Charlty number.. 1138630 THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST STEPHEN'S CHURCH, SOUTH LAMBETH known as ST STEPHEN'S CHURCH, SOUTH LAMBETH TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2026
ST STEPHEN'S CHURCH, SOUTH LAMBETH CONTENTS Page Rerenc0 and Admlnlstratlve Details of the Charltyj It8 Tru8teos and Advl8ers Tru8tee8' Report Indopendent ExamIn6S Report Statement of Flnanclal Aetlvltl•s Balanco Shagt NotB8 to the Financial Statements 9-2
ST STEPHEN'S CHURCH. SOUTH LAMBETH REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2026 Trustees Rev Canon Stephen Coulson, (Priest) Irasigned 30 November 2025) Rosalie Grant, (Church Warden) Penny Elvin , (Church Warden until 25 May 20251 George Jarnes Wilson, (Elected PCC member) lappolnted ChLtrGh Warden 25 May 2025) Nusi Amade-Jaii, (Deanery Synod Repl Rosalind Halllfax, (Elected PCC memberrrreasurerlEle¢toTal Roll Officer) Eric Mamah-Djiman, IElected PCC memtJer} Vanessa Reid, (Elected PCC member) Emilia Quansah, (Elected PCC memL)erlPCC Secretary) (appointed 25 May 20251 Yelund& Esan, (Coopted PCC member) lappoinled 12 July 2025) Chaylty reglstsred numbgr 1138630 R8glstored offlco 19A Richborn8 Terrace London SW8 IAS Independent Examlner TWP Accounting LLP Chartered Accountants and Statutory Auditor8 The Ord Rectory Church Stro6t Weybridge Surr8y Kf13 8DE Page 1
ST STEPHEN'S CHURCH, SOUTH LAMBETH TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 The PCC members present their annual report logether with the financial statements of th& Sl Stephen's Church, Soulh Lambelh for the year 1 January 2025 to 31 December 2025. The Annual Report serves the purposes of a PCC members report. The PCC members confirm that the Annual Report and financial stat8ments of the charitable PCC compty with the current slalutory requiremonts, the requirements of the charitable governing document and the provisions of the Slalemenl of Recommended Practi ISORPI applicable lo charities preparing Ihoir accounts in accordan with the Financial Reporting Standard appl¢cable in the UK and Republic of Ireland IFRS102) leffectwe 1 January 20191. The PCC Standing Committee comprised th6 Incumbent {Rev Stephen Coulson), Church Wardens {Rosalie Grant and Penny Elvinl and Treasurer (Rosalind Hallifaxl. In May 2025 Penny Elvin was replaced a8 Church Warden by George Wilson. Penny Elvin 8tepped down as church warden bec8use of terminal illness and passed away in July 2025. Her years of dedication to St Stephen's and all she did in her Tole as church warden, particularly in relation to building management and gener81 administration, and her care for others are very much missed. St stephen's had 29 people on the Electoral Roll as at 30th April 2D25, up from 28 at the end of April 2024. Objectlves and actlvltlès a. Poll¢les and obJ•ctlvo8 st stephen's Church South Lambelh PCC was responsible for supporting the Priest In Charge, Rev Canon Stephen Coulson. in promoting the parish and the mlssion of St Stephen's Church to Welcome all, Love Jesus, and Make Him known. Rev Coulson was also vicar of our neighbouring parish church. St Mark's Kenninglon. He retired on 30 Novwnber 2025. The PCC is also responsible for mainl8ining the Sl Stsphen's church building at St Stephen's Terrace. SW8 1DH. In setting objectives and planning for activities, the PCC member8 have given due considerallon to genaral guidance published by the Charity Commis8ion rèlating to public benefll, Induding Ihe gvidance 'Publi¢ benefit running charity (P82)'. The PCG is committed to welcoming and enabling as many people as possible to WOTship as part of our church famity, and to be active members of the St Stephen's church family. Th& PCC supported the priest in charge creating church services that involve as many groups as possiblts across our chuTch famlly. We also support midweek small group, and regular prayer meetings and other events joinlty with St Mark's Kenninglon. b. Strat8gles for achlavlng oblectlv88 Our regular Mothers Union meeting on Thursday evenings continues and is well supported. W8 s0 have activities reaching out to the community including a monthly ¢off8e m¢ming on Saturdays and table tennis on Tuesdays. At Christmas we go carol singing aiound the parish. We use Ic1 WhalsApp groups and nettvtsrks lo invite people into our activities. Roger Reid continues as joint Youth Pastor lo St Stephn's and St Mark's. th employment costs being shared equally but now also supported by the Diocese of Southwark 3$ part of ils Flourish prc¥ecl bringing together schools, churches and families of pupils. Page 2
