RECISTERED CHARITY NL'MBER= 1135101 Report of tbe TrDsttes gDd Unaudited Flnanti•l StaletDtnts for ¢he Year Ellded 31 December 2015 for Chelsea Old Church Parochial Church CouD¢ll Garsidc and Co Limiicd Suite 6) l. Lin¢J Hall 16?_168 Re¥eni Str¢¢t London WIB5TG CHELSEA OLD CHURCH PAROCHL4L CHURCH COUNCIL Colltents oftfAe Fln#nelaJ St*tetlloMts FOR THE YEAR ENDTr.D JI DECE￿IBER 2025 P*gt Reference 8nd Adrninistrative Delails Report of the Trustees Indep¢nd¢tht Ex•mlner'$ Report Stitemenl of Flnauclgj Actlvliles Balan¢¢ Sheet Cash Flow St4temellt 10 Notes to the C4sh Flow Statemen( Notes to ihe Fln*nriAI Stxttrnents 12 ￿ 20 DetMil¢d Statement of Fln4ncl*l Attlvltlts 21 to 22 CHELSEA OLD CHL'RCH PAROCHIAL CHURCH COUNCIL Reference And Adminlslratlve Detai15 FOR THE YEAR ENDED31 DECEMBER 2025 TRUSTEES R wYn￿rbee-R0b¢Y IresigTh¢d 19.5.25) D Swanson lan dc Lc5¢hcry OBI Thc Righi Hon Th¢ Earl Cadugan P Pocock Li. Gen A FigguT¢S CB. CBE B Nonhcoi¢ Iresi8ncd 29.9.251 L Pclham-Lane L Ttsmlingon N LLveson-Gower Dr S Duncan TGCC E Priday MVO E Al¢o¢k K Towiiend E Town¢nd J Brawn M MrBTay¢r Rev M Hayliss MA Msl L Irclond DL D ATdl¥y lappvin*d 29.9.25} PRIIYCIPAL ADDRESS 64 Cheync Walk L¢)ndon SW3 5LT Rb:C:i%'rTr:RED CHARITY Nuf*lBER INDEPENDENT EXAMINER Gar5ide and Co. Lilliilcd Suilc 611. Liiicn Hall 162-168 Rcgcni Sircei London WIB5TG Page I CHELSEA OLD CIILTRCH PAROCHIAL CHURCH COUNCIL Report of the Trustee5 FOR THE YEAR EWDED31 DECEMBER2025 The trustees present th¢ii rewn with thc financial StsiCTn¢nls of ih¢ chaTily for thc yCaT cnded 31 DcccmbcT 2095. Thc trustees have adopied th¢ Pro￿151￿￿5 of Accountin& and R¢pollin8 by ChaFJlics'. Sialenient of Rccotnmcnd¢d Practice dppIicdbl¢ to charities picparing their accounts accordance ii'ith Ihe FinaJ)Cldl Reponin8 Siajidard applicable in Ilie UK and Republic of Irelamd (FRS 1021 leffetrive l January 2019). OBJECTIVES AliD ACTIVITIES Objeitiv¢s Tt]c primary obj￿( of the PCC is io promo1¢ th¢ GospLI of our Loid Jesu5 Ckn'st according 10 thc dociTincs and praciiccs of the Church of England. Chelka Old Church cooperated exiensively u'ith the ineuinbcnt, RcvcTcnd Max Bayliss MA Mst., and the PCC during th¢ year to promot¢ within the parish the whol¢ mission of Ihc Church. pa5toial. cvangclisriL. social and ecumenical. The PCC Ès also respoDsible for th¢ maintenance of the ChuTch building. Publit bertefit The PaTochial Church Council has considercd thc Charity Commissioncr5' guidance public bencfit and, In panicular, the specific guidanc¢ on Charilies for Ihc AdvaThcetnenl of Religion and is salisficd ihai rlic aciivilics of Chcl%La Old ChuTch fall within such 8ULdanc¢. Pa8¢ 2 CHELSEA OLD CHLRCH PAROCHIAL CHURCH COUNCIL Report of the Trustees FOR THE YEAR ENDED 31 DECEMBER 2015 ACHIEVEMENTS AND PERFORMANCE Revlew of the year AnoEhtr hug¢ly busy and successful year.. a grcal many wcll-attcndcd spccial and rcgular servic¢5, a 8r¢at dcal of shoring up of our beloved church buildings and bumper bookings ill Ihe P¢iyl Hall. A big featll￿ of church offJ¢ers' work this year hag been ihe push io ger our mandatory quinquennial WOTk doiie. We are more than halfway ihrough. Spe¢i21isi work. iryrludin8 repoiTrling the VLStry wall with lime morknv, was coinplclcd early in 2025 by cu]tservaiioti bujldeis DBR under thc watch￿] eyes of Tim Gates. Ihc Clerk of Works. Sincc then, builders hav¢ replaced thc Icaking flai roof above the Outer Ilesiry, ut]block¢d drdins, repaiTcd and rcpainlcd th¢ woodwork ar()und doors and windows internally and exT¢rnally, and flatteDed the sione paih vuisidc ihe cmcrgeney cxit OD thL Soilth %idL of the Lhurch. Waier Ingress is a perennial problcm. BuildcTS have fixed the damp affeciing thc w'all behind the dlldl and above the Stanley Moourncni in lh¢ Lawrence Ch3pcI. In faet, if you look up ￿,hen yuu walk inio ¢hc rhdPLI yvu will oiice the plasier above both arches 15 badly blO￿Tr - an old leak from a now-fixed gulley. All four walls will 50011 be redecorated. Elsewhere in the church. we aTe waiting for ihe restored stsined-8lass panels to be rcinsthllcd. Th¢ Dioccsc has given us pem)ission io put the window5 back without a faeuliy. Tha￿kS io Tim Gates for dealing wilh this. Our