's website.
Legislation in the United Kingdom governing the preparation and dissemination of financial
statements may differ from legislation in other jurisdictions.
This report has been approved by the PCC on 30 March 2022 and signed on its behalf by:
Fr. Nicholas Wheeler
Chair

The PCC of Holy Trinity and St Saviour, Upper Chelsea
INDEPENDENT EXAMINER'S REPORT to the Trustees of the Parochial Church Council of the
Ecclesiastical Parish of Holy Trinity and St Saviour Upper Chelsea
I report to the charity trustees on my examination of the accounts of the charity for the year ended
31 December 2021.
Responsibilities and basis of report
As the charity's trustees, you are responsible for the preparation of the accounts in accordance with
the requirements of the Charities Act 2011 ("the Act").
I report in respect of my examination of the Trust's accounts carried out under section 145 of the
2011 Act and in carrying out my examination, I have followed all the applicable Directions given by
the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
The charity's gross income exceeded £250,000 and l am qualified to undertake the examination by
being a qualified member of The Institute of Chartered Accountants in England and Wales.
I have completed my examination. I confirm that no material matters have come to my attention in
connection with the examination which gives me cause to believe that in, any material respect:
the accounting records were not kept in accordance with section 130 of the Charities Act; or
the accounts did not accord with the accounting records; or
the accounts did not comply with the applicable requirements concerning the form and content of
accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any
requirement that the accounts give a 'true and fair, view which is not a matter considered as 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.
John Millidge ACA
Simpson Wreford & Partners
Suffolk House
Date: 31 March 2022
George Street
Croydon CRO OYN

The PCC of Holy Trinity and St Saviour, Upper Chelsea
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021
Unrestricted
General Designated Restricted 2021 total
funds
funds
funds
funds
Unrestricted
General Designated Restricted 2020 total
funds
funds
funds
funds
Income and endowments from:
Donations and legacies
Charitable activities
Other trading activities
Investments
Total
135,817
211,632
1,868
117
349,434
73,740
2,066
12,987
39
88,833
132,952
4,279
342,509
217,977
14,855
157
575,498
131,440
157,331
1,478
1,005
291,254
17,057
34,169
1,473
182,666
158,804
1,478
1,256
344,204
251
17,308
137,231
35,642
Expenditure on:
Raising funds
Charitable activities
Other
Total
298
20,451
23,328
44,077
298
328,554
29,047
357,899
280,117
5,719
285,836
27,985
293,304
5,209
31,873
330,386
27,985
293,304
5,209
31,873
330,386
Net incomel(expenditure)
63,598
44,755
109,246
217,599
(2,050
12,099
3,770
13,818
Transfers between funds
11
42,405
49,486
(91,891)
21,006
(21,006)
Other gains/(losses)
11
(597)
(597)
(2,250)
(129,688) (131,938)
Net movement in funds
105,405
94,242
17,355
217,002
16,706
(8,907) (125,919) (118,120)
Reconciliation of funds..
Total funds brought forward
Total funds carried forward
3,054
108,459
111,999
206,241
251,137
268,492
366,190
583,192
(13,652)
3,054
120,906
111,999
377,055
251,137
484,310
366,190
The results set out above have been derived entirely from continuing operations.
The notes on pages 13 to 19 form part of these financial statements.
10

The PCC of Holy Trinity and St Saviour, Upper Chelsea
BALANCE SHEET AS AT 31 DECEMBER 2021
Unrestricted
General Designated Restricted 2021 total
funds
funds
funds
funds
2020 total
funds
Current assets
Debtors
Cash at bank and in hand
Total current assets
28,420
117,624
146,044
6,318
204,648
210,966
1,650
273,555
275,204
36,388
595,826
632,214
27,772
396,934
424,706
10
Creditors: amounts falling due
37,584
4,725
6,712
49,022
58,516
Net current assets/(liabilities)
108,459
206,241
268,492
583,192
366,190
Total assets less current
liabilities
108,459
206,241
268,492
583,192
366,190
Total net assets or liabilities
108,459
206,241
268,492
583,192
366,190
The notes on pages 13 to 19 form part of these financial statements.
11

