DocvswJn Envelope ID.. AD2CB03B_2B4141054196-62E312906E9A Charity registration number 1159099 (England and Wales) THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MATTHEW, BAYSWATER ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
Docusign Env8lop8 ID= A02CB03B-2B4141054196ffj2E312906E9A THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MATTHEW, BAYSWATER LEGALAND ADMINISTRATIVE INFORMATION Trustees Ex OfflGIo Rev William Coleridge (Vicar) James Kile (Warden) Linda Dennis (Warden) Rev rim Fairhead (Curate) Elecled members Michael Jeans Florence Ajao Robyn Pender Pauline Hu(Json-Evans James Skillen (Deanery Synod Rep) Mary Yale Elizabelh Henderson Beora Carvalho Youngyee Cho David Hughes (Appolnted 28 April 2024) Charlty number (England and Wales) 1159099 Prlnclpal address clo 27 St. Petersburgh Place London W2 4LA Web81te .stMa11héwSbaySWater.0rg.Uk Ind8pèndant examlner BK Plus Audit Llmlled Oaklngham House Frederick Placa High Wycombe Buckinghamshire HP111JU Bankers Nallonal Weslminsler Bank PIC 55 Kensinglon High Streel London W8 SEQ
Docuslgn Envelope ID., AD2C8038-2B41-41054196-62E312906E9A THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MATTHEW, BAYSWATER CONTENTS Page Trustees, report Slalement of Trusl66s' responsibilities Independent examiners report Stslemanl of flnancial acllvllies 9-10 Balance she81 11 Noles lo th8 financi81 slalemenls 12-24
DoGusiqn Envelope ID.. AD2CB03B.2B41-4105-8196-62E312906E9A THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MATTHEW, BAYSWATER TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees present Ihélr annual r8port and financial statemenls for the year ended 31 December 2024. The financlal slalements have been prepared in accordance with the accounting pollclés sel oul in note 1 to th6 financlal stal6m6nls and comply with the Charilrfs governing document, Ihe Charilies Act 2011 and °Accounllng and Reporling by Charltles: Slalement of Recommended Praclice appllcable lo charities preparing their 8ccounls in accordance with th8 Financial Reporting Standard applicable in lh8 UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). Alm3 and Purp058S Sl Matthew's Parochlal Church Councll (Ihe PCC) has the responsibillty of cooperating with the Incumbenl, Rev William Coleridge. in promoting in the ecclesiastical parish the whole mlsslon of the Church, pastoral, evangelistic, social and ecumenical. Objectlves and actlvltles Th8 PCC is commilled lo enabling as many people 8s possible to worshlp at our Church and lo become part of our Ilfe together In Bayswaler. The PCC malntalns an oveNiew of worship throughout the parish and makes suggesllons on how our servl¢es Can Involve Ihe many groups that live wilhin our parish. Our services and worshlp pul fallh Into practlce through prayer and Scriplure, music and sacramenl. When planning our activities for th8 year we hope to enable ordinary peop18 10 live out their falth as part of our parish Church. In particular, we offer the following: . Worshlp and prayer, learnlng about the Gospel; developlng Ihelr know18dge and tNsl In Jesus. Provlslon of pasloral and practical care for people Ilvlng in the area. Missionary and oulreach work. To facilitate Ihis work, it is important Ihat we malntaln the fabric of tha Church of St Mallhews. A¢hlevements and performance Worshlp and Prayer Another solid year at Sl Mallhews. The Lord 1$ adding to our number and deepening our splritua15ty. Llfe in all Ils many forms continues to gather momentum. Our services now lypically allracl 60+ worshlppers on Sunday mornings with our worshlpplng communlly now In tha reglon of 170 p80plé. 11 has been particularly good to welcome a fresh inlake Into our cholr - all sludents at the Guildhall, who hav8 started Iheir1Sme with excitement and engagement. Our weekly Bible study, 'Blble Hour, Is now a firm feature of our congregallon, altracling between 10 and 15 regular participants and it has also been good to have som8 of these regular members lead our sludies. 11 has also been good lo develop Ihls regular core of people who have grown In their lova and underslanding of each other and Ihe ScTlptures. Our trend of increasing numbers of children continues, and there are now 30 regular allendees which usually Iranslales inlo c.20 on any glv8n Sunday. We are ralher 'bursling al the seams. with our spaces for chlldren gellin9 congested on occasions. Our paid creche helpers conlinue lo do a wonderful lob looking after the younger of these children. Also. and Ihankfully, we bul have been able lo find new adulls lo help wilh the Sunday school work. We have also been pleased to welcome our firsl sludenl gift aid on placement. Yashua Sohall, who comes from the London School of Theology. Yashua will help organise our Sunday School and helps out wilh the youth group, St Matl's Youth. This group continues well with 4 regular attendees, which is fine. but We pray for one or two more. There were 75 {2023'. 70) names on Ihe Electoral Roll al the Annual Parochial Church Meeting on Sunday 28 Aprll 2024, many of whom were not resident in th8 parish. There are certainly mora people who worshipped Ihroughoul Ihe month than we are able to gel onlo the Roll. The average weekly Sunday attendance counted during October 2023 was 72 adults and 21 children and young people (2022: 73 Adulls. 16 children and young peop18.)
