Charity registration number: 1134828
The Church of St Mary, Bourne Street, Pimlico
Annual Report and Financial Statements for the Year Ended 31 December 2025
The Church of St Mary, Bourne Street, Pimlico
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 7 |
| Statement of Trustees' Responsibilities | 8 |
| Independent Examiner's Report | 9 to 10 |
| Statement of Financial Activities | 11 to 12 |
| Balance Sheet | 13 |
| Notes to the Financial Statements | 14 to 30 |
The Church of St Mary, Bourne Street, Pimlico
Reference and Administrative Details
Chairman The Reverend Andrew Stephen Walker Charity Registration Number 1134828 Principal Office 30 Bourne Street London SW1W 8JJ Auditor Field Sullivan Limited 9 Hare & Billet Road London SE3 0RB Bankers National Westminster Bank PLC Victoria Branch 169 Victoria St London SW1E 5NA CCLA Senator House 85 Queen Victoria Street London EC4V 4ET
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The Church of St Mary, Bourne Street, Pimlico
Trustees' Report
The Trustees of the Parochial Church Council present their report and the financial statements for the year ended 31 December 2025.
Aims and objectives
In accordance with the Parochial Church Councils (Powers) Measure 1956, the aim of the PCC is ‘to co-operate with the incumbent in promoting in the ecclesiastical parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical’.
The aim of St Mary’s remains what it has long been, to be a witness to the Catholic faith within the Church of England, drawing people (from a much wider area than its small geographical parish) to the worship of God through Catholic teaching and practice including, in particular, sacramental confession and spiritual direction, liturgy and fine music.
With the completion of the new Community Centre under the Pineapple Project, St Mary’s now has new opportunities to benefit the wider local community, by working with local organisations, including a programme of social action addressing the theme of isolation.
Events of 2025
Following the celebration in 2024 of the 150th Anniversary of the Church’s Dedication on 2 July 1874, 2025 was always going to be a quieter year. But it started with a visit on the Feast of the Epiphany from the Most Revd Stephen Cottrell, Archbishop of York. He had been due to visit St Mary’s in 2024, but was prevented at the last minute by another urgent engagement.
St Mary’s liturgical year was celebrated, as ever, with splendid music and traditional liturgy. Non-liturgical highlights included the usual Lent Course, which consisted of a series of talks by various speakers on the theme of ‘Prayer - the Church’s Banquet’. There were two meetings of the School of Religion: John Hilary talked about Belgravia: 200 Years of Change and Continuity and Fr Steffan Matthias talked about Friendship.
A highlight of the year was the concert of music and readings given in September to celebrate Father Andrew’s 40 years of ministry. The church was packed with relations and friends, past and present, with music supplied by an augmented group of St Mary’s musicians. The programme was divided into sections each commemorating aspects of his various posts. This was a totally uplifting and joyous occasion.
The popular pre-Lent quiz was held again in 2025. Two very interesting visits were arranged by members of the congregation, one to the Society of Antiquaries, the other to the Foreign Office. The Walsingham Cell continued to meet and also went on its Parish Pilgrimage to Walsingham in early September.
Following the Quinquennial Inspection of the Church Fabric, work started in 2025 on the most urgent items identified in the Inspection Report, with work on the roof and roof furniture being completed in 2025, leaving the flèche and the chandelier due to be carried out in 2026. Also in 2025, significant improvements were commissioned to the sound and visual systems, which will improve the quality of the live-streaming of services.
The work on the restoration of many liturgical items, using the SS Peter & Paul and Jewels of the Madonna funds, which we have referred to for the last two years was completed in 2025, at least for now, with the restoration of the cope from Martin Travers red High Mass set made for Fr Whitby’s first Mass, and of a green Low Mass chasuble.
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The Church of St Mary, Bourne Street, Pimlico
Trustees' Report
Total attendance at the Sunday High Mass has generally been in the range 70-90. We continue to live-stream the High Mass and it remains available to view for 24 hours. We regularly have 20-25 people watching online, and around 10 who watch the Mass afterwards. Various people who watch online say that they feel part of our congregation through live-streaming. We also regularly upload sermons and musical clips, which are generally watched a few dozen times. Attendance at weekday High Masses is roughly half the Sunday number - it depends on the Feast being observed - and at the other services generally in single figures.
Our outreach to the homeless and vulnerable of central London continued to be led by the Presbytery housekeeper, Gloria Gardner, operating once a week and serving only the Victoria area.
The PCC held seven meetings in 2025, including the formal meeting after the APCM to elect the PCC officers. The PCC’s main concern during 2025 was how to increase giving to St Mary’s. An appeal was made to the congregation at the end of March to encourage giving, particularly by standing order, with a follow up appeal in Ave in July. This approach worked well, with a good result. Standing order giving increased from £67,045 in 2024 to £74,389 in 2025, and, based on current pledges, it should be £79,105 this year. Other Gift Aid giving rose from £27,392 to £45,718. The one disappointing aspect that hardly any of the newer members of the congregation set up standing orders.
Apart from finance, the other main issues discussed by the PCC during the year were:
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the safeguarding of children and vulnerable adults;
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the improvement of the sound system for the spoken word and agreement as to its usage, which excludes singing and music;
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recognition of the need for a review of the website design and content;
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buildings, fabric and ornaments issues, including the storage of the parish archive;
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reports from the Pine Apple Bourne Street Ltd. (PABS);
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reports from Deanery Synod representatives; and
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reports of St Mary’s Trust issues.
