St Michael's Souihfields
Annual report and financial statements
for the year endcd.31 Deecmber 2022
Charity. Regisiraiivn number. 1151881
Compdlly ReLJl5tralion niiinber.. 08337329

Sl Michgel's Southfields
Annual report and financial statements for the year ended 31 December 2022
Contents
Page
G¢n¢ral information
Annual report
Ststemo￿t of the responsibilities of the trustees
Independenl ex#minLr's report
Bal#nce shtct
Statement of financial #ctivities
Cashl]uw Statement
Yotes to the fiDaneial statements

St Michacl's Southfields
Annual report and financial statements for the year ended 31 December 2022
General information
Registered office
71 Wirnblcdan Park Road
Southfields
Londun
SW18 5
Trustees l Directors
Mrs Rosemary, Hyde Iresigncd on 28 Pcbtuarv 2022).
Mrs Katharine r.Iliott
Mr5 Kimberly Dennis
Mt AndTew, Lucas
Mr Edward Hick
Mt5 51¢pped due to family rc850ns
Secretary
Rev Stephen Melluish
Honorary Treasurer
Mrs F.lizalKth Jukes
B#llk¢rs
CAF Bank
25 KingT5 1 lill Avenue
West Malling
Keni
ME19 4JQ
Independent Eximintr
Hclcn Wildmdn ACA
London