next majoT projtci will bc rcncwiDg ihc leaking Towcr roof. Rain has penetrated as f4. r as Ilic Ringin¥ RuL)In. IliiLC floor5 below. Several p2ich¢s of the concie* soffit llndtr ihe flai roof arc Lomxled. Damagc is dl¥o vcry visiblc in the Bclfy and in ihe Clock Room below. We will need s¢aifolding for this work an4J build¢rs will repoint Ihc souih tacc of the Tower while th¢ roofeTS' straffolding is up. As 12m Sure you know, the bulk of the cosi Jn any job Ilial Tequircs scaffolding is th¢ scalyold itself. We hope 10 st8n this work Jn the summer. We hav¢ a much-n¢cd¢d rte￿. carpct in the Ringing Room. The old carpci was wom thin. buckled and 5plittii)g- a worrying trip hazard that is fixcd now and mllch apprLxialcd by our regular ringers ￿ld visiiii)¥ baiids. OUT Stalwart Tow¢T &ptain, Debbie Ardley, and our ever-patient and Jmprtssive bell conductor. F.dmund Wrattcn, havc a8rctd to start training young ring¢TS. If your children or grandchlldrcn arc 12 OT older and reasonably lall. do enLouragc them to co]ne for a taster s¢s5ion. Thc aim is io gei a Chc15ea Old Church band iogeihcr so wc cai) ring on Sundays and at Easter and Ckn5tma5 elc. Bell ntLgiE)8 is a fabulous antidote LO screen addiction and 8 ereat tonic for the niind. Church aside, bookings in our Sp￿ced-uP Petyt Hall, were up 20 perceni in 2025 d¢5Plt¢ ihe Hall being unavailablc tor a week for redecoration and dunng the Chelsea Book Fesijval. Thc round-up for 2025 Is as follo￿8. scvcn carol scrviccs. Ihrce more tlian in 2024, 33 fun¢ial and mmonal rcccpiions - our bi￿¢51 sourcc of incom¢, ¢ighi wcddiiig rcccpiioiis and 2 fair few drinks parties, birthday partie5 and childrcn's panies. In ih¢ ¢hurch itsclf wchad 21 iveddings. thr¢L wtyddiiig blessings, 56 baptisms, a large confirmation setvi¢e, seven ¢arol setvi¢¢s, 13 ￿nC￿dIS and 17 memorials. W¢ should pay a special tribute to Sophie Wi150n foi 5TeeTing all these Hall b¢)okings and church scTh'iccy through so smooihly, with the extra complicaiioD o( building works. in¢luding repainting Ihe Hall, replacing the kilcheneiie, aiid refurbishing her owii Parish o￿lc¢. It's a tricky job thai She handles very skilfully and with great diplotnacy. 11.'e are weeks aivay from renovating all thrcc Pctyl Hall loos and these will be worked on onc by one so Ihat there is no di%TUPtion to booking5 thanks to Sophic's carcful ¢wrdiiiaiion with the builders. Bookings peTmitling, wc will soon be irt$tslling a new sound sysiom in the Hall with an inbuili decibel limilL*r. Wc are also investigating what can be done to insulate thc arch in the Hall that gives on¢0 th¢ Vicardgc kiichcn. Thc arch partilivn is m8d¢ of board with a ¢aviry bctwccn. which means ihat noise trave15 through almost unimpedrd - noi id¢al if yoll are trying to writ¢ a 5¢rmon. havc tn¢¢tings with parishioncrs or jllst need a quici evcJiiThg aftcr a hcavy day. Noise limits will be a help too in the Curaie's Flai al)ove ihe Pew Ilall. ￿th1¢h has been thoroughly renovated ihi5 year. Kiichen cupboards 2nd maehities were falling apart, Ihe place w&% infesied widi rnoths aiid mi¢c, aiid tlie bdilirut)m in need of remedial plunibing Work. Th¢ 11a1 15 now ]￿kIng go(Kl and working well. all happy prtPaTalion fur IhL arrival in Jurte of our new curatr, Edward Mcmillan. P*ge 3 CHELSEA OLD CHURCII PAROCHL4L CHURCH COL.NCIL Report of the Trustee5 FOR THE YEAR ENDED31 DECEMBER 2025 On the statTing fr(>nl. we are ben¢fJtling from ihc hard WO￿ and expertise of Jonly Brawn. who joinL'd ihc churili iLam this yoar a5 Sexton. Jonty's ¢xpen¢n¢td hand has supponcd the prdLtiial of all our ministcrs whcther li bi Max. oiir urate, Je[￿Y Galla8heT. ollr lay PTVdchcrs, Tim Ge¢ John Wdtherston. visitor5 including Milx Wallcr, our hvme8rowTr trainee priest, who tta%'¢ a homilei In November- or oih¢T visiting cl¢tscs officiating at s¢tvices throughout the year. Our magt)ificent setvices of ihc church calcndar- AdN"cni and ChD5Etnas. Holy Week apd Easier- showcased our f&niaslic choirs and QTgan music. and drew ever larger iongre¥aiioDS. A quick rundown on a fcw olth¢ ¥lotious musi¥al cvcnls this year.orgJnised by oui gifted Dir¢clOT of Nlusic. Andrcw Macmillan.. all inaugural St Jo]Jn