2023-12-31-accounts

ChaTIty Reglstratlon No. 1135636 ST PAUL'S CHURCH COVENT GARDEN St Paul's Church Bedford St Covent Garden London WC2E 9ED THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL, COVENT GARDEN TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL, COVENT GARDEN LEGAL AND ADMINISTRATIVE INFORMATION Truste The Rev'd Simon Grigg-. Alex Campbell Maximilian della Pura Onorati Rob8rt Zampelti Tony Hogg Carol Bavin Jennrfer Hoare Josephine Buchan Elizabeth Shaw James William Blake Richmond Incumbent Churchwarden Churchw*rden Churchwarden and Deanery Synod Representative Elocted Member Elaclad Membar Elected Member Elected Member Elected Member Ele¢ted Member Mari5ha Widdas ison Cattermoule Elected Member, Treasur8r and Vice Chair. Deanery Synod Represenlalive Charlty number 1135636 Rogistered offlce and Prlnclpal Address st Paul's Church Covent Garden 8edford Stre81 Covenl Garden London WC2E 9ED Indepèndent Examiner TC GTOUP The Courtyard Shoreham Road Upper B99ding Steyning Wesl Sussex BN44 3TN Bankers National Westmin$ter Bank plc 38 Strand London WC2N 5JB SollcltOTS Mackrell Savoy Hill House Savoy Hill London WC2R OBU

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL, COVENT GARDEN CONTENTS Pago Trustees. report Independent examiner's report Statement of fina￿181 activities Balance sheet Cash fflow statement Notes to thè aecounts 11- 19

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL. COVENT GARDEN TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 status The PCC Is a corporate body astablished by the Church of England. The PCC operates underthe Parochial Church Council Powers Measure. The PCC is registergd with the Charity Ccmmlssion. Our Charfty Commi88lon number is 1135636. The PCC receives income from the Holy Trinity Kingsway Trust. The appointment of PCC members is govemed by the Church Representation Rules. The PCC meets throughout the year lo manage the C￿rch affairs and operates a standing commTttee IlncumbenL chUrchward￿$, Treasurer. Ben Chamberlain, as Venue Managor and Phil Hunt, as Parish Administrator). Incumbent The Rev'd Simon Grigg Asslstant Prfest The Retrd Rlchard Syms Church Ward•ns Alexander Campbell Max Lacey Robert Zampetti Doan•ry Synod Reprgsgntatlves Robert Zampetti (Safeguarding Officer) Alison C8ttemioule Elected Members Carol Bamn Josephine 8uchan Jennrfer Hoare Tony Hogg Elizabeth Shaw James Riehmond (appointed 3010412023) Mansha Widda8 (freasurerlLay Vice Chair} Co￿pIed Members Nicolas Gallagher Margaret Houston (Children's Champlon) Indepondent Examiner TC Group Th8 Coutyard Shoreham Rd. Upper Beeding Steyning West Suss&x BN44 3TN