St Michael's Southficlds
Trustees, annual report (including directors, report)
Aim and purposL'S
rh¢ aim of %t Michacl's qouthficlds i£ the ddvdnccrncnt ol-the Christian faith, Inaijily M'ithiti tlie ¢onfiIies ofihe
r.cclcsiaEtical I'arish of St Michael's £ouihfields Lind the s￿￿oundi1}uT area%. 'I'hi8 aim 1% io hc acliiLved rhroubli Ihe
prnvi%ion of recreational and other facilities, namclv ai 13raihiva)' H811. Souihfi¢lds, foT ihu5¢ in n¢¥d by reiison of
their age, infirmity or dis3bilirv, f1nancial hardship or social and ecoiiom IL LifLLlmStdnLes, ur fLir the piibliL at large in
the inicrests of sDci21 M'elfare. I'he object nf sucli actiwjlies is 10 iTnprove the condition of lile of said inliabitants. Tlie
nbjcclive5 carried aiir as a proclamaii(>ii of ilie beli¥1s set in Article 8 Ol'the Articles of Association dated 14
Deccllibcr 2012 (dale nf into￿oration 19 Llecember 20121.
Objeetis'ts and activities
'I'hc main objeclives ol.tlie financial y¥<ir were.
En%ure the smouih occupalion of the dpdrttnents 5iluaied dbove Bratliway Hall
nsure the cuntinued niainienanLe ut tlic hall and apartments.
Tu dTrangc a programme of actlVTties such thai rhe hall would l)e used for its intended purpo%c_"Ilie piirpose
af the ¢nmmiinity hall is ti) pmi'ide laciliiies and Services iji line Kvitli ihe charitable objectiv¥s vf St
Michael-5 Soiiihficlds iiiL luding-.
cominunity feeding priigTr&rtimes- faLililies and s¢rviL¥s for the hotnelgs5
dclivilies fL)r thc clderlv
erviccs fDT dIsad￿antag¢d families and Tndjl'idi￿I5 and many more lacililie5 and
seri'icc% io be agrecd b). thc tr115tccs.
Achieiemtnts and performance
Tlie hdll i¥as used for n)vst ol Iht year to provide a sedled community lunch for members of the community
experiencin¥ lidrdsltip uf dri J kind or ju%t rcquiring) Luillpdn} dnd social interaction. A iveckly Llkraini<2n Suppcr was
¥stablished on Frid<ik eveningjs Irum Ma), ?fl22 10 enable Ihose Ukrainian rcfvgee8, fleeino the li'ar in their country to
ccl arid eai tog¢iheT. In 20?3 this Iidb EYLuine Li montlil> activity. The hals WdS F¢bTuldrly used to cook rncal% for
Sparkle, die intergy¢nerdtional projeLt dl Si Stephen's Church which was establixhed un d Ii'eeklv bdsis in ?02? and in
2021 nioved to a IiviLe weekiv projecl. The Ital I WdS also used thrnughout Fjectymber 7022 10 prLpdre li)od biiTidles far
Ihose experienciiig li(Irdship ai Chrisim&%. Si Michdgl's Church rcgTularly used the hall for childrLn's and yOLlth
aLtivilie5. OcLasional hireis and users iiiclude NCT INdlTundl Childbirth Trust) ¢oiJrscs, a wcekly N'A ￿arLOtic5
Anonymuu5) xruup.. aiid d I￿al Bro￿￿leS pack. The h<ill opencd during the dav on Tu¢sda!'s for rhc w'inier
monihs undei Ilie'lllann Spaces" initldtivc. This ￿aS t(J PTOI'ide d iiarni cnvirnnment and light lunch to those
struggling to pa), li)r gas and eleLlriLilJ in thc cn%t of living Lrisis.
The sna&gTing Morks to be Loniplctcd bj, the bijilder werc not CPTnpletcd and it M'a% agreed thai the £9.300 contingency
lee for this ii'ork w'ould not be paid. An alternarive contrnctor ha% been engagcd to complete rhese works in 202.3.
Lunsequently, some outSl<indinL papcrwork and sign-off documentatlilll IS Slill anticipated.
Finanlial rcview
Total illLornc was £90,).$6 in 20221?021.. £214.025). v,hi¢h M'as dcrii'cd trom donations dnd grdntb ds H'ell ¢1￿ renlal
income from the 2 apartments <11 Braihwa!, Hall. In 2021 tlie PCC ol. Si Micliael and AIS AngJ¢ls, ￿1th Si Stephen
WandsM'É)Ith I'ili¢ I'('.C"I dorlated £22,.500 being £1.875 per illontli as ag)reed in Ihe budglei. No such dniounls NTrere
receiNcd in 20?2. Individual donatinns ioialled £6? 000 including Gilt Aid {2021". £166,000). Chiirch iyorkers reiiled
thc apartments ai a siibsidised rcnt genetating reiital income of £23,77912021". 24.0001. £4.577120?1.. £1,525) rentdl
was received for ihe hall b(M)kings thai took placc during the y¢ar.
Thcrc K%'<lS no ￿nI]cr dram. dO￿n on rhE mort8age In Ilie year l?021". £￿1) dnd £59,3?5 was iepaid12021.' £165.2081.
Ai yvar end ilic outstanding mortgage il'as 114.002 {?020.. £7i.9271. Additions to thg lltnd (ind buildinLTs were £nil
(20?1.. £4 4JO hcing late invoiccs for iinrk conipleied 11] 2020).
Fxpenditure consisted of £1 11,96312021.. £7.3651 iji respeLI vl-bdnk ch<lTLTre5, Utilities arid iiisurance and £1.61712021'.
£5,897) inlergst pa)TncntS Oll the mortgaoe drawdnm'n. £12.000 {?021." £9,000) of starrcosts li ere paid to 51
Michael's Lhurch for ufe nf rheir staff. l)cprcciati(Trn o1-£3,Oi I1?021. £3,051 } charged on the Iixlur¢s dnd filtinLJ5
folloThing the Lomplciion of ihe building in 2020.
The dirccttJr8 have assessed thc land and buildii)g to l)e valucd at an npen Inarkel Vdlue of £1.245m as at 31 tkcember
202212021.. £1.245m).

