## St Mary Le Strand with St Clement Danes Parochial Church Council ## Trustees’ Report and Financial Statement ## Year Ended 31 December 2023 ## **ST MARY LE STRAND WITH ST CLEMENT DANES PAROCHIAL CHURCH COUNCIL** **----- Start of picture text -----**
TRUSTEES’ REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
CONTENTS Page No
Reference and administrative details of the charity 2
Trustees’ Report 3-11
Independent Examiner’s Report 12
Statement of Financial Activities 13
Balance Sheet 14
Notes to the financial statements 15-22
**----- End of picture text -----**
**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 2023.** ## **Trustees** The Reverend Canon Dr Peter Babington (Chair) The Reverend James Craig (Safeguarding Officer to 21 September 2023) The Reverend Peter Hanaway to 14 December 2023 The Reverend Canon Professor Dr James Walters Janet Crabtree (Treasurer and Churchwarden) David Scott (Deanery Synod Representative) Peter Maplestone (Churchwarden) Janet St John Austin Stewart Trotter Georgina Tucket Roy Sully from 16 May 2023 PCC Secretary Karen Little, Parish Administrator (Safeguarding Officer from 21 September 2023) ## **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 2023** 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 2023. 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 nine occasions during the year 2023. ## **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 was The Revd Jim Craig to 21 September 2023 when the role was transferred to Karen Little. 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 two paid staff who worked on the _Jewel in the Strand_ project. Services were also provided to the PCC as follows; Administration – Karen Little; Cleaning - Marilyn Velasquez and Mery Valencia Oimaza. ## **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 £70,000, 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 (see note 10c). 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 2023: 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 202223 from the Mercers’ Company we have had the benefit of a student lead choir formed **6 |** P a g e 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 three times a week and are proving very popular. We again hosted Carol Services for the Association of Wrens, Farrer & Co and the LSE. 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. The church is open each weekday from 1200 to 1600 and visitors are welcomed into the building by stewards. ## **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 4 weddings 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. **7 |** P a g e ## **The Fabric of the Church** No additions were made to the furnishings, and the ornaments and fittings were all present and in good condition. Inspection of the outer stonework as part of the _Jewel in the Strand_ project revealed erosion of the iron pinning and multiple cracked stones on the cornices and balustrades. This resulted in the church being fenced off for the protection of the general public. With the aid of a cherry picker the stonework was more closely examined and many pieces of loose stonework removed. We are currently waiting for contractors to pin and net the remaining loose stonework to stabilize the situation. ## **Treasurer’s Report** The accounts for 2023 accompany this report. The income from all sources amounted to £429,262 (2022 - £226,228) and expenditure totalled £443,176 (2022 - £198,568). The value of the investments increased by £78,255 (2022 – decreased by £167,643) over the year. Total funds at the end of the year came to £1,609,986 (2022 - £1,545,645) of which £1,155,887 (2022 - £1,103,429) 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|Development Phase|£242,578| |North Bank BID|SMLS ‘Speaks’|£11,395| |Strand Parishes Charities|Unrestricted|£25,041| ## **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. **8 |** P a g e ## **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. ## **Development Project** Following the news in August 2022 that the Jewel in the Strand Project had been awarded a round 1 grant of £520,000, 2023 was the year in which the Project’s activity intensified. A considerable