The Parish of S. Alban the Martyr, Holborn Jvith S. Peter, Saffron Hill Annual Report of the Parochial Church Counc]il Financial Statements January 2024- December 2024 [Present¢d at the APCM: 25 May 2025] Vicar & Parish Priest Father Chrlstopher Smlth S. Alban's Clergy House Brooke Street London ECIN 7RD
Annual Report on the proceedings of the Parochial Church Couneil and the aetfvfitfies of the Parish genernlty for the period: January- December 2l124 l. Aims and Pur ses of the Paroehirdl Church Council: The S. Alban's ParochAal Church Council (PCC) has the responsibility of co-operating with the Incumbent, Fr Christopher Smith, in the pmmotion of the whole mission of the Church within the Parish: pastoral, evangelical, social. and ecumenical. It also has responsibilities for the maintenance, preservation and insurdnce of the Church building, the Clergy House and of the S. Alban's Centre, and for the management of the fmancial affairs of the Parish. PCC members are responsible for preparing the Annual Report and Financial Statements in accordance with applicabl¢ law and United KAngdom Generally Accepted Accountlng Practice. The Financial Statements for each financial year should provide a true and fair view of PCC activitles for that perii)d. In preparing th¢se financial statements the PCC members are required to: Select suitable accounting policies and apply them consistently. Make judgements and estimates that are reasonable and prudent. Stste whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements. Provid¢ fanCIal statements reflecting the continuity of affairs, unless otherwise applicAble. Members of the PCC are responsible for keeping proper books and a(xounting records that disclose with reasonable accuracy at any time the financial positlon of the PCC. All financial statements must comply with the Charities Act, 2011. Members are also responsible for safeguarding the assets of the PCC and must implement reasonable processes to detect and prevent fraud and other irr¢8ularities. PCC members must confirni that they have taken all practivdl steps to make themselves aware of any relevant audit AnfonTtation and, to the best of their knowledge, this has been made available for the Tndependent Financial Examination, es and Aetivi ' The PCC is committed to promoting public worship for all, and in particular to those who live or work in the ecKlesiastical Parish. The PCC aims to support all who wish to worship at S. Alban's and become part of the life of the church. To this end, all services are public, and we also seek to be open to anyone wishing to attend our local community and social events. In the liturgical, pastoral and missionary life of the Parish, the PCC takes account of the Charity Commission's guidance on publAC benefit in relation to charities for the advancement of religion. We make provision for the availability of pastoral care to all residents of the Parish, and aDy others who come in need of it, as well as our social, missionary and outreach work. Responding to the pastoral needs of both the regular congregation and parishioners is regarded by the Parish Priest and PCC as an important part of their work. In Order to facilitate this work, it is important that we nintain the fabric of our buildings? specifically the church and church centre.
3 Achievements and Performance: The church offered two public masses every Sunday at 9:30 and I lam (one l 0:30 Mass each Sunday in August), with daily worship at 12.30, Monday to Friday. The sacramcnts of Matrimony, Baptism and Confimiation, and the Funeral rites were available to all who are resident in the Parish or on the Electoral Roll, subjcct to the provision of the Canon Law of the Church of England. The church and Parish Priest were also available to the primary school in the parish. and children were often brought by their teachers for educational visits and school worship. The Parish ran a children's religious activities group {JaM) and youth group which were op¢n to all who were interested. 3.1 The Electoral Roll of the Parish: It was reported that there were 93 names on the Electoral Roll as of May 2024. (The number was 85 in 2023). .2 Attendan tth etober and Novem 24 Weekda 's'. wi W2 Week.. W3 W4 W5 Av. per ck si S2 S3 S5 Av per Sundav 66 62 Iki. 2024 Noy. 2024 37 66 34 124 46 31 26 32 44 61 37 63 73 54 58 62 63 66 68 xxx Oci, 2023 Nov. 2023 46 220 45 88 6t5 34 20 48 37 85 J)0 64 95 72 58 84 53 64 55 70 71 34 Notes: Numbers of days in some weeks vary, depending on calendar dates. Averages are rounded. Some entries reflect attendanrK at School Masses and special services. 3J Caterin Grou The Social and Catering team continued its work this year. The provision of coffee and other refreshments post-th¢ Sunday masses remained an important part of the church's outreach and mission, alongside catering for patronal festival activities, on holy days of obligation and at the nine lessons and Carol service. A joyous highlight this year was the reception following the First Mass of Father Duncan Hegan on 2 July 2024. Donations to the costs of refreshments after the 9.30am Sunday mass again substantially supported the very high cost of church flowers. 3.4 Flowers: The Parish continues to be supported by a very small but loyal team of volunteers who manage the purchase and provision of floral displays for the church. 3.5 Meetin s of the PCC in 2024: There were four meetings of the PCC in 2024. In addition to the regular reports from committees and on other parish a¢tivities, the following matters were considered:
On Tuesday, 20 February 2024.. There was extensive discussion about the financial challenges due to the income deficit. The loss of an important client had a particularly large impact on finances, although this would be temporarily off-set by election r¢lated lettings. Extensive restoration of the Compton Organ had increased in cost. The work began in January 2024 and was expected to conclud¢ in April 2025. The draft APCM reports and accounts were approved. On Sunday. 26 May 2024 (after the APCM): Election of the Vice-chairman to the PCC, the appointment of PCC officers and confirmation of the Independent Examiner for the 2024 accounts. rd On Tuesday. 23 July 2024: The PCC agreed to the 2025 Common Fund figure of £76,160. VAT was being recovered for the cost of the Organ repairs. The renovation was now well underway. Renovation of the Lady Chapel was identified as the next major capital expenditure project, Following the departure of Mary Thorne, the Children's Champion, there was some discussion about th¢ continuation of regular parish children, s work and outreach. The appointment of new School Governors in October was considered. th On Wednesday, 30 October 2024: More progress had been made recovering VAT on repairs to the Compton Organ. Safeguarding was discussed in detail with particular emphasis on training and DBS checks for members of the PCC involved with children's activities. Reappointment and replacement of School Governors was agreed. It was noted that the Centre heating system would require significant attention at some point in the future. On Wednesday, 27 November 2024, th¢ Archdeacon met the PCC for his Triennial Visitation. 4 Finance: 4.1 Results for the Year: The annual accounts including the notes show details of income and expenditure for the year and of the financial position at 31° December 2024 Net outgoing resources (deficit) before gains or losses on investments arnounted to £81,500 (2023 net incoming resources of £45,400). Excluding expenditure on the overhaul of the organs (£57,400 net from funds held on behalf of the PCC by the S Ursula's Trust), the legacies of £1 l 0,000 received in 2023, and a non-cash depreciation charge of £20,800 in both years, the underlying deficit in thc year was £3,300 compar¢d with £64,300 in 2023. Factors contributing to the underlying improvement were :_ Increase of £17,500 in nornial giving. £12,000 Gift aid tax recovery related to giving in previous years.
Increase of £32,200 in interest, dividend and net rental income. Reduction of £5,200 in the deficAt of S Alban's Centre. The Parish Continues to pay the requested Diocesan Common Fund contribution amounting to ££77.200 in 2024 (2023 £74.400). After unrealis¢d gains of £15,300 in the value of investments, total funds fell by £66,200 (2023 in increase of £69,400). Liquid resources in the forn] of bank balances and deposits decreased by £97,700 to £606.000 reflecting payments on account of the organ work, l¢ss net fiinds received. 4.2 Risk Mana ement: The PCC has discussed various aspects of risk management and will continue to give attention to the development of a ¢oherent strategy for the future. 4.3 Audlt- Inde endent Examination: The PCC has continued to take advantage of the exemption from an ind¢p¢nd¢nt audit available to charities with an annual income of less than £1 million and to opt instead for an Independent Examination of its accounts. 4.4 Investment and Reserves Polic The investment policy is based around compliance with the Church of England's ¢thical investment policy and 'list of avoidance" A Financial Review and inforniation on the Reserves Policy are provided in notes to the accounts. The various Investment Fixed Assets are also summarised in the accounts. 5. Parish activities ke ' themes and future lans: Inforniation r¢lat¢d to this section is available as an appendix to this report: The Mission Action Plan. 6. Structure Governance and Mana ement: The PCC is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council Powers Measure [ 1956] and is a registered charity governed by the Charities Act [2012]. The appointment of PCC members is in accordance with the Church Representation Rules [CRR:2022]. th The PCC has endorsed formal adoption of the Safeguarding Policy (minute: 25 May 2016) in compliance with Section S of the Safe8uarding and Clergy Discipline Measure 2016. PCC membership consists of the IncumbenL Assistant Curate, SSM Assistant Curate, two Churchwardens, the Parish's two Deanery Synod representatives (all ex-officio) and nine ¢lected members. Members of the PCC are responsible for making decisions on all matters of significant expenditure, g¢neral concern and importance to the Parish.