The PCC of Holy Trinity and St Saviour, Upper Chelsea
CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2021
2021
2020
Net income/(expenditure)
Other gains/(losses)
Transfers between funds
Change in debtors
Change in creditors
Cash at bank and in hand
217,599
(597)
13,818
(131,938)
(8,616)
(9,494)
198,892
13,870
19,004
(85,245)
Cash at bank and in hand at the beginning of the year
396,934
482,179
Total cash at bank and in hand at the end of the year
595,826
396,934
The notes on pages 13 to 19 form part of these financial statements.
Approved by the Trustees on 30 March 2022 and signed on their behalf by
Fr. Nicholas Wheeler
David Fairlamb
Chair
Treasurer
12

The PCC of Holy Trinity and St Saviour, Upper Chelsea
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
Note 1
Basis of
re
aration
Basis of accounting
These accounts have been prepared under the historical cost convention with items recognised at
cost or transaction value unless othenmise stated in the relevant note(s) to these accounts.
The accounts have been prepared in accordance with:
the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic
of Ireland (FRS 102) issued on 16 July 2014
the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS
102), and
the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.
The financial statements are presented in sterling and are rounded to the nearest pound.
Going concern
The trustees have assessed whether the use of the going concern assumption is appropriate in
preparing these financial statements. The trustees have made this assessment in respect to a period
of one year from the date of approval of these financial statements.
The trustees of the charity have concluded that there are no material uncertainties related to events
or conditions that may cast significant doubt on the ability of the charity to continue as a going
concern. The trustees are of the opinion that the charity will have sufficient resources to meet its
liabilities as they fall due.
Change of accounting policy
The accounts present a true and fair view and no changes have been made to the accounting policies
adopted.
Changes to accounting estimates
No changes to accounting estimates have occurred in the reporting period.
Material prior year errors
No material prior year error has been identified in the reporting period.
Note 2
Accountin
olicies
Income
Recognition of income are included in the Statement of Financial Activities when:
13

The PCC of Holy Trinity and St Saviour, Upper Chelsea
the charity becomes entitled to the resources;
it is more likely than not that the trustees will receive the resources;
the monetary value can be measured with sufficient reliability.
There has been no offsetting of assets and liabilities, or income and expenses, unless required or
permitted by the FRS 102 SORP or FRS 102.
Grants and donations are only included in the SOFA when the general income recognition criteria
are met (5.10 to 5.12 FRS102 SORP).
Legacies (if any) are included in the SOFA when receipt is probable, that is, when there has been
grant of probate, the executors have established that there are sufficient assets in the estate and
any conditions attached to the legacy are either within the control of the charity or have been met.
The charity received government grants in the reporting period that are recognised when there is
reasonable assurance that the grant conditions will be met and the grants will be received.
Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift
Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition
to the same fund as the initial donation unless the donor or the terms of the appeal have specified
otherwise.
Contractual income and performance related grants were only included in the SOFA once the charity
has provided the related goods or services or met the performance related conditions.
The value of any voluntary help received is not included in the accounts.
Income from interest is included in the accounts when receipt is probable and the amount receivable
can be measured reliably.
Membership subscriptions received in the nature of a gift are recognised in Donations.
Recognition of expenditure and liabilities
Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation
committing the charity to pay out resources and the amount of the obligation can be measured with
reasonable certainty.
Governance costs comprise all costs involving public accountability of the charity and its compliance
with regulation and good practice.
The charity made no redundancy payments during the reporting period.
No material item of deferred income has been included in the accounts.
The charity has creditors which are measured at settlement amounts less any trade discounts.
A liability is measured on recognition at its historical cost and then subsequently measured at the
best estimate of the amount required to settle the obligation at the reporting date.
Assets
Debtors (including trade debtors and loans receivable) are measured on initial recognition at
settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they
are measured at the cash or other consideration expected to be received.
14

