THE PAROCHIAL CHURCH COUNCIL OF THE FOREST HILL TEAM MINISTRY
FOREST HILL, ST GEORGE WITH ST MICHAEL & ALL ANGELS. LOWER SYDENHAM
Charity Commission Registration Number 1150868
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024
CONTENTS
p1
The PCC of the Forest Hill Team Ministry
Accounting Policies
p2
The PCC of the Forest Hill Team Ministry
Treasurers Report
P3-p4
The PCC of the Forest Hill Team Ministry
Balance Sheet and Statement of Financial Activities
Independent Examiners Report
F6- p11 Sl George Parish Chufch - Fiiiaiicial Slal&ii8iils
p12
Independent Examiners Report - St George, Forest Hill
p13- p18 St Michael & All Angels Parish Church - Financial Statements
p19
Independent Examiners Report - St Michael & All Angels, Lower Sydenham
Not•8
1 The financial stalemenls of the PCC have been prepared in accordance with the Church
Accounting Regulations 2CQ6 using the Accruals Accounting Basis basis.
2 The parish of Forest Hill, St George with St Michael & All Angels, Lower Sydenham was
created on 25th January 2012 from the union of Perry Hill, St George with Christ Church
& St Paul and St Michael & All Angels, Lower Sydenham
3 The parish of St George, Forest Hill with St Michael & All Angels, Lower Sydenham has one
PCC and parish churches. The accounts has detailed financial information for each of
St Georges and St Michael & All Angels which is used to create the overall summ8ry
Signed on
Richard L
eam Rector
Parochial Church Council of the For8St Hill Team Ministry
(Perry Hill. St George with St Michael & All Angels, Lower Sydenham)
Simon Taylor, Treasurer
Parochial Church Council of th
,-1'15
rest Hill Team Ministry

THE PAROCHIAL CHURCH COUNCIL OF THE FOREST HILL TEAM MINISTRY
STGEORGE, FOREST HILL WITH ST MICHAEL & ALL ANGELS, LOWER SYDENHAM
Charity Commbssion Registration Number 1150868
ACCOUNTING POLICIES FOR YEAR ENDING 31 DECEMBER 2024
The financi81 statements are presented in accordance with the Church Accounting Regulations
2006, together with applicable accounting standards and th8 Charities Commission's revised
Slal8menl ol Recominended Praclice Ilhe Chafilies SORPI.
The accounts are prepared under the historical cost convention.
Funds
The General Fund represents tha funds of the PCC that are not subject to any réstrictions
regarding their use, and are available for its general purposes.
The Buildings Fund Is a restricted fund to be used for building and maintenance work * St
George's parish church.
The Children and Youth Fund is a restricted fund to be used for children's work at St George,
Parish church
The accounts include all transactions, assets and liabilities for which the PCC is responsible in18W
or over which th6 PCC exercises control.
Incomlng Resources
Incoming resources are recognised in the following manner..
(i) Collections arKI planned giving when received.
(li) Gift Aid recoverable on donations, when the donations are made.
(iii) Grants and legacies lo the PCC, when received.
(iv) Income from fund-raising and similar activities, gross when receiv8d.
(v) Investment Income and income receivable, when receivable.
Re8ourco8 U80d
The Parish Pledge paid to the Diocese is a¢r￿ullted for in the year during which payment is
sought, Any unpaid contribution at 31 st December is included in the b818nce she8t as a creditor
(Ihough not a legal liability).
Rosourcos Expended
Expendrture is recognised on the accruals basis as a liability is incuffed. Expendtture includes VAT
which cannot be recovered, and Is reported as part of the expenditure to which it relates.
Flxed Assets
Consecrated and beneficed property of any kind is excluded from these accounts.
Other fixtures and fittings are deprecialed on 2 straight line basis over 3 years. Individual items of
equipment with a purchase price of £1,000 or less are written off when the asset is acquired.
Current Assets
Amounts due to the PCC at 31 December 2024
Current Liabilities
Amounts owed by the PCC at 31 December 2024
P1