ST STEPHEN'S CHURCH, SOUTH LAMBETH TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2025 Oblectlv8s and actlvltles Icontinuedl c. ActlvStl68 undertakèn to ach16vè obloctives The priest in charge (until his r6tirem6nll, the curate of St Mark's (Aèx Mulyaba) and PCC plan activities throughout the year that wlll support Sl Stephen's Church mission slalemenl of Welcoming all, Loving Jesus, and Making Him known. We aim to enab people to develop and live out their faith in Jesus ChTlSt as their Saviour and Lord in their day-towday lives through being ab16 to worship together and learn about God's plan for Christian living through the preaching of the Bible as God's authentic Word. We also support practical Christian pastoral care through our thurch activities, supparting and providing oflice space for Spinnaker Trust in their work with local schools, silPPOrting a wide range of UK and overseas missionary activities, and enabling other church communitie8 and charities with a Christian ethos Io Tent our buildings for their own worshlp services and other adivilies. In addition, we reach out to our local Eommunity with space for meetings and joint 8Ctivtties. d. Maln actlvltles undertaken to furthor the charfty's purposos for tho publlc beneflt The main activity is the holding of regular church 8eTvlces (including Sunday School) and prayer meeting8. Achlovemonts and pgrformanco Maln achievements of the charlty We conlinL¢e lo hold regular seNices and provide pastoral care to church members, as well as organlzing events which build us as a community and reach out into the wider community. Flnanclal rèvl•w & 2025 R•vl•w Direct givlng has beet) variable w(th various changes In the congregation and colloclions at sewices are low. We are more than @ver raliant on ranlal incoma from churches using our building and from music rehearsals. We have. however, benefited from a reduction in our utility bills when our contracts wara renwied in Mard) 2025 with new providers. We dTew down £1 S,000 from our investment funds earfy in the year lo cover the c05t of maintenance work for the roof and windows and this was spent during the year,. a further £20,OOJ has been drawn down against the anlicipaled costs of repla¢ing our main hall lighting and link&LI electriuty board. This amount has been d&signated within unrestricted funds and allocated to the major repairs reserve, increasing the balance from £12,000 10 £32,tKIO at the year end. The electrical works are still und@r discussion and will Tequirè a faculty frtsm the Diocese. b. Golng concèrn Aftor making appropriate enquiries, the PCC members have a reasonable expectation that tha Gharity has adequate resources to ¢ontinue in operational existencg for the foreseeable future. For this reason, they continue lo use the going concern basis in preparing the financial slalements. Further details regarding the adopt of the going concern basis can be found in the accounting policies. c. ReseN•s pollcy Our alm is to have sufficient reserves lo cover our anticipated needs over the year. with some dlowance for emergency works. The categories and amounts kept in reserve are shown in our annual accounts, and are regL¢larty reviewed by the Treasurer on beha5f of the PCC. Page 3
