St Paul’s Shadwell with St James Ratcliff Annual Report: January – December 2023
The parish church of St Paul’s Shadwell with St James Ratcliff, referred to from here on as SPS.
REFERENCE AND ADMINISTRATIVE INFORMATION
Members of the Parish Church Council (PCC) are elected at the Annual Parochial Church Meeting (APCM) in accordance with the Church Representation Rules. During the year the following served as members of the PCC:
Rector: Revd Phil Williams.
Additional Licenced Clergy: Revd Mark Bishop, Revd Philippa Cook, Revd Gareth Haddow, Revd Evonne Galloway, Revd Moira Mccutcheon.
Churchwardens: Timi Dorgu, Kirstan McConkey (appointed May 2023).
PCC Elected Members (appointed May 2023): David Cakebread, Charlene Chen, Jo Golding, Elizabeth Kensah, Charlie Lang (Secretary), Jonathan Moules, David Ricketts, Kristina Sandle-Brooks, Nicola Taylor, Samantha Thorn (Safeguarding Officer), Natasha Traynor, David Watherston (Treasurer).
Deanery Synod Representatives: Phillip Rice, Michael Traynor, Abie Hepworth.
SPS is a registered charity number 1134843.
SPS uses the banking services of the HSBC Bank at Pall Mall, London, SW1Y 5EY and Reliance Bank Ltd at Faith House, 23-24 Lovat Lane, London, EC3R 8EB.
The postal address of the church is: St Paul’s Shadwell, The Highway, London E1W 3DH.
Average Sunday in-person attendance in 2023 was 165 which is an increase of 12% from Average Sunday attendance in 2022.
Additionally, Sunday services broadcast on YouTube attracted around 93 views each week in 2023.
The electoral roll on 31 December 2023 has 150 members.
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St Paul’s Shadwell with St James Ratcliff
Year ended 31 December 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Objectives and activities
The objectives of SPS are to promote the whole mission of the Church by Making Disciples, Transforming Communities and Planting Churches.
Responsibilities of the PCC
The PCC of SPS has the responsibility, together with the Rector, to promote in the parish the whole mission of the Church. This includes the pastoral, evangelistic, social and ecumenical aspects. It is also responsible for the maintenance of the SPS building complex. As a Church of England Parish, the PCC and Rector follow the requirements of Church of England Canon Law.
The PCC organises itself to carry out its aims and objectives by having regular meetings and various working groups. The PCC met five times over 2023. Members on the Electoral roll are able to nominate candidates. The PCC and Churchwardens are then elected annually at the APCM. PCC members are introduced to the workings of the PCC at the beginning of the serving year by the Rector who provides a briefing paper and verbal comments.
Church Staff / Central Team
The day to day leadership and management of the church is delegated to the Rector, Revd Phil Williams.
A vibrant team of up to 20 clergy, staff and volunteers met with Phil every Tuesday morning for the central SPS team meeting. In 2023 this central team included: Revd Mark Bishop (Associate Minister), Revd Philippa Cook (Curate), Gareth Haddow (Curate), Katie Taylor (Head of Operations), Hannah Genn ( Head of Family Life) Oli Taylor (Youth Pastor), Michael Hepworth (Youth Outreach Manager ), Matt Venvell (Worship Pastor), Jamie Sandersfield (Comm and Media Assistant ), Suman Sunwar (Web, Systems & Digital Comms Technician), Jerica Castro (Office Manager), Johnson Brock (SPS Active Instructor), Az Anjum (Ordinand), Amber Anjum (Ordinand on maternity leave from February), Abie Hepworth (Ordinand), Michael Traynor (Facilities Manager and then in September 2023 became an Ordinand). Evonne Galloway (Licenced Training Curate, deployed to Poplar in September), Moira Mccutcheon (Licenced Training Curate - SSM, deployed to Christ Church Spitalfields in November).
Partnering with and supporting local churches and other organisations
SPS plays a full and active role within the Tower Hamlets deanery and works alongside different local churches and other organisations partnering on projects, offering financial support and/or in encouraging people to volunteer with them. In 2023 these partnerships were catalysed and shaped by the Tower Hamlets Mission Project of which SPS is a primary delivery church. Key partnerships were built on and established with churches including: Christ Church Spitalfields, Bow Church, Poplar Church, a number of Bethnal Green parishes and the parish of Stepney Green.
In addition to his responsibilities as Rector of SPS, Revd Phil Williams is also Priest in Charge of Poplar Parish (appointed in February 2023), and the Area Dean of Tower Hamlets, a member of the Area Finance Group, Area Council and Diocesian Synod, and the Tower Hamlets Surrogate.
