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← The Parochial Church Council Of The Ecclesiastical Parish Of St Stephen's Church, South Lambeth

2023-12-31-accounts

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Glvlng fn church Increased frcmn the prevfous year, tr￿t there was a large drop in standlng order Ivlng as expected because of departures of members of the con8re8atlon. Rental Income ContIrK￿s to provlde a substantial part of our regular inc￿e. Apart from the expendlture ￿ the tx)Ilers and utlllty bills, our main (xrtgolng for 2023 was the parlsh share pald to the Dlocese of £15,CO) and we spent a little more cffl repairs and malntenance to deal with sorne electrfcal Is$￿. Our only dlrect employee Is cleaner and we contrlbuted half the cost of the y￿th Pastor to St Mark, . As requlred by church law, there was a quinquennial review of the church l)ulldln8 and the architect has advlsed that In partlcular we need to do work on the church roof. Thls wlth ancillary works will use up a very large wop(xtlon of the sum held In investments. We contlnue to provide free of charge office space to Splnnaker Trust or thelr staff who move between local primary schools, as this is a work we also support flnanclally. We provlde space at a modest Ilcence fee for Change for Good Communfty Chaplaincy Llmited, a Chrlstlan based charlty working to support former pri%Jners. Other groups using the church building for regular meetings include Alcohollcs Anonymous and Cancer Don't Let It Wln. St Stephen's has continued our policy of using a proportlon of our fnccwne from the prevlous year to support UK and overseas Christian work. In 2023 we gave funds representlng one tenth of our Inc(xne for 2022, plus £1 Crfxl set aslde the prevlous year, totalllng £6, 300. St Stephen's remalns closely Involved wlth St Ste(then's Church of England Primary School, witTri Rev Sam Whittington from St Mark's givlng regular assemblles untll he from St Mark's and slnce then Roger Reld has taken on this role, al¢Xg wlth chaplalncy work at St Gabrlel's. Flnanclal Pollcles St Stephen's maintains various financial policie5 to safeguard the flnanclal wellbelng of the church. These Include: Reserve5 Polky: Our alm is to have sufficient reserves to cover our antlclpated needs over the year, wfth some allowance for emergency works. The categorfes and amcAJnts kept In reserve are shown In our annual accounts, arKI are regularly revlewed by the Treasurer on behalf of the PCC. Investment Pollcy: We are recelvlng professlonal Investment advfce for the monies received from the sale of land, and have an investment commlttee to oversee the management of these funds. Rlsk Assessment: The PCC regularly monltor flnanclal and personnel aspects of church Ilfe that requlre rlsk cover, and ensure that approprlate Insurance Is In place. Slgned behalf of the PCC Rosallnd Halllfax St Stephen'5 Church Treasurer

ST STEPHEWS CHURCH, SOUTH LAMBETh Ind•p•nd•nt Ex•mln•rf• R•port to th• Trust•M of 8T STEPHEN'S CHURCH, SOUTh LAMBETh I r8PCfft to Ihe Tru8tee8 on my ex4mInat￿ of tho financi81 statwnents crf the PCC for the y•w ended 31 Docom￿ 2023, ich are sel iJJt ￿ pages 5 to 13. R•sp•ctlv• r•sponslblllll•s of •nd •xamln•r The chantyl trusts￿ ar• rn•poMible for the weparats'on of th• financial thtements. The charrtys trusteés CCffl8th that audh18 not rnqulrnd ICY thls yur undw s8cl1￿ 144 01 th• Chartllos kt 2011 (Ih• Act) and Ihat an Indopondwrt HaviThJ Satisfied that the charity18 not wbject to w<t undw c¥ity l•w and is 't40 lor independanl •Y￿nIn•tk￿. It is my rosponsibility to: oxwnine tho fkwndal •tstwn•nts {und8r •8clkn 145 01 the Act); to folkny th• wocodur88 lald In the G￿er81 DIr￿ikTh given by the Charty C(Mnmi38icYw8 (under 8•Ction 1451SMb) d Ihe Act): to state whether pcular mattfn have cc¢n8 to my •ttanlKffj. B•sl• of th￿p￿dent •x•fflln•rn' rnport My exarninats¢￿ was carried oul In •ccordanc• genernl Dkecoons glvon by the Charlty Ccnmknsth. An oxamknat indudos a fevitr•V of I￿ accouniing r•cryd8 kept by lh• chjrity and • crynpaflson of the flnandal Slatern￿ts preS￿ted th thoM roctyd8. It a180 Incaudos C￿81d0r8kn of ary unus￿1 ftom8 or 018d¢)8urn kn the flnandal $tatOm￿ts. s•ekirKJ expl8natDons frorn the tru8t888 conc8miw any Such m8tw8, The proc•dur•8 undértaken do not wovkjé al the ovidonce Ihat w(xJld be requlred in an audK and cons8quenty no opin1c￿ is given as to whether tho finwKld 8tsknM￿1j esont a 'lrue and fairf view arwj lh• reF￿rt is limrted to thosa niattefs Set ¢Jut in Lt)e sto16m￿l bel¢)W. p•nd•nt •xamln•r8' •1•t•m•fti Th• main bank acc(wnt now ha8 banking s•t up. But Pa￿ can be made ith crn 81gnaw. Tho stsndard safeguard of h4￿ng dual aUtt￿￿￿￿OnI thorelor• mIs￿n9. ccMn•Cik￿ rny ownlnalkn, M othw m•ttw •xcW tr lh• atTh• ha• com• to my •tknlkn: (1) *fikh gives me r•asonablo Cau￿ to bolleve Ihat. in any maknial re8pKt. rwuirwnents.. {a> to k88p acco￿1n9 r￿OrdS in acoxdance ¥￿th section 130 of the Art" and (b) to finwaal statements which xcord Ihe accounibng roc(￿08 arKI cixnth wlth the acC￿ntIng r8qulrements ol the Act and the Ch8ritk98 SORP have nol boon rnet: (Y (2) to vhlid), in my opinion, att•nbon 8hwkl b• drawn in ￿ to a ycyr of the financiat 8tatèments. Mwk HWM FCCA He￿rn 88nnett Ltd Chartwed C8rtifi•d AcC￿nI8n18 9 Bridge Street Walton on Tham rrey KT12 1AE Date: I q PI4Y 3021tr

ST STEPHEN'S CHURCH. SOUTH L￿￿BErm BALAIICE SHEET AS AT 31 DECEMBER 2023 2023 2022 FIXED ASSET8 Tanglbl8 fixed 8880ts 5.621 17 CURRENT ASSErs InvestM￿t3 Debtors Cash al bank & In hand 10 432,382 7.792 22,432 407,733 7,904 75.458 12 462,606 491,095 CREDITORS: knounts fllllng du• vthhln OTr• y•w 13 4,833 3,901 NET CURRENT ASSETS 457.773 487.194 NET ASSETS 463,394 FUNDS OF THE CHARrrY Genwal lund DeS￿nated funds Restr￿ funds 442,314 18,(X)o 462,405 19,CXXJ 14 15 TOTAL FUNDS 463,394 487,211 Approv•d by th• Parochlal Church Councll on IS Mhy 202Q and signed on rts beha Penny Efvln Churchwardon Rosallnd Hallllax Treasurer Reglsterwj Charlty Number 1138630 The nots8 ￿ pag88 7 to 13 form part of these flnanclal Statements.