ST LUKES PCC EDGBASTON, BIRMINGHAM Charity Registration numljer." 1161342 REPORT AND AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ST LUKES PCC EDGBASTON, BIRMINGHAM YEAR ENDED 31 DECEMBER 2024 TRUSTEES ANNUAL REPORT Administrative Inforniatlon Registered Charity Number 1161342 Principal / registered address St Luke's Church Centre, Great Colmore Street, Birmingham. B15 2AT Bankers Lloyds Bank 36-38 New Street, Birmingham, B2 4LP CAF Bank 25 Kings Hill Avenue, Kings Hill, West Malling, ME19 4JQ Stewardship l Lamb's Passage, London ECIY 8AB Auditors Knight Goodhead Limited 7 Bournemouth Road, Chandler's Ford, Eastleigh, Harnpshire, S053 3DA St Luke's Edgbaston is part of the Diocese of Birmingham within the Church of England. The correspondence address is Vicar, St Luke's Edgbaston, Great Colmore Street 815 2AT. The PCC is a body corporate {PCC Powers Measure 1956, Church Representation Rules 2(X)61. The PCC Members who have served at any time from 1st January 2024 until the date of this report was approved are: Ex Officio Members - Clergy & Lay Workers Re¢d Tim Hughes IChair)- Vicar ReTr/d Nick Drake- Priest of the Parish Rev'd Ali Herbert- Priest of the Parish Rev'd fimothy Bateman- Priest of the Parish (left February 20241 Rev'd Pete Norris- Priest of the Parish tioined September 2024) Re¢d Mike Darbandi - Curate Rerfd Amy Tan - Curate {left February 20241 Re¢d James Leavy - Curate tioined July 2024) Rev'd Katie Stock - Curate Ibecarne Curate-in-charge of the Parish of Christchurch Summerfield January 2023) Paul Nelson - Licensed Lay Worker tioined December 2024) Ex Officio Members - Church Wardens Jonathan Pearson- Church Warden Mamfuka Mudere- Church Warden ST LUKES PCC EDGBASTON, BIRMINGHAM YEAR ENDED 31 DECEMBER 2024 Elerted Members Hannah Miller IPCC Secretary) James Bird {Safeguarding Lead) Olver Snelling Sophie Crew Nick Harding Frank Harper {Treasurer) Susan Mountford Handsworth & Central Deanery Synod Elected Members (ex-officio) Gavin Darman {resigned October 2024) Lucy Cavell Joshua Wilson Akhil Shah Keith Kaselampao Henry Rattle Birmingham Diocesan Synod Elerted Members {ex-officio) Daniel Lonergan {joined August 20241 IfeoSuwa Obakin (joined August 20241 Jonathan Pearson (as well as Church Warden) ts"oined October 2024) C(H>pted Members William McKemey Darlene Cons There ore afurther 3 Deanery Synod Reps on the Kings Norton, Moseley & Solihull Deanery Synod who represent Gas Street South ond don't sit on the St Luke'5 PCC. Structure, Government and Management The method of appointment of PCC members is set out in the Church Representation Rules. At St Luke's Edgbaston, the membership of the PCC consists of the Vicar, the Parish Priests, the Church Wardens and then seven members elected by the congregation who are on the electoral roll of the Church lone of which is the PCC Secretary). In addition, there are six ex officio members who are rnembers of the PCC by virtue of their membership of Deanery Synod. On 22. January 2022, a Bishops Mission Order {BMO) set up the Mission Initiative to be known as Gas Street South. That BMO noted the following: Organisation, governance, finance ond management and control of property,. As part of the Gos Streetfomily the Mission Initiative will operate from within the strurtures of Gos Street. There are two representatives from each church location (Gas Street Church, Gas Street St Luke's and Gas Street South) to ensure representation and good governance. ST LUKES PCC EDGBASTON, BIRMINGHAM YEAR ENDED 31 DECEMBER 2024 Ahead of the launch of Gas Street Longbridge in February 2024, a Seniice Level Agreement was signed by St John the Baptist Longbridge PCC in November 2023 to delegate the operational running of Gas Street Longbridge to St Luke'5 Edgbaston PCC and its staff team. St John's remains an independent PCC responsible for it5 buildin& safeguardin& pattern of worship and insurance. In the Service Level Agreement, the below was outlined to ensure shared oversight acr055 Ga5 Street locations: Two members of Stjohn's PCC will also be members of the St Luke's PCC to represent the Gas Street Longbridge location One of the St John's Churchwardens will be a member of a joint Standing Committee across St Luke's & St John's There will