THE PAROCHIAL CHURCH COUNCIL OF THE FOREST HILL TEAM
MINISTRY: FOREST HILL, ST GEORGE WITH ST MICHAEL & ALL ANGELS,
LOWER SYDENHAM:
Charity Commission Registration Number: 1150868
TREASURER'S REPORT 2024
Introduction
The Forest Hill Team Ministry incorporates the parish churches of St George, Forest Hill
and Saint Michael and All Angels, Lower Sydenham.
The accounts show the overall financial position for the parish, together with the financial
statements for: Ihe parish churches of St George, St Michael and All Angels.
The 2024 accounts have been prepared on an Accruals Accounting basis (previously the
accounts used Receipts and Payments). The gross income of the Team Ministry
exceeded £250k in 2024, and it is a legal requirement under the Charities Act 2011 that
accruals accounting is used. Accruals accounting takes a 'true and fair view, which
means that income or expenditure relating to a financial period, but not received or paid
until after that financial period must be included in the financial statements.
Forest Hill, St George wlth St Michaol & All Angels, Lowor Sydenham
The overall assets for the Team Ministry at end 2024 stood at £131,411 a sizeable
increase compared to assets at end 2023 of £77,715). This is made up of..
31.12.2024
accruals basis
£75,516
£55,625
31.12.2023
accruals basis
£36,916
£40,799
31.12.2023
s basis
£46,914
£36,397
St Geor
St Michael & All Angels
Total
£131,141
£77,715
£83,311
After several difficult years, both parish churches in the Team Ministry had a much
improved finanaal result in 2024.
St George's benefitted from income from three major hirers throughout 2024: nurseries
at St Georges Hall and the Chapel, and a pre-school group at the Studio hall. We also
received a generous legacy from the estate of Margaret Exley and a further legacy from
the estate of Rev. Sheila Cameron (the latter to support work with children).
St Michaels proactively liaised wilh the Diocese in relation to their finanaal situation and
this led to an agreed reduction in their Parish Share. Successful efforts were made to
substantially redu￿ energy cosls and to collect unpaid hall hire incorne. The above,
combined with receipt of grants produced a useful operating surplus.
51 will be imwrtant for both churches lo further rebuiSd their financial position in 2025.
This is achievable provided key hirers are retained and expenditure controlled. Thanks
are due to the congregations of both churches for their generous support.
P2

THE PAROCHIAL CHURCH COUNCIL OF THE FOREST HILL TEAM MINISTRY
FOREST HILL, ST GEORGE WITH ST MICHAEL & ALL ANGELS, LOWER SYDENHAM
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024
Balance Sheet as at 31 December 2024
2024 {£)
2023 {£>
Flxed Assets
Current Asséts- St George
Debtors (Gift Aid Claimable)
Debtors (Legacy)
Accrued Income
Current Account
Instant Access Savings Account
8,077
1,CQO
646
38,476
31,448
79,646
7,019
154
16,312
30,602
54,087
Current Assets - St Mlchaol8
Debtors (Gift Aid Claimable)
Debtors (School Licence Fee)
Debtors (Organ Grant)
Accrued Income
Church of England Deposit Fund
Barclays PCC Account.
Barclays 'Hall Accounf,
1,*7
6,072
5,CX)O
1,812
5,481
73
32,270
45,811
160
43,763
58,850
Total Assets
138,496
97,851
Current Llabilitles- St George
Creditors due within one year
Income received in advance
Unpaid 2023 Parish Share
3,430
700
3,885
1,011
12,275
17,171
4,130
Current Llabllltles- St Mlchaels
Creditors due within one year
Income received in advance
3,225
3,225
Total Current Liabilities
7,355
20,136
Total Assets less Liabilities - St George
Total Assets less Li8bilities Sl Michaels
75,516
55,625
36,916
40,799
Total Assets Less Current Liabllitles
131,141
77,715
Represented By
Unrestricted Fund3
General Fund
112,769
36,280
Restrlcted Funds
Building Fund
Childrens Fund
14,663
3,709
18,372
38,726
2,709
41,435
Total of All-Funds
131,141
77,715
P3

