REGISTERED CHblRTfY 14UMBEK. 1147434 REPORTOFTHITRIISTEes AND P114ANCIALSTATEMEIITS FOR ThEYEAR VIDID 31 DICEMpeRxi24 Cfv3rtn1 AccountsrL8 4bl Fknr TU1¢￿ Fh)use 27-37 St Gaxge¥ Ro Imbi SW19 4EU PCC OF sr MARK KEP4NINGfoN CONTEp¥fs OF THE FINANCIAL STATEMEiirs FORIHE YEAR E14DED 31 DE(2MBER 2024 I to 4 B•l•n(• 5h••t Noto• to lh• Fkn•nd•lStstwnwts 8 ta 14 PCC OF ST IAARK KENNJNGTON REPORT OF THE TRusfEES VOR￿ YEIR ENDED 31 DECEMBER 2024 memters d the Partythlal Churth Courd (the PCQ, who ¥e also the trustees of the ch3rty, confimi that the annual rwt and financial stst&nent5 01 the tharfty have been wepared in accudjnce wth the at￿￿n￿n9 Olcles set out In note l and o)rwty &￿th the Chadfjes Art 2011, ts requIrem￿)ts of the chartvs govemln9 budy kmunung and Re￿rt[n9 by Cbariues.. Statwnt Df Recommended Practke apF4thbte to tharlties In preparfng tl*lr attwnts th ac£ord#Ke with the ￿nandal rewOThJ Siandord 102. A5ms ofthe tharlty St Mark* PCC has the re5lxw.￿￿ cl coffern¥n9 the liajrntont tn promoyng the cl the Churth, pthral, evangelL5U¢. soclal JThJ e¢Un￿￿oI. It also has MaIntenan￿ respons￿l￿eS tr the thvrth, Morttgomry Hall I Prfma Ro>Y. The char￿ COrn￿nUes tts seek to achkve fts alnts through vafloLLS obJe£t1￿. Th• bu5tees are aware of the O￿ty C¢fflmlsskns rnl and gjppknentary guidarKe M publk tenefft conc￿1n9 the thwtys alry￿ and constrntty seek to m4xkn15e the to ￿ publk and ¢ornunty al large. The P￿ ha5 conwled wmh dkty seckn 5 of the SafegwdirrfJ and Ckngy Measwè 2016 (duty t¢ hm dL ryd ￿S￿, S￿dan￿ on safeguardlty thlllren and vUlnernb￿ aduts). PCC OF sr MARK KENNINGfoN REPORT OPThE TRusfEES FOR THE YEAR EtIDRD 31 DEceMIIER 2024 QBJEcfIvEs AND AcrtVrnES Athle¥ements and perfomwnc• PCC melts whty e¥ery 2 morth. In the bst 12 mcntr&, the makn Issw dlsawj hwe ￿e2Th: i. st Marts cdebrated our Bkertenary Celebration thrwghout 2024. *ral 5￿CeS We￿ In fomwr (hurth membw5 feiumed to loln in gmng thanks for 200 yeats of fft￿p, rnlnty and mlsskjn. The *rdary General of the ￿11 COMMUr￿0Th p￿ched at the 30th JWe'l￿rth￿ ￿￿bratIOn. 2. Informal part￿[ShIP St. Wen's, south Lambeth, The ￿￿r, Rev C•noTh Stephen c￿tsOn k aL9J Prlest4n-thwge of St. step1￿.$, &￿th Lamteth. thls beln9 an addltional re5pCfisI￿11ty to hls belng th8 Vlrar of SL Mark's. 3. Chiklren & Ywth work The M)rk contlrwes to be IWJ by Dr. Levlt In a K￿ntsry capadty. The Ch empknys t part-fjme Ycth ther, LIa￿ra Qdlasempat and a Pastor, Roger Kdd (shared wth St. Ststhen'4 Srthh LJmt¢thl. 4. WrysNp mlnw by thnnl¢ Orc￿nN. S. F*a#h and welbeknJ. The Church tr* 'heoith fv)b' C￿ Frbjay afterrKws, whereby the Churth Is OF¢n for hearth ad￿Ce, keep flt se55bn5, ￿00d wessure aTrJ cther athke se￿￿9. Fftjitfvl pathershlp5 have been enjoyed wlth UK L•rnLth, the Beacon project IAs¢enslon Trtthl. 