be one joint St Luke's and St John's PCC meeting per year The PCC members are responsible for making decisions on all matters of general concern and importance to the parish, the Mission Initiative, and other locations, including deciding on how the funds of the PCC are to be spent. All PCC members are safer recruited, given a role description prior to joining to ensure they understsnd their responsibilities, and have full safeguarding training which is renewed every three years. The full PCC meets a minimum of five times a year with an average attendance rate of over 70%. To ensure effective governance throughout the year. the following bodies are also part of the Governance structure; Joint Standing Committee -The Standing Committee {SC) as detailed in Church Representation Rules 12017), is a committee of the Parochial Church Council {PCC), and reports to the PCC. Specifically, it is empowered to transact the business of the PCC between the meetings thereof Subject to any directions given by the PCC. The SC consists of the Vicar, the Associate Vicar, the two churchwardens, the Treasurer, the PCC Secretary, and a churchwarden from St John's PCC. The Exec Team {Co-Senior Pastor, Executive Lead & Associate Pastor are also in attendance). It was agreed that an additional PCC member rnayjoin the meeting from time to time if felt necessary to ensure that all locations were represented. Location Consuttation Group- each church location has a consultation group, chaired by the Location Pastor. These Committees have no delegated authority, but their purpose is to discuss and pray for the location and feedback to the PCC on any decisions or changes they feel are necessary. These location committees will meet several times a year at the discretion of their Chair. ST LUKES PCC EDGBASTON, BIRMINGHAM YEAR ENDED 31 DECEMBER 2024 Exec Team - The Exec Team has delegated responsibility from the PCC for executing the day-to-day management of the church, bringing spiritual and operational leadership and putting Vision & Strategy in place. It is the senior leadership team and the key decision-making body on behalf of the PCC. The Exec Team consists of: Re¢d Tim Hughes {Chair)- Co-senior Pastor & Vicar Rachel Hughes- Co-senior Pastor Rev'd Dr Nick Drake- Associate Senior Pastor Rerfd Ali Herbert- Associate Pastor James Brumwell- Executive Lead Full terms of reference for the governance structure can be found at www. asstreet.church overnance Aims and Purposes St Luke's Parochial Church Council {PCC) has the responsibility of co-operating with the Vicar, Reverend Tim Hughes and the Parish Priests, in promoting the whole mission of the Church, pastoral, evangelistic, social and ecumenical. The PCC is also responsible for the maintenance of Gas Street Central (Gas Street, Birmingham) and Gas Street St Luke's (Great Colmore Street, Birminghaml. Objectives and Activities The PCC is committed to enabling the two locations which make up the parish of St Luke's Edgbaston {Gas Street St Luke's and Gas Street Central) and the Mission Initiative, Gas Street South, to provide light and hope for the people in the city of Birmingham through the worship within the church buildings and through actions and activities in the community and beyond. The PCC is also partnering with St John's to expand its mission to Gas Street Longbridge. The PCC maintains an overview of worship at all church locations and advises on how the different congregations work together bringing their different gifts and skills to reach more people in Birmingham. Building Church Community in 2024 This year has seen an exciting growth both in the size of ourchurch community and its representation. We have seen 18% more attending across locations at the end of 2024 compared to the end of 2023. We launched an additional evening gathering at Gas Street Central in October 2024 to create more space for people to worship. We saw 328 make a commitment to Jesus in 2024. We regularly have over 120 Kids on a Sunday, and we baptised 132 people in 2024. The community continues during the week as church members gather in our Gas Street Communities relaunched in May 2024 these are now spaces where over 700 people can grow, learn and discover together in the context