THE PAROCHIAL CIIURCH COUNaL OF THE ECCLESIASTICAL PARISH OF ST MARY, WEST KENSINGTON TRUEE5. ANNUAL REPORT YEAR ENDED 31 DECEMBER 2025 ST MARY'S WEST KENSINGTON THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY. WEST KENSINGTON (REGISTERED CHARITY NUMBER 1139480) TRUSTEES ANNUAL REPORT AND AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2026
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY, WEST KENSINGTON CONTENTS YEAR ENDED 31 DECEMBER 2025 Pa9• No. Reference and admislralion inlormalion Annual rttptsrt Report of the Indep8ndent auditors &11 Statement ol financial actwi1185 12 Balance sheet 13 Noles to the financial 81818ments 1*25
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASMCAL PARISH OF ST MARY, WEsf KENSINoN TRUSfEE5' ANNUAL REPORT YEAR ENDED 31 DECEM8ER 2025 Prfnclpal Addre86 St. Mary's Church 147 Hammersmith Road London W14 OQL Members of thè Parochlal Church Council InDJmbent'. Rev. G J Daly (from 9fT125} Vacancy from (until 08107125 chUhwa1derns.. Ed Green OBE Dr Jenny Ireland Elected Members: Dave Pearson (Lay Vlce Chairl Rachel Cooper Elvzabeth-Ann@ Haldane Tom Butler Jeremy Sharp Nicola Walworth Eleanor Davies lunlil 181051251 Kyra Bryan (until 181051251 PCC Secretary Dave Pearson Co-opt8d.' EanOr Davies {from 181051251 Kyra Bryan (from 18105r251 Deanery Synod Representatives.. Ed Green OBE Accountants Hetherington and Co Ltd Chartered Certified A¢countants 289 Grean Lanes N134XS Audltor: Georgiades Charalambou & Co LLP Charted Certified Accountants and Reglslefed Auditors 283 Green Lanes N134XS Bankers: Barclay5 Bank PLC 191 Earls Court Road London SW5 9AW
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLÉSIASTICAL PARISH OF ST MARY. WEST KENSINGTON TRUSTEES. ANNUAL REPORT YEAR ENDED 31 DECEMBER 2025 The Parochial Church Council IPCCI of St Mary. West Kensington pres8nt their report and the audited financial stalèmenls for the year 8nded 31 December 2026. STRUCTURE, GOVERNANCE AND MANAGEMEKr The Parochial Church Council IPCCI of Sl Mary, Wesl Kensington is a corporate body established by the Church of England. The PCC is a registered charity (Charty Number 1139480}. The PCC is governed by the Parochial Churth Council {PoweTS) Measure 1956, the ChurGh Represgntation Rules and the Ch8ritiesAcl 2011. Appolntmgnl ofPCG Mombers M8mbers of the PCC are eleGlÈd by the AnnLtal Parochial Churth Meeting IAPCMI in accordance with the Church Representation Rules. Church members are invited to nominate candidates for elect1 lo the Parochial Church Council (PCCI. Nominations ts membership of the PCC are advertised in the Church and any person wishing to be considered completes the relevant application which require5 both a propDsèr and seconder to be named. Ballot papers8re then provided at the APCM for persons to be elecled or re-elected to serve on the PCC. Once elected, each member Is provided with details of the wofkings of the PCC and their responsibilities. Those persons who served a$ membws of the PCC during the year or were appointed since were as follr)w$'. Incumbenl.. Va¢8ncy (until 081071251 Rev. G J Daly (from 091071251 Dave Pear50n Lay Chairman: Church Wardens.. Dr Jenny Ireland Ed Green OBE Safrguaiding Offieer.. Kyra Bryan Deanery Synod Represent8tiv8S'. Ed Green OBE PCC sretsry.. Dave Pearson Treasurer.. Eleanor Davies Elected Members.. Dave Pèar$on ILay VI Chairl Kyra Bryan {until 181051251 Tom Butler Rachel co0r ElÈanor Davies (until 181051251 Eliz8b8lh Ann8 Haldane Jeremy Sharp Nicola waOrth
THÉ PAROCHIAL CHIJICH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY. WE¥f KENSINGTON TRUSTEE5' ANNUAL REPORT YEAR EhlDED 31 DECEMBER 20Z5 Organsalion The PCC members are responsible for making decisions on all matters of general concern and importance lo the parish, including deciding on h¢)w the funds of the PCC are to be spent. The PCC carries out bts aims and objèctives through regular prayer, informal convers81ions, formal meetings, and variou5 groups. A draft agenda for each rneeling is construded by the lay vice chaimian inc(wporating any mallers raised by PCC members. The full PCC met six limes Lyuring the year for iegular meetings - with four extrajinary meetings called for speofic malters. It rnel to discuss mallefs including, the future leadership of Sl Mary's, Parish Profile, adverlising for a new car, ongoing church operational matters, finance, risk managernenl, property maint8nance, safeguarding and staffing. The annual budget is presenteé to the PCC lo b8 Consered and approved, Management accoun18 and financial updates 8r& regularty presented to the PCC. The PCC operates by financing a paid team of employees, togetherwith a team olvolunteèrs. The teams develop the ministry ol the ChLSrch within the parameteis sel by the PCC. Gwen its wide responsibillties, the PCC has a St*nding Comrnittee. which rneet5 as required b8tween PCC meelings.11 is responsible lo the PCC and reports back to it with minutes of ils decisions being r8ceived by the PCC and discussed a5 neG6ssary. Risk Policy Thg PCC 8Stabllshed procedures in order lo identify and minimise the major risks lfinancial and non-financiall vthich could impact the work Df the ChLJreh in the parish. Reseno Pol As with many other churches, St Mary's has adopted a poltcy of not buikling up re58rves ume¢essarily. Consequently, the reserve5 of the church will havè resulted from accumulated giving at any one tirne. The church remains dependent on th& continued support of the congregation. The PCC considets that the reserves held at 31 December 2025 together with its forecasted cash Ilow will be sufficient to fund its work for the en$ulng y88r. Grnnl Policy Eac4) year the PCC. at the disGretion of the Vicar, provides grants for missionary work. In addition. further grants are made availabl8 throughout the year via dedicated ¢ollectKJns for specsfiG causes.