The PCC of Holy Trinity and St Saviour, Upper Chelsea
Note 3
Income
Unrestricted
General Designated Restricted 2021 total
funds
funds
funds
funds
Unrestricted
General Designated Restricted 2020 total
funds
funds
funds
funds
2019 total
funds
Donations and legacies
Donations and gifts
Gift Aid
Grants
Total
116,862
17,215
1,740
135,817
68,546
5,194
18,275
2,786
111,891
132,952
203,683
25,195
113,631
342,509
111,239
20,201
14,202
2,855
29,105
5,065
154,545
28,121
219,682
26,645
73,740
131,440
17,057
34,169
182,666
266,327
Charitable activities
Special services & events
Property usage
Chair hire, door sale & sundry
Total
6,140
205,492
2,066
8,206
205,492
4,279
217,977
5,758
151,573
5,758
151,573
1,473
158,804
24,255
193,115
13,129
280,308
4,279
4,279
1,473
1,473
211,632
2,066
157,331
Other trading activities
Sales
Sundry income
Total
1,868
12,987
14,855
1,445
33
1,478
1,445
33
1,478
3,564
1,865
5,428
1,868
12,987
14,855
Income from investments
Interest income
Total
117
117
39
39
157
157
1,005
1,005
251
251
1,256
1,256
2,575
2,575
Total income
349,434
88,833
137,231
575,498
291,254
17,308
35,642
344,204
554,638
Other than the two Government grants mentioned in the next note, the charity received a restricted
£20,000 grant from The Kathleen Hannay Memorial Charity to support the costs with music.
Note 4
Government
rants
The charity received two Government grants in 2021 (£nil in 2020):
i) an unrestricted £1,740 Listed Places of Worship Grant scheme from the Department for Digital,
Culture, Media & Sport to reimburse the VAT paid over qualified maintenance costs in the
previous twelve months; and
ii) a restricted £91,891 Culture Recovery Fund for Heritage: Second Round, from The National
Lottery Heritage Fund, Historic England and the Department for Digital, Culture, Media & Sport.
As all the conditions of this grant were met, the charity was allowed to establish a designated
Emergency Reserve Fund of £43,264. The balance was to replenish the diminished reserves
as a result of Covid-19 restrictions and to provide funds during the return to more normal levels
of activity, including funding towards our annual Arts and Crafts Festival held in September
2021.
15

The PCC of Holy Trinity and St Saviour, Upper Chelsea
Note 5
enditure
Unrestricted
General Designated Restricted 2021 total
funds
funds
funds
funds
Unrestricted
General Designated Restricted 2020 total
funds
funds
funds
funds
Expenditure on raising funds
298
298
Expenditure on charitable activities:
Ministry
Staff costs
Professional & other fees
Governance costs
Bank & other charges
Building and maintenance
Insurance
Heating, Water and Lighting
Office, Telephone & Internet
Sacristy and Votives
Donations & gifts
Music
General and Sundries
Directors Pay
Scholars
Marketing
Total expenditure on charitable
activities
90,376
55,788
27,177
4,922
1,481
26,575
15,456
19,687
19,341
3,406
414
9,393
6,103
90,376
57,540
28,677
5,622
1,976
26,575
15,456
19,687
20,023
3,406
414
28,903
15,132
9,900
4,400
468
106,091
56,157
29,675
3,587
1,741
24,426
15,552
18,025
13,808
487
1,025
17,281
5,450
106,091
56,157
29,675
4,292
2,039
26,454
15,552
18,025
13,907
487
1,025
30,338
11,126
9,900
4,400
918
1,752
1,500
700
76
705
236
2,028
418
62
682
99
12,625
3,473
6,886
5,556
9,900
4,400
468
4,245
803
8,813
4,873
9,900
4,400
918
280,117
20,451
27,985
328,554
293,304
5,209
31,873
330,386
Other
Cost of Sales
Total other expenditure
5,719
5,719
23,328
23,328
29,047
29,047
Total expenditure
285,836
44,077
27,985
357,899
293,304
5,209
31,873
330,386
The breakdown of governance costs was as follows:
2021
2020
Governance costs
Independent Examiner's Fees
Legal fees
Total
2,100
3,522
5,622
2,000
2,292
4,292
Note 6
Paid em
lo
ees
2021
2020
Salaries and wages
Social security costs
Pension costs: defined
contribution
Total staff costs
55,275
981
53,664
1,256
1,284
57,540
1,237
56,157
No employees received employee benefits (excluding employer pension costs) for the reporting
period of more than £60,000 and none were considered key management.
The charity's average head count was 2.
There were no ex~gratia payments to employees and others (excluding trustees) and no redundancy
or termination payment was made in the period.
Note 7
Defined contribution
ension
The charity assesses each employee for eligibility as a jobholder under the auto-enrolment system.
Any eligible jobholders are auto-enrolled to a group money purchase defined contribution pension
16

