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2024-12-31-accounts

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESISTICAL PARISH OF ST PETER AND ST PAUL BATTERSEA Diocese of Southwark

Charity Registration no. 1140137

Annual Report & Accounts 31 December 2024

Tandem Accounting Chartered Accountants 17 Heathville Road London N19 3AL

THE PARISH OF ST PETER AND ST PAUL BATTERSEA

Report and Financial Statements 2024 Contents

Page
Legal and administrative information 2
Report of the Parochial Church Council 3
Independent Examiner’s report to the Parochial Church Council 8
Statement of financial activities 9
Balance sheet 10
Notes to the financial statements 11

1

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PETER AND ST PAUL BATTERSEA

Legal and Administrative Information For the year ended 31 December 2024

Charity Name The Parochial Church Council of the Ecclesiastical Parish of St Peter and St Paul, Battersea. Principal Address 23 Plough Road, London SW11 2DE. Charity Registration 1140137. The Parochial Church Council (PCC) was registered with the Charity Commission on 1 February 2011. Governing Document Parochial Church Council Powers Measure (1956) as amended and Church Representation Rules. Objectives St Peter & St Paul’s PCC has the responsibility of cooperating with the Incumbent of St Peter’s in promoting in the ecclesiastical parish the whole mission of the church, pastoral, evangelistic, social and ecumenical. It also has maintenance responsibilities for the St Peter’s Centre on Winstanley Road. Members of the PCC PCC members who served during 2024 or were serving at the date this report was approved were: Clergy Revd Ian Luke-Macauley Wardens Dr Ken Checinski Ms Funmi Kola-Okeowo (until 21/04/2024) Dr Wendy Maull (from 21/04/2024) Deanery Synod Representative Mr Peter Wolstenholme Elected or Co-opted Members Mrs Joseline Tinka Mrs Verah Gondwe Ms Helen Oakley Mr Ashwini Alexander Ms Francesca Bascoe (from 21/04/2024) Ms Alba Lajaz Mrs Daphne Curate Mr Pino Amarteifio Ms Smedah Gondwe Mr Richard Lawrence (from 25/05/2025)

Key Management Personnel

Those in charge of planning, directing, controlling, running and operating the Charity, including those members of staff who are the senior management personnel to whom the PCC has delegated significant authority or responsibility in the day-to-day running of the charity, are the Vicar, members of the Standing Committee and the Operations Manager.

Bankers

CAF Bank Ltd 25 Kings Hill Avenue Kings Hill, West Malling Kent ME19 4JQ

Independent Examiner

John Helm ACA Tandem Accounting 17 Heathville Road London N19 3AL

2

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PETER AND ST PAUL BATTERSEA

Report of the Parochial Church Council For the year ended 31 December 2024

The Parochial Church Council of the Parish of St Peter and St Paul Battersea (“PCC”) submits its report and the financial statements of the PCC for the year ended 31 December 2024. The financial statements have been prepared in the format prescribed by the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP2019 (FRS102)) and the Financial Reporting Standard 102. The legal and administrative information set out earlier in this document forms part of this report.

1. Structure, Governance & Management

1.1 Trustees

The PCC meets approximately 8 times per annum to discuss a full range of matters, both operational and strategic, relating to finance, fabric, general administration and the mission/ministries of the church. The PCC also has responsibility for keeping of the Electoral Roll. Members of the PCC are either ex officio or elected by the Annual Parish Meetings (APM) in accordance with the Church Representation Rules.

The method of appointment of PCC members is set out in the Church Representation rules. All church attendees are encouraged to register on the Electoral Roll and to stand for election to the PCC.

1.2 Church Attendance

The Electoral Roll revised in preparation for the 2024 Annual Parochial Church Meeting (APCM) in April 2024 comprised 54 members. Average weekly church attendance has been 50 (38 adults, 12 children).

