## St Mary Le Strand with St Clement Danes Parochial Church Council ## Trustees’ Report and Financial Statement ## Year Ended 31 December 2022 ## **ST MARY LE STRAND WITH ST CLEMENT DANES PAROCHIAL CHURCH COUNCIL** |**TRUSTEES’ REPORT AND FINANCIAL STATEMENTS**|**TRUSTEES’ REPORT AND FINANCIAL STATEMENTS**| |---|---| |**FOR THE YEAR ENDED 31 DECEMBER 2022**|| |**CONTENTS**|Page No| |**Reference and administrative details of the charity**|**2**| |**Trustees’ Report**|**3-10**| |**Independent Examiner’s Report**|**11–12**| |**Receipts and Payments account**|**13**| |**Statement of assets and liabilities**|**14**| |**Notes to the financial statements**|**15**| **1 |** P a g e ## **ST MARY LE STRAND WITH ST CLEMENT DANES PCC** ## **Reference and Administrative Details of the Charity, its trustees and advisers for the year ended 31 December 2022.** ## **Trustees** The Reverend Canon Dr Peter Babington (Chair) The Reverend James Craig (Safeguarding Officer) The Reverend Peter Hanaway The Reverend Canon Professor Dr James Walters Nick Cressey (Churchwarden) to 17 May 2022 Margaret Stonborough (Churchwarden) to 17 May 2022 Janet Crabtree (Treasurer) and Church Warden from 17 May 2022 David Scott (Deanery Representative) Katie Ginger to 17 May 2022 Peter Maplestone (Churchwarden) from 17 May 2022 Sandeep Christian to 25 October 2022 Barry Morgan to 21 June 2022 Janet St John Austin Stewart Trotter Georgina Tucket from 21 June 2022 PCC Secretary Karen Little, Parish Administrator ## **Charity registered number: 1140177** **Principal office** : St Mary le Strand, Strand, London WC2R 1ES **Investment Managers** : Central Board of Finance of the Church of England, CCLA, Senator House, 85 Queen Victoria Street, London EC4V 4ET **Independent Examiner** : Mr Derek Rodwell, Benett Verby, 7 St Petergate, Stockport, SK1 1EB **Bankers:** Lloyds TSB Plc, 6 Holborn Circus, London EC1N 2HP **2 |** P a g e ## **ST MARY LE STRAND WITH ST CLEMENT DANES PCC** ## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022** The Parochial Church Council of St Mary le Strand with St Clement Danes (‘the PCC’), as Trustees, present their annual report, together with the financial statements, for the year ended 31 December 2022. The Trustees confirm that the annual report and financial statements of the charity comply with the current statutory requirements. ## **Background and Mission** The PCC has responsibility for promoting the work of the ecclesiastical parish, including the whole mission of the church, pastoral, evangelistic, social and ecumenical. The PCC is also responsible for the maintenance of the Grade 1 listed parish church of St Mary le Strand and for the administration of an endowed charitable trust, the St Clement Danes Parish House Charity. ## **Structure, Governance and Management** The method of appointment of PCC members is set out in the Church Representation Rules. At St Mary le Strand, membership of the PCC normally consists of the licensed clergy, the two churchwardens, and the members who are elected by those persons whose names are enrolled on the Electoral Roll. The PCC members are responsible for making decisions on all matters of general concern and importance to the parish and on how the funds of the PCC are spent. The PCC met on eight occasions during the year 2022. ## **Administrative Information** St Mary le Strand is part of the Two Cities Area of the Diocese of London and is within the Archdeaconry of Charing Cross and Deanery of Westminster (St Margaret), we welcome the oversight of The Rt Revd & Rt Hon Dame Sarah Mullally DBE, Bishop of London, and we seek to play a full part in the life of the Diocese. The PCC is a body corporate under the Parochial Church Councils (Powers) Measure 1956 and the Church Representation Rules (‘the Rules’) and is a charity registered with the Charity Commission for England and Wales, no. 1140177. There are elections every year for the PCC at the Annual Parochial Church Meeting, where all those on the electoral roll are eligible to vote; the APCM operates under the Rules. **3 |** P a g e ## **POLICY STATEMENTS** ## **Health and Safety** The PCC has a Health and Safety policy, covering the conduct of all activities within the church building. The policy is kept up to date and an accident book is kept in the church. ## **Safeguarding** The PCC has adopted the Diocese of London’s safeguarding policy relating to children, young people and vulnerable people. The Safeguarding Officer is The Revd Jim Craig. The role of Children’s Champion was left vacant for the time being. The PCC is committed to the principles of best practice in relation to