of community. Our youth and student mid-week groups are also growing and thriving as we seek to provide church community for all ages," with over 150 young people and around 130 students engaged. ST LUKES PCC EDGBASTON, BIRMINGHAM YEAR ENDED 31 DECEMBER 2024 One of our aims is to build a church communtty that is diverse and represents the diversity of the city we live in. Whilst recognising we have a lot more to do, we are encouraged by the increased diversity we have seen in the last few years: 38% of the adult congregation we have data for belong to ethnic minority groups (compa￿d with 24.8% in Sept 21) - this doesn't include oround 150 people in our International Fellowship Community who are not registered on our database due to language barrier5 18% of the Staff Team belong to ethnic minority groups (compared to IO% in 2018) 38% of those serving on GS Teams are from ethnic minority group5 (compored to 23% in Sept 2021) 40% of GS Communities have ethnic minority leaders (compared to 30% in Sept 2021J 31% of our GS Leaders belong to ethnic minorty groups (compared to 27% in February 2023) 78 nations are represented in our community (compored to 51 in February 2023) Our International Fellowship Community continue to gather with us on Sunday morning5 at Gas Street Central and mid-week at Gas Street St Luke's, enabling this community to meet and worship in their own language. Expanding Church Community in 2024 Church planting and opening more locations to exiend our church community has always been a key part of the church. During thisyearwe have launched Gasstreet Longbridge which is already a thriving community, with over 200 people each week (inc. 40 Kids & Youth) and we've seen over 40 people give their lives to Jesus and 12 baptisms. Reoching the wider Community oround our Church Community in 2024 Love Your Neighbourfs presence in Attwood Green & Lee Bank in 2024 has made a real, tangible difference to the lives of those in our local area. We have provided the following services alongside building relationships with the local community: • Foodbank weekly delivery- this is by referral only CAP Debt Centre- advising and supporting those struggling with debt to become debt-free The Community Shop - members receive a weekly food shop for £4.50 including fresh fruit and veg, meat and dairy. To be eligible members must live 1.6km from our building and be in receipt of means-tested benefits. This service is well known in the city, and supported by the Council CAP Job club- a course supporting those looking for work as well as 1:2:1 support Kids Matter- a course and community for parents and carers of under 12s ESOL classes- we had two classes throughout the year (beginnings and intermediate) Community Choir- a space to build confidence and community • Craft Club- a place to be creative and build community Leadership For Life - an Emerging Leaders course we ran 3 times in 2024, and have seen remarkable tangible life changes Community Meals - provided through Colmore Coffee, a free hot two-course meal twice a week ST LUKES PCC EDGBASTON, BIRMINGHAM YEAR ENDED 31 DECEMBER 2024 • Bright Music, as part of Colmore Coffee - a small charge for these classes, ranging from 0-4 years old Love Christmas-during the Christmas period we distributed 'Bags of Kindness, across the city for those in need, delivered Christmas Hampers and put on Christmas Family Fun Day We have also been a Warm Welcome space, advertised across many platforms, providing a place for people to be warm, seen, and welcomed without needing to spend a penny. Our Pay It Forward systern at Colmore Coffee has really helped to support this. Missional Giving The PCC made a commitment to give away IO% of it's giving for missional purposes. Grants are given to external organisations and to Missional Partners which are approved each year by the PCC, in line with mission principles & values: Mission Principles- the PCC believes mission should include the following: l. To proclaim the Good News of the Kingdom 2. To teach, baptise and nurture new believers 3. To respond to human need by loving service 4. To seek to transform unjust structures of society and pursue peace and reconciliation 5. To strive to safeguard the integrity of creation