St Michael's southfields
Ai thc end nf thc year thLre ivas a cash balanL¢ ()f £31,84312021.. £26,963).
Rescrves policy
The reserves polic) dims tn niainlain <1 b<ilance on free reservLI Inct Lurrent assets) of ai least 3 Tnonths PayTnents. At
year end nci Lurrent as%ets ioiallLd £32,548. Thre¢ months iu]re51ricted payinents are estiniated to bc £6,000.
Structure* gol'erna￿¢t and rt]anaE¢ment
Si Michiiel's 8outhfields is d Luriipan}' limitLd by gudrAntee, incorporatcd on 19 DtCLmhLr 2012 and reg)istered H'ith
the Charites Commission on 2 May 2013.
The irusiLL5 have control of ihe charity, and 118 pri)perty and lunds and opcrdtc in aGcorddllLL W'lth the Arti¢le5 or
As4nLialivn.
The method nf appoinirnLnt of trustees 1% %et out in the Articl¢s of Association. The Irustees and Stcielary, as at 31
December 20?? are llaTned above undci Qieneral Informaiinn.
The trt15rc£8 are respi)nsible for making decisions dll niallttrs of general coiicem and impL)rtance to the Cumpany.
incltidine deciding how the fund5 are to he.srent. I"he trustees mei twice iii ?02?12021.' tI￿lle). thy 10 da
managemcnt of the Companv is undertakeii b). Ihe Secrclaiy to¥eiher with a ieam of btdff employed bj Ihe PCC.

St Michael's Southfields
Statement of the responsibilitLf5 of the trustees
The iTUStees (who aTe also dircctors of gi MiLliael's Souilifields for the purposes ofcompdni, la￿) dre responsiblc for
preparing thc I rusiees, Annijiil RLport aTid Ihe lin&tnLial 51atenienls in llLCQ)Fddnce willi applicable l¢lKV diid UnTrt¢d
Kingdom Accounlill4 Stiindards (Lniled KinLJdom Geiierallv ilcLepted ALLouniiiig Practice) iriLluding FRS 102 ' I'he
F'inancial Reportlllb Standard appliLable in Ihe UK dIid KepubliL of Ireland
(".nmpany laiv requires the trusle¥s to prtpaie finaiicial 5Utemenls for each finanLl<il s'e￿ M'hiLh UTIVC d true and fair
vie¥v ot rhe 51<lte of affairs of tli¢ charitsble ci)Inpany dnd of Ihe incotnin¥ resources and applicBtinn nf rc%nurce£,
InLluding Ihe income and exp¢nditure, of the charitable compiin). fur Ihdt period. In Preparing ihcse financial
t<ilements. Iht trustees are required to..
select 5Ultdble aLLouiilin¥ pulicies and iheii applv iheni cnn51.8lcntly'
ubser¥'¥ the mtthods and principles in thc (-.hariiies SORP.,
make judL7Tneiils and eslimdtes Ihdl are rca50nable and priident.
Slale ￿llether dpplicable UK ALcul￿tIng Stand<2rd% have bccn follnwcd; and
prepar¥ the lindllLial sthtemenis un thc going concem babis unle45 It is illappropriate to pre%umc that the ¢h3rilable
cumpany will continue in busine5S.
The Iruslees arc rcsponsibl# f()r kecping adcquate aecountin8 records that disclosc ￿1th reasonable accuracy at any
IiTn¢ the financial pnsition ot the charitsble cnmpanK and enable theni to cnsurc thai the financial stalement5 comply
with Ilie Cornpanics Aci 2006. The>. are also rcspnn.sible Ior 5aleguaTdiiig the a%8cts Dl'tlie cliaritsble company dnd
hence for lakin&T ￿9%￿nable llcp% for the preijcniinn and deleciion ocfrdud and othcr irregularilies.
In so Idr as the irusle¢5 are awarc..
Iliere is no relevdlli inlorniatinn of wliich (he LhaTltablc compank'.% examiner is iinaw.arc- and
tlie truslees hav¢ tdken all steps that they ought to h3VC t3k.eii 10 make Ihem%elves ai4.are ot.any rclcvant infomlalio
diid lo establisli thdl the Tiidepeiideiii cxaminer <il*drc of that informaiinn.
'Fh¢ Iruslees art reswnsible lor the mair)tenanee and TnteLFrit)' of the corporaie and financial intomation included
lh¢ Lhdritable coinpaiiy's i4Jebsile. It'appli￿b1e. Legiisldtion the Ilnited Kingdom govlming rhe prepaTaiion and
dissernindlion ol. Iinaticiiil st&ttetnen15 Inay differ frotn lesyjsldtion in otheT jurisdictions.
The C-.onipany lias iaken aJi'(Int<lLTe ol'the siiiall ioiiipanies eAt￿p[lOn in preparing the report aboille. The irustCe5
dcclare tha( they liai'c apprvi'ed Ilie ITLlStees' report liii¢luding directors, rcport) ahnve.
.£igncd on bchalf ol'the charity'% irusivesldirectors
Name..
Date..
Jl/Jfl>g 2023
Naine..
Date..

