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← St Peter's Bethnal Green

2024-12-31-accounts

St Peter’s Bethnal Green Annual Report 2024

1. Reference and Administrative Details

i. Charity name: St Peter’s Bethnal Green Parochial Church Council (PCC)

ii. Principal Address: St Peter’s Bethnal Green, St Peter’s Close, London E2 7AE Registered charity number: 1154668

iii. St Peter’s Bethnal Green uses the banking services of Reliance Bank Ltd at Faith House, 23-24 Lovat Lane, London, EC3R 8EB.

iv. Stewardship of 1 Lamb’s Passage, London EC1Y 8AB were re-appointed to carry out the independent examination of accounts for 2024.

2. Structure and Governance

Responsibilities of the PCC

The PCC of St Peter’s Bethnal Green has the responsibility, together with the Priest-in-Charge, the Rev’d Philippa Cook, to promote in the parish the whole mission of the Church, with a focus to worship God, make friends and change the world.

This is achieved through working alongside a number of organisations as partners in undertaking mercy, justice and evangelism. It is responsible for the maintenance and buildings of St Peter’s Bethnal Green.

As a Church of England parish church, the PCC and Vicar follow the requirements of Church of England Canon Law.

With regard to the PCC’s obligations to safeguard children and vulnerable adults, the members of the PCC confirm that they have complied with their duties under section 5 of the Safeguarding and Clergy Discipline Measure 2016.

Objectives and activities

The 2024 electoral roll had 83 registered members at the APCM. Those on the Electoral Roll are able to nominate candidates for the PCC. The PCC and Church Wardens are elected annually to the ACPM.

The PCC organises itself to carry out its aims and objectives by having regular meetings and various sub-committees. The PCC held 10 formal meetings over the course of the year.

The PCC’s Finance Team prepares information for explanation and decision making for the PCC and takes forward management matters with the Vicar. Dayto-day management of the church is delegated to the Vicar, Rev’d Philippa Cook and her staff team.

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The trustees confirm they have had due regard to the Charity Commission’s guidance on public benefit when reviewing aims and planning activities detailed in the rest of the report.

Members of the PCC

Members of the PCC are elected on an annual basis at the Annual Parochial Church Meeting (APCM) in accordance with the Church Representation Rules.

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- Part 1 Annual Report

Leadership

2024 saw a change in the leadership of St Peter’s Bethnal Green.

In January, we said a sad but fond farewell to the Rev Heather Atkinson. Heather has led St Peter’s faithfully since 2018. We have many things to be thankful to Heather for, including leading us through the asbestos decontamination project during 2023.

This meant we were in vacancy for around 8 months of the year. We’d like to thank Ali and Luke for holding us all through that and making the vacancy a smooth experience as it could have been. During this time we launched a survey of the congregation to build a vision of what we were looking for in our next incumbent and from this the PCC and Clergy created the Parish Profile.

In October we welcomed the Rev Philippa Cook as our new Priest-in-Charge.

Thank you St Peter’s for the warm welcome as I begin my ministry here as Priest-inCharge. I look forward to working and worshipping alongside you as we seek to see the Kingdom of God come in Bethnal Green together.

In November, our longstanding Operations Director, David Bishop, moved on from his role on the St Peter’s staff. David has done a phenomenal job for a number of years. He was key to the success of our period in the marquee during the asbestos decontamination project of 2023. We wish him success in his new role.

Throughout the week

Regular worship and activities continued throughout 2024. Alongside Sunday services, these included:

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We are especially grateful to all volunteers and members of the congregation who faithfully contributed to the life of the church during the year.

Young Life

Children and young people remained central to the life of the church, with regular Sunday activities in rooms one and two. Having brilliantly led Young Life in a volunteer capacity for two years, Anne Bishop stepped back in the summer, with Luke and Ali taking on this role. There remained a desire to appoint a part-time paid Young Life Pastor, and at the end of 2024 Abi Genn was recruited to begin in January 2025.

Safeguarding

The safeguarding of both children and vulnerable adults remained a priority throughout the year with John Loveday continuing to serve as Safeguarding Officer. Safer recruitment and safeguarding training were administered by Rachel Finegan as part of her Teams Administrator role.

Alpha

A handful of newcomers took part in a ten-week Alpha course between January and March, including a Holy Spirit Saturday and culminating in some joining regularly on Sundays.

Easter

Holy Week was well-attended and rich in worship styles. We journeyed through the events of Holy Week, beginning with our Outdoor Palm Sunday procession. We shared a Maundy Thursday meal and vigil followed the next day by Good Friday art and soul making and art stations, ending with a liturgical hour of Eucharist, liturgy and veneration of the Cross. Easter Sunday vegan with a dawn vigil, and concluded with a joyous all-together service of celebration.