Docusign Envelop8 ID: AD2C803B-2B41-4105-8196-62E312906E9A THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MATTHEW, BAYSWATER TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Rev TIM Fairhead and his wife Joanna ar6 now a wonderfully embedded part of our common life logelher, rim having joined Sl Matthew's as a Self-supporting Curate in Ihe summer of 2023. 11 has also been excellent lo officially endorse Blanche Mbanda in her training for Licenced Lay Mlnlslry (LLM). Blanche is Increasingly involved in leading and preachlng al Sl Mallhevls and is engaging with the Diocesan LLM programme. All b8ing well. she will be licenced In the autumn of2025. Déanery Synod W8 shared In James Skillen's joy In becoming a father lor the first time in the Spring. howaver given Ihls. he has lound il difficult lo attend in-person Synod meetings. The Synod was pleased to welcome Bishop Sarah In thè Spring and has covered lopics including working more closely together and safeguarding. Pasloral Care This is offered primarlly by our Vicar, Rev William Coleridge and Rev Tim Fairhead as Curate with assistance from Blanche Mband8 and, more recenlly, Paulin8 Hudson-Evans. Pauline has taken up a new lay pastoral ro18 amongst us, that we are calling 'Coffee and Cake,. Essentially her rol8 Is lo meet with those women who wouhj valu& her pracllcal and spirllual inpul. We commissioned Pauline for the role in the aulumn and she has taken lo11 very well Indeed. Her mlnislry Is vilal. and we thank her for It. Will, Tim, Pauline and Blanche meet wllh a wide variety of indlviduals for different purposes as ell as offering pasloral care Sun(iay by Sunday after our services. We are finding an increasin9 need for pastoral care al our weekly foodbank. This is off8r8d by excellenl team of volunteers, ably headed up by Liz Coleridge and John Henderson. We contlnue to rejoice in the varreiy of the people whom th8 Lord brings lo Sl Mallh8Ws,' we are a very mlxed groupl Mlsslon and Evangellsm We have visitors avery Sunday al St Mallhewsl The nalure of Christian ministry in London Means Ihal 6very Sunday Gangregation is unique and whilsl we enjoy the challenga and opportunilies of this, il doe5 make planning difflculll Our Christmas services this year allracted a smaller ¢ongregatlon on Chrlslmas Day, with Chrislmas Eve remaining Ihe same, al roughly 100.11 is likely that our Christmas Day seNice was smaller due lo Ihe day Chrlslmas fell on this year (a Wednesday). However, there were still over 100 adulls 8nd 25 children so a good number. We plan lo run our first ev8r (shortened form) Alpha course prior to Easler 2025. Thls year we embarked on a major stone cleaning project at Sl MallheWs, The slonework of the church has never been cleaned and Is coated wilh a black carboniferous deposil, hiding the beauty of the building. Scaffoldlng went up Sn late Spring and cleaning has taken place slnce Ihen. This work is necessary lo preserve the bullding. bul il will also mean Ihat the bulldlng far belter advertises the Christian faith to our community., 'speaklng' of our being a living and active Christian communily. We have been able lo manage the work around the extenslve use of lh8 building. Th8 Slonework Committee has been excellenl and their work much appreciated. Likewlse, the conlraclors, Sally Strachey. have offered excellenl and professional work. Worf( is due to be compleled around Easter 2025. Desplle strong applicalion with much community support. and strong proleslations thereafter, we were unable lo persuade Weslminsler Council to grant fund any part of the projecl through their Neighbourhood Communlty Infraslruclure Levg (NCIL) funds, which has over £650,000 sitling idly in Ihe Bayswaler lund. We were told slmply that NCIL is not used for stonework cleaning, even though il has been used for similar external work in Ihe past. Thls was a great dlsappointmenl lo us. However. at the same lime we received the majority ol the funds due to us from Ihe Peter Fergusson Legacy which amounted to an inS1ial £259.000. We remaln humbled by this extraordinary legacy, and we have since received c.£35k more, such that the majority of the project will be covered by the legacy. During thè year £302,761 were tiansferred from the unreslricted funds to the Stonework project, and £277,808 were spent. The Lord works In mysterlous waysl
Docusign Envelope ID.. AD2CB038-2B41410M196*2E312906E9A THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MATTHEW, BAYSWATER TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Since the Preparation of these accounts Sally Slrachey have notified us Ihal they have gone into Volunlary Adminislfalion. Apart from the cost to their employees. we are hoping that this will not have a significant impact on the project, and we are aclivély managing this potentially difficult sc£nario wilh our archilect, Andy Burrell. We continue to hosl: two Alcohollcs Anonymous groups. two SLAA groups (Sox and Love Addlcls Anonymous) and an ACA group (for those with alcoholic parents). All comment wilh heartfelt appreciation on how èxcellenl Ih8y find the let spaces and il Is fair to say that these groups act like churches wilhin our Church. In April 2019 tha Eritrean Gospel Church started lo worship in the Church on Sunday afternoons. They slrugg18d throughout Covid, not least because their seNices are h8avily dependenl on singing, We have fell it right as a PCC lo offer them a subslanlial discount on the rent we would olheNise charge Ihem. They are simply not able lo rals8 more money, and we are nol willing lo lermlnale their seriices in the bulldlng. W8 continue to keep this slluatlon under revlew. They are deeply apprecialive. Our foodbank (now 4 years old) continues to fun exlremety well with excellent local volunleers and a warm and welcomlng vibe each week. 2024 saw the installalion of new shelving which has helped greally. Nick Selmes continues to volunteer hls lime making regular orders lor the foodbank, whlch Is crucial given Ihat W8 give out 800 items a weekl We could not run wilhoul him. The proc8eds from the Julia and Hans Rausing Trusl1£1&350 given n 2022) continue lo b8 fell and we have received furlher grants. nol least anolher £3.000 from the Richardson Brothers. The Whileleys development also give regularly, as do other individuals. We remaln Immens8ly graleful lo Elizabeth Coleridge and John Henderson for organislng the foodbank and to th8 volunteers (an Increasing number from various parts of the local and Sl M8llh6w's community) who 'staff il on Wednesday afternoons. We are glso grateful lor Ihe many smaller donatlons Irom a wide varfely of people and organisalions. Ecumanlcal Relatlonshlps Th8 local Synagogue continue in their quest for their nexl Rabbi and as a result our relationship conlinues to be rather muted al present, That said In 2024 Rev William Coleridge did manage a good coffe8 wilh the Lay Chair, Jeff Altman. Our links with Sl Sophla's Greek Orthodox cathedral aré slowly growlng stronger, not least as a r8suII of our Vlcar's good Iriendshlp vAth Fr Nephon Tsimalis. They invite us lo Ih8ir larger occasions and Rev William Coleridge allends varlous occaslons Ihrough the year. We ring our bells for thelr Easter morning. Human Resource8 Sinc8 October 2017 Sl MattheS has employed John Henderson on a part Ilffle basis as ils Parish Community Worker. The main parl ol John's role remains making connection points wlh the local community, which we hope 11 encourage them into Ihe Church on a Sunday in due ¢UrSe.11 was agreed al our November 2021 PCC meeting to increase John's hours from 15 hours a week lo 18 hours with effecl from 1 January 2022. This has allowed John to lake over runnlng our stonework project which he has done very well indeed. John finlshed the Cornhlll Traii)ing COLJrse, (a Iheology and Bible Irainlng course) in July 2023. From September 2023 John started St Malt's Youlh which Is golng well. H8 also helps at our weekly foodbank. John also works as 8 fieelance musician and plays th8 organ at St Mallhew's from time to Ilme when our regular organist is unavailable. Slnce November 2022 we have employed Stacy McNamara as our Bookkeeper l Adrnlnlslralor for 5 hours a week. Stacy Is offerlng excellent work al Sl Matlhaw's and has significantly streamlined our operations using computer- based processes. Flnan¢ial review S18cy conlinues in her excellent work of running our financial systems. We accepted (with understanding, yel sadness) Mlchael Jeans. resignation as our acting Treasurer. We have yet lo formally lo appoint Michael's replacement, however Dave Hughes has taken over as 'chief approver. for Slacls payment requests, wllh thls system working well.
