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2022-12-31-accounts

Charity registration number 1159099

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MATTHEW, BAYSWATER

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MATTHEW, BAYSWATER

LEGAL AND ADMINISTRATIVE INFORMATION

Charity number 1159099 Principal address c/o 27 St Petersburgh Place London W2 4LA Website www.stmatthewsbayswater.org.uk Trustees Ex Officio: Mr Rev William Coleridge Mr James Kite (appointed 24 April 2022) Mrs Linda Dennis Elected members Mr Michael Jeans (Acting Treasurer) Mrs Rita Thorpe (Deanery Synod Representative - resigned 24 April 2022) Ms Florence Ajao Ms Robyn Pender Ms Pauline Hudson-Evans Mr James Skillen (Deanery Synod Representative - appointed 24 April 2022) Miss Mary Yale (Resigned at Treasurer – 24 April 2022) Mrs Elizabeth Henderson Ms Beora Carvalho (Appointed 10 October 2022) Mrs Joanna Grant-Peterkin (Resigned 24 April 2022) Independent examiner James Foskett FCA DChA Cansdales Business Advisers Limited St Mary’S Court The Broadway Old Amersham Bucks HP7 0UT Bankers National Westminster Bank Plc 46 Notting Hill Gate London W11 3HZ

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MATTHEW, BAYSWATER

CONTENTS

Page
Trustees' report 1 - 6
Independent examiner's report 7
Statement of financial activities 8
Balance sheet 9
Statement of cash flows 10
Notes to the financial statements 11 - 21

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MATTHEW, BAYSWATER

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2022

The Trustees present their annual report and financial statements for the year ended 31 December 2022.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Aims and Purposes

St Matthew’s Parochial Church Council (the PCC) has the responsibility of cooperating with the incumbent, Rev William Coleridge, in promoting in the ecclesiastical parish, the whole mission of the Church, pastoral, evangelistic, social and ecumenical.

Objectives and Activities

The PCC is committed to enabling as many people as possible to worship at our Church and to become part of our life together in Bayswater. The PCC maintains an overview of worship throughout the parish and makes suggestions on how our service can involve the many groups that live within our parish. Our services and worship put faith into practice through prayer and Scripture, music and sacrament.

When planning our activities for the year we hope to enable ordinary people to live out their faith as part of our parish Church. In particular, we offer the following:-

To facilitate this work, it is important that we maintain the fabric of the Church of St Matthew’s.

Achievements and performance

Worship and Prayer

It has been a good year, building on the strength that was emerging at the end of 2021. We have seen the majority of the regular congregation return to the fold with an increasing return to normality, and hence freedom, in our worship.

Our weekly Bible study, ‘Bible Hour’ has continued to attract between 10 and 15 regular participants and it has also been good to have some of these regular members lead our studies. It has also been good to develop this regular core of people who have grown in their love and understanding of each other and the scriptures.

We have continued with one morning service at 10.30am, alternating our Communion liturgy between the Book of Common Prayer and Common Worship. We have also incorporated a roughly termly healing service, which has been very well received with many coming forwards to receive prayers and anointing for healing.

Services have continued to increase in number so that we are now regularly attracting 50-60 worshippers on Sunday mornings. Alongside this, the pattern of absences at the weekends has returned, which means that our worshipping community is now in the region of 120 people. In May, June and July, after ten years as our Vicar, Rev William Coleridge took a sabbatical which meant that our services were taken by visiting clergy. Whilst we certainly missed our Vicar, we enjoyed the variety of visitors.

In October we held a Ten-Year Anniversary service to thank Rev William Coleridge and his wife, Liz, for their dedicated service amongst us, to thank Mary Yale for her extraordinary service as our treasurer for over 60 years, and to thank God for his faithfulness throughout. It was a very happy occasion and we were delighted to welcome Rev Charles Marnham who took the service.

There were 70 (2021 68) names on the Electoral Roll at the Annual Parochial Church Meeting on Sunday 24 April 2022, many of whom were not resident in the parish. There are certainly more people who worshipped throughout the month than we are able to get onto the Roll. The average weekly Sunday attendance counted during October 2022 was 65 adults and 10 children and young people (2021 54 Adults, 10 children and young people)

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MATTHEW, BAYSWATER

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

Deanery Synod

Rita Thorpe stepped down as our Synod representative having service in this capacity since April 2017. We thank her for her time with us. James Skillen agreed to take over this role and we look forward to his representation on our behalf.