safeguarding and complies with the duty under section 5 of the Safeguarding and Clergy Discipline Measure 2016 in respect of having due regard to House of Bishops’ guidance on safeguarding children and vulnerable adults. The guidance may be read in full on the Church of England website. ## **Equality Act 2010** The parish is aware of its responsibilities under the Act, especially regarding people with disabilities. A hearing loop is fitted in the church, wheelchair users are offered help in accessing the church building and toilet facilities are available for wheelchair users. However, the parish is aware that the flight of steps at the entrance to the church may give difficulties to wheelchair users. The grade 1 listed nature of the church building and its physical characteristics have, so far, prevented a full solution but this is under review with the _Jewel in the Strand_ project. ## **Risk management** The parish has carried out an assessment of possible risks, including fire risks, within the church and has identified areas in need of improvement. Copies of the assessments are kept in the church. Financial risks are also reviewed from time to time. Capital and accumulated funds are held in respected common investment funds operated by the CCLA. All cheques require two signatures and online transactions require two approvers. During the year the parish had no paid staff. However, services were provided to the PCC as follows; Administration – Karen Little; Cleaning - Pauline Ives & Marilyn Velasquez. ## **Reserves Policy** It is PCC policy to maintain a balance on unrestricted funds which equates to at least six months’ unrestricted payments, equivalent to around £30,000, to cover emergency situations which may emerge from time to time. It is the PCC’s policy to invest its funds in the CBF Church of England Funds, with unspent cash being held in their Deposit Fund. It will be noted that the amount of unrestricted funds at present is well in excess of this reserves figure. The greater part of the funds represents an accumulation from a fund to provide a rectory house for the parish. Although the fund is technically unrestricted, the PCC has designated it as the Property Fund and placed it in accumulation shares in the CBF Property Fund. The absence of a rectory house in this parish has a significant implication for all other aspects of ministry and the PCC does not consider the Property Fund to be available cash for expenditure in the same manner as other cash assets. **4 |** P a g e ## **PARISH REPORT FOR 2022: THE YEAR IN REVIEW** St Mary le Strand is a Sanctuary: a place of welcome, worship and well-being which is guided by the following Core Values: - **Respect** …which underpins everything we do, treating all with courtesy and understanding. - **Trust** … which ensures our community relationships are founded on integrity and honesty. - **Positivity** … which enables us to face the challenges around us with hope and to work together with enthusiasm. - **Teamwork** … which ensures we work collaboratively to live out our vision in partnership with others. - **Service** … which ensures we make a difference for good in the world around us. - **Inclusivity** … which ensures that our church community is open to all and experienced by many. These Core Values guide our Three Missions which are: ## **Vision** St Mary le Strand will be a restored and redeveloped church building, with a renewed mission and ministry, at the heart of the regenerated Strand-Aldwych district. ## **Mission** St Mary le Strand, a Church of England parish church, will stand at the centre of a new ‘piazza’ as a place of worship and as: - A place of sanctuary; - A public democratic space; - A place of engagement and connectivity with the communities around. As a local church, we have three missions which are interconnected: Christian, Public and Cultural. **5 |** P a g e ## **Values** Our vision and three missions are underpinned by these values and concepts: - We will be prayerfully inclusive: Open to God and Open to All; - We will practice hospitality and seek to build a culture of welcome and invitation; - ‘Life in all its fullness’: we will seek to further the flourishing of all people; - ‘To seek the welfare of the city’: we will work for the flourishing of our neighbourhood; - We will seek to support, contribute to and animate the cultural-thinking life of the district. - To be a sanctuary is to be a well-spring – a source of life and refreshment – a place of refuge from the busyness of the world outside to which we return encouraged and inspired. - Partnership: we will work with our neighbouring