Docu5rgn Elsvelope ID.. AD2C803B-2B41-410>8196ffj2E312906E9A THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MATTHEW, BAYSWATER TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 The flnanclal results for 2024 reflect the various conllnuing restrictions and ongoing changes that bégan in 2024. Total receipts on unreslricled funds were £380,965 (2023: £170,489) of which £281,157 (2023.. £67,383) was unreslrlcled planned voluntary Gift Aided donations and major part of this donalion Includ6 Ihe Peter Fergusson Legacy for £194,443. the Peter Marshall Bequest of £5.000, RegularlOrdinary- bank transfers & slanding orders of £34,708 (2023: £29,248) and £11,054 (2023". £11,044) from GiftAid on those donallons. The lolal volunlary income for 2024 was £419.851 of which £281,157 was for Unreslricted Funds, £12.949 for Endowment Funds and £125,757 for Restricted Funds, of which includes the Peter Fergusson Legacy of £100,000 8nd Food Bank Donation of £11,433. This cnmpares with £131,806 for 2023, £67.383 for Unreslricled Funds, £12,751 for Endowm8nt Funds. £51,672 for Restricted Funds ofwhich £36,835 for Food Bank Donation. Church Aclivilies include Ihe Ilcencing and letllng of part5 of the Church, lotslling £92,521 In 2024 {2023'. £97,799), of which £35,247 (2023: £27,413) came from the licencing of Ihe Cholr Vestry lo Maria Monlessorl Training (Monlessoril for a nursery school, £24.516 (2023: £27.435} from Pembridge Hall Prep School and £2,015 (2022.. £4,999) from Welherby School. The Erilrean Gospel Church was affected by the same constraints as the main Church and In 2024 we only received £600 (2023: £6001. Chlldren's acllvltles. Includlng the Sunday crèche where possible, have been funded In the past by a very generous donalion which was increased durlng 2019. In 2024 Ihe openlng balance was £1.773 and Income of £3.120 so there IS 8 balance of£2,136 8131 DeG8mb8r 2024. The new Youth Group has been funded in by a granl from the Fulham YMCA. The Reslricled Fund was £2,796 at the beglnnlng of the year and £10,554 8131 December 2024. Our main expenditure from unreslfi¢led funds was £156,764 (2023: £163,009) lo provide the Chri51ian Ministry Irom st Mallhew's Church. 01 this £75,000 (2023: £72,500) was our conlribulion lo the Common Fund lo provide sllpends and employment costs for th8 clergy and a contribution towards Diocesan costs and th6 costs of the wlder Church. The amount which our Church pays lo the Common Fund Is de¢lded by Ihe PCC. The amount for 2024 was £75,000 (2023'.75,000) which was the 8mounl asked of us by Ihe Dloces6. Other major expenditure include8 insur8nce £15,494 (2023.. £16,827), and Church Ulililies and rates expenditure £20.820 (2023: £10.006), Our 5-year fixed gas and eleclricity conlracls expired al the start of the year. and Ihis saw a nearly thre8fold Increase In our unll costs for gas and a near doubling of our eleclrlclty unlt costs. These increases are reflecled In the figures thls year, We have been able to negotiate lower unil costs by about a third for 2025. W6 are now on one yearly fixed lemi contracts. We lake mLtch joy In praising God through music. We much appreciate our Director of Muslc and organlsl, Max Pappenheim, and our choir of paid student singers. who ar8 augmented by unpaid volunleers. This year has seen a partial return of the choir. Our usual high slandard of muslc is nol Gheap, and the cosls were increased sllghtly during 2024 to £16,833 {2023: £17,664) although these do include costs incuried In Ihe prlor year of £1,056. We continued to employ our pari Ilme Parish Communlty worker and bookkeeperladmini51rator. In 2024 they were paid £19,260 (2023- £20,173). Sunday givlng via our Payaz giving machine has encouraged more indlviduals lo conlribule, resulting In a higher volume of donations.