The number on the Electoral Roll at the time of the 2025 APCM was 103, compared to 171 the previous year; the lower number has resulted in our permitted number of representatives on Deanery Synod reducing from 3 to 2 for the period 2026 – 2029; it does not effect the PCC number which is calculated differently.
Finally, we again wish to record our gratitude for the leadership of our Vicar, Fr Andrew Walker. We were very sorry to hear of his decision, which he announced in January 2026, to retire later in the year. In July 2025, Fr Sam Korn, Honorary Assistant Curate, left St Mary’s to become Vicar of St Paul’s, Wokingham. We are very grateful for all that he did as St Mary’s during his stay of over 5 years, and wish him and his wife a very happy and fruitful time in Wokingham. In September, we welcomed Fr Justin Gau as his replacement and hope that he will have a happy and fruitful ministry among us. The other members of the College of Priests were Frs Gareth Davies, Stuart Leamy, Peter McGeary, Chris Newlands and Victor Stock. We continue to be grateful for everything that they all contribute to the life of St Mary’s. A former member of the College of Priests, Fr Michael Brotherton, sadly died in 2025; his ashes are being interred in the columbarium.
Public Benefit
St Mary’s PCC has regard to the Charity Commission’s guidance on public benefit. There are two aspects to St Mary’s public benefit: its day to day ministry, and the St Mary's Community Centre.
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The Church of St Mary, Bourne Street, Pimlico
Trustees' Report
St Mary’s ministers to its small parish, but also to those more widely scattered worshippers who find spiritual sustenance in its traditional liturgy and beautiful music, providing pastoral care to those who live in the parish and those who worship in the church.
To protect the charitable focus of the new centre, a new charity, Pine Apple Bourne Street Ltd, has been set up (as a company limited by guarantee) to operate the new facilities (see Note 22 to these Accounts for more information). St Mary’s will work with Pine Apple Bourne Street Ltd to provide a benefit to the wider local community (not limited to St Mary’s parish) by working with local organisations. These activities comprise providing food (and clothing) for the homeless around Victoria station, established originally during the pandemic. ESOL (English for Speakers of Other Languages) classes are offered (weekly in termtime) with an adjacent clothing bank, the latter staffed by volunteers from the congregation. Alcoholics Anonymous have three evening groups and one daytime group now running weekly through the year. Activities and drop in facilities for those with dementia and their carers, and also a coffee morning for the elderly and isolated took place from May to November 2025 but were discontinued due to lack of uptake.
As well as being used by the church congregation each week, St Mary’s Community Centre has been available for public hire; with fully commercial rates for outside organisations; a reduced rate for Belgravia and Westminster residents; and low cost for those with charitable status. Altogether it has been providing a hub for local activity which has been missing until now, creating a greater sense of belonging and community. Hirings include charity AGMs, PCC Away Days for local churches, birthday parties and Christmas wreath making.
The Francis Room is being used regularly for counselling and spiritual direction, and has almost 50% weekly occupancy.
We had projected that the number of users in the first year would be over 1,000 for the various activities and public hire and about 100 for congregational events. In practice, we are seeing approximately 1,400 different users a year, in addition to the groups mentioned above.
Safeguarding
The PCC continues to comply with the duty to have due regard to the House of Bishops’ Safeguarding Policy and Practice Guidance on safeguarding children and vulnerable adults. Good progress was made in 2025 with the uptake of Safeguarding training amongst those who have defined roles within the church community.
Safeguarding is a standing item on the PCC agenda, and a written report is normally provided for every meeting. The regular congregation includes small numbers of children, and relatively few young adults, though their numbers are increasing. Amongst the regular attenders there is a significant proportion of older people, some of whom are frail and/or housebound. Everyone is encouraged to look out for the welfare of others, and to urgently discuss any concerns they may have with the Safeguarding Officer or a member of the clergy.
Kate Woollcombe Gambrill has been the Parish Safeguarding Officer since January 2024. Faith Allsop has stepped down as Children’s Champion, and we thank her for her contribution.
Financial Review
The PCC’s accounts for 2025 have been subject to independent examination.
Overall, there was a surplus of £42,904 on the general fund in 2025, compared to a surplus of £14,082 in 2024. The general fund had net assets of £97,167 at the end of 2025, compared to £54,263 at the beginning of the year.
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The Church of St Mary, Bourne Street, Pimlico
Trustees' Report
Total general fund income in 2025 was £237,004 compared to £207,472 in 2024. The main reasons for this increase were the increase in one-off Gift Aid donations from £13,091 in 2024 to £31,846 in 2025 and the increase in planned Gift Aid giving from £81,436 in 2024 to £88,261 in 2025, leading to an increase in Gift Aid claimed from £23,674 in 2024 to £29,877 in 2025. Also, as building work started following the quinquennial inspection of the church fabric in 2024, the H & K Levy Trust promised additional grant of £10,450 in 2025 to cover the cost of the repair work to the roof and roof furniture (there was no grant made in 2024). These factors more than offset the reduction in one-off non-Gift Aid donations from an exceptional £34,752 in 2024 to £26,788 in 2025, and the reduction in income from church lettings from £14,295 in 2024 to £6,078 in 2025 as the Francis Holland School gave up using the undercroft and other rooms because it had acquired new property of its own nearby. The PCC received no bequests in 2025 or 2024.