institutions, organisations and churches wherever possible to deliver shared aims and to support the delivery of the aims contained in our vision. - Participation: we value the varied gifts contributed by different people and seek to increase participation in the life of the community of the church. To strengthen our core value of inclusivity St Mary le Strand joined ‘Inclusive Church’ as a church which celebrates and affirms every person and does not discriminate. ## **Objectives and Activities** The PCC is committed to bringing as many people as practicable to worship at the parish church and to play a constructive role in the wider affairs of the community. The church’s services and worship put faith into practice through prayer, scripture and the administration of the sacraments. When planning its activities for the year, the PCC has considered the Charity Commission’s guidance on public benefit and, in particular, on charities for the advancement of religion. The PCC tries to enable people to live out their faith as part of the parish community through: - Worship and prayer; learning about the Gospel; and developing their knowledge of the Christian faith; - Provision of pastoral care for parishioners; - Outreach through St Clement Danes Primary School, charities associated with the parish and occasional events; - Commitment to the Diocese of London’s 2030 Vision. To facilitate this work, it is important that the PCC maintains the parish church of St Mary le Strand, a grade 1 listed building of national significance. Recovery from the restrictions of COVID-19 has been a slow process. Most of our weekday congregation worked in the City and surrounding area and many have not returned to working in the office. However, with the assistance of a grant for the academic year 202122 from The Westminster Alms Houses and a grant for the academic year 2022-23 from the **6 |** P a g e Mercers’ Company we have had the benefit of a student lead choir formed mainly from King’s College who sang for our Wednesday evening Eucharist in term time. We are able to pay an honorarium to the Choir leader and an organ scholar. The Thursday evening Compline via Zoom is still very successful, one of whom joins by telephone as there is no computer or smart phone in the house. Plans to host cultural events have really grown. We now have the benefit of a Steinway piano, the property of our ‘Pianist in Residence’ Warren Mailley-Smith. Musical concerts are held on average twice a week and are proving very popular. During October, November and December we hosted an art installation for the Embassy of the Dominican Republic of Falling Tobacco Leaves. We again hosted Carol Services for the Association of Wrens, Farrer & Co and the LSE. Tobacco Leaves Art Installation & WRNS Carol Service ## **The Community** The church has been involved with the planning stages for the Strand/Aldwych Regeneration Project. St Mary le Strand is seen as a centre piece for this project, providing a place of worship and a place of sanctuary, a public democratic space and a place of engagement and connectivity with the local communities. Work commenced on reconfiguring the traffic system around the Aldwych in January 2021 and the area around the church became pedestrianised late summer 2021 but we endured a great deal of construction work being carried out as the Strand was prepared for ‘Meanwhile Strand’ which was officially opened in December 2022, using St Mary le Strand as the focal point for the event. A Musical Director was appointed in November 2021 funded by The Northbank BID to form a Community Choir to help with the metal health of those returning to work in the area. **7 |** P a g e The aim was to start the choir in January 2022 but this was put on hold until March 2022 as people were advised to work from home in the New Year following an increase in the infection rate of COVID-19. The numbers attending was not as great has had been hoped as many continued to ‘work from home’ even after restrictions were lifted. Funding for this venture finished in October 2022. ## **Worship and Prayer** We continue to hold a said Holy Communion at lunchtime on a Tuesday and a Sung Eucharist (during term time) with a student led choir on a Wednesday evening. On a Thursday evening, Evening Prayer is said and later in the evening Compline via Zoom. There is also a monthly sung Evensong. We hosted five weddings, one funeral and three Carol Services during the year. The Parish Carol Service also gave us the opportunity to thank our volunteers who have kept the church open to the public. ## **The Fabric of the Church** No additions