St MiLh2el's Southfields
Independent examincr'¥ report
Reporl lu the trU￿tee.￿ Ibf 4t MiLhael'5 SouthfiL,Id% the account4 f()r ycAr ¥nded 31 DLcetnber 2022 (C.harit}'
Registralion numher: I ISIX¥I,. Con]panTr' Regislratiow numbtT.' 083373291
I report to ihe Lharit! trustec% on my examinalivn of thc acL()unlts ofihc Company for ilie J'¢ar ended 31 1)ecLii)ber
20??
AS thc charip) % IruNILLS IM.ho are R150 tlie direclor.g ofihc comp8ns' for the purpo%¢s of ¢onipany lawl, J'oii are
responsiblc for IhL preparation of the ac¢nunts in a¢cordan¢L' w'ith IhL fL4uirLmLnt% i)f thi Cnmpaiiies Act ?a06 ("the
2006 Act").
laving satisficd my%Lifihdt tlie accoujits of the Coinpaii}' 3rL' n()t rLquirLd i(1 h¢ audiicd for thi% vcar under Part 16 of
the *006 ilci (ind dre eliLTible for iiidepLnd¢iil ¥xamiiiatii)n. I repon in respect of Irs ex(imiiiaii()n ()I'Ynut' Clidritv s
accoun1% Ldrried oul under sectioii 145 ()I'thL (-.harities ALt 2011 I'"the 201 l Act'-l. In Liini'ing oui In
cxaminaiion, I have foll()i%Ld the LIITections giveii by the Chariiv Li)iiimis%ion (under sL'¢lion 145(51(bl} of the 201
I hai'e completed Iny examiiiation. I ciinfirm that J)0 material matter5 liave come to my attejition w'Fu"ch give me cause
to believc that..
accounting rbciirds were noi kept in accordanLe with %eciioti i86 ofilie c.ompanies ALI ?006', or
the accounts du iiol accord with records: ijr
the accounts d() nc)I coinplk with relevaiit accounting7 rcquircnients under section 196 of ihL C.oinpaniL8 Aci 1006
other than ￿lY rLquirenieTiI ihat the dLLounls LTrivc d 'truL and fdir view Mhich 18 tioi J mdtlLr Li)n%idci'Ld as Pilrt
ot'an iiidepeiidcnl ¢XdmTT12tion' 01
tlic ac¢L)unts have Doi been PTeparcd in aLC()rdance with tlie Charities SOIII, (FRS102).
I hai'e no concerns and liavc L(Jnie aeross no vih¥r mdtle15 in connection ￿'Ith Ilic cxaminalion lo which dttenlion
sh()uld bl, dr¥J￿￿ in this report iji i)rdLr to eTiable a prijpgr iinderstdnding7 ofihe accounts lo be iedched.
lelen Wildman A(.'A
Lojidon, United Kiiigdom
2 October 2023