and sustain and renew the life of the earth These principles a￿ based on the five marks of mission that were developed by the Anglican Consultative Council between 1984 t7nd 1990 and stem from the understanding that God's glory is to be declured to oll nutions. Mission Values- the PCC believes mission should be: l. Faithful to the clear teaching of scripture 2. Done in the power of the Holy Spirit 3. Done in partnership with the local church 4. Culturally relevant and appropriate Mission Priorities - the Pcc's mission priorities are: l. To extend Jesus, Kingdom in the City of Birmingham 2. To extend Jesus, Kingdom through church planting and church resourcing, including enabling worship 3. To extend Jesus, Kingdom to vulnerable children Missional Partners are selected and proposals will be assessed against these principles, values and priorities. One-off gifts may be given to otherorganisations thatare in line with the principles &values, at the Standing Committee's discretion. ST LUKES PCC EDGBASTON, BIRMINGHAM YEAR ENDED 31 DECEMBER 2024 Elertoral Roll for the Parish Currently there are 498 on the St Luke's Parish Electoral Roll as recorded at the APCM April 2024. There are a further 63 on the Gas Street South Mission Initiative Roll as recorded at the APCM April 2024. Future Plans Throughout 2025, the PCC intends to keep growing the church community across four locations and has a commitment to church planting across Birmingham and beyond. There will be a particular focus on prayer & worship. including establishing more regular prayer meetings and an annual conference. Financlal Review The Gas St building was purchased by the Bimiingham Diocese in 2015 and all the funds raised and project spend was handled on behalf of St Luke's by the Birmingham Diocese Board of Finance (BDBF) until 30th June 2016. To enable the BDBF to fund the purchase the Gas St congregation committed to service two loans: (i) a loan of £730,0(X) with interest being charged at base rate plus 0.5% (renegotiated during the year from base rate plus 3.5%)- and lil) and an interest free loan of £340,000 repayable in annual instalments over 5 years, which was repaid in full during 2021. The loan balance outstanding as at 31st December 2024 was £530,911. During 2023 the church sold its property in Princess Street, Birmingham and purchased a new property Using the sale proceeds as well as a mortgage from Stewardship. The balance outstanding on this mortgage as at 31st December 2024 was £239.252. The total income for the year ended 31 December 2024 on unrestricted funds was £1,963,269 (2023." £1,660,701). The details of the income from donations of £1,471,47312023: £1,128,524} are shown in the Financial Statements. The Great Colmore Street church centre is used significantly by the local community and produced an income for the year of £143,048 {2023: £80,743). The restricted fund income for the year of £479,45612023: £259,958) included a generou5 gift of £30,393 from St Martin Trustees to help provide financial support for staff costs. As shown in the Funds note of the account (Note 14), the church recerved funding from Birmingham Diocesan Finance Board for the running of Gas Street South and Gas Street Longbridge via their Strategic Development Fund. We also received matched funding of £26,0(X) from the Church Revitalisation Trust under the Love Your Neighbour {LYN} scheme agreement. The total expenditure for the year in respect of unrestricted funds on Christian ministry was £1,762,991 {2023: £1,901,140) and this included total direct staff costs of £406,447 (2023: £808,902). The net resultfor the yearshows a surplus of £133,01012023: deficit of £209,964), and an unrestricted funds balance of £1,180,08612023: £979,698). At 31 December 2024, total funds stood at £1,275.10512023: £1,152,096). This includes £105,020 in various restricted funds12023: £172,398) and £530,570 in various funds designated by the PCC for particular purposes {2023: £563,608). General Funds totalled £649,516 {2023: £416,0￿} at the year end. ST LUKES PCC EDGBASTON, BIRMINGHAM YEAR ENDED 31 DECEMBER 2024 Reserves Policy As highlighted in last yearfs report, during 2024 the PCC reviewed the reserves policy to ensure that it was 'fit for purpose, based