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St Paul’s Shadwell with St James Ratcliff
Year ended 31 December 2023
Public Benefit
The PCC members confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have regard to the Charity Commission’s general guidance on public benefit. SPS benefits the community by the activities described in the section above particularly through Youth and Children’s Work and in supporting other charities through our volunteer programme, prayer and financial (see the section below entitled Evangelism and work in the Community).
Safeguarding
The PCC has adopted the Diocese of London’s safeguarding policy relating to children, young people and vulnerable people. The PCC is committed to the principles of best practice in relation to safeguarding and complies with the duty under section 5 of the Safeguarding and Clergy Discipline Measure 2016 in respect of having due regard to House of Bishops’ guidance on safeguarding children and vulnerable adults.
ACHIEVEMENTS AND PERFORMANCE
Services
In 2023 we primarily meet as one Sunday congregation at 10am, including weekly communion. We continued to see growth in attendance on Sundays. Throughout the year we experimented with the format of a 6pm weekly gathering, offering a simple and reflective evening communion service for the Spring and Summer terms, and trialling a new Bible Study based service for the Autumn term. The 10am gathering was live-streamed each week, along with the 6pm Bible Study in the Autumn term.
We continued with the pattern of children and young people beginning immediately in their own groups before joining the adults toward the end of the service to celebrate Holy Communion together as a church family, this happened each week except for the first Sundays of the month when the young people began in the church for a time of all-age worship and prayer before moving to their own young life groups for the remainder of the service. We have seen our children grow in confidence in joining in with singing, actions and prayer.
Register of occasional services
In 2023 there were 5 weddings and 11 baptisms officiated at SPS.
Prayer
Prayer has always been foundational for all we do at SPS and we have enjoyed another wonderful year in prayer. In January 2023 we again focused on going deeper in prayer for the month, with night prayer on zoom, a book club and a week of 24-7 prayer - night and day prayer shifts, including a set aside creative prayer space.
In Summer 2023, Mark and Carrie Bishop along with their family moved into Faith House in Stepney Green to launch a new worshipping community - the House of Prayer for East London.
In 2023 we also continued with praying through every parish in Tower Hamlets, including in February 2023 when +Sarah of London and +Joanne of Stepney along with other church leaders join us as we prayer-walked from SPS, through Whitechapel to the Royal London Hospital, as well as a prayer walk along Brick Lane with Archbishop Justin as part of his day visiting Tower Hamlets.
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Year ended 31 December 2023
We have continued to make prayer ministry available at each of our Sunday worship gatherings with a trained team ready to pray for people. We look forward to seeing this team growing and to doing some more prayer ministry training in 2024.
We have continued with a lay-led group who are sharing night prayer (Compline) together each Wednesday online.
Docks
We use the language of Docks to refer to the way we gather in smaller groups outside of Sunday services. While new and old organic groups continued to grow through the life of the church, we focussed on four primary SPS Docks that met once a month. These Docks are mid-sized geographic groups that have a monthly ‘altogether’ meet up but various smaller group or life expressions also happen all through the month. Dock leaders were led and gathered every other month by Mark Bishop, with key support from Gareth Haddow and Jonathan and Helen Moules.
Young Life
In January 2023 Hannah Genn was employed as a Head of Family Life for 2023. She worked part time from January to June while she finished her Masters in Children’s Discipleship, and in June went up to full time.
Michael Hepworth continues the role of Youth Outreach Lead for the Tower Hamlets Mission Project, whilst in February 2023 Oli Taylor was employed part time as youth pastor to take responsibility for SPS Youth with the role increasing to full time in July 2023.
The average number of children and youth (age 0-18) attending SPS Young life programs each Sunday during the 10am gathering was 40, which is considerable growth. We particularly saw an increase in numbers of under 3s and youth during 2023. The provision offered during the 10am gathering in 2023 was for children- Red room (0-3), Yellow Room (Nursery- Year 1) and Blue Room (Year 2-Year 5). Year 6 children were invited to join SPS Youth, which offered two groups, Younger Youth (Year 6- Year 9) and Older Youth (Year 10+). Each group includes opportunities for children and young people to pray, worship, learn from the bible and have fun together.
In addition to Sunday activities for SPS Young Life, there was a whole program of community events and projects that happened throughout the year to engage young families and young people.
Our Friday night youth club Roots continued, where attendance steadily grew to around 15 young people each week. At the end of each term, Roots hosted a youth party including inflatables, games, food and fun- seeing 25-35 young people attend each one. SPS Youth also launched weekly football sessions, and two youth Docks (younger and older) that meet weekly where young people gather to study the bible and pray together.