Spear

Members of St Peter’s supported the Spear project throughout the year. Once again there were inspirational presentations by the Spear trainees reflecting all the hard work and commitment of the Spear coaches. 82% of the young people who completed the programme were in work or education 1 year later, and 72 young people in total completed the Spear programme. 5 young people also went on to join Alpha.

Art + Soul

In June we had our first Art and Soul Summer exhibition showing the work of the A+S group, alongside works from our church family. The show ran from Wednesday to Sunday, with a well-attended and uplifting opening night. It attracted many from our local community, building on existing connections and

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introducing new ones. It also built confidence and enthusiasm in our exhibiting artists.

HFF-funded visit to Ely

The Friday group and Art+Soul visited Ely Cathedral with the support of the Henry Fawcett Fund. As well as seeing the incredible cathedral, we were able to visit a number of exhibitions and museums nearby. Despite being somewhat of a whistle stop tour, there were times of contemplation, and we ended the day with peaceful evening prayers in the cathedral.

Collaboration with Arts for All

Art + Soul continued to collaborate with Arts for All. This took place by sharing a number of joint sessions together throughout the year. These meet-ups were a wonderful way for both groups to continue to connect with each other in both personal and creative ways.

The Beehive Exhibition

In November, Art + Soul had the opportunity to exhibit a selection of their work in the Beehives One Wall Gallery. They exhibited for around 3 months and received a lot of positive feedback on their work. We had an open evening in March to close the show. It was a well-attending and uplifting community event and a great opportunity to continue building our relationship with our neighbours, Bethnal Green Mission Church.

Summer events

A group of us went along to Focus, our church annual weekend away with the Holy Trinity Brompton network under canvas at the Newark Showground. It was great to join with the Tower Hamlets churches to camp together this year - getting to experience community and fellowship with one another was a genuine blessing.

Asbestos removal

The asbestos removal project ended in December 2023, so 2024 represented a year of rebuilding following significant upheaval in the previous year. Being back in the church building has been wonderful.

Kido Nursery

Kido opened its doors to paying clients for the first time in 2024. Rental income from the hall supports the mission and ministry of St Peter’s.

Remembrance

The traditional service of remembrance was held on Ion Square, with the piano rolled out, a choir and an opportunity to remember through prayer, silence and the laying of wreaths. The service was well attended by church members and representatives from local communities.

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Advent and Christmas

A wonderful series of services was planned and advertised on banners, through the website and delivering flyers round as much of the parish as possible.

We kicked off the season with Campfire carols in the church gardens, where we were pleased to welcome over 200 people from across the community for hot dogs, mulled wine and carol singing around the fire.

Our Christingle service was well attended and enjoyed by all, with packs for making christingles generously put together by the Friday morning coffee group.

Following the extremely busy Wednesday evening Columbia Road Carols in 2023, it was decided to not hold the event at all in Christmas 2024. Safety concerns and other considerations remain the number one priority for any activity the church and local community is involved in.

Carols by Candlelight welcomed many from across the community, with well over 200 in attendance in the church building- every chair and pew was sat on with many standing at the back!

Midnight Communion on Christmas Eve was very busy with local people, and Christmas morning was full of joy.

The Christmas season was full of wonderful opportunities to welcome and get to know our neighbours.

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- ’ Part 2 Treasurer s Report

2024 Overview

Finance at St Peter’s is typically overseen by the Finance Working Group, a subcommittee of the PCC, made up of the Vicar, a Churchwarden and at least one other member, supported by the Operations Director and the Treasurer. This team meets regularly and makes recommendations on finance matters to the PCC. Due to vacancy, the Churchwardens and the Operations Director ran this sub-committee.

Income

The ministries and activities of St Peter’s Bethnal Green were largely funded by three groups of income: -

Giving Income in 2024 (funding from the congregation members and friends of St Peter’s in the form of standing orders, one-off gifts, regular collections and related gift aid) amounted to £76,218 (down from £82k in 2023).

Property Income in 2024 (the letting and renting of church premises) also accounted for a significant proportion of the church’s income, at £109,000 (in 2023, £110k). This came from Kido (£100,000) and £9,000 from renting out the crypt to Parabolic Theatre for the first half of 2024. This was slightly less than expected in the budget due to lower irregular property rental (as Parabolic vacated the crypt in June).

Grant Income in 2024 totalled £50,632 (in 2023, £323k). These included grants from Veolia for the building, as well as the Church Revitalisation Trust and the Henry Fawcett Fund to support lay staffing, Curate costs and Associate Vicar costs.