TrIE PAROCHIAL CHURCH COUNCIL OF THE FOREST HILL TEAM MINISTRY
FOREST HILL, ST GEORGE WITH ST MICHAEL & ALL ANGELS, LOWER SYDENHAM
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024
Statement of Financlal Activities for 2024
. summarising the three funds in SORP (Statement of Recommended Practlce) format
Unrestrlcted Restrlcted Funds
General
Building Childrens
Fund
Fund
Fund
Total
2024
Total
2023
Income
Voluntary Income
Voluntary Income
Church Activities
St Gwrg•
Church Activities
St Mi¢h••E
Activities for Generating Funds st G￿rgO
Activities for Gener81iro Funds st Mich••l
Investment Income
St G￿rg•
Investment Income
St Mi£ha•l
Other Income
Balancing Item
Total Income
St Gotrrg•
al Miknli**l
76,104
16,558
5,892
532
123,367
42,432
1,000
77,104
16,558
5,892
532
123,367
42,432
846
1,buei
15,561
59,674
16,049
8,381
623
80,678
38,313
602
1,003
1,080
St Mi¢h•
15,SS1
282,800
1,003
283,800 206,403
Ex
enditure
Church Activities
Church Activities
Cost of Generaling Funds
Cost of G8neraling Funds
Other Expenditure
St G•or9•
St Mi¢h••l
140,035
40,937
24,513
20,555
271
4,063
144,098 151,514
40,937
52,172
24,513
19,116
20,555
16,104
271
193
St G•org•
St
St Mlcl*•l
Total Expanditure
226,311
4,063
230,374 239,099
Net Movement In Funds before transfers
56,489 4,063
1,OCQ
53,426 -32,696
Transfers between funds
Transfers between funds
St G8org•
St Mth••l
-10,OQX) 10.000
30,CVJO -30,000
Net Movement In Funds
76.489 -24,063
53,426
-32,696
Total Funds brought fofward
36,280 38,726
2,709
77,715 110,411
Total Funds carried foThv8rd
112,769 14.663
3,709
131.141
77.715
P4

REPORT OF THE INDEPENDENT EXAMINER TO THE PAROCHIAL CHURCH COUNCIL OF
THE FOREST HILL TEAM MINISTRY
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEM8ER 2024
I report on the accounts for the year ended 31 st Decembar 2024 which are set out on pages 1 to 19
The financial statements have been prepared under Ihe Church Accounling Regulations 20CE: in
accordance with applicable accounting standards and the Charities Commission's revised
Statement of Recommended Practice Accounting and Reporting (the Charities SORP) and
applicable accounting standard FS102.
The financial statements have been produced on the accruals accounting basis.
Re8PeCtive Respon8ibilltie8 of the Tru8toe8 and the Independent Examiner
The charity's trustees consider that an 8udit is not required for this year under section 14412) of
the Charities Act 2011 (the 2011 Act) and that an independent ex8mination is required.
It is my responsibility to..
81 examine the accounts under section 145 of the 2011 Act:
b) follow the procedures laid down in the General Directions given by the Charity Commissioners
58clion 145(5)(b) of the 2011 Act, and
c) state whether particular matters have come to my attention.
8a818 of Independent Examlner's Statement
My examination was carried out in accordance with the Gener81 Direciions given by the Charity
Commission. An examination includes includes a review of the accounling records kepi by the charity and
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 the management committee
conceming any such matters. The procedures undertaken do not provide all the evidence would be
required in a full audit, and consequently I do not express an audit opinion on the accounts.
Indepond?nt Examiner's Statement
In connection with my examination, no matters have come to my attention..
1. which give me re8sonable cause to t)eliev8 that in any materral respect the requirements
a) to keep accounting records in accordance with s.130 of the 2011 Act and Regulation 4 of the 20CE
Accounts Regulations and
b) to prepare accounts which arxord with th888 accounting records and comply with the requirements of
the 2011 Act and section 44(1 Ilbl of the 2005 Act and Regulation 8 of the 2006 Accounts Regulations
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.
Peter Stubbs
Treasurer
St Bartholomews Church
Sydenham