ST STEPHEN'S CHURCH, SOUTH LAMBETH TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2025 d. Investment pollcy We are receiving professional investment advice for the monies received from the 8ale of land, and have an investment committee to oversee the management of these funds. 8. Rlsk o$ses$ment The PCC regularly Monit financi81 and personnel aspects of Church life that reqL¢ire risk cover, and 8nsure that apprq)rial8 insurance is in plac&. Structurey governance and managomgnt a. Constltutlon si stephon's Church, South Lambeth is reglslered as a charity under the Parochial Church Council Powers Measure119561 as amended and Church Repr&8entalion Rules. b. M•thod8 of appolntmont or oloctlon of Trustee8 The management of the charity is th@ r8SPDnsibility of the PCC members and Church W8rden8 who 8r6 alecled and eo-DPted under the terms of the Church Representation Rules and Church Wardens, Measure of the Church of England. e. Statemant of PCC m8mbor'8 responslbllitle8 The PCC members are responsible for preparing the PCC members Report 8nd the financial statement .in accordance with applicable law and United Kingdom AOuntIng Standard8 {United Klngdom General Accepted Accounting PractKe}. Charities SORP requires the PCC members lo prepare financial statement8 for each financlal year. Under Charities SORP. the PCC members must not approve the financial statements unless they are satisfied that they give a true and fair view of the stsle of affairs of the charity and of its incoming'rèsources and application of resources, including its income and expenditure, for that period. In Preparing these financial $18tements, the PCC members are required to.. setect sui18bl8 accounting policies and then apply them consistently. observe the methods and principles of the Charhe5 SORP IFRS 1021. make judgm8nls and accounting eslimales that are reasonable and prudent. slate wh8ther appllcable UK Accounting Standards IFRS 1021 have been followed. subject to any material departure8 disclosed and explained in the financial slalemenls. prepare the financial statements on the going concern basis unless it is inappropriate lo presume that the charity will continue in business. The PCC members are responsible for keeping. ad8qU818 accounting records Ihal are sufficient to 8hDW and explain the tharitys IransaGIK)ns and disclosè with reasonable accuracy 81 any time the financial position of the charity and 8nable them to ensure that the financial statements comply with the Charitles SORP. They are also responsible for safeguarding the assets of the charity and hence for laking reasonable stsps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of PCC on and signed on th8ir behalf by.. Page 4
ST STEPHEN'S CHURCH, SOUTH LAMBETH TRUSTEES, REPORT {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2025 Rosallnd Halllfax Trustee and Treasurer Page 5
ST STEPHEN'S CHURCH, SOUTH LAMBETH INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2026 Indgpgndent Examln•rfs Report to th• Tru8tfro¥ of St Stoph•n'¥ Chur¢h. South Ctho charlty'l I report lo the charity Trustees on my examination of the 8ccounls of the charity for the year ended 31 Deeamber 2025. R88ponslbllltles and Basls of Report As the Trustees of the ¢harity you are responsible for the preparatlon of the accounts in accordance with the requirements of the section 144 of the Ch8rttie8 Act 2011 (the Acll and that an independent examination is needed.. I report in respect of my examination of the Charity's accounts carried out under section 145 of tho 201 l Act ond in cariying out my examination I have fallowed the application DIrtionS given by the Charity Commission under section 14515)Ibl of the 2011 Act. Independent Exomlnarfs Statomont I have completed my examination. I nfirM that no matters have come lo my attention in connection with the examination giving me cause lo believe.. accounting records wer8 not kept in r8specl of the charity as required by section 130 of the 2011 A¢l,' or the accounts do not accord w¢lh those recor¢ls,' or the ac¢ounls do not MPlY with the a¢coLFnting requirements conc?rning the form and content of accounts Sel out in the Charities (Accounts and reports) regulations 2008 other than any requir8menl that the account8 give a 'lrue and fairf, view which is not a maller considered as part of an independent gxaminalion. I have no concerns and have come across no other mallors in connection with the examination to which attention should be drawn in this report in order to enable a proper understsnding of the aw)unts to be reached. Thls report is made 801ely lo the charitV8 Trustees. as a body, in acctsrdan wlth Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might slate lo the charitys Truslees those m8ti@rs l am rÈquir8d lo slat8 to them in 8n Independent Examiner's Report and for no other purpose. To th6 fullèst extent P6rmittad by law, I do not accept or assum& respon$lbi1Sty lo anyone other than the charity and the charity's Trus188s as a borty, for my work or for this report. Signed.. Paul Hawksley FCA, MAAT, CTA TWP Accountlng LLP Ch8rt8r6d Accountants and Slalutory Auditors The Old Rectory Church Street Weybridge Surrey KT13 BDE Dated.. I Page 6