Other income amounted to £222,087 in 2023, £116k), with £6,528 coming from room hire, weddings and funerals, and £215,559 paid to us in insurance payments. This includes sums due to the PCC for claims in 2024 which were received after the year end.

Overall, St Peter’s received £457,937 in 2024, down from £674,107 in 2023, mostly attributable to the difference in grants claimed for building work, as well as a decrease in total giving.

Expenditure

All expenditure aimed to support our mission as a church.

Over the course of the year:-

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Ministry expenses (including clergy, staff, retreat and event expenses) were £117,791. A significant portion of this was funded through specific grants.

Gift expenditure amounted to £58,432 for our Diocesan Common Fund contribution, up from £53k in 2023 and £30k in 2022.

Property related expenditure including church maintenance and insurance totalled £68,121, up from £52,246 in 2023. This year there were no major property repairs carried out (in 2023, we spent £430,659 on major repairs).

Overall, St Peter’s spent £252,172 in 2024, down from £632,187 in 2023.

Closing position

The PCC’s net assets increased to £1,290,303 (2023: £1,084,539), including fixed assets such as the Mission Hall.

Policy on reserves

The PCC has determined that the charity should aim to hold free reserves (which the trustees define as being unrestricted net current assets less creditors falling due after one year) of no less than £58k i.e. 3 months of budgeted operational expenditure.

Reserves are continually reviewed by the Finance Working Group and the 2024 budget aims to keep the level of reserves as close to the policy as possible, whilst trying to increase Common Fund contributions, as well as necessarily increasing ministry costs.

At the year end the PCC held free reserves of £317,451 in compliance with its reserves policy.

Risk assessment and mitigation

The financial risks which the church faces are considered regularly by the Finance Working Group. Measures are proposed by the Finance Working Group and implemented by the PCC or staff team to ensure that appropriate financial systems, policies and procedures are in place to manage and mitigate financial risks. As an organisation with a relatively low level of reserves, we manage financial risk with strong financial systems and controls. As a matter of general policy, independent professional advice is taken where appropriate.

Investment and cash flow policy

As mentioned above, St Peter’s has relatively low reserves and hence it rarely has excess funds to invest. Most of the cash is held by the charity in a bank current account so that it is readily accessible, less the rent deposit for our Mission Hall tenant, which is held in a separate, with notice, deposit account.

Grant making policy

The PCC carefully evaluates grant applications before any grants are awarded.

Health and safety and Employment Law Policy

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In 2024 the church employed staff, and the premises are in regular use by various groups and members of our congregation, which include children and vulnerable adults. Employment law, health and safety, and safeguarding measures are adhered to, and assistance in these matters is sought from the Diocese of London and independent professional advisors.

Sustainability policy

St Peter’s encourages the adoption of sustainable practice in all areas of church life and work, as a means to contribute to the reduction in carbon emissions in dealing with the growing evidence of climate change. We have undertaken energy audits, recycling programmes and we encourage the use of public transport, cycling and walking by our staff and clergy. We are also committed to the national church’s Net Zero Carbon mission.

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2025 plans

The 2025 budget requires the expenditure on activities and ministries of St Peter’s should be wholly covered by the cash received. The budget will be reviewed regularly by the Finance Working Group.

2025 Income

The PCC’s regular income budget sought to increase the amount of regular givers once more, with a target of £54,290 in regular giving and £17,167 in one-off giving (in 2024, £43,000 and £16,900, respectively).

Property income was forecast to total £112,000 between the crypt and the regular hall rent paid by Kido Nursery.

The budget for grant income was set at £65,052. This is in expectation of securing some targeted grants to assist with both staffing costs as well as building repair.

2025 Expenditure

We plan to increase our away giving for the second year in a row by increasing our Common Fund contribution to 75%. The Common Fund is the name given to the contribution made by each parish in the Diocese to support the costs of clergy, clergy accommodation, clergy in training as well as other Diocesan functions such as safeguarding. In years past, our CF contribution was significantly below the level set for each parish by the Diocese, but our ability to now meet this is a testament to the hard work and commitment of the staff, clergy and entire parish community of St Peter’s.

Staffing will be as follows: Priest In Charge, Associate Priest, Curate, Operations Director, Teams Administrator, Children’s Pastor, Verger, Worship Pastor, Groundsperson.

Staffing costs were expected to dip slightly due to the departure of our Operations Director David Bishop in November 2024, our only full-time member of staff. We have now filled this vacancy with the appointment of Stephanie Ewing in April 2025.

Church restoration

Depending on the success of capital fundraising, urgent capital repairs are being carried out to the tower stonework, the organ and levelling the garden paths. Contractors were hired for the removal of the church’s organ in May 2025 for 12 weeks as the first phase of this programme of work.