THE PAROCHIAL CHURCH COUNCIL OF THE FOREST HILL TEAM
MINISTRY. Parish Church of St George, Perry Hill:_ Treasurer Report 2024
Funds - The PCC has identified funds as follows in relation to St George's, Forest Hill;
Unrestricted Funds: General Fund - for general purposes
Restricted Funds: Buildings Fund - for building and maintenance
Children's Fund - for children and youth related expenditure.
The 2024 accounts have been prepared on an Accruals basis (previous accounts used
the Receipts and Payments). The gross income of the Team Ministry exceeded £250k
in 2024, and it is a legal requirement under Ihe Charities Act 2011 that Accrual
Accounting is used. This takes a 'true and fair ifjew, so that income or expenditure
relating to a financial period, but not received or paid until after that finanaal period must
be included in the financial statements.
St George had a much better year in 2024 with total assets (less liabilities) increasing
very significantly, standing al end 2024 £75,516 (end 2023 £36,916). This represented
by: General Fund £57,143, Building Fund £14,663 and Children's Fund £3,709.
The main reasons for this improved performance were..
three major hirers operated successfully throughout 2024; Little Legs Nursery al
St Georges Church Hall; Little Village Nursery at the Chapel,. and Molly
Montessori a community school using St George's studio hall. This more than
made up for the previous loss of Spectrum Montessori in earty 2023.
St Georges received a generous legacy of £20,000 from the estate of Margaret
Exley (for Gener81 Fund). We also received a legacy of £1,000 from the estate of
Rev. Sheila Cameron specifically to support our work with children. We are very
grateful for the generosity of Margaret and Rev Sheila and remember with
profound thanks their work and ministry lo St Georges and the wider community.
Due to this improvement in circumstances, St Georges paid to the Diocese £12,275 of
outstanding 2023 Parish Pledge (the Diocese halved our Parish Pledge payments for 4
months in 2023 due to the difficult financial position we were then in).
General Fund (Unrestricted Fund)
Income in 2024 increased to £206,210 {2023 - £147,452) primarily due to Ihe greatly
increased hire income and legacies (see above).
Voluntary Giving stood at £76,104 (2023 - £59,674), the increase due to Margaret
Exley's legacy. Giving from the congregation was relatively unchanged.
There was a major increase in hire income to £123,367 (2023 - £80,678). Little Legs
Nursery commenced full activily at the start of 2024 and we continued to get valuable
income from Molly Monlessori Community School, whilst income from other hirers held
up well. At the Chapel, income from Little Village Nursery increased sharply as we had
full year rental in 2024 (they started operations in September 2023) more than offsetting
a dedine in income from other Chapel hirers.
Expenditure in 2024 saw a sligm increase to £164,548 (2023 - £161,084). Expenditure
on Church Activities was relatively flat, noting that Parish Pledge remained unchanged -
under accruals accounting the £12,275 Parish Pledge due in 2023 (but not paid until
2024) is accounted for in 2023.
P6

utilities costs reduced to £19,866 (2023 - £22,468) reflecting a modest dedine in gas
and electricity costs - although Ihey are slill much higher compared to before the
Ukraine conflict.
Cost of Generating Funds increased to £24,533 (2023 - £19,116) due to continued high
costs at the Chapel. There was unfortunately a break-in at Ihe Chapel in March,
requiring substantial expenditure to repair and repla￿ windows; there was also major
work to replace fencing
Overall there was a surplus of £41,662 on the General Fund in 2024. compared lo a
deficit of £13,633 in 2023. After a transfer of £10,000 to the Building Fund, the General
Fund stood at £57,143 at the end of 2024.
Buildin
Fund (Restricted Fund))
Building maintenance expenditure in 2024 was relatively low at £4,063 {2023 - £9,545)
with expenditure on fire extinguisherslalarms, lift servicing, repair of the church be51
sound system, boiler maintenance, electricals, toilet repairs and kilchen work.
Children's Fund (Restricted Fund)
Al the start of 2024 this was a Restricted Fund for The Year 6 Big Event - an event to
support four local schools for the transilion from Year 6 to the next school. This Event
had been discontinued as schools could no longer fund this., accordingly, this fund was
repurposed to become a Children's Fund, supporting St George's work and ministry to
children. The fund increased to £3,709, due to Rev Sheila Cameron's legacy.
Balance Sheet
Assets (less current liabilities) sharply increased to £75,516 (2023 - £36,916). The
majority of assets is the bank account with Unity Trust (£69,924) plus debtors and
accruals - primarily Gift Aid relating to 2024 but received in 2025. Current liakn'lities of
£3,430 relates to creditors and 2025 hall income received in 2024.
Pensions
St George's Church employs an Administrator (who also supports St Michaels). The
current Administrator participates in the Pension Builder 2014 Scheme seclion of Church
Workers Pension Fund (CWPF) for lay staff. CV¥PF is administered by the Church of
England Pensions Board.
A valuation of the Pension 8uilder 2014 Scheme Is carned out every three years. The
most recent valuation was carried out at 31 December 2023 and the P82014 is
performing well.
Outlook for 2025
There is a positive outlook in 2025, provided the major hirers continue to operate
successfully throughout the year.
However, il is likely that there will be increased building maintenance expenditure, partly
as some work has been held back over past years. We are also considering how best to
use the legacies re￿iVed in 2024.
P7

