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 2024
The PCC of Holy Trinity and St Saviour, Upper Chelsea
Index to the Report and Financial Statements
| Page | |
|---|---|
| Charity’s Information | 2 |
| Trustees’ Annual Report | 3 |
| Independent Examiner’s Report | 8 |
| Statement of Financial Activities | 9 |
| Balance Sheet | 10 |
| Cash Flow Statement | 10 |
| Notes to the Financial Statements | 11 |
1
The PCC of Holy Trinity and St Saviour, Upper Chelsea
CHARITY’S INFORMATION
Charity name The Parochial Church Council of the Ecclesiastical Parish of Holy Trinity and St Saviour Upper Chelsea
Charity working name Holy Trinity Sloane Square (Holy Trinity)
Trustees Rector: Canon Michael Robinson – from Sep 2024 Assistant Priest: Fr Yaroslav Sky Walker – until Sep 2024 Churchwardens: Carolyn Hallett – re-elected in 2023 Jeffrey Kabel – re-elected in 2023 Members: Until 2027: Michael Ashcroft Sameer Baajun Michael Brough Gerard Brown Until 2026: Vis. MayLin de Chezelles Robin Hellier Kevin Muncey Until 2025: Jayne Chng Gill Dunley (ex Officio) Gogo-Rose Ilo Marianne Paltzer-Studer Wendy Workman Until 2024: Helen Rice – until May 2024 Harry Forbes – until October 2024 Deanery Synod Reps Until 2025: Edward Collet Joseph Goodhart – until November 2024 Effiong Onoyom Hon. Treasurer: Until 2026: Julian Burns Hon Secretary of the PCC: Sir Martin Bonham (yearly rolling)
Independent Examiner John Millidge ACA Simpson Wreford & Partners Suffolk House, George Street Croydon CR0 0YN Bankers National Westminster Bank Ltd
Registered charity number 1134650 Registered office 146 Sloane Street, London SW1X 9BZ
2
The PCC of Holy Trinity and St Saviour, Upper Chelsea
TRUSTEES’ ANNUAL REPORT
2024 was a year of clergy change. Having been in Interregnum since October 2023 following the retirement of Revd Canon Nicholas Wheeler, we were delighted to announce in May, the appointment of The Revd Canon Michael Robinson from St Edmundsbury Cathedral as the new Rector. Father Michael’s installation service took place on 30 September and was conducted by the Archdeacon of Middlesex and the Bishop of Kensington. We were delighted to welcome Father Michael, his wife Kate and their children to the Holy Trinity congregation and we are so pleased they have settled in so well.
Just prior to Father Michael’s arrival, we bade farewell to our Associate Priest, Father Yaroslav Sky Walker, who headed north to take up the position of vicar at Christ Church Hampstead. We are grateful for the work he did during Father Nicholas’ absence and the Interregnum.
We also said goodbye to Oliver Pearce, our part time Events Assistant, who moved out of London this year. Plans are in place to recruit a replacement next year to support our hardworking Events Manager, Clinton McMaster.
At our Annual Parochial Church Meeting, we were delighted that two outgoing members of the PCC stood for re-election and were duly elected to serve another term along with one new member. Our Churchwardens, Jeffrey Kabel and Carolyn Hallett were also re-elected to office.
The church continues to host regular ongoing meetings/events including weekly Al-Anon meetings and Sloane Square Choral rehearsals (and termly concerts), monthly Kensington & Chelsea Over 50’s Forum talks and quarterly Kings Road Business Partnership meetings.
We were delighted that Bishop Michael Marshall’s new book, Lent with the Beloved Disciple, was the basis of this year’s Lent course and we were pleased to host an art exhibition of Krystyna Dankiewicz’s work in the summer.
