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

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