An assessment made by the Diocesan parish property advisor in January 2020 advised that the church building will require between £750k and £1m spending on the fabric in the next 10 years before redeveloping any internal space; this must be held in mind during future financial planning.

The last quinquennial report was completed in 2019 and St Peter’s is due a new inspection in 2025. The diocese has agreed to a full condition report given the

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building’s challenges over the past five years, but this has been delayed due to the ongoing asbestos works in the church, which they requested were completed before proceeding with the quinquennial report. The organ project is on track to finish in mid-August 2025.

The PCC responsibilities in relation to the financial statements The PCC is responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards.

Charity law requires the PCC to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charity as at the balance sheet date and of its incoming resources and application of resources for the financial year. In preparing for these financial statements, the PCC are required to:

The PCC is responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011 and the Charity (Accounts and Reports) Regulations 2008. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approval

This report was approved by the PCC and signed on their behalf by:

Andrew Rixon Jul 28, 2025
Andrew Rixon (Jul 28, 2025 12:50:31 GMT+1)
Andrew Rixon, Church Warden Date
J.Martin (Jul 28, 2025 12:54:16 GMT+1)
J.Martin		 Jul 28, 2025
Jessica Martin, Church Warden Date
PSFCook Jul 28, 2025
PSFCook (Jul 28, 2025 13:04:43 GMT+1)
Philippa Cook, Priest-in-Charge Date

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INDEPENDENT EXAMINER'S REPORT

TO THE MEMBERS OF THE PAROCHIAL CHURCH COUNCIL OF

ST PETER WITH ST THOMAS BETHNAL GREEN ('the Charity')

I report to the members of the PCC (who are also the charity's trustees) on my examination of the accounts of the Charity for the year ended 31 December 2024 on pages 13 to 22 following, which have been prepared on the basis of the accounting policies set out on pages 15 and 16.

Responsibilities and basis of report

As members of the PCC you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the Charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants of Scotland, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Charity as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

~~Archie McDowall~~

Archie McDowall (Jul 30, 2025 14:34:24 GMT+1)

Archie McDowall BA CA Institute of Chartered Accountants of Scotland Stewardship 1 Lamb's Passage London EC1Y 8AB

Jul 30, 2025

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ST PETER WITH ST THOMAS BETHNAL GREEN

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2024

Note
INCOME AND ENDOWMENTS FROM:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Other income: proceeds of insurance claim
Total income and endowments
EXPENDITURE ON:
Charitable activities
6
Raising funds
7
Total expenditure
Net income/(expenditure)
Transfers between funds
15
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
15		 Unrestricted
Funds
£
69,164
6,528
109,000
215,559
400,250
187,847
6,088
193,934
206,316
-
206,316
111,135
317,451		 Restricted
Funds
£
57,686
-
-
-
57,686
58,237
-
58,237
(551)
-
(551)
973,403
972,852		 Total
Funds
2024
£
126,850
6,528
109,000
215,559
457,937
246,084
6,088
252,172
205,765
-
205,765
1,084,538
1,290,303		 Total
Funds
2023
£
405,689
8,255
111,639
148,525
674,107
621,830
10,357
632,187
41,920
-
41,920
1,042,618
1,084,538

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing operations.

The notes on pages 15 to 22 form part of these accounts.

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ST PETER WITH ST THOMAS BETHNAL GREEN

BALANCE SHEET

AS AT 31 DECEMBER 2024

Note
FIXED ASSETS
Tangible assets
9
CURRENT ASSETS
Debtors
10
Cash at bank and in hand
11
CREDITORS: Amounts falling
due within one year
12
Net current assets / (liabilities)
Total assets less current liabilities
CREDITORS: Amounts falling due
13
after more than one year
TOTAL NET ASSETS
FUND BALANCES
Unrestricted Funds
Restricted Funds
15		 Unrestricted
Funds
£
5,044
5,044
209,136
149,300
358,436
(45,195)
313,240
318,285
(833)
317,451
317,451
-
317,451		 Restricted
Funds
£
970,000
970,000
-
2,853
2,853
-
2,853
972,853
-
972,853
-
972,853
972,853		 Total
Funds
2024
£
975,044
975,044
209,136
152,153
361,289
(45,195)
316,094
1,291,138
(833)
1,290,305
317,451
972,853
1,290,305		 Total
Funds
2023
£
971,894
971,894
87,493
148,532
236,024
(113,380)
122,645
1,094,538
(10,000)
1,084,538
111,135
973,404
1,084,538

The financial statements were approved by the members of the PCC and were signed on its behalf by:

Andrew Rixon

Jul 28, 2025

Andrew Rixon (Jul 28, 2025 12:50:31 GMT+1) ----------------------------------------------------------------------------Andrew Rixon - trustee Date Charity number: 1154668

The notes on pages 15 to 22 form part of these accounts.