The PCC of Holy Trinity and St Saviour, Upper Chelsea
scheme. The assets of the scheme are held separately from those of the charity in an independently
administered fund. The pension cost represents the contributions payable under the scheme by the
charity and the charity has no further liability other than the payment of those contributions and the
jobholder is responsible for their own pension fund with the pension administrators.
Note 8
Debtors and
re
ments
2021
2020
Trade debtors
Prepayments
Other debtors
Total
27,833
6,557
1,998
36,388
9,253
5,350
13,168
27,772
Note 9
Creditors
Amounts falling due
within one year
2021
2020
Trade creditors
Accruals and deferred income
Taxation and social security
Other creditors
Total
15,302
27,631
1,089
5,000
49,022
13,473
38,947
1,096
5,000
58,516
Additionally, for the next four years, the charity will pay £8,735 per annum on a photocopier lease.
The movement of the deferred income account was as follows:
2021
2020
Balance at the start of the reporting period
Amounts added in current period
Amounts released to income from previous periods
Balance at the end of the reporting period
34,403
212,210
(231,086)
15,527
34,403
34,403
Note 10 Cash at bank and in hand
2021
2020
Short term cash investments
Cash at bank and on hand
Total
368,631
227,195
595,826
325,328
71,606
396,934
17

The PCC of Holy Trinity and St Saviour, Upper Chelsea
Note11
Charit funds
2021
Fund
balance
brought
forward
Fund
balances
carried
forward
Income Expenditure
Transfer
Gains and
losses
Unrestricted - General: Holy Trinity & St S;
Designated - Arts & Crafts Festival
Designated - Assistant Priest
Designated - Breakfast Club
Designated - Clergy Vestments
Designated - Denyse de Mauny
Designated - Emergency Reserve
Designated Flower Guild
Designated - Friends
Designated - Junior Church
Designated - Music
Designated - Rector's Discretionary Fund
Restricted - Culture Recovery Fund 21
Restricted - The Kathleen Hannay Grant
Restricted - Sloane Square Choral Society
Restricted - Vicarage Fund
Total
3,054
349,434
19,485
46,925
285,836
25,671
372
42,405
6,186
297
(597)
108,459
46,850
177
177
938
100,000
640
(297)
33
100,033
43,271
2,841
43,264
1,044
(1,008)
6,077
1,090
5,016
9,901
300
91,891
20,000
25,340
4,279
(83)
313
9,204
1,450
243
12,871
5,085
6,235
1,749
(91,891)
20,000
23,164
225,328
583,192
25,809
225,328
366,190
27,985
575,498
357,899
(597)
The Arts & Crafts Festival has been held for several years, and in 2020 the charity has created a
designated fund with any surplus generated being transferred to the general fund at the end of each
year. Conversely, when the festival runs at a loss, the general fund will need to finance the festival
by transferring moneys to cover for the loss.
In 2017 the charity received a legacy from Denyse de Mauny, which was initially included in the
Friends fund. However, in 2020 it was decided that it was better to create a separate designated
fund for this legacy. During the year, residual donations into the Friends account are transferred to
the general fund, to help with the running costs of Holy Trinity Church.
In June 2021, the charity started raising funds with the aim of employing a full time Assistant Priest
and all donations for that purpose are allocated to the Assistant Priest fund.
Thanks to the Culture Recovery Fund for Heritage: Second Round, the charity was able to establish
a designated Emergency Reserve Fund with £43,264, which covers 6.5 weeks of the expenditure of
the general fund.
The funds received in relation to the Music Fund came from those wishing to support the charity's
tradition of music in worship. These funds will help with the appointment of a Director of Music. The
charity also intends to appoint a team of choral scholars to work with the charity's singer and create
a children's choir in partnership with local state and private schools.
The charity also received a restricted £20,000 grant from The Kathleen Hannay Memorial Charity to
support its music plans.
When the Flower Guild was founded in 2020, a group of parishioners, who add floral beauty to the
church, self-financed the cost of the flowers with the exception of the lilies for All Souls's day, when
members of the congregation contributed for the flowers. In 2021, some members of the Guild
continued to pay directly for the flowers, but it was considered best to establish a fund on which
moneys could be drawn to pay for flowers when the arrangers on the rota would not be doing so.
The fund was mainly supported by donations of some of its members, the surplus generated by the
Garden Café run by the Guild in September and by the purchase of lilies by members of the
congregation during two liturgical festivals.
The restricted Vicarage fund holds the proceeds of sale of rectory flats in 1998. The diocese, pending
a suitable, property related, application for their use being made by the PCC, holds the funds.
18