STGEORGE. PERRY HILL: FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2024
Balance Sheet as at 31st December 2024
2024 {£)
20231£)
Fixed Assets
Curr•nt A88ets
Debtors (Gift Aid Claimable)
Debtors Legacy
Accrued Income
Current Account
Instant Access Savings Account
8,077
1,CrfJO
7,019
154
16,312
30,602
38,476
31,448
79,646
54.087
Current Llabllltle8
Creditors due within one year
Income received in advance
Unpaid 2023 Parish Share
3,430
700
3,885
1,011
12,275
4,130
17,171
Total Assets Le88 Current Llabllltles
75,516
36,916
Represented By
Unrestrlcted Funds
General Fund
57,143
25,481
Re8trlcted Funds
Building Fund
Childrens Fund
14,663
3,709
8,726
2,709
18,372
11,435
Total of All Funds
75,516
36,916
P8

ST GEORGE. PERRY HILL: FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2024
Statem•nt of Financial Activities for 2024
- summarising the funds in SORP (Statement of Recommended Practice) format
Unrestricted Restrfcted Funds
General
Fund
Building Childrens
Fund
Fund
Total
2024
Total
2023
Income
Voluntary Income
Church Activities
Activities for generating funds
Investment income
76,104
5,892
123,367
1,CX)O
77,104
5,892
123,367
59,674
8,381
80,678
602
Total Income
2CI8,210
1,QYJO
207,210
149,335
enditur8
Church Activities
Cost of Generating Funds
140,035
24,513
4,063
144,098
24,513
151,514
19,116
Total Expenditure
164,548 4,C￿3
168,611
170,630
Nel Movement In Funds before traiisfefs
41,662 4,063
38, Jf99
Transfers between funds
-10,C¥)0 10.000
Net Movement In Funds
31,662
5,937
1,000
38,599
-21,295
Total Funds brought foNard
25,481
8,726
2,709
36,917
58,211
Total Funds carried foNiard
57.143 14,663
3,709
75,516
36 916
P9

STGEORGE. PERRY HILL: FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2024
General Fund (unrestricted fund) - Income and Expendlture
Income
Voluntary income
Planned Giving - Grft Aid
Gift Aid - Tax Recovered In Year
Planned (>iving - non (?ift Aid
Collections at services
Contaclless Sum Up
Donations (including legacies)
2024 (£)
2023 (£)
32,322
9,797
7,950
3,g)8
1,C65
21,(E2
76 104
31,939
10,026
7,143
5,138
1.088
4,341
59,674
Church Actlvlllos
Fundraising
Fees
5,380
512
5,892
5.041
1.457
6,498
Activities for Generating Funds
St George Hall - Little Legs Nursery
St George I lall - Other Lattings
St George Studio Hall - Mollyhouse
Chapel - Liltle Vi118ge Nursery
Chapel - other income
37,392
23,815
14,800
35,100
12,261
123.367
8,300
2G,G31
14,485
12,800
18,462
80,678
Investment Income- bank Interest
602
Total Income
206,210
147,452
endlture
Church Actlvilles
Parish Pledge to Dirjcese
Ministry Team expens83
Payroll - Administrator
Services and music
Stationary I Printing
Cleaning
Utilities
Insurance
Church Giving
73,650
2,176
16,581
7,225
383
11,713
19,886
3,652
4,770
140,035
73,650
2,448
15,517
6,492
2,077
12.092
22,468
3,SJ1
3,725
141,969
Cost of Generating Fund8
Chap61 running costs
Bank Charges
24,177
336
24,513
18,724
391
19,116
Total Expendituro
164,548
161,084
Nat (D8ficlt)ISurplu8 for th8 year
41662
-13,633
General Fund brought forward
Transfer from Transport Fund
Transfer to Building Fund
General Fund carried forward
25,481
43,070
1,044
5,000
25,481
10,C()O
57,143
P10