THE PAROCHW CHURCH COUNUL OFTHE ECCLESIASTICAL PARISH OF ST MARY. WEST KENSINGTON TRUSTEES, ANNLIAL REPORT YEAR EP4DED 31 DECEMBER 2025 S81egu&nSing The PCG has complied wllh the duty under Sec11on 5 of the Safeguarding and Clergy Discipline Measure 2016, ITh relalK)n lo having due regard lo the House of Bishops, guidance on safeguarding childrert and vulnerable adults. To comply with the Charity Commission recommendations all PCC rnembers, as Charity Trustees, are asked to apply for a DBS check. Ml who work with children al Sl Mary's Church ar8 required lo obtain a DBS check prior to being on the children's roster. It is also a requirem8nl that paid and voluntary stsff completè the Basic and Foundallons Safeguarding online training ¢ourses. The Basic training course can be completed by all members of thurch. The purpose of the course is to raise an awaieness of what conslilutes a safeguarding concern and lo be vigilant, thus ke8ping the Church of England and St Mary's safe places lo be. Safer churches is a key priority for the Church of Eng18nd'$ 2030 vision. The Church is 8 place where everyone should be safe from harm. Safeguarding chlldren, young people and vulnerable adults is everyone's responsibillly. Sl Mary's Church continues lo be using the Parish S8feguarding Dashboard. The Dashboard gives ) fast and easy view of 011 safeguarding procedures, e.g training, DBS checks, church activities, risk ass8ssmenls el¢. St Mary's ChLJrch is currently al a high level 2 and is Working towards the final lev813. Kyra Bryan was safeguarding off1cer for 2025. regularly updating the PCC. AIMS AND OBJECTIVES st Marfs Parochial Church Council IPCCI has the sPonsIbl11ty of promoting in the ecclesia$lical parish and the whole mission of the Church, pastoral, evangelistic, SOGial, and ecumenlcal. The PCC is also spe¢ifica11y responsible for the maintenance of the buildings and asseis (namely 3 Edith Road and 72 Edith Roadl of Sl Mary's, Wesl Kensington. STRATEGIES ADOPTED TO ACHIEVE THE AIMS AND 0EcTEs OF THE PCC The PCC is ttimmitted to enabling as many people as possible lo worship at our church and lo bacome part of our parish community at Sl Mary's. The PCC maintains an overview of worship throughout the parish and makes suggestions on how our services can irwolve the many groups that INe wthin our parish. Our seNices and worship put faith into prartice through prayer and scripture. music. and sacrament. When planning our aclivities the year, we have considèred the Cgmmission's guidanc8 on public benefrt and, in particular, the supplementary guidance on charities for the advancement of religion. More specifi(ally, we try lo erlable ordinary people to1Sve out their faith 8s part of our parish community through.. worship and prayer, learni about the Gospel, and developing their knowledge and trust in Jesus., provision ol pastoral care for peopl8 lThring in the parish., mi8sionary and outreath work. To facilitate this work. il is importarst that we maintain the fabric of the Churth of St Mary's.
THE PAROOIIAL CHURCH COUNaL OF THE ECCLESIASTICAL PARISH OF ST MARY. WEST KENSINGTON TRUSTEES. ANNUAL REPORT YEAR ENDED 31 DECEMBER Z025 Ouring 2025 wtth the nèw Vicar Rev Gaz Daly, the church continued to build on its vision and Mission Action Plan IMAP). Our MAP identified three core values and three areas for mission for our parish of St Mary's West Kgnsington. Corn values.. Being centred on Jesus Being a compassionate community Celèbrating the Local Ar8as for mission.. Families Young Adults Vulnerable People The locAI communty Publc Benef Th8 Charities Commission in its Charities and Public Benefit Guanc& requires thal there are Iwo principles lo be met lo show that the organisation's aims are for the public benefit. Firstly, there must be an identffjable benefit. Secondly the benefit must be to the public or a section of the public. When planning the ath'vities and in ex8rcising their duties and powers in order to meet th8 Stat8d objedive of the church for the year under review, the members of the PCC confim that they have had due regard to the guidance issued by the Charity Commission on public benefft. Additionally. they will Continue lo ensure that each year they considw how the PCC continues lo meet the public benefft objectives oullineQ in Section 4 of the Charities Act 2D11. NOTABLE ACHIEVEMENTS AND PERFORMANCE: 2025 REVIEW Op8rations 2025 was a year of waiting and praying, led by Ihe Wardens, PCC and staff te8m as St Mary's was in vacarty from 07101124 wilhoul any clergy team. As a Parish we are very grateful lo the rnany visiting der9y who sup- ported us and lo the Diocese for their ongoing help. Daily operalp?ns w&re kept simple and limited Ihroughout 2025. because of the period of vacancy. Throughout 2025, we were grateful lor the hard work and support of our staff team. Sandra Crewe- OpeTalions Manager until March 2025 Kate Green- ChuTch Coordinator- off on ill health until October 2025 Janis Hui- Chilen.$ and Youth Worker until February 2025 Millie Jevons-Admin support from February 2025 Apwntmenl of g n8w ViGar Intervièws w8r8 held in November 2024. Rev Gaz Daly was offered and accepted the role Stasng in Ju 2025 MissKin Aclion Plan The PCC reniained commitied to the Mission Action Plan throughout 2025. The October sermon Series reflected each of the 3 Main vlsion points. During the autumn theAlpha course was run in the Church with about 18 participants.
THE PAROCHIAI CHURCH COUNaL OF THE ECCIESIASTICAL PARISH OF ST MARY. WEST KENSINGTON TRUSTEES, ANNUAL REPORT YEAR ENDED 31 DECEMBER 20Z5 Outreach Dumg the vacan¢y this was limitsd. W+th our Christmas services we had Carols in the Car Park. During early December members of the church d1d a parish door drop advertlslng all our Chrislmas Services. The Mayor of Hammersmilh was welcomed to cur Carol seNice and did one of our readings. The church continues lo rent out the Hall to a number of hirers. Th8se indude the U3A. Wesl London Strings, local lot5 group. and other local people for party celebrations. We try lo work closely wlh them and build up reiationshlps where we can. The Vicar (Gazl has been workiro with U3A, they are helping to clear the garden behind the Hall. W0h1p Sl Mary's continues to hold regular infomial Sunday serylce at 11 am. On many occasions this was c8lebraled hLly Gommunion led by visiting clergy, untrl July . A number of fun8rals and one baptism was held during the year. Our talented group of muslclans continued lo support our worship in a variety of different styles. Ward8ns & PCC The Church Warden$ and PCC have worked tirelessly during the interregnum- and continue to be a support for our new Vicar During and following the APCM held in May 2025 the followng appointrnenls were made.. Ed Green OBE and Dr Jenny Ireland were r&elected a5 Church Wardens. Six members of the PCC were re•appoinled. The PCC appointed Dave Pearson a5 Lay Vice Chair The PCC appointed Eleanor Davies as Treasurer The PCC appointed David Pearson as PCC Secretary The PGC appointed Nicola Walworth as Electoral Roll Officer The PCC appoin18d Kyra Bryan as Safeguarding Officer chUh Allendance Average attendance a¢ross ow Sunday s8ivices in 2025 was 35 adults and up to 6 d)Ildren. El8clor81 Roll In May 2025. the Electoral Roll stood at 45. Fèbhc Report During this year of vacancy, no major projects w8re carried txrt on the church building b8yond necessary mainlen8nce work as and when requlred. Church houses (No. 3 and No.72 Eijhh Road) Continued maIntenCe on the church houses was appioved by the PCC in 2025 as required, these were 8greed by elther StaThJing Committee OT full PCC. Urban Home manage and malnlain the properlfjes on the PCC'S behalf.