6. Safe9uardkng. The PCC updJbJ wllles and seeks c(xthndy to mrÉ+Jer155ues tr* w evtsyt¥)Jy as saft as p)$51t4e. En Webb aTrJ Aud* Clarke are the Parlsh gfeguardlng ChTKWS IPg)sl. 7. fimnces, Lèj by th¢ Trea5ur¥, a￿sted by the of thÈ ChuT¢h admirthtor, the KC has made éedsfy)rffj atjwt tr Church's Incomè and expenditure. We have rnade ￿gnIficant repairs to 111 three flats In Prima Rd, ond the Montgornery Hall Is malntslned ￿11. We pald £90,000 as our tontr*Utt￿ to the Olc¢e5e (Parish Support Fund) In 2024. We empby 6 peO￿e on part.time ba515, and i Ferson on a full-yme ba￿& 8. ￿￿11. Commurlty HJM cortSroJ*l to a¢wm￿?dltl cfik•5 lor of Llfe thurth, and Is used ty s￿eral con¥Nnty groups. 9. After a lew yews of d1xuS￿ vAthin ihE PCC and the wlder thurch, IhÈ PCC ctythue5 dIscu55h￿ wfth ts Dkncese In s&kng to agre a new developrnent of the Mcffltgow Hall and the VKarage 5tte. No dL￿￿OnS have yet been trken aboui an •JretsJ course or th. 10. The PCC ¢Mtlnued to be encouraged by bng stsndlr4J Partnerships with Sp&4r (Young adults belng helpèj to be WOrk￿readY1, and tr frU￿fUl ccfinettions wlth ary and County Famers. Market ICCFMI, and Surr¢y County Crlcket aub. ThL% year, the intemauonal relw thartty M*lalr toth up ocwatjon Ori￿ ro)ms In the up5f4lrs Cham￿r$ of the Churth. 11. ￿rthYard. ThÈ PCC conty.nued to wlth ￿ Dthse and Lambeth c￿n￿l The PCC ¢onlnue5 to W the week FamRrs Market In the land owned by the Church. The PCC zlso hosts the Coffe thll, and 2 ft53d tske￿ay sialls. As well s brfnglng In 9yne revenue, these activlues been benefldal tn reduclng any-￿81 tehavlour In the Churchyard. A de￿￿ated space iry thè Church Offi￿ has bee￿ developed as a Memorbl Garden. 12. The PCC provkle5 Governors lor wr Chuvth Prlmary *hog1, St. Mays Cthh of ErVI￿r￿ ts ￿rr￿ty thri¥l wlth outstandlng leèjershlp, and enfvlrYJ cOnffvjen￿ of the cunrnurmty. 13. Tr ￿n¥nu1￿j thaknge5 ￿ OpFrtinilSes for the PCC w￿l￿Je - DIstUs￿On5 around pos￿￿4e Montgomery H*1 dtreloprnert . Devdopmenl of iolkts ￿ kntchen In the Churth bulldl . Crypt . Partwship wlth St. Stepl*n's, arnl deve>)pma)t of thildren's Y¢th ryJtre¥h. STRucfuR4 GOVERIIANCf AND MANAGEMEiir Go¥ernlng dwment The chaTIty Is o)ntrolled by fs go¥erthg a deej umcorffttrd charfty. Thp Partth￿l Coundl (K the kdes1￿Col Partsh of St Mark K￿nIngton Is govemed by the Par0th1￿ thurth Ctyjnol Mtasure {1956) as aM￿dEd and ¢￿urCh Repre5entatlm31 Ru*5 that rame thito for￿ on 2 January 1957 PCC OF ST MARK KENNINGTON REPORT OF THE TRUMES VOR THE YEAR ￿lDED 31 DECEMBER 2024 srRVCTURi GOVERfi4ficE AND MANAGEMENT Oryanlsatlon Memt•s ofthe Parrtha thurth CUj￿1 ofthe Ea*slasU(al Path of St Mark Kenrdtyton arp the trustses clthe tharfty. Members of the PCC we or eknj