General fund expenditure in 2025 was £210,879, up from £193,390 in 2024. This was mainly because expenditure on repair and maintenance of the church building increased from £3,065 in 2024 to £19,113 in 2025, including the work following the Quinquennial Inspection of the fabric mentioned above.
Although the Pineapple Project had been officially completed in November 2023, as reported last year, discussions about the total costs which were properly due continued with the contractor’s representatives throughout 2024 and were not concluded until late January 2025. The agreed total, covering also both parties’ claims for damages, was £2,070,184, exclusive of VAT, or £2,468,248 with VAT. The total cost of the project was £2,930,847, including VAT. This was £10,203 more than the provision shown for the total costs of the project in the 2023, and the net book value was adjusted accordingly. As the project was completed at the end of 2023, the depreciation of the book value, on a straight line basis over 50 years, was started last year, and has been continued in the 2025 accounts.
As a result of the settlement, the PCC received a further £64,373 in Listed Places of Worship VAT grants making a total of £454,104, and that the contribution required from St Mary’s Trust to meet the balance of costs over other funds raised was a further £328,466, making a total of £1,012,681.
During 2025, £60,290 was spent from the SS Peter & Paul fund, largely on enhancing the sound system to improve the live-streaming of services and also on the repair of vestments.
During the year, £4,722 was raised by St Mary’s for other charities, compared to £5,912 in 2024. £2,618 was raised for St Mary’s Cable Street £1,049 for Under One Sky, a local homeless charity, £779 for Friends of Calcutta Cathedral Relief Service and £275 for the Passage, another local homeless charity. But this only includes money paid to the PCC restricted funds to pass on to the charity and not, for example, cheques made payable to the charity itself given in response to a PCC appeal.
Overall, therefore, at the year-end, the PCC had total net assets of £2,930,325, largely in restricted funds, compared to £3,006,750 at the beginning of the year.
Reserves policy
The PCC's normal policy is only to maintain a reserve on the general (unrestricted) fund to cover one month’s costs, except where necessary to meet known future expenditure, as its objective is that current expenditure should be met by current giving and other income. Restricted Funds are maintained for specific purposes, which are set out in Note 20 of the Financial Statements.
Risk management policy
The PCC has considered the major risks which it faces. In its opinion, the PCC has established systems which, under normal conditions, should allow those risks to be mitigated to an acceptable level in its day to day operations.
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The Church of St Mary, Bourne Street, Pimlico
Trustees' Report
Structure, governance and management
The Parochial Church Council is a corporate body established by the Church of England. It operates under the Parochial Church Councils (Powers) Measure 1956. The PCC is a charity registered with the Charity Commission under number 1134828. The Annual Parochial Church Meeting (APCM) elects members of the PCC for three-year terms, a third of the members retiring each year. The Parish Priest, other clergy licensed to St Mary's, the Churchwardens, Deanery Synod Representatives and any Diocesan or General Synod Representatives are ex officio members of the PCC.
The following were members of the PCC during 2025 and up to the date of this report:
Fr Andrew Walker Chairman; ex officio (Vicar)
Martin Woolley ex officio (Churchwarden) until 24 June 2025
Jack Moore ex officio (Churchwarden and Lay Vice Chairman);
Robert Weaver ex officio (Churchwarden) from 24 June 2025; elected member until then
Kate Costeloe Secretary; co-opted member
Kris Romanski Treasurer; elected member until APCM 2026
Fr Sam Korn ex officio (Assistant Curate) until 27 July 2025
Fr Justin Gau ex officio (Assistant Curate) from 20 September 2025
Michelle Gurney ex officio (Deanery Synod)
David Parchot ex officio (Deanery Synod)
Zeb Micic elected member until APCM 2026
Andrew Probert elected member until APCM 2026
Peter Reed elected member until APCM 2026
David Crickmore elected member until APCM 2027
Vincent Pilgrim elected member until APCM 2027
Clive Osborne elected member until APCM 2027
David Marchese co-opted member
Alex Philips elected member from 11 May 2025 until APCM 2028
Kate Quill elected member from 11 May 2025 until APCM 2028
Stephen Beresford elected member from 11 May 2025 until APCM 2028
Stephen Borton elected member from 11 May 2025 until APCM 2028
Timothy Jones ex officio (Deanery Synod) until 10 July 2025;
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The Church of St Mary, Bourne Street, Pimlico
Trustees' Report
Mhairi Ellis elected member until 11 May 2025
Mark Rhodes elected member until 11 May 2025
Kate Woollcombe Gambrill elected member until 11 May 2025.
Disclosure of information to auditor
Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware.
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The Church of St Mary, Bourne Street, Pimlico
Statement of Trustees' Responsibilities
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustees to prepare financial statements for each financial 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 these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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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 enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the financial information included on the charity's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Approved by the trustees of the charity on 26 April 2026 and signed on its behalf by:
......................................... The Reverend Andrew Stephen Walker Chairman
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The Church of St Mary, Bourne Street, Pimlico
Independent Examiner's Report to the trustees of The Church of St Mary, Bourne Street, Pimlico
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2025 which comprise the Statement of Financial Activities, the Balance Sheet and related notes.
This report is made solely to the charity’s trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for my work, for this report, or for the opinions I have formed.
Responsibilities and basis of report
As the charity trustees of The Church of St Mary, Bourne Street, Pimlico 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 The Church of St Mary, Bourne Street, Pimlico'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.