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ST PETER WITH ST THOMAS BETHNAL GREEN

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1 Statutory Information

The Parochial Church Council of St Peter with St Thomas, Bethnal Green is a charity registered with the Charity Commission in England & Wales. The charity's registered number and principal address can be found on the Charity Information page.

2 Accounting Policies

These financial statements are prepared on a going concern basis, under the historical cost convention. The financial statements include all activities for which the PCC is legally responsible; the activities of informal gatherings of church members and groups that owe their main affiliation to another body and are excluded.

These financial statements have been prepared in accordance with The Church Accounting Regulations 2006, the 'Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)' ("the Charities SORP"), with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland ("FRS 102") and with the Charities Act 2011. The charity meets the definition of a public benefit entity as set out in FRS 102.

The Charities (Accounts and Reports) Regulations 2008 (the '2008 Regulations') requires charities to prepare their accounts in accordance with 'Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005' but this accounting standard has since been withdrawn and has been replaced by the Charities SORP mentioned in the preceding paragraph. The charity has prepared these financial statements in accordance with the new Charities SORP; this departure from the 2008 Regulations is believed to be necessary for these financial statements to give a 'true and fair view'.

The principles adopted in the preparation of the financial statements are set out below.

a) Going concern

The PCC have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The PCC have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the PCC have considered the charity's forecasts and projections and the possible implications should projected income and / or expenditure vary unexpectedly. The PCC have concluded that there is a reasonable expectation that the charity has adequate resources to continue to operate for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial t t t

b) Income

Income (which includes planned giving, collections and other donations) is recognised in the period in which the charity becomes entitled to receipt, the amount receivable can be measured with reasonable certainty, and receipt is probable. For the most part income is generally recognised when it is received by, or on behalf of, the PCC. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period. Income from donations and legacies includes recoverable gift aid, which is recognised when the related donation is received. Gift aid that has not been recovered by the balance sheet date is included as a debtor.

The charity relies on volunteers to carry out many of its activities. However, in accordance with the SORP, the value of these services has not been included in these financial statements as they cannot be reliably measured.

Income from charitable activities represents income receivable from goods, services and facilities supplied in furtherance of the charity's charitable objects. It includes income from weddings and funerals, from church events and courses and for letting facilities to the local community.

Income from other trading activities represents income receivable from activities undertaken to generate funds for the charity and comprises income receiveable from letting property.

Other income comprises income receivable from insurance claims and comprises claims approved by insurance companies by the year end. Any unpaid claims that have been approved by the year end are recognised as debtors in the accounts.

The charity has taken the view that it has only one charitable activity, namely the advancement of the Christian faith, and all income from donations, legacies and charitable activities is in respect of this one activity.

c) Expenditure Expenditure, including irrecoverable VAT, is recognised when it is incurred or, if earlier, when a legal or constructive obligation for a payment arises provided that it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Contributions in respect of the diocesan parish quota are included in the Statement of Financial Activities for all amounts agreed to being payable for the financial year. Any contributions that have not been paid over by the year end are included as a creditor.

The charity makes grants to other institutions and individuals to further its charitable objectives. Grants payable are recognised as constructive obligations arise, which is generally when the charity expresses a commitment to the recipient that can be measured reliably and then only to the extent that any conditions associated with the grant are outside of the control of the charity.

Expenditure on raising funds comprises expenditure incurred in respect of the charity's property letting income and time spent by staff on generating grant income.

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ST PETER WITH ST THOMAS BETHNAL GREEN

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024

c) Expenditure continued

Governance costs, which are included in expenditure on charitable activities but are identified separately in the notes to the accounts, includes costs associated with the independent examination of the financial statements, compliance with constitutional and statutory requirements and any other expenditure incurred on the strategic management of the charity.

The Charities SORP requires charities with income over £500,000 to allocate costs to the various activities undertaken by the charity. The nature of the work of the church is considered to be so integrated that the core charitable activity costs are considered to be for the one activity.

d) Fund accounting

e) Tangible fixed assets

Movable church furnishings held by the incumbent and Churchwardens on special trust for the PCC and which require a faculty for disposal are capitalised in accordance with the policy set out below. These items are regarded as inalienable property and are listed in the church's inventory which can be inspected at any reasonable time. Inalienable property acquired prior to 2010 has not been capitalised as there is insufficient cost information available.