The full PCC met four times in the year with an av¢rage attendance of approximately 75 %. Details of the Committees and Groups which facilitate the work of the PCC ar¢ given below, with much of the support provided by volunteers. 6.1 The Standin Committee: [also fvnclioning as the Cenlre Management Committee to oversee managemenl of the Cenlre on behalf of the PCC] is required by law and trapLsac¢s the business of the PCC between ils meetings, subject lo the direction of ihe PCC. Jt comprises the Vicar (and, in the absence of a vicar. the Vice-chair), the Churchwardens, Ihe Secrelary and the Trea.surer. 6.2 Altar and Sacris Grou arranges the provision and maintenance of requisitesfor ihe celebration of the liturgv. and mukes recommendations to the PCC for the pt4rchase and repair of veslments, plate &c. 6.3 Safe uardin The PCC has continued to adopt the relevant Diocesan Safeguarding Policy. The church's activities provided by and/or approved by the PCC which involve children Éneluded this year: the "Jesus and me" (Jam) Sunday Group, the Friday and Saturday Youth Clubs, Summer Camp and Young Persons, Pilgrimage Camps. Adults working with children in these groups are DBS ¢he¢ked. The Safeguarding Officer continues to ensure that DBS checks are obtsin¢d whenever required and are kept up to date. A new Children's Champion was appointed following the mov¢ away from the parish of the fornier role holder. There are no church related activities provided by or approved by the PCC which involve adults who are vulnerable. There have been no safeguarding issues concerning either children or vulnerable adults. [This report accord5 with the recommendation in the Diocese of London's Parish Safeguurding Self Audit to supply the Annual Paro¢hial Church Meeting with a written report by the Church Safeguarding Offi¢¢r, Kate Batchelor (DBS checked and safeguarding trained).] 7. Administrative Information: Th¢ address and main details are given on the front page of this report. Charity Register details: The Parochial Church Council of The Ecclesiastical Parish of Saint Alban The Martyr, Holborn With Saint Peter, Saffron Hill: Charity Number: 1135568 Bank: The National Westminster Bank plc, 38 Strand, Londoii WC2N 5.IB Independent Examiner: Anver Patel, Prestons & Jacksons Partnership LLP, 364-368 Cranbrook Road, Gants Hill, Ilford, Essex IG2 6HY Members of the PCC are either ex-officio or elected by the Annual Parochial Church Meeting (APCM) in accordance with the Church Representstion Rules. During the year, the following served as memb¢rs: 7.1 Ex-officio Members:
Vicar". Assistant Curate: SSM Assistant Curate: Fr Christopher Smith Fr Duncan Hegan Fr Ronald Corp OBE Churchwardens: Stephanie Ellner (Vice-chairnian to APCM 2024) Alison Cratchl¢y (Vic¢-ChairniarJ from APCM 2024) Deanery Synod: David Ballance (Treasurer) Peter Bithell 7.2 Elected Members". Jason Burch Ruth Hanson Simon E Jones Simon J Jones Roger Lomax Joseph Poon Tony Trowles Robert Walker (Secretary) N¢il Wilson 7JA ointed b tbe PCC: Deputy Treasurer: Electoral Roll OITicer: Website editor: Burial Society Secretary: Stewardship Recorder: Church Safeguarding Officer: Children's Champion: Roger Lomax Stephanie Ellner Fr Christopher Smith Fr Christopher Smith Amanda Evans Kate Batchelor Mary Thorne (to September 2024) Stephanie Ellner (from September 2024) Ruth Hanson Healih & Safety Officer: 7.4 Scbool Governors: Appointed by the PCC: Fr Nigel Palmer Anouk Gouvras Tony Trowles (to October 2024) Fr Duncan He8an (from October 2024) 7.5. Parish Staff: Vicar and Parish Priest: AssisLint Curate: SSM Assislant Curate: Director of the Music: Organists at the 9.30 Mass: Sacristsn: Fr Chrislopher Smith Fr Duncan H¢gan Fr Ronald Cory) OBE Edward Batting David Ballance (honorary) Robert Walker (honorary) 7.6 Church CODtact details:
7.6 Church contact details: Parish Office: Fr Christoph¢r Srnith Web site: St. Alban's School: 020-7430-2551 fathercsrnith ail.com www.stalbansholbom.or ' 020 7242 8585 stalbans.sch.camden.uk sied. Father Christopher Smith Date approved by the PCC: "26.