St Michael's Southfields
Balance sheet
At 31 Deceinber 2022
2022
2021
Fixed a55ets
iingyiblc d*%LI
In*esirnLnls- social inN'e5tsMents
076,527
600.000
679,578
600,000
Current a5set5
C(i%h al bank
31,X43
5,045
26,963
6,S08
C.redit()rs- dmolint￿ falling due k4'iihin i)ne )'ear
14.3401
16.1471
Net current #5Stt5
27.6?4
Tutal currtnt liabiltti¢
1,309,07i
1.307,20?
Crcdiiof% ttm()Iiiit.s fdllinL7 diie after onc, Near
(12.6021
(7? 984)
Total net assets
1,296,471
.2?4,218
RtStricted
1 ?96,473
1 ?34.?18
For Ihc yLar Lnded i l Dccemher 2022. IhL C.onipany ivas clltitlcd io cxemption from audit under 5477 of the
Companies Acl ?006 rclating tn small L(?Tnpanie%.
Thc meTMbcr8 hav¢ noi rcquirL'd thc C.ompan)' to obtain an audit iii aLC()rdanLL Wlth sLcti()n 470 i)fihe Conipanii's ALI
2000.
'I'he directors aLkn()Ivledgc thcir responsibililies lor COTnplyiiig M'iih the requirement5 of the Compa]iie5 Act with
respecr to aceounlinbj recnrds and ihc PfLP<Jfdrion of accoiuits.
These account.s ha￿e bccn prepared in dcLor(fdnce M'ith the PTtJi'isinn% applicable to small cninpanic% Subjcct to thc
small cotnpanies rcgimc.
Signcd o
aifol'<ill the iTUStees
ame..
?023
8ignLd by dirL¢ior. auiheiiticatillg aLcounls bginbT sent tu Compiinies House
r%ame'.
Datc..
2*_ 1 z£ 2023

St Michael's Southfields
Statement of financial activities
'or the year ended 31 Decembcr 2022
Total
2022
'rolal
2021
restricted Restricted
Nole
Incomt
Donati0118 and legacies
Othcr t12ding activities
2a
2b
62,OOU
28,356
62,000
28,356
188.500
2.5.5?5
TotJl income
90,3.56
90,356
214,02.5
Resour¢e5 Used
Chariiable activities
Interest Pdyable
Mltiiageinenl and <idministrdtion
DepreLldtion
3a
3c
3b
3d
{10,876) 110,876)
(7.263)
(5.8971
(9.488)
(.3,OilJ
{12,5571 (12,-f $7)
(.1,051) 1-),051)
Total resource5 used
128.101) (28,101)
(?5,6991
et incibming resourlts befvre net gAins OD
inve51ment
62,255
()?,2<5
I SX,-126
NLI gains on iHve5tnienis
Yet iniiJm¢ for the year
62.2_55
188,J26

St Michael's Southfields
Cashflow Statement
For the year ended 31 Decembcr 2022
2022
2021
c.ash frorn operatin2 activities
Net Ldsll proi'idcd Eis, (Iised in) npcrating acriviiies
65,821
165,$41
Cash fluws from in￿eStIng aetivitics
BuildinbT WOTks
(5.430)
Cash flibMS from financing actii'i¢ie$
Rcpajmcnt of advanccd
Bank interesl p(Jid
(59.325) (165,208)
11,617)
(i.897}
Change in cash in the vtar
4.879
110,9951
Cash at l January
Cash at.I l Dccen)ber
26,903
37,958
26.963
lote
R£eoncili2tion nf net movement in funds to net cash flow
from Operating 2tti%"itics
Nei nJovcTncnt in fvnds
62.2$5
188,326
Adjustmtnt5 for:
Bank Inlercst paid
Decrca8e/lincrcase} in debtnr.%
(Decrca8el increase in crcditor%
t)epreciatinn
1.617
1.763
12,865)
3.051
5.897
(6,808)
(24.925}
3.0.51
65,821
165,-541