Items purchased or donated for the charity's own use are capitalised when the cost of purchased items, or the fair value of donated items, is more than £500 and the item is expected to benefit the charity over more than one accounting period. Depreciation is charged on a straight line basis so as to write down the value of each asset to its estimated residual value (if any) over its expected useful economic life. To achieve this objective the following rates of depreciation are charged:

Freehold land Is not depreciated (because it is not consumed by use) Freehold buildings Over 50 years after taking account of the building's residual value Equipment Over 3 to 7 years

The trustees used an insurance valuation to help estimate the market value of the charity's freehold property on 1 January 2014 (being the date of transition to FRS102) and, as permitted by FRS102, its estimated market value on that date has been treated as being the property's deemed cost. The members of the PCC consider the residual value of the freehold building to be very high and believe that any provision for depreciation would not be material; consequently no depreciation has been charged in these accounts

The carrying values of tangible fixed assets are reviewed for impairment in periods when events or changes in circumstances indicate that the carrying value may not be recoverable.

f) Leased assets

Leases which do not transfer substantially all the risks and rewards of ownership to the charity are classified as operating leases. Operating lease payments are recognised as an expense on a straight-line basis over the lease term (unless another systematic basis is more representative of use).

g) Pension scheme arrangements

The charity operates defined contribution pension schemes for its employees. Obligations for contributions to these schemes are recognised as an expense when the liability arises. The assets of these schemes are held separately from those of the charity in independently administered funds.

h) Taxation

The charity has taken advantage of the various reliefs from taxation available to charities and no tax is payable on the charity's income.

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ST PETER WITH ST THOMAS BETHNAL GREEN

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024

3 Donations and legacies

Regular giving
Ad hoc giving
Church collections
Gift aid recoverable
Government grants
Listed Places of Worship Scheme
Other grants:
from Henry Fawcett Fund
from Diocese
from others
4
Income from charitable activities
Fees for weddings, funerals etc
Retreats and events
Letting facilities for community benefit
5
Income from other trading activities
Church hall lettings
Crypt lettings
6
Charitable expenditure
Ministry expenses
Diocesan parish quota - common fund
Diocesan service fees
Clergy accommmodation and contribution to clergy stipend
Staff costs
Ministry expenses
Retreats and events
Church running costs
Property expenses including cleaning and minor repairs
Insurance
Office expenses
Governance costs
Independent examiner's fee for preparing and examining the accounts
Depreciation
Major property repairs
Church building: repairs to nave ceiling and asbestos removal
Crypt: emergency lighting and fire alarm
Grants payable (note 6b)		 2024
£
42,393
16,318
4,016
13,491
76,218
-
20,418
-
30,214
50,632
126,850
2024
£
1,778
1,010
3,740
6,528
2024
£
100,000
9,000
109,000
2024
£
58,432
679
47,914
40,546
26,003
2,649
176,223
50,476
4,822
8,544
3,030
1,249
68,121
-
-
-
1,740
246,084		 2023
£
57,750
9,613
3,213
12,043
82,619
49,831
19,520
174,476
79,243
323,070
405,689
2023
£
832
5,463
1,960
8,255
2023
£
93,639
18,000
111,639
2023
£
52,665
(264)
27,649
38,452
10,310
9,093
137,905
30,656
10,255
7,141
2,940
1,254
52,246
418,779
11,880
430,659
1,019
621,830

The fee payable to the independent examiner for preparing and examining the accounts was £3,030 (2023: £2,940).

Page 17

ST PETER WITH ST THOMAS BETHNAL GREEN

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024

6b Grants payable

6b
Grants payable
Institutions
£
Grants for the relief of poverty
338
338
Institutions
£
Grants for the relief of poverty
275
275
7
Cost of raising funds
Staff costs
Legal and professional fees
8
Analysis of staff costs, the cost of key management personnel and trustee remuneration		 Individuals
£
1,403
1,403
Individuals
£
744
744
2024
£
4,588
1,500
6,088
2024		 2024
£
1,740
1,740
2023
£
1,019
1,019
2023
£
7,867
2,490
10,357
2023

The average monthly number of employees during the year was 1 (2023: 1). Most of the charity's activities are carried out by volunteers. No staff received salaries at a rate of tmore than £60,000 per annum.

Rev. Philippa Cook, Rev'd Heather Atkinson, Rev'd Alison Mulroy and Rev'd Luke Smith are clergy members of the PCC. They receive a stipend from the Diocese and they are not employed by the PCC. Some of the Parish Quota paid by the PCC is used to help meet the cost of their stipends. In addition the PCC paid:

No member of the PCC received employment benefits in either the current or preceding year.