on our differing activities taking into account the three risk elements of Running Reserves, Project Reseries and reserves for unknown future events. As a result the PCC agreed to change the reserves policyto'ensure we maintain sufficient cash to meet at least 2 months, unrestricted payments, {Previously it was 3 months,.) At 31 December 2024, ourcash reservestotalled £704.267, while ourcurrent unrestricted expenditure for 2 months is £293k, so we are within the stated reserves policv. Additional Informatlon The PCC would like to thank all the volunteers on both church sites who work tirelessly to make St Luke's Edgbaston a welcoming, worshiping and outward looking community. Many of these volunteers go unseen and unrecognised but the PCC is so thankful for their commitment, energies and time. Statement of responsibilities of the trustees The trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and the United Kingdom Generally Accepted Accounting Practise {UK GAAPI. The Charities Act requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity at the end of the year and of the surplus or deficiency for the year then ended. In preparing those financial statements, the Trustees are required to: select suitable accounting policies and then apply them consistently make judgements and estimates that are reasonable and prudent observe the methods and principles in the charities SORP state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements- and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation ST LUKES PCC EDGBASTON, BIRMINGHAM YEAR ENDED 31 DECEMBER 2024 The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011. The Trustees 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. Approved by the trustees and signed on their behalf by F J Harper Trustee Date: INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF ST LUKES PCC, EDGBASTON, BIRMINGHAM Oplnlon We have audited the financial statements of St Luke's PCC, Edgbaston (the Charity), for the year ended 31 December 2024, which comprise the Statement of Financial Ath'vibes. the Balance Sheet, the Cash fiow Statement and notes to the financial statements, induding a summary of significant ￿Unts.ng policies. The financial reporting framework that has been applied in their preparats'on is applicable law arKI United Kingdom Accounb'ng Standards including Financial Reporting Stsndard 102.. The Financial Reporting Standard applicable in the UK and Republic of Ireland {United Kingdom Generally Accepted Accounts'ng P￿tice). In our opinion, the financial statements.. give a true and fair view of the state of the Charitls affairs as at 31 December 2024. and of ts incoming resources and application of resources for the year trEn ended; have been properly prepared in ￿)rdan￿ ￿￿th United Kingdom Generally Accepted Accounting Practi￿,. and have been prepared in ￿rdan￿ with the requirements of the Charities Act 2011. Basis of opinion We conducted our audit in accordance Intemational Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are futher described in trE Auditols resp)nsibilities for the audit of the financial statements section of our reFK)rt. We are independent of the Charity in accordan￿ with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fijlfilled our other ethical responsibil￿e5 in ￿rdan￿ with these requirements. We believe that the audit evidence we have obtsined is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In audits'ng the financial statements. we have concluded that the trustees. use of the going concem basis of ￿)UntIng in the preparation of the finarKial statements is appropriate. Based on the work we have perfomied, we have not identified any material un￿rtaIntieS relating to events or conditions that, individually or collectively, may cast sKJnificant doubt on the Charity's ability to continue as a going concem for a periLyJ of at least12 months from when trE finartial statements are authorised for issue. Our responsibilibes and the resrK)nsibilths of the trust￿ with resM to going concem are described in the relevant sections of this report. Other infomiation The other infomiation comprises the information irKluded in the annual report, including the trustees, rewrt, other than the financial