were made to the furnishings, and the ornaments and fittings were all present and in good condition. No major work was carried out to the church in 2022 only routine maintenance. With a grant from the Northbank Bid and Westminster City Council CIL Fund we were able to renew the floodlighting. ## **Treasurer’s Report** The accounts for 2022 accompany this report. The income from all sources amounted to £212,455 (2021 - £192,846) and expenditure totalled £195,742 (2021 -£168,119). The value of the investments decreased by £167,643 (2021 – increase £178,258) over the year. Total funds at the end of the year came to £1,531,047 (2021 - £1,681,978) of which £1,095,082 (2021 - £1,220,480) were restricted. The PCC are also trustees of the St Clement Danes Parish House Charity and are able to make transfers to the parish from the income of that charity, which exists for the benefit of the parish. We would like to record our grateful thanks for the following grants received during the year: |SOURCE|PURPOSE|AMOUNT| |---|---|---| |National LotteryHeritage Fund|Resilience Project|£52,378| |Diocese of London|Continuityof Project|£9,244| |Westminster CityCouncil CIL|Floodlighting|£26,500| |North Bank BID|Floodlighting|£5,820| |Mercers’ Company|Student Choir|£4,500| |Diocese of London|Fuel Assistance|£2,641| |Strand Parishes Charities|Unrestricted|£16,354| **8 |** P a g e ## **Public Benefit Statement** The PCC confirms that it is aware of the Charity Commission’s guidance on public benefit. The requirement to maintain a public benefit is met by the regular provision of church services on both Sundays and weekdays, the provision of marriages, funerals and baptisms, the hosting of cultural events such as concerts and art exhibitions and the opening of this grade 1 listed building to visitors on a regular basis. ## **Electoral Roll** In accordance with the Church Representation Rules, the parish’s Church Electoral Roll was renewed in 2019. The number of names on the revised roll was 30. ## **Resilience Project** In 2021 the PCC are grateful to the National Heritage Lottery Fund (NHLF) who awarded us a grant of £118,500 towards a Resilience Project prior to starting the major restoration work. This was used to reopen the church to the local community and to re-engage with them following many years of limited access and the closures during the national lockdowns for the COVID-19 pandemic. Consultants were engaged who looked at Audience Development, Business Plans, Governance, Restoration Plans, Website Development and Community Liaison. A Project Manager was also engaged. All produced reports which were presented to the PCC and a final resilience report was submitted to NLHF on 15 March 2022, which highlighted the strengths and weaknesses in the delivery of the various projects. All this was overseen by a Project Board initially chaired by Canon Peter Babington, Priest in Charge, and latterly by Mr Peter Maplestone. The aim is now to continue to action the ‘follow up’ recommendations from these reports. ## **Development Project** A bid was made to the NLHF for a grant of £3.9 million to be match funded by SMLS with £4.1million. In August we heard that we had been successful and a round 1 grant of £520,000 had been awarded which the church would match fund with £100,000. We are again very grateful to the National Lottery Heritage Fund. This was to cover the development stage of the project. A Project Director has been appointed and also the Architects. They will work to bring the project to RIBA Stage 3 and secure funders for the £4.1million by August 2024. Interviews for other consultants and staff are underway. ## **The PCC Responsibilities in relation to the Financial Statements** Charity law requires the PCC to prepare a statement of financial activities and statement of assets and liabilities for each financial year, which gives a true and fair view of the state of affairs of the church and of its financial activities for that year and adequately distinguishes any material special trust or other restricted fund of the church. In preparing those financial statements the PCC is required to: - select suitable accounting policies and then apply them consistently; - make judgments and estimates that are reasonable and prudent; **9 |** P a g e o state whether the policies adopted are in accordance with the appropriate SORP on Accounting by Charities and the Accounting Regulations and with applicable accounting standards, subject to any material departures disclosed and explained in the financial statements- o prepare the accounts on the going concern basis unless It is inappropriate to