In July, our older children (years 3 and above) went on a trip to Thriftwood for a climbing activity day. During the Summer holidays, following the success of last year, we ran 3 days of Summer Fun for children, a chance to host and get to know local families and
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Year ended 31 December 2023
provide fun games and activities whilst caring for children during the holidays. The children were also invited to go ice skating in Canary Wharf in December.
On 31 October we again held our biggest ever light party here at St Paul’s Shadwell, seeing over 100 children and their families come into the church building to enjoy fun, games and food all for free.
Following that, on 12 November we hosted our biggest ever Community Fireworks Party (see below) which gave us another wonderful opportunity to host community guests and to share the love of Jesus with those who live nearby, including hundreds of local children and young people.
During our Christmas programme, we held our Nativity down on Shadwell Basin with carols, children dressing up and an opportunity to tell the story together. We saw over 100 people attend this event.
Tower Tots is a playgroup that runs twice-a-week providing a supportive and safe place for parents and carers to meet each other while children play. Around 50 parents, carers and children attend on a typical Wednesday morning, and over 35 on a Thursday. 95% of the families that attend are from the local community. Tower Tots ran an outside Easter Egg hunt during Easter, and a Christmas party with Father Christmas in attendance!
Baby Hub, a space to welcome mothers in their final trimester of pregnancy, and parents and carers with young babies, continued throughout 2023. The group has now reached around 145 different families since its beginning in 2021, and an average of 15 parents and their babies attend the group each week. The group continues to seek to partner with local parent small business owners and practitioners, as well as to plant further similar groups in churches around Tower Hamlets (see Tower Hamlets Mission Project). In 2023 the first of these groups began in Bethnal Green.
Community Events
Throughout the year, our usual rhythms of large community events were able to operate. People of all ages were welcomed from the church and community. These included Pancake Parties, Big Spring Weekend, Easter events, Summer Garden Party, Summer Events programme including Holiday club day for young people, Music nights, Comedy nights and film nights, London Marathon Party, Light Party, Community Nativity and ‘Carols on the Basin’. Our Community Fireworks Party became our largest gathering on record with over 1500 in attendance. These events provide great opportunities to show God’s love to the local community and extend an invitation to hear more about Jesus.
Compassion Ministry
SPS has a long-standing relationship, and we have historically hosted the GrowTH Nightshelter on site. Every Thursday night, St. Paul's Shadwell opened its doors to 15 guests (men and women) who needed a place to stay for the night.
The shelter runs from October through to April. As a church we opened our doors every Thursday through to Friday morning for 16 weeks from October through to mid-January.
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Year ended 31 December 2023
Each week we had an amazing team of volunteers give up their free time to make beds, serve coffee, cook food, serve food, eat food (eat more food), chat and listen to the guests, play games, tidy up, sleepover at church, and help serve breakfast.
It’s been an incredible season where we have hosted 77 guests (11 of these females) from 27 nationalities. The Growth team has worked hard to support 18 of these into more permanent accommodation.
Three of these guests moved into Growth's new housing and 1 went into a Christian rehab centre. 11 further guests moved into temporary options e.g another shelter program.
Three shelter guests committed their lives to Christ. 1 was baptised at a local church in Tower Hamlets. One guest moved to Glasgow to be reunited with his children
Throughout 2023 SPS partnered with a variety of other local churches and organisations in order to offer care to our local communities. These included: Love Your Neighbour, Shadwell Responds, Limehouse Aid and First Love, RFSK and St Matthew's and St Dunstans Foodbanks.
Day to Day Site Maintenance
We are blessed to have a church community and core team that care well for our site and help to keep things working well. We continue to utilise the relationships built with the Community Payback Team and Tower Hamlets Green Team to support in the weekly maintenance of our site. These relationships particularly paid dividends towards the end of the year when the Facilities Management role became shared across a number of people.
Planned Maintenance
Our systems and safety measures all passed their 6 monthly and yearly inspections, this includes, fire alarm systems, fire extinguishers, security alarms, lighting rod, sump pump, Pat testing, and boilers. Our electrical safety inspection is due in 2024.
Planned Works
In April 2023 the church boiler failed its safety inspection and had to be replaced; this was a significant practical, logistical, and financial undertaking. As such it took longer than we had initially hoped. The new boiler was installed and commissioned in November and after a period of fine tuning was running up to spec in December. A huge thank you to Dave Ricketts for all his support in the process. New storage heaters were fitted in the SPS Studio, which have made a significant impact on the comfort of the space. We also replaced the lights in the Crypt toilets as despite many attempts to fix the existing lights, they had come to the end of their life. We continue to make small incremental improvements across the site month by month.
Quinquennial Inspection
An initial site inspection of the church building was carried out by our architect Malcolm Fryer on 17th October 2023. A follow up visit is due shortly, followed by a report later in 2024. As well as reporting on the current condition of the fabric of the church building the report will contain recommendations for repairs to be carried out over the next 5 years.