1.4 Risk Management

The PCC’s primary concern and objective is the glory of God. Whilst it is the PCC’s policy to trust wholly in the Lord that He will work out His purpose to this end, the PCC also acknowledges that it has a responsibility, both as individual members and as a body of members, for the identification and proper management of risks faced by the church in achieving its primary aim. The PCC has therefore assessed the major risks to which the church is exposed, in particular those relating to the specific operational areas of the charity, its investments and its finances. The PCC believes that, by monitoring income, expenditure and reserve levels, by ensuring that controls exist over key financial systems, and by examining the operational risks faced by the PCC, it has established effective systems and procedures to mitigate those risks.

Safeguarding

At St Peter's church, we are committed to provide a safe and welcoming environment for children, young people, and vulnerable adults. Safeguarding is at the heart of our ministry, reflecting the love of Christ and ensuring that all who worship, serve, or visit are protected and valued.

We are blessed to have three Parish Safeguarding Officers. They are Ken Checinski, Verah Gondwe and Joseline Tinka, who meet online and in person to keep up to date with any safeguarding matters.

We have on occasions liaised with Diocesan Safeguarding Team, who have been helpful with sharing advice on how to deal with some of the safeguarding concerns.

Our Achievements:

• Our church was able to complete and submit the safeguarding audit in March

• We took an active part in Safeguarding Sunday on 17th November 2024

• We practised safe recruitment of our new staff members and volunteers. This included application forms, references, interviews, and DBS

• There is greater visibility of safeguarding information through posters, announcements, and digital platforms.

• Safeguarding has been a standing agenda on our PCC meetings

We recognise that we have areas for Growth such as the need for refresher training among longer serving volunteers.

3

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PETER AND ST PAUL BATTERSEA

Report of the Parochial Church Council For the year ended 31 December 2024

In conclusion, Safeguarding remains a shared responsibility. We strive to create a church where every person feels safe, valued, and able to flourish in faith. We have complied with their duties under section 5 of the Safeguarding and Clergy Discipline Measure 2016.

Quinquennial Report

The quinquennial report was completed and received in January 2024 and it recommended the tasks that should be completed within 12 months, 2 years and 5 years respectively. A presentation was made to the PCC in March 2024 and approval obtained to fund and complete the few priority items for the Church and the Church Centre, alongside ongoing maintenance work. All recommendations due to be completed within 12 months, have been completed. However, due to the departure of the Facilities Co-ordinator in August 2024, there has been a delay in progressing other recommendations, but we remain guided by this important document. Though the report states that: “This is a summary report; it is not a specification for the execution of any work arising from the report and must not be used as such” the PCC remains responsible for ensuring compliance with all recommendations before the next quinquennial inspection is due in 2029.

2. Activities & Strategies

In preparing this Report, the PCC has complied with the duty in section 4 of the Charities Act 2006 to have due regard to public benefit guidance published by the Charity Commission and have sought to demonstrate that the PCC provides identifiable benefits which relate directly to its aims and which outweigh any potential detriment or harm. Further, the benefits are publicly available to all and are not in any way restricted to those able to pay. Any private benefits to members of the PCC are incidental.

To this end the PCC organises the following activities in order to enable ordinary people to live out their faith as part of our parish community:

3. Review of the Year

In May 2024 our new PCC which included 3 new members, assumed the reins along with the Vicar to promote our Mission Action Plan and ministry in the Parish.

June and July saw us working towards GLB in terms of outreach while also attending to some discipleship activities.

In August we had a weeklong summer activity for the children which was thoroughly enjoyed by both children (not sure whether they simply wanted a break from their parents) and the parents (not sure they simply wanted a break from the children) but it was a win-win.

This led to a well-deserved break for our children and youth volunteers before resuming in September.

We hosted our Deanery confirmation in September which was the largest held in the deanery so far as 22 candidates were confirmed. It was a joyful occasion as 6 churches were involved.

Also in September we took part in the Battersea festival which is also a key part of our community engagement.

Another highlight which involved lights was our light party in October (our alternative to Halloween) where we entertained about 30 children.

In seeking to be diligent in studying the Word, we embarked on a group Bible study both in person and online, studying the book of Ruth over four months from Oct- Jan 2024.