Pastorally we were delighted to conduct eleven baptisms in 2024, and one wedding. The wedding was for our own Director of Music, Max Barley and Lydia, and was a great occasion with wonderful music, as you would expect! In 2024 we mourned the loss of Christopher Walker, Martin Cleveland and Penny McLauglan from the congregation, and conducted three funerals, one Thanksgiving Service, one Memorial Service and two Requiem Mass services during the year. We were delighted that Bishop Michael conducted the Confirmation Service in June.
It was another great year of music at Holy Trinity. The community choir, Songs & Soup, which meets on Tuesdays at 1pm has gone from strength to strength and regularly there are over 40 people attending each week now. The Songs & Soup choir were involved in the St Matthew Passion and Messiah performances at the church this year and even had a “set” on the stage at Duke of York Square as part of the festivities to mark the switching on of the Kings Road Christmas lights! We extend our grateful thanks to Max Barley and Andrew for their commitment to this new choir. We were also pleased to run an occasional free 30-minute recital programme on Tuesdays giving music students an opportunity to perform in front of an audience. We hope to hold more recitals in 2025.
Other highlights of the musical year included Vienna in Chelsea on New Year’s Day, a wonderful performance of Bach’s St Matthew Passion on Palm Sunday, Faure’s Requiem at the evening All Souls service and a stirring performance of Handel’s Messiah on 21 December. Four members of the choir along with Max Barley, sang three pieces on Petroc Trelawny’s Radio 3 Breakfast Programme on Christmas morning, for the second year running, and we were delighted that the Chelsea Summer Music Festival ran again during The Chelsea Flower Show Week.
The Patio Garden Cafe ran again this year during The Chelsea Flower Show and was a great success, despite the Sloane Street roadworks and a very soggy first two days. Over £4,000 was raised for the church, the best result yet! We are lucky to have such an enthusiastic band of bakers and helpers who turn out year after year and work so hard during the week and of course we are blessed to have our wonderful Events Manager, Clinton McMaster, who makes sure everything runs smoothly.
3
The PCC of Holy Trinity and St Saviour, Upper Chelsea
Due to changes in their borough scheduling, Open City only ran over one weekend in September this year, but we were able to provide guided tours of the church on the Sunday afternoon, and on Saturday visitors were able to follow a “self-guided” tour. Open City is something we want to continue to be part of so we look forward to being able to offer tours again in 2025.
We were blessed with huge generosity again this year from the Holy Trinity congregation and the families of Holy Trinity and Garden House Schools for monthly donations for the local Foodbank and the Harvest Festival appeal. Several van and carloads of goods were sent to Glass Door, the Kensington & Chelsea Foodbank and the St Luke’s Foodbank. Thanks to a significant donation in 2023, the Parish was able to send £1,000 a month each to the Kensington and Chelsea Food Bank to Glass Door throughout 2024.
Cards for Good Causes returned to Holy Trinity Church in October, and despite the roadworks still being underway on Sloane Street, the shop saw brisk business right up until the week before Christmas and the shop reported very good sales once again.
In November, we marked All Saints and All Souls on the same day and were pleased to see good numbers attending both services. People whose funerals had taken place in the church during the year were invited to the special All Souls evening service which featured a performance of Faure’s Requiem. This year we hosted the Civic Borough Act of Remembrance attended by the Mayor and Deputy Mayor, local dignitaries, several members of the Armed Forces and representative of local schools. We welcome over 750 people to the service. We were also pleased, for the first time, to hold a Remembrance Service in church on Armistice Day for the pupils from both our Federation Schools. Over 500 people attended the short, but meaningful service and we were very pleased at this way of connecting church and school.
December started with a very well attended Advent Carol Service and we hosted a large number of Carol Services for the local community, including John Lewis Partnership, Cadogan Estate, Garden House, Newton Prep and More House schools as well as our own Holy Trinity Primary School. Many regular organisations returned for their Carol Concerts, and we were delighted to welcome some new people this year including The English Baroque Choir and the London Concert Choir.
Our Crib Service, Midnight Mass and Christmas Day services were fantastically well attended with over 600 people across all three services and we also had nearly 500 people at Parish Carols earlier in December.