St Alban the Mar r Holborn Mission Action Plan: 2025- 2029 To align the mission of our parish with the Capital Vision 2030 objectives, the MAP uses these as its structure. WORKING DRA Confident Dis¢ipl¢s Objeeiive Compassionate Communities Objeaive Creative GTOWth R¢sB Objecllve Resp. MAP I(a) Cfl(d) Clergy/ All MAP 2{1) Be mor¢ inl¢ntional and oiganised with OUT external giving and link this to an overall skwBrdship programme. Conneclion eslablishedwith Camden FoodbaNk which has incréasedoiirgiving andalso pr0videdoppoi.1wiiliesforp1Ural mlhlstrj,. pc MAP 3{A) Further resouTce the youth and children's work. Double JAM resources, aiming for two groups. I l+ prov'n. Updaie.. l} I provision solidand growing (esp Pilgrims %roirfp). Earlyprogress lowardsyoiiih worker conyortium, through SL)I' bid. Yotsrh Pilgrlmage and childre s Pilgrimage anntlally. pcc Foster a culture of personal invitation go that our p¢ople ar¢ equipped io brin8 Other5. Provxde more opportuntties for invitstion in addition to regular worship. Updale.. Goodpick-up posl-reopening, inc Some p7ew worshwpers. People do Im)Ii¢ frien&f/relalives to big services e.,g. Curol SenJi¢¢, SIAlban s Day. Fr DH sfiryt mass. IW l{b) Cl¢r8yI All 4P 2(b) pc MAP 3(b) Clcr8y R¢yource ¢Hch othcr to be amb&ssador.g f(trr Christ by developin8 ¢uliure of volunieerln8. Improv¢ parti¢ipatlOA in the litur8y at boih Sunday Mass¢s by ¢Dcouraging lay roles. Updale.. some +ve respuns¢s livre,. slrate inpla¢¢for expaIng this. Continu¢ with op¢n church poli whi15t improving signposting. Seek out ways in which our buildin8s can be better u8ed by the wider community. Cro Teferen¢¢s lo l(d). Updale.. Signttge ImPVed, better advertising uf $ervic¢s/evenis/chwrh being ope4Y. Open chttrch aiiracis slgnifi¢ani foollallwiih atlendanl opporluni<Ie5forSloral ministry and¢VonlIsm. Plant at Sl Dunslan in the W¥st (¢ury¢nily Vant). with paTticular focu5 on mit)isty lolin the wurkplace. Updale.. Ihi.T avenue Ir1edb htkf been closed off bv evenls. Any oiherpossibilities7 Dep¢nd¢nt on sid MAP I(c) Deepening lay discipl¢ship so that our people can be confident and strong in their Christian faith. Advent and Lent reading groups plus Bible Sthdy launched, with good attemlance. Clergy MAP 2(c) Continu¢ building church/school partnership, and retsin contact with school leavers. Update.. Fridayyouth grnup. class mass and collective woi'ship weekly, several whole school masses a term. Fr DH helping with RE leaching. In Early Years weekly lastyear. MAP 3(c) Student ministy. Target attendance at Adoremus 2025. Update.. Young Adults group and Student Mass both launched and going well. Promoted via connections with UCL andLSE. ci ci er
MAP I{d) MAP 2(d) Develop workplace ministry by getting better visibility at the Inns of Court and other workplaccs in th¢ parish through targeted events. Update.. Good connection with Record Hall established, whlch has resulted in increased Foodbank donations and a connection with the school. Has also drawn worshippers. IW 3(d) Develop strategi¢s for positive future usc of the Centre, (i) for mission and social outreach projects, (li) for revenue generation. This will be a major item for 2022, across the three calegories. Update.. Increa¥e in centre boolings from Record Hall. Usedfor bible study, reading groups, Monday seniors '0p and Friday youth club, MAP I{e) Encouraging participation in the wider life of the Church. Join Walsingham National Pilgrimage 2025, Promote events at other churches. Deepen personal spirituality. Increase attendanc¢ at daily mass and encourage daily prayer by developing resources for use at home and at work. Guilds? Updale.. Noliceable increase in daily Fnass attendance. Broke doublefigures on 15/1J/24. -cf 2(d). l (¢). MAP 2(E) ci er MAP 3(E) Cl¢r8y Build connection with the Lodge. Good relaiionships with several residents and some attending mass {] daily communicant). Clergv invited to intervention meetings wilh residents and support workers. Improve online presence Social media revitalised. Regularly updaied by Fr DH. Celebrating what goes on in the parish + adverlising/promoting upcoming events. 10
INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS OF The Parish of & Alban Ihe Martyr. Holborn with & Peter, SalTron Hlll For the year ende4J 31" December 2024 INDEPENDxNf EXAMINER'S REPORT TO THE TRUSTEES OF THE PCC I r¢p¢Xt to the membeTS on my ¢xamination of the accounts of The PCC of S. Alba The Martyr. Holborn (the PCC) for the year ended 31Jt December 2024. This r¢port is made solely to the charity's trustw as a body. in acwrdance with section 145 of the Charilies Act 2011. My worf( has been undertaken so that I might s&t¢ to the charity's trustees those matters l am required to stst¢ to them in this rep)rt and for no other purpose. To the fullest extent p¢nnitted by law, I do not accept or &8sume resw)nsibility to anyone other than the charity and the charity's trustees as a body. for my work, fi)r this reporL or for the opinions I have forn*l. Responslbilltk8 and baJfi• of report As the members of the PCC you ore responsible for the preparation of the accAHmts in COrdanCe with the requirements of the Charities Act 2011 ('the Act,). I rert in respect of my examinatson of the charity's ac(x)unts carried out under seclion 145 of the Act and in rrying out my examitiation I have followed all the appticable Directions given by the Charity Commi88ion under sectton 145(5Xb) of the ACL An independent examination does not Involve gathering all the evldettee that would be required in an audlt and nsequently does not cover all the matters that an auditor consid¢rs in giving their opinion on the accounts. The planning and Conduct of an audit 8oes beyond the limited &8suran¢e that an independent examination can provide. Consequently. l express no audit opinion on the a¢counts and my report is limited to those sp¢¢ifi matters set out in the independent exsminer's ststemenL Independent exomlner's 8tatement I have completed my examination. I confirni that no material matters have clbme to my attention In Connection with the ¢xamination giving me cause lo believe that in any material respect..
accounting records wer¢ not kept in respect of The PCC as required by stiOn 130 of the A¢L' or the accounts do not a¢o)rd with those records or the accounts do not comply with the applicable requirements concerning the forni and ntent of accounts Bet out in th¢ Charitics (Acwunts and Reports) Rc8ul&tions 2008 other than any r¢quiT¢ment that the aeeounts 8ive a true and fair vi¢w which is not a matter considered as part of an independent examillation. I have no concerns and have com¢ across no other matters in connection with the exarninion to whi¢h attention Should be drawn in this rerK>rt in Order to Enabl¢ a wiper undcr5tandin8 of the accounts to be reh¢d. Anwer Patel BA (Hongj FCA BFP ICAEW Prestons & Jcksons Partnership ILP 364-368 Cranbrook Rogd Ilford Essex IG2 6HY 01 06 11
PAROCHIAL CHURCH COUNCIL OF & ALBAN THE MARTYII HOLBORN Statement of Flnandal Actfvltles For the Year Ended Note Unreslrleled Restrlrt Fun<b Total Fund8 202 2023 INCOMING RESOU Voluntary income 2(A) 426,123 426,123 231.086 Inwme from inveslments Church activities Other incoming rewurces TOTAL INCOMING RESOURCES 2(b) 2(e) 2(d) 34.275 47.516 34.275 47,516 19,127 42,059 507 914 292 72 Church activities TOTAL RESOURCES EXPENDED NET INCOMINGI{OUTGOING) RESOURCES BEFORE TRANSFERS Transf¢rs between funds IYET INCOMINGI(oirrGOING) RESOURCES BEFORE (yfHER RECOGNISED CAINS AND LOSSES 3(aylb) 588 455 455 955 955 589410 267404 267404 (80,540)) (955) (81,496)) 24,868 (80.5411)) {955) 181,496)) 24068 Gains (losses) on investh]ent &8sets on rrvaluation 19 4319 NET MOVEMENT FUNDS (69A43) (955) (6&179) 5U08 BALANCES BROUGHT FORWARD 1.1.24 1.251,862 26232 183.376 1,461.471 1,409,163 BALANCES CARRIED FORWARD 31.1224 £1182 420 £25 77 £187 96 £1 92 £1 12