Pastoral Care

This is offered primarily by our Vicar, Rev William Coleridge, who meets with a wide variety of individuals for different purposes (marriage preparation, baptismal discussions, ad hoc pastoral issues, bible study, prayer etc). There is also the pastoral care offered Sunday by Sunday after our services.

We continue to rejoice in the variety of the people whom the Lord brings to St Matthew’s. Whilst wonderful, this also presents diverse challenges to Rev William Coleridge and we are hoping to take on a Curate in 2023 to help share the growing pastoral load. The Diocese are willing to support us here, with discussions and planning ongoing

Mission and Evangelism

We are finding greater visitors attending after the Covid lull. Our Christmas services attracted a healthy congregation at both our Lessons and Carols and on Christmas Eve and Christmas Day. Our Christmas Day service, in particular, has grown significantly, now attracting around 120 adults with over 25 children.

We continue to host 12 step recovery groups: two Alcoholics Anonymous groups, two SLAA groups (Sex and Love Addicts Anonymous) an ACA group (for those with alcoholic parents) and Narcotics Anonymous which have met throughout the year. Debtors Anonymous have decided not to return. All remain grateful for use of the space having found Zoom meetings very deficient from those held in person.

We remain committed to helping these groups further and are hoping to do so in the future. All comment on how excellent they find the let spaces and it is fair to say that these groups act like churches within our Church.

In April 2019 the Eritrean Gospel Church started to worship in the Church on Sunday afternoons. They struggled throughout Covid, not least because their services are heavily dependent on singing. We have felt it right as a PCC to offer them a substantial discount on the rent we would otherwise charge them. They are simply not able to raise more money and we are not willing to terminate their services in the building. We continue to keep this situation under review. They are deeply appreciative.

In December 2020, having sought non-perishable food from members of both the community and the congregation via a flyer we produced, we opened a St Matthews food bank. This continues to run extremely well. We have seen that the harsh economic realities first from Covid and then from the ‘cost of living crisis’ make such a Food Bank an increasing necessity in our local area.

2022 has seen further progress with the organisation of the foodbank. Wonderfully, from September this year, a Wetherby parent has taken over the ordering and sorting of food in the pantry area. This has been such a help! We have also received two significant grants; from a local business man (£3,000) and from the Julia and Hans Rausing Trust (£13,350 which will be paid across in 2023). We are humbled by these grants.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MATTHEW, BAYSWATER

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

We remain immensely grateful to Elizabeth Coleridge and John Henderson for organising the foodbank to the volunteers (an increasing number from various parts of the local and St Matthew’s community) who ‘staff’ it on Wednesday afternoons. We are also grateful for the many smaller donations from a wide variety of people and organisations.

Ecumenical Relationships

We are on good terms with the local Synagogue, though we have not found it easy to do more than be good and friendly neighbours.

Our links with St Sophia’s Greek Orthodox cathedral are growing stronger, not least as a result of our Vicar’s good friendship with Fr Nephon Tsimalis. They invite us to their larger occasions and we were pleased to have a member of their church read a lesson at our Christmas Lessons and Carols Service. We rang our bells for their Easter morning. We were also delighted to receive a grant from them for $5,000USD which will be paid in early 2023.

We continue to maintain a good relationship with St Stephen’s Westbourne Park, joining together for smaller services, and one member of the PCC serves as head of Governors for St Stephen’s School.

Human Resources

Since October 2017 St Matthew’s has employed John Henderson on a part time basis as its Parish Community Worker. The main part of John’s role remains making connection points with the local community, which we hope will encourage them into the Church on a Sunday in due course. It was agreed at our November 2021 PCC meeting to increase John’s hours from 15 hours a week to 18 hours with effect from 1 January 2022. This is to allow John to take over running our stonework project, although he has struggled to do this given his significant investment in getting financial aspects at St Matthew’s ship shape. John has also started the Cornhill Training course, (a theology and Bible training course) which he will do until July 2023. John also works as a freelance musician and plays the organ at St Matthew’s from time to time when our regular organist is unavailable.