We extend grateful thanks to the many volunteers who give their time and energy to the church; the PCC and Churchwardens, the Cleaning Guild, the weekday Welcome Desk, Serving, Steward and Hospitality teams, Michael Brough on the Organ, Gogo in the patio garden and all those people who help to ensure our services of worship run smoothly and our pastoral mission to parishioners and the community is fulfilled. We also thank our Parish Office staff and Bishop Michael Marshall, Bishop in Residence, and Father Michael.
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 (with funds received from charity 1131700, The Parochial Church Council of The Ecclesiastical Parish of St Saviour’s Upper Chelsea).
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).
4
The PCC of Holy Trinity and St Saviour, Upper Chelsea
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 Rector, Churchwardens, 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 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.
The PCC has complied with the requirements imposed by the code under Section 54 of the Safeguarding and Clergy Discipline Measure 2016.
Objectives and activities for the public benefit
The Parochial Church Council (PCC) has the responsibility of cooperating with the Incumbent, 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 21st 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.
Financial results
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 & Expenditure
A summary of overall I&E is shown in the table below.
5
The PCC of Holy Trinity and St Saviour, Upper Chelsea
| Accounts Summary £ Income Less Expenditure Surplus/(Deficit) |
2024 | 2023 Total 651,760 507,517 |
|
|---|---|---|---|
| Holy Trinity St Saviour Total HT/SS SSCS Total 538,808 101,562 640,370 63,002 703,372 442,887 23,032 465,919 49,238 515,157 |
|||
| 95,921 78,530 174,451 13,764 188,215 |
144,243 |
Holy Trinity (HT)
HT’s income was £538,808 ( 2023: £485,742 ). This increase of £53,066 is mainly justified by the church receiving £32,000 higher donations and an extra £20,000 grant from The Kathleen Hannay Memorial Charity.
Expenditure was £442,887 ( 2023: £436,672 ), representing an increase of £6,215, mainly due to the extraordinary expenditure for the installation of the new rector.
St Saviour (SS)
The total income was £101,562 (2023: £116,218 ) as the Diocese of London took over of the St Saviour’s building during the last quarter of 2024.
Expenditure was higher at £23,032 (2023: £20,360) due to higher costs with maintenance and utilities.
Sloane Square Choral Society (SSCS)
2024 income was £63,002 ( 2023: £49,800 ) , a £13,202 increase, thanks to a 55% rise in income from ticket concerts and a 35% growth in membership subscriptions for singing in the choral group, while the expenditure at £49,238 ( 2023: £50,485 ) reduced by £1,247 due to savings with concerts.
Reserves
A summary of year-end reserves is shown in the following table.
| £ General Funds Holy Trinity & St Saviour Designated Funds Assistant Priest Denyse de Mauny Emergency Reserve Music Those In Need Other designated Restricted The Kathleen Hannay grant Maintenance Vicarage SSCS Total |
2024 2023 General & DesignatedRestricted General &Restricted Designated |
|---|---|
| 316,933 209,387 - 10,893 111,316 105,870 190,961 176,844 59,031 26,843 23,978 22,998 7,345 7,447 8,311 - 39,859 23,000 225,328 225,328 33,394 19,630 |
|
| 709,564 306,892 560,283 267,958 |
Overall reserves increased by £188,215, with a £107,546 increase in general reserves to £316,933.
Designated reserves increased by £41,735 to £392,631 due mainly to generous donations for the Music Fund and the earning of interest.
6
The PCC of Holy Trinity and St Saviour, Upper Chelsea
The PCC aims to maintain a General Reserves surplus to cover nine months of annual running costs, which equates to £279,546 based on 2024 actual expenditure adjusted for the lack of expenditure with St Saviour’s Church. At the year end the charity had a total of £316,933 of General Undesignated Reserves. At 31 December 2024 these reserves covered costs for circa 10.2 months. Additionally, the PCC set aside £190,961 as a Designated Reserve as shown on the previous 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 2025.