PAROCHIAL CHURCH COUNCIL OF S. ALBAN THE MARTYII HOLBORN Balance Sheet asAt 31st December 2024 Note 2024 2023 FIXED ASSETS Tangibl¢ 342,800 363.600 Investments 385,642 370.325 CuRRETr ASSETS Debtors Short tem] dcpo8its Cash at bank 196,899 606,047 25,938 703,719 806 898 732 131 LIABILITIES: AMOUNTS DUE THIN ONE YEAR Creditors and aCCnlS 140,047 4,585 NET CURRENf ASSErs 666,851 727,547 TOTAL NET ASSETS 395 93 1461472 PARISH FUNDS Unrestricted Restricted Endowrnent 1,182,420 1,251,862 25,277 26,232 187,596 183,376 1395 292 1461471 Approved by the Parochial Church Council on 26 February 2025 and signed on its b¢half by:_ Father Christopher Smith {Chairn]an) D Ballance (Treasurer) 13
PAROCHIAL CHURCH COUNCIL OF S. ALBAN THE MARTYII HOLBORN Statement of Cash Flows For the Year ended l Deeember 2024 2024 2023 NET SURPLUS (DEFICIT) FOR YEAR 31.12.24 (66,179) 52 J08 Ad'ustments for Depreciation Unr¢alised investment gains Increase in debtors Increase in creditors 20,800 (15.317) (170.961) 135462 20,800 (27.440) 902 NET CASH INFLOW (OUTFLOW) FROM OPERATING ACTIVITIES (96,195) 46.570 INCREASE (DECREASE) N CASH tN THE YEAR (96,195) 46,570 CASH FUNDS AT I JANUARY 2024 706,193 659,623 CASH FUNDS AT 31 DECEMBER 2024 14
PAROCHIAL CHURCH COUNCIL OF S. ALBAYJ THE MARTY HOLBORN Notes to the Accounts for tbe year ended 31st December 2024 ACCOUIYTING POLICIES The financial statements of The PCC. which is a public benefit entity under FRS102. have been prepared. in accordance with the Charities SORP (FRS102) ' 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 (FRS102) (effective l January 2019)" and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. The aountS are prepared under the historical ¢ost convention ¢xc¢pl for investment assets which are shown at market value and certain properties (both consecrated and beneficed and other) which are excluded from the accounts. the latter having been acquired many Yea ago. Funds The Genera] Fund represents the funds of the PCC that are not subject to any reslrictions regarding their use 2nd ar¢ available for the general purposes of the PCC. Incoming r¢sourc¢s from ¢ndowment funds (excluding the Parish Fabric Trust) are treated as part of the General Fund. R¢stri¢ted funds are those funds which must b¢ spent on restri¢t¢d purposes. Details of the funds held are provided in note 9. The accounts include all transactions, assets and liabilities for which the PCC is responsible in law or over which the PCC exercises control. Related organisations referred to in the PCC Annual Report are not under the control of the PCC and are therefore not included within these accounts. The S. Ursula's Home is referred to in note 8. In¢omiD Resourees Incoming resources are recognised in the following manner:. (i) Collections and planned giving, whether by Gift Aid or otherwise, when received. (li) Jncome tax recoverable on donations when the income is recognised. (iii) Grants and lega¢ies to the PCC when the PCC is notified of its l¢gal entitlement, the amount due is quanlifiable and its ultimale receipt by the PCC is reasonably certain. (iv) Income from fund raising and similar events gross when received. (v) Income from lettings (including S. Alban's centre) gross when the income is due. (vi) Investment income and interest receivable when receivable. (vii) Realised gains and losses on investments are recognised when the investments are sold or redeemed while unrealised gains and losses are accounted for on revaluation of the investments at 31 December. 15