4

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PETER AND ST PAUL BATTERSEA

Report of the Parochial Church Council For the year ended 31 December 2024

Christmas activities saw us hosting a range of events, some traditional and some in the community (carol singing and gifts distribution in a local residential housing) as we shared the joy and love of the season.

January to April 2024 events and ministries culminated with our Easter celebration which included an outdoor service on Good Friday and Easter Sunrise Holy Communion.

I wish to say a massive thanks to our dedicated staff team and growing team of volunteers especially as we are running with two vacancies (Children’s Pastor and Facilities Co-ordinator).

Thankfully, we are aiming to recruit to the Facilities Co-ordinator as interviews are pending but financial challenges suggest we will need to continue to pray and think creatively about how we deliver this service of the Children’s Pastor role on a voluntary basis in the interim. Currently, Emma is covering this vacancy with the support of volunteers.

One area that needs our prayers and concerted efforts (or sacrifice) is around our finances which the Treasurer will report on. It is of concern that the trend of deficit continues and requires prompt action before things get worse.

On the whole, as I look back over the year, I greatly rejoice over the growing involvement of members to play their part on the Sunday rota which is now established as a three-monthly feature providing diverse opportunities for ministry.

Our worship team and the community choir continue to grow in strength and ministry as we look forward to more people playing an instrument to enhance our worship.

Our Wardens have shown great dedication to their roles and have been of great support to me and the Church.

As we are electing a new PCC for a new three-year term (at the time of writing this report) I don’t as yet know who is staying and who is leaving the PCC but I sincerely thank the whole PCC for giving up their time to serve on the PCC and on other sub-committees; enduring some long and detailed meetings and the fellowship we have shared over the past year. I hope this serves as a strong foundation for the new PCC.

In conclusion, we don’t pride ourselves in being busy but in seeking to be faithful to the Lord who calls us to serve Him in diverse ways within the diverse body of Christ in which we are placed.

To Him be glory for ever and ever. Amen.

Revd Ian Luke-Macauley

Vicar St Peter’s Battersea, Area Dean of Battersea

4. Financial Review

4.1 Financial Activity and Financial Position

This year returned a net deficit of £197,262 (2023: deficit of £79,661).

In terms of the overall financial position, the balance sheet shows total net assets of £2,960,480 (2023: £3,157,742). Of these funds, £799,252 (2023: £815,410) are restricted, which mainly comprises the St Peter's Centre funds.

In 2024 the church incurred unusually high energy costs under a three-year supply contract with British Gas (running until September 2026). The church’s costs were £54k (2023: £40k) and the Centre’s costs were £21k (2023: £19k). Analysis shows that these costs are driven by a combination of elevated daytime tariffs , high standing and capacity charges, and also higher-than-expected consumption in the church's new building. Comparable church settings might typically incur £18k–£22k annually; actual costs of £75k therefore represent an excess of around £55k. The PCC acknowledges that the full implications of the contract terms and likely usage were not fully appreciated when it was entered into. Steps are being taken to reduce consumption including improved heating control, replacing lighting with LEDs, and monitoring equipment left running overnight. When the contract comes up for renewal, the trustees will adopt stronger governance procedures, including seeking independent advice from an energy broker, obtaining competitive quotes, and closely monitoring usage throughout the year, to ensure that future arrangements are cost-effective.

5

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PETER AND ST PAUL BATTERSEA

Report of the Parochial Church Council For the year ended 31 December 2024

4.2 Reserves Policy

The PCC has examined the requirements for free reserves, i.e., those unrestricted funds not invested in tangible fixed assets. The PCC considers that, given the nature of the church’s work, free reserves should be equivalent to approximately 6 months’ routine general fund expenditure, plus committed future expenditure on other projects, where funds permit. The PCC is of the opinion that this provides sufficient flexibility to cover temporary shortfalls in income and will allow the church to cope and respond to unforeseen emergencies whilst specific action plans are implemented. At 31 December 2024 the church had net free reserves of £258,737 (2023: £317,203) as follows:

Total reserves
Less: restricted funds
Less: tangible fixed assets
Less: fixed asset investments
Free reserves
Free reserves requirement:
6 month’s budgeted routine expenditure		 2024 2023
£
3,157,742
(815,410)
(129)
(2,025,000)
£
2,960,480
(799,252)
(2,491)
(1,900,000)
317,203
258,737
150,000
150,000

4.3 Pay Policy

The pay of all staff, including key management personnel, is reviewed annually by the PCC. Salaried members of the PCC are excluded from the review in order to avoid any conflicts of interest. It is our expectation that we will continue to benchmark staff benefits against staff performing similar roles in similar churches/charities and will take into consideration inflation and the finances of the church at the time.

4.4 Investment Policy

The church currently places spare funds on bank deposit.

4.5 Grants Policy

The PCC makes annual grants, equivalent to 10% of its unrestricted income (which includes gift aid claimed back and rental/investment income), to support missionary endeavours both in the UK and abroad. The missionary societies regularly supported include International Justice Mission, Regenerate, Battersea Welcomes Refugees, GlassDoor and Open Doors. In addition, the PCC makes anonymous love gifts, at the discretion of the leadership, to those in need within the church fellowship. Currently the PCC has agreed to pause 10% mission giving policy until the deficit has been reduced sufficiently. This is due to be reviewed in due course.

5. Plans for Future Periods

St Peter’s was officially provided with its licensing seal in May 2024 which means we can now offer the full range of services to the parish. As well as Worship services, funerals and Baptisms we look forward to resuming the reading of banns of marriage and the provision of wedding services.

The PCC is now focussed on a new Mission Action Plan to listen to and enact some of the parish’s priorities for Loving God, Being Family and Bringing Hope to Battersea.

6. Going Concern Consideration

Each year it’s the PCC’s responsibility to state whether or not the annual accounts have been drawn up on a going concern basis (see the accounting policy note on page 10). Going concern is the assumption that an entity in this case the PCC, has the resources (financial or otherwise) needed to continue operating for the foreseeable future and, in

6

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PETER AND ST PAUL BATTERSEA

Report of the Parochial Church Council For the year ended 31 December 2024

particular, for at least 12 months from the date of approval by the PCC of these annual accounts. If the going concern principle did not apply then the accounts would be drawn up on an insolvent basis.

Whilst there are pressures on the finances, with a reduction in giving, the PCC has concluded that it is appropriate to prepare the 2024 Accounts on a going-concern basis.

7. Responsibilities of the Parochial Church Council for the Financial Statements

The PCC is responsible for preparing the report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. Charity law in England and Wales requires the PCC to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the PCC and of the income and application of income of the charity for that period.

In preparing those financial statements, the PCC is required to:

The PCC is responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enables them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports Regulations 2008) and the provisions of the governing document. The PCC is also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The PCC is responsible for the maintenance and integrity of the charity and financial information included in the charity’s website.

8. Approval

The report of the PCC was approved by the PCC on 21 October 2025 and signed on its behalf by:

Revd Ian Luke-Macauley Chairman

7

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PETER AND ST PAUL BATTERSEA

Report of the Independent Examiner to the Parochial Church Council of The Parish of St Peters Battersea

I report on the accounts of the Parochial Church Council of St Peter and St Paul Battersea for the year ended 31 December 2024, which are set out on pages 9 to 19.

Respective responsibilities of PCC and examiner

The PCC are responsible for the preparation of the accounts. The PCC consider that an audit is not required for this year (under section 144(2) of the Charities Act 2011 (“the 2011 Act”)) and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiners’ report

My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and the seeking of explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.