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL, COVENT GARDEN TRUSTEES. REPORT {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2023 Sollcitor8 Mackrell Savoy Hill House Savoy Hill London WC2R OBU Alms and Organlsatlon The aim of the PCC 1$ the promotion of the Gospel of our Lord Jesus Christ according to the doctrines and practice5 of the Church of England. The PCC cooperates wth the Incumbent in prornoling in the Parish. the whole mission of the Church, pastoral, evangelislie, social and eeumenical. A values statement accompanies this report. Rlsk Assessment The PCC corkducts regular Risk Assessments, and is confident that it has reacted appropriately to the risks it encounters. Financial Risk is minimised by robust accounting procedures, and strict procedure5 forthe counting and eipt of morbies. Burglary is a major risk and the PCC has undertaken a number of preventative measures. Fire protection is w811 maintained and all staff ar& Fire Marshall trained. Health and Safety has been risk assessèd and ALL staff are FITSI Aid trained. The Incumbent, Venue Manager and Caretaker regularly review the premisès for other Health and Safety issuas and lake approprialo remedial action. The Incumbent is DBS checked, a$ are any other adults who have un8upeNised access lo children. The Incumbent has received training on Safeguardlng Lead and Safer Recruitment We have fully complied with the Diocesan Safeguarding measures for children and vulnerable adults. All outside groups that Use the premises and involve children musl adhere to our Safeguarding Policy. Chlldrnn and Vulnèrable Adufts Protection and Safeguardlng The PCC has complled wSlh the duty under secllon S of the Safeguarding and Clgrgy Discipline Measure 2016, in relation lo having due regard to House of Bishops, guidance on safeguarding children and vulnorable adults. All members of the PCC have received Diocese of London training on Safeguarding. Church Attendance Average Sunday attendance was 6 children and 43 adults and 26 people onlino. 11 is diffic￿1 lo assess h¢)w many k￿pIe watch 'per camera,. bul we assume 1 person per camera givlng us an In person and on line presence of approximately 75 people, slIgh￿Y up on our pre-pandembc numbers.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL, COVENT GARDEN TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 OvaNlow of Church a¢UVI￿es The Church was built in 1633. the first church to be built and dedicated forAnglican worship since th8 Rafonnation. 11 was formally dedicated in September 1638 and regularly èstablished as a parish by Act of Parfiament in 1e60. It has ￿ntinUed as an Anglican place of worship since then. In 2023, w8 hosted: 52 Sunday Eucharlsts We￿ corKlucted In church. 10 Holy Week services 47 weekday Eucharists were conducted. 10 Chor¥1 Evensongs were celebratsd. 1 Baptism was conducted. 7 Funeral SeFwces were conducted- thi5 does not indude funerals at local cr8matoria. 24 Mamorial services were conducted. 11 carol services 4 other services were wnducted. 5 School Masses and SeNices were conducted. We therefore conducgd 193 religiOU8 events in 2023. In addition, we conducted 22 carol concerts 191 concerts 39 theatrical perfomiances. 40 Lunchtime concerts 12 garden events e days of filming 2 workshops 14 other events We conducted approxlmately 326 other events Wè conducted a total of a roxlmatel 619 evènts In 2023 Public Beneflt In 2023. we continued our dose links wth th9 local community- particularfy with Shaftesbury Capltsl London. {th8 Owne￿ of the Piazza), the Covent Garden Communlty Assoclatlon, the Covent Garden Area Trust an¢J others. The Incumbent is Vice Chair of Govemors of St. Clom8nt Danos School, and visiting Priest. He undertakes a number of duties for the school, including InlerviewSng potenllal staff. deals ￿th dlsclpllnary matters, has a weekly meeting wth the Headt8acher, and takes a weekly assembly. We also conduct School Masses regularfy. and host a number of otrer school everns, such as Ihe Eastei Semce. Subsidies via discounts fur organisations holding charitabla events= total event donations waived £17.790 for 32 events in 2023. The PCC made £5000 of ￿l￿tt grants to Charities from PCC fvnds in 2023. Special Collections for various charities raised £15.452 which included £4,243 raised in bucket coll8ction$. We provided various groups th freg or subsidised rates to rehears& or maat free of eharge including the Royal Theatrical Fund Choir, Drama for Healing, Wallfrog . Relish Theatre, The Pearfy ￿n9$ and Queens of London and the London Film School. We also hosted a paty for His Majesty the King's Coronation and in 202212023 we SUPFX)rt8d Breast Cancer UK by hosting a strawberry lea, Mustard Seed relief missi¢)ns via the Christmas Love In A box campaign and a Fundraisin9 concert for One Brxty One Faith (Pride weekl. We also host a'community Payback Scheme.. where we prothde workfor offenders sentenced to community orders and lo help them develop now skills. We also prowded 4 'Assemble Play and 3 'Sharkey and George, Sunday family play days.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL, COVENT GARDEN TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Future Plans In 2024 we will continue lo ty lo rebuild our numbers, continue our YouTube offering and continue the massive resloralion programme of the church building. Fabrlc Report In 2023, the restoration of the Pulpit was begun Ilhis will be r8tumed in 2024). The Altar Rail$ were Completely restored, re-gilded and a new kneeling rail ordered Ilhis will be delivergd in 2024). We also commissioned a new screen lo hide the tech area. The former'lris, office was complgtaly restored and had a new eco-friendly heatinglAC unil installed. The Font was restored. Restoration work on the watchman'5 hul was completed. We began a refurbishment of the upstairs toilets (lo be Gompleted in 20241 The eaves on thè north side of the church were restored and repainted. New lighting units and sound equipmer¢t leco-friendly) were installed. The East Portico clock was r&stored. Drama For Heallng We host the Drama for Healing group, which helps women trafficked irrto human slavery and subsidised the group by £165 a week. We were graally honoured lo host His Majesty the Klng and Her Malesly thfr Queen fgr a visit Shortly after the Coronation to celebrate the work of Drama for Healing, and the Rector and his husband w8re honoured to be invited to the King's Coronation Cgncert at Windsor Caslle. FlnanGlal Review The lotsl costs this year were £839,836 (2022.. £619,77n wth the income of £882,71612022'. £757,33fj1 giMn9 a surplus of £42,88012022'. £137,559}. £1,480,344 has been catri8d forward in resèrves to 202412022.. £1,437,464), of which £10.618 Is resknictgd funding {2022. £4.0021. We are fortunate to have significant reservés of £1.4m whlch will be used lo maintsin the fabric of the building and sustaSn the long term future of the Gharity.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL, COVENT GARDEN TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Rgsepie8 pollcy Contin se It is the aim of this charilylo retain sufficiert reserves lo cover 0￿rating expenses of the building, grounds and staff for a period of hvefft months. Our income fIuctuales seasonally. Should there be a perfod of zero ineome generatlon it could take this length of lèad time to recover. This is currenuy estiTnatad at £450,000 lo run as a going Goncem. 11 is less if aclivtbes are t￿ed to go domiant for a lockd¢)wn. In addition. we hold a contingency reservè for emergency rep8iT5 to th8 fabric of the buildlng of £100,000. It should be noted that the building and contents are Insu￿ bmth Ecclesiastical Insurance. The policywould provlde cover in the event of damage due to accldent, flood, fire and acts of terrorism and includes £460,OOQ contants cover. It is therefore our policy to hold a minimum of £550,000 in accessible reservos of whlch 50% should be accessible within 30 days. At the end of 2023 we hold a total of £1.480,344 n81 in fund8 of whi¢h £10,618 is restricted. Thls Is a¢¢essible in cash wthin 30 days. Desi n8ted Fund In addition we have designated £100.000 in reserves forthe repair and rodecoration of the eaves.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL, COVENT GARDEN TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Tru$t¢e$' respon$Iblll￿eS in relatlon to the accounts The tfuslees are responsible foT preparing the Trustees, Report and the accounts in aecordance wth applicable law and United Kingdom Accounting Standards (United lQngdom Generally Accepted Accounting Praclicel. The law requires the trustee51o prepare a¢counts for each financial yearwhich give a true and fair view of the slate of affairs of the charity and of the incoming re50urce5 and application of resources, ineluding the Income and expenditure. of the charity for that year. In prèparing these accounts, the trustees are required lo.. select suitable accounting policies and then apply them ¢onsislentty,' rknserve the methods and prfnclples In the Charilies SORP., makejudgements and estimates that a￿ reasonable and prud8nt,' and prepare the accounts on the going concern basis unless it is inappropriate to prèsume that the charity wll continue in operation. The trustees are responsib5e for keeping adequate accounting records that ￿ls¢10$e ￿th reasonable accuracy at any lime the financial position of the Charity and enable them to ensure that the accounts cornply wf(h the Charities Act2011. They are also responsible for safoguarding the assets ofthe charity and hencefor taking reasonable steps for the prevention and detection af fraud and other irregularities. Approved by the board on 17 April 2024 On behalf of the board of trustees Tha Rav, Trustee Imon Gr5gg