Docvsign Envelope ID.. AD2CB03B-2B414105-81g6-62E312906E9A THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MATTHEW, BAYSWATER TRUSTEES. REPORT (CONTINUED) FOR THE YEAR EAIDED 31 DECEMBER 2024 Reserrfes Policy It is partlcularly dlfflcull to plan for Ihe liming of repairs and improvements expenditure on our magnificent Grade Il, li51ed buildlng. Thls is partly due lo dilTiculty of implemenlalion. W6 therefore need lo lake advantage of opportunities when they arise. Our Quinquennial Surveyor, Andy Burrell, submilled his second qulnquennial report in 2021. Nothing urgenl was pinpointed but there is Ihe inevitable list of ongoing maintenance that we have been allending lo. All urgent matters are now compl818. We are pleased lo report thal the long overdue Stonework Project has gol undeNiay this year. W6 had hoped lo secure a significanl amount of funding from Weslminsler Council via their Neighbourhood Comrnunily InfraslruGlur8 Levy {NCIL), however desplle a strong applicalion we were declined. Weslminsler Coun¢ll do not currently support building maintenance (as they perceiv8 our project). This was hugely dlsappolnting. however remarkably the Peter Fergusson Legacy money It)oks likely lo meet most. if not all. of Ihe project costs. The nel movement balance on our General Unrestricted Fund at 31 December 2024 was £{78,560) and lolal reslriGled was £112,611 making the combined closing balance £34,051. Total expendlture was £473.965. Thls moans that lotal is aboul 1 monlh of expenditure. Rlsk Manag8m8nt Our Procedures for managlng the risks from fraud and Iheft are conslanlly under review. We check our Bank slatemenls carefully vla Ihe electronic access we now have. Wilhin the Church bulldlng. we have paid particular altenllon to rlsks of fire and leTrorism and escape Toules. Th8 easy work has been done. but11 Is particularly drficull lo achieve modem recommendallons In an okj building lik8 our Church. We have seen an increasing number of minor incidents wilhin our foodbank. We log Ihese carefully and are grateful for the support of Clalre Meaney, our area Diocesan Safeguarding Adviser. We have jolned the Diocesan Safeguarding Dashboard. Volunteers One of the continuing marks of St Mallhews is that we do not maintain a church office. This is nol always ideal, but 11 glves Ihe great opportunily for Ihe many volunteers who keep the Church luncllonlng so well. We remaln grateful for the Ilme conlribuled by so many. We note particularly Andrew Pilkinglon (building) and Joanna Grant Pelerkin (Readers). Elizabelh Coleridge provides Invaluabl8 organisation of various 8clivilies, loodbank especially. Structure, governance and management The Parochial Church Councll (the PCC) is a corporale body establlshed by the Church of England. The PCC operales under the Parochlal ChLtrch Council Measure. The PCC is a registered charity. The method of appoinlmenl of PCC members is set out in Ihe Chur¢h Represenlalion Rules. Al St Mallhew's th8 membershlp of th8 PCC consists of the clergy, Churchwardens, Deanery Synod represent81ives and up lo nine other people elecled by Ihose members of the congregation who ar8 on Ihe Elecloral Roll of lh6 Church. All those who are eligible, who allend our services, are encouraged lo register on the EleGloral Roll and sland for election lo the PCC. We are constantly looking lor new PCC members. Our Wardens, James Kite and Linda Dennis, are both cnmmitied and hardworking members of Ihè PCC offerlng èxcellenl support lo the Church and Vicar. Betty Kasozi-Batende conlinues lo sewe as our Chlef Sidasman and organis8r at the back of Ihe Church and we are most graleful lo her for all her hard work. B81ty Is ably assisted by Florence Alao.
Docusign Envelop8 ID.. AD2C803B-284141o5412E3l29¢E9A THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MATTHEW, BAYSWATER TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 The PCC members are responsible for making decisions on all matters of general concern and importance lo lh8 parish, includlng decidino how funds of Ihe PCC are lo be spent. The Di0ce58 provides Iraining for n8w PCC members. The full PCC mel 9 limes during Ihe year. 8 of these were on Zoom and 1 (In October) was a more formal meeting in person al th6 Vlcaragè over a Ilghl supper. Zoom encourages altendance and there was an exce118nt level of attendance Ihroughoul the year of 88•/o (2023: 92Y.). The PCC has two full Commlllees, th8 Slanding Committee and Ihe Finance Committee. The Standing Commillee is required by law. 11 has power to Iransacl the business of Ihe PCC behveen PCC meelings, subject to any direcllons given by the PCC. The Committee meals InfOrnllY as necessary. The Flnance Commillee.. the Vicar, Ihe Churchwardens and the Treasurer. The Flnanc8 Committee was consllluled In 2023 consists of James Kite (Chalr), Michael Jeans. James Skillen, Beora CaNalho and Slacy McNamar3. Amongst ils responslbililles are reviewing the Annual Accounts, annual budget and the performance of the Independent Examiner. The Bulldlngs Worklng Party conslsts of the Vicar. Andrew Pilkington, and Patrick Couderc. The group meets al intervals during the year lo deal wilh church repalTS. malnlenance and improvements. and lo conslder progress wllh various works in the ChurGh. The Trusl88s' report was approved by th8 Board of Truslees. Sl#nq4 Revwhy '&olerfdge - Trustee am 17/07/2025 Dale..
Doeusign Envelope ID.. AD2C803B.2B41-4105-819642E312906E9A THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MATTHEW, BAYSWATER STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2024 The Tnjslees are responsible for preparing the TTuslees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Genèrally Acc8Pled Accounling Praclic8). The law applieabla to charllles In England and Wales r6quir6s th6 Trus16es lo prepare financial slalemenls for each flnanclal year whlch give a Irue and fair view of Ihe state of affairs of Ihe Charity and of the Incoming resources and application of resources of the Charity for that year. In preparing these financial statements. the Truslees are required to: select suitable accounling policies and then apply them consislenlly: - obseNe Ihe methods and principles in Ihe Charilles SORP., make ludgemenls and eslimales that are reasonable and prudent: st8te wh8lh8r applicable accounting standards have bean followed, sublecl lo any materfal d8parlur8s disclosed and explained in Ihe financial slatemenls: and prepare the financlal stalemenls on the golng Conrn basis unless 11 is inappropriate lo pr8sun* thal Ihe charity wlll continue In operallon. The Trustees are responsible for keeplng sufficient accounting records that disclose wilh reasonable accuracy at any limè Ihe financial position of thè Charity and Énable them lo ensure that Ihe financial slalemerts comply with Ihe Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Irusl deed. Th8y Lire also responslble for safeguarding Ihe assets of the Charity and hence for taking reasonable steps for the prevention and deteclion of fraud and other Irregularities.