THE PAROCHIAL CHiJRCH CQUNaL OF THE ECCLESIASTICAL PARISH OF MARY. WEST KENSINGTON TRUSTEES. ANNUAL REPORT YEAR ENDED 31 DECEMBER 2025 Deangry Synod The Deanery Synod met 4 limes in 2025 and disGussed a range of issues relating to the delivery ol the 2030 visK>n and other mallers relating lo church life, including discipship, safeguarding and the appointment of governors to Church of England schools wthir) the deanery. FINANCIAL REVIEW The results for the year can be found on page 12. During the year under review the PCC'S main Sour ol income ntInued to derive from generous donations from the congregation as well as from church hall, car park, 8nd propety lettings. Total income generated in the year was £258,98512024.. £274.8621 of which £248,931 12024.. £261.478) rekled to gen8ral funds and £8,05412024.. £13,384) related to restlted funds. The PCC continued to manage the resources of the church t2refully, in accordance wlh ils annual budget. In QV8iall terms the PCC gen8Tated a surplus of £16,746 {2024". defiat of £15,052) on genèra5 funds, before takin9 account of revaluation losses of £289,038 on its investrnent property. The operational surplus was mwnty attnbutsb18 to reduced propèrty repairs and church Maintenan costs and reduced professiorkil fees. At the year-end date, general reserves stood at £3.915,521 anrl roslridèd resetves at £35,612. FUTURE PLANS In 2026. we will Gontinue with the v8rious ministries and inili8tNes In pursuing our vision in worship, prayer. and evangelism, and mission. There are key priorities.. gfowth in chuich lrfe development in prayer enabling the thurch for ministy. and engagement in mission STATEMENT OF PAROCHIAL CHURCH COUNCIL MEMBERS. RESPONSIBILITIES Chartty law requires the PCC members to prepare financial statements for each f nancial year that give a true and fair view of the PCC'S finanLMa1 activities during the year and ils f5nancial position al the end of the y8ar. In preparing financial statements gwing 8 true and fair view, the PCC rnembers should follow best practice and.. $el&ct suitable accounting policie5 and ap them consisteDtty,' make judgements and estimates that are reasonable and prudent., prepare financial slalemenls on a going concem basis unless it 18 inapproprfate lo presume that the PCC will continue in operation. The PCC rnemberg are r8sponslble for keeping accounting records, which disdose wf(h reasonabb accuracy the finaneial position of the PCC. This enable5 them lo ascertain the fin8ncial position of the charity to ensure that the finanaal statements comply with the Charilies Act 2011 and the Chureh Accounting Regulats"ons 2006. They are also cespon51)le for safeguarding the assets of the PCC, and hènce, for taking reasonable steps for thè prevention and detectton of fraud and other Nregulariliès. We are immensely grateful to G¢)d for all He has done throughout the year. Signed on b8h Ifof Mary, West Kensington on 28ihApril 2026 by Rev. G J Daly (Incumbonll
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY, WEST KENSINGTON INDEPENDEKf AUDrroR'S REPORT TO THE MEMBER'S COUNCIL OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY, WEST KENSINGTON Opini( We have audited the finanaal statements of The Parothlal Chur¢h CoLtncil Of The Ecclesiastical Parish Of St Mary, Wesl Kensington (the '¢harity'l for thè year ended 31 December 2Q25 which comprise the statefflent of linanrial activities, the balance sheet and notes to the financial statements. including significant accounting policies. The finanual rèporting fratnework that h8s been applied in their preparation Is applicable law and Uniled Kingdoffl AccounliDg Standards, #ic1uding FirTranLyal Reporting Standard 102 The Flnancial Rewrting Standard gppli¢ab16 In Ihe UK and Republic of Ireland {UnilEd Kingdom Generally Accèpted Accounting Practice). In our opinion, the finani?al statements,. give a and lair view of the state of the charity's affairs as at 31 December 2025 and of its in¢oming resources and application of rèsources, for the year then ended-, have been properfy prepared in accordance with United Kingdom Gen818lly A¢xepted Ac£ountin9 Pract. and have b¢en prepared in accordance with the requirements ofthe Chatities Act 2011. Ba$TS for oplnion We conducted our audit in a¢o)rdance with International Stsndards on Auditing (UK) IISAs IUKII and applicable law. Our resporisibilities under those standards are further des¢iib6d In the AtlI0S Trsp(Jnsibililies for th8 audif ol Ilje fM7ancial slat8m&nts sedion ol our ieport. We are independent of the charity in accordan wNh the elhical requiiements that are levant to our audit of the finxncial slalwents in the UK, including the FRC'S Ehical Standard. and we have fulfilled our other 8thi(l responsibllrfies in accordance with thesè requirements. We bdleve that the audit evidence we have oblalned is SLrffiaenl and appropriate to provide a basis for our opinion. C¢)nclusions relating to golng cone•m In auditing Ihe financial statements, we havé concluded that the council members, use tsf the going concem basis of accounting in th8 preparation of the finanlial staternents is approprfate. Based on the wod( we havÉ perfomied, we have not idenliffed 8ny malerfal uncertaintles relaling to events or conditsons that, individually or Collectively. may cast significant doubt on the thariiy's ability to continu• as a gokng concern for a peTiod of at lea8t tsyefvo month$ from when th• financial slatements are aulhorised for issue. Our resptsnsibilities and the responsibilities of the memborfs counth wilh respoct to going conr are describèd In the relevanl section& of this reporl. Other inlorrnatlon The other information o)mpris89 ihe inlom8tK)n irlUded in the annual report olher than the financial statements and our auditor's rèport thereon. Th& member's council are respon$lble foi the other Infomation eentained w[1"n Ihe anllual report. Our opinion on the financial statements does not cover other inlormalion and we do not express any fomi of assurance conclusion Ihereon. Our responsibility is lo read the other information and. in doing $0, consider whether the other information is mat8ri8lly Ironlstent with the financial statements or our knowledge obtained in the Urse of tha audit. 01 othetwise appears to be materially Misstat1. If we identify such material inconsislencie5 or apparént malerial misstatements, vle are r8quired lo determine whether this gives rise to a mAterial misstatement in th¢ financial statements themsees. If, based tsn the work we have performed, we cnClude that there Is a malwial misstattrment of this other informatlon. we arè requir8d to report Ihat fact. Wè have nothing lo report in this regard.