statements and our auditorfs report thereon. Our opinion on the financial ststements d￿S not cover the other infomats'on and, eX￿pt to the extent otherwise explicitly stated in our report, we do rK)t express any fomi of assurance Conclusion thereon. Our resp)nsibility is to read the other infomiation and. in doing so, consider v￿￿ther the other infomiation is materially inconsistent with the financial statefflents or our knO￿dge obtained in the audit or otherwtse appears to be materially misststed. If we identify such material inconsistencies or apparent material misstatements, we a￿ required to detemine whether this gives rise to a material misstatement in the fina￿la1 ststements themselves. If, based on the work we have perfomed, conclude that trEre is a material misstatement of this other InfO￿atiOn, we are required to rewrt that fact. We have nothing to report in this regard. 10 INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF ST LUKES PCC, EDGBASTON, BIRMINGHAM Mattets on which we are requlred to report by exception In the light of the knovledge arKI understanding of Charity and its environment obtained in the course of the audit, we have rKIt identified material mi5ststements in the Trustees, Annual Report We have nothing to retM)rt in respect of the followtng matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you rf, in our opinion: the infomation given in the trustees, retx)rt is irtonsistent in any material res￿ with the financial ststements., or sufficient Munting records have not I￿n kept,. or the financial statements are not in agreement the ￿)Unting records. or y￿ have not obtained all the infonnation and explan*'ons necessary for the purpjses of our audit. Responsibilities of the trustees As explained more fully in the trustees. responsibilths statement, the trustees are resFm)nSib￿ for the preparats'on of the financial statements and for being s*'sfied that they give a true and fair view, and for such intemal control as they detemine is necessary to enab￿ the preparats'on of financial statements that are free from material misstatement. whether due to fraud or error. In preparing the financial ststements. the trustees are responsible for assessing the Chanty's ability to continue as a going concem, disclosing, as applicab￿. rnattefs related to going concem and using the going concem basis of accounting unless the trustees erther intend to liquidate the Chaty or to cease operats'ons, or have no realistic attemative but to do so. Auditorfs responsibllities for the audit of the financial statements We have been appointed as auditor under Section 144 Chanb'es Act 2011 and report in accordan￿ with the Act and relevant regulations made or hawng effect thereunder. Our objectives are to obtain reasonable assurance atK)Ut whether the financial statements as a whole are free from material misststement. whether due to fraud or efror. and to issue an auditorfs report that includes our opinion. Reasonable assuran￿ is a high level of assurance. bul is not a guarant￿ that an audit conducted in accordan￿ with ISAS (UK) wi15 always detect a material misststement vthen it exists. Misstatements can arise from fraud or error and are considered material rf. individually or in the aggregate, they coukl reasonably be expected to Influen￿ the economic decisions of user5 tsken on the basis of these financial statements. Irregularities, including fraud, are InStan￿S of rK)n)sl exceeds £5,CQO. Equipment used within the thurch p￿miseS is deprwiabj on a straight line basis over 4 years {AV computer and fixtures and fittings}. lfj Current assets Amounts owing to the PCC al 31 Decemter in of fees, rents or other in(r)￿￿ are shovm as debtors less provision for amounts thal may prove uncollectable. Short-term depjsits indude cash held on deFX)Sit either Iwth the CBF Churth of England Funds or at the bank. 18 ST LUKES PCC, EDGBASTON, BIRMINGHAM NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 (continued) Igl Financial instru￿￿nIS The charity has elected to apply the provisions of S￿b.on 11 'Basic Financial InstNments' and Section 12 '0ther Financial instruments issues, of FRS 102 to all of its financial instnjments. Basic financial assets, which indude debtors and cash and bank balan￿, are