Since November 2022 we have employed Stacy McNamara as our Bookkeeper / Administrator for 5 hours a week. We were pleased to have a number of applicants for the role and delighted to interview and appoint Stacy who has begun really well.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MATTHEW, BAYSWATER

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

Financial review

One of the most significant developments of the past year was the retirement of Mary Yale as our treasurer. Mary has served with unstinting energy and commitment for over 60 years. Needless to say, her stepping down was met with sadness after such an extraordinary time in the role. We thanked Mary at the anniversary service in October and we do so again here. We are humbled by her.

The result of Mary’s retirement has caused significant adjustment in the functioning of financial aspects at St Matthew’s and it took us far longer than usual to prepare our 2021 accounts, which were filed late. However, with Stacy McNamara appointed to take over all Mary’s day to day activities we are starting to get on top of all the work and we are very pleased for her appointment. She has started very well indeed.

The financial results for 2022 reflect the various continuing restrictions and ongoing changes that began in 2022.

Total receipts on unrestricted funds were £127,975 (2021: £123,363) of which £35,870 (2021: £31,641) was unrestricted planned voluntary Gift Aided donations and £8,273 (2021: £9,226) from Gift Aid on those donations.

The total voluntary income for 2022 was £79,592 of which £47,159 was for Unrestricted Funds £12,681 for Endowment Funds and £19,752 for Restricted Funds. This compares with £71,602 for 2021, £68,052 for Unrestricted Funds, Nil for Endowment Funds and £3,550 for Restricted Funds

Church Activities include the licencing and letting of parts of the Church, totalling £77,153 in 2022 (2021: £51,742), of which £26,093 (2021: £23,500) came from the licencing of the Choir Vestry to Maria Montessori Training (Montessori) for a nursery school.

The Eritrean Gospel Church was affected by the same constraints as the main Church and in 2022 we only received £600 (2021 £1,010).

Children’s activities, including the Sunday crèche where possible, have been funded in the past by a very generous donation which was increased during 2019. In 2022 the opening balance was £879 and Incomes £3,000 so there is a balance of £3,879 at 31 December 2022.

Our main expenditure from unrestricted funds was £132,657 (2021: £125,507) to provide the Christian Ministry from St Matthew’s Church. Of this £72,500 (2021: £72,500) was our contribution to the Common Fund to provide stipends and employment costs for the clergy and a contribution towards Diocesan costs and the costs of the wider Church.

The amount which our Church pays to the Common Fund is decided by the PCC. The amount for 2022 remains at £72,500 but it should be mentioned that St Matthew’s was asked to give more. We declined to, citing our frustration at the support services being offered by sections of the Diocesan support staff. We hope that our gentle protest will give rise to real change

Other major expenditure includes insurance £12,975 (2021: £11,591), and light, heat and water £9,131 (2021: £10,047). Whilst our heating costs have remained at their 2021 levels due to the use of the back of the Church in evenings by the 12 Step Groups, we nonetheless remain deeply grateful for our 5 year fixed gas and electricity contracts which have shielded us from the significant price rises seen during the year. The contracts are due to expire on 1 January 2024 when we anticipate paying double or even treble the unit prices we are currently fixed at. Part of our mitigation of these rise has been to move the 12 Step Groups into the Choir Vestry, which has been completed for all but one AA group who are charged more to use the church.

We take much joy in praising God through music. We much appreciate our Director of Music and organist, Max Pappenheim, and our choir of paid student singers, who are augmented by unpaid volunteers. This year has seen a partial return of the choir. Our usual high standard of music is not cheap, but the costs were increase during 2022 to £10,327 (2021: £3,903).

We continued to employ our part time Parish Community worker. In 2022 he was paid £13,555 (2021: £10,343).

There was a Surplus on Unrestricted Funds during the year of £8,001( Surplus in 2021: £10,992).

There was a Restricted Fund for repairs to the Church of £12,890 at the beginning of the year and £11,690 at 31 December 2022.

We have enjoyed the option to use our new Payaz contactless giving machine that allows individuals to visit the terminal unaided. The costs of the unit and the data allowance have been kindly paid for by a member of the congregation. This is proving a popular way to give

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MATTHEW, BAYSWATER

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

Reserves Policy

It is particularly difficult to plan for the timing of repairs and improvements expenditure on our magnificent Grade II* listed building. This is partly due to difficulty of implementation. We therefore need to take advantage of opportunities when they arise. Our Quinquennial Surveyor, Andrew Burrell, submitted his first quinquennial report in 2016 and urgent work, like clearing rubbish, was completed. The preliminary reports on the Stonework Project were received towards the end of 2020.