ST STEPHEN'S CHURCH, SOUTH LAMBETH STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2025 Re8trlcted Unrastri¢tod funds fund8 2025 2025 Total funds 2025 Total funds 2024 Note Income from: Voluntary income Church aclivilias Investments 2,332 27.054 22,182 62,866 29,386 22.182 62.865 34,904 38,480 61,181 Totsl incomo 2,332 112,101 114.433 134.565 Expenditure on., Missionary and charÈtable giving Charitable activitie8 251 9,282 72,118 9,533 72,118 7.060 104,499 Total expondltur6 251 81,400 81,651 111,559 Net Income b•fore nèt k>85e8 on Investments Disposals N8t movement in funds before other récognlsèd gainsl(10s8es} 2,081 30,701 116,972) 32,782 (16.9721 23,006 {15,670} 2,081 13,729 16,810 7.33S Other Yecognlstrd galnslllosse5): Losses on revaluation of fix6d assets {2,681) 12,684} (8.2521 Ngt movement In funds 2.081 11,048 13,129 (9161 Reconclllatlon of funds: Totsl funds brought fomar Nel movement In funds 3,266 2.081 469,212 11,048 462.478 13,129 463,394 {9161 Total funds carrltsd fomioyd 6.347 470,260 475,607 462,478 The Statement of Financial A¢livilies indudes all gains and108ses iecognised in the year. The notes on pages 9 to 26 form part of these financial statements. Page 7
ST STEPHEN'S CHURCH, SOUTH LAMBETH REGISTERED NUMBER.. BALANCE SHEEr AS AT 31 DECEMBER 2025 2026 2024 Nots Flxed assets Tangible assets Investments 12 13 1,890 421,938 3,758 421,974 423,828 425,732 CLFrrent assets Debtors 14 15 5,527 12,846 36,250 13,060 8,412 18,377 Investments Cash al bahk and in hand 54,623 39,849 Cr8ditors.' amounts falling due within on8 year 12,8441 3,103> Not curront a$Bat• 51,779 36,746 Total not assets 475,607 462,478 Charlty fund8 R8slricl@d funds Unrestrlcted funds 18 18 6,347 470,260 3,266 459.212 Total funds 475,607 462.478 The financial statBmanls were approved and authorls8d for issue by the Trustees on signed on their behalf by.. 'and Ros811g Grant Chuich warden Rosallnd HallSfax Treasurer The notes on pages 9 10 26 form part of these financial statement8. Page 8
ST STEPHEN'S CHURCH. SOUTH LAMBETH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 General Informatlon Sl Stephen's Church, South Lamb&th is a registered charity in England and wales. The address of the registeTed ofice is given in the charity information on page 1 of the8e financial statement. Accounting pollcles 2.1 Ba818 of preparatlon of flnanclal 8tatèmènts The financial statements have been Prepared accoréance wtth the Church Accounting Regulations together wilh the Charrf(ies SORP IFRS 102). The financi81 slalements h8v8 b&8n prapared on an accruals basis and undeT the hlsloric cost convention, expt for the valuation of investment assets which are shown at market value. The financial slalements include all transactions. assets and liabilities for which the PCC is legally responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body, nor thlise that are informal gatherings of church memb&rs. 2.2 Income Incoming re80uYoe$ Planned giving, collections and donallons art recognized when received. Gift aid claimable on income is recogized at the same lime as the associated incoming resource. Grants and legacies are recognized when the PCC 18 nottfi8d of ¢ts entitlement and the amount due. Income In re8PeCt of hall hir8 or other fees is wognized in the period in whlch the event wr8. Investm8nt income 18 recognized when gntillement to such Income arise8. l incoming resources are accounted for gross. 