Docusign Envelope ID.. AD2CB03B-2B414105-8196-62E312906E9A 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 I report to the Trustees on my examinallon of the financial statements of The Parochial Church Council of Ihe Eccleslastical Parish of Sl Matlhew. Bayswaler (the Charity) for the year ended 31 December 2024 which are set out on page g 10 24. Responslbllltles and basls of report As th6 Trustees of Ihe Charily you ara responsib18 for Ihe preparation of the finandal slalemenls in accordance wilh the requiremenls of the Charilles Act 2011 ("Ihe 2011 Act"). Having Sallsfled myself thal the financlal statements of the charity are not requlred lo be audiled und8r seclion 144 of Ihe 2011 Act and are eligible for independent examination. I report in respect of my examinallon of tha charity, financial statements as carried out under section 145 01 the Charitles Acl 2011 ('Ihe 2011 Act'}. In carrying out my 8xamination I have followed the directions given by the Charity Commission under section 14515) (b) of Ihe 2011 Acl. Independent examlner's 8tatemenl I havè completed my examination. I cfjnflrm that no mallers have come lo my 8tlenlion In conneclion with the examlnallon givlng me cause lo believe that In any malerlal respect: accountlng records were not kept Sn respect of th8 Charity as requlred by s8Ction 130 of the Charrtles Ac12011. 2. the ffinanclal slatemenls do not accord wllh those records 3. the financial statements do not comply with Ihe applicable iequiremenls concerning the form and conlenl of financial slalemenls s81 out in the Charities (Accout71s and Reports) Regul81ions 2008 other than any requirement that Ihe financial slalements give a Inj8 and fair view, which is not a maller consideréd as part of an independent examinalion: or 4, the financlal slalemenls have not been prepared In accordance with Ihe methods and principals of the Slalemenl of Recommended Practice for accounllng and reporling by charllles applicable to charities preparing Ihelr accounls In accordance wilh the Flnancial Reportin9 Slandard applicable in Ihe UK and Republic ol Ireland (FRS 102). I h8ve no concerns and have come across no other mallers in conneclion vth Ihe examination to whlch 81tenlion should bo drawn in Ihis reporl in order lo enable a proper understanding of the financlal slalements lo be reachod. Use of my report This report is made solely lo the Trustees in accordance with seGlion 145 of Charilies Acl 2011. My independent examinallon has be8n undertaken so that I might stale lo the Trustees those mallers l am required lo state lo them in 8n Independent ExamSnerfs report and for no other purposes. To Ihe fullest extent permilled by law. I do not 8ccepl or assuffle responsibility lo anyone other Ihan the Trustees for my independent examinalion or this report, Gary Heywood (ACA) For and on behalfof BK Plus Audit Limited Oakingham House, Frederlck Place. High Wycombe, Bucklnghamshira, HP111JU
Docusign Envelop8 ID: AD2C803B-2B414105-8196-62E312906E9A ¢D r Ifj 000 CO 7J 4b 75 oThi o) ( Irj
Docuslgn Envebpe 10- AD2CB03B-2B41410&8196-62E312906E9A 4) **
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MATTHEW, BAYSWATER BALANCE SHEET
AS AT 31 DECEMBER 2024
| 2024 | 2023 | ||||||
|---|---|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |||
| Fixed assets | |||||||
| Investments | 12 | 520,422 | 483,396 | ||||
| Current assets | |||||||
| Debtors | 13 | 15,644 | 19,161 | ||||
| Cash at bank and in hand | 202,986 | 167,455 | |||||
| 218,630 | 186,616 | ||||||
| Creditors: amounts falling due within | 14 | ||||||
| one year | (3,624) | (17,304) | |||||
| Net current assets | 215,006 | 169,312 | |||||
| Total assets less current liabilities | 735,428 | 652,708 | |||||
| The funds of the Charity | |||||||
| Endowment funds | 17 | 532,829 | 484,160 | ||||
| Restricted income funds | 18 | 173,192 | 60,581 | ||||
| Unrestricted funds | 19 | 29,407 | 107,967 | ||||
| 735,428 | 652,708 |
The financial statements were approved by the Trustees on ......................... 17/07/2025 | .............................. SignedRea by: — .............................. JamesSigned by:kite BA6350CB04014B7... 4FO1AED535F444E... Rev William Coleridge James Kite
- 11 -
Docusiqn Enveklpe IO.. AD2CB03B-2B414105.8196-62E312906E9A THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MATTHEW, BAYSWATER NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng pollcles Charlty Informatlon The Parochlal Church Council of the Ecclesiaslical Partsh Is a charity incorporated in England 8nd Wales. The registered offices can be found on the legal and administrallve page. 1.1 A¢countlng convontlon Th8 financi81 slalemenls have been prepared in accordance wilh th8 Charity's governing document. the Charities Act 2011, FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. and Ihe Charities SORP 'Accounling and Reporting by Charilies: Slalemenl of RernMended Pracllce applicable lo charities preparing Ihelr acwunls in accordance with the Financial Reporting Standard appllcable in the UK and Republic of Ireland (FRS 1021° The Charity Is a Public Benefit Entlty as thfined by FRS 102. The financlal slalemenls have departed from th8 Charities (Accounts and Reports) Regulallons 2008 only lo the extent required to provide a true and falf view. This departure has involved following Ihe Slalemenl of Recomrnended Practica for charilies applying FRS 102 ralher than the verslon of Ihe Statement of Recommended Praclice whlch Is referred lo in the Regulallons bul whtch has since been withdrawn. The financial slalem6nls are prepared In sterling, which is the functlonal currency of the Charity. Monetary 8mounls in these financial slalemenls are rounded to the nearest £, The financlal slalemenls have been prepared under the historlcal cost convenllon, The principal accounllng pollcles adoptèd are sel out below. 