The balance on our General Unrestricted Fund at 31 December 2022 was £87,736 and total restricted was £56,741. Total expenditure was £141,997. This means that total unrestricted is 7 months of expenditure.

Risk Management

Our procedures for managing the risks from fraud and theft are constantly under review. We check our Bank Statements carefully every month.

Within the Church building, we have paid particular attention to risks of fire and terrorism and escape routes. The easy work has been done but this work is ongoing as it is particularly difficult to achieve modern recommendations in an old building like our Church.

Volunteers

One of the continuing marks of St Matthew’s is that we do not maintain a church office. This is not always ideal, but it gives the great opportunity for the many volunteers who keep the Church functioning so well. We remain extremely grateful for the time contributed by so many. Special mention should be made of Ms Pam Kinson who continues to order our key supplies and clean the brass and other items from time to time.

Andrew Pilkington also contributes a great deal to the upkeep of our building. We are also grateful for all the readers and sidesmen who have been so well organised by Ms Joanna Grant Peterkin until the first lockdown, Subsequently arrangements have been made by the Vicar.

Elizabeth Coleridge provides invaluable organisation of various activities, foodbank especially, though she has been pleased to hand over a significant amount of this to Stacy McNamara.

Structure, governance and management

The Parochial Church Council (the PCC) is a corporate body established by the Church of England . The PCC operates under the Parochial Church Council Measure. The PCC is a registered charity.

The method of appointment of PCC members is set out in the Church Representation Rules. At St Matthew’s the membership of the PCC consists of the clergy, Churchwardens, Deanery Synod representatives and up to nine other people elected by those members of the congregation who are on the Electoral Roll of the Church. All those who are eligible, who attend our services, are encouraged to register on the Electoral Roll and stand for election to the PCC. We are constantly looking for new PCC members.

After 7 years of service Mike Jeans stepped down as our Church Warden at our APCM. We expressed our deep thanks to him for his service - Mike has offered support and encouragement to all. At the same time, we welcomed, James Kite into the role. James will serve alongside Linda Dennis. Both are committed and hardworking members of the PCC offering excellent support to the Church and Vicar, especially during the Vicar’s sabbatical. Betty Kasozi-Batende continues to serve as our Chief Sidesman and organiser at the back of the Church and we are most grateful to her for all her hard work. Betty is ably assisted by Florence Ajao.

The PCC members are responsible for making decisions on all matters of general concern and importance to the parish, including deciding how funds of the PCC are to be spent. The Diocese provides training for new PCC members.

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MATTHEW, BAYSWATER

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MATTHEW, BAYSWATER

I report to the Trustees on my examination of the financial statements of The Parochial Church Council of The Ecclesiastical Parish of St Matthew, Bayswater (the Charity) for the year ended 31 December 2022.

Responsibilities and basis of report

As the Trustees of the Charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

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 that in any material respect:

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 financial statements to be reached.

Use of my report

This report is made solely to the Board, in accordance with section 145 of the Charities Act 2011. My independent examination has been undertaken so that I might state to the Board those matters I am required to state to them in an Independent Examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Board, for my independent examination or for this report.