An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no opinion as to whether the financial statements present a ‘true and fair’ view and my report is limited to those specific matters set out in the independent examiner’s statement.
Independent examiner’s statement
Since The Church of St Mary, Bourne Street, Pimlico's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of The Church of St Mary, Bourne Street, Pimlico as required by section 130 of the Act; or
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the financial statements do not accord with those records; or
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the financial statements do not comply with the accounting 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.
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The Church of St Mary, Bourne Street, Pimlico
Independent Examiner's Report to the trustees of The Church of St Mary, Bourne Street, Pimlico
...................................... TIm Sullivan ICAEW 9 Hare & Billet Road London SE3 0RB Date:.............................
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The Church of St Mary, Bourne Street, Pimlico
Statement of Financial Activities for the Year Ended 31 December 2025
| Note Income and Endowments from: Voluntary income 3 Activities for generating funds 4 Investment income 5 Church activities 6 Other income 7 Total income Expenditure on: Church activities 8 Raising funds 9 Total expenditure Gains/(losses) on investment assets Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 20 |
Unrestricted £ 222,810 12,403 696 10,620 7,254 253,783 (201,921) (8,958) (210,879) - 42,904 54,263 97,167 |
Restricted £ 13,393 - 2,446 2,280 - 18,119 (133,418) - (133,418) (4,030) (119,329) 2,952,487 2,833,158 |
Total 2025 £ 236,203 12,403 3,142 12,900 7,254 271,902 (335,339) (8,958) (344,297) (4,030) (76,425) 3,006,750 2,930,325 |
Unrestricted £ 171,387 19,719 1,424 7,873 7,069 207,472 (181,626) (11,764) (193,390) - 14,082 40,181 54,263 |
Restricted £ 11,176 2,569 4,292 - (9,259) 8,778 (105,177) (12) (105,189) (3,378) (99,789) 3,052,276 2,952,487 |
Total 2024 £ 182,563 22,288 5,716 7,873 (2,190) |
|---|---|---|---|---|---|---|
| 216,250 | ||||||
| (286,803) (11,776) |
||||||
| (298,579) | ||||||
| (3,378) | ||||||
| (85,707) 3,092,457 |
||||||
| 3,006,750 |
The notes on pages 14 to 30 form an integral part of these financial statements. Page 11
The Church of St Mary, Bourne Street, Pimlico
Statement of Financial Activities for the Year Ended 31 December 2025
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2025 is shown in note 20.
The notes on pages 14 to 30 form an integral part of these financial statements. Page 12
The Church of St Mary, Bourne Street, Pimlico
(Registration number: 1134828) Balance Sheet as at 31 December 2025
| Note Fixed assets Tangible assets 14 Investments 15 Current assets Stocks 16 Debtors 17 Cash at bank and in hand 18 Creditors: Amounts falling due within one year 19 Net current assets Net assets Funds of the charity: Restricted income funds Restricted funds Unrestricted income funds Unrestricted funds Total funds 20 |
2025 £ 2,785,713 - 2,785,713 776 82,055 80,095 162,926 (18,314) 144,612 2,930,325 2,833,158 97,167 2,930,325 |
2024 £ 2,843,749 70,537 |
|---|---|---|
| 2,914,286 | ||
| 316 472,499 143,206 |
||
| 616,021 (523,557) |
||
| 92,464 | ||
| 3,006,750 | ||
| 2,952,487 54,263 |
||
| 3,006,750 |
The financial statements on pages 11 to 30 were approved by the trustees, and authorised for issue on 26 April 2026 and signed on their behalf by:
.........................................
The Reverend Andrew Stephen Walker Chairman
The notes on pages 14 to 30 form an integral part of these financial statements. Page 13
The Church of St Mary, Bourne Street, Pimlico
Notes to the Financial Statements for the Year Ended 31 December 2025
1 Charity status
The charity is domiciled in England and Wales.
The address of its registered office is: 30 Bourne Street SW1W 8JJ
2 Accounting policies
Statement of compliance
The financial statements are prepared under the historical cost convention and 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 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
The Church of St Mary, Bourne Street, Pimlico meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) 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.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Judgements and key sources of estimation uncertainty
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the periods in which the estimate is revised where revisions affects only that period, or in the period of the revision and future periods where the revisions affects both current and future periods.
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The Church of St Mary, Bourne Street, Pimlico
Notes to the Financial Statements for the Year Ended 31 December 2025
Income and endowments
Collections are recognised when received by or on behalf of the PCC. Planned giving receivable under gift aid is recognised only when received. Income tax recoverable on gift aid donations is recognised when the income is recognised. Other donations, including candle box donations, are recognised when received. Grants and legacies to the PCC are accounted for as soon as the PCC is notified of its legal entitlement and the amount due is quantifiable and its ultimate receipt by the PCC is reasonably certain. Funds raised by fairs and similar events are accounted for gross when received. Sales of books and CDs are accounted for gross when received.
Income from letting of church premises and use of facilities is recognised when the rental is due. Dividends and interest are accounted for when receivable. Tax recoverable on such income is recognised in the same accounting year.
Gains and losses on investments
Realised gains or losses are those arising recognised when investments are sold. Unrealised gains are accounted for on revaluation of investments at 31 December.