1.2 Golng ¢oncern Al the Ilme of approving the financial slalemenls, the Trustees have a reasonable expeclallon thal the Charlly has adequate resources lo conllnue in oper81ional existence for Ihe foreseeable future. Thus the Trusteès continue lo adopt Ihe going concern basls of accounllng in preparing the financial slalemenls. 1.3 Charltable funds Unrestricted funds are available for us8 al lh8 discretion of the Truslees in furtherance of Iheir charltable objectives. Restricted funds are subjecl lo specifiG condilions by donors or granlors as lo how they may be used, The purposes and uses of the reslricled funds are sel oul in Ihe notes to the financial slalemenls. Endowmenl funds are subject to specific conditions by donors Ihal the capital must be maintained by the Charrty. 1.4 Income Income is recognised when Ihe Charily is legally enlilled lo il after any performance conditions have been mel, the amounts can be measured reliably. and il Is probable Ihal income wlll be rec£ived. Cash donalions are recognised on receipt. Other donatlons are recognised once the Charity has been nolified of the donation. unless perfomiance condilions require deferral of the amounl. Income lax racoveiable in relalion lo donalions réc8lved under Gtft Aid or deeds of covénant is recognised at the lime of Ihe donallon. Legacles are recognised on receipt or otherwise if the Charity has been notified ol an Impendlng dlslribulion, the amaunl Is known, and reipl is expect8d. If ihe amount is not known, the legacy Is trealed as a contingent asset. 12-
Docusign Envelope ID-. AD2C803B-2B41-4105-819642E312906E9A THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MATTHEW, BAYSWATER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng pollcles (Contlnuod) 1.5 Expendlturo Expendilure is recognised once Ihere Is a legal or conslruclive obligation lo Iransfer economic benefit lo a third party. il is probable Ihat a Iransfer of economic benefits wll be requlred In selllemenl, and thè amount of the obligation can be m8asured rellably. Expenditure is classified by aclivily. The cosls of each activity are made up of the total of dir&1 cosls and shared c£)sls, including support costs involved in undertaking each aclivily. Direct costs allributable to a single aGlivily are allocaled direclly to that aclivity. Shared costs which contribule lo more than one activity and support cosls which are not allribulable to a single activiiy are apportioned beiween those aclivilies on a basis consislent wilh the use of resources. Central staff costs are allocated on thè basis of lime 8penl, and deprecialion charges are allocated on the portion of Ihe asset's use. 1.6 Flxed asset Investments Investments quoled on a recognlsed stock exchange or whose value derlves from them are valued al year end market value, 1.7 Cash and cash equlvalents Cash and cash equivalenls include cash in hand, deposils held at call wilh banks, olher short-lerm liquid Investments with original malurilies of three months or18ss, and bank overdrafts. Bank overdrafts are shown wllhin borrowlngs in current liabililies. 1.8 Flnanclal In8trument8 The Charity has elected 10 8pply the provisions of Section 11 'B8sic Financial Inslruments, and Secllon 12 'Olher Financial Instruments Issues. of FRS 102 lo all of ils financiel inslrumenls. Financial instruments are recognls8d in the Charltys balance sheet when Ihe Charity becomes party lo the conlraclual provislons of Ihe Inslrumenl. Flnancl818SSètS and liabllilles are offsel, with thè net amounls presented in th8 financial stal8menls. when there Is a legally enforceable right lo sel off the rec£Jgnised amounls and there is an Inlenllon lo sellle on a n81 basis or lo realise Ihe asset and sellle the liablllty slmullaneously. Baslc flnanclal assets Baslc financial assets. which Include debtors and cash and bank b81ances, are Inlllally measured al transaction price Including transaclion costs and are subsequently carrfed at amortised cost uslng th6 6ffeclive inleiesl method unless the arrangement conslilules a financing transaction, where the transaclion is measured al the present value of the fulure rec£ipls discounled al a market rate of inleresl. Flnancial assels classified as receivable wilhln on8 year are not amortised. Baslc Ilnanclal Ilabllllles Baslc fin8ncial Ilabililles, Includlng creditors and bank loans are inilially recognised at Iransacllon price unless the arrangement conslilules a financing Iransaclion, where tho debt instrumenl Is measured al the present valua of th& future paymenls disVn1ed at a market rale of interest. Financlal Ilabllilies classified as payable wilhin one year are nol amoriised. Debt instruments are subsequently carfied 8t amortised cost. usin9 the effectivè Interest rate melhod. Trade credltors are obligations to pay for goods or servrc£s Ihal have been acquired In the ordinary course of operallons from suppliers. Amounts payable ar6 classified as current liabilities if payment is due wtlhin one year or less. If not, they are presenled as non-currenl liabilities. Trade credilors are recognised initially at transaction price and subsequently measured al amorlised cost uslng the effective interest method. 13-