9 Tangible fixed assets

Cost
At 1 January 2024
Additions
Disposals
At 31 December 2024
Accumulated depreciation
At 1 January 2024
Charge for the year
Eliminated on disposal
At 31 December 2024
Net book value
At 31 December 2024
At 31 December 2023		 Freehold
Property
£
970,000
-
-
970,000
-
-
-
970,000
970,000		 Worship
and Office
Equipment
£
5,882
4,399
-
10,281
3,988
1,249
-
5,237
5,044
1,894		 Total
2024
£
975,882
4,399
-
980,281
3,988
1,249
-
5,237
975,044
971,894

Freehold property comprises the church hall at Warner Place.

Page 18

ST PETER WITH ST THOMAS BETHNAL GREEN

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024

10 Debtors

Gift aid recoverable
Lettings and event income receivable
Prepaid expenditure
Grants receivable
Insurance claims receivable
11
Cash at Bank and in Hand
Cash at bank with immediate access
Notice deposits
Petty cash
12
Creditors: liabilities falling due within one year
Due to contractors in respect of repairs to nave ceiling
Other creditors
Accrued expenses
Tenant deposit
Loan from Diocese
13
Creditors: amounts falling due after more than one year
Loan from Diocese		 2024
£
2,088
-
13,989
-
193,059
209,136
2024
£
126,079
26,044
30
152,153
2024
£
-
6,121
3,030
26,044
10,000
45,195
2024
£
833
833		 2023
£
4,243
-
11,620
27,779
43,851
87,493
2023
£
117,937
30,565
30
148,532
2023
£
72,429
1,387
3,998
25,566
10,000
113,380
2023
£
10,000
10,000

During the prior year the PCC received a loan of £20,000 from the Diocese to help meet the cost of repairs to the nave ceiling. The loan is interest free and is repayable by 24 monthly instalments, which commenced in January 2024.

14 Pension commitments

During the year employer’s pension contributions totalling £1,674 (2023: £1,580) were payable to defined contribution personal pension schemes. No contributions were owed at the balance sheet date (2023: £0 was owed).

15 Restricted funds

During the year the movements in the charity's funds were as follows:

Church Hall fund
Organ fund
Staff fund
Clergy fund
Event fund
Repair fund
Vicar's Discretionary fund
Youth fund		 Opening
balance
2024
£
970,000
549
-
655
-
-
1,256
944
973,404		 Incoming
resources
2024
£
-
-
7,898
35,222
-
8,000
6,567
-
57,686		 Outgoing
resources
2024
£
-
-
(7,898)
(35,222)
-
(8,000)
(6,567)
(551)
(58,237)		 Transfers
in the year
2024
£
-
-
-
-
-
-
-
-
-		 Closing
balance
2024
£
970,000
549
-
655
-
-
1,256
393
972,853

Page 19

ST PETER WITH ST THOMAS BETHNAL GREEN

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024

15 Restricted funds continued

Analysis of net assets by fund

The assets and liabilities of the various funds were as follows:

Tangible fixed assets
Debtors
Cash at bank and in hand
Creditors falling due within one year
Creditors falling due after one year		 Unrestricted
funds
£
5,044
209,136
149,300
(45,195)
(833)
317,451		 Restricted
funds
£
970,000
-
2,853
-
-
972,853		 2024
£
975,044
209,136
152,153
(45,195)
(833)
1,290,305

In the previous year the movements in the charity's funds were as follows:

Church Hall fund
Organ fund
Staff fund
Clergy fund
Event fund
Repair fund
Vicar's Discretionary fund
Youth fund		 Opening
balance
2023
£
970,000
1,629
-
-
-
-
-
638
972,267		 Incoming
resources
2023
£
-
-
7,284
21,667
1,764
290,355
2,000
600
323,670		 Outgoing
resources
2023
£
-
(1,080)
(7,284)
(21,012)
(1,764)
(417,699)
(744)
(295)
(449,878)		 Transfers
in the year
2023
£
-
-
-
-
-
127,344
-
-
127,344		 Closing
balance
2023
£
970,000
549
-
655
-
(0)
1,256
944
973,404

Analysis of net assets by fund

In the previous year, the assets and liabilities of the various funds were as follows:

ysis of net assets by fund
e previous year, the assets and liabilities of the various funds were as follows:
Tangible fixed assets
Debtors
Cash at bank and in hand
Creditors falling due within one year
Creditors falling due after one year		 Unrestricted
funds
£
1,894
87,493
145,128
(113,380)
(10,000)
111,135		 Restricted
funds
£
970,000
-
3,404
-
973,404		 2023
£
971,894
87,493
148,532
(113,380)
(10,000)
1,084,538

Information about the charity's restricted funds:

The Church Hall fund is in respect of the church hall at Warner Place. The custodian trustee is the London Diocesan Fund and the PCC cannot sell the property without the consent of the London Diocesan Fund.