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY, WEST KENSINGTON INDEPENDENT AUDITOR'S REPORT {CONTINUED} TO THE MEMBER'S COUNCIL OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY, WEST KENSINGTON Matters on whiGh we are roqu1r to roport by gxc8Ptlon We havè rbothing to repDrt in respect of tho following matters in relalioft lo which the Ch8rities (Accounts aThJ Reports} Regulations 2008 fequire us lo report to you if, our opinion.. the informalon given in thè financjal slalemEnls is incnnsislent Ml any material re5Pe¢t wlth the counal members. repDrt", or sulfiuènt accounting records have not been kept-. or the financial slalemÈnts are not in agreement with tho auntIng records- or we have not re1¥&d al tre information and explanations we requlre lor our audit. Re$ponslbllltles of msmberfs coun¢il As explained more fully in the stat8ment of wunGil members, r8sponssbilthes, the members Uncl arè r8sponsible for the preparation ol the financial stalemenls 8nd for beiTrJ salisfied that thèy gwe a true and fair view, and lor such inteinal control as thè mernberfs council detefftiinè is neSSary to enable the prepardlion of financiJl statements Ihal are free from material misslalement, whethet due lo frdud or error. ln pieparing the financial statements, the membei'5 council are re&pDnsible for ass&ssing the Gharty's abiSity to continue as a going >nrn, disdosing, a5 applirAbl8. matter5 related lo going u)ncern and using the going Goncern basis ol accounting unless memberfs council either intend lo ceasè operations. 01 hgve no 1è81istk allernatsv8 but to do sts. Audltorfs r¢$pon8ibllltEe$ for the audEt of thè flnancSal ¥tatements We have been appointéd as aLsdilor under seclion 144 of the Charib"es Act 2011 and report in accordance with IhÈ Act relevant regulations mad8 OT having effect thereu)der. Our objectsvès are to obtsin reasonable assurance about whether the fi[Tral81 slatèmenls as a whole are frèe from material misslaternent, whelher due to fraud or error, and to issue aLJditc¢5 report that indudes our opinn. Reasonable assurance is a high level ol assurance but Is not a guarantee Ihal an audit conducled in accordance with ISAS IUK} will always delect a rnat8rial misstatement when it exists. Missl8lements can arise from frgud or error and 81è considered material rf, individually or in the aggregate, they could r88sonably bg expected to influence the 8conorni¢ deosions of usèrs tsken on the basis ol the$8 finarKial ststements. Irreguladties, ineluding fraud. are Instantss of non<ompllanc? with laws and regulation? We design procèdures in line with our responsibilities, outlined above, lo detect materoal misstatements in resped of iThegularilies, including fraud. The extent to whiGh our procedures are capable of detècting irregularities. indudin9 fraud is detailed below..
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY. WEST KENSINGTON INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBER'S COUNCIL OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY, WEST KENSINGTON The extent to whlch the avdlt wa8 con8id•Md capablg of dotocting Irr•yularlo8 including fraud Our approach to identrfying and ass8ssing the risks tsf material misstatement in rospect of irregLl¥rllies. Includng fraud and non-Gownpliance with laws and regulations, was as follows.. the engagement partner ensured that the engagament team (x)Ileclively had the appropriate Competence, capabilitiés and skills lo idents.fy or recogniso non-compliancé with applic8tAe laws and regulatsons: we idenlrfied the laws and regulations applicablè lo the charity through discussions with UnCIl members and other management, and from OUT knowledge and experience ol the ¢h8rity sector,. we frMsed on spe¢ilc laws and regulations whith we considered may have a direct material effect on the finan81 stalemenls oi the operations of the charity. induding Ihe Charrties Act 2011. tsxalign legislation. data prot&ction, anli-bribery, ernploym&nl and health and safety legislation- we asse55ed the extent of Compliance wlh the laws and regulalions identified above through making enquiries ol management and inspecbng leg81 corresponden., and identified laws and regulations were eommunicaled wrthin the audit team regu18rly and the teom remained alert to instance8 of non-compliance throughout the audit. We assessed the susceptibility of the Gharity's finanri81 statements to material misstatement. including otxaining an undèrstanding ol how fiaud Might occur. by.. making enquiries of management as to wheTe ihey considered there was susceptiblllty to fraud, their knowledge of adual, suspected and alleged fr8ud.' and considerin9 the intemal eontrols in plaTr lo mitr"g818 risks of fi8ud and non-compliance wtth w5 and regulations. To address risk of fraud ihiough managemenl bias and riverrKle ol controls. we.. P8rfomied analybral Pfocedtjres to identify any unusual or vnexpected relati(x)ships', tested journal entri8s to identfy unusual transactions.. assesse¢J whether judgements and as3urr4)tions made in detenninlng the accounling eslim8tes sot oul in note 1.15 We indicative of potential bias.. and investigated Ihe Talionale behind significant OT unusual transaLllons. In response to the risk tsf irregulaTit1&5 and non-comlance Wbth Saws and regulations. we designed procures whith indudèd. but were n¢t limited lo- agreeing fjnancAal stalewtnl disdosures lo underlying supporting 0Mentation- reading the mmutes of meellng$ of those charged with governanTr', enquiring of management as to actual and potential litigation and daims.. and reviewing correSpondere with HMRC. relevanl regulators includin9 the charity commission, fundraising regulator and the charty's 18gal advisors. 10
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY, WEST KENSINGTON INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBER'S COUNCIL OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY, WEST KENSINGTON There are Inherent limilati9Tr5 in our audil procedures de5cfibed abovg. The more removed that law¥ and regulations ale from financial transactions. the less likely Tt is that we would become aw8ie ol non-complisnce. Avditing standards also limil the audil proceduiès r•quired to identify non-eompliance with laws and regulations to enquiry ol the eounal members and other management and the inspection of regulatory arwl 18gal correspondence, if any. Material misstatements that arise due lo fraud can be harder to delecl than those that arlge from ettor as they may involve deliberate concAalment or collusion. A further desuiptlon of our iesponsibiif(ies is available on thts Financ481 Repong COU11'S websitè at.. https-.11 w¥¥w.frc.org.uklauditorsresponsiblliknes. Th18 de8Grfption foms part of our auditor's report. Other matters Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accovnting and Reporting by ChaTlties". Statement of Recommended Piactice applicable to charities preparing their arxounts in accordanco wrth the Finanual Reporting Standard appliGable in Ihe UK and Republic of Ireland IFRS 1021 (as amended) in preference lo the Accouoting and Reporting by Charities.- Statement of Recomrnended Pradice l$sued on 1 April 2005 which is rgfeFrèd to in the extant regulations but has now been wthdrawn. This has been done in order for the financA81 slatemenl$ lo provide a Iwe and fail vi8w in a¢cordance with cur1 Generally ACpted knourrting Practi. •..kn (U 4t. LLf Masud Abdul-Karfm (Senlor Statutory Auditor) for and on behaK of GÈtsffJlades Charalambou & Co LLP 28°Aprfl 2026 Chartered C•rtified Accountants ststutgry Auditor 283 Green Lanes Palm8rs Green London N134XS Georgiades Charalambou & Co LLP is Èligible lor appointrnent as audrtw of the tharity by Mrtug of its eligibility for appointmènt as audrtor ol a company under section 1212 ofthe CompaniesAct 2006.