amount of time and effort was spent in the first three months of the year to interviewing and appointing the staff and advisers needed to deliver the project. For example, there were thirteen applications for the role of architect, of whom three were interviewed. As a result, the PCC engaged, either directly or as subconsultants, the following companies: - Architects for the Project: Nick Cox Architects. Kathryn Harris will be the lead architect for the Project {and has subsequently been appointed as Quinquennial Inspector) - Quantity Surveyors: Huntley Cartwright - Structural Engineers: SFK Consulting - Mechanical and Electrical Engineers: Ingleton Webb - Lighting Design: Light Perceptions Ltd - Fire consultants: Redbrick Fire Consulting Ltd - Access auditors: Centre for Accessible Environment - Accousticians: Sandy Brown Ltd - Archaeology and Removal of Human Remains: MOLA - Business Planning Consultants: Countercultural Ltd - Community Engagement Consultants: Headland Design Associates - Conservation Management Plan adviser: Jeremy Musson - Historic Paintwork Consultants: Lincoln Conservation Ltd - Historic Furnishing Consultant: Alan Lamb. **9 |** P a g e After the appointment of these companies, reports were compiled on the various strand of activities needed for the Project. Subsequently, meetings were held between the various consultants. In March Ann Biggs was appointed as Project Manager for the overall Project. Ann comes to us with a wealth of experience in the heritage sector, having most recently worked on fund raising for the restoration of Hillsborough Castle. Later in the year we appointed Howard Weinburg as Finance and Administration Manager and Shaun O’Brien as Development Manager. The receipt of the reports from the various consultants has greatly enriched our understanding of the building and will form the basis for decisions to be made later in the Design Phrase of the Project. The official launch of the fundraising appeal took place in September and was attended by many potential donors and members of the local community. ## **Flower Appeal** To engage with the public and encourage donations flowers on the beautiful church ceiling have been offered for sponsorship. At the end of the year £19,000 been donated. We have learned that the initial plan to enable wheelchair access to the building by a ramp on the south side of the church does not comply with latest space requirements. The architects have therefore proposed an alternative solution which would see the creation of ramps and terraces on the north and south of the church, with the expansion of the railings to something nearer the original curtilage. These plans will be submitted for planning permission in 2024. The PCC would like to pay thanks to the members of the Project Board, the various consultants and the volunteers in the church, who have given so much of their time to the Project during the year. **10 |** P a g e The PCC Responslbllftles In relation to the finandal 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 affair5 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: 0 select suitable accounting policies and then apply them consistentlyi make judgments and estimates that are reasonable and prudent,. o state whetherthe policies adopted are in accordance with the approprlate SORP on Accounting by Charities and the Accounting Regulatlons and with applicable accounting standards, subject to any material departures disclosed and explained In the financial statements: o prepare the accounts on the going concem basis unless it 15 inappropriate to presume that the church will continue to operate. The PCC is responsible for keeping proper accountin8 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 Accountin8 Standards and Statements of Recommended Practice and the regulations made under the Charities Art 2011. They are a150 responsible for safeguarding the assets of the church and hence for taklng reasonable steps for the prevention and detectlon of fraud and other irregularities. Thls report was approved by the Trustees on IG Ap.,,l 7￿ 7Jfr thelr behalf by". and slgned on The Reverend Dr. Canon Peter Babington IIIPage ## **Independent Examiner's Report to the PCC of St Mary Le Strand with St Clement Danes** I report on the accounts for the year ended 31st December 2023 that are set out on pages 13 to 22. ## **Respective responsibilities of the PCC and Independent Examiner** The PCC is responsible for the preparation of the accounts. They 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. Having satisfied myself that the church is not subject to audit and is eligible for independent examination it is my responsibility to: - examine the accounts under section 145 of the 2011 Act; - follow the procedures laid down in the General Directions given by the Charity Commissioners section 145(5)(b) of the 2011 Act; and - state whether particular matters have come to my attention. This report, including my statement, has been prepared for and only for the PCC as a body. My work has been undertaken so that I might state to the PCC 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 church and the PCC as a body for my examination work, for this report or for the statements that I have made. ## **Basis of Independent Examiner's Statement** 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 church 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 the 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** Since the gross income of the church exceeds the amount provided in section 145(3) of the Act, I confirm that I am qualified to act as Independent Examiner under the provisions of that section of the Act and that my qualification is as shown below. In connection with my examination, no matters have come to my attention: 1. which give me reasonable cause to believe that in any material respect the requirements - to keep accounting records in accordance with s.130 of the 2011 Act; or - to prepare accounts which accord with these accounting records have not been met; or 2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Date: 26[th] April 2024 Derek Rodwell FCCA (Fellow of the Chartered Association of Certified Accountants) Impact The Future Ltd, Bennett Verby, 7 St Petersgate, Stockport, Cheshire, SK1 1EB Page 12 ## **ST MARY-LE-STRAND WITH ST CLEMENT DANES PCC** ## **Statement of Financial Activities** |**For the year ended 31 December 2023**
**Notes**
**Income**
**Donations & Legacies**
**2**
**Income from Charitable activities**
**3**
**Investment Income**
4
**Total receipts**
**Expenditure**
**Expenditure on charitable activities**
**5**
**Total payments**
**Net incoming / outgoing resources**
**Gains/(Losses) on investment assets**
**Transfers**
**Total funds brought forward**
**Total funds carried forward**|**Unrestricted**
**Unrestricted**
**Designated**
**Restricted**
**Endowment**
**Total**
**Total**
**Parish House**
**funds**
**funds**
**funds**
**funds**
**funds**
**2023**
**2023**
**2023**
**2023**
**2023**
**2023**
**2022**
41,077
0
12,289
268,265
321,631
146,417
60,876
0
0
0
60,876
35,840
27,280
18,970
0
505
46,755
43,972| |---|---| ||**129,233**
**18,970**
**12,289**
**268,770**
**0**
**429,262**
**226,228**| ||108,144
20
28,943
306,070
443,176
198,568| ||108,144
20
28,943
306,070
443,176
198,568| ||**108,144**
**20**
**28,943**
**306,070**
**443,176**
**198,568**| ||| ||**21,089**
**18,950**
**(16,653)**
**(37,300)**
**(13,914)**
**27,660**
**(11,503)**
**0**
**0**
**0**
**89,758**
**78,255**
**(167,643)**
**(25,000)**
**0**
**25,000**
**0**
**0**
**0**| ||**374,464**
**67,752**
**0**
**149,410**
**954,019**
**1,545,645**
**1,685,628**
**359,051**
**86,702**
**8,347**
**112,110**
**1,043,777**
**1,609,986**
**1,545,645**| Page 13 ST MARYIE-STRAND wrrH ST CLEMENT DANES PCC Balanco Shgot as at 31 Dec•mb•r2023 AS at 31112r23 As at 31n2r22 Flxed asao18 CCLA Inv8slm8fttaf£4Junts Tangible assets Curr•rrt•$8•ts D•btor¥ Acwunts Troiyablfr Dep051ton psano Other DebtOW5 & prepawts 1.335ffj83 3.143 1J38M26 1.257A28 4.714 1262,142 57,775 3,018 5,000 23.837 2S.178 87.952 31,854 C••h at bark* and kn ha CurfÉnlacDJunts 121.730 95.826 189.144 104A75 CCLA IC8Qkn)unts 217,5S5 273,619 Totsl Cwrgnt ••••ts 305MJ8 305.473 Llablltl•• Cr•thtm: Amiwxrti tsLlw tth•n• y••r Acuua18 Loen L¢4￿nts payablo 1280 3XKIO 15.148 8A67 Tctsl Ll•bl 25.104 9.727 