Deferred income
Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred when:
- The donor specifies that the grant or donation must only be used in future accounting periods; or - The donor has imposed conditions which must be met before the charity has unconditional entitlement.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Activities directly relating to the work of the Church
The diocesan quota or parish share is accounted for when payable. Any quota unpaid at 31 December is provided for in these accounts as an operational (though not a legal) liability and is shown as a creditor in the Balance Sheet.
Grant expenditure
Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding obligation on the PCC.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
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The Church of St Mary, Bourne Street, Pimlico
Notes to the Financial Statements for the Year Ended 31 December 2025
Tangible fixed assets
Consecrated land and buildings and movable church furnishings
Consecrated and beneficed property is excluded from the accounts by s.10(2)(a) and (c) of the Charities Act 2011. No value is placed on movable church furnishings held by the churchwardens on special trust for the PCC and which require a faculty for disposal since the PCC considers this to be inalienable property. All expenditure incurred during the year on consecrated or benefice buildings and movable church furnishings, whether maintenance or improvement, is written off as expenditure in the SOFA and separately disclosed.
Other fixtures, fittings and office equipment
Equipment used or owned by the PCC is depreciated on a straight line basis over four years. Individual items of equipment with a purchase price of £2,000 or less are written off when the asset is acquired.
Land and buildings
Land and buildings are depreciated on a straight line basis over fifty years on completion of building works. All expenditure in relation to The Pineapple Project is included in this class of fixed assets.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class Depreciation method and rate Pineapple Project building 50 year straight line
Fixed asset investments
Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.
Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.
Stock
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is determined using the first-in, first-out (FIFO) principle.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
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The Church of St Mary, Bourne Street, Pimlico
Notes to the Financial Statements for the Year Ended 31 December 2025
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Fund structure
The Unrestricted Funds (the General Fund and the Designated Fabric Fund) represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application to the general purposes of the PCC. Funds designated for a particular purpose by the PCC are also unrestricted but accounted for as a separate fund.
Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees.
The Restricted Funds comprise amounts received from donors where their application is for a specific purpose.
The accounts include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body nor those that are informal gatherings of Church members.
Pensions and other post retirement obligations
The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Page 17
The Church of St Mary, Bourne Street, Pimlico
Notes to the Financial Statements for the Year Ended 31 December 2025
3 Voluntary income
| Unrestricted funds Restricted Designated £ General £ funds £ Candle donations - 609 - Collections at services - 7,256 - Planned giving subject to gift aid - 88,261 - One-off Gift Aid donations - 31,846 9,652 Gift Aid recoverable - 29,877 2,405 Planned giving not subject to Gift Aid - 8,809 144 Other donations not subject to Gift Aid - 26,788 1,086 Grants from trusts, etc. 16,779 10,450 (50) GASDS top up payments - 2,135 156 16,779 206,031 13,393 4 Activities for generating funds Unrestricted funds General £ Bookstall 25 Church lettings 6,078 Food, drinks and ticket sales for Parish parties 6,300 12,403 |
Unrestricted funds Restricted Designated £ General £ funds £ Candle donations - 609 - Collections at services - 7,256 - Planned giving subject to gift aid - 88,261 - One-off Gift Aid donations - 31,846 9,652 Gift Aid recoverable - 29,877 2,405 Planned giving not subject to Gift Aid - 8,809 144 Other donations not subject to Gift Aid - 26,788 1,086 Grants from trusts, etc. 16,779 10,450 (50) GASDS top up payments - 2,135 156 16,779 206,031 13,393 4 Activities for generating funds Unrestricted funds General £ Bookstall 25 Church lettings 6,078 Food, drinks and ticket sales for Parish parties 6,300 12,403 |
Total 2025 £ 609 7,256 88,261 41,498 32,282 8,953 27,874 27,179 2,291 |
Total 2024 £ 646 7,401 81,346 21,576 25,730 8,716 37,849 (2,841) 2,140 |
|
|---|---|---|---|---|
| 236,203 | 182,563 | |||
| Total funds £ 25 6,078 6,300 12,403 |
Total 2024 £ 5 16,859 5,424 |
|||
| 22,288 |
Page 18
The Church of St Mary, Bourne Street, Pimlico
Notes to the Financial Statements for the Year Ended 31 December 2025
5 Investment income
| Unrestricted funds General £ Interest receivable on bank deposits 696 Other investment income - 696 6 Church activities Unrestricted funds General £ Fees from weddings and funerals 9,210 Sale of columbarium niches 1,410 10,620 7 Other income Listed places of Worship Scheme VAT grant Other fees |
Restricted funds £ 1,425 1,021 2,446 Restricted funds £ 2,280 - 2,280 Unrestricted funds General £ 2,787 4,467 7,254 |
Total 2025 £ 2,121 1,021 3,142 Total 2025 £ 11,490 1,410 12,900 Total 2025 £ 2,787 4,467 7,254 |
Total 2024 £ 3,534 2,182 |
|---|---|---|---|
| 5,716 | |||
| Total 2024 £ 5,918 1,955 |
|||
| 7,873 | |||
| Total 2024 £ (8,097) 5,907 |
|||
| (2,190) |
Page 19
The Church of St Mary, Bourne Street, Pimlico
Notes to the Financial Statements for the Year Ended 31 December 2025
8 Expenditure on charitable activities
| Ministry Diocesan Common Fund Bank charges Office expenses, including parish admistrator Other ministry costs Depreciation, amortisation and other similar costs Missionary and charitable giving donations Home missions and church societies Church running and maintenance Sacristy and candles Music: Salaries, fees and expenses Flowers Examination of the financial statements |
Unrestricted funds General £ 52,500 427 15,378 3,857 - - - 55,471 3,213 67,643 - 3,432 201,921 |
Restricted funds £ - - - - 58,036 1,021 3,168 51,860 8,430 7,500 3,403 - 133,418 |
Total 2025 £ 52,500 427 15,378 3,857 58,036 1,021 3,168 107,331 11,643 75,143 3,403 3,432 335,339 |
Total 2024 £ 50,000 431 14,305 14,841 58,036 2,845 1,741 36,913 26,550 76,497 1,344 3,300 |
|---|---|---|---|---|
| 286,803 |
9 Expenditure on raising funds
| Lunch and drinks party Other fundraising costs |
Unrestricted funds General £ 8,014 944 8,958 |
Total 2025 £ 8,014 944 8,958 |
Total 2024 £ 10,071 1,705 |
|---|---|---|---|
| 11,776 |
Page 20
The Church of St Mary, Bourne Street, Pimlico
Notes to the Financial Statements for the Year Ended 31 December 2025
10 Trustees remuneration and expenses
The only PCC member who received any remuneration from the PCC in 2025 was Mhairi Ellis, who received £1,613 for her duties in singing in St Mary's choir while she was a member of the PCC; she was paid on the same terms as other choir members. In 2024, she had received £4,328 for the whole year.