presume that the church will continue to operate. The PCC is responsible for keeping proper accounting records which disclose, with reasonable accuracy at any time, the financial position of the church. and to enable them to ensure that the financial statements comply with applicable Accounting Standards and Statements of Recommended Practice and the regulations made under the Charities Act 2011. They are also responsible for safeguarding the assets of the church and hence for taking reasonable steps for the prevention and detection of f raud and other irregularities. This report was approved by the Trustees on their behalf by: 18th April 2023 and signed on The Reverend Dr. Canon Peter Babington 101 Page ## **The Independent Examiner's Report to the PCC of** ## **St Mary-Le-Strand with St Clement Danes** I report on the financial statements of the PCC for St Mary-Le-Strand with St Clement Danes for the year ended 31 December 2022 as set out on pages 13 to 15. ## **Respective responsibilities of trustees and examiner** The charity’s trustees are responsible for the preparation of the financial statements. The trustees consider that an audit is not required for this year under section 145 of the Charities Act 2011 (the 2011 Act). I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants of England and Wales Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to: - examine the financial statements under section 145 of the 2011 Act; - to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and - to state whether particular matters have come to my attention. This report, including my statement, has been prepared for and only for the charity’s trustees as a body. My work has been undertaken so that I might state to the charity’s trustees those matters that I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to any other than the charity and the charity’s trustees as a body for my examination work, for this report or for the statements that I have made. ## **Basis of independent examiner’s report** My examination was carried out in accordance with the general Directions given by the Charity Commission. 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 seeking 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 examiner’s statement** In connection with my examination, no matter has come to my attention: - which gives me reasonable cause to believe that in any material respect the requirements - to keep accounting records in accordance with section 130 of the 2011 Act ; and - to prepare accounts which accord with the 2011 Act - have not been met; or **Page** 11 - to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Signed: Dated: 11[th] May 2023 Derek Rodwell Impact The Future Ltd, Bennet Verby, 7 St Petersgate, Stockport, Cheshire, SK1 1EB **Page** 12 ## **ST MARY-LE-STRAND WITH ST CLEMENT DANES PCC Receipts and payments accounts For the year ended 31st December 2022** |**Notes**
**Income and endowments**
**_Donations and legacies_**
Regular giving
Loose Plate collections & card machine
Giving through church boxes
One-off Gift Aid gifts including envelopes
Donations appeals etc
Tax recoverable on Gift Aid
Non-recurring grants
**2**
Strand Parish Trust
**_Donations and legacies Totals_**
**_Income from charitable activities_**
Fees for weddings and funerals etc
Fees and income on events
Church Hire
Sales of books, postcards etc
**_Income from charitable activities_**
**_Totals_**
**_Investments_**
Dividends
Loan from Diocese
Bank and building society
interest
**_Investments Totals_**
**Income and endowments**
**Grand totals**
**Expenditure**
**_Expenditure on charitable activities_**
Common Fund
Cost of parish administrator
Parochial fees
Verger Fees
Working expenses of incumbent
Parish training and mission
Church running - insurance
Church office - telephone & IT
Organ / piano tuning
Down-payment on Steinway Model B piano
Organist, musician, choir and music director
Church maintenance
Church equipment (AV etc)
Resiliance Project
Cleaning
Upkeep of churchyard
Bookkeeping
Administration & general
Consumables
Subscriptions
Hospitality
Bank and service Charges
Visiting speakers / locums
Church running - electric
Church running - water
Church running - oil
Special appeals paid out
Exhibitions, concerts & events
Fee for valuation of church for hiring out
Legal Fees
Independent examination fees
**_Expenditure on charitable_**
**_activities Totals_**
**Expenditure Grand totals**
**Net movement in bank accounts**
**Opening balance in bank**
**Movements between bank accounts**
**Closing balance in bank**|**2022**
**2022**
**2022**
**2022**
**Unrestricted Unrestricted Restricted**
**Totals**|**2021**
**2021**
**2021**
**2021**
**Unrestricted Unrestricted**
**Restricted**
**Totals**| |---|---|---| ||**Parish House**
**funds**|**Parish House**
**funds**| ||2,370
2,370