N•t¢wr•nt ••••ts 280.404 295.748 Cr•dltorn.' lknbllKkn* ts1&1g 0￿r 1 y••r 9243 12,243 Tolal n•t ••Mt• 1009 987 R•pr•••nt•d by FwMI• Unr•$trktsd D•skJn•t•d R•strki•d 445.753 8,347 112.110 1.043.777 442,216 io 149,410 954.019 Thè po9e$ 15 k) 22 hmi partolthese final￿1 si•tsm•nts bytre ￿r0¢h181 Church Council on PaBe 14 ## **ST MARY-LE-STRAND WITH ST CLEMENT DANES PCC** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022** ## **1. ACCOUNTING POLICIES** The PCC is a public benefit entity within the meaning of FRS 102. The financial statements have been prepared under the Charities Act 2011 and in accordance with the Church Accounting Regulations 2006 governing the individual accounts of PCCs, and with the Regulations’ ‘true and fair view’ provisions, together with FRS 102 (2016) as the applicable accounting standards and the 2016 version of the Statement of Recommended Practice, Accounting and Reporting by Charities (SORP (FRS102)). The financial statements have been prepared under the historical cost convention except for the valuation of investment assets, which are shown at market value. These accounts have been prepared under the assumption that the church is a going concern as can be verified by the substantial balance of funds available as shown on these financial statements. ## **Funds** General funds represent the funds of the PCC that are not subject to any restriction regarding their use and are available for application on the general purposes of the PCC. The accounts include all transactions, assets and liabilities for which the PCC is responsible in law. ## **Incoming Resources** ## **Voluntary income and capital resources** Collections are recognized when received by or on behalf of the PCC. Planned giving under Gift Aid is recognized only when received. Income tax recoverable on Gift Aid donations is recognized when the income is recognized. Grants and legacies to the PCC are accounted for as soon as the PCC is notified of its legal entitlement, the amount due is quantifiable and its ultimate receipt by the PCC is reasonably certain. ## **Other income** Rental income from letting of church premises is recognized when rental is due. ## **Income from investments** Page 15 Dividends are accounted for when due and payable. Interest entitlements are accounted for as they accrue. Tax recoverable on such income is recognized in the same accounting year. ## **Gains and losses on investments** Realized gains or losses are recognized when investments are sold. Unrealized gains and losses are accounted for on revaluation of investments at 31 December. ## **Resources Expended** ## **Activities directly relating to the work of the Church** The diocesan parish share is accounted for when paid. Any parish share unpaid at 31 December is provided for in these accounts as an operational (though not a legal) liability and is shown as a creditor. ## **FIXED ASSETS** ## **Consecrated property and moveable church furnishings** Consecrated and beneficed property of any kind is excluded from the accounts by s.10 of the Charities Act 2011. Moveable church furnishings held by the Vicar and Churchwardens on special trust for the PCC, and which require a faculty for disposal, are accounted as inalienable property unless consecrated. They are listed in the church’s inventory. For inalienable property acquired prior to year 2000 there is insufficient cost information available and therefore such assets are not valued in the accounts. Items acquired thereafter will be capitalised and depreciated in the accounts over their anticipated useful economic life on a straight line basis; to date no such items have been acquired. All small expenditure incurred in the year on consecrated or beneficed buildings, individual items under £1000 or on repairs of moveable church furnishings acquired before 1 January 2000 is written off. Other assets costing over £1,000 are written off over the estimated useful life. ## **Investments** Investments are valued at mid market value at 31 December. ## **Current assets** Amounts owing to the PCC at 31 December in respect of fees, rents and other income are shown as debtors less provision for amounts that may prove uncollectable. Page 16 ## **ST MARY-LE-STRAND WITH ST CLEMENT DANES PCC** ## **Notes to the accounts** ## **for the year ended 31st December 2023** |**2 **|**Donations & Legacies 2023**
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