Passion, ? littsrgical rrfreaiion akin io how it w#$ performed in Bach's day* Showcasing the wonderful Yoices of our PTofessional ¢hoir, augmtnred by a Baioque orchcstTa. a splen(li(I VE celebraiion service, featuring ￿'allOn,5 cor0]￿tIOn Te DeunK accompanied by organ and bias5 quartet a Thoma5 MOTC Day in cel¢bTatton of Ihe orditlaiioll of our turdie Ihe Rek'erend Professor Jcnny Gallaghei MBE. f¢aiuT]ng a new 5¢tting of & lexi by More."Give tn¢ thy grace. SOL￿ Lord" compo%d b) Andrcw himself, On an almu5L fin21 note. any ideas for fuThdTai51ng arc alway5 very welc4>tnc. We hosi Penny Pocoek's lovely planl salc every year and Penny kindly donaies all procLcds io th¢ chutth. This year we htsstcd a book 5alL 111 tIIL P¢iyl Hdll, whilli fiindcd a votiv¢ candle sthnd now itt ihe More Chyl. Do please rontdei OtTiceCalch¢lscaoldchurnh.tsrg.uk if you hav¢ siiggestions for fundtsi8ing or outreaLh evellts. Last bui by no sirtlch of the imagjnation leasL hals off. of course. 10 our dili8enL brilliani ai)d liaidwoi"kiiibP vicar, The Reverend Max Bayliss, for hi5 eier-sready, ¢N'eT-ready hand oi) Ihe ljller. He navioaie5 choppy waiers quilc un%een 85 well as being a very public good in all our lives. We are already several months into 2026 and all seem5 Set fair for us lo worship God by ihe Thames on Chclsca Emballkm¢nl in inimitsblc Old Church 51yle far into the futu￿. FIYAIYCIAL REVIEW Flnanclal position The Financial Statements ¢over all the activities of the ¢harity and have been prepared on an accwal ba_%is. The charity's incoming resourr¢s tolalled £6¥3.589 12024.. £571.515I dtrivcd mainly froni volurtiary ii)conic and haritable activities. Regular giving made by siandkng ordcr has inCTcased ¢oniacilcss donattons continuc to Lyrvw. The truslees are grateful to all who have played thcir part in making IL happcn. A gr¢ai success of 2025 has b¢ett the incr¢ased nwnb¢i of bookings forboih iht Church and Pctyi Hall. This is continuing into ?026. ExpetLdLbAre on the charity-s activities toialled £649,71412024.. £509.9?21 JTtcludino Govemance cost% of £9,080 1?0?4.. £9,048) As in previous Yea￿ ihi5 15 laigely occounied for by non-recutring e.¥pertdiiure on Iht Chuich 3nd Peiyi Ilall, higher eneTgy costs and incrcascd sthff Salaries. We have also held a laroc number of hospitaliiy and music ci'cnls duriiig thc ycar. Our Ev¢nsong Scrviccs coniirtue io grow In the nllmbei of aiiendees which does result in incTLosed music aiid associated costs bui the TTYStees feel they are worthwhil¢ and an investtneni foi thc fuluTe. Our profjt for the year ended 31 Decetnber 2025 ￿.￿$ £31,447 a decrease on the previous year whcn thc figurc wa% £63,652. We have eKpendcd considerable resouiLes on impr()vcmenis 10 the ChuTch, Pelyl Hall and Ihc Curate's flal ￿hluh have affected our profit for the y¢at. Wt still havc sornc outstsnding Works to ¢ompleic bui Ihc inajoTity dTe bLhind ug. At the end of 2025 the Church had cash and inve5tmeni balantes 01 £447.889 a decrease from 20241£4X5,26501 Page 4 CHELSE.4 OLD CHURCH PAROCHIAL CHLIRCH COLNCtL Report of tht Trustees FOR THE YEAR EPIDED 31 DECEMBER 2025 FINANCIAL REN'IEW Reserves Policies 1115 PCC'S current policy 15 to maitithin unrestyictd resen'es to a level sufficieni To meet three moiiths of lypieal operating cosis. The iotal amount held in T￿rVeS for this PUTPOSC is £160.1>00 12024 £127,000). In addiiion. a Mainlcnancc R¢scTV¢ 15 mainiain¢d io provid¢ for larger capiial cxpelldilure5 on the Church and Pctyt Hall. The TTusiees consid¢r this LU bc ptudLni approaih to provide sUtTicienl funds io r¢sTM)nd io Unexpec1￿ ¢KpLnses and to ensure ihal thc support aiid guvemance Costs. are ¢()vered. The PCC Tegularly reviews the amouni ofreserves thai are requiT¢d to ensurc that ihcy aTC adcqualc to fulfil OUT continuin8 obligaiions. FUTURE PLANS TheTe are plarts io alier the cbariry's aciiviiie5 next year. STRUCTURE, GOVERNANCE AYD MANAGEMETriT Governing document Thc Parochial Church Council is a corporalc Ix>dy cstabli5hed by thc Church of England. The PCC operale8 under thc Pdrochial Church Powers Measure. The Tneihod of app¢iinlThent of PCC members is sci oui In Ihc Church RcprLscniarion Rules. The PCC which meets six