The only PCC member who received any expenses in 2025, other than reimbursement of costs incurred in purchasing goods or services required by the PCC, was Fr Andrew Walker, who received £1,275; a small, immaterial part of these expenses may have related to his duties as PCC Chairman. In 2024, he received £1,712.
11 Staff costs
The aggregate payroll costs were as follows:
| Staff costs during the year were: Wages and salaries Pension costs |
2025 £ 42,343 493 42,836 |
2024 £ 34,634 319 |
|---|---|---|
| 34,953 |
No employee received emoluments of more than £60,000 during the year
12 Independent examiner's remuneration
| 12 Independent examiner's remuneration | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Examination of the financial statements | 3,432 | 3,300 |
Page 21
The Church of St Mary, Bourne Street, Pimlico
Notes to the Financial Statements for the Year Ended 31 December 2025
13 Taxation
The charity is a registered charity and is therefore exempt from taxation.
14 Tangible fixed assets
| Cost At 1 January 2025 At 31 December 2025 Depreciation At 1 January 2025 Charge for the year At 31 December 2025 Net book value At 31 December 2025 At 31 December 2024 |
Land and buildings £ 2,901,785 2,901,785 58,036 58,036 116,072 2,785,713 2,843,749 |
Total £ 2,901,785 |
|---|---|---|
| 2,901,785 | ||
| 58,036 58,036 |
||
| 116,072 | ||
| 2,785,713 | ||
| 2,843,749 |
The restricted land and buildings relate to the Pineapple Project. There is a Restricted Fund representing the donations received to fund the asset. Since the asset was brought into use, it is being depreciated against the Pineapple Project Restricted Fund (see note 20).
Page 22
The Church of St Mary, Bourne Street, Pimlico
Notes to the Financial Statements for the Year Ended 31 December 2025
15 Fixed asset investments
| Cost or Valuation At 1 January 2025 Revaluation Disposals At 31 December 2025 Net book value At 31 December 2025 At 31 December 2024 16 Stock Wine for parties 17 Debtors Prepayments Accrued income Income tax recoverable Other debtors 18 Cash and cash equivalents Cash at bank |
Listed investments £ 70,537 (4,030) (66,507) - - 70,537 2025 £ 776 2025 £ 43 - 8,758 73,254 82,055 2025 £ 80,095 |
Listed investments £ 70,537 (4,030) (66,507) - - 70,537 2025 £ 776 2025 £ 43 - 8,758 73,254 82,055 2025 £ 80,095 |
Total £ 70,537 (4,030) (66,507) - - 70,537 2024 £ 316 |
|
|---|---|---|---|---|
| - | ||||
| - | ||||
| 70,537 | ||||
| 2025 £ 776 2025 £ 43 - 8,758 73,254 82,055 2025 £ 80,095 |
||||
| 2024 £ - 697 6,647 465,155 |
||||
| 472,499 | ||||
| 2024 £ 143,206 |
Page 23
The Church of St Mary, Bourne Street, Pimlico
Notes to the Financial Statements for the Year Ended 31 December 2025
19 Creditors: amounts falling due within one year
| 19 Creditors: amounts falling due within one year | ||
|---|---|---|
| Other creditors Accruals Deferred income Deferred income at 1 January 2025 Resources deferred in the period Amounts released from previous periods Deferred income at year end |
2025 £ 10,701 7,613 - 18,314 2025 £ 9,335 - (9,335) - |
2024 £ 506,419 7,803 9,335 |
| 523,557 | ||
| 2024 £ - 9,335 - |
||
| 9,335 |
Page 24
The Church of St Mary, Bourne Street, Pimlico
Notes to the Financial Statements for the Year Ended 31 December 2025
| 20 Funds Unrestricted funds General General Fund Designated Organ Fund Total unrestricted funds Restricted funds Flowers Collections from other charities St. Anthony Fund for the Poor Music SS Peter & Paul Pineapple Project Total funds |
Balance at 1 January 2025 £ 54,263 - 54,263 230 1,609 1,322 35,937 69,714 2,843,675 2,952,487 3,006,750 |
Incoming resources £ 237,004 16,779 253,783 3,548 4,722 409 8,325 1,021 94 18,119 271,902 |
Resources expended £ (210,879) - (210,879) (3,403) (4,189) - (7,500) (60,290) (58,036) (133,418) (344,297) |
Other recognised gains/(losses) £ - - - - - - - (4,030) - (4,030) (4,030) |
Balance at 31 December 2025 £ 80,388 16,779 |
|---|---|---|---|---|---|
| 97,167 | |||||
| 375 2,142 1,731 36,762 6,415 2,785,733 |
|||||
| 2,833,158 | |||||
| 2,930,325 |
Page 25
The Church of St Mary, Bourne Street, Pimlico
Notes to the Financial Statements for the Year Ended 31 December 2025
| Unrestricted funds General General Fund Restricted funds Flowers Collections from other charities St. Anthony Fund for the Poor Music SS Peter & Paul Pineapple Project Total funds |