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Year ended 31 December 2023
Access to the Church Building and Crypt
There has been a long-standing requirement to permanently improve access into the church building and crypt. Our church architect has been invited to submit proposals for a scheme to address this, and an initial site meeting was held in January 2024.
APCM FINANCE REVIEW REPORT 2023
Financial review
During the year total income was £593,220 (2022: £543,057), of which £250,503 came from congregation giving (2022: £271,925). Total expenditure was £599,163 (2022: £426,163) giving a deficit in the year of £(5,943) (2022: surplus of £116,894). We are immensely grateful to God and to all those who gave so generously.
In support of other churches in our local community a short term loan was made to Poplar Church of £43,278 to enable them to carry out building workings pending receipt of a grant from the London Diocese. The loan was repaid in full back to SPS in March 2024.
Expenditure in support of the key objectives
All expenditure was in support of the key objectives. It is analysed into different church activities in note 3 of the financial statements. Most of the spending meets more than one of the key objectives.
Policy on reserves
PCC policy is deliberately not to build up reserves. The PCC aims to hold no less than 3 months’ working capital as reserves in case of financial need, and that this should be at least £100,000. Any reserves over this amount that may exist result from accumulated giving at any one time. Total unrestricted reserves at 31 December 2023 amounted to £144,119 (2022: £138,587) which is above the level of the policy. The PCC are mindful that unrestricted reserves should not build up without good reason and therefore will look to ensure that some of these funds are utilised to support various church and outreach projects in the future.
Risk assessment and mitigation
The ongoing risks which the organisation faces are being considered and measures implemented to ensure that appropriate systems, policies and procedures are in place to manage and mitigate the risks. Specifically, as an organisation with a low level of reserves, there is a financial risk which is managed by strong financial systems and controls. With Clergy and employed staff there are health and safety and employment law issues. These are being mitigated through modern management systems and practices. As a matter of general policy, independent professional advice is taken where appropriate.
Investment policy
As mentioned above, the policy of SPS is to minimise reserves and hence it rarely has excess funds to invest. However, from time to time, especially after gift days, temporary surpluses occur in which case the funds are placed on deposit for short periods in order to maximise interest income and minimise risk.
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Year ended 31 December 2023
Grant making policy
The task of deciding how to distribute grants for mission giving was done by the Rector with reference to the Standing Committee and Treasurer. Grants are awarded to organisations and church members working in mission based on an evaluation of each case. All giving follows SPS’ mission policy of the promotion of the Christian gospel in proclamation and social action throughout the world. There are no PCC related trusts.
Sustainability policy
SPS encourages the adoption of sustainable practice in all areas of church life and work, to contribute to the overall reduction in carbon emissions as a means to contributing to the reduction in carbon emissions in dealing with the growing evidence for man-made climate change. Measures taken include; recycling, energy audits, encouraging the use of public transport, cycling and walking.
Plans for future periods
The short and medium-term plan is to continue with the same objectives and activities in support of them.
The PCC’s responsibilities in relation to the financial statements
Charity law requires the PCC to prepare a statement of financial activities and statement of assets and liabilities for each financial year, which gives a true and fair view of the state of affairs of the church and of its financial activities for that year and adequately distinguishes any material special trust or other restricted fund of the church. In preparing those financial statements the PCC is required to:
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select suitable accounting policies and then apply them consistently;
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make judgements and estimates that are reasonable and prudent;
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state whether the policies adopted are in accordance with the appropriate SORP on Accounting by Charities and the Accounting Regulations and with applicable accounting standards, subject to any material departures disclosed and explained in the financial statements;
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prepare the accounts on the going concern basis unless it is inappropriate to presume that the church will continue to operate.
The PCC is responsible for keeping proper accounting records which disclose, with reasonable accuracy at any time, the financial position of the church, and to enable them to ensure that the financial statements comply with applicable Accounting Standards and Statements of Recommended Practice and the regulations made under the Charities Act 2011. They are also responsible for safeguarding the assets of the church and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the PCC of St Paul’s Shadwell with St James Ratcliff and signed on its behalf on 13[th ] May 2023.
by:
Timi Dorgu Kirstan McConkey Churchwarden Churchwarden
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St Paul’s Shadwell with St James Ratcliff Year ended 31 December 2023
adventus accounting solutions Supporting Charitable Organisations
3 May 2024
Independent Examiner’s report to the Member/Trustees of St Paul Shadwell
I report on the accounts for the year ended 31 December 2023 which are set out on the following pages.