Grants
Strand Parish Trust
**TOTAL**
**Donations & Legacies 2022**
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
Grants
Strand Parish Trust
**TOTAL**|Unrestricted
funds
Unrestricted
Parish
House
Designated
funds
Restricted
funds
Totals
£
£
£
£
4,123
0
0
0
4,123
8,956
0
0
161
9,116
3,730
0
0
0
3,730
47
0
0
0
47
1,272
0
0
19,011
20,283
2,949
0
0
1,812
4,761
0
0
7,289
247,282
254,571
20,000
0
5,000
0
25,000| |---|---|---| |||41,077
0
12,289
268,265
321,631| |||2,370
0
0
0
2,370
4,519
0
0
0
4,519
2,771
0
0
0
2,771
85
0
0
0
85
706
0
0
310
1,016
1,216
0
0
0
1,216
0
0
0
117,547
117,547
16,893
0
0
0
16,893| |||28,560
0
0
117,857
146,417| |**3 **
**4 **|**Income from Charitable Activities 2023**
Fees for weddings and funerals etc
Fees and income on events
Church Hire
Sales of books, postcards etc
**TOTAL**
**Income from Charitable Activities 2022**
Fees for weddings and funerals etc
Fees and income on events
Church Hire
Sales of books, postcards etc
**TOTAL**
**Investment Income 2023**
Dividends
Bank and building society interest
**TOTAL**|Unrestricted
funds
Unrestricted
Parish
House
Designated
funds
Restricted
funds
Totals
£
£
£
£
3,540
0
0
0
3,540
5,051
0
0
0
5,051
51,965
0
0
0
51,965
320
0
0
0
320| |---|---|---| |||60,876
0
0
0
60,876| |||7,202
0
0
0
7,202
2,138
0
0
0
2,138
26,249
0
0
0
26,249
251
0
0
0
251| |||35,840
0
0
0
35,840| |||24,885
17,519
0
0
42,404
2,395
1,451
0
505
4,351| |||27,280
18,970
0
505
46,755| **Investment Income 2022** Page 17 Dividends Bank and building society interest ## **TOTAL** |14,211|28,374|0|0|42,585| |---|---|---|---|---| |712|588|0|87|1,386| |14,923|28,962|0|87|43,972| |**5** **_Expenditure on charitable activities 2023_**
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, repairs and depreciation
Church equipment (AV etc)
Resiliance/Restoration Project
Cleaning
Salary costs
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
Advertising
Legal Fees
Independent examination fees
**TOTAL**|Unrestricted
funds
Unrestricted
Parish
House
Designated
funds
Restricted
funds
Totals
£
£
£
£
38,000
0
0
0
38,000
15,886
0
2,010
0
17,896
687
0
0
0
687
6,540
0
41
0
6,581
340
0
46
0
386
291
0
0
0
291
11,765
0
0
0
11,765
3,224
0
388
0
3,613
108
0
0
0
108
0
0
0
0
0
3,110
0
0
4,063
7,173
7,309
0
25,149
3,620
36,079
374
0
0
0
374
0
0
113
222,657
222,770
1,181
0
0
0
1,181
42
0
0
61,138
61,180
0
0
0
0
0
1,262
0
337
0
1,599
1,145
20
9
0
1,174
1,924
0
194
0
2,119
289
0
154
0
443
1,013
0
0
395
1,409
53
0
0
0
53
2,276
0
0
1,216
3,492
213
0
0
0
213
2,298
0
0
1,425
3,724
0
0
0
161
161
6,186
0
0
11,395
17,581
1,125
0
500
0
1,625
0
1,500
0
0
0
1,500| |---|---| ||108,144
20
28,943
306,070
443,176| |||Unrestricted||||| |---|---|---|---|---|---|---| ||Unrestricted|Parish|Designated|Restricted||| ||funds|House|funds|funds|Totals|| ||£|£||£|£|| |**_Expenditure on charitable activities 2022_**||||||| |Common Fund|38,000|||||38,000| |Cost of parish administrator|6,445|||||6,445| |Parochial fees|1,045|||||1,045| |Verger Fees|1,805|||||1,805| |Working expenses of incumbent|330|||||330| |Parish training and mission|101|||||101| |Church running - insurance|10,702|||||10,702| |Church office - telephone & IT|3,121|||||3,121| |Organ / piano tuning|348|||||348| |Down-payment on Steinway Model B piano|150|||||150| |Organist, musician, choir and music director|1,798|||10,052||11,850| |Church maintenance, repairs and depreciation|2,188|||13,616||15,804| |Church equipment (AV etc)|503|||||503| |Resiliance/Restoration Project|5,688|||77,911||83,599| Page 18 |Cleaning
Salary costs
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
Advertising
Legal Fees
Independent examination fees
**TOTAL**|Unrestricted
funds
Unrestricted
Parish
House
Designated
funds
Restricted
funds
Totals
£
£
£
£
686
686
0
0
374
374
691.94
692
1,230
300
1,530
65
65
421
421
647
647
0
0
2,613
2,613
152
152
2,979
2,979
0
60
60
6,287
6,218
12,504
0
0
840
840
1,200
1,200| |---|---| ||90,411
0
0
108,157