limes a year Js chaired by the Rei'uend Max 13asliss MA Mst. I"he l?Q'Q' niernbers drc responsible for making decisions on all matters of generdl concern and importance to the parish including deciding on how the funds of ihe PCC are 10 be spent. The PCC also adopts policies io comply wiih legislaiion in Ihe areas of healih and safety, disabilsty discriinination and child proieciioii. The PCC have ¢oi)IpilLd willi Ilie duly undLr Scciioii 5 01. Ilic Safeguarding and Clergy Discipline Meosure 2016 iii relaiiot] to having due regard ¢0 ihc Hous¢ of13isliops ¥uidanLC on Safeguarding children and vulnerable adults. Thc PCC has cstablishcd a Financ¢ Committcc whlch m¢cts rcgulaTly to deal with day lo day opcrating tnattcrs Including the approval of major items of Cxpclldln￿¢. The Membcrs of the Comminee include thc incumbcni Iwhcll jll POSI), thc Church Wardens, the Treasurer and Ihe Stewardship Secretary. The PCC works io ensure compliance with its legal dulKcs to.. act in thc intcrests of ihc eharitv". protect and saftguard thc asscts ofihe charity: act with reasonable catL and Skill," and ensure the charity is attountsble. Page S CHELSEA OLD CHURCH PAROCHIAL CHURCH COUNCIL R¢port of the Trustees FOR THE YCAR ENDED 31 DECEMBER 2025 OTHER REFERENCE AN'D ADfvIINISTRA TIVE DETAILS B4nker5 I.ISBC Bank 8 Canada Squaie Canary Wharf Londo E14 5HQ NatWe51 B2nk 55 Ken51tl8lon Hi8h Streei London W8 SEQ Independtnt examitker Gaieih Owen Hughes Bsc ACA Insiitute of Chartered Acmunlants in England and Wales Garside and Co. Limited Suit¢ 631, Linen Hall 162-168 Regent Street Londort WIB5TG Approved by order of the board of Irustees on .......................... atjd signed on 115 behaifby.. E Townrnd- Trustee Pa8e 6 Independent ExgmiDer's Report to the Tru51ees of Chelsea Old Churrb Parochial Church Council Independent examiner's report to the trustees of Chelsea Old Church Parochial Church Cuuncil I ￿pOn io th¢ Chariiy knus1￿5 on my ¢xaminaiion of lh¢ accollDLS of Cli¢ls¢a Old Chuwli Paro¢hial ChllrLh Coui)cil Iihc Trust) for the year und￿13] DLYcmb¢r 2025. Re$ponslbUllle8 *nd b*$l# of report As Ihe charjiy In￿¢te￿ ot. the Trusi you ar¢ responsible for the preparnioD of thc accounts in o¢conlan¢e with the requirements olihe Charities Aci 2011 {'Ihe ACV). I report in respcct of my cxaminaiion of ihc TnJ51'5 accounts carricd our under Scclton 145 ofihc Aci 8nd in carryiiig oui y exam211ation I have followed all 3ppli¢abl¢ Dir¢¢iions given by the Charity Commission under Section 14515llbl vl. the Act. Independeni exlmlntr's $t#lerneDt Since your Lharily'5 gross incomc cxcccdcd £250.OIX) your examin¢r musl b¢ 4 mcrnbcT Ot. a lisic¢J bLNJy. l Lan Lonlinn Ihai l am qualifjed 10 undertake rhe examinaiion because l am a member of ihe IDsriwi¢ of Chthrt¢r¢d A¢counlunls in England and Wales, which is one ofihe listed bodies. I hav¢ complcied my ¢xaminaiion. I confimi that no mat¢ri41 maitLY$ have come to my gilenlion in ¢onn¢ciion wilh Ihc examinAtion giving me caus¢ to believe ihai in Any ma￿rial resp¥XI'. accounting r￿ordS w¢rc not kcpt in re$p¢¢l of th¢ TnJ5t a5 requir¢d by Seciion 130 of thc Act.. or the 8CCOU1115 do not accord with those rccords. or the 8c¢vun15 do noi comply with the applicable requirement$ ¢onremin8 ihe forni and ¥uiii¢i)I vf aLLuuiils 4ei uui in Ihe Charities {A¢¢ounts and Reponsl Rc8ulaiions 2008 oihcr Ihan any requJren)¢ni Ihai ihe accounis give a and fair view which is not a matter consid¢r¢d H$ part of an Lthdep¢nd¢nl examinaiioii. I have ¢onccrns and hav¢ ¢om¢ acros% no other maiiets irt ¢onneclion wilh the ¢x)minaiion lo whiLh oiteniion shuuld . drawn in this rcport in ordcr 10 ¢DAbl¢ a propcr undersiandiii¥ ofthc llcLouiI￿ 10 b¢ i¥aihvJ. Ciarcih Owen Hts¥he5 LISC ACA Th¥ Instiliitc of Chartcrcd A¢LouniJnts in F.n8land and Wal¢s Gar5ide atsd Co. Limit¢d Suitc 631. Linen Hdll 102-16¥ R¢g¢nl Sireei London WIB 5Tf) DdiE'. Pa8e 7 CIIELSEA OLD CHURCH PAROCHIAL CHURCH COLFf*CIL Statement tsf Financial Aetivities FOK TIIE YE.4R &￿DED 31 DECEMBER 2025 31.12 •5 Total funds Unrcstrictcd runds R¢stri¢icd fund fuiids Notes INCOME AND ENDOWMENTS FROM VolunldTy IrtLomc 283.080 28.1,080 ?58.483 Charltablc A¢ilvldes Church aciiviiies 387.102 387,102 302,370 Investment incornc 10.662 Total 6R3 5R9 683.589 571.