2.3 Funds UnrestTiel8d funds represènt funds that are not subject to any restrictions rggarding their use and ara available foT any PLErpose. These include the general fund and al80 funds designated for 8 particular purp08e by the PCC. Restricted funds represent funds where money is given for a spe¢tflc purFose8 and the fund can only be used for those reslricled objects 14 Expenditure Grants and donation are accounted foT when pald, or when awaTded if that award creates a binding or constructive obliuation on the PCC. The diocesan p8r¢sh share is 8ccounted for when du8. All other oxpendilure is generalty accounted for when it Is incurred and is accounted for gross. Exp&nditur8 on raising funds includes all expenditure Incurred by the charity to Talse funds for its charitable purposes and includes costs of all fundraising actwilies events and non-charilable trading. Exp•nditura on chgritabla activities is incurrecl on directly undertaking the activities which further the char¢l¥s obj8CtiV8s, as well as any associated support Costs. All expenditure Is incluslve of irrecoverable VAT. Page 9
ST STEPHEN'S CHURCH, SOUTH LAMBEfH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Accountlng polScies Icontlnuèdl 2.5 Tanglble Ilxed assets and dèpreciatlon Consecrated and bentsficed propety18 excluded from the accounts by $1012llal tsf the Chariti&s Act 2011. No value is placed on moveable church furnishings held by the churchward8ns on special trust for the PCC and whlch reqLEire a faculty for disposal since the PCC considers these to be inalienable property. All expenditure incurred during the year on consecrated or kneliced property and moveab18 church furnishings, whether maintenance OT Improvement, is written off as incurred. Equipment used wthin the church premises is depreciated on a straight line basis over four years. Individual items of equipment with a PLTrrehase wice of £1,000 or less are generally wrillen off in the period in whlch the asset is acquired. Depreciation 18 charged so as lo allocate the cost of tangible fixed as8els less their residu81 value over thelr estimated useful lives, using the 8lraight-line melh(xl. Depreclation is provided on th8 following bas&s'. Oflice equipment Premises 8quipment 4 years straight lin6 4 yèars straight line 2.6 Invèstmènts Invèstments are valued al fair value with any revaluation gains OT losses going through the Statement of Financial Acliv¢lies. 2.7 Gash at bank and In hand Cash at bank and in hand includes cash and short-term highty liquid Investments with a short maturlty of three months or 18ss from the date of acqui811ion or opening of the dep)sil or similar account. 2.8 Debtors Trade and Dther debtors are rewgnised al the sottlemenl amount after any trade discount offered. Prepayments are valued al the amount prepaid nèt of any trade discounts due. 2.9 Llabllltles and pYovl$ions Liabilbties are reeognlsed when there is an oblig8liDn at the Balance Sheet dale as a result of a past event, it is probable that a transfer of economic benefit wll be required in selllement, and the amount of the selllemenl can be estimat8d r81iably. Liabilities are re¢ognised at the amount that the charity anliclpates it wll pay to settle th8 debt or the amount it has received as advancèd payThents for the goods or services It must providè. Page10
STSTEPHEN'S CHURCH, SOUTH LAMBETH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Voluntary Income Restricted Unrestricted funds funds 2025 2025 Total funds 2025 Voluntary Income Donationslgift aid) DDn81ions (non grft aid) Othèv Incom6 330 2,150 330 2,150 Open offering (gift aid) Open offering (non gift aldl Pl8nn6d giving (gift aid) Planned giving (non gift aid) Gift aid lax recoverable Slmllar Incomlng resources YoLrth group outing8 Church outings Collection for refugee children MSG glving 2,522 96 11,366 6,461 3,374 2,522 96 11,366 6,461 3,374 300 300 755 756 732 1,300 732 1,300 Total 2025 2,332 27,054 29,386 Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Voluntary Incom Donation8 (gift aid) Donations (non gift aldl other Income 10 11 10 11 Open offerlng Igrft aldl Open offering (non gift aid) Planned givlng (gift aid) Planned giving (non gift aid) Gift aid tsx recoverable Slmllar Incomlng resourc09 Youth group outings Church outings Collection for refugee children MSG glving 5,178 5,178 96 13,320 8,596 5,393 13,320 8,5 6,393 300 300 1,125 232 1,125 117 115 643 Total 2024 1,058 33,846 34,904 Pago11