Concerns
The PCC is confident that the charity will continue prospering in 2025, but as it happens with all businesses and charities, the future still presents some uncertainties.
The loss of St Saviour’s income will have a high impact on the charity’s income, which will lead the Trustees to consider other avenues of income. Additionally, the continued development of the Music programme will rely on a £20,000 grant being secured annually.
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 General 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 7 May 2025 and signed on its behalf by:
Revd Canon Michael Robinson Trustee
Jeffrey Kabel Trustee
7
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 2023.
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 I 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.
………………………………………………………. Date: 21 May 2025 John Millidge ACA Simpson Wreford & Partners Suffolk House George Street Croydon CR0 0YN
8
The PCC of Holy Trinity and St Saviour, Upper Chelsea
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024
| No Unrestricted General Designated Restricted 2024 total tes funds funds funds funds Income and endowments 3 £ £ £ £ Donations and legacies 161,292 74,883 135,315 371,490 Charitable activities 252,412 - 17,157 269,569 Other trading activities 21,636 - 1,430 23,066 Investments 24,457 14,766 24 39,247 Total 459,797 89,649 153,926 703,372 Expenditure on: 5 Charitable activities 323,883 71,371 114,992 510,246 Other 4,911 - - 4,911 Total 328,794 71,371 114,992 515,157 Net income/(expenditure) 131,003 18,278 38,934 188,215 Transfers between funds 11 (23,457) 23,457 - - Other gains/(losses) 11 - - - - Net movement in funds 107,546 41,735 38,934 188,215 Reconciliation of funds: Total funds brought forward 209,387 350,896 267,958 828,241 Total funds carried forward 316,933 392,631 306,892 1,016,456 |
Unrestricted General Designated Restricted 2023 total funds funds funds funds £ £ £ £ 148,785 58,723 106,542 314,049 275,729 - 15,708 291,437 863 21,093 - 21,956 12,546 10,896 - 23,442 |
|---|---|
| 437,922 90,712 122,250 650,884 320,883 85,979 99,936 506,798 111 608 - 719 |
|
| 320,994 86,587 99,936 507,517 |
|
| 116,929 4,125 22,314 143,368 |
|
| (125,790) 125,790 - - 876 - - 876 (7,986) 129,915 22,314 144,243 217,373 220,980 245,644 683,998 |
|
| 209,387 350,896 267,958 828,241 |
The results set out above have been derived entirely from continuing operations. The notes on pages 11 to 16 form part of these financial statements.
9
The PCC of Holy Trinity and St Saviour, Upper Chelsea
BALANCE SHEET AS AT 31 DECEMBER 2024
| Unrestricted | Unrestricted | |||||
|---|---|---|---|---|---|---|
| tes | General Designated funds |
General Designated funds |
Restricted funds |
2024 total funds |
2023 total funds |
|
| No | £ | £ | £ | £ | £ | |
| Current assets | ||||||
| Debtors | 8 | 32,751 | 9,499 | 6,183 | 48,433 | 59,611 |
| Cash at bank and in hand | 10 | 331,932 | 390,924 | 318,987 | 1,041,843 | 881,418 |
| Total current assets | 364,683 | 400,423 | 325,170 | 1,090,276 | 941,030 | |
| Creditors: amounts falling due within one year | 9 | 47,750 | 7,792 | 18,277 | 73,819 | 112,789 |
| Net current assets/(liabilities) | 316,933 | 392,631 | 306,892 | 1,016,456 | 828,241 | |
| Total assets less current liabilities | 316,933 | 392,631 | 306,892 | 1,016,456 | 828,241 | |
| Total net assets or liabilities | 11 | 316,933 | 392,631 | 306,892 | 1,016,456 | 828,241 |
CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Net income/(expenditure) | 188,215 | 143,368 |
| Other gains/(losses) | - | 876 |
| Transfers between funds | - | - |
| Change in debtors | 11,179 | (25,325) |
| Change in creditors | (38,969) | 6,095 |
| Cash at bank and in hand | 160,424 | 125,014 |
| Cash at bank and in hand at the beginning of the year | 881,418 | 756,404 |
| Total cash at bank and in hand at the end of the ye | 1,041,843 | 881,418 |
The notes on pages 11 to 16 form part of these financial statements.