$15 EXPENDITURE ON Ch*rliabl¢ *cllvltleJ Cliurcli activi¢ics 647.714 509 222 Net 8ainslllossesl on inv¢simen NE'f iNCOMEI(EXPENDITURE) 33,447 (2.0(X>l 31.447 63.652 RECONCILIATIOY OF FUNDS Totsl funds. bruu¥hi forwaid 536.813 733,797 .271).610 1.2116.9511 TOTAL FUNDS CARRIED FORWARD 731797 1.31>2,057 The noies forn) pan of thcsc financial siai¢mcn(s Page 8 ci4F.i.%rA 01.D C.HIIRC14 PAROCIIIAL CHURCIq COLNCIL B#l¢?nce Sheot 31 DKCEMLIER 2025 31.1? 25 Tolal tunds UnTes(ricied funds Reslricled fund Toial funds Noie5 FIXED ASSETS -I'angibl¢ assets Investmcntg 120.524 58.305 739,797 860,321 58.305 795,220 60.733 io 178.829 739.797 918,626 855.953 CURRENT ASSETS Dehtni. Cash 81 bank and in hand 38,977 389.584 38,977 389,584 19,527 424,532 428,i61 428,561 444,059 CRCDII'ORS Ainounts lallin8 due wiihin onc ycar 12 137,130} {37.1301 {23:402} NET CURRENT ASSETS 391.431 391.431 42U,657 I'OTAL ASSETS LESS CURRENT LIABILITIES 570.260 739,797 1,310.057 1.270.610 PROVISIOINS 13 18,000} 18,0001 16,OODI NET ASSETS 570.260 731797 ,302 057 ,270.610 I., UNDS Unreslricied funds.. Geneial fund 14 570260 536,813 NLW Oi'8an120191 Fund 731797 733.797 TOTAL fuNDS .30?.057 1.270.610 The financial siatetnents werc approvd by the Board ofTru51ffs and auihorised for issue on... . and wei"e signed on ils behaifby= E Townend- Trnstee The notes fomi part ofihese fjnancial suietneD P88¢ 9 CHELSEA OLD CHURCH PAROCHIAL CHURCH COtTr4ClL Cash Flow Statement FOR THE YEAR ENDED 31 DECEMBER 2025 31.12.25 3I.1?.24 Noies Casb liows frorn operatiNg #ttli'lties Cash g¢nerai¢d fn)m OP¢Tation5 53,077 55,666 N¢t Cash provided by operaiing activities 53,077 55,666 Cash IIow5 frorn inTr'esting artiviti¢S Purchase of tangible fixed &ssets Intcrest rcceivcd {ROl,432) 13.407 (2?.6621 10,662 Nei cash us¢d in investing activiiies 88,025) 12.0001 Change in cash and cash equivalents in the reporting period Cash And ta$h ¢quival¢nt5 at the beginning of ihe reportlng perlod (34.9481 4.3.666 424,532 380.866 Cash ylnd cash eqUI￿91t￿lS ai the end or the reporting period 389,584 424,5.12 The noies forni part of thesc Iinancial stalements Page 10 CHELSEA OLD CHL'RCH PAROCHIAL CHURCH COUNCIL Not¢5 to the Cash Flow Statemtllt bOR THE YEAR ENDED 31 DECEMBER2025 RECONCILIATION OF Tr4ET INCOME TO YET CASH FLOW FRO￿1 oPERATI￿4c AcfiviTIES 31 12.25 -71.12.24 N¢1 Income for lh¢ reportlng perlod l*$ per the Stale￿ent of Financisl Acllvltles Adju5tmtntJ lor: Deprcciation rhJrges Lossesllgainl on inv¢sttnen¢S Inicresi roeeived Orgttrt provision IlnLicasclld¢¢r¢as¢ in debitsrs InerLasel(decreascl in crcdilots 31.447 63,&52 36.332 2,428 113.4071 2.000 12,924 110.66?) 2,000 16,%92 27 7811 13.728 Net C*5h provlded by oper8tlon$ 55,(1()6 ATriALYSIS OF CIIANGES IN f4ET FL'NDS At 1.1.25 Cash flow Nel eish Cash al bank and in hAnd 424 532 34.948 389.584 424 532 34 948 fj￿4 TotAI 424 532 34,9481 3x9,584 The notes form part of these financial slatements Page IL CIIELSEA OLD CHL'RCH PAROCHIAL CHURCH COLINCJL 1Sote5 to the Fin*nti*l StateTheDts FOR THE YEAR ENDED 31 DECEMBER 2025 ACCOUNTIIG POLICIES B45is ofpreparailon and a$5¢ss￿eThI of going £oD¢¢rn Thc financial staicments of ihe lha￿￿.. ii'hiih is a public I￿nefIt cniity undcr FRS 102. have bccn PTCPdrc(l i accordancc with rhe ChariiiLs SORP IFRS 10?) 'ALLouniing and Rcpuning by Chariiics.. StlLtcm¢nl uf Recotnmended Pra¢iice applicable lo chantlcs prcpaTing Iheiraecounis in accordancc with Ihc Financiltl RLpufiing Swidard applicable in th¢ UK and Republic of Ireland {FRS 1021 leffe£iive l January ?0191'. Financial Reportijig Standard 102 Th¢ Finaneial Rewrtino Standard appli¢able in the UK and Republtc of Ir¢land' and Ihe CliarillL'% Act 2011. Thc financi31 starements have been PTeparcd undcr the hisioncal cost coiiveiiiion, Iviih lh¢ c.xcepiion ol. lnvesullen￿ which are al tnarket value, ￿ m4)difi¢d by the revaluaiion of c¢rlain asseL&. The trii5tees con5id¢r th¢te are DO material unceffainties aboui Lhe charity's abilily lo continuc as a going conccm. The Teview of the financial ￿sition, Teservt levels and fijmrc plans give5 mlstccs confid¢n¢¢ that th¢ Lhariiy remain$ a going ¢onccrn for thc for¢￿t￿b]e fi]tt]re. All incom¢ resources are reco8ni5cd in ihc Sialctncnl of Financial Activities when." the PCC becomes Icgally cntitled io ihc use of the re50urccs; an inflow gf economic bcnefit is probable; and the moneiary value can be measured willi suificieni reli8biliiy. Grants attd donations dT¢ inrludcd In the SiateJn¢nl of Financial Acti￿.