Balance at 1 January 2024 £ 40,181 291 183 1,008 34,362 102,807 2,913,625 3,052,276 3,092,457 |
Incoming resources £ 207,472 1,283 5,913 413 6,615 4,960 (10,406) 8,778 216,250 |
Resources expended £ (193,390) (1,344) (4,487) (99) (5,040) (34,675) (59,544) (105,189) (298,579) |
Other recognised gains/(losses) £ - - - - - (3,378) - (3,378) (3,378) |
Balance at 31 December 2024 £ 54,263 230 1,609 1,322 35,937 69,714 2,843,675 |
|---|---|---|---|---|---|
| 2,952,487 | |||||
| 3,006,750 |
The specific purposes for which the funds are to be applied are as follows:
Flower - Money donated for the purchase of flowers for the church.
Collections for other charities - Money raised through the church specifically to support the work of other charities.
St. Antony Fund for the Poor - To provide assistance for homeless and needy people who come to the church.
Music - To provide for any major repairs to the organ and for its continued use within the liturgy and, more generally, for the support and development of the church's musical tradition.
SS Peter & Paul - Under the terms of the gift of the proceeds of winding up the Society of Saint Peter and Saint Paul Charitable Trust, for publishing works promoting the Christian religion; conserving, restoring, commissioning etc church furnishings, memorials and works of a decorative nature at St Mary's; and supporting musical events at St Mary's.
Pineapple Project - To provide a community hall at 30 Bourne Street.
Organ - a designated fund, to provide for the repair and restoration of the organ in 2026.
Page 26
The Church of St Mary, Bourne Street, Pimlico
Notes to the Financial Statements for the Year Ended 31 December 2025
21 Analysis of net assets between funds
| 21 Analysis of net assets between funds | |||
|---|---|---|---|
| Tangible fixed assets Current assets Current liabilities Total net assets Tangible fixed assets Fixed asset investments Current assets Current liabilities Total net assets |
Unrestricted funds General £ - 104,780 (7,613) 97,167 Unrestricted funds General £ - - 71,401 (17,138) 54,263 |
Restricted funds £ 2,785,713 58,146 (10,701) 2,833,158 Restricted funds £ 2,843,749 70,537 544,620 (506,419) 2,952,487 |
Total funds at 31 December 2025 £ 2,785,713 162,926 (18,314) |
| 2,930,325 | |||
| Total funds at 31 December 2024 £ 2,843,749 70,537 616,021 (523,557) |
|||
| 3,006,750 |
Page 27
The Church of St Mary, Bourne Street, Pimlico
Notes to the Financial Statements for the Year Ended 31 December 2025
22 Related party transactions
St Mary's Trust
St Mary's Trust is a separate charitable trust, which was established on 24 March 1923, with independent Trustees who have discretionary powers to provide for the benefit of St Mary's Church, which is its primary purpose, or the work of the Church of England in the parish of St Mary's or in the neighbourhood. The Trustees appoint their successors. In practice, appointments of new Trustees are made after consultation with the parish. Three of the six current Trustees - Michelle Gurney, David Marchese and Kris Romanski - are also members of the PCC. The Trustees are generally persons who are closely associated with St Mary’s.
In 2025, the PCC received grants from St Mary's Trust amounting to £400,000 under its commitment that it would fund costs incurred by the PCC in connection with the Pineapple Project which could not be met from other income. The PCC repaid £71,534 when its claim for a VAT grant under the Listed Places of Worship scheme was met. These sums had been provided for in the 2024 accounts. In 2024, the PCC had received a grant of £95,764 from St Mary's Trust in connection with the Pineapple Project.
The Trust continued to meet the costs of renting 85 Chester Row from the Grosvenor Estate and related costs, because the house is lived in by the Vicar. In 2025, the Trust incurred £23,308 on the normal running costs of the property, compared to £21,884 in 2024. Gloria Gardner, who works for the Trust in the Presbytery, has recently taken over the laundering of the altar linen for the PCC - the value of that work is estimated as £2,250 in 2025 (£2,175 in 2024).
Also in 2025, St Mary's Trust paid £8,670 towards shared gas costs (2024 - £9,609) - since June 2019, the Trust and PCC gas supplies have come through separate meters, so the shares of costs can be accurately known. The PCC did not meet any other costs proper to the Trust during 2025 (or 2024).