St Michael's Southfields
Notes to the finaniial statements
ror the year ended 31 December 2022
Basis of preparation
These a¢Lounts have been prepared under the Iiisloricdl LUSt LUllVClltiun with items tecogni5ed &il L051 ur Iriinsactinn
value unles5 0(herwise stated in the relevant not¥(s1 tu thesc 3CCilUllts.
The aLiounls hdl'e been prep£ired in accordance K4'iih ihe Sidtetnenl ufR¢LVmTnend¢d PrdLtiLg." ALLounling and
Rgporting by Charities pr¥p(triiibJ thesr dccounts in accnrdancc M'iih the Finaiicial Reporting standard applicablc in the
LIK and Republic of Ireldnd IFRS 10?) I%SUid nn 16 July 2014 and with ih¢ Chariiies Aci 2011
I'he chari(￿ Longtiluies d public benefit eniily as defined bj FRS I O?
The accounts preseni a itue and fair view and no Changes have been made tn thc accounting wlicic% di5¢1osed below.
Coing concern
Having ctjnsidered ihg furecast actii'iry. for the 12 month period from thc dalc of the approval of thcEc financial
-%talcmcnts, the directors havc prcpared thc financial stareinents on the b<lSiS Dl'Boing conLern.
A¢¢ouniin2 polieits
Incomc.. Rccnb41ition of inc()me-. InLvtne is included in the Statemei)t of I'inancial ALtivities I'SObA'I ￿h¢n the
charirv be¢oTnes entitled tn tlie resourLg5. il is nioTe likelv Iliaii not that ilie trustees K¥'ill receii'e the resources dnd Ihe
m(Jnelary i'aliie can be estitnaitd willi sullici¢nl reliability.
ffsettirh%: I'here has been no offsettirig ol'dSS¢tS dnd liabilities, ur ijicotne and expeiises_ unless iequiiEd or
pemiittcd b!. the l.'IIS 102 SORP or l.-RS I O?
(zrants and dvnatlOns= Grniits aiid don41lions 41re ollly inLluded in the SOFA when the general incoine recugjnilion
criicria are met.
-I'ax rerlairns on doiiations: Gift Aid receivable is inLluded iii incoine when there is a walid declaralion froTn the
donor. Anv tiilt Aid aniL)Wlt re¢ov¢r¢d on d doiiatiuii is considered to be part (Trf tliat gift and 18 treated as an addi12un
to the sanie (und ds the initial donat￿On unless ilie dunoi ur the tcnns of Ilic appeal have 8pccified tjiherwise.
Int¥r¢st income.. This is iiiLluded in ihe aLLounts when rcceipt Is probable aiid ihe arnuunl reLeivabl¢ Llln be
Tlleasui¢d reliablv.
Liabilit) recognition: Liabililie5 arc rccognised where li is more likel) than not that thcrc is Icgal (Jr cnn%tructive
obligldi lion comniitting ihe Lhanty to pay out resources and the amoiinl of the obli(Tation can be mcasurcd v'ith
reasondble ccrtainly.
InterLSt Pavghle: This is illLludcd in the accounts M,hen PayTnent is probable aiid thc aTnount pa}'able can be
m￿SUred rcliahly.
Tgngible fixed assets- land 2nd buildings.. Upon completinn of tlie coiistruction of the asset, Ihe cost of the land
and buildintss (excluding thc social Inve5thicnt- sc£ bclowl M'as transferyed out of asstls undei LonsiruLtiLTrll. I'he Idnd
and buildings arc held al valuation Ic$% proi'ision for ali). iitipaimeiil.
'rangible fixed assets- fixture$ fitliNkys= Llpon coniplelinn ofthe cojistruction of the assel, the cost or rixlijrg
and fitting8, was transterrcd nut of assets iindeT CO115t￿CtIO11. fixtures and fittings are held at IVSt, Tiel vl'd¢pr¥Lldtion
and provision for any impaimient. l)epreciatioii is provided io w'riie off Ilie cost, less tslinialed rg5idudl N'dlue, on a
straight line basi.s oi'er its ekyecied usef-ul cconoTnic life. I'he useful econoniiL life hd5 beeTi deletniined ds I O years.
Fixed a%sets- social investment.. %ocial inv¢slnieiits include progr￿li￿e related ijivestmeiits ￿.hICh are hrld
specifi¢alli' io cnable tlTrird partic£ to undertake particular aclivilies using the assei that coiitribute to tlie Chdritable
objectivcs of St Michael's: SoLiilTrfield5. Ilwn cnmpletioii ol-the LviistliJLlion ut-llie a55Ct, thc c05t vl-tlic Socldl
iiivestment ivas transf¢rred out tsl'a%5eis undcr cnn.%ltU¢lion. Tli¥ sucial iiiN'esinieiii: being the apartments Inade
dvdildble for church workcr% at %ub.sidised rcnt: arc hcld at valualion le55 provision for any iinpairmenl.