by the knnual Pari*hil C￿rth P￿ting In acterdance vath the The str1￿lfig Cfjm￿ttee has the Fthr to tran5Xt the the PCC Ltheen ts n*£￿￿$, ￿bfvCt to arw dlrxuc￿s ty ￿ Councw. The FI￿ Corrmltt•e ofthe Cthurchwarda14 Treasurer ml SoJeW. T￿ Stsfflrq Group )fter 155ue5 cApacty to consk1tr awaW5, skn and r?Ju￿￿t. n&wry, F£C rewns dedsbn makJNJ powEts in lieu of Stafflro Group Cons￿leratI￿￿. The Mis￿on C4vlng Group makes declskJn5 cffj the thsburstment Gl to siipp)rt mlsth mlnw projxts, ewrlsatkns arKI Inffja￿S In accordance ￿th the agreed MlssStsn Glvlng pol￿. Rlgk pollcy The trustees have exèmlned the rnalor strategic, buslne55 and orRrthtoMI rf5ks whlth the tharfty la￿ and conflrn that are belrtg e#abSLshed to enat4e regular reprt to be so that the n￿ary #eps can t* taken to these rfsk& REFERENCI AND ADMINisfRATIVE DEfAILS R•ylrt•red a￿rIty Number. 1147434 Canon 5tsrAien thJlg)n Dav￿ Th¢ma5 Rjts Edmond Incumbent Wèrden War TW9Jrer Dawk4 L￿tt Sebasuan Fent Murntsz AJthur Fewa Davw Amefu Ialn Lunt 'mone Beate Adeswethlng Jan 08Jg Jane Namurye PraU9yJ Du￿1 Ollvette Tucker Gire5h Daby CarLline Lerriit Rev Akx Murya Wathn luntl 26 Mwl (from 26 W) Ifrtrn 26 May) (untl I SeptUTkn) (UTh￿1 4 Septefttr) Re￿￿tted Ollk# KC ofth• of st ￿rk K￿￿ngt st Marys Churth 337 Kennington Road Lond SEII 4PW TIWSTEES. lIESPONSIBI￿ STATEMeNT The INSt￿ are r85ponslble for preparin9 ts Rwort tsf the Trustw and thè finBnJ Wlmblekn SW19 4EU 9 Mry 2025 Ptt OF sr MARK KENNINfffoN STAT2MEKf OF FINANCIAL AcrIvmES FOR THE YEAR ENDED 31 DECEMPJER 2024 2024 Total Jnds Unrestrthd Resbicted fvnds funds Tot funts INCOME AND EtIDOWNE14TS PROM Donautyts and leydes 102,855 111,089 112,824 Charltth costs MI￿sty 17,702 Isjo 20,202 16,934 tr•Jlng aclvll*s Investmert Intorf 126,6S6 80,935 126,656 J,935 168,762 66,7SS T•tsl 328,148 io,n4 338,882 365,335 EXPENDMIRE 16,606 16,606 3,392 •rAJbl• •L*l¥ll Fundralslng (£6ts Jrftab￿{D5ts 396,n8 11,911 ,639 386,527 Totsl 413,334 11,911 42S,245 389,919 NEf INCOMEI(EXPEIIDmiRE) Tr•nsf•rs b•tw•*n fuTrd• (85,1861 (7,1011 {1.177} 7.101 (86,3631 {24,5841 mtyAm•nt InluTrth {912871 S,924 {86,363} 124,584) RECONaLIATIIX4 OP PUNDS Totsl fuThl5 bmutht fomrd 3,169,663 3,169,663 3,194,247 TOTAL FUMDS CARRIED FORWARD 3,077,376 5,924 3,Ce3,300 3,169,663 The rntesform wtdtre5e financ*1 st•ieY*nts PCC OF sr MARK KENMIN13TON BALANCE SHEEr 31 DECEMBER 2024 2024 Totsl funds 2023 Tclal fimd5 Unrestrthd fvnds fijnds 1.303,570 1,459,673 1,303,570 1.459,673 1,339285 1,459,673 Tar¥Jlbk a veJth*nt prape 1763,243 763,243 2,798,958 4,483 324,492 18,676 378,147 Cath ai b•nk 5,924 330,416 328,975 5,924 CREDTfoAS AmoLmts falwo due Lthln one ￿T io (14,842) (14.e421 126,118) 314,133 5,924 320P57 370,705 3,077,376 S,924 3,083,3C 3,169,663 3,077,376 