Approved by the Trustees on 7 May 2025 and signed on their behalf by
Revd Canon Michael Robinson Trustee Treasurer
Julian Burns
10
The PCC of Holy Trinity and St Saviour, Upper Chelsea
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
Note 1 Basis of preparation
1.1. Basis of accounting
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise 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.
1.2. 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.
1.3. Change of accounting policy
The accounts present a true and fair view and no changes have been made to the accounting policies adopted.
1.4. Changes to accounting estimates
No material changes to accounting estimates have occurred in the reporting period.
1.5. Material prior year errors
No material prior year error has been identified in the reporting period.
11
The PCC of Holy Trinity and St Saviour, Upper Chelsea
Note 2 Accounting policies
2.1. Income
Recognition of income are included in the Statement of Financial Activities (“SoFA”) when:
-
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.
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 but is described in the trustees’ annual report.
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.
2.2. 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.
The 2024 accounts include a £11,195 deferred income regarding rent for the first four months of 2024, which was paid a few days before the end of the year.
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.
2.3. 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.
12
The PCC of Holy Trinity and St Saviour, Upper Chelsea
Note 3 Income
| Donations and legacies Donations and gifts Gift Aid Legacies Grants Total Charitable activities Special services & events Property usage Chair hire, door sale & sundry Total Other trading activities Sales Sundry income Total Income from investments Interest income Total Total income Notes 4 |
Unrestricted General funds £ Designated funds £ Restricted funds £ 2024 total funds £ 136,725 66,060 90,604 293,389 13,567 8,823 3,811 26,201 11,000 - - 11,000 - - 40,900 40,900 |
Unrestricted General funds £ Designated funds £ Restricted funds £ 2023 total funds £ 132,575 45,837 80,545 258,956 13,710 2,886 3,547 20,144 2,500 10,000 - 12,500 - - 22,450 22,450 |
|---|---|---|
| 161,292 74,883 135,315 371,490 1,582 - - 1,582 250,830 - - 250,830 - - 17,157 17,157 |
148,785 58,723 106,542 314,049 1,782 - - 1,782 273,947 - - 273,947 - - 15,708 15,708 |
|
| 252,412 - 17,157 269,569 21,636 - - 21,636 - - 1,430 1,430 |
275,729 - 15,708 291,437 863 21,093 - 21,956 - - - - |
|
| 21,636 - 1,430 23,066 24,457 14,766 24 39,247 |
863 21,093 - 21,956 12,546 10,896 - 23,442 |
|
| 24,457 14,766 24 39,247 |
12,546 10,896 - 23,442 |
|
| 459,797 89,649 153,926 703,372 |
437,922 90,712 122,250 650,884 |
Note 4 Government grants
The charity did not receive Government grants in 2024 ( nil in 2023 ).