ST GEORGE. PERRY HILL: FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2024
Building Fund (Restricted Fund)
2024 (£)
2023 (£)
Income
Insurance Claim
1,883
1,883
Expendlture
Sound system I speak8rs
Church Bells
Fire extinguishers and alarms
Lrft servicing
Electrical work
Gas Boiler Servicing
Ezyguide Hall Doors
Toilet I water repairs
Kitchen
Glass
Hall Floor
2,208
1,201
389
612
528
185
1,299
2,520
594
280
205
396
576
1,101
180
9,545
4,C63
Net (Deficlt)ISurplu8 for the year
4,C63
-7,662
8uilding Fund brought f¢Jrw8rd
Transfer from General Fund
Building Fund carried forward
8,726
10,CX)O
14,663
11,388
5,000
8,726
Tran8POrt Fund
Transfer to General Fund
1,044
Chlldren8 Fund (Re8trlcted Fund)
20241£)
20231£)
Income
Expendlture
Hall Floor
Net (Deficltysurplus for the year
Childrens Fund brought forward
L8gacy
Childrens Fund carried forward
2,709
2,709
3,709
2,709
P11

Report by the Independent Examiner on the accounts for Forest HRII, St
George 2024
The level of receipts and payments (being less than £250,000), and the size of the balance
sheel. confirm ihat the PCC require an examination rather than a full audii.
My examinalion has covered the accounts for St George. Th¢ accounts for Si MiLhacl
and All Angels are examined separately.
An understanding of the PCC'S organisation, accounting Tecords, activities and nature of
its assets, liabilities, income, and expenditure was gained from a survey of the aLcounting
records and discussions with the tre&surer. No major failures were identified in the
accounting records. An analytical review of the financial statements was carried out to
look lor inconsisiencies and unusual events in the year and compared t() prcvious years.
N() unexpected Ilucluations were discovered in the financial stal¢ments beyond thosc duc
to the pandemic. Enquiries did not revcal any post balancc sheet cvcnts whiLh would
have Sigvnificanl impact on the financial statements for the year.
Figures in the financial statements were cross-referenced to and checked otT a&yainst the
accounting records (cash book for receipts and payments) to confinn the links between
the two. A selection of vouchers (invoices, Sunday collections sheets etc) was traced
baLk to the cash book to ensure accuracy and completeness, and also t'rom cash book to
vouchers. Tcsts were made ot. the arithmetical accuracy of the financial statements and
the cash book.
St George's had a muLh-improved year in 2024 compared to 2023. Two legacies were
received. and the increased income from hiringj out thc facilities looks sci to conlinuc.
Total inci)me increased by over a third. while expenses were slightly down. Reserves
doubled to £75,500. which offers good protection againsi an inlemipii()n of inLc)me, or
emergjency works.
Peter Stubbs
Treasurer
St Bartholomew's Church
Sydenham
ff.IL

Treasurer's Report- Sybil Carey
Introduction and Notes to the Annual Accounts
Year Ending 31 December 2024
Forest Hill Team Ministry: The District Church Council of St Michael and All
Angels Church, Lower Sydenham
The DCC of St Michael and All Angels Church (DCC) consist of those PCC members of the
Forest Hill Team Ministry who normally attend St Michael's Church. The DCC is a su
committee of the PCC of the Forest Hill Team Ministry. It has delegated powers from the
PCC in relation to financial activities associated with St Michael's Church and Hall.
Objectives and activitles
The DCC of St Michael and All Angels Church has the responsibility of co-operating with the
incumbent in promoting in the ecclesiastical parish of the Team Ministry the whole mission of
the Church, pastoral, evangelistic, social and ecumenical.
Funds
The DCC has identified funds as follows..
Unrestricted Funds
DCC General Purposes Fund.. managed by the DCC.
Restricted Fund
We had a financial crisis in July and the DCC needed some money from this account
to tide us over. DCC decided to dose il. We reached out the Finance office at the
Diocese, who researched the origin of the money that funded it. The tra￿ showed
that the money came from the Unrestricted fund and was designated wrongly as
Restricted Fund, rather than a contingency reserve for the building. There is no
evidence that any of the money was given wilh any reslriction. Therefore, Ihis Fund is
renamed as an Unrestricted Fund and therefore is now part of the General Fund.
It is managed by the DCC and will be used to pay all expenditures for the church.
The account indudes monetary transactions, assets and liabililies for which the DCC
can be held responsible. They do not include the accounts of Church groups that owe
affiliation to anolher body, nor those that are informal gatherings of church members.
l am pleased to report that after many years of losses, St Michaels had an improved 2024
leading to income being higher than expenditure and the bank account at end 2024 was
£45,812 (2023 £36,392). The outlook for 2025 is reasonably positive.
The church's three sources of annual income are:
Rental from St Michael's Primary School £22,713 (Q4 is late due to the change of
funding source).
Congregational Giving £14,032
Tenants £19,128
P13