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL, COVENT GARDEN INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL, COVENT GARDEN I report lo the Charity trustees on my examination of the accounts of the above charity for the year ended 31 December 2023. Rèsponslbllltlo$ and basls of r8port As the charity's tTUStees. you are ￿sPonSIbl9 for the preparatlon of the accounts in accordance ￿th th8 requirements of the Charities Act 2011 l'lhg Acl'l. I report in respect of my examination of the accounts carried out under section 145 of the 2011 Act and in Carrwng out my examination. I have followed all the applicable Dire¢tion$ given by the Charity Commission under $8clion 14515}Ibl of the Act. Independent examlnerfs Statement The charitls gross income exceeded £250,000 arKI l am qualified to undertake the examination by being qualifEd member of the Association of Chartered Cerbfied Accountants. I have completed my examination. I confimi that matellal matters have come to my attention in connecilon wilh the examinab'on which gives me cause to beliève that in, any materfal respect.. the accounting records weré not kept in accordance with section 130 of the Charities Actr. or the accounts dd not accord with the accounting rocords., th8 accounts did not compty wth the applicable requirements ¢onceming the fomi and content of aeeounts set out in the Charities {Accounts and Reportg) Regulations 2008 other than any requirement that the a¢￿Unts glve a Irue arKI fair Mew which is not a rnatter Consid8r￿ as part of an independent examination. I have no ¢on¢ems and have come across no other matters in connection with the 8xarnination lo which attentlon should be drawn in this report in order to enable a proper understanding of the accounts lo be reached. ToGf Mark Cumrnlns FCCA FCIE On behalf of TC Group Office- Steyning, West Sussex. Dated. l.1......4p￿i. irt(t