Note 5 Expenditure
| Expenditure on charitable activities: Ministry Staff costs 6 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 Marketing Total expenditure on charitable activities Other Cost of Sales Total other expenditure Total expenditure |
Unrestricted General Designated Restricted 2024 total funds £ funds £ funds £ funds £ 95,109 34,694 - 129,803 48,647 - 5,728 54,375 32,803 - - 32,803 1,487 - 733 2,220 1,959 159 797 2,914 20,364 - 21,066 41,430 15,363 - - 15,363 36,608 - - 36,608 16,828 - - 16,828 6,581 - 3,599 10,181 1,981 24,000 - 25,981 28,511 12,305 56,984 97,801 17,641 213 10,537 28,391 - - 13,500 13,500 - - 2,049 2,049 |
Unrestricted General Designated Restricted 2023 total funds £ funds £ funds £ funds £ 96,387 42,481 - 138,868 52,884 346 897 54,127 39,625 261 - 39,886 1,814 - 703 2,517 1,945 308 440 2,693 21,690 - 26,099 47,789 17,241 - - 17,241 43,025 - - 43,025 16,575 2,129 - 18,704 4,138 - - 4,138 580 3,591 - 4,171 14,199 35,012 47,847 97,059 10,779 1,849 8,329 20,956 - - 13,500 13,500 - - 2,122 2,122 |
Unrestricted General Designated Restricted 2023 total funds £ funds £ funds £ funds £ 96,387 42,481 - 138,868 52,884 346 897 54,127 39,625 261 - 39,886 1,814 - 703 2,517 1,945 308 440 2,693 21,690 - 26,099 47,789 17,241 - - 17,241 43,025 - - 43,025 16,575 2,129 - 18,704 4,138 - - 4,138 580 3,591 - 4,171 14,199 35,012 47,847 97,059 10,779 1,849 8,329 20,956 - - 13,500 13,500 - - 2,122 2,122 |
|---|---|---|---|
| 323,883 71,371 114,992 510,246 |
320,883 85,979 |
99,936 506,798 |
|
| 4,911 - - 4,911 |
111 608 |
- 719 |
|
| 4,911 - - 4,911 |
111 608 |
- 719 |
|
| 328,794 71,371 114,992 515,157 |
320,994 86,587 |
99,936 507,517 |
The breakdown of governance costs was as follows:
13
The PCC of Holy Trinity and St Saviour, Upper Chelsea
| Governance costs Independent Examiner's Fees Legal fees Total |
2024 £ 2,220 - 2,220 |
2023 £ 2,130 387 2,517 |
|---|---|---|
Note 6 Paid employees
| Salaries and wages Social security costs Pension costs: defined contribution Total staff costs |
2024 £ 53,171 - 1,203 54,375 |
2023 £ 51,329 1,585 1,212 54,127 |
|---|---|---|
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 pension
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 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 prepayments
| Trade debtors Prepayments Other debtors Total |
2024 £ 36,577 4,345 7,511 48,433 |
2023 £ 53,466 5,099 1,046 |
|---|---|---|
| 59,611 |
Note 9 Creditors
| Trade creditors Accruals and deferred income Taxation and social security Other creditors Total |
Amounts falling due within one year 2024 £ 2023 £ 23,158 26,197 44,033 80,377 1,628 1,215 5,000 5,000 73,819 112,789 |
|---|---|
14
The PCC of Holy Trinity and St Saviour, Upper Chelsea
Additionally, for the next year, the charity will pay £6,609 on a photocopier lease. The movement of the deferred income account was as follows:
| 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 |
2024 £ 52,625 117,215 (144,628) 25,212 |
2023 £ 15,651 165,316 (128,342) 52,625 |
|---|---|---|
Note 10 Cash at bank and in hand
| Short term cash investments Cash at bank and on hand Total |
2024 £ 871,975 169,868 1,041,843 |
2023 £ 661,919 219,499 |
|---|---|---|
| 881,418 |
Note 11 Charity funds
| Unrestricted - General: Holy Trinity & St Saviour Designated - Assistant Priest Designated - Breakfast Club Designated - Denyse de Mauny Designated - Emergency Reserve Designated - Friends Designated - Junior Church Designated - Music Designated - Rector's Discretionary Fund Designated - Those In Need Restricted - Drapers Restricted - The Kathleen Hannay Grant Restricted - Maintenance Restricted - Ouseley Restricted - Sloane Square Choral Society Restricted - Vicarage Fund Total |
2024 |
|---|---|
| Fund Fund balance brought forward £ Income £ Expenditure £ Transfer £ Gains and losses £ balances carried forward £ 209,387 459,797 328,794 (23,457) - 316,933 10,893 4,400 34,733 19,439 - - 122 - 122 - - - 105,870 5,445 - - - 111,316 176,844 9,279 - 4,838 - 190,961 - 840 - (820) - 20 5,085 - - - - 5,085 26,843 44,684 12,496 - - 59,031 2,240 - - - - 2,240 22,998 25,000 24,020 - - 23,978 - - - - - - - 40,000 31,690 - - 8,311 23,000 50,024 33,164 - - 39,859 - 900 900 - - - 19,630 63,002 49,238 - - 33,394 225,328 - - - - 225,328 |
|
| 828,241 703,372 515,157 - - 1,016,456 |
The Denyse de Mauny Fund was created as a separate designated fund to hold the funds received as a legacy and earns interest on a quarterly basis. 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. However, in 2024 this fund had higher expenditure than income, so funds from the General Fund were transferred to the Assistant Priest fund to cover the losses.