The PCC of Holy Trinity and St Saviour, Upper Chelsea
The extraordinary loss in 2021 was mainly due to the unilateral decision of Cards for Good Causes
of not paying the full amount they owed us for the sale of the Charity's Christmas cards in 2020. In
the 2020, the restricted funds showed a loss of £128,950 corresponding to the transfer of
Intermission Youth Theatre's funds to the new charity, Intermission Youth, and the release of the T-
shirts fund to its legitimate owner.
2020
Fund
balance
brought
forward
Fund
balances
carried
forward
Income Expenditure
Gains and
losses
Transfer
Unrestricted General: Holy Trinity & St Saviour
Designated - Arts & Crafts Festival
Designated - Breakfast Club
Designated - Clergy Vestments
Designated - Denyse de Mauny
Designated - Friends
Designated - General Saved Funds
Designated - Junior Church
Designated - Music
Designated - Rector's Discretionary Fund
Restricted - Cadogan Building Fund
Restricted Harrods Chaplaincy
Restricted - Intermission Youth Theatre (several funds)
Restricted - Tshirts
Restricted - Sloane Square Choral Society
Restricted - Vicarage Fund
Total
(13,652)
291,254
2,785
293,304
1,233
21,006
(1,553)
(2,250)
3,054
176
938
177
938
100,000
(83)
(o)
313
9,204
1,450
100,000
(101,090)
(18,364)
99,918
18,113
313
1,090
251
13,178
3,973
1,450
1,090
938
128,950
738
20,011
225,328
484,310
1,090
938
(128,950)
(738)
35,642
29,845
25,809
225,328
366,190
344,204
330,386
(131,938)
Note 12 Transactions with trustees and related arties
The charity is part of the Diocese of London, and, therefore, material interdependencies between
the Church and the Diocese arise as a consequence of this relationship. For reporting purposes, the
charity and Diocese are not treated as related parties as defined in FRS 102.
The Rector and Assistant Priest, both trustees of the charity, received housing related benefits,
directly or indirectly, of £3,369 during the year. Rectory water rates totalled £228, Assistant Priest's
service charge and council tax £3,141 (2020: £6,982, this higher amount includes Rectory water
rates of £313 and £3,740 for the Assistant Priest's service charge and council tax as well as moving
expenses and resettlement grant). No other trustees have been paid any remuneration or received
any other benefits from an employment with the charity or a related entity this year and the preceding
year.
No trustees, expenses for fulfilling their duties have been incurred this year and the preceding year.
Costs relating to legitimate church business of £2,292 was reimbursed to six trustees (2020: £1,890
to five trustees).
At the end of 2021, the Rector, in his role as Chaplain to the Worshipful Company of Wheelwrights,
owed £83 to the charity, which was paid in February 2022. The charity has accrued £1,450 for the
potential liability of in future reimbursing the Rector for any expenses he might claim for the period
July to December 2021.
19