James Foskett FCA DChA

Cansdales Business Advisers Limited

St Mary’s Court The Broadway Old Amersham Bucks HP7 0UT

Dated: .30 May 2023

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MATTHEW, BAYSWATER

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2022

Unrestricted
Endowment
Restricted
funds
funds
funds
2022
2022
2022
Notes
£
£
£
Income from:
Donations and legacies
2
47,162
12,681
19,752
Charitable activities
3
79,673
-
-
Investments
4
1,142
-
309
Total income
127,977
12,681
20,061
Expenditure on:
Charitable activities
5
132,657
-
9,341
Total expenditure
132,657
-
9,341
Net gains/(losses) on investments
9
-
(57,909)
-
Net (outgoing)/incoming resources before transfers
(4,680)
(45,228)
10,720
Gross transfers between funds
12,681
(12,681)
-
Net income for the year/
Net movement in funds
8,001
(57,909)
10,720
Fund balances at 1 January 2022
79,735
501,597
46,021
Fund balances at 31 December 2022
87,736
443,688
56,741		 Total
Unrestricted
Endowment
Restricted
funds
funds
funds
2022
2021
2021
2021
£
£
£
£
79,595
68,052
-
3,550
79,673
55,300
-
-
1,451
11
13,136
13
160,719
123,363
13,136
3,563
141,998
125,507
-
6,800
141,998
125,507
-
6,800
(57,909)
-
62,644
-
(39,188)
(2,144)
75,780
(3,237)
-
13,136
(13,136)
-
(39,188)
10,992
62,644
(3,237)
627,353
68,743
438,953
49,258
588,165
79,735
501,597
46,021		 Total
2021
£
71,602
55,300
13,160
140,062
132,307
132,307
62,644
70,399
-
70,399
556,954
627,353

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

All income and expenditure derive from continuing activities.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MArrHEW, BAYSWATER BALANCE SHEEr ASAT31 DECEMBER 2022 10 SJl,597 11 7.713 123,7¥2 Cash atb￿￿)I inknj 90.971 150.517 470) 131,4 15,709) 144,47T 125.756 seB.165 5&741 le,￿21 1,597 79, ErdtyMnwlfvnd$ Unr05trwX•J funds 87.736 5B6,185 R8¥ WILkn Cd¥d3•

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MATTHEW, BAYSWATER

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 DECEMBER 2022

Notes
Cash flows from operating activities
Cash (absorbed by)/generated from operations
18
Investing activities
Investment income received
Net cash generated from investing activities
Net cash used in financing activities
Net (decrease)/increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2022
£
1,451		 £
(34,232)
1,451
-
(32,781)
123,752
90,971

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MATTHEW, BAYSWATER

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

1 Accounting policies

Charity information

Parochial Church Council Of St Matthew, Bayswater is a charity incorporated in England and Wales. The registered office can be found on the legal and administrative page.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The Charity is a Public Benefit Entity as defined by FRS 102.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.￿The principal accounting policies adopted are set out below.

1.2 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity.

1.3 Income

Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

1.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MATTHEW, BAYSWATER

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

1 Accounting policies

(Continued)

1.5 Fixed asset investments

Consecrated and Benefce Property

In so far as consecrated and benefce property of any kind is excluded from the statutory defnition of "charity" by Section10(2)(a) and (c) of the Charities Act 2011 such assets are not capitalised in the fnancial statements.

Moveable Church Furnishings

These are capitalised at cost and depreciated over their useful economic life other than where insufcient cost information available. In this case, and where the individual item does not cost more than £1,000, the item is not capitalised, but items are included in the Church's inventory in any case.

Investments

Investments quoted on a recognised stock exchange or whose value derives from them are valued at market value year end.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MATTHEW, BAYSWATER

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

2 Donations and legacies

Unrestricted
Endowment
Restricted
funds
funds
funds
designated
2022
2022
2022
£
£
£
Gift Aid donations
35,870
-
6,376
Tax recoverable
8,274
-
1,860
Other
-
-
-
Donations, appeals etc
3,018
12,681
11,516
47,162
12,681
19,752		 Total
Unrestricted
Restricted
funds
funds
2022
2021
2021
£
£
£
42,246
31,641
2,840
10,134
9,226
710
-
7,318
-
27,215
19,867
-
79,595
68,052
3,550		 Total
2021
£
34,481
9,936
7,318
19,867
71,602

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MATTHEW, BAYSWATER

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

3 Charitable activities

Income from
Church
Activities
Other Income
2022
2022
£
£
Letting Vestry and Church
77,153
-
Lego Club
969
-
Fees
1,551
-
Furlough receipts
-
-
79,673
-		 Total
2022
Income from
Church
Activities
Other Income
2021
2021
£
£
£
77,153
51,742
-
969
80
-
1,551
998
-
-
-
2,480
79,673
52,820
2,480		 Total
2021
£
51,742
80
998
2,480
55,300