Rental from the church and hall from all tenants (induding School) is £41.841 this year,
compared to £32,832 in 2023. The increase is due to tenants dearing their large arrears
and increased fees from the school rental as a result of the review in February this year. We
do not have any major new lettings, but we engaged a Lettings Company to help us find one.
The church's top three sources of annual expenditure are:
Parish Support Fund (Diocesan Quota) £18,000.
We asked and was granted a decrease in Parish Fund. This will also be at
£18,000 in 2025.
Utilities £13,835 (reduced from £20,125, in 2023)
The utility bills remain high. With our Church being a large 1950's building with all
glass windows on all sides, it is hard to hea up, and turning off the Boiler in the
Summer months does not help much, as the daily rates are huge and still payable.
Significant efforts were made in 2024 to reduce the use of energy as far as possible.
Salaries £9,800
We held a Fete and a Raffle to raise money to restore our Organ which suffered an electrical
breakdown. We applied for a Grant from AIIChurches Trust Mission Money lo help restore
the Organ and was awarded £5000 but it is not yet received. We also received £2500 to help
with the equipment needed for the fete. The Organ repairs are ongoing.
We also applied for help to develop the Chapel into St. Michael's Church Hybrid Sensory
Chapel for children and adults with disabilities and awarded £5000 from AIIChurches Trust
and thal is in this year's account.
I thank our wonderful small congregation who regularly donate. A monumental thanks to
members of the Di¢xese for being so understanding and tremendously helpful. My thanks to
Simon Taylor, Treasurer of St George's Church, who is my mentor and advises me as per
usual, checks and sends off my Gift Aid applications and checks the account for
completeness. Also, to Peter Stubbs, Treasurer of Sl Bartholomew's Church for checking
the final account.
Notes on the Accounts
Note 1
The License Fee from St Michael's Primary School. The school uses church owned land
(most of the playground including the dining hall and the garden to the rear of the church)
and pays 'rent°. The License was reviewed in February and the current quarterly rate is now
£6071.75. The source of payment has changed, because the school's status is now an
Academy.
P14

ST MICHAELS & ALL ANGELS, LOWER SYDENHAM.. FINANCIAL STATEMENTS {ACCRUALS)
FOR YEAR ENDED 31 DECEMBER 2024
Balance Sheet as at 31 st December 2024
2024 (£)
2023 (£)
Fixed Assets
Current Asset3
Debtors (Gift Aid Claimable)
Debtors - School Licence Fee
Debtors - Organ Grant
Accrued Income
Church of England Deposit Fund
Barclays "PCC Account.
Barclays "Hall Account"
1,967
6,072
5,000
1,812
5,481
73
32,270
45,811
160
58,850
43,763
Current Liabilities
Creditors due within one year
Income received in advance
3.225
2,*5
3,225
2,*5
Total A8s8ts Lass Currnnt Liabilitles
55,625
40,799
Reprosentèd By
Unrestrlcted Fund8
General Fund
55,625
10,799
Restrlcted Funds
Building Fund
30,CQO
30,000
Total of All Funds
55,625
40,799
P15

ST MICHAELS & ALL ANGELS, LOWER SYDENHAM". FINANCIAL STATEMENTS (ACCRUALS)
FOR YEAR ENDED 31 DECEMBER 2024
ststement of Flnanclal Activlties for 2024
summarising the three funds in SORP (Statement of Recommended Practice) format
Unrestrlcted
General
Fund
Restrlcted
Building
Fund
Total
2024
Total
2023
Income
Voluntary Income
Church Activities
Activities for G6n8rating Funds
Investment income
Other Income
16,558
532
42,432
1,506
15,561
16,558
532
42,432
1,506
15,561
16,049
623
38,313
1,003
1,080
Total Income
76,588
76,588
57,068
enditure
Church Activities
Cost of Generating Funds
Olher Expenditure
40,937
20.555
271
40,937
20,555
271
52,172
16,104
193
Total Experxliture
61,763
61,763
68.469
Net Mov8m8nt In Funds before transfers
14,826
14,826
-11,401
Tr8nsf8rs between funds
Net Movement In Funds
30,000
44,826
-30,000
-30,000
14,826
-11,401
Total Funds brought folward
10,799
30,CK)O
40,799
52,200
Total Funds carried forward
55,625
55,625
40,799
P16