ST STEPHEN'S CHURCH. SOUTH LAMBETH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Church activitieg Unr6strlcted funds 2026 Total fund$ 2026 Churchlottings Fees and sundry income 21,965 217 21,965 217 Total 2025 22,182 22,182 Unrestricted funds 2024 Total funds 2024 Church lettings Fees and 8undry income 38,318 162 38,318 162 TDt812024 38,480 38,480 Investment In¢ome Unrostrlcted funds 2025 Totsl funds 2026 Income from portrolio inclxne receivable Bank interest receNablè 62.578 287 62,578 287 Total 2025 62,885 62.865 Unrestricted funds 2024 Totsl funds 2024 Investment portfolio income r8ceivable Bank interest receivable 60,882 319 60.8 319 Total 2024 61,181 61,181 Page 12
ST STEPHEN'S CHURCH, SOUTH LAMBETH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Mlsslonary ahd charltable glvlng Re8tYlcted Unre8trlcted funds funds 2025 2025 Total funds 2025 Missn Dlrecl Lambelh Street Pastr)rs Spinnaker Trust Robes Project Dr Glenn Mites Relite Africa Adetokunbo Salaml Global Inspiration Foundation (Nigeria) SRCC (Ugandal Sl Stephen's Childrens Centre Mothers Union Royal Trinity Htsspice Women Arise Ministries Wycliffe UK 478 soo 476 500 1,000 313 1,100 1,100 1,300 1,100 1,400 423 56 126 1,000 313 1.100 4,100 1.300 1.1fy) 1,400 423 126 251 251 388 Total 2025 251 9,282 9.533 Page 13
STSTEPHEN'S CHURCH. SOUTH LAM8ETH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 MIB$lonary 8nd ¢h4Ylt4ble ulvlng {¢ontlnu¢dl (continued) Unrestrictad funds 2024 Tutal funds 2024 Misslon Direct Lambeth Street Pastors Spinnaker Trust Robes Project Dr Glenn Miles Relile Africa AdQkunI Salami Global Inspir81ion Foundation (Nlgeria) SRCC {Uganda) Sl Stephen'8 Childrens Centre 400 400 500 800 300 1,000 1,000 700 1.000 1,000 360 500 Boo 300 1,000 I,ooo 700 1,000 1,000 360 Total 2024 7.060 7,060 Analy$i8 of expondlturo on ¢harltabl8 actlvlti Summary by fund typ Unrgstrlcted funds 2025 Total 2025 Diocese and church Staff costs People and groups Management and administration GoveTnanc8 costs 43,951 16,818 2,126 6,711 2,512 43,951 16.818 2.126 6,711 2,512 Total 2026 72,118 72,118 Page 14
ST 8TEPHEN'S CHURCH, SOUTH LAM8ETH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2026 Analy$lg of expendlturg on charltablo a¢tlvltlgs Icontlnuedl Summary by fund type {continuedl Reslricled UnreslTl¢ted funds funds 2024 2024 Total 2024 Diocese and church Staff costs People and group8 Management and adminlstration Governance costs 872 72,163 2D,740 1,39e 7,318 2,010 73,035 20,740 1,396 7,318 2,010 Total 2024 872 103,627 11)4,499 Summary by èxpendlture typ& Othèr costs 2025 Total 2025 Ditxese and church Stsff co8t8 People and gr¢ups Management and administration Govemance costs 43,951 16,818 2,126 6.711 2,512 43,951 16,818 2,126 6,711 2,512 Total 2025 72,118 72,118 Other costs 2024 Totsl 2024 Diocese and church staff costs People and groups Management and a¢Jministralion GovernanGe costs 73,035 20.740 1,396 7,318 2,010 73,035 20,740 1.396 7,318 2,010 Total 2024 104,499 104,499 Page 15
ST STEPHEN'S CHURCH, SOUTH LAMBETH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Analy$ of •xpgnd5turo by a¢tlvltles Activitles undertakon dlrectly 2025 Total funds 2025 Diocese and church Staff costs People and groups Managemonl and administration Governance costs 43,951 16.818 2,126 6,711 2,512 43,951 16,818 2.126 6,711 2,512 Total 2025 72,118 72.118 Activities undertaken directly 2024 Total fijnds 2024 Diocese and church Staff costs Peoplo and groups Thanag8n1 gnd adminislralion Governance eosls 73,035 20,740 1,396 7,318 2,010 73.035 20,740 1.3g6 7,318 2.010 Total 2024 104.499 104,499 Page 16
ST STEPHEN'S CHURCH, SOUTH LAMBETH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Analy81s of 8xp8ndltuie by activlt108 (continuodl Anolysls of dlract¢o8ts Dlo¢ese and church 2025 Stoff ¢05ts 21125 P&opl8 and M8nag8ment and group8 adrnlnlstratlon 2Q25 2025 Dlocese- pSh shwe Church- mainlen8n Church- fJel & water Chwch- in8ur8n Church- 84pment deweclallon Youth events Church outing Tele4)hO 8tTd Milemet Postage. slalionory and wpbslle Worshlp and 5ervlte related Geneml expenses Bank charge 8nd Interest Investment management charge¥ CLganer YoLth pastor 1?,500 18.865 7,289 3.429 1,868 444 312 1,S02 978 70 3.081 6.555 10,263 Tothi 2025 43,951 16,818 2.126 6.711 Gov•rnance Costs Total funds 2025 2026 Dwese- pgrish sha Church- maintenan Churth- fuel & water Church- inguran¢e Churth- equlpmenl dewe£ialon Youth events Church 115 Tdephon8 and inlemet Postage, slaliony and website Wor$hip 8nd setvica related General expens0$ Bank tharye Int8rest InvestnI managemeknl tharges AccoLmllng and Independent examlnatlon Cleaner Youth pastor 12,SQO 18,865 7,289 3,429 1,868 444 1,6B2 312 1,502 788 978 70 3,081 2.512 6,855 10,263 2.512 TotEI 2025 2,512 72,q18 Page17