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY, WEST KENSINGTON STATEMENT OF FINANCIAL AcfiviTIES YEAR ENDED 31 DECEMBER 2025 Gener81 Funds 2025 Re5tritted Funds Total Funds Total Fund5 Notes 2025 2025 2024 Incomt Voluntary income 20,S37 854 28,591 40.588 Activities for generatingfunds 84,659 84,659 83,172 Income from investrnents.. 106,S42 106,842 108,332 Church actSvlties 36,893 36,893 42,770 Totsl Incomlni resources 248,931 8.054 256,985 274.862 Expendlture Churth activitKes 139,839 8.107 147,946 166,417 Raising lunds 92,346 92.346 123,322 Totsl expendhure 232.185 ,107 240.292 289,739 Net{expendlturel lintome before Investrnent iJln51llosses) 16,746 1531 16.693 114,8771 Net1105sllgain5 on investments 1289.0381 1289,0381 404.038 14et leKpendiwrel l income 1272,2921 1531 12r2,34SI 389.161 Transfer between funds Net movemÈnt In fvnds 1272.2921 1531 1272,3451 389,161 Total tunds as at l January 2024 4,187.813 35.665 4,223.478 3,834,317 Total lund5 as at 31 December 2025 3,915.521 35,612 3.951,133 4.223,478 The notes form part of these financial statements. 12
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIAsficAL PARISH OF ST MARY, WE KEN51NGTON BALANCE SHE AS AT 31 DECEMBER 2025 2024 Notes FIXED ASSEts T*8ible fixed assets InvesEment property 1,284,295 2.615,000 3,899,295 1,286,844 2,904,038 4.IY).882 CURRENT ETs Debtor5 Cash at bank and in hand 13.701 69.737 26,185 69,243 TOTAL CURRENT ASSEf5 83.438 95,428 OIEDITORS: Amounts fallin8 due within one year 131.6001 156,1651 NET CURRENT ASSETS 51,838 39,263 CREDITORS: Amounts fa15in8 due after one year io 16.6671 NET ASSETS/ ILiABILITIES} 3,951,133 4,223,478 REPRESENTED BY ', General Funds Restrltted Fund5 14 3,915,521 35.612 4,187,813 35,665 15 3.951.133 4,223.478 Approved by the Parochial Church Council on 28th April 2026 and signed on its behalf bv.. Rev. G l Daly Ilncumbentl The notes form part of these financial stotement5. 13
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY. WEsf KENS5NGTON NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2025 ACCOUNTING POLICIES The PCC is a public benefit entity Wlthln the meanlng of FRS 102. Accordingty the financial statement5 have been prepared under the Charities Act 2011 and in accordance with the Church Accounting Begulations 2(K)6 governin8 indlvldual account5 of PCC'S and with the said Regulations true and fair provisions, together with FRS 102120161 asthe applbcable accounting standards and the 2019 version of the Statement of Recommended Practice, Accounting and Reportin8 by Charities ISORP IFIiS 10211. The fbnancièl statEment5 have been prepared underthe historical cost convention and include all transaitions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church 8fDUPS that owe their main affiliation to another body, nor those that are informal gaiherings of church member The financial statemenls are prepared in sterling which is the functional currency of the PCC. Monitory amounts in the financial statements aTe rounded to the nearest £. 1.1 Goln8 concern The Trustees have assessed whetherthe use of the 80ing coneem basis 15 appropriate and have con5Trd£red POS54ble events or conditions thèt might cast doubt on the ability of the Pccto continue a5 a going concem. Naving 35sessed the PCCS foiecast anil projettlons, the Trustees have concluded that the Church has sufficient resources to corttiriue In operatOnal existence lor the foreseeable future and consequently It appropriate to continue to adopt the going concein basis in prepIng it5 firbanci31 statements. l.Z Fynd5 General funds represent the funds of the PCC that are not subject to any restrittlons regardlng their vse and are avallable for 3pplicatSon on the general purposes of the PCC. Restricted funds represent lal income from trusts and endowments which may be expended only on those reStCted objects provided in the terms of the trust or bequest. and Ibl donations or grants ieceivÈd for a specific object or invited by thÈ PCC for a specific object. The funds may only be expended on the speciflc object forwhich they were given. Any balance remainin£ unspent at the end ol each year must be carried forward as a balance of that fund. The PCC does not usually invesr separately for ea(h fund. 1.3 IncomlnR soUrCeS Voluntary income. including planned giving. (ollectlons. legacies and donations are rocognised where there is entitlement, certainty of receipt and where the amount can be measured with sufficient ieliability. Tax relunds are recognised when the Incoming resource ro whiih they relate is receivable. Grants to the PCC are accounted for as soon as the PCC is notified ol its legal entitlement, Ihe amount due 15 qUantifab1e and its ultimate receipt by the PCC is reasonabty certain. Such income is only defeTred when-. al The donor 5pecifio5that the grant or donation must only be used in fijture accounting period5. bl The donor has imposed conditions which must be met before the charity ha5 unconditional entitlement. IncDme generated from fund raising attivities 15 recognSsed when earned. 14
TrIE PAROCHIAL CHURCH COUNCIL OF THE ECcLESIAlCAL PARISH OF ST MARY, WE¥f KENSINGTON NOTES TO THE FINANCIAL sfATEMENTS YEAR ENDED 31 DECEMBER 2025 ACCOUNnN6 POLICIES IContlnuÈdl 1.3 Incomin8 resou5 I contSnuedl Gifts given for conversion into cash are included as receiydble and, where matefial, an adjustment made pon subsequent reali5ation of the gift. Where the PCC receives 8oods and services in kind. then in the Interest of transparency. these are included at the value to the PCC where QUatif5ab1e. where the PCC receives donated a55etsthese are recognised at their fairvalue a5 determined by the trusteos at the lime of the transfer. All other income is recognised when it Is receivable. All incoming resources are accounted lor gross. Legacies are recognised on receipt or otherwise if the PCC has been notified of an impendine distribution, the arnount Is known, and recpt is expected. If the amount is not known. the legacy 15 treated as a contingent asset. IA Resour¢Ès expended Liabilities are recognised 35 Tesources expended a5 soon as there Is a legal or construclive ouigation committing the Pccto the expenditure. All expenditure is accounted for on an accruals basis anij has been cl355ified under headings that aggregate all costs related to the category. Grants 3nd donations are attounted for when paid over or when awarded, rf that award creates a binding or constructwe obligation to the PCC. The diocesan common fund is accounted for when payable. Any common fund unpaid at 31 December is provided in these accounts as an operational (though not a le8all liabilitv nd Is shown 35 a creditor in the balance sheet. Irrecoverable VAT is charged against the category of resources expended for which it was incurred. 