Docu51gn Envelope ID.. AD2CB03B-2B41-4105419642E312906E9A THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MATTHEW, BAYSWATER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng policle5 (Contlnued) Darecognltlon of flnanclal Ilabllltles Financial liabililles ar6 derecognised when the Charitrfs contractu31 obligalions 8xplre or are discharged or Cancelled. 1.9 Employe8 beneflts Tha cost of any unused hollday entitlement is recognised in the period in which the employee's servlces are received. Termlnatlon banefils are recognised immediately as an expense when lh8 Charity is damonstrably commllled lo termlnale Ihè employment of an employee or lo provide temiinalion benefits. 1.10 Retlrement ben8llt8 Payments to defin8d conlribution retiremenl benefit schemes are charged as an expense as they fall due. Crltlcal accounllng esllmates and Judgements In the appllcallon of the charitS accounting policles, the Truslees are required lo make judgemenls, eslimales and assumplions about the carrying amount of assets and liabll51ies Ihal are not readily apparent from other sources. The eslimales and associaleij assumptions are based on hlstorical experlence and other factors Ihal are considered to be relevant. Aclual resulls may dlff8r from these estlmales. The esllmales and underlying assumptions are reviewed on an ongolng basis. Revlslons to accounling estimates are recognlsed in the perlod In which th8 estimate Is revised whero Ihe revlsion affecls cnly Ihat period, or in the period of the revision and fulure perlods where Ihe revision affecls bolh current and fulure periods, 14-
Docuslgn Env8lopo ID: AD2CB03B-2841.410&819642E312906E9A ) ¢D roo ¢+) In 111- O) r Cl
Docusign Envelop8 ID.. AOZcB03B-2841-4105-8196-62E312E9A THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MATTHEW, BAYSWATER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Income from charllable actlvltles 2024 2023 Income from Church actlvltles Lalling vestry arid Church Lego club Fees 92.521 1.444 609 97,799 879 1,923 94.574 100.601 Letting income decreased In 2024 due lo fewer booklngs from Pembrldg8MelheTby schools. Fees conslsl of Income altributed lo wedding banns and Christmas lunch ev8nl. Income Irom Invostments Unrestrlcted Unrestrlcted funds funds 2024 2023 Dividends Bank interest 1,060 4.174 1,007 1,498 5,234 2,505 16-
Docusign Envelope ID= AD2CB038-2B41-410M196-62E312906E9A THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MATTHEW, BAYSWATER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Expendlture on charltable actlvllles Charltable Charltable expenditure 8xpendltur8 2024 2023 Dlroct costs Church cleanlng Church building expendilure Concerts and events ChildrenNMCA youth group Church maintenance Church ulililies and rates 2,899 6,762 2,181 5.135 6.938 20.620 2.385 21.060 2.619 3,488 13,745 10,006 F li Club Lego Insurance Licenses and equipment mlnlslry ¢osts Food bank donallons Mlnlslry common fund Mlsslonary giving Org8nisl and cholr Printing and stationary Staff cosls T818phone and IT costs Wages Stonework fund 369 15,494 2,213 14,879 75,000 795 16,833 1,510 1,471 1,260 19,260 277,808 157 16,827 2,331 17,048 72,500 2,230 17,664 2,308 3,312 1,107 20,173 471,427 208,960 Share of support and governance ¢osls (see note 7) Support Governance 280 2,258 246 1,635 473,965 210,841 Analysls by fund Unreslricled funds Restrlcled funds 156,764 317,201 163,009 47,832 473,965 210.841 17-
Docusign Envelope ID: AD2CB038-2B41-4105-8196-62E312906E9A THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MATTHEW, BAYSWATER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Support costs allocated to actlvltles 2024 2023 Support Gov6rnanc6 costs 280 2.258 246 1,635 2.538 1,881 Analysed betW8en: Bank charges Accounlancy and IE fees Legal and professional lees 280 2,100 158 246 1.635 2,538 1,881 Trustees No Iruslees received any remuneration or benefils from the charity during th8 year. One liuslee Is conn8cled to a person employed by tha charity. The trustee is nol involved in any decisions regarding their spouse's employment or remuneralion. Employè8S The average monthly number of employees durin9 the yearwas: 2024 Number 2023 Number Employmenl costs 2024 2023 Wages and 8818ries other penslon costs 18,787 473 19,987 186 19,260 20,173 There were no employees whose annual remuner2lion was more than £60,000. 18-
D¢XUSign Envelope ID-. AD2C803B_2B41.4105-8196-62E312906E9A THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MATTHEW, BAYSWATER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 10 Galns and losses on Investments Reslrlcted Endowment fund5 funds 2024 2024 Total Restrlcted Endowment funds funds 2023 2023 Total 2024 2023 Gains arising on: Revaluation of inveslmenls 1,306 35,720 37.026 40,472 40,472 11 Taxatlon The charity is exempt from tsxation on ils activities because all Its income is applied for charitable purposes. 12 Flxed asset Invéslménts Endowmant Central board of Flnance 8har88 Cost or valuatlon Al 1 January 2024 Valuation changes 483,396 37,026 At 31 December 2024 520,422 Carrylng amount Al 31 December 2024 520,422 At 31 December 2023 483.396 13 Debtors 2024 2023 Amounts falling due wlthln one year: Trade d8blors Income lax recovarablo 8,898 6.746 13,600 5,561 15,644 19.161 19-
Docusign Erkvelope ID.. AD2CB03B-2B41-4105-8196-62E312906E9A THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MATTHEW, BAYSWATER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 14 Credltors: amounts falllng due wlthln one year 2024 2023 Tradè credllors Other creditors Accruals and deferred income 3,624 10,899 1,528 4,877 3,624 17,304 15 Capllal commltment8 There were no capilal commitments during the year (2023.. £Nil). 16 Retlrement ben8flt 8ch8m88 2024 2023 Dèflned contrlbullon schemes Charge lo profil or loss In resp8Ct of defined conlribulion schemes 473 186 The Charlly oper8les a defined contribution penslon scheme for all qualifylng employees. The assets of the scheme are held separately from those of the Charlty In an independently admlnlst6red fund. 17 Endowrnent fund8 Endowment funds represent the Emma Rolhwell Legacy, Ihe Lynch Legacy and the Lady Harland Bequest for the Èndowmenl oflhe living and the Church. The Church can only use Ihe In)me form Emma Rolhwell Legacy and cannot spend the capilal. At 1 January 2024 Incomlng resources Transfers Gains and losses At31 December 2024 Permanent andowments Donations and legacles Emma Rolhwell Lady Harland Lynch Legacy 12,949 25.366 9,647 266 441 38.315 465.330 11,839 17,345 455,683 11,573 16.904 484,160 12,949 35.720 532,829 -20-