ST MICHAELS & ALL ANGELS, LOWER SYDENHAM.. FINANCIAL STATEMENTS {ACCRUALS)
FOR YEAR ENDED 31 DECEMBER 2024
General Fund lunrestricted fund) - Income and Expenditure
Incomo
Voluntary income
Standing Order Grft Aidable
Standing Order Non Gift Aidable
Envelope Scheme Gift Aidable
Envelope Scheme Non Gift Aidable
Loose Cash and Cheques in Collection
Gift Aid Income Tax Receiv8d
Charity Collections
Just Giving Sumup Alc
Other Voluntary Receipts
20241£)
2023 (£)
7,311
4,239
230
776
551
2,299
300
552
300
16,558
6,820
4,214
30
831
542
2,121
571
920
16,049
Church Actlvltles
Fees for Weddings and Funerals
532
623
Activltle8 for Generatlng Funds
Licence Fee for Land Occupied by School
Rent for Use of the Church and H811
Unrform bands
Seventh Day Adventists
I AM Church
Infonn Palates
Spectrum Montessori
Etoile Family Ltd
Goodtimes
Simple Solution Homework Club
One off18ttings
23,304
21,926
900
5,779
2,150
1,702
780
5,200
2,730
1,196
100
293
1,268
4,770
50
38,313
228
480
7,434
455
42,432
Investment Income
CCLA Deposit Fund Interest
Other Income l Grants
1,506
1,003
15,561
1,080
Total Income
76,588
57,C68
P17

ST MICHAELS & ALL ANGELS, LOWER SYDENHAM: FINANCIAL STATEMENTS (ACCRUALSI
FOR YEAR ENDED 31 DECEMBER 2024
General Fund lunrestrlcted fund) - Income and Expendlture
nditure
Church Activitie8
Fairer Shares (Diocesan Quota)
Diocesan Fees
Donations to Charities
Utilities
Cleaning Materials
Insurance
Repairs and Maintenance
2024 (£)
2023 (£)
18,000
352
73
14,095
26,350
150
180
18,832
603
2,745
3,312
52,172
2,747
4,883
40,937
Cost of Generatlng Funds
Salaries
Cost of Services
Organist Honorania
Catering
Administration Costs
Equipment
Professional Fees
9,800
4,443
3,735
537
160
9,929
1,092
3,597
764
490
232
16,104
1,881
20,555
Other Expendlture
271
193
Total Exponditure
68 469
Not (Deficlt)ISurplus for the year
General Fund brought fO￿ard
Transfer from Building Fund
General Fund carried forward
14.826
-11,401
10,799
30,000
55,625
22,200
10,799
Bulldlng Fund (Restrlcted Fund)
2024 (£)
30,000
30,000
2023 (£1
30,OJO
Building Fund brought forward
Transfer to General Fund
Building Fund carried forward
30,OJO
P18

Report by the Independent Examiner on the accounts for St Michael &
$¢
All Angels, Lower Sydenham, for the year ended 31 Deeember 2024
The level of gross income (IKing less than £5(K),000), and the si7£ of the balance sheet.
confim] that the PCC require an independent examination fdther than a full audit of the
acLounlS. The accounts are now being produced using Accruats mcihod given the
turnover of the Team Ministry. This gives a better picture of the income receivable and
the costs incurred in the year.
An understanding of the PCC'S organisation. accounting records, activities and nature of
its assets, liabilities. income and expenditure was gained from a survey of the accounting
records and discussions with the treasurer of St Michael's in previous years. No tailures
were identified in the accounting records. An analytical review of the financial statements
was carried out to look for inconsistencies and unusual events in the year and compared
to previous years. No unexpected fluctuations were discovered in the financial statements
beyond those due to the pandemic. F.nquiries did not reveal any post balance sheet events
which would have significant impact on the financial statements for the year.
Figures in the financial statements were cross-referenced to and checked off against the
accounting records to confirni the links beiween the two. Tests were made of the
arithmeiiLal accuraLy of the financial statements and the cash book.
The church was on a more stable financial footin&? in 2024. Ongoing income from
donations and rental income increase by over £4,000, while costs reduced by £7,000
(helped by a reduction in the quola payable to the diocese for 2024 and 2025). There was
a small deficit of £2,000 from ongoing costs and income, bui a surplus after grants and
other inLome. Reserves of £56,000 in the GcnLral Fund are above the recommended level
for emergencies.
Peter Stubbs
Treasurer
St Bartholomew's Church
Sydenham
Fiq