5,924 3.083A￿) 3,169,f/J3 FUNDS li 3,077,376 5,924 3,169,663 Rtstrfcted fund5 3,OB3,300 3,169,663 fina￿81 statements 4pprovèJ ty the P*Jard of TNstees and ￿t￿r*I B May 2025 arKd were ￿9n•y on Ks by.. R Coulxffl- Tnjstee PCC OF sr MARK KENNINGTON MOTES TO THE FINANCIAL ￿ATEmENTs FOR THE YEAR ENDED 31 DECEMBER 2024 ACCQUMTING POUCIES Ba￿$ of preythg theflnanclal siatenwts T￿se fhandal tstements have been prepared th att0rd￿¢¢ with the Lfvritles SORP IFRS 102) A(couniing aTrJ RqJortiNJ by Char￿. Statement of RecoMm￿ded Practke appll¢aNe to ttRrSUe5 weparfng thelr accwnts In acccvdance ￿th the Nnandal Reporting Stsndard applkable In the UK and Republlc of Irdand IFRS IOZ) (effectNe I January 2019), the Rmndal gandard apF4tabk kn tr* UK aThJ Rewblc cl I￿￿nd {FR5 102) the thar Act 2011. These flnandal st*ements have prtF*ired to g￿e • true and falrf ar￿ have depArted fr¢m the charf￿$ (Accounts and Repgrtsl ReguL1t￿n$ 20Q8 On￿ to the e¥tent requlred to provtde a'tsue and tslrf ￿ew. Thls depjrture has Invdved followlryj the tharitle5 SORP IFRS 1021 (second edltlonl publisw Sn Ortober 2019 rnther than the ark1 ￿e￿ng by Charlues.. Staiement of RecoMrn￿de0 Prnthce effecuvt from I WI 2005 whkh has since teen wthdravm. The Cha￿ty meets Ihe d&lnSUon of a publk benenl enty FRS 102. A55ets lIa￿lI￿e5 are Imjalty rec(*Jnlsed h15torfol cost or value unless otherwse stated kn t1￿ re*vant ￿￿unIjThJ po*¥. Inc4m• AU Intome is rrfognlsed In the Strtement of Hnanctsl Ath￿￿$ oKe the charfty hjs errtlt*Ment to the funds, probabk that Ihe Income wlll be rècdved the amount (an ￿ [r￿S￿red relab￿. EMp•ndltur• u8￿lI￿e$ are recoJnLsed as eypendKure as as there Is a legal or Constn￿ve obllgauon ¢ommlttlng the ¢harty to that exrondilure, It Is probabk that a iM5fev of e￿¢¥nIC t￿fitS ￿11 be requ[￿ ID 5eidement and the amount of the oblKJaYon can be measured rdabty. E¥pendibJre Is accounted for ¢Jn on a¢¢ruals basls and h&% been cL4sslfRd under dhgs that aggregate all cost rela￿1 to the cateaory. Where Costs (annot bp dlrettty aitriLxJted to p3￿CU￿r headln95 they have been allcuted fo acti¥ltle5 on a Ws contht the ol reswrces T•nglbl• fixed aseots DewedaJcn Is pro¥￿ed at follNhig amual raies In order to wrfte off exh a55etover its amatsd usefkl lft, Jt vadabk rntes on tost 20% on Cost xtwes aThJ flttlws InTnStm•nt proyekty Invethent property i4 shown èt most r¢cent valuathn. Any &Jgregate surFkn LY artslng th)r￿e5 In falr value Is reco9n15ed In the Statement of Flnjndal Artmtles. Tax The tharlty Is tI￿nF¢ from tsx on Ns char5tthe l￿d ac(ountlng umstrfcted funds can te used In %%tth the tharflablt ob*ttfves * ihe dtscrthn tnjs RethLted fvnds can On￿ be used fvr ￿lIti￿13r re5￿cted wrposes Yithln the objects of the Restrlrtlons ¥1se when 