ST STEPHEN'S CHURCH, SOUTH LAMBETH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEM8ER 2025 Analy818 of expendltuie by a¢tlvltlg$ Icontlnu¢dl Analysls of dlr8Ct costs {contlnuedl Dl0ces8d church 2024 M8wementand dm1n1s0u0n 2024 Staf costs PelFAe4r oroUP& 2024 2024 Dk)rÈs0- pbdh thttrè ChLYth-newboAers t2,717 42,V28 ¢hLvth-quiDwennial ChLvth-thd & Wal f3.726 3.329 I,ee3 CaLYth-Insurancv Yoirth 23J Chwch oull 1,128 35 EvanuelFsm Tekphone Inem•l Po&tsp. stoyontry rshlpand YeNico r¢lut¢d Gener aKpeMe5 Bankthar9an¢ Inter&5t IrnrestrneTrt manauementcharge CFether 1,30 1,S61 127 758 gB 6,t80 14,66Q Youlh pastor Yota12024 74026 2D,740 7,319 fun 2024 20Z4 Oke-pa5h Bh5E Chwth- bollers 12,717 42,82& ChWL-qqennl in8pqth ¢hwth-fuBI & water Chwth. kn&urBr 13.72B 3.32 1.863 23? 1,128 36 Chtyth-¢w4¥wnl dopr0d0 Youth eWf*l$ Churth othi T8Pe4nd thterngl Postsg?. st4thryAnd wet4118 WoT$hlpand setvk4 14l&ted t.305 127 Bankchargeand IntereBt Irmstmenf man4g8ment¢harge$ End indBpBndeTrt eXwDknatton 99 3,064 2.Q115 6.18ts 14,660 2.010 Cla&nor Youth pastor TDtsI 2Q24 2.010 104,499 Paqe18
8T STEPHEN'S CHURCH, SOUTH LAMBETH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2026 Indgpendont oxamlnerf$ romungratlon 2025 2024 Fees payable to the ¢harity'$ independent examiner for the independent examination of the Charity's annual accounts 2.110 2,010 io. staff costs 2025 2024 Wages and salaries 16.818 20,740 16.818 20,740 The average number of persons employed by the charity during the year was 8s follows: 2025 2024 Employees The 8V8rag8 headcount expressed as equivalents was 0.75 (1 half time and I quarter timel. 2025 Ggneral 2024 General Cleaner Youth pastor 6,555 10,263 6,180 14.560 16,818 20,74fJ No employee received remuneration amounting to MO than £60.000 in either year. Expenses are reimbursed lo ceTlain PCC member8 for reasonable co8t8 incuired on behlaf of the Church. 11, Trustse8' romuneration and expense$ During the year, no Trustees recelved any remungr8tion or other b&nefits {2024 - £NIL}. During the year ended 31 December 2025. no Trustee expenses have been incurred12024- £NIL). Page 19
ST STEPHEN'S CHURCH, SOUTH LAMBETH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 12. Tahglble fixed assets Office Premi8es equlpmont Equlpment Total Cost or valuatlon Al 1 January 2025 Disposals 868 37,119 {4,854) 37,975 11,854) At 31 December 202S 8S8 35,28S 36,121 Daprnelatlon At 1 January 2025 Charge for the year On disposals 853 33,364 1,867 (1.853) 34,217 1,887 11.8531 At 31 December 2025 853 33,378 34,231 Not book value At 31 December 202S 1,887 1.890 At 31 December 2024 3.755 3.758 13. Fixed a85et Investments Listed Investments C08t orvaluatlon Al 1 January 2025 Net movements 421,974 {361 At 31 December 2025 421,938 N&t book valuè At 31 DecembeT 2025 421,938 Al 31 December 2024 421,974 Page 20
ST STEPHEN'S CHURCH, SOUTH LAMBETH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 14. Dabtors 2025 2024 Due within on• yoar Other debtors Prepayments and accrued incomè Glfl Aid recovorable 1,265 447 3,815 8,041 5,019 5.527 13.060 15. CuYr8nt a88et Inve$tm•nts 2026 2024 Cash and ca8h equivalents 12.846 8,412 18. Credltor8: Amounts falllng duo wlthln one year 2025 2024 Trade credltors 2,844 3,103 17. Analy$ls of net aosets botw88n funds AnalyslB of net as80ts betwoen fund$ - Currènt yèar Restrlcted Unrèstrlctèd fund8 funds 2025 2026 Totsl funds 2025 Tangdjle fixed a8sels Fix8d asset investments Currènt asset8 Creditors due within one year 1.890 421,938 4S.276 12,8441 1.890 421,938 54,623 (2,844) 5,347 Total 5.347 470,260 475.607 Page 21
ST STEPHEN'S CHURCH, SOUTH LAMBETH NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 DECEMBER 2025 17. Analy818 of net assots b•twoèn funds {contlnu•dl Analysis of net assets bètweèn fund8- prloryear Re8tricled Unrestricted funds funds 2024 2024 To131 fund8 2024 Tangibl8 fixed assets Fixed asset it)veslmenls Current assets Creditors dtse wilhln one year 3.758 421.974 36,583 13,1031 3.758 421,974 39,849 (3,103) 3,26e Total 3,266 459,212 462,478 Page 22