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL, COVENT GARDEN STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestrlcted Rostrtrted funds funds 2023 2022 Income from: Donations other trading activities Investment in¢ome Note 249,148 240.120 373.020 20,428 269.576 240.120 373,020 273,951 205,598 277,787 Total Income 862,288 20.428 882,716 757,336 Expondlture on: Raising funds Charitable activities 110,640 715,37S 110,640 729.196 99,621 520,156 13,821 Total exp8ndltur& 826,015 13,821 839,836 619,777 Net Incomellexpenditure) 36.273 6,607 42,880 137.559 Transfer b8lwoon funds 15 {91 Net movemgnt In funds 36,264 6,616 42.880 137,559 Reconcillatlon of funds Total funds brought forward 16 1.433.462 4.002 1 N37N64 1,299,905 Total funds Garrfpd forward 16 1,469,726 10.618 1.480,344 1,437,464 The statement of f5nancial activitiès includes all galns losses recOgnis￿ in the period. All income and expenditure derives from ontinuing adivities.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL, COVENT GARDEN BALANCE SHEET AS A T31 DECEMBER 2023 2023 2022 Note3 Currant assfjts Stock DebtrKs Cash at bank and in hand 2,425 132,939 1,551,667 1,149 162,812 1,436,852 11 1,686,931 1,600,813 Creditors.. amounts falling due wlthln onè year 12 1206,5871 1163.349) Not current assets 1.480.344 1,437,464 Net assets 1.480.344 1.437.464 The funds of the chaTIty: Restricted funds 16 10,618 1,469.726 4.002 Unreslricled funds 1,433,462 1.480.344 1,437,464 The accounts were approved by the 8oard ¢n 17 Aoril 2024 The Trustee Igg ChaTIty number 1135638

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL, COVENT GARDEN CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Cash flow$ from opvafjng aetlyltles Net movement in lund$ 42,880 137,559 Ilncrease)Idecrease in stocks Ilncrease}Idecrease in debtors Increaselldecreasel in creditors Net cash usgd In oporating activities 11.2761 29.873 (206) {53,919? 25,565 43,238 114,715 108.999 Change In cash and cash equivalents In the year 114.71S 108,999 Cash and cash 8qulvalents at the beglnnlng of th8 year 1,436.852 1,327,B53 Cash and cash equlvalents at the end of th& year 1,551.567 1.436.852 io

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL, COVENT GARDEN NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 Legal ststus of charltabl• company The Parochial Church Council of the EcclesSaslical Partsh of St Paul, Covent Garden is a charity. The charity's registered number and office address can be found on the Legal and Administrative Informatlon page. Accountlng pollcles 11 Basls of proparatlon The Parochial Church Council of the Ecclesiastical Parish of St Paul, Covent Garden meets the definthon of a public benefit entity under FRS102. Assets and liabilities are Instially recognised at historical cost or transaction value unless otherwise stated in thg relevant accounting policy nole{s). The financial statements have been wepared in accordance with Accounting and Reporbng by Charities.. Statement of Recommended Practice applicable lo charities p￿parIng their accounts in accordance wlth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)18ffecbve I January 2015) and in a￿rdance wth Church Accoundng Regulations 200e. The financial slalèments are prepared in 8teNing, whieh is the functional currency of the charity. Wknnetary amounts in these financial statgmenls are rounded to the nèarest pound. Going concern After making appropriate enquiries, th8 truslees have a reasonabl& expectation that the Gharity has adaquate resources lo continue in operational existence for the foreseeable future. Thore ale no material uncertainties about The Parochial Church Council of the EcclesiastiGal Parish of St Paul, Cov8nt Garden'8 ability to continue as a going concem. 2.3 Income Al income is induded in the Slalemenl of Financial Activities when the charity is legally enliued lo the income. it is probable the income wll bè ￿ceIVed and the amount can b8 quantified with reasonablè accuracy. During the period there was a change to revenue recognition, see note 4 for details. 2A Expgndlture and bas18 of apportionlng Gosts Expenditure is accounted for on an accruals basis with the irrecoverable elemènt of VAT inGluded wth the item to which it relates and has b￿n ¢la$sified U￿er hoadings that aggregate all costs related lo th8 category. Charitable actiwties comprises all expenditure direcdy relating to the objectives of the charity. Governance ￿$1$ {included ￿thIn Support cestsl COM￿Se$ all costs ass￿ated wrth cons￿lUtE0naI and tatulory requirem8nls wth which the charity must Comply. li