Independent examiners’ statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the church as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

John Helm ACA

21 October 2025

8

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PETER AND ST PAUL BATTERSEA

Statement of Financial Activities For the year ended 31 December 2024

Note
Income from:
2
Donations and legacies
Charitable activities
Other trading activities
Investments
Other
Total Income
Expenditure on:
Raising funds
3
Charitable activities
4
Total expenditure
Net gains/(losses) on
investments
Net (expenditure)/income
5

Transfers between funds
Other recognised gains and
losses

Net movement in funds

Total funds brought forward

Total funds carried forward
 Unrestricted
Funds
2024
£

31,410
985
42,539
155,461
3,419		 Restricted
Funds
2024
£
5,705
-
-
11
-
5,716
7,346
9,471
16,817
-
(11,101)
(5,057)
-
(16,158)
815,410
799,252		 Unrestricted
Funds
2023
£
28,402
379
32,426
166,998
-


Restricted
Funds
2023
£
6,560
-
-
8
-
6,568
7,014
2,755
9,769
-
(3,201)
-
-
(3,201)
818,611
815,410		 Total
2023
£
34,962
379
32,426
167,006
-
Total
2024
£
37,115
985
42,539
155,472
3,419
233,814 228,205 234,773
239,530
22,680
272,295
294,975
(125,000)		 24,538
280,127		 31,552
282,882
30,026
281,766
304,665 314,434
311,792
- -
(125,000)
(186,161) (76,460) (79,661)
(197,262)
5,057
-		 -
-		 -
-
-
-
(181,104) (76,460) (79,661)
(197,262)
2,342,332 2,418,792 3,237,403
3,157,742
2,161,228 2,342,332 3,157,742
2,960,480

9

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PETER AND ST PAUL BATTERSEA

Balance Sheet For the year ended 31 December 2024

Note
Fixed Assets
Tangible Assets
6
Investments
7
Current Assets
Debtors
8
Cash At Bank And In Hand
Creditors - Amounts Falling Due Within
One Year
9
Net Current Assets
Net Assets
Represented By:
Restricted Funds
10
Unrestricted Income Funds
Total Funds		 Unrestricted
Funds
2024
£
2,491
1,900,000
1,902,491
18,735
256,378
275,113
16,376
258,737
2,161,228
-
2,161,228
2,161,228		 Restricted
Funds
2024
£
-
778,548
778,548
-
20,704
20,704
-
20,704
799,252
799,252
-
799,252		 Total
2023
£

Total
2024
£
2,491 129
2,678,548 2,810,561
2,681,039 2,810,690
18,735 15,784
277,082 346,322
295,817 362,106
16,376 15,054
279,441 347,052
2,960,480 3,157,742
799,252 815,410
2,161,228 2,342,332
3,157,742
2,960,480

The financial statements were approved by the PCC on 21 October 2025 and signed on its behalf by:

Ashwini Alexander Treasurer

10

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PETER AND ST PAUL BATTERSEA

Notes to the Financial Statements For the year ended 31 December 2024

1. Accounting Policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

Basis of accounting

The financial statements have been prepared under the Charities Act 2011 and in accordance with the Charities Statement of Recommended Practice (Charities SORP (FRS 102)) and Financial Reporting Standard 102 (FRS 102). The financial statements are drawn up on the historical cost basis of accounting except for the revaluation of investment land and buildings which are shown at market value.

The financial statements include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe an affiliation to another body or those that are informal gatherings of church members.

The PCC meets the definition of a public benefit entity under FRS 102.

Going Concern

There are no material uncertainties about the charity’s ability to continue as a going concern and accordingly the accounts have been drawn up on a going concern basis.

Income recognition

Voluntary income and donations (including legacies) are accounted for once the PCC has entitlement to the income, it is probable the income will be received and the amount of income receivable can be reliably measured. Income from the recovery of tax on gift aided donations is accounted for in the period to which the relevant donation is received. Grant income is recognised on a receivable basis.

The income from trading activities includes rental income from the letting of church premises and leasehold land and buildings which is accounted for when earned. It is shown gross, with the associated costs included in fundraising costs.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Expenditure recognition

Expenditure is accrued as soon as a liability is considered probable, and the amount of obligation can be measured reliably. Longer term liabilities are discounted to present value. The PCC is not registered for VAT and accordingly expenditure includes VAT where appropriate.

Expenditure included in Raising Funds includes amounts incurred in obtaining grants and other donations and property maintenance costs.