Respective responsibilities of the Trustees and Independent Examiner
The church’s trustees are responsible for the preparation of the accounts. The church’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to
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Examine the accounts under section 145 of the 2011 Act;
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Follow the procedures laid down in the General Directions given by the Charity Commissioners section 145(5)(b) of the 2011 Act; and
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State whether particular matters have come to my attention.
Basis of Independent Examiner’s Statement
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
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St Paul’s Shadwell with St James Ratcliff
Year ended 31 December 2023
Independent Examiner’s statement
Since the gross income for the year exceeds the amount provided in section 145(3) of the Act, I confirm that I am qualified to act as an Independent Examiner under the provisions of that section of the Act and that my qualifications are set out as below.
In connection with my examination, no matter has come to my attention:
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(1) which gives me reasonable cause to believe that in any material respect the requirements
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to keep accounting records in accordance with section 130 of the 2011 Act; or
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to prepare accounts which accord with these accounting records have not been
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met; or
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(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Yours sincerely
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Martyn Burt B.Sc.(Hons), ACMA, CGMA adventus accounting solutions Ashby Acres Chapel Lane Ashby-cum-Fenby Grimsby DN37 0QT
e-mail: martyn.burt@btinternet.com or adventusaccounting@btinternet.com Telephone: 07523 6229679
adventusaccounting@btinternet.com 07523 622979 www.adventusaccounting.wixsite.com/website
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Year ended 31 December 2023
Statement of Financial Activities
| Note INCOME FROM: Congregation Giving 2(a) Other Funds Generated 2(b) Rent 2(c) TOTAL INCOME EXPENDITURE ON: Church activities 3(a) Depreciation Raising funds 3(b) TOTAL EXPENDITURE NET INCOME/(EXPENDITURE) Transfers between funds 7 NET MOVEMENT IN FUNDS Balances brought forward at 1 January BALANCES CARRIED FORWARD AT 31 DECEMBER |
Unrestricted Funds £ 250,488 61,206 57,175 368,869 363,634 15,914 10,588 390,136 (21,266) 106,390 85,123 158,196 243,320 |
Restricted Funds £ 15 224,336 - 224,351 209,027 - - 209,027 15,323 (106,390) (91,067) 2,264,962 2,173,895 |
TOTAL FUNDS 2023 £ 250,503 285,542 57,175 |
TOTAL FUNDS 2022 £ 271,925 233,295 37,837 |
|
|---|---|---|---|---|---|
| 593,220 | 543,057 | ||||
| 572,661 15,914 10,588 |
408,688 8,728 8,747 |
||||
| 599,163 | 426,163 | ||||
| (5,943) - |
116,894 - |
||||
| (5,943) 2,423,158 |
116,894 2,306,264 |
||||
| 2,417,215 | 2,423,158 | ||||
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St Paul’s Shadwell with St James Ratcliff
Year ended 31 December 2023
Balance Sheet
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----- Start of picture text -----
2023 2022
Note £ £
FIXED ASSETS
Tangible fixed assets 6 2,234,201 2,154,609
CURRENT ASSETS
Debtors 8 94,357 35,075
Cash at bank and in hand 9 97,645 237,799
192,003 272,875
LIABILITIES: AMOUNTS FALLING DUE WITHIN ON 10 (8,989) (4,326)
NET CURRENT ASSETS 183,014 268,548
NET ASSETS 2,417,215 2,423,158
Represented by:
FUNDS 7
Unrestricted 243,320 158,196
Restricted 2,173,895 2,264,962
Total funds 2,417,215 2,423,158
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Approved by the Parochial Church Council on 13th May 2024 and signed on its behalf by:
Kirstan McConkey Churchwarden
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Year ended 31 December 2023
Cash Flow Statement
| Note Net cash flows from operating activities 11 Cash flows from investing activities: Dividends, interest and rents from investments Purchase of property, plant and equipment Net cash used in investing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents brought forward Cash and cash equivalents carried forward |
Unrestricted funds (4,587) 58,734 (95,505) |
Restricted funds (98,797) - - (98,797) 104,962 6,165 |
Total 2023 (103,383) 58,734 (95,505) |
2022 45,334 38,071 (1,371) |
|
|---|---|---|---|---|---|
| (36,771) | (36,771) | 36,700 | |||
| (41,357) 132,838 |
(140,154) 237,799 |
82,034 155,766 |
|||
| 91,480 | 97,645 | 237,799 | |||
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St Paul’s Shadwell with St James Ratcliff
Notes to the Financial Statements for the year ended 31 December 2023
1. Accounting Policies
Basis of preparation
The financial statements have been prepared in accordance with the Church Accounting Regulations 2006 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The PCC meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
The PCC considers that SPS is a going concern as it has prepared what it considers to be a viable budget which shows that the current level of unrestricted reserves it is appropriate to support the activities planned for 2024 and for the foreseeable future. Therefore, the accounts have been prepared on the basis of SPS being a going concern.