The Organ fund was created from grants and donations received for the church organ.

The Staff fund was created from grants received to help meet the cost of employing staff.

The Clergy fund was created from grants received to help meet the cost of providing accommodation to clergy and the cost of making contributions to the Diocese in respect of the stipend they receive from the Diocese.

The Event fund was created from grants received to help fund the provision of ministry events.

The Energy support fund was created by a grant received from the Diocese to help the charity with energy cots.

The Repair fund was created from grants received to help meet the cost of repairs to the church building.

The Vicar's Discretionary fund was created from grants received for discretionary use by the Vicar.

The Youth fund was created by donations received to help meet the cost of the PCC's work with children and young people.

Page 20

ST PETER WITH ST THOMAS BETHNAL GREEN

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024

16 Operating lease income

The charity has granted a lease to a nursery provider that gives them exclusive use of the church hall at Warner Place. The minimum amounts receivable (until the next break clause and ignoring the potential effect of future rent reviews and any unforeseen events that could result in early termination) in respect of this lease is as follows:

unforeseen events that could result in early termination) in respect of this lease is as follows:
Within one year
Between one and five years
After five years
Income falling due:		 2024
£
100,000
400,000
141,667
641,667		 2023
£
100,000
400,000
141,667
641,667
lease is as follows:
Within one year
Between one and five years
Payments falling due:		 2024
£
23,820
35,730
59,550		 2023
£
23,820
35,730
59,550

During the year the charity was charged £23,820 (2023: £23,820) for its operating lease.

18 Other relevant financial information

The PCC pursued insurance claims for the replacement of contents that were contaminated by asbestos and had to be destroyed and for the decontamination from asbestos of the church organ. Subsequent to the year end the PCC's insurers made payments totalling £193,059. This income has been recognised as a debtor in these accounts and the proceeds from the insurance claims will be used to replace contents and decontaminate the organ.

During 2023 the PCC was awarded a grant of £45,000 by Tower Hamlets Council for projects that would reduce the charity's carbon footprint. The charity is currently attempting to secure further funding to undertake these project and it hoped that the PCC will be in a position to be able to claim the grant before the end of 2025.

19 Transactions with related parties

During the year the PCC received grants totalling £21,380.50 (2023: £19,520) from the Henry Fawcett Fund, a registered charity established for the relief of poverty in the parish. The vicar and the PCC’s two church wardens serve as trustees of the Henry Fawcett Fund and the Henry Fawcett Fund is regarded as being a related party.

Except for the reimbursement of expenses incurred when acting as agent for the charity, or incurred when undertaking duties associated with serving as clergy, no expenses were paid to (or for) members of the PCC.

Page 21

ST PETER WITH ST THOMAS BETHNAL GREEN

DETAILED STATEMENT OF FINANCIAL ACTIVITIES WITH COMPARATIVES

FOR THE YEAR ENDED 31 DECEMBER 2024

Note
INCOME AND ENDOWMENTS FROM:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Other income
Total income and endowments
EXPENDITURE ON:
Charitable activities:
6
Raising funds
7
Total Expenditure
Net income/(expenditure)
Transfers between funds
15
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
15		 Unrestricted
Funds
2024
£
69,164
6,528
109,000
215,559
400,250
187,847
6,088
193,934
206,316
-
206,316
111,135
317,451		 Restricted
Funds
2024
£
57,686
-
-
-
57,686
58,237
-
58,237
(551)
-
(551)
973,403
972,852		 Total
2024
£
126,850
6,528
109,000
215,559
457,937
246,084
6,088
252,172
205,765
-
205,765
1,084,538
1,290,303		 Unrestricted
Funds
2023
£
82,019
8,255
111,639
148,525
350,438
171,952
10,357
182,310
168,128
(127,344)
40,784
70,351
111,135		 Restricted
Funds
2023
£
323,670
-
-
-
323,670
449,878
-
449,878
(126,208)
127,344
1,136
972,267
973,403		 Total
2023
£
405,689
8,255
111,639
148,525
674,107
621,830
10,357
632,187
41,920
-
41,920
1,042,618
1,084,539

Page 22

St Peter's Bethnal Green - 2024 accounts, FINAL FOR SIGNING

Final Audit Report

2025-07-30

Created: 2025-07-28 By: Lawrence Renn (lawrence.renn@stewardship.org.uk) Status: Signed Transaction ID: CBJCHBCAABAAetsqnajI-J1Xyi8an70KFdNq8xZoDSFh

"St Peter's Bethnal Green - 2024 accounts, FINAL FOR SIGNIN G" History

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