St Michael's Southfields
Notes to the financial statemiints
For thc year ended 31 Dcceinber 2022
Deblor5.' Debtors (invluding trade debtor% alld103n% rcccil'able) arc mea£urcd on initial rccognitinn at sittlement
aniuunl after aiiy Irade discounts or dmount advanced the charit}'. Subsequently, they are measurcd at the cash or
other consideration expecied tu bc rcccii'ed.
Incorn¢
Unrestricted Restrie*ed
Funds
Fund%
Total funds
2021
2a Donalions and le£#¢ies
Donation froni the PCC of St MiLhacl's with
Si Stephen s Church I￿,.a1]d914,orth)
Donation$ 2nd legacies InoTr Gifi Aid)
Donitinn% (Cjift Aid)
Tax reciTrveiiible on dnnation.
C.AF & GAYE dundtion5
37,0fl0
20,000
5,000
126,1100
20,ODO
-5,000
i.%.000
2n,ooo
62,000
62.000
1 &8..fj00
2b Trading acti￿ltIeS
Reiithl Inc0￿e- 41partrnent5
Rcntal income- hdll
23,779
4,577
23,779
4,577
24,000
?8,356
28,356
Total incoming rcsuurce
90,356
90,356
214,1125

.St Michkiel'5 Southficlds
'otes to the financial %tatements
For the yL'ar ended 31 December 2022
Resourles used
Ilnrestricted Restricted
un¢Js
Funds
Total funds
2022
2021
3a. Charitahle activities
IltiliÈies and insurance
10,876
10,876
7.263
10,876
10.876
3b. Mana%enitnt and administration
Re-charged staff cosis
Bank chargc8
Accounlancv fLes and sundry expun￿,5
12,000
87
470
12.000
87
470
9.000
102
12,i57
12..557
9,4S8
3¢. lJ041tI Iiitere5t paid
1,617
1.617
-5.897
3d. Depreciativ
i,051
3.051
3,0<1
Tiit#l resourrcs used
28.101
2.j,69C)
-rhe enlity hdd iio employces in the period.

St Michael's Southficld5
Notes to thc financial statements
For tlie year ended 31 December 2022
Tangible a8￿tI
Land Fixlures
buildings
'rolal
CDstlv2lu2tian
At l January 2Q122
Additians
Rcvaluation
645,OOU
40.680
685.680
Ai 31 1kccrnbeT 2022
645,000
40,680
685.680
Depreci#tiu
At l Janudrl. ?021
Chargwe
(6,102}
(6,10?)
At 31 De¢emb¢r 2U22
(9.153)
(9,1531
riel bovk vulue
At 3 1 1)¥L¢Inber 2021
645,000
34.578
679.578
At 31 December 2022
645,000
676,527
Land lind buildings coniprised building LOSts of £648,240 plus capitalised buildiM(T fees (including architecr's and
5urveyors' fees of £55.491 and lindnce fcc8 nf £l1,-536.) li W<lS aLTeed Ihdl the £9.300 rctcntion fcc payablc ta the
contraclor ￿'0￿[d not be paid as ihe works wcrc not completed. An <ill¢rndtive contrdCtI)r ￿.￿5 appointcd aiid i%'nrks
will be carried oui in 2023.
The laiid £tnd buildinbTS are held at the trusi¢¢s' dsse55meiit of open niarket value llsing input from local valuaiion
experts.
Fixed assets- $ocial Inv¢$tM¢￿t
'rotal
Costlvaluation
At l Jdnuarw 2022
Revaluation
600.IIQO
At 31 De¢emlK'r 2022
600,OfJO
Bank accounts
The C.onipanv has one currciii accounr with CAF Bank. As ￿ndS wcrc cxpcctcd tn he utilised wiihin a short SP(ILe of
lime anl given rhe loii intcrc5t raies in the financial i'eaF, It was iiot dccnicd iicccssary, lo scl lip a dcpa%it a¢counl