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MATTHEW, BAYSWATER

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

4 Investments

Unrestricted
Restricted
funds
funds
2022
2022
£
£
Dividends
978
-
Bank Interest
164
309
1,142
309		 Total
Unrestricted
Endowment
Restricted
funds
funds
funds
2022
2021
2021
2021
£
£
£
£
978
-
13,136
-
473
11
-
13
1,451
11
13,136
13		 Total
2021
£
13,136
24
13,160

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MATTHEW, BAYSWATER

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

5 Charitable activities

Staff costs
Ministry Common Fund
Other ministry costs
Wages of Parish Community Worker
Church - running and maintenance Heat, light and water
Insurance
Cleaning
Other running expenses
Church Maintenance
Organist and Choir
Zoom subscription
Lego Club
Stonework Project
Church Major Building Expenditure
Children
Concerts and Café
Printing and Stationery
Missionary and Charitable Giving: Foodbank
Share of support costs (see note 6)
Share of governance costs (see note 6)
Analysis by fund
Unrestricted funds
Restricted funds
Support & Gevernance costs
Support costs
Governance
costs
£
£
Accountancy & IE Fees
-
3,155
Bank Charges
161
-
161
3,155		 Charitable
Expenditure
Charitable
Expenditure
2022
2021
£
£
3,400
-
72,500
72,500
337
563
13,555
10,343
9,131
10,047
12,975
11,591
2,498
2,115
662
8,706
3,676
3,439
10,327
3,903
158
-
154
-
-
4,576
1,200
-
2,423
1,100
591
286
642
-
4,453
-
138,682
129,169
161
135
3,155
3,003
141,998
132,307
132,657
125,507
9,341
6,800
141,998
132,307
2022 Support costs
Governance
costs
2021
£
£
£
£
3,155
-
3,003
3,003
161
135
-
135
3,316
135
3,003
3,138		 Charitable
Expenditure
Charitable
Expenditure
2022
2021
£
£
3,400
-
72,500
72,500
337
563
13,555
10,343
9,131
10,047
12,975
11,591
2,498
2,115
662
8,706
3,676
3,439
10,327
3,903
158
-
154
-
-
4,576
1,200
-
2,423
1,100
591
286
642
-
4,453
-
138,682
129,169
161
135
3,155
3,003
141,998
132,307
132,657
125,507
9,341
6,800
141,998
132,307
2022 Support costs
Governance
costs
2021
£
£
£
£
3,155
-
3,003
3,003
161
135
-
135
3,316
135
3,003
3,138
135
3,003
132,307
125,507
6,800
132,307
2021
£
3,003
135
3,138

6 Support & Gevernance costs

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MATTHEW, BAYSWATER

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

7 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year.

8 Employees

Wages and salaries
Other pension costs		 13,383
172
13,555		 10,343
-
10,343

There were no employees whose annual remuneration was more than £60,000.

9 Net gains/(losses) on investments

Endowment Endowment
funds funds
2022 2021
£ £
Revaluation of investments (57,909) 62,644
10 Fixed asset investments
Endowment Central
Board of Finance
Shares
£
Cost or valuation
At 1 January 2022 501,597
Unrealised Loss (57,909)
At 31 December 2022 443,688
Carrying amount
At 31 December 2022 443,688
At 31 December 2021 501,597

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MATTHEW, BAYSWATER

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

11
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Income tax recoverable
12
Creditors: amounts falling due within one year
Other creditors
Accruals and deferred income		 2022
£
38,995
4,248
16,733
59,976
2022
£
33
6,437
6,470		 2021
£
-
1,113
6,600
7,713
2021
£
1,037
4,672
5,709

13 Capital Commitments

There were no capital commitments during the year (2021 - Nil)

14 Endowment funds

Movement in Movement in
funds funds
Balance at Incoming Balance at Incoming Balance at
1 January resources 1 January resources
31 December 2022
2021 2022
£ £ £ £ £
Emma Rothwell 412,295 58,981 471,276 (55,477) 415,799
Lady Harland 10,489 1,500 11,989 (1,411) 10,578
Lynch Legacy 16,169 2,163 18,332 (1,021) 17,311
438,953 62,644 501,597 (57,909) 443,688

The endowment funds represent the Emma Rothwell Legacy , the Lynch Legacy and the Lady Harland Bequest for the endowment of the living and the Church. The church can only use the income from the Emma Rothwell Legacy and cannot spend the capital.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MATTHEW, BAYSWATER