PAROCHIAL CHURCH COUNCIL OF S. ALBAN THE MARTY HOLBORN Notes to the Accounts for the year ended 31st Deetmber 2024 ACCOUNTING POLICIES ton't Resourees Ex ended The contribution to the Diocese of London Common Fund (to cover the cost of clergy and c¢ntral overheads} is arxounted for in the year in r¢sp¢ct of which the payment is sought. Any unpaid contribution at 31 December is included in the balance sheet as a creditor (though not a legal liability). Expenditure is recognised on the accruals basis as a liability is incurred. Expenditure includes VAT whtch cannot be recovered and is reported as part of the expenditUTe to which it relates. Fixed knets Property.. Consecrated and beneficed property of any kind is excluded from the accounts by s.96(2)(a) of the Charities Act 1993. Other properties comprising the S. Alban's Centre and two residential flats are included in the accounts al cosl and are depreciated on a straight line basis over 50 years. These buildings are intended to be used for charitable purw)ses. Therefore, they have not be¢n treated as investment properties. Inveslhients: Investments are valued at market value on 31 December. Other.. No other assets are capitalised on the grounds of materiality Current Assets Amounts due to the PCC at 31 st December in respect of lettin, oiher income and estimated tax recoverable are shown as debtors less provision for any amounts that may noi prove recoverable. INCOMING RESOURCES Total Funds Unrestricted Restrieted Endowment 2024 2023 2 (a) Voluntary Income Planned giving Tax recoverable Collections Grant and payrnents for music (Note 8) Youth work grant Organ overhaul funds Curate grant Grants for Church Legacies Diocese grant for heating Other 49,801 20,727 12,243 49,801 20,727 12,243 32,333 7,500 10,405 43,852 4,891 286,500 43,852 4,891 286,500 46,117 1,543 7,730 4,629 110,000 1,139 1,139 6,969 426,123 6,969 10.828 426,123 231,086 Unrestricted Restricted Endowment Total Funds 2024 2023 2 (b) Income from Investments Dividends and interest 34,275 34,275 19,127 16
PAROCHIAL CHURCH COUNCIL OF S. ALBAN THE MARTYII HOLBORN Notes to the Accounts for the year ended 31st December 2024 INCOMING RESOURCES ctd Total Fund Unrestrieted Restricted Endoivment 2024 2023 Churcb Activities Letting income S. Alban's Cenlre Flat and car park rental Music lettings Votive Tracls Fees Miscellaneous 15,575 31,691 15,575 31.691 18,665 22,816 250 250 578 47 16 2{d) Otber Incoming Resources Insurance claim Write back of old cheques xp Total Fun 2024 Unreslricte Restricted Endowment 2023 3(a) Church Actlvltles Ministry Diocesan Common Fund Assistant cl¢r&v Clergy expenses Maintenance of Clergy House Music Church running expenses Sanctuary Heat, lighL water Maintenance Organ overhaul Insurance Adminislration Mission and external giving Children's and youth work Sundry Governance- Independent Examination S. Alban's Centre costs Expenses of let flats (77.180) (398) (1,761) (898) (48,242) (77,180)) (74445) (398)) (5884) (1,761)) (1090) (898)) (355) (48.242)) (44029) (2,442) (10,977) (15,890) (343,920) (13,686) (10,263) (955) {3,398)) (5207) (10,977)) (18552) (15,890)) (14785) (343,920)} (13,686)) (16459) {10,263)) (7214) (2200) (3533) (690) (5,153) (725) (5,153)) (725)) (3,198) (40,064) (3,198)) (2808) (40.064)) (48268) 13,658 21885 (589,410 267404 588,455 955 17
PAROCHIAL CHURCH COUNCIL OF & ALBAN THE HOLBORN Iyotes to the Accounts for the year ended 31st December 2024 Total Fi Unrestricted Restricted Endoivment 2024 2023 3(b) S. Alball's Centre Expenses: Booking commission Management fees Labour Cleaning Food and supplies Maintenance Light, heat and water Insurance (130) (67) (5,534) (10,806) (3,872) {130) (34) (67) (83) (5,534) (2374) {10,806) (13881) (3,872) (3872) Marketing Equipment hire Equipmenl and furniture purchase Depreciation Miscellaneous expenses (72) (19.000)) 583 (72) (8449) (19,000) (19000) 583 576 48268 TANGIBLE FIXED ASSETS Freehold BulldlDgs IKasehold BulldingJ Total ActuallDeemed Cost At l January 2024 950,000 90,000 1,040,000 At 31 December 2024 950,000 90,000 1.040,000 reciation At l January 2024 Charge for year 608,000 19,000 68,400 1,800 676,400 20,800 At 31 December 2024 Net Book Value At 31Deeember 2024 627 000 70.200 697,200 323,000 19000 342000 A¢ 31December 2023 The properties comprise:_ (i) S. Alban's Social Centre (freehold) (li) Flat in Leigh Place, ECI (part of the S(Kial Centr¢ building). 342,000 21,600 363,600 (iii) Leasehold flat in Baldwin.'s Gardens. ECI 18