198,568| Included in the above figures is the fee for the preparation of the annual accounts and independent examination of £1,500 (£2022 £1,200). Analysis of payroll: |Analysis of payroll:||| |---|---|---| |Gross pay
Employers NI (net of employment allowance)
Employers Pension|2023
£
61,343
1,547
1,194
64,085|2022
£
0
0
0| |||0| In the 12 months ending 31st December 2023 there were 2 full time staff employed, one for 9 months and one for 5 months. 6 staff were employed in an ad hoc basis to help with verging for concerts and their remumeration (totalling £3,637) was processed through the payroll. The key management role was filled by the Revd Peter Babington who received his salary from the diocese and received no emoluments or benefits in kind from the PCC. Expenses incurred on behalf of the church were refunded against receipts. No member of staff received renumeration of above £60,000 total in 2023. ## **6 CCLA Investment accounts 2023** |CCLA Shares Parish Property 6001P
CCLA Shares 623006001S
CCLA Shares Parish House Charity
**Income / Expenditure totals**|**2022**
**Opening**
**Balance**
**01/01/22**
**2022**
**Movements**
**in value**
**2022/23**
**Closing/Openin**
**g Balance**
**01/01/23**
**2023**
**Movement in**
**Value**
**2023**
**Closing Fund**
**31/12/23**
291,869
(34,246)
257,623
(15,810)
241,813
51,895
(6,109)
45,786
4,308
50,093
1,081,307
(127,288)
954,019
89,758
1,043,777| |---|---| ||1,425,071
(167,643)
1,257,428
78,255
1,335,683| |**7 **|**Tangible fixed assets**
Assets at cost or valuation
Opening balance 1/1/23
Purchases
Closing balance 31/12/23
Depreciation
Opening balance 1/1/23
Charge for the period
Closing balance on accumulated depreciation 31/12/23
Closing balance on fixed assets 31/12/22
Closing balance on fixed assets 31/12/23|Plant &
machinery
£
7,856
0| |---|---|---| |||7,856
3,142
1,571| |||4,713| |||4,714| |||| |||3,143| Page 19 |**8**
**Current Assests - Cash at Bank**
Lloyds Current Account
Lloyds Parish House
Lloyds Jubilee Account
Lloyds Restoration Account
CCLA PCC 623006003D
CCLA Parish House Charity 6001D
Cash in Hand
Total|**2023**
**2022**| |---|---| ||**Total**
**Total**
45,458
31,395
30,012
22,481
35,243
83,966
10,888
31,302
49,104
59,205
46,721
45,270
129
0| ||217,555
273,619| **9 Loan from the London Diocese for the Heritage Bid** A loan of £12,243 was received from the London Diocese in 2021 and 2022 to help support the churches Heritage Bid. £3,000 of this is due to be repaid in July 2024 and the balance of £9,243 in February 2026. |**10a **|**Movements on funds 2023**
**Unrestricted funds**
PCC funds
Parish House funds
**Total Unrestricted**
**Restricted funds**
Restoration Fund
Organ Fund (formerly shown as part of restoration fund)
Jubilee Fund
Diocesan Fuel Allowance
Grants towards Student led Choir: Mercers
Student led Choir: Westminster Almshouses Trust
Development Projectgrants: NHLF
Grants for floodlighting: Northbank Bid ltd
Grants for floodlighting: WCC
SMLS Speaks- Northbank Bid Ltd
Specified collections
**Designated funds**
SPT project
Stone work
**Endowment Funds**|**Opening**
**balance**
**Receipts**
**Expenditure Transfers**
**Movements**
**of**
**investments**
**Closing**
**balance**
374,464
129,233
(108,144)
(25,000)
(11,503)
359,050
67,751
18,970
(20)
0
0
86,701| |---|---|---| |||442,215
148,203
(108,164)
(25,000)
(11,503)
445,751| |||36,711
19,011
(395)
0
0
55,327
2,000
0
0
0
0
2,000
83,965
505
0
(50,000)
0
34,470
2,641
0
(2,641)
0
0
0
3,267
0
(3,267)
0
0
0
1,889
0
(797)
0
0
1,092
(6,958)
242,578
(283,795)
50,000
0
1,824
5,820
0
(3,620)
0
0
2,200
13,384
0
0
0
0
13,384
6,691
4,704
(11,395)
0
0
0
0
161
(161)
0
0
0| |||149,410
266,958
(306,070)
0
0
110,298| |||0
5,000
(3,793)
0
0
1,207
0
7,289
(25,149)
25,000
0
7,140| |||0
12,289
(28,943)
25,000
8,347| |||| |||954,019
0
0
0
89,758
1,043,777| |||| |||1,545,644
427,450
(443,176)
0
78,255