Charitable expenditure includes those costs in fulfilling the PCC’s principal objects, as outlined in the Report of the PCC. These include grants payable, governance costs and support costs.

11

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PETER AND ST PAUL BATTERSEA

Notes to the Financial Statements For the year ended 31 December 2024

1. Accounting Policies (continued)

The PCC contributes to certain employees' personal pension plans. These are defined contribution schemes, the assets of which are held separately from those of the charity. The cost in the accounts is the amount of contributions paid and payable during the year.

Rentals under operating leases are charged as incurred over the term of the lease.

Tangible Fixed Assets

Consecrated Property and Moveable Church Furnishings

Consecrated land and benefice property such as the church building and vicarage is excluded the accounts in accordance with s10 of the Charities Act 2011. Moveable church contents are held by the vicar and churchwardens on special trust for the PCC and require a faculty for disposal are accounted as inalienable property unless consecrated. All expenditure incurred on consecrated or benefice buildings and moveable church furnishings, whether maintenance or improvement, is expensed within the Statement of Financial Activities.

Other Fixtures, Fittings & Office Equipment

The cost of other furniture, fittings and equipment, less any expected residual value, is depreciated on a straight-line basis over the effective useful life of the asset, which has been estimated as 4 years.

Fixed Asset Investments

The church’s investments are represented by:

Debtors

Debtors are included at the settlement amount due. Prepayments are valued at the amount prepaid.

Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of opening of the deposit.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation arising from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are recognised at their settlement amount.

Fund accounting

The funds held by the charity are either:

12

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PETER AND ST PAUL BATTERSEA

Notes to the Financial Statements For the year ended 31 December 2024

2. Income

Donations & legacies
Offerings – planned giving & one-off gifts
Offerings – collections
Income tax reclaimed
Grants
Charitable activities
Fee income (net)
Weekend away/outings/outreach events
Other trading income
Lettings income
Investments
Rental income
Bank Interest
Other
Insurance claim		 Unrestricted
Funds
2024
£
22,485
5,158
2,295
1,472
31,410
985
-
985
42,539
153,608
1,853
155,461
3,419
3,419
233,814		 Restricted
Funds
2024
£
-
-
-
5,705
5,705
-
-
0
-
-
11
11
-
0
5,716		 Total
2023
£
20,549
5,987
966
7,460
Total
2024
£
22,485
5,158
2,295
7,177
34,962
262
117
37,115
985
-
379
32,426
165,354
1652
985
42,539
153,608
1,864
167,006
-
155,472
3,419
0
3,419
234,773
239,530

3. Expenditure on Raising Funds

Amortisation of investment in St Peter’s Centre
Residential rental properties
Furnishing/maintenance
Management fees
Service charge
Lettings caretaking fee
Donation platform		 Unrestricted
Funds
2024
£
-
696
3,938
15,148
2,898
-
22,680		 Restricted
Funds
2024
£
7,013
-
-
-
333
-
7,346		 Total
2023
£
7,014
1,476
6,583
13,591
2,498
390
Total
2024
£
7,013
696
3,938
15,148
3,231
-
31,552
30,026