111 Cosr of ralsing funds These relate to those speclfic costs incurred in renting and maintaining properties or church facilities whlch may be sub-let by the PCC durin8 any part of the year. 1111 Chailtable artlvltlès These costs relate to those specifK direct costs incurred by the PCC in older to promote the mission of the church within the parish. These costs also It)clude those specific direet costs incurred in maintaining and developing the churth bulldin8. Charitable costs also include Costs relating to public accountability of the PCC and its compllance with regulation and good practice 1.5 Fixed assets 111 tand and builrfin8s and other church property The PCC belnE an Ecclesiastical Corporation b5 exempted under settion 10 of the Charrcies Act 2011 from accounting for ecclesiastical property (including consecrated or benefico property). Moveable thurch ftjrnishings held by the Vicar and Churchwardens on Special Trust for the PCC and which requlre faculty for disposal are accounted for as inalienable property unless consecrated. The Vicar's accommodation 15 held in trust by The London Diocesan Fund on behalf of the PCC. The property 15 essential For the Mission of the church and no value has been placed on it as there is no likelihood of the property being realised. Is
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLE51ASTICAL PARISH ST MARY. WEST KENSINGTON NOTES TO THE FINANCIAL ATEmENTs YEAR ENDED 31 DECEMBÉR Z025 1.6 Depreclatlon of fixed assets Funttlonal tangible assets used for the work ol thE PCC are depreciated over their estimated useful lives as follows.. Computer and musical equipment OffKe lurniture & equipmert on a 5tr6ight line basis over 3 years 25% reducing balance ba515 Purchases of functional fixed assets cvsting less thèn £SIKI are written off to the Statement of Financial Activities. Tangible f(%ed asset5 include freehold land and buildin85. The proportion of the property use(1 for functlonal purposes le5timated to constitute 75% of the building areal srfcuated at 3 Edlth Road is stated at the f8ir value of the property when it wa5 donated to the PCC. Depreciation is prowded on the value of the freehold property Iless the value of the land and the estimated resldual valuel over its Useful life at the rate of 2% per annum. The prOportn of the property situated al 3 Edith Road, is regarded as functional property this part is only used by or let to members of the con8re8ation who provide assistance to the church. 1.7 Impalrment of fixed assets At each reporting end date. the PCC review5 the carrying amounts of S tangible assets to determine whether there 15 any indicarion rhat those assets have suffered an impairment loss. If aThy Such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the Smpaimient1055 lil any). 1.8 Investment propertles The propertie5 Sltuated at 72 Edith Road and the basement flèt at 3 Edith Road. held primarily fortheir investment potential and to generate income. are sted at open maet. The properties are valued annually by the Trustees. wlth any gains or losses taken to the SOFA. 1.9 Pension scheme rhe PCC operates a defined contribution pension scheme. Contributions payable to the PCC'S pension Scheme are charged to SOFA in the per6od to which they rele. 1.10 tssh and cash equivalents Cash and cash equbvalents include cash in hand. deposlrs held at call with banks, other 5hort-term liquid Invesrments with origlnal maturities of three months or less. and bank overdrnfts. Bank overdrafts are shown within borrowings in curreni Ilabilitie5. 1.11 Flnanclal instruments The PCC has elected to apply the provisions of Section Il'Basic Financial Instruments, and 5ecrlon 12 '0ther Financlal Instruments issues, of FRS 102 to all of its financial instruments. Flnanclal instruments are recognised in the PCC'S balance sheet when it becomes party to the contractual provisions of the instrument. Financial assets and Ilablllties are Dff5Et, with the net amounts presented in the financial 5tateffjents, when there is a legally enforceable right tts set off the recogni5ed amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability 5imultaneously- 16
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIAsncAL PARISH ST MARY. WEsf KENSINGTON NOTES TO THE FINANCIAL STATEMEKrs YEAR ENDED 310ECEM8ER 2025 1.12 Baslc financial assets BÈ51t flnanclal assets. which include debtor5 and cash ènd bank balances, are inbtially measured at transaction price including transaction costs and are subsequently carried at amrtlsed cost LJ5ing the eflective interest method unle55 the arrangement constitute5 a financin8 transaction. where the transaction is measured at the present value of the future receipts discounted at a markÈi rate of interest. Fihancial assets classified as CeIVabLe withrn one year are not amortised. 1.13 Basic financlal Ilabllltle5 Basic financial liabilltie Including creditors and bank loan5 are initially reCOgned at transaction prlce nless the arrangement constitutes a financing transaction, where the debt instrument Is mÈasured at the presèntvalue of the future payments discounted at a market rate of lftterest. Financial liabilitie5 cla55ified a5 payable within one year are not amort15ed. Debr instruments are subsequently carried 3t amortised cost. using the effective Interest re meth(MS. Tr*le treditors are obligations to pay for good5 or 5ewvices that have been acquired in the ordinary course of operations from Suppliers. Amounts payable are Classlfled as current Ilabilities il payment is due within one year or less. If not. they are presented as non-current liabilitie5. Tiade creditors are recogni5ed initially at transartion price and subseovently rneasured at amorti5ed cost usin8the effertive interest method. 