1,608,173| The North Bank BID grant for £11,395 was given to fund a lighting installation with professional voice over which told the history of the church. The event ran through January and February and was entitles ‘St Mary le Strand Speaks!’ NLHF Development Stage for The Jewel in the Strand Project – The church is now working on the development stage of the restoration project known as The Jewel in the Strand . We were awarded a grant of £520,00 to be match funded by the church with £100,000. To date the church has transferred £50,000 to the fund. Work is in progress to bring the project to RIBA Stage 3 and secure the funding of £4.1 million by August 2024. Drawdowns from NLHF are always in arrears. Page 20 |**10b **|**Movements on funds 2022**
**Unrestricted funds**
PCC funds
Parish House funds
**Total Unrestricted**
**Restricted Funds**
Restoration Fund
Organ Fund (formerly shown as part of restoration fund)
Jubilee Fund
Diocesan Fuel Allowance
Grants towards Student led Choir: Mercers
Student led Choir: Westminster Almshouses Trust
National Church Trust Grant for FeasabilityStudy
Development Projectgrant: NHLF
Resilience Projectgrants: London Diocese
Northbank Bid Ltd - Grant for Community Choir
Donation towards window cleaning
Grants for floodlighting: Northbank Bid ltd
Grants for floodlighting: WCC
SMLS Speaks- Northbank Bid Ltd
Specified collections
**Total restricted funds**
**Endowment Funds**
**Total Funds**|**Opening**
**balance**
**Receipts**
**Expenditure Transfers**
**Movements**
**of**
**investments**
**Closing**
**balance**
400,907
79,323
(90,411)
25,000
(40,355)
374,464
63,790
28,962
0
(25,000)
67,751| |---|---|---| |||464,696
108,285
(90,411)
0
(40,355)
442,215| |||42,259
250
(5,798)
0
36,711
2,000
0
0
0
2,000
83,878
87
0
0
83,965
0
2,641
0
0
2,641
0
4,500
(1,233)
0
3,267
4,040
(2,151)
0
1,889
279
0
(279)
0
(0)
0
52,378
(59,336)
0
(6,958)
0
9,244
(9,244)
0
0
6,668
0
(6,668)
0
0
500
0
(500)
0
0
0
5,820
0
0
5,820
0
26,500
(13,116)
0
13,384
0
16,464
(9,773)
0
6,691
0
60
(60)
0
0| |||139,624
117,944
(108,159)
0
0
149,410| |||| |||1,081,307
0
0
0
(127,288)
954,019| |||| |||1,685,628
226,229
(198,570)
0
(167,643)
1,545,645| ## **10c Analysis of net assets by fund 2023** |Fixed assets
Investment Assets
Current assets
Creditors due within one year
Creditors due after one year
NET ASSETS|**Unrestricted**
**Designated**
**Restricted**
**Endowment**
**Total**
**funds**
**funds**
**funds**
**funds**
**funds**
**2023**
**2023**
**2023**
**2023**
**2023**
**£**
**£**
**£**
**£**
**£**
3,143
0
0
0
3,143
291,906
0
0
1,043,777
1,335,683
172,172
12,340
120,996
0
305,508
(10,412)
(3,993)
(10,699)
0
(25,104)
(9,243)
0
0
0
(9,243)| |---|---| ||447,565
8,347
110,298
1,043,777
1,609,987| **Analysis of net assets by fund 2022** |Fixed assets
Investment Assets
Current assets
Creditors due within one year
Creditors due after one year
NET ASSETS|**Unrestricted**
**Designated**
**Restricted**
**Endowment**
**Total**
**funds**
**funds**
**funds**
**funds**
**funds**
**2022**
**2022**
**2022**
**2022**
**2022**
**£**
**£**
**£**
**£**
**£**
4,714
0
0
0
4,714
303,409
0
0
954,019
1,257,428
147,888
0
157,585
0
305,473
(1,551)
0
(8,176)
0
(9,727)
(12,243)
0
0
0
(12,243)| |---|---| ||442,216
0
149,410
954,019
1,545,645| ## **11 Related Parties** There were no payments of expenses to trustees or related parties in 2023 (2022 nil) incurred in performing their duties as trustees. No trustees or related parties received any benefits in kind or salaries from St Mary Le Strand in 2023 (2022 nil) Page 21 ## **12 Switch from receipts and payments accounts to accruals for 2022 omparatives** In 2022 the accounts were prepared on a receipts and payments basis but this was switched to accruals in 2023 as the income was now over £250k which is the limit for receipts and payments accounting. The following table shows a reconciliation between the 2 accounting methods for 2022 for the income and expenditure. |2022 for the income and expenditure.|| |---|---| |2022 Income
Unrestricted
Restricted
Endowment
Total
2022 Expenditure
Unrestricted
Restricted
Endowment
Total
2022 surplus/(deficit)- before investment diffs Unrestricted
Restricted
Endowment
Total|R & P figures
Debtor/creditor
adjustment
Depreciation
Accruals
figures
110,583
(2,299)
108,285
101,871
16,073
117,944
0
0| ||212,454
13,774
0
226,228| ||95,760
(6,921)
1,571
90,411
99,982
8,176
108,157
0| ||195,742
1,255
1,571
198,568| ||14,823
4,622
(1,571)
17,874
1,889
7,897
0
9,786
0
0
0
0| ||16,712
12,519
(1,571)
27,660| Page 22