Funds
General funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application on the general purposes of the PCC. Restricted funds are those donated for specific purposes.
Income
Donations and other income are recognised when received and an estimate of income tax recoverable is recognised when the related donations are recognised.
Grants and legacies to the PCC are accounted for as soon as the PCC is notified of its legal entitlement, the amount due is quantifiable and its ultimate receipt by the PCC is probable. Sales of books and magazines from the church bookstall are accounted for gross.
Rental income from the letting of church premises is recognised when the rental is due.
Dividends are accounted for when due and payable. Interest entitlements are accounted for as they accrue. Tax recoverable on such income is recognised in the same accounting year.
Grants and donations are accounted for when paid over, or when the award has been notified to the recipient, whichever is sooner.
Expenditure
The diocesan Common Fund is accounted for when paid. Any Common Fund 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.
Expenditure incurred in the operation of the church is classed as charitable activities.
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St Paul’s Shadwell with St James Ratcliff
Notes to the Financial Statements for the year ended 31 December 2023
Fixed Assets
In the absence of an actual cost, the insurance valuation has been used as the deemed cost for operational assets, with no depreciation charge being made during the year due to the long life of the asset and regular maintenance.
Consecrated and beneficed property of any kind is excluded from the accounts by s.10 of the Charities Act 2011.
Moveable church furnishings held by the Vicar and Churchwardens on special trust for the PCC, and which require a faculty for disposal, are accounted as inalienable property unless consecrated. They are listed in the church's Inventory which can be inspected (at any reasonable time). For inalienable property acquired prior to 2003 there is insufficient cost information available and therefore such assets are not valued in the accounts. No such Items have been acquired since 1 January 2003.
All expenditure incurred in the year on consecrated or beneficed buildings or on the repair of movable church furnishings acquired before 1 January 2003 is written off.
Only items of greater than £1500 are capitalised. Church worship equipment comprises a number of electrical and other items connected with sound, vision and worship. They will be depreciated over five years from date of first use. Computer and office equipment and furnishings are depreciated over four years from date of first use. Catering equipment is written off over five years from date of first use. Church chairs are depreciated over ten years.
Current assets
Cash at bank and in hand includes cash and short term highly liquid investments. Amounts owing to the PCC at 31 December in respect of fees, rents or other income are shown as debtors less provision for amounts that may prove uncollectible.
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St Paul’s Shadwell with St James Ratcliff
Notes to the Financial Statements for the year ended 31 December 2023
2. Income
| 2(a) Congregation Giving Regular donations Income tax recoverable Collections (open plate) at all services Gift days and other one off gifts 2(b) Other Funds Generated: Grants Dividends and interest including any reclaimable tax Fees for weddings and funerals Other income 2(c) Rent Regular rent from Institute Institute, Church and Crypt adhoc lettings TOTAL INCOME |
Unrestricted Funds £ 214,743 27,895 7,350 500 |
Restricted Funds £ - - - 15 15 224,336 - - - 224,336 - - - 224,351 |
TOTAL FUNDS 2023 £ 214,743 27,895 7,350 515 250,503 260,205 1,560 1,041 22,736 285,542 37,384 19,791 57,175 593,220 |
TOTAL FUNDS 2022 £ 233,101 31,321 6,761 743 |
|---|---|---|---|---|
| 250,488 | 271,925 | |||
| 35,869 1,560 1,041 22,736 |
224,440 234 2,389 6,231 |
|||
| 61,206 | 233,295 | |||
| 37,384 19,791 |
27,585 10,253 |
|||
| 57,175 | 37,837 | |||
| 368,869 | 543,057 | |||
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St Paul’s Shadwell with St James Ratcliff
Notes to the Financial Statements for the year ended 31 December 2023
3. Expenditure
| 3(a) Church Activities Common Fund Giving to other organisations Church planting and training for wider church Clergy costs Premises costs Central team costs Upkeep of services Worship and prayer ministry Children, youth, and families Ministry and congregational connecting Tower Hamlets mission project Depreciation Total expenditure on charitable activities 3(b) Expenditure on raising funds Event costs Maintenance of rental properties Collecting agent fees Governance costs including independent examiner's fee and meeting costs |
Unrestricted Funds £ 95,200 788 - 4,134 119,385 48,067 18,706 3,590 45,158 27,168 - 1,437 |