5pecffled ty tr* èon￿ or when knd5 are nlsed for partlcubr restrfctsd wrt Furfther ¢xF4an8Yon of the natwe and wrpose of erth fvnd Is Indud8d In ts notss to the nThandal statements. EMPLOYER pNirtldpates In the Penslon Bullder &heme section of CWPF for lay 51aff. CWFf is admknnstered ty the a)urth of Engl￿d Pensions eoard, wh¢th hdds the CWVF assets separatety from tYKJ5e of the Employer and other émpbyets. l. the Defined Beneffts thme 2. the Pen5hM Builder Scheme, which ha5 M subsections. a, • defwred annulty S￿￿0Th kno%sM a5 Byllder aa$￿c, and, b. a cash tr#ilan￿ section known as Pensk>n Bulkler 2014. PCC OF sr MARK KENNINGTON NOTES TO THE FINANCIAL STATEMENTS- ￿ntinUed FOR THE YEAR ENDED JI D￿NDEft 2024 Pengon Scheme PA)th secty￿ ofthe Bulbjer ScheThe are as definejj kn&f( Bullder aass1¢ provlde5 a pewcfi, Kcumulated from cMtrfouUor6 pahl and ¢OnVert￿ Into a defar& amu durino anpbyment ba*d on tems set and rev*wed by the Church of EngLind Pen5kns Board from Yme ty Ume. DISCfthnary in¢reases rnay a150 be add&1, deF￿hn9 ￿ investment tthms Ot￿ f4tors. Pen￿On PAJlbJer 2014 b a cash tyalance xheme that P￿￿deS a ￿rnp Sum whlch mgmters use to yo￿de benef5ts at rebrement, Penlon contributknns are rthed lft an Kourt for each member. Dlscrdlonary bJnuse5 may be ad(kd before reU¥emen[ depepdlng on invext rebJrns and other factor5. The account, p￿S bonuses d**red Ls Lweduc•J, frorn age 65, Is rKJ sub4M*Jn cl Jssets tynpby£￿ In eth sertlw of ￿ Penston Buvdw thme. The scheme Is ujnldered to be a mulU-￿PknYer xheme a5 descrlbed In Sertlon 28 of FRS 102. This Is because Y( Is not pwslbk to attrfivrte the Pwsien Bulbjw Sthen*'s assets and Ilabl1￿￿# to SFedlk emJoyer5 and means that contrSbutlon5 are accounted lor as rf the We￿ a defined C￿bIbU￿.0ft scherne. The Fen5bro cogts charggj to thè SOFA in the year are the contributlorts payobb12024.' £4,479, 2023.. E4,3771. A valuthn of the Per￿Kn ￿Ik￿er $C￿ne T5 carfed ewy tPYe¢ year5. The m05l relert V￿U￿t￿n carrled Ji a5 at 31 c￿rnb￿ 2022. Fc¢ the pen￿On &JllYer OJssl¢ S￿n, valuauon reveakd a surtyus of £34.8m on the orrfJdng a5sumptlons used, At the most ￿￿t annual reylew effectfve l Jarw#ry 2025, the Wrd chose to grant a d&retbnary tKnus of 6.7% trs both pen5h1ns r¥Jt yet in ￿YThent and penlons in payment Irs resFed of seNlce prbr to Wl 1997,. and a bonus on wslon5 ITr paymert in respert of post Aprll 2006 servkt so that the pen51on Increase was 1.7Vo Ivthue usually It WOU￿ be calculated based on Innalon up to 2.5%). This followed Smpr¢)vements In the fundlng posttbn 2024. Thexe Is reJHremurt f¢* dendt pbyMt5 at the cutTent tkne. The next Is due a5 at 31 De￿rntrf 2025. For the &Jlkler 2014 sethon, the vahjatbn revealthl a s￿￿[uS rf É8.5m on the ongthg 4S9jmpU0￿ uwj. Is