PAROCHIAL CHURCH COUNCIL OF S. ALBAN THE MARTY HOLBORN Notes to tbe AccouDts for the year ended 31st December 2024 2024 2023 INVESTMENT FIXED ASSETS maet value at l January 2024 Proceeds of salc and redemptions Unrealised gains/(losses) Realised gainsl{losses) 370,325 342,885 15,317 27,440 Market value 31 December 2024 385,642 370,325 ortfolio details UK inv nts (i) CBF Investment Fund (li) Listed ordinary shares 311,358 74,284 304.355 65,970 385,642 370J25 DEBTORS 2024 Income tax recoverable Centre lettings Amounts owed by connected trusl VAT rexoverable on organ overhaul Prepayments and other receivables 9.000 4,225 147,915 33,716 2,043 21,992 3,946 196,899 25,938 Income tax represents amounts recoverable on giving for both restricted and unrestricted fvnds in 2024 LIABILITIES: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Collections for special causes Rent received in advance Organ overhaul Accruals 900 1,385 134.712 3.050 900 1,385 2,300 4585 19
PAROCHIAL CHURCH COUNCIL OF S. ALBAN THE MARTYIL HOLBORN Notes to the Accounts for the year ended 31st December 2024 RELATED PARTIES The PCC receives grants from Trustees of S. Ursula's Home. an ecclesi&8tical charity for the benefit of the Church, School and Parish of S. Alban the Martyr, Holborn. which holds as a restricted fund the assets of the fonner S..Alban's Holborn Choir and Music Trust together with legacies for the purpose of music. Grants from the restricted fund made to S Alban's to cover the cost of the Church music programme.and, from unrestricted funds, for other Church and Parish purposes. as shown in note 2 (a). Grants received in the current year were £43,852 (2023: £46,117). S Ursula's Trust also reimburses the Diocese of London for the costs of th¢ position of Curate at S Alban, Robbie W Walker, a Trustee, has, since 7 May 2023, rented I Courtficld House, a flat owned by the PCC. The rent payable of £2230 per calendar month is the unweighted average of three valuations obtained by the PCC from property consultants local to the parish being BPS London, Foxton's and Dexter's. Mr Walker is also responsible for discharging all utility bills pertaining to the flat. Members of the PCC receive no remuneration or expenses in respect of their service as Trustees. FUNDS ANALYSIS Balance Incoming Resources Transfe Gainl at Resouree Kx ended lJan 2024 Loss Balance at Investment 31 Dee 2024 UDrestri¢t¢d Funds General Fund General Legacies 838204 413658 507.914 {588.4551} 11,098 768.761 413.658 51J62 507,914 588,455 11,098 ,181420 Restricted Funds Vestment Fund Boiler Appeal Poor Fund Vicar's Discretionary 6.650 11219 (955) 5,694 11,219 30 30 8333 8333 26332 955 2S277 Endowment Fund Suggestive Legacy Parish Fabric Trust Parish Historic Trust Metcalfe Fabric Trust 33,019 30.826 68.907 760 33,778 31.536 70,493 709 1,585 183J76 187096 461,471 507,914 589 410 IS317 lJ9529Z 20
PAROCHIAL CHURCH COUNCIL OF S. ALBAN THE MARTYR, HOLBORN Notes to the Accounts for the year ended 31st December 2024 10. ANALY ISOFNET A ET BY FUND TYPE Unrestricted Restrict Endowment Total Tangible fixed assets Inveskn¢nt fixed assets 342,800 198,046 341800 385,642 187,596 Short terni bank deposits Other current set8 Current liabilities Balance of Funds 584,721 196,899 (140.047) 1,182,420 25,277 609.998 196,899 (140,047) 1,395.293 25277 187,596 11. EMPLOYEES OF PC The PCC had no ¢mployees in 2024 (2023: None). 21