4,567
4,567
2,771
2,771
85
85
766
250
1,016
1,014
1,014
101,083
101,083
15,903
451
16,354
27,476
0
101,784
129,260
6,552
6,552
1,369
1,369
21,809
21,809
251
251
29,980
0
0
29,980
14,211
28,374
42,585
9,243
9,243
712
588
87
1,386
24,166
28,962
87
53,215
81,622
28,962
101,871
212,455
38,000
38,000
8,140
8,140
1,045
1,045
1,805
1,805
330
330
101
101
10,702
10,702
3,121
3,121
348
348
5,150
5,150
1,798
10,052
11,850
1,265
13,616
14,881
503
503
9,244
69,796
79,039
686
686
0
374
374
692
692
1,230
300
1,530
65
65
421
421
602
602
0
0
2,236
2,236
152
152
2,979
0
2,979
0
0
2,731
6,218
8,949
0
0
840
840
1,200
1,200
95,760
0
99,982
195,742
95,760
0
99,982
195,742
(14,138)
28,962
1,889
16,713
53,944
63,789
139,173
256,906
25,000
(25,000)
0
64,806
67,751
141,062
273,619|2,464
2,464
772
772
1,045
1,045
322
500
822
2,366
300
2,666
2,288
2,288
87,290
87,290
10,686
5,343
16,029| |||19,941
0
93,433
113,374
618
618
34,450
34,450
0
0| |||35,068
0
0
35,068
13,909
27,441
41,351
3,000
3,000
19
23
11
53| |||16,928
27,464
11
44,404| |||71,937
27,464
93,444
192,846| |||29,000
29,000
7,885
7,885
344
344
105
105
365
365
123
123
10,461
10,461
1,357
1,357
175
175
0
0
(1)
2,793
2,792
9,517
9,517
2,308
4,400
6,708
5,037
83,223
88,260
315
315
0
0
556
556
506
506
791
791
556
556
76
76
153
153
0
0
4,077
4,077
94
94
722
722
0
0
0
0
1,980
1,980
0
0
1,200
1,200| |||77,702
0
90,416
168,119| |||77,702
0
90,416
168,119| |||(5,765)
27,464
3,028
24,727
33,523
56,325
142,331
232,179
26,186
(20,000)
(6,186)
0| |||53,944
63,790
139,173
256,906| Page 13 ST PIARYiE4TRAP4D V41TH STCLEIENT DANES PCC st*tthMnl ol oa••ts atsd lthbllMfj•s Forth•y**r•nd*d 31*t De¢*thr>)22 Z021 2021 ¢CLAShwoy*th Prr¥￿￿OIp ¢¢LAShÈrtB623006QD1S cCLAShaTFsP?￿thH9vwc1 T¢w 25IM23 45.716 2•1 51 291heg 45.7•J 1154Jll# IM81.307 LW#cuwentAr￿￿rt J1 22J82 30M2 p) 03A79 )1 51 ¢¢LAPCt822OQ60O10 CCLAP4thHtyJxCtr•OW10 40144 4$2YO 273Ji• 67351 141x41 7•) 139.ln JM215 141 07 Tow bA*•kn•rdfyÈ•n*1¢4WdtsyP TO￿ 53eDJ2 1.146.Ok7 Iiei J78 IJSIJIIT 1130DI ,0001 112245) 7) 113M) PlJ121 073 2299 ioz B•thn(Ja MIAdbyP•WP¥ wodbyStr4ndPYthTni SICl•m•thoan•o¢hwthtrw￿*r*I To¥ 401 9211 Jim4 3*$1 3.7 lJJJ 6W SJ)l• 7ffj$6 IE/oLfl2c) L3 ## **ST MARY-LE-STRAND WITH ST CLEMENT DANES PCC** **Notes to the accounts For the year ended 31st December 2022** ## **1. Net Movement in Investment Assets** |**Note**
Unrestricted Funds
CCLA income shares Property Fund
6001P 197,382 shares
CCLA Investment Fund
6001S 2,216 shares
Total Unrestricted Invetment Funds
Endowment Funds-Clement Danes
Parish House Charity
CCLA Investment Fund
46,174 shares
**3,4**
Total Investment Funds
**2a. Movement on Restricted Funds 2022**
Restoration Fund including Strand Parishes grants
Organ Fund (formerly shown as part of restoration fund)
Jubilee Fund
Diocesan Fuel Allowance
Grants towards Student led Choir: Mercers and Westminster Almshouses Trust
National Church Trust Grant for FeasabilityStudy
Resilience Projectgrants: NHLF & London Diocese
See note below
Northbank Bid Ltd - Grant for Community Choir
Donation towards window cleaning
Grants for floodlighting: WCC & Northbank Bid ltd
SMLS Speaks- Northbank Bid Ltd
See note below|**2021**
**Opening Balance**
**01/01/21**
**2021**
**Movemen**
**ts in**
**value**
**2021/22**
**Closing/Opening**
**Balance**
**01/01/22**
**2022**
**Movement**
**in Value**
**2022**
**Closing Fund**
**31/12/22**
255,432
36,437
291,869
(34,246)
257,623
45,400
6,495
51,895
(6,109)
45,786| |---|---| ||300,832
42,931
343,763
(40,355)
303,409| ||945,981
135,326
1,081,307
(127,288)
954,019| ||945,981
135,326
1,081,307
(127,288)
954,019| ||| ||1,246,813
178,258
1,425,071
(167,643)
1,257,428| ||**2022**
**Opening Balance**
**01/01/22**
**2022**
**Income**
**2022 expenditure**
**2022**
**transfers**
**2022 Closing**
**Balance**
**31/12/22**
41,808
701
(5,796)
36,713
2,000
0
0
2,000
83,878
87
0
83,965
0
2,641
0
2,641
4,040
4,500
(3,384)
5,156
279
0
(279)
0
(0)
61,622
(64,020)
(2,399)
6,668
0
(6,668)
0
500
0
(500)
0
0
32,320
(13,116)
19,204
0
0
(6,218)
(6,218)| ||139,173
101,871
(99,982)
0