no requlrement for payments at the Cut￿nt ￿Me. The lèjal stnJctyJre of the Kheme th4t11 *(Aher empbyer falLs, WLOYER could become payh thare olthe empbyees lknt411 QTHER TrADIIIG ACMIT 2024 2023 Hlre Income- Mc• ya Hlre Church Spxes Sundry IrKoma 67,779 58,626 251 I06,480 61281 126,656 168,762 PCC OF sr MARK KENNINFfoN NOTES TO THE FINANCIAL STATEMENTS- ¢•nUnwd FOR THE YEIJR EMDED 31 DE￿MpER 2014 INVEsfMENT INCOME 2024 2023 Rerts Invethent prcFety Eep)sTt account Interest 60,370 15,387 80,W35 66,7S5 RAISING FUNDS 2024 2023 16,606 3.392 TRiISTEes' RewNeRAIION AND BENErrrs There 4¥ere no tru5re45' rernunwatkn ty other ter*ffts lor the year endgj 31 DK*mbv 2014 r¥y for the wr eTrJv)J 31 c*can￿r 2023, The Vkar other KC memters ¥sve re1mbu￿d for exkws In thE year £583 (203Z £￿1} Iwed In conn&ty¢n thdr ro* as memtets of the PCC. Cots knojrred orKI r￿mI￿jrged whlk xlJrnJ as awts fcf the PCC are rrt requwed to Isdc*ed. COMPARATIVES FOR THESTATEMENTOP VKNANCIAL ACrnITh To>1 dg l￿d5 fwds INCOME AND EtIDOWMiNTS PROM DMa¥ons and legKle5 112,824 112,B24 Ch•rlt•bh •rtlvlil•• 14ntstry Inctvne 16,934 16,994 Othr trJ(Ing thIUes 16B,762 66,755 168,762 66,755 Total 365,335 365,33S EXPEtIDrnIRE ON Thj f￿d5 3,392 3,392 vKabl• athtiti F￿￿aISing tosts 386,527 386,527 TDtsI 389,919 389,919 i*r IllCOMEI(EXPENDITURE) 124,$841 1,375,Cthl {24,584) I1,375,Ot￿J) Net ITh fvnds 1,350,416 I1,3￿,000) (24,584) PECONCXUATION OF FUNDS funts i￿￿￿tfo￿*d I￿19,247 I,3￿.005 3.194,247 -io- pcc OF sr MARK KENNINGTON NOTQSTO THE FINANCIAL sfATEMEi¥fs. crtlnwl FOR ThE YEAR ENDED 31 DECEMBUI 2024 Total fw)ds I)J￿$ TOTAL FUNDS CARRIED FORWARD 3,169,663 3,169,663 prop flttlrlgs Totals At l Janu•y 2024 and 31 Dtt•nlxr 2024 1,446,429 73,911 1,520,34D DEPREaAffON At l January 2024 Charye for year 107,144 35,715 73,911 181,055 35,715 At 31 DKert* 2024 141859 73.911 216,770 NET BI)OKVALUI At31 2024 1,303,57D 1?03,570 At 31 D•cernt¥ 2023 1,339,285 1,339,285 INVESTMENF PROPERTY FAIR VALiV At l January 2024 ard 31 Decen*er 2024 1.459,673 NEf BOOKVALUE At 31 D￿eMtser 2024 1,459,6n At 31 December 2023 1,459,673 DEBTORS: Amouiifs FALLINg DUE wmiiw JW. -13- PCC OF ST MARK KENNINEfoN NOTES TO THE PINANcfAL sfATEMENTS. cMffjnu•d FOR THE YEAR ENDED 31 DEaMOER 1014 12. RELATED PARTY DISCLOSURES. e•ndnued On Lhe OCfaSKN)s that Funeral Dlredoys pay the'Mln15ters Fee, to the Vlcar (rather than dlredy io the thurthl, the fee Is then rwnttted by the VkJr to the Church, who, In tum, remlt the appropriate amount to the Dkxese, In accordan￿ ￿¥th the pr￿dureS rg3ardlng 'aOgned fees, lald down by Il* thurch of Engtand. ￿rfn9 tt)e yeaT 2024, fees amount1￿ ¢0 £ 228 were paid to the PCC from the Vicar. We cononue to ask the Funernl dlrectors to make payment direthy to the -14-