13

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PETER AND ST PAUL BATTERSEA

Notes to the Financial Statements For the year ended 31 December 2024

4. Expenditure on Charitable Activities

Provision of clergy
Fairer Shares
Clergy expenses and salaries
Church Life & Outreach
Staff costs
Advertising & communication
Catering & refreshments
Children & youth work
Training & resources
Events & Evangelism
Other ministries
Community Life
Worship & upkeep of services
Gifts & Grants (see note 4b below)
Other
Provision of Building and Facilities
Heat, light & water (see note below)
Insurance
Security
Maintenance & cleaning
Depreciation
Equipment
St Peters Centre running costs
Operations & Ministry Support
Staff costs
Printing, stationery & office supplies
Telephone & Broadband
IT costs
Accountancy & payroll
Other
Governance
Independent examination
PCC meeting expenses		 Unrestricted
Funds
2024
£
Restricted
Funds
2024
£
62,700
-
-
-
62,700
0
51,516
-
1,249
-
3,843
-
2,183
-
-
-
-
-
-
-
732
3,303
2,504
-
5,032
-
130
-
67,189
3,303
57,188
-
3,749
-
1,201
-
25,325
264
267
-
640
-
29,025
5,860
117,395
6,124
17,974
-
390
44
2,261
-
1,089
-
439
-
386
-
22,539
44
1,920
-
552
-
2,472
0
272,295
9,471		 Total
2023
£
54,180
1,424
Total
2024
£
62,700
-
55,604
53,394
1,337
-
1,510
434
3,699
10,861
10,300
440
11,022
-
62,700
51,516
1,249
3,843
2,183
-
-
-
4,035
2,504
5,032
130
92,997
45,187
4,649
4,234
21,081
457
1,129
27,931
70,492
57,188
3,749
1,201
25,589
267
640
34,885
104,668
16,851
1,239
1,496
2,590
4,170
725
123,519
17,974
434
2,261
1,089
439
386
27,071
2,460
82
22,583
1,920
552
2,542
2,472
282,882
281,766

In October 2023 the charity entered into two 3-year contracts for the supply of electricity and gas respectively that resulted in a material financial liability. The cost for the year is reflected within the caption “heat, light & water” above and is more fully described in the financial review section of the report of the PCC.

14

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PETER AND ST PAUL BATTERSEA

Notes to the Financial Statements For the year ended 31 December 2024

4. Expenditure – Charitable Activities (continued)

4a Staff Costs

In addition to the many volunteers who give their time to the church, there were 3 (2023: 4) employees whose costs are included within Expenditure on Charitable Activities above. The costs relating to their employment was as follows:

Gross salaries
Employer National Insurance
Employment Allowance
Pension contributions
Of which the aggregate compensation made to Key Management Personnel:		 Total Total
2023
£
66,416
6,846
(5,000)
1,983
70,245
31,018
2024
£
66,678
6,325
(5,000)
1,487
69,490
20,616

No employee (2023: nil) received emoluments in excess of £60,000 during the year.

4b Gifts & Grants

Gifts and grants included within Expenditure on Charitable Activities are as follows:

Gifts & grants to:
Organisations
Individuals		 Unrestricted
Funds
2024
£
4,723
309
5,032		 Restricted
Funds
2024
£
-
-
0
Total
2024
£
4,723
309
5,032

5. Net (Expenditure)/Income

5. Net (Expenditure)/Income
This is stated after charging:
Operating lease rentals
Depreciation
Independent examination fee
Other fees to independent examiner		 2024 2023
£ £
432 504
267 457
1,920 2,460
- 1,164

15

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PETER AND ST PAUL BATTERSEA

Notes to the Financial Statements For the year ended 31 December 2024

6. Tangible Fixed Assets

Cost
At 1 January 2024
Additions
Disposals
At 31 December 2024
Depreciation
At 1 January 2024
Charge for Year
Disposals
At 31 December 2024
Net Book Value
At 31 December 2024
At 31 December 2023		 Fixtures,
fittings &
equipment
£
14,219
2,629
-
16,848
14,090
267
-
14,357
2,491
129

All of the fixed assets are used for charitable purposes.

7. Fixed Asset Investments

At 1 January 2024
Additions
Amortisation of lease
Revaluation		 Residential
Leasehold
Properties
£
2,025,000
-
-
(125,000)
1,900,000		 St Peter’s
Centre
£
785,561
-
(7,013)
-
778,548
Total
£
2,810,561
-
(7,013)
(125,000)
2,678,548

Residential Leasehold Properties . In 2017 the church took delivery of 3 residential properties, each with a 250-year lease as follows:

2 bedroom flat, Parkside, 44 Fowler Close, Battersea SW11 2ES
2 bedroom flat, Parkside, 44 Fowler Close, Battersea SW11 2ES
3 bedroom flat. Parkside, 21 Plough Road, Battersea SW11 2DE		 Valuation
£
600,000
600,000
700,000
1,900,000

16

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PETER AND ST PAUL BATTERSEA

Notes to the Financial Statements For the year ended 31 December 2024

7. Fixed Asset Investments (continued)

St Peter’s Centre . The church’s investment in the St Peter’s Centre represents the cost of the building works to the St Peters Centre at Winstanley Road, Battersea, London (phase 1 of the building project), less amortisation in line with the terms of the lease. In 2012 the church agreed a lease with the London & Quadrant Housing Association for the period of 128 years and 5 months from 1 November 2006 to 27 May 2135 at a peppercorn rent. The cost of investment is being amortised over a period 124 years from 2012.