St Michael's Southfields
Notes to the financial statcments
For the year ended 31 December 2022
Debtors
2022
2021
Tax refinds duc
Othei dgbior.%
5,000
45
1,250
5,558
At 31 De£ember 2U22
5,04)
6.808
C.rcditor¥: amounts fallinx due ￿lhI￿ nne year
2Q22
2021
B41nk loans
Tenants deposits
Other crcditors
2.OOU
1.5UO
840
943
2,000
3.204
At 31 DeCtffl￿r 2022
6.147

St Michael's Southfields
Notes to the financial statements
For the }'ear endLd 31 Deceinber 2022
Creditors.. falltng ¢Jue after one year
2022
Bdnk loan
12,602
72,984
"l-he Companv signed a Iodn a¥Yreenieiit for a £4_f O,OOD mvrtbdbye with KingTdnrn Ballk which hecame effective in
2018. There was iio furrher drdwdown of the mortgagg in ?01? {?021.. £nill and £.i9..3?S repaid l?021.. £165.209).
Previous year s drdwduwns under ihe niortgTage ILwk pldLL iii accnrdancc with work complcted as ccrrificd bj a
surve)'or appoitit¢d by Kiny7dDni Bank. The tem of the mnrtgagc i% )0 )'ears, from first dnwdown, with monthly
repavinents of priIiLipal and interest. The interest rdte is i.<OO/o above the Rank of Engl<ind bdse rale for Ihe first 5
vear%, after wliiLh it reverts to the b(Ink-s Sidnddrd Vdriablc raic unless renegoliaied. S¢Lurily uf the Iudll is by way ora
first niortgage over BTaihway Hall d% well d5 <in unLondiltnnal payment guarantcc froTn thc PC,C foi the full amnunr
outstdnding.
10.
Rcstricted funds
Cun51ruLtion and
vperatiijn vf Brxth￿aV
11211 fund
pening balancc
1.234,?18
Income
Expenses
Revaluation nf invc5mients
90.ii6
1?8,1011
Ai 31 December 2022
1,296,473
'I'he Restricted F'und ab(>ve Lan only be used in cunneciiun M'iih the cL)n8trnction ofRraihwdy H<ill, b¥inbT d
communil). hall with ti¥0 apdrlmeiits abui'e the hdll. SuLlI Losts include, in addilion lo lh¢ dLtUdl Lonstructinn LO8t%,
all fcc5 associated with the pielimiiiari ivurks dnd pennissioiis as well as all cosls dSSULl<iled with procuriiig fTnance
for the building.
ii.
Related party transactions
The PCL, which is a trustee of Si Michacl'% Snuthfields, is the guardntor of the £4.50,000 morrgage prts￿lded to Si
Micha¢l's Suuihlields bi Kingidotn Bank. As at .31 December ?022, £14.60? remains outstanding on the mongage.
In addition. 51dff costs of £1 ? 00012021..£9.000) Mer¢ rtLh<irbyed to St Michael's Souihfields by Ihc I'C(- in respect of
eiiiplovees pivvidiJiLT ser¥'i¢eb to Ihis entilv.