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

15 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement in funds Movement in funds Movement in funds Movement in funds
Balance at Incoming Resources Balance at Incoming Resources Balance at
1 January resources expended 1 January resources expended 31 December
2021 2022 2022
£ £ £ £ £ £ £
Vicars Discretionary 808 - - 808 3,000 (35) 3,773
Centenary Fund 23,517 13 - 23,530 309 - 23,839
Choir Fund 1,821 - (838) 983 - (983) -
Flower Fund 3,866 - - 3,866 - - 3,866
Stonework Project 816 3,550 (4,576) (210) - 210 -
Children 1,979 - (1,100) 879 3,120 (2,423) 1,576
Building Repairs 12,890 - - 12,890 - (1,200) 11,690
Funeral & Music donation - - - - 492 (492) -
Food bank donations - - - - 11,280 (4,418) 6,862
Other Appeals 429 - (286) 143 - - 143
Gift Aid from restricted funds 1,594 - - 1,594 1,860 - 3,454
Kneeler fund 1,538 - - 1,538 - - 1,538
49,258 3,563 (6,800) 46,021 20,061 9,341 56,741

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MATTHEW, BAYSWATER

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

15 Restricted funds

(Continued)

Vicars Discretionary: The Vicar’s Discretionary Fund is used by the Vicar to meet the needs of those who are in particular distress, particularly those who appear at the Vicarage door from time to time. Centenary Fund: The Centenary Fund was launched in 1982 to form a capital fund to provide resources for pastoral assistance.

Choir Fund: The Choir Fund was established to pay for singers who support our Sunday Services.

Flower Fund: The Flower Fund was established to provide flowers for Church Services and other events.

Stonework Project: The Stonework Project Fund represents donations towards the costs of the Stonework Project to repair and conserve the exterior stonework. Children: Children represents the amount given towards the Sunday creche and other childrens activities.

Building Repairs: The Restricted Buildings Repairs Fund represents a legacy received in November 2016 specified to be for repairs to the church.

Other Appeals: Incoming Resources represent donations for specific purposes eg London Diocesan Lent Appeal, Royal British Legion, which were or will be paid to the charities (Special Appeals),Community Café where amounts were expended during the year (costs). Cost also included the deficit on Ekklesia during the year.

Kneelers fund– ; Parishioners make donations towards the upkeep/purchase of new kneelers for the church, which is ongoing.

Music Donation – from time to time, in recognition of the excellent standards of music at St Matthew’s, members of the congregation and others provide donations towards our paid choir and organist, which is placed in this fund.

Food Bank Donations – St Matthew’s runs a busy foodbank. To facilitate the purchase of food, members of the community, other charities and members of the church congregation give towards this important work.

16 Analysis of net assets between funds

Unrestricted
funds
Restricted
funds
Endowment
funds
2022
2022
2022
£
£
£
Fund balances at 31 December 2022 are represented by:
Investments
-
-
443,688
Current assets/(liabilities)
87,736
56,741
-
87,736
56,741
443,688		 Total
Unrestricted
funds
Restricted
funds
Endowment
funds
2022
2021
2021
2021
£
£
£
£
443,688
-
-
501,597
144,477
79,735
46,021
-
588,165
79,735
46,021
501,597		 Total
2021
£
501,597
125,756
627,353

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MATTHEW, BAYSWATER

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

17 Related party transactions

Travelling expenses of £141 (2021: £467) telephone costs of £393 (2021: 360) and conference costs of £225 (2021: £0) were reimbursed to Rev W Coleridge. Conference costs of £225 ( 2021 £0) were paid to Mrs E Coleridge.

Apart from the above, no other payments or expenses were paid to any other members of the PCC, persons closely connected to them or related parties.

Recorded donations from related parties (PCC members) included £16,695 (2021: £15,300) to Unrestricted Funds and £0 (2021: £0) to Restricted Funds.

18 Cash generated from operations
Cash generated from operations 2022
£
(Deficit)/surpus for the year (39,188)
Adjustments for:
Investment income recognised in statement of financial activities (1,451)
Fair value gains and losses on investments 57,909
Movements in working capital:
(Increase)/decrease in debtors (52,263)
Increase/(decrease) in creditors 761
Cash (absorbed by)/generated from operations (34,232)