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL, COVENT GARDEN NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng Pollclgs (contlnued) Pensions The charty operates a NEST pension scheme. Contributions ar8 charged lo the Statement of Fin8ncial Activities as they arè Incurred_ 2.6 stocks Sleek is valuéd al the lawer of cost and net r&alisable value. Debtors Trade and other debtors are re￿gnised al the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.8 Cash at bank and In hand Cash al bank and in hand includes cash and short tami highly liquid invèslmenls. The trustees seek to use short t8rm deposits to maximise the relum on monies held at the bank and lo manage cash flow. 2.9 CTrditors and provlslons Creditors and provisions are r8cognised where the charity has présentobllgalion resulting frryn a past event thatwill probably result in a transfer of fundg to a third party and the amount due to setu8 the obligation can be measured or estimated reliably. 2.10 Fund Accounting Unrestricted funds are to be used in accordance with th8 charitable objectives at the discretyon of the Trustees. Restricted funds are lo ba LEsed for particular restricted purposes within the objectives of the charity. Restrictions arise when specified by the donor or when fvnds are raised for particular restricted purposes. 2.11 Judg8mgnts and koy Sources of esllmatlon uncertalnty In the application of the charitls accounting policies, the trustees ar8 required to make judgements, eslimales and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relèvant. Actual results may differfrom these estimates. The estimates and undertying assumptions are reviewed on an ongoing basi5. Revisions to accounting estimates are recognised in the period in which the estimate is rewsed. Th8 trustees do not cons1der that there are any erilical estimates OT areas of judgement that need lo b8 brought to the attention of the readers of the financial stalemenl$. 12

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL, COVENT GARDEN NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Incom8 from donations Rgstrlcted Unr•8trleted funds funds 2023 2022 Planned gI￿ng Collections Appeals and donations Gift Aid tsx reclaimed 22.576 23.611 196.363 6.698 22,576 43.939 196,383 6.698 18,425 43,548 173,916 38,062 20.428 Totsl Income from donations 20,428 249,148 269,576 273,951 In¢omo from othertradlng actlvlties Restrlcted Unr¢$trlctsd funds funds 2023 2022 Car pafking rentals Other income cket Income Bar income Votive candles 35.284 51,375 42.132 106.375 4.954 35.284 61.376 42,132 106.375 4,954 26,092 54,857 8e,230 54,638 3.781 Totsl incomo from other trading activities 240.120 240,120 205,598 Note on change In revenu8 rocognltlon: a portion of ticket income 15 collected on behalf of a third party, and is not attributable to The Charity. In 2023, incom& is stsled net of amounts not attributable to The Charity, and this wll be Ihe case forfuture periods. Investment Income Restrict¢d Unre8trictsd funds Funds 2023 2022 Licenca lees Interest recelvable 355,851 17.169 365,861 17.169 275,393 2,394 Total investment income 373.020 373,020 277,787 13

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL, COVENT GARDEN NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Total expendlturo Oth¢r Costs Total 2023 Total 21Y22 eO8ts Expondlturo on rnlslng funds Costs of raising donations and grants 110.640 110,640 99,621 Expendlture on charltable acuvltles Activities undertaken dIrec￿Y Supwrt costs 198.654 481.966 48,586 680,610 48.586 491,373 28,783 Total charitable activities 198.654 630.$42 729,196 520,156 Total Expenditu 198,654 641.182 839.836 e19,777 Analysls of support costs Iln¢ludlng Governance costs) Total Total 2023 2022 General office and admlnlslralion Governance costs.. Independent examiners feès 43.666 24.343 4.920 4.440 48.586 28.783 14

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL, COVENT GARDEN NOTES TO THE ACCOUNTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Compardtlve Funds- Stst8ment of Flnanclal Actlvltles for the year ended 31 DeGember 2022 Unrostrfcted Rastrlctsd funds tunds 2022 Income from.. Donations c>ther trading activ￿eS Investment income Nots 258.499 193,598 277.787 15.4S2 12,000 273.951 205,698 277.787 Total Incom• 729.884 27.452 757,336 Exp8ndituré on: Raising funds Charitable activitigs 99.621 504,704 99,621 520,166 15,452 Totsl expgnditure 604,325 15,452 619,777 Net incomellexpendlture) 126,569 12,000 137,559 Transfer be￿en funds 12,874 {12,874) Net movement In funds 138.433 {8741 137.559 Reconclllatlon of funds Total funds brought ft)rward 1,295.029 4,876 1,299,905 Total funds carried forward 1,433,462 4002 1,437.464 15