Docusign Envelope 10.. A02C803B_2B4141054196ffj2E312906E9A THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MATTHEW, BAYSWATER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 17 Endowment funds (Contlnued) Prevlous year". At l January 2023 Incomlng resources Transfers Galns and 1088è8 At31 December 2023 Permanent endowmants Donallons and legaGles Emma Rolhwell Lady Harland Lynch Legacy 12.751 (12.7511 415.799 10.578 17.311 39,884 995 (407) 455,683 11,573 16.904 443.688 12.751 (12,751) 40,472 484,160 18 Restrlcted funds The reslricled funds of the charlty comprise th8 unexp8nded balances of donations and granls held on trust sublecl lo specific conditions by donors as to how they may be used. At l January 2024 Incoming Resources resources expendèd Transfers Gain5 and losses At31 December 2024 Building repairs Cenlen8ry fund Choir fund Chlldren Peler Fergvsson legacy - Fabrics Flower fund Food bank donation5 Glft Aid from reslricled funds Poppy tin lo Royal 8rilish Leglon Olher appeals Ston6work project Vlcars discretlonary YMCAfunding 1,179 13,677 2,571 1,773 (1,179) (14,441) (2,571) (2,757> 26,672 25,908 3,120 2.138 100.000 15 100,000 3,680 3.801 (136> 26.649 11,433 (14.880) 23,202 4,229 670 4,899 36 (36) (143) 143 413 (277,808) 302.761 (25,366) 3,763 2.796 (1.000> (2.250) 2,813 10.554 10.008 60,581 125,745 (317.201) 302.761 1,306 173.192 As highlighted In the tru5tees' report, funding for the slonework project was not granted by the counul. Consequenlly, the shortfall was met using excess unrestrlcied funds. 21
Docuslgn Envelope ID.. A02CB03B.2B41410M196-62E312906E9A THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MATTHEW, BAYSWATER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 18 Restrlcted funds (Conflnued) Prevlous yèar.. At 1 January 2023 Incomlng restsurces Resources expended Transfers Galns and losses A131 December 2023 BulldSng repalrs Conlenary fund Choir fund Children Flower Easter Lili fund Flower fund Food bank donations GIftAld from reslricled fund8 Henderson Julia and Hans Rausing Trust. Healing Kneeler fund Olher appeals Stonework prolecl Vicars discretionary YMCAfunding 11.690 13,677 (10.511) 1,179 13,677 2,571 1,773 5,381 3.120 (2,810) (2.923) 1.576 25 (25) {65) 3.866 3,801 6.862 36.835 (17,048) 26,649 3,454 775 845 4,229 (845> 1,100 20 235 (1.100) {1.558) (235) 1.538 143 143 10,162 (10.162) 3,773 {io) {540) 3.763 2.796 3,336 56.741 51.672 {47,832) 60,581 Vicars discretionary.. The Mcarfs discrelionary fund Is used by Ihe Vicar lo meet the needs of thcÉo who are In particular dislress. parlicularly those who appear at the Vicarage door from Ilme lo lime. Cenlenary fund.. The Centenary fund was launched In 1982 to form a capital fund lo provide resources for pastoral asslslance. Choir fund.. Choir Scholars is Ihe cholr fund. bul now being funded by Goldman Sachs grant received in 2023. YMCA funding.. lo support the Youth Group al St Matlhews Bayswaler. Peter Fergusson legacy was given lo Ihe Church 2024. Flower fund- The Flower fund was established to provide flowers for church servlces and other events. Children.. Children represents the amounls given towards the Sunday creche and olh&r children's aclivillas. Muslc donallon.. From time lo lime, in recognition of Ihe excellenl standards of muslc al St Mallhew's, members of Ihe congregation and olhers provide donalions towards our paid choir and organlst, whlch Is placed in this fund. Food bank donations." Sl Matthews runs a busy foodbank. To facilitate the purchase of food, members of lh8 communlly. other charities and members of the church congregation give lowards Ihis important work. stonework prolect is sel to complete by mid 2025, inilially a projecled lolal c051 of £500,000. -22-
Ooctssign Envelopo ID.. AD2C8038-284141054196-62E312906E9A THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MATTHEW, BAYSWATER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 19 Unrestrlcted lunds Tha unrestricted funds of the charity comprise the unaxp6nded balances of donalions and grant5 which are not subject lo specific conditions by donors and grantors as lo how they may be used. These include designaled funds which have been sel aside oul of unreslricled funds by the Irus18es for specific purposes. At 1 January 2024 Incomlng Rosources resources expended Transfers At31 Decembèr 2024 General funds 107.967 380.965 {156,764) {302,761) 29,407 As hlghlSghted In the trustees, report, funding for the slon8work project was not gran18d by the CunCl1. Consequenlly. the shortfall was met using excess unrestricted funds. Prevlous year: At 1 January 2023 Incomlng resources Resources oxpendéd Transfers At31 December 2023 General funds 87.736 170.489 (163.009> 12.751 107,967 20 Analysls of net assets between funds Unrestrlcted funds 2024 Restrlcted Endowment funds funds 2024 2024 Total 2024 At 31 December 2024: Inveslmenls Current assets 520,422 12,407 520,422 215,008 29,407 173.192 29,407 173,192 532.829 735,428 Unre5trlcled funds 2023 Rostricted Endowmont funds funds 2023 2023 Total 2023 At 31 December 2023: Investments Current assels 483,396 764 483,396 169,312 107,967 60.581 107,967 60,581 484,160 652.708 -23-
D¢xusign Envelope ID.. AD2C8038.28414105419642E312906E9A THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MATTHEW, BAYSWATER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 21 Relatod party transactlons Travelling expenses of £252 (2023: £208), telephone costs of £397 {2023: £4801, Zoom subscription of £192 (2023.. £182) and conference costs of £192 (2023." £70). Apart from the above, no other payments or expenses were paid lo any olher members of the PCC, persons closely connecled to them or relaled parties. Recorded donations from related parties (PCC members) included £16.340 (2023- £13,390) to Unreslricted Funds and £Nil {2023 £Nil) lo Reslricled Funds. -24-