Pine Apple Bourne Street Limited
The completion of the Pineapple Project resulted in the setting up of a new independent charity in which the PCC has a material interest. Although the contract for the construction work was entered into by the PCC, the work was largely carried out on the property of St Mary’s Trust, and significant funding was provided not only by parishioners and St Mary’s Trust, but also by outside donors, on the basis of the local community outreach that is one of the major aims of the Project. However, since a Parochial Church Council is not permitted by law to hold such property in its own name, it was agreed at an early stage that a new charity would be set up to operate the renovated property, under a long (potentially unlimited in length) rent-free lease from St Mary’s Trust. The new charity, called Pine Apple Bourne Street Limited (“PABS”), was incorporated as a company limited by guarantee on 1 May 2023 and registered as a charity with the Charity Commission on 9 January 2024. The lease was entered into on 11 March 2024.
The renovated property, including the Russell Room as well as the Library and Sitting Room on the first floor is known as “St Mary’s Community Centre”.
The charitable aims of PABS (similar to those of St Mary’s Trust, but also reflecting the local community aspects) are “to advance the charitable work of St Mary’s Church, or that of the Church of England in the parish of St Mary’s (the “Parish”) or in the neighbourhood of the Parish, for the benefit of the public, in particular but not exclusively to advance Parish and community education and to provide facilities in the interests of social welfare for recreation and leisure time occupation with the objective of improving the conditions of life for the residents”.
Page 28
The Church of St Mary, Bourne Street, Pimlico
Notes to the Financial Statements for the Year Ended 31 December 2025
The constitution of PABS provides that the charity is to be run by directors who are also the charity trustees and members of the company. The Vicar of St Mary’s is ex officio a trustee. The PCC is entitled to nominate up to three trustees, St Mary’s Trust can nominate one Trustee, and the Vicar can nominate one “community” member. David Richards has been a PCC-nominated member of PABS since the inception of the charity; Mark Rhodes is also a PCC-nominated member of PABS and was also a PCC member until 11 May 2025. David Marchese, the member nominated by St Mary’s Trust since the incorporation of PABS, is a co-opted member of the PCC.
St Mary’s PCC and PABS have a close relationship and share personnel. St Mary’s PCC administrator also works about half a day per week for PABS. Until the end of July 2025 St Mary’s PCC acted as her employer in respect of both roles - PABS now pay her direct for her PABS role. In that period, £2,290 of her stipend related to the PABS work (£3,458 of her 2024 stipend related to that role). Similarly, the church cleaner also cleaned St Mary’s Community Centre and received £3,468 from the PCC in 2025 for this work for PABS (£3,604 in 2024). The PCC also spent £91 on servicing of fire extinguishers in property occupied by PABS (£807 on various items for PABS in 2024). PABS has reimbursed all these amounts to the PCC.
On the other hand, until the end of September 2025, PABS used a security officer to lock and unlock St Mary’s Community Centre, who also did the same for the church. The PCC’s share of the cost was £904 (£693 in 2024). Also, £304 was paid to the PCC for hire of St Mary’s Community Centre (£486 in 2024). These amounts have been reimbursed by the PCC to PABS.
PABS also agreed to pay the stipend of the current Parish Assistant in 2025 in lieu of making a donation to the PCC. The cost amounted to £2,000 for the period from September.
The Helena and Kenneth Levy Trust
The Helena and Kenneth Levy Trust was set up in March 1990, when the late Mrs Helena Levy, a member of the congregation, gave £100,000 for the purpose. Its objects are the improvement, maintenance, repair and renewal of the fabric of the Church, its fittings and organ. Under the Trust Deed, the Incumbent and Churchwardens are the Trustees while they hold those offices - they are also ex officio members of the PCC. The Trust had agreed in 2019 and 2020 at the PCC’s request to meet the cost of repairing cracks in the wall of the servers’ sacristy, behind the apse, and redecorating it, and to meet the balance of the cost of replacing the lighting in church which could not be met by the PCC’s designated fabric fund or other donations to the PCC for that purpose. This grant has not yet been paid because the work has still not been completed because of difficulties caused by the Covid pandemic and so the precise figure is not known. The current estimate is £53,422.
In 2025, the first part of the works shown as necessary in the latest quinquennial inspection of the fabric, on the roof and roof furniture (except the flèche) were completed. The VAT-exclusive cost was £10,450. The Levy Trust has agreed to provide a grant for this cost. The full grant will be paid when the quinquennial works are completed.
Others
In 2020, the Trustees of the Society of Saint Peter and Saint Paul Charitable Trust decided to wind up the Society and donate the proceeds to St Mary’s PCC, to be used for specified purposes (see Note 15). Certain quoted investments formerly held by the Society were held in the names of David Marchese and Kris Romanski jointly on trust for the PCC, and were sold by the PCC in 2025.
Page 29
The Church of St Mary, Bourne Street, Pimlico
Notes to the Financial Statements for the Year Ended 31 December 2025
Members of the PCC and their close relatives donated £55,178 to the PCC in 2025 (£50,234 in 2024) in Gift Aid envelopes or by cheque or BACS transfer. As is customary and in common with other PCCs, details of any further donations by PCC members and their close relatives of loose cash on the collection plate or in candle donation boxes cannot be known. Consequently, it is not possible to disclose the extent of any further donations of this nature, but these are considered by the Trustees to be de minimis.
Page 30