141,062| The grant for the SMLS Speaks project, funded by Northbank BID, was applied for in 2022 but received in January 2023 and shown as a debtor on the statement of assets and liabilities THE NHLF grant for the resilience project will be drawn down early in 2023 so the deficit at the end of 2022 will be covered. Following the successful completion of the Resilience Project a bid was made to the NLHF for a grant of £3.9million to be match funded by SMLS with £4.1million for the development and restoration of the church. In August we heard that we had been successful and a round 1 grant of £520,000 has been awarded which the church will match fund with £100,000. This is to cover the development stage of the project. A Project Director has been appointed and also the Architects. They will work to bring the project to RIBA Stage 3 and secure funders for the £4.1million by August 2024. Drawdowns from the NLHF are aways made in arrears. ## **2b. Movement on Restricted Funds 2021** |**2b. Movement on Restricted Funds 2021**|| |---|---| |Restoration Fund including Strand Parishes grants
Organ Fund (formerly shown as part of restoration fund)
Jubilee Fund
All Churches Trust Ltd Grant for Audio Visual Equipment
Westminster Almshouses Trust - Grant towards Student led Choir
National Church Trust Grant for FeasabilityStudy
National Heritage LotteryFund - Resilience Project
Northbank Bid Ltd - Grant for Community Choir
Donation for lighting for event
Donation towards window cleaning|**2021**
**Opening Balance**
**01/01/21**
**2021**
**Income**
**2021 expenditure**
**2021**
**transfers**
**2021 Closing**
**Balance**
**31/12/21**
6,463
5,343
(4,998)
35,000
41,808
2,000
0
0
0
2,000
133,868
10
0
(50,000)
83,878
0
4,400
(4,400)
0
0
0
5,500
(1,460)
0
4,040
0
6,000
(5,721)
0
279
0
63,390
(72,205)
8,814
(0)
0
8,000
(1,332)
0
6,668
0
300
(300)
0
0
0
500
0
0
500| ||142,331
93,443
(90,415)
(6,186)
139,173| **3. History of the Parish House Endowment Fund** . The permanent endowment to the St Clement Danes Parish House Charity in 1896 was the Parish House. When this property was sold in 1961, the sale proceeds of £27,500 were used to purchase units in the Central Board of Finance Investment Fund. This fund is administered by the Custodian Trustees- The London Diocesan Fund. Page 15 In 2014 the permanent endowment to the Old Watch House Charity was transferred to the Parish House Charity. These funds originated when the Old Watch House was sold in 1961 and the proceeds were used to invest in CBF Investment shares. **4. Presentation of the Parish House funds** . In consultation with the Diocese of London the accounts for the St Clement Danes Parish House Charity which is governed by the PCC of St Mary Le Strand have been added to these PCC accounts. For ease of comparison the figures for the Parish House Charity have been shown as separate unrestricted and endowment funds. Prior to 2018 these accounts have been prepared as a separate unregistered charity. The governing documents of the St Clement Danes Parish House Charity state that 'the managing trustees shall apply the clear income of the Charity for the purpose of furthering the religious and other charitable work of the Church of England in the Ecclesiastical Parish of St Mary le Strand with St Clement Danes'. With regards to the application of capital endowments it states: 'subject to the approval of the Charity Commissioners the managing trutees may apply the capital of the Charity in defraying the cost of providing property to be appropriated and used for the said purpose". **5. Jubilee Fund.** This Lloyds bank account had previously (before 2019) been excluded from the accounts. It is now considered to be part of the funds available to the PCC. The fund can be utilised under the discretion of the current incumbent and the 'senior' church warden and can be spent on the maintenance and support of the fabric, on services or the stipend of the curate. **6. Assets and liabilities** . Apart from the amounts described in the statement of assets and liabilities the PCC of St Mary Le Strand had no further material assets or liabilities at the end of 2022. **7. Related parties.** Stewart Trotter, who is a member of the PCC, was paid £500 for work he did in compiling the church history as part of the Resilience Project ## **8. Accounting Policies** a. The financial statements of the PCC have been prepared in accordance with the Church Accounting Regulations 2006 using the Receipts and Payments basis b. Funds. General funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application on the general purposes of the PCC activities. Restricted funds are those donated for specific purposes. Endowment funds are those funds held under the terms of a permanent endowment by the Clement Danes Parish House Charity. c. Dividends are accounted for when received. d. Investments are shown at the mid market valuations at the accounting period end date. e. Consecrated and beneficed property of any kind is excluded from the accounts by s.10 of the Charities Act 2011. Page 16