Restricted Funds £ - - - 50,701 - 10,090 - - 14,861 12,809 120,565 - 209,027 - 209,027 - - - - |
TOTAL FUNDS 2023 £ 95,200 788 - 54,835 119,385 58,158 18,706 3,590 60,019 39,978 120,565 1,437 572,661 15,914 588,575 - 9,728 860 10,588 |
TOTAL FUNDS 2022 £ 90,204 10,696 - 50,728 99,538 62,409 14,185 21,086 46,232 20,984 - 1,355 |
|---|---|---|---|---|
| 363,634 | 417,416 | |||
| 15,914 | ||||
| 379,548 | 417,416 | |||
| - 9,728 860 |
- 7,526 1,221 |
|||
| 10,588 | 8,747 | |||
4. Staff costs
During the year the PCC employed on average the full time equivalent of 4.5 people (2022:3.2) and on the basis of actual number of people employed regardless of FTE the average number of people employed in the year was 9 (2022: 5). Michael Hepworth, Youth Outreach Pastor, receives accommodation as part of his remuneration package, equivalent to the value of £1200 per month. No employee earned in excess of £60,000 in the year (2021: none). The aggregate staff costs during the year, included in the above figures are as follows:
| Wages and salaries (incl PAYE) Employer's NI contributions Pension contributions |
2023 £ 141,575 10,567 3,292 |
2022 £ 74,093 5,330 1,917 |
|
|---|---|---|---|
| 155,434 | 81,340 | ||
16
St Paul’s Shadwell with St James Ratcliff
Notes to the Financial Statements for the year ended 31 December 2023
5. Related party transactions
No trustees received any remuneration or benefits from the PCC.
Total donations to SPS by PCC members in the year ended 31 December 2023 were £25,275 (2022: £25,338) excluding gift aid.
David Ricketts is the father of Revd Philippa Cook, and Natasha Traynor is wife to Michael Traynor who is a training Ordinand.
Charles Lang, PCC Secretary, is also a Trustee of the Porters Trust. The Porters Trust owns 2 Doughty Court, a property which is used by the PCC rent-free. The PCC are responsible for paying the property utilities but are not responsible for the maintenance of the property.
During the year Rebecca Watherston, wife of the church treasurer, paid £1,284 to the church for hire of counselling rooms at the Institute building (2022: £1,332). These amounts are charged at the church's usual arms-length room hire rates.
There were no other discloseable transactions in respect of PCC members, persons closely connected with them or other related parties.
6. Fixed Assets
| Worship equipment £ Actual/Revalued cost At 1 January 2023 16,638 Additions during the year At 31 December 2023 16,638 Depreciation At 1 January 2023 7,282 Charge for the year 3,328 At 31 December 2023 10,610 Net Book Value At 1 January 2023 9,356 At 31 December 2023 6,028 |
Outdoor Gym £ 16,829 2,900 19,729 9,466 4,787 14,253 7,363 5,476 |
Freehold land and buildings £ 2,299,380 - 2,299,380 164,380 - 164,380 2,135,000 2,135,000 |
Computer & Communications equipment £ 29,870 3,518 33,388 28,636 1,399 30,035 1,233 3,353 |
Fixtures, fittings, and vehicles £ 5,873 89,087 94,960 4,215 6,400 10,615 1,658 84,345 |
Total £ 2,368,589 95,505 |
|---|---|---|---|---|---|
| 2,464,094 | |||||
| 213,979 15,914 |
|||||
| 229,893 | |||||
| 2,154,609 | |||||
| 2,234,201 |
17
St Paul’s Shadwell with St James Ratcliff
Notes to the Financial Statements for the year ended 31 December 2023
Freehold land and buildings comprise the Institute building on 302 The Highway. For accounting purposes, the historical cost of this property is deemed to be its insurance valuation. The latest valuation was carried out in October 2010 by Ecclesiastical Insurance.
7. Funds
a. Analysis of net assets by fund
| Fixed Assets for church use Current Assets Total Liabilities Fund Balance |
Unrestricted Funds £ 99,201 148,158 (4,039) 243,320 |
Restricted Funds £ 2,135,000 43,845 (4,950) 2,173,895 |
Total 2023 £ 2,234,201 192,003 (8,989) |
|---|---|---|---|
| 2,417,215 |
b. Analysis of movement in funds
| Restricted funds Institute Building Fund Boiler fund Youth Mission Fund London Marathon Porters Trust Curate Housing Spark Funding Strategic Development Fund Unrestricted funds General funds Designated funds Fixed asset : Boiler Fixed asset : Van Total funds |
Opening Balance £ 2,135,000 - - 1,331 - - 500 128,130 2,264,962 158,196 - - 158,196 2,423,158 |
Income £ - 28,553 15 23,481 15,000 50,701 - 106,600 224,351 368,869 - - 368,869 593,220 |
Expenditure £ - - - (22,900) (14,556) (50,701) (305) (120,565) (209,027) (384,197) (1,904) (4,036) (390,136) (599,163) |
Transfers between funds £ - (28,553) - - - - - (77,837) (106,390) 17,303 28,553 60,534 106,390 - |
Closing Balance £ 2,135,000 - 15 1,913 444 0 195 36,329 |
|---|---|---|---|---|---|
| 2,173,895 | |||||
| 160,172 26,650 56,498 |
|||||
| 243,320 | |||||
| 2,417,215 |
18
St Paul’s Shadwell with St James Ratcliff
Notes to the Financial Statements for the year ended 31 December 2023
Details of funds and transfers
The Institute Building Fund is a restricted fund because the PCC have no power to dispose of this asset; the power rests with the Diocese of London.