￿tieS when any pre-condition5 prevcniinb Iheir use by IhL' PCC havc becn met. Foi collections and planncd giving th15 is whcD ihc fiinds ar¢ r¢r¢iv¢d. Gift aid and other ¢laim$ ale in¢lud¢d ill the Stat¢Tneni of Financial Aciiviiies ar the same lime as the ¢a5h donaiions to ￿'hICh Ihey relao. Rental income from the Icitjt18 of ihc Church Ptiyt Hall tla( is recognis¢d *hen Ihe Ten￿1 is duc. Investtncnt incom¢ is inelud¢d in the accounts when receivoblc. IAv¢slminl gains and losses iDclude anv gajn vr10ss on the sale of inve5Mlen￿ 8nd any gain or loss r¢suliing from revaluin8 itivesttnenls lo bid tnark¢t value ar the end of ihe yvdr. Expenditure Liabiliiics arc rcc4)grtised a$ ¢xpcDdiwre as soon as there is a legal or wD5trucrive obligaiion cominitlllJbY IIIL harity to thai cxpendiluTe. it 15 probabl¢ thai a Irdnsfei of(xonumir bCnCfiL￿ will bc rcquircd in sciiliniclil and the amollllt of the obl1¥￿Ill0￿ be tneasured reliably. Exp¢ndilurc is accounlcd for on an a¢cnJal.q basis ai)d ha beLn Lla5sifi¢d under hcadings ihai a￿Te￿a(C all costs rklaiLd io thL LatL'gOry. Whci¢ Lx>sts Lannoi bc diiretly attribui¢xi to partiLular headings they have been allocaled lo activities on a basi5 conslstent w'ith thc usc of resources. TaDgible fix¢d ￿$s¢t5 Tangible fixed assets are capil8lised if they Can be used for more than orke year. and cosi ar lea%1 £500. They ar¢ valucd at cost or elsc. for 8ifis-in-kind, ai a reasonable e%titWdie of th¢ir op¢Th markoi value on r¢¢¢ipi. Depreciation is calculaied lo wtiie orrt]ic eapiiali/.¢d cost or rixed assels le%$ ih¢iT CUTrenily aniiLIPalid rLSi(lual fair value over their esiimated use￿] liv¢.% a% follow5-. Fixtures and Fittin85 - 2￿/0 Ot) cosi Chu After LarLful ¢onsidcraiion th¢ PCC has dccidcd that in5t¢ad of a dcprc¢ialion chargc, a provision of £2.￿0 will be made each y¥ar for ihe nLXi fifty years to cnablc th¢ organ to bc broughi llp to a condilion "as 8ood as dl the cxpiry of this time. i.c. a total of £IOO.(MX). Page 12 cot]iinued... CIIELSEA OLD CHURCH PAROCHIAL CHURCH COUNCIL ot¢S to the Finaneiil Stgtements- £Olllinued FOR THE YE.4R ENDED 31 DECENIBER 2025 ACCOU)TING POLICIES- Co￿tiNUed Consecrated and benefite propertv In so lar as consecraicd and bcncfice pn)pcrry of •Jy kind is excluded froTn the statutory definition of 'chariry' by Section 10(2Ma) attd {e} of the Charities Aci 2011 such gsscts are not eapiialised in th¢ fjnancial staicmcnls. Taxatlon The charity is exemp¢ fmm rax on its charitable aciivilies. Fund accounting UnrL%triLted funds represent the funds of the PCC thai are noi subjeci to any r¢slTl¢ticitJS TLgaFdii)8 ili¥ii' usc aiid are available for applicalion on the general PUTPtsSts of iht PCC. Un￿tricted fund5 can bc used in accordiTrncc with the ch3ntablc ObJ￿Ily¢S at ihc discrciion of ihc m]srces. Unre5rriCted funds n￿Y bcroTn¢ d¢signaic41 funds where funds hai'c bc£n rcserved foi a panicular purposL by Ihc pcc. Restricted funds ean only be used for panicular resirici¢d purp05¢5 With5ll the objects ol"Ihe ehariry. Resrricrioii. aris¢ wh¢n Specifi￿ by lh¢ donor or whcn funds aTC raiscd for particular rc51Ticicd purposes. Penslon eotltriblltlons Contribulions payable to ihe charily'5 p¢nsion 5cheTThe rhaTged io the Sialemenl Of Findncial Alliviliis iii IhL period to whi¢h they relate. Debtors Tradc and other debtors are recognised 21 the scttlemcni amouDi aftcr any trade discouni offered. Piepayments are valu¢d at the amount prepaid net of 3ny rrade discoun15 due. Cash at bank *nd ID hand Ca%h at bank and In hand includc r&sh in hand. dcposils hcld ai call with banks. oihcr.shon-Icrni liquid ini'csiniciit with v￿ginal matUTlliCS of ihrec monihs OT less. and bank ovlsrdrdfts. Bank overdrafts arL shown within borrowing% in currertt liabilities_ Liabilities and provisions Liabililies #re recognxsed when there is an