1.14 Derecognltlon rjf financlal liabilltles Flnancial liabilities are derecognised when the Pcc'scontractual obligations explre or are discharged or cancelled. I.IS Cfklcal a¢countln¥ Èstlmates and judgements In ihe application of the PCC'5 3£coiintin8 policie5, the Trustees are required to make ludgéments, estimates and assumption5 about the carrying amount of as5et5 and liabilities that are not readily apparent from other 50urtes. The estimate5 and associated a55umption5 are based on historical experience and other lattors that aTe considered to be relevant. Artual results may differ from these estimates. The estimates and underlying as5umption5 are reviewed on an ongoinE basi5. Revisions to accountlng estimdt are recognised in the period in which the estimate is revised where the revision afleits only that period, or in the period of the revision and future periods where the revision affect5 t)oth current and future periods. 17
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY, WEST KENSINGTON NOTE5 TO THE FINANCIAL STATEMENTS YEARENDED 31 DECEMBER 2025 I. INCOME General Funds Restritted Fund Total Total 2024 2025 1.1 Voluntary Intome Planned giving.. Covenants and gift aid donations Tax recoverable Uncovenanted and non 6ift aid donations Sundry offerings Youth Groups Missionary siving Other voluntGry Jrtcoming resources Grants 11,511 3.311 5,389 326 11,511 3,311 8,008 326 14,993 4,847 6,650 25 2,619 864 165 5,435 5,43S 13,044 20,537 8,054 28,591 40.588 22 Attlvlttes lor generatlnff funds Rent from functional property Car park and gara8e 46.479 38.J80 84,659 46,479 38.180 84,659 42.767 40,405 83,172 2.3 IncLime Irom Investments: Rent from investment propertv UK Bank interest 104.819 104.819 2,023 106,842 104,995 3,337 108,332 2,023 106,842 2.4 Church ACtivtieS Fees (Met of LDF proportion) Letting of church hall Sundry income 824 36.9 824 36.069 4L146 1.180 42.770 36.893 36,893 248,931 8.054 256,985 274,862 18
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASficAL PARISH OF sr MARY, WEsf KENSINGTON NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2025 ExPENDUl1F General Funds Re5trieted Fund Tot81 Totsl 3.1 Church adivkle5 2025 2024 Iincluding 5upptsrt costs-see note 4.11 External & charftable giving Worship, pastoral & discipleship work Church serviies Cornmunity & Children's Work 1,3(X) 49.212 69.869 19,458 270 1.570 51.521 71.069 23.786 1.140 47.119 73.402 44.756 2.309 1,2LK) 4,328 139,839 8,107 147.946 166,417 32 Rè151ng funds lincluding support cosis-see note 4.11 C0510l renting and maintaining properties Sub-let by the PCC Cosr of rentiThg Church Hall Fundraising costs 58,117 15,883 18.346 58.117 15,883 18,346 75,311 21,117 26,895 92,346" 92,346 123,322 SUPPORT COSTS The charity Initial identifies the costs of its supporr functiuns.1t then identifies those costs which relate to the 8ovemance function. Having identified its 8ovemance tosts, Ihe remaining support C05ts are apportioned between fundraising and church activiti@s undertakÈn in the year. Refer to the table below foithe basis of apportionment and the analysis of support and governance costs. Basis of allocatlon Support Costs 2025 2024 Governance Total Total Statt costs Oflice overheads Building & site maintenance Audit & accouniancy fees APCM and PCC govemance c05t5 rime Usage Usage U5a8e Llsage 10,269 7,512 19,109 8,598 18.867 7,512 19,109 12,035 2,878 29.703 7,766 38,993 12.508 6,720 12.035 2,878 36,890 23,511 60,401 95.690 19
THE PAROCHIAL CHURCH COUNaL OF THE ECCLESIASTICAL OF ST MARY. WEST KENSINGTON NOTE5TO THE FINANCIAL STATEMENIS YR ENDED 31 DECEMBER 202S 4,1 SIJPPORT COSTS Icontlnuedl Building Office & site Overheads maintenance 2025 Total 2024 Salaries Governante Total Church Artivities Worshiy, pastoral & discipleship work Church services 1.027 3.081 751 1,911 5,733 2,351 7,053 6,040 18,121 9,569 28,70? 2,254 Community & Childn,5 Work 3.080 7,J88 2,254 5,259 5,732 13,376 7.054 16.458 18.120 42,281 28,707 66,983 Buildirbg & site office Overheads MaInnanCe 2025 Total 2024 Total Salaries Governance Cost of Eeneratlng funds Fundraisin8 C05t Cost of renting Church Hall Cost of maintaining properties sublet by the PCC 924 676 1,720 2,293 2,351 2,351 5,671 6,778 8.936 10,835 1.232 902 925 675 1,720 2,351 5.671 8,936 3,081 2.253 5,733 7,053 18.120 28,707 Total 5UPPOrt costs 10.269 7.512 19,109 23.511 60,401 95.690 4.2 STAFF cosrs 2025 2024 Salèrles and related costs Ilncluding cler8y costs) Social security costs Pension cost 127,162 134,824 435 1,165 127,597 L3S,989 Of the to1 salary costs above, £18,86712024.. £29.70313re included within 5UPPOrt Costs lincludlng governance Co$>. wilh the balance of £108,70312024'. £106,286) chargod directly to attributable charf(able attivities. The average number of staff employed throughout the year was 312024.. 31. None of the employed staff earned more than £60,000 per annum. Sèlaries incorporate the cost of the clergy lincludin8 associated training and hou51n8 Costs) and have been alSo¢ated across expense headings based on estimated proportion of tTrme occupied on each luKction. The PCC pald £90,000 35 part of the quota payable to the London Dioce5e12024.. £75,100). Durin8 the yearthe Vicar wa5 reimbursed £96312024., £Nill for travel and hospitallty expenses inCurd in connection with carrying out his duties. 20