Boiler fund : a grant awarded by the Diocese of London for the replacement of the boiler. Youth Mission Fund : a funding bid through which we invested in missional youth work. Bridging the gap between church youth work and community youth work thinking in terms of inside-out working and outside-in working.
London Marathon Fund : We received funding from the London Marathon Charitable Trust for the SPS Outdoor Gym Project.
Porters Trust : funding received towards the role of Children’s Pastor
Curate Housing : funding received for paying the rent on two flats for curates.
Spark funding : funding received to run games nights for Youth.
Strategic Development Fund : to fund a Tower Hamlets-wide project to grow new disciples through a combination of intercultural and youth-focused work, church planting and
revitalisation. There was a transfer of £14,400 to account for the accommodation provided to the Youth Outreach Manager as part of his remuneration package, and £2,903 as Full Cost Recovery.
Fixed Asset: Boiler represents the remainder of the grant awarded for the replacement of the boiler, for depreciation purposes.
Fixed Asset: Van represents the remainder of the grant awarded for the Youth Outreach Van as part of the Strategic Development Fund, for depreciation purposes.
19
St Paul’s Shadwell with St James Ratcliff
Notes to the Financial Statements for the year ended 31 December 2023
c. Analysis of movement in funds for prior year comparative
| Restricted funds Institute Building Fund Youth Mission Fund Shadwell Gardens Community Garden Tower Tots resources Fund London Marathon Porters Trust Curate Housing Spark Funding Strategic Development Fund Unrestricted funds General funds Total funds |
Opening Balance £ 2,135,000 2,647 643 158 7,128 1,050 - - - |
Income £ - - - - 7,600 15,000 45,718 500 145,050 213,868 329,189 329,189 543,057 |
Expenditure £ - (2,647) (643) (158) (13,396) (16,050) (45,718) - (13,320) (91,932) (334,231) (334,231) (426,163) |
Transfers between funds £ - - - - - - - (3,600) (3,600) 3,600 3,600 - |
Closing Balance £ 2,135,000 - - - 1,331 - - 500 128,130 |
|---|---|---|---|---|---|
| 2,146,625 | 2,264,962 | ||||
| 159,639 | 158,196 | ||||
| 159,639 | 158,196 | ||||
| 2,306,264 | 2,423,158 |
8. Debtors
| Income tax recoverable Prepayments and accrued income Loan to Poplar Church SDF grant due Other grants due Other debtors |
2023 £ 1,369 4,786 43,278 6,473 33,920 4,531 94,357 |
2022 £ 1,704 2,338 25,000 6,032 |
|---|---|---|
| 35,075 |
20
St Paul’s Shadwell with St James Ratcliff
Notes to the Financial Statements for the year ended 31 December 2023
9. Cash at bank and in hand
| Current accounts Deposit Accounts Cash in hand |
2023 £ 21,223 76,423 - 97,645 |
2022 £ 142,936 94,863 - |
|---|---|---|
| 237,799 |
10. Liabilities falling due within one year
| Accruals Creditors for goods and services PAYE and NI due to HMRC Pensions payable |
2023 £ 1,105 4,921 2,234 729 8,989 |
2022 £ 1,000 2,582 499 245 |
|---|---|---|
| 4,326 |
11. Reconciliation of net income to net cash flow from operating activities
| Unrestricted Funds Restricted Funds 85,123 (91,067) Adjustments for: Depreciation charges 15,914 Dividends, interest, and rent from investmen (58,734) (Increase)/decrease in debtors (46,602) (12,680) Increase/(decrease) in creditors (287) 4,950 Net cash flow from operating activities (4,587) (98,797) Net surplus for reporting period as per statement of financial activities |
TOTAL FUNDS 2023 (5,943) 15,914 (58,734) (59,282) 4,662 (103,383) |
2022 116,894 8,727 (38,071) (31,572) (10,645) 45,333 |
|---|---|---|
21