obligation at ihe Balance sheei dale as a result of a pasi eveni, it is probable rliat a rransfer of economic benefil will be tequired in s¢ttlem¢nt. and ihe arnouiit of ih¢ setilenieiit cali bc csiimaicd reliablj.. Liabiliti¢s ar¢ Tc¢ognised at thc amounr thai Ihc charity aiiticjpaics ir will pay 10 .Ecrilc ili¢ d¢bi or the amount il has rcceived as advanced payments for ihe goods OT 4¢rvic¢s il tnu41 providc. Provigion5 are measured ai the besl esiimaiL ofihL aA)Qllllis rt'qUifL'd iv 5Liile ihi ubliga(ion. WhLre iIiL iffLLI L)f the time valiie of moncy 15 material. the prni'isivn LS based on the prtseni >alue of ihose ainounis. discuunicd ai the prc tax discouni rate that reflec15 the risks specific io the liability. Th¢ unwinding of the discvuni is rLLugTlllSLd Ithill interest payable and sxjnilar charges. In line with the PCC'S poltcy, a provision of£2.000 will be tnade each year for the nexi fifty years to eiiable the Chiirch OrBan to bTouslil up io a condiiion "as ts(￿)d as E)ew" at Llle expiry of diis Lim¢, i.¢. a Ivlal ur£ i(K),Ix)o. Financial in5trurnents The charity only has financial asscts and financial liabilit¥es that qualify as basic f)nancial in%trumenl% tla%iL financial instn]Tnents are initially recognised ai iransaciion i'alu¢ and subscqucntly mcasurcd ai ihcir sciilcmcni value. Page 13 onrinued... CHELSEA OLD CHL'RCH PAROCHIAL CHURCH COUNCIL Note5 to the Flngncigl St#iemeAts- continued FOR THE YEAR ENDED 31 DECEMBER 2025 VOLUNTARY INCOME 31.12.25 31.12.24 Toial fiin(Is UDTesiricied funds funds Planned givin8 and collcctions Donations. gift income and l¢8acics Gift aid 207.933 47.817 27.330 207.933 47,X17 160.542 6g.Jg1 2X,450 283,080 283,080 2%X.483 INVESTMENT INCOME 31 12.25 Toial funds 31.12.24 Tiiiul funds Untemricied fun(ts Rc$tTic¢cd funds Interest- Bank and CBF D¢posii Fund Diyid¢t)ds- CBF Invcsin)cni Fund 11.719 1,648 INCOME FROM CHARITABLE A￿[VITIEs 31.12.25 31 12 24 Aciivily Chuwh a¢iiviii¢s Church aclivilics Church aclivilie5 Churih aillVIIi¢S Church aclLVLIic5 Church aclLVLIiCS Church acliviiies W¢ddin¥$ and fun¢ral$ Miisii incom¢ Bell rin¥in8 Bdptitsins Pclyl Ilall- Hire Income Pctyl Hall- Flat retllal Other income 99.632 6J.871) 6.4811 0.775 169.750 22,700 57.075 4.3.575 387 102 30? .370 CHARITABLE A ￿1vITIEs COSTS t)IreLI Cn415 l.%c¢ nulL' 61 Church activiri¢s Y.714 Page 14 conrinued... CHELSEA OLD CHL'RCH PARUCHIAI. CHURCH COUTriCIL Yoies to thf Financi#l Statemenl$- continued FOR THE YEAR ENDED 31 DECEMBER 2025 DIRECT COSTS OF CHARITABLE ACTIvrrIES 31.12.25 31 12.24 Staff costs Subconirartor fees InsuTaIlLC CU&t Vicar cxpcnscs SanetiLdTy expenses MUSLC COS15 Events, hospiialiry and entertainmeni- mixellaneous Evenis, hospitality Ind enieriainmeni- ¢aTering ¢o$ts Bvcnis. h05piiallly and ¢nicnainmcnl- Chrisunas Evenlb, hospiialiiy and entcnainm¢ni. parisli lunch ChurLh runnJn¥ costs ChuTLh airs Provision 8,000 14. MOVEMENT IN FLNDS N¢1 Imovemcnl in funds. Ai 31.12.25 At 1.1.25 Unre5trieted fund$ GcnLral fut)d 536.813 33,447 570.26U Re5trlcted funds New Or8an {?Vl 9) Fund 733.797 {2,0(K)I 711.797 TOTAL FLNDS 1270610 31,447 13V2.V57 Ner mov¢m¢ni kn funds, included in the above are as follows: Incomin8 rcsourees Resources expended Gains and IvsyL MovLincnl Unrtxtrl¢i¢d fundy G¢n¢ral fund 683.S89 1647.7141 12.4281 Rejtrltted funds N¢w Organ {20191 Fund 12,0001 12,(M)01 TOTAL FUNDS 683 589 649.7141 31.447 Comparwilves for moyernent In fund5 Nei movenienl in fuiids At 1.1.24 31.12.24 Unrestricted fund5 General fund 471,161 65.652 531),1113 Restrlcted fund% New Organ (20191 Organ Fw)d 735,797 (2,0001 733,797 TOTAL FUNDS 1,206,958 63,652 1,270.610 Page 18 coniinued... CHELSEA OLD CHL'RCH PAROC.HIAI, CHURCH COUNCIL otes to the Financial Stgtements- eontDnued b'OR THE YEAR ENDED 31 DECEIIBER 2025 14. MOVEMENT IN FLTNDS- ¢ontinw¢d ComparaiivL rtet movcmeni in fut)ds. included in the aiy)v¢ are as follow$- Ineoming resources Resources expcnded Gains and Ios5CS Muvcmeni Unrestrlcted funds General fund 571.515 (507.2221 1.359 65.652 Restricted funds New Organ {2019) Fund {2.OlX) 12.0(M)I TOTAL FUNDS 571 515 509,222) 1,359 A curr¢ni year 12 mvnths and prior ycar 12 rnonths ¢ombinwJ position is 89 follows.. movenieni