THE PAROCHIAL CHURCH COUNCIL OFTHE ECCLESIASTICAL PARISH OF ST MARY, WEST KEN51NGTON NOTES YO THE FINANCIAL STATEMENTS YEAR ENDED 31 D£CEMBER 2DZ5 5. NET INCOMING RESOURCES 2025 2024 Net incoming resources ore stcted uftercht7rginq.' Accountancy fees- FinaTKial statemtS Accountancy fees- Other seNices Auditors, remuneration- audti DÉpreciation 5.160 875 5,460 6.000 3,S54 6.000 3,404 6. TANGIBLE FIXED ASSErs Office eoulpment LatKI and buildings Freehold land and bLFildlngs-held for the PCC'S own use. Total C05t Opening balance l January 2025 Addition5 in year C105tng balance 319ecember 2025 3,396 1.005 4.401 1,312.500 1,31S,896 I,IM)5 1.316,901 1.312,500 Depreclatlon Opening balance l January 2025 Charge for year Closing balance 31 tlecember 202S 2,802 929 26,250 2,625 28.875 29.052 3,554 32,606 3.731 Net Book Value At 31 December 2025 670 1,283,625 1,284.295 At 31 December 2024 594 1,286,250 1,286,844 Tangible fixed a55et5 consisE of a Ireehold property and cornputer equipment. The property situated at 3 Edith Road. 15 partly used for functional purposes. with the basement flat let commercially. The proportion of the property Ltsed for functlDnal purposes has been determined as 75% of the total area and theiefore this proptsrtlon ol the property is stated at cost. The property was capltaltsed at fairvalue, as determined by a profelOnal valuation of the property followinB the trènsferof the asset to the PCC by St. Mary's Churth House Trust on 4th December 2014. Depreciatitsn is provided on pmperties on a straight line basis at the rate of 2% per annum on the capitallsed value of the property lexteptthe value of the landl less its estlmated residual value and the end of it5 expect useful life. 21
THE PAROCHIAL CHURCH COUNCIL OF ECCLESIASTICALPARISH OF 5T MARY, WEST KENSINGTON NOTES TO THE FINANCIAL5TATEMENTS YEAR ENDED 310ECEMBER 2025 INVESTMENT PROPERTIES 2025 2024 Atvaluatlon.. Opening balance l January 2025 Revaluation in year 2.904,038 1289.0381 2,500,000 404.038 Closing balance 31 December 2025 2.615,0(M) 2,9(H,038 The year end value of the properties sltuated at 72 Edith Road and 3 Edith Road, London.W14 OSU were determined by the Trustees on an Dpen market value basis. The valuation for 3 Edith Road, relates to the proporticn of the property being held for V(5 inve5ttnent potential and for generatin8 rental income. DEBTORS 2025 2024 Taxation recovernble Accrued income and prepaid expenses 5,589 8,112 13,701 3,450 22.735 26,185 CREDITORS.. AMOUNTS FALLING DVEwrrHIN ONEYEAR 2025 2024 Taxation, Social secvrity and pensions Monies received in advance Other credrtor5 and accruals. 326 343 2.810 16.798 27.917 21,239 6.666 Loan from Diocese Other Loan (see note 181 31,fOO 56,165 10. CREDITORS: AMOUNTS FALLING DUÉ AFTER ONE YEAR 202S 2024 Loan frorn Diocese 6,667 6,667 The above loan is repayaNe in thTee equal annual installments frorn July 2024. IL PENSION COMMITMENTS The PCC operates a defined contrlbutlon pension scheme lor it5 employees. The assets of Ihe scheme are held Separately frorn those of the PCC. Atthe ba13n£e sheet date £142 was due to the fund12024.. £2311. 22
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY. WEST KENSINGTON NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2025 12. CApifAi COMMITMENYS At the year end date there were no unprovided capltal commitments for whlch the PCC had author¢sed or contTarted for12024.. £Nill. 13. ANAiYSIS OF NET ASSETS BY FUND General Restricted Total Funds Funds 2025 Fixed assets 3.899,295 47,826 I31,6} 3,915,521 3.899.295 83.438 131,6001 3,951,133 Current a55ets 35,612 Creditors Fund balance 35.612 14. GENERAL FUNDS General Fund5 comprise those funds which the PCC Is free to use in order to further the work of the Church. Funds Surplus I Funds Brought Forward Carrled in year Forward Accumulated funds Churih -operating reserves 19,468 19,468 19.371 19,371 38,839 38.839 Investment property reserye 2,882,095 2.882,095 1289,0381 1289,0381 2,593,057 2,593,057 Funttional property serve 1.286.250 1,286,250 12,6251 12.6251 1,283,625 1.283,625 Total 8eneTal funds 4,187,813 1272,2921 3,915,521 Churth reserves represent the free reserves of the PCC. Investment property resee5 relate to the unrealised surplu5 attributable to the let part of the property situated at 3 Edith Road and the entire let property Sltvated at 72 Ediih Road. Funttional property reseNes relate to ihe capitali5ed proportion of the property situated at 3 Edith Fload used by the PCC. 23
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY. WEST KENSINGTON NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 310ECEMBER 2025 15. RESTRicfED FUNDS Funds Brought Forward Funds Receiveil in year Funds used Carried Forward Children'5 worker 5,435 4.328 1,107 Kitchen and flower room refurbishment fund 6,305 1.200 5,105 Church Refitrrblshment 5,648 5,648 Chvrch weekend lund 143 143 splfi¢ missionary Sound Systern 270 270 20.155 20,195 Outreach fund 3,414 3,414 Vicara8e bi115 2,309 2.309 35,665 8,054 8.107 35.612 Children'5 worker.. ThSs refers to donations received to cover the cost of the chlldren's worker salary and expenses. Kftichen andflower room relurbishmentfund.. Thi5 fund relates to monie5 received speclflcal iowards the refurbishment and up8rade ol the church kitchen and flower room. Church Refvrbi5hment.. This relates to monies received toward5 replacemenvrefurbishment of the church chairs. Church weekend.. Th15 fund relates to the unexpended monies collected for the church weekend. Specific missiont7ry = This relate5 to monies specthcally collected and expended for mission giving. the details of which can be found in note 17. Soundsystem.. This relatesto monies collected towards the installation of a sound system. Outreoch Fund.. This relatesto monies collected towards outreach activlries of the church. Vicorage 8i11s.' Thi5 relates to a 8rant from HolyTrinity Brompton to cover t*e costs of a VKara8e EDF bill. 24
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY, WE KEN51NGTON NOTES TO THE FINANCIAL sfATEMENTS YEAR ENDED 31 DECEMBER 2025 17. GRANTS During the year, the PCC made the following external and charitable 8iving= To UKorgunls•tlons ondlnd1v1dt1s.' Tear Fund 300 300 300 CMS csw Baron'5 Court Proje Shelter Comrnunity Bishop's Discretionary Fund Overseos Mlsslons 300 loo 270 GLO Total 1,.570 18. RELATED PARTIES As permitted by the provision5 of srftion 3a of the Parochial Church Councils IPower51 Measure 1956. no members of the PCC were remunerated during the year in their capacity as employees of the Church. Donatlons received frorn related parties Ipcc Members) for the year totalled £4,58012024-. £7,532). Cfeditors include £5,C4JO owed to Ele8rr Davies (Treasurer and PCC memberl for an interest Iree loan received in the year under review. The amount owed wa5 fully repald after the year end. 25