ST STEPHEN'S CHURCH, SOUTH LAMBETH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 18. statement of fund statoment of funds- currgnt year Balance at 31 Galnsl December {Los$esl 2025 Balance at 1 January 2025 Transfors Inlout Income Expendlture UnrtrICted fLtnds Do$ign8t•d funds Provision for major ièpairs lal Employee reserve Ibl Mission givsng reserve Icl 12,01)0 20.000 32,OOQ 6,000 6.000 6,890 19,282) 2.392 24,890 19.282) 22,392 38,000 General funds G&n8r81 Funds all fund8 434,322 112.101 172.1181 {22.392) 119,653) 432,260 Total Unrestrlcted funds 459,212 112,101 (81,4001 119,6531 470,260 R98trictod funds Women's pastoral work (dl Youth events lel Youth Work lfj MSG Giving 261 (2511 300 2,715 300 732 1,300 600 3,447 1,300 3,288 2,332 {251} 5,347 Total of funds 462,478 114,433 {81,6511 119.6531 475.607 Page 23
ST STEPHEN'S CHURCH, SOUTH LAMBETH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2026 18. St¥temènt of funds Icontlnuadl lal This is for major repairs and renewals that might be requirod, including repalrs lo the Church floor. Ibl A reserve is maintained to enable the Church to be able to meet its employment Commitments. Ic} An an7ount had been Sel aside to cover mission giving Ih8t was desired bul hadn't yel been 811(Kated or paid. Idl This is th8 balance of donations in premous years Iowords women's pastoral work and paid in 2025.. lel This is the balance of donations in the previous ye8r towards th8 cost of attending ChTlStlan youth events. lfj This is grants recelved toward8 youlhlchildren's works. Statement of fund8 - prlor year Balance 81 31 December 2024 Balance at 1 January 2024 Transfer8 inloul G8insl (Losses) Income Expenditure Unr8strlct•d funds Dgslgnatod funds Provision for major repairs lal Employee reseNe (bl Mission glwng reserve Icl 12,000 12.000 6,000 6.000 17,0601 13.950 6,890 18,000 (7,0601 13,950 24.890 G•noral funds General funds 442,314 133,5Q7 1103.6271 113,9501 123,922) 434,322 Total Unre8trlctod funds 460,314 133.507 {110,687) 123,9221 459,212 Balance at 31 December 2024 Balance at 1 January 2024 Transfers inlout Gainsl (Lossosl Income Expendllure Re8tTiCtad funds Women's Pastoral work Id) 251 251 Page 24
ST STEPHEN'S CHURCH, SOUTH LAPJiBETH NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 DECEMBER 2025 18. Statement of funds (contlnuttd) Statement of funds - prior year lcontinuodl BolanGe at 31 December 2024 Balance at 1 January 2024 Transfers inloul Gainsl (Losses) Income Expenditure Youth events Ic) Sl Staphen'8 Children's C2nlre le) Youth work (él MSG Givin 300 300 114 2.715 11141 11151 (843) 115 2,715 643 3.080 1.058 (8721 3.266 Total of funds 463,394 134,565 (111,559) 123,9221 462,478 la} This is for major repairs and renowals that mtghl be Tequirod, inGluding repairs lo the Church floor. Ib) A reserve is maintained to enable the ChUh to be able lo meet its employment Commitments. Icl An amount had beèn set aside lo cover mission giving that was desired bul hadn't yel been allocated or paid. Id) This is the balan of donations in previous years towards women's pastoral Work. le) This is grants received towards youlhlchildren's work. lfj This is a grant received towards fuel bills. Page 25
ST STEPHEN'S CHURCH, SOUTH LAMBETH NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 DECEMBER 2025 19. Summary of funds Summary of funds - current year Balance at 31 Balance at 1 January 2025 Tran$f•rs Inlout Galnsl (L088è8) D8cambor Income Expenditure 2025 Designated funds General funds Restricted funds 24.890 434,322 {9,2821 {72,1181 22,392 122.392) 38,000 432,260 112,101 {19.6531 3,266 2,332 12511 5.347 462,478 114,433 {81.651) {19.653) 476,607 Summary of funds- prloryèar Balance at 31 Gainsl December (Losses) 2024 Bal8nc8 at 1 January 2024 Transfers Inloul In¢ome Expenditure D8sign8led funds General funds Restricted funds 18.000 442,314 17,060} (103,6271 13.950 {13,950) 24.890 434,322 133,507 {23,9221 3,080 1,058 1872) 3,266 463,394 134,565 (111,5591 123,9221 462,478 Page 26