Also in 2021, the charity was able to establish a designated Emergency Reserve Fund with £43,264, but in February 2025 its level was raised to £279,546, to equal 9 months of annual running costs based on 2024 actual expenditure (adjusted for the lack of expenditure regarding St Saviour’s Church) and in accordance with the PCC reserves policy approved in that month.
15
The PCC of Holy Trinity and St Saviour, Upper Chelsea
In 2024, the Mosawi Foundation once again bestowed the church with two substantial donations: i) a £50k donation towards the maintenance of Holy Trinity’s building, which was ring-fenced in a restricted fund, and ii) a £25k to support the food bank and the church’s work to help homeless people in the area. It is from the latter that the church donates to the Kensington & Chelsea Foodbank and to Glass Door a monthly £1k to each and will continue to do so until the Those In Need Fund is depleted.
The funds received in relation to the Music Fund came from those wishing to support the charity’s tradition of music in worship.
In 2024, the charity received two restricted £20,000-grant from The Kathleen Hannay Memorial Charity to support its music plans, which will continue to be utilised for such purpose. The charity used the last £900 that were still available from the £3,000 grant received the year before from the Ouseley Trust specifically to pay for choral scholars’ fees.
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.
| Unrestricted - General: Holy Trinity & St Saviour Designated - Assistant Priest Designated - Breakfast Club Designated - Denyse de Mauny Designated - Emergency Reserve Designated - Friends Designated - Junior Church Designated - Music Designated - Rector's Discretionary Fund Designated - Those In Need Restricted - Drapers Restricted - The Kathleen Hannay Grant Restricted - Maintenance Restricted - Ouseley Restricted - Sloane Square Choral Society Restricted - Vicarage Fund Total |
**2023 ** |
|---|---|
| Fund Fund balance brought forward £ Income £ Expenditure £ Transfer £ Gains and losses £ balances carried forward £ 217,373 437,922 320,994 (125,790) 876 209,387 47,984 5,425 42,515 - - 10,893 177 - 55 - - 122 101,348 4,522 - - - 105,870 43,840 6,374 - 126,630 - 176,844 - 840 - (840) - - 5,085 5,085 20,797 47,551 41,506 - - 26,843 1,749 1,000 509 - - 2,240 - 25,000 2,002 - - 22,998 - 350 350 - - - 1 20,000 20,001 - - - - 50,000 27,000 - - 23,000 - 2,100 2,100 - - - 20,315 49,800 50,485 - - 19,630 225,328 - - - - 225,328 |
|
| 683,998 650,884 507,517 - 876 828,241 |
Note 12 Transactions with trustees and related parties
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 the Assistant Priest, both trustees of the charity during 2024, received housing related benefits, directly or indirectly, of £2,749 during the year ( 2023: £3,634 ). 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 church business of £2,102 were reimbursed to four trustees ( 2023: £5,573 to four trustees ).
16