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL, COVENT GARDEN NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Trustees This year there were church expenses of £10,028 {2022.. £6,432} rèimbursed lo Twstees. This includes £4,701 paid to Josephine Buchan of which £4.674 was for paid work assists'ng with business development. None of these expendtture reimbursements were outstanding at the year end {2022'. £nil)- London Historic, of whi¢h Max Lacey (tnjsteel is a diraclor. provided services tothe chority tolalling £11,840 (2022.. £26,146). Thas8 transactions were al arms length. Employee5 Number of employeas The average monthly number of employees Iheadcount) during the period was.. 2023 Numbar 2022 Number Administration, mark8ting and commercial Employment Costs {Includlng casual staffj 2023 2022 Wages and salaries including social security costs Other pension ￿$t$ 194.205 4.449 156,786 3,462 198,654 160,248 No employee received £60,000 or more during the period12022'. nlll. 10 Taxatlon As a charity, The Parochial Church Council of the Ecclesiastical Parish of Sl Paul, Covent Garden is exempt from tax on inGorne and gains tu the extent that these are applied to ils charitable objeels. 11 Debtors 2023 2022 Trade debtors Other debtors Prepayments and accrued income 119.932 12.832 175 141,451 19,031 2,330 132.939 162.812 16

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL, COVENT GARDEN NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 12 CTeditots- amounts falllng due within on8 year 2023 2022 Trade creditors Acerual$ and deferred income 34,290 172.297 28,545 134,804 206,587 163,349 Creditors amounts falliro due within one year Includes deferrèd Incomé.. 2023 2022 As al 1 January 2023 Amount r8]oaS￿ to income Amount deferred in the year 124372 {124.8721 167,087 88,839 188,839) 124,872 As at 31 December 2023 167.087 124,872 13 Penslon and other post-rntlrement beneflt commltments Defined contrlbution 2023 2022 Contribuknons payable by the charfty for thé périod 3,462 At 31 December 2023 contributions of £nil were OLrtstanding (2022.. £nil). 14 ComMith￿nts undor opgratlng leases At 31 DEceFnber 2023 th8 charity had total commitments under non-cancellable operating leas9s as follows.. 2023 2022 Expiry dale.. Less than one year Within and five year8 2,620 10.400 3,649 14,050 13,020 17,699 17

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL. COVENT GARDEN NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 15 Restrfctsd funds The income funds of the charity include reslrrcled funds comprising the followng unexpended balance8 of donations and grants held sp8cific purposes.. Movement In funds Balance at 1 January In¢oming Resources 2023 resources expended Transfer Balance at 31 b•￿e0n December funds 2023 Sl John Drury Lane Trust Collections 708 3,294 708 9,910 20,428 {13,821) 4.002 20.428 113.8211 10,618 st John Drury Lane Trust- The fund is to be applied for th8 restricted purposes of the Trust. Collections- The Church receives MC￿eY towards special eolleetions which il then pays as a donation. 18

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL, COVENT GARDEN NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 16 Analysls of not assots between funds Unrestrlcted funds Restrlcted funds Total Fund balances at 31 December 2023 are represented by.. Current assets Creditors.. amounts falling due wthin one year 1.676.313 (206,587) 10.618 1,686.931 {206.S87} 1.469.726 10.618 1.480,344 Unrestrlcted funds Restrictad funds Total Fund balances at 31 December 2022 ore represanled by.. Current assets Creditors.. amounts falling due within one year 1,598.811 4,002 1.600.813 {163,3491 (163,3491 1,433,462 4.002 1.437,464 Included in tre abovefor both years IS £100,000 designated funds, set aside forthe rapairand redecoratio of the eaves. 17 Ultlmats controlllng party The charity was under the control of the Trustees during the pericd under review. 19

Document Activity Report

Document Sent

Fri, 19 Apr 2024 11:03:29 GMT

Document Activity History

Document history shows most recent activity first

Date

Activity

You can verify that this is a genuine Portal document by uploading it to the following secure web page:

http://tcgroup.accountantspace.co.uk/messages/VerifyDocument