8. Debtors

Prepayments
Income tax recoverable
Accrued income
Other debtors		 2024 2023
£
5,302
1,873
2,710
5,899
15,784
£
8,143
2,295
-
8,297
18,735

9. Creditors - Amounts Falling Due Within One Year

9. Creditors - Amounts Falling Due Within One Year
Accruals
Independent examinations
Utilities
Other creditors including taxation and social security		 2024 2023
£
1,920
-
13,134
£
3,840
5,462
7,074
15,054
16,376

10. Restricted Funds

10a Current year
Phase 1 Building Fund
Helping Hand
St Peter’s Centre Maintenance
Exercise Class
Community Art Project
Love Your Neighbour
Big Alliance
WBC Warm Hub		 At 1
January
2024
£
785,561
3,627
6,124
57
2,773
0
15,708
1,560
815,410		 Income
£
-
11
-
-
-
-
4,500
1,205
5,716		 Expenditure
£
(7,013)
-
(6,124)
-
-
-
(1,351)
(2,329)
(16,817)		 Transfers
£
-
-
-
(57)
-
-
(5,000)
-
(5,057)		 Gains/
(losses)
£
-
-
-
-
-
-
-
-
0		 At 31 At 31
December
2024
£
778,548
3,638
0
0
2,773
0
13,857
436
799,252

17

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PETER AND ST PAUL BATTERSEA

Notes to the Financial Statements For the year ended 31 December 2024

10. Restricted Funds (continued)

The transfer from Exercise Class to unrestricted was unused funds and with permission by Wandsworth Council.

The transfer from Big Alliance to unrestricted was to cover costs of activities and salary of Emma Beech.

10b Prior year
Phase 1 Building Fund
Helping Hand
St Peter’s Centre Maintenance
Exercise Class
Community Art Project
Big Alliance
WBC Warm Hub		 At 1
January
2023
£
792,575
3,799
6,124
57
2,773
13,283
0
818,611		 Income
£
-
8
-
-
-
5,000
1,560
6,568		 Expenditure
£
(7,014)
(180)
-
-
-
(2,575)
-
(9,769)		 Transfers
£
-
-
-
-
-
-
-
0		 Gains/
(losses)
£
-
-
-
-
-
-
-
0		 At 31 At 31
December
2023
£
785,561
3,627
6,124
57
2,773
15,708
1,560
815,410

Descriptions of the main restricted funds are as follows:

Phase 1 Building Fund - represents the investment in, and monies held for, the cost of the construction of the St Peter's Centre.

Helping Hand Fund - represents funds held for support of the Battersea Poor. The transfer recognises the use of these funds for weekend away bursaries.

St Peter’s Centre Maintenance - represents funds held for the upkeep and maintenance of St Peter’s Centre.

Exercise Class - represents funds held for the running of exercise classes for the local community.

Community Art Project - represents funds received to help connect the community with the new building.

Big Alliance - represents funds received towards being an active partner of the Battersea Alliance and running community projects and programs especially with children and youth.

11. Operating Lease Commitments

The total future minimum lease payments under non-cancellable operating leases are payable:

Not later than one year
Later than one year and not later than five years
Later than 5 years		 2024 2023
£
-
-
-
£
432
1,728
36
0
2,196

18

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PETER AND ST PAUL BATTERSEA

Notes to the Financial Statements For the year ended 31 December 2024

12. Related Party Transactions

The members of the PCC gave a total of £16,499 (2023: £8,438) in unrestricted offerings and donations during the year.

19