In funds Al I 1.24 31 12 23 Unrestricted fund$ Cicncral lund 471.161 99,099 570.200 Re$irlcted fund¥ Ncw Or¥an120191 bund 735.797 14.0001 711.797 TOI"AL FUNDS 1206 958 Y5.IWg A currenl year 12 monihs and prior y¢ar 12 monih5 combined nei movemeni in funds, In¢lud¢d iii Ihe aboie are AS follows.. Incomiv rc$ourcc5 Rcsources ¢xp¢nd¢d Gain5 and losses Movcm¢'iit Unrestri¢ied fund5 Gcncrul fund 1.255.104 11.154,936) (1,0691 Restrlcttd fund5 New Or¥an120191 Fund 14,11(K)) (4,VOOI TOTAL FUNDS 1255 104 11 158.936) 1.0691 95.099 Page 19 ¢ontinu¢d... CHELSEA OLD CHL'RCH PAROCHIAL CIIURCH COUTr4CIL Notes to the Flnan¢i#l StaterneDts- continutd FOR THE YEAR ENDED 31 DECEMBER 2025 15. RELATED PARTY DISCLOSURES Thc Church is fortunate io be (he bcncficiary Of Iwo independeni Tnjsts, nainely the ChLIsLa Old Chur¥h Orgaii Music Trust ￿h￿ch 5UPPUrts the use of Ihe pipe organ In Chelsea Old Churih and. sccondly, Ihc Chc15ca Old chU￿h Tn]st which has mor¢ general powcrs favour principally for thc bcnefil of rhc Parish. Total donations made lo Ihe chariry by members ofthe PCC duiing the year ended 31 December 20?5 ami)uJiied 10 £12,065 {2024.. £15.829 }. None of these carried any ¢ortdiiions oil receipi. Page 20 CHELSEA OLD CHLRCH PAROCHIAL CHURCH coufiCIL Detailed Statement of Finanri*l.4ttivitie5 FOR THL YEAR ENDED 31 DECEMBER2025 31.12.25 Total fund9 31.12.24 Total fi￿￿5 Utwestrieted funds Restricted funds INCOME AND ENDOWMElYtS Voluntarv income Planned giving and collection5 Donations, gift income at￿ legacie5 Gift aid 207,933 47.S17 27.330 207,933 47,817 27,330 160,542 69,491 28.450 283.080 283,080 25S,483 Investment intome IDtcresi- Bank and CBF D¢posit Fund Dividends- CBF Invcsimeni Fund 9.(114 1,648 1.688 1,688 13.407 13,407 10,662 Charitable artivitie5 Wcddings and funcTals Music incom¢ Bell ringing Baptisms P¢ryi Hall- Hire income Pclyt Hall- Flat r¢ntal Other in¢om¢ 99.632 63.870 6.480 6.775 169,750 22.71)O 17.895 99.632 6),870 6.480 6.775 169,750 22,7(JO 17,¥95 57.075 43.575 4.680 6.910 143.018 30,¥96 16.216 387.102 387,102 302 370 Total illcoJlllD¢ rowurces 683.589 683,589 571,515 EXPENDITURE Charitable a¢iivitie$ Salaries and 50rial s¢curity Pcnsion contributions Subconiracior f¢¢5 nsuTance costs Vicar Lxpense5 Sanctuary exp¢nses Music costs Ewenis, huspilality ?nd enicnainmeni- isccllancou5 Events, hospitality and enlcrtaintneni- ￿terIng costs Events, hospitality and cni¢nainmeni- Christmas Events, hospiialily and ¢Dt¢rtsinment- parish lunch Church rnnning costs CaTti¢d forward 70.448 72,%28 6Q.150 1.360 17.815 6.329 1.094 17.197 81).887 13,224 6,897 I,)83 26.917 135,046 13.224 6.897 .583 26.917 135.046 18.875 18,875 15,103 6,162 1.594 6,162 1.594 1,52 2,435 1)6 38,962 324.795 126 38,962 324.795 5.2(?4 38,920 257.142 This page does no¢ forni pan of the staftjtory Iin3nci31 stat¢ments Page21 CHELSEA OLD cHL￿CH PAROCHIAL CHLRCH COUL)CIL J)elgiled Stgtement of Financial Activities FOR THE YEAR EYDED 31 DECE.IIBER 21125 -11 12 25 To￿1 runds 11 1? ?4 u[￿¢strI¢￿4j funds funds Ch*rit•bl¢ a¢tlvlll¢s Brought forward Church and hall Lnainienance Ver8er expenses Printing and admini$tratio Travellittg and accoJJ)modaiion Bank charges Sundry ¢xpcn$es Dio¢csan PaTish shaT Diocesan parochial fees Charitable coniribuiions Flat r¢ntal- managcmcnl fees Flat rcntal- other ¢osts Profcssional f¢cs- mis¢¢llancous Professional fees- ind¢p¢ndent exarnillatioll Professional f¢es - bookkeeping Organ Fund- repajrs provisjo Improvemcnis lo property Depreciation FLXtures and fittiijgs Compuier equipm¢nt 3?4.795 63,386 59,131 9.630 1,049 1,782 60 1 ?2.0?5 324.795 63.386 59,131 9,630 1.049 1,7112 60 122,025 ?,881 ?57,14? 33,3l)5 41.154 9,183 1,758 1.109 I20,￿)0 5.822 8,543 2.268 2.268 1,440 6,752 3,960 5,1?0 6.7)2 1.960 5,120 2,OUU 20.091 5.li.I 3,960 5.088 ?,000 ?0.091 11.904 1,020 15,026 15,U26 647.714 ,O(K) 649,714 509,222 Total resources expended 647.714 2,000 649.714 509.2?? Net kncom¢ beftsre gain5 and losses 35.875 (2,0(K>l 33.875 62,293 Rcllli¥cd recognised g*irts irtd los Realised gain￿(10S5¢s) on fixed asset invesrmenis {2.4281 12.4281 1,359 Net 33.447 2,0(Kll 31,447 Tbis pag¢ ijoes noE forn) part of the slatuiory lj]wicial stateTnenls Page 22