initially rr£asur&l at trdnsaction pri￿ induding transaction costs and are subsequentty carried at amortised cost using the effective interest ffEthc4J unless the arrangemenl consittutes a financing transaction, where the transaction is measured at Ihe present valiE of ￿ future [￿lp1S di9£ount￿l at a market rate of interest. Financial assets classrfied as re￿1vable wthin one year are not amortised. Basic financial liabilities, are inib'ally recoJnised at transaction price unless the arrangement o)nstrtutes a financing trdnsaction, where the debt instrument is measured at the present value of the future paynEnts di9xunted at a rna￿et rdte of interest. Financial liabilities classified as payable within one year are not amrtis&J. 2 ADMINISTRATIVE INFORMATION The charity is unincotForated and Wds registered on 20 April 2015 ¥￿th the Chanty Commission in England and Wales. The regisler&l number is 1161342. The registered Offi￿ of the charity is St Luke's Church Centre, Great Colmre str￿t, Bimingham, B15 2AT. 19 ST LUKES PCC, EDGBASTON, BIRMINGHAM NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 (continued) 3 INCOME Unrestricted Restricted funds funds Total 2024 Total 2023 (restated) DONATIONS AND LEGACIES Planned or one-off giving Collections Tax recovery Total donations and legacies 1,147,198 80,720 243,555 1,471,473 71,527 2,308 4,742 78,577 1,218,725 83,028 248,297 1,550,050 920,869 71,780 197,388 1,1 gJ,037 CHARITABLE ACTIVITIES Event ino)me 304,590 304,590 523 305,113 305,113 261,721 261,721 523 TrADING ACTIVITIES Communty area hire Community area sales 62,355 79,263 141,618 62,355 80,693 143,048 18,800 61,943 80,743 1,430 1,430 INVESTMENTS Dividends Interest 304 6,761 307 6,761 7,068 4,024 2,977 7,001 OTHER INCOME Grant income Gas Street Music income Other income 398,923 399,423 18,137 19,886 437,446 320,586 50,434 10,137 381,157 18,137 19,886 38,523 398,923 TOTAL INCOME 1,963,269 479,456 2,442,725 1,920,659 20 ST LUKES PCC, EDGBASTON, BIRMINGHAM NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 {continued) 4 EXPENDITURE Unrestricted Restricted funds fvnds Totsl 2024 Total 2023 Irestaled) CHARJTABLE ACTMTIES Misslonary and charitable giving (see also note 5) Mission Grants paid out 16,624 132,750 149,374 75,629 30,000 105,629 92,253 162,750 255,003 120,184 36,695 156,879 Church events Worship costs Community events Community area trading cosls Depreciation on AV 4uiprrent 23,605 345,390 20,035 28,852 417,882 23,605 366,850 20,120 28,852 439,427 12,036 267,817 20,117 16,413 316,383 21,460 85 21,545 Ministy Fees paid to DicKese 204,472 204,472 204,472 204,472 190,851 190,851 Salary, Fensions, housing of youth & pastoral ￿￿rkerS Staff training Depreciation on clergy housiThJ 406,447 11,771 10,892 429,110 419,022 825,469 11,771 10,892 848,132 944,145 21,835 11,346 977,326 419,022 Church and Centre running expensas Church njnning costs Facilities costs Insuran Building development Depreciation on leasehold improvements 77,231 181,464 1,261 55,496 61,215 376,667 13 77,244 181,464 1,261 55,4% 61,215 376,680 84,689 162,582 4,099 28,550 61,215 341,135 13 Support Costs Office costs Subscriptions Bank charges Travel costs Fundraising Accountancy Interest on loans Depreciation on fixiures and fittings n,216 2,821 18.785 2,781 3,275 10,692 50,321 24,485 185,376 72,216 2,821 19,410 2,781 3,275 10,692 50,321 24,485 186,001 50,704 2,969 13,321 11,718 8,283 9,732 64,615 11,974 173,316 625 625 TOTAL EXPENDITURE 1.762,881 546,834 2,309,715 2,155,890 Induded within accountancy abjve are ani)unts due to the a￿lt0￿ in ￿lation to audit of £10,32012023.' £9,6CK)I. 21 ST LUKES PCC, EDGBASTON, BIRMINGHAM NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 (continued) 5 GRANTS Grants and donations totalled £162,750 (2023: £36.695) and ￿ere all pamj by the tharity. The followiThJ donations V￿re maje io institulions and totalled more than £1,000: Anchor Churth Bimingham Christchurch Summerfield Christians Against Poverty Debt Centre Elarn Elayos Embra￿ Bimingham Home for Good & Safe Families Karis Neighbour Scheme Kids Club Kampala Lighthouse Church Mannterg Campaign Newbigin Community Trust OFen Dcors Urban Devotion £15,CNJO £15, £10,OC £30,OCK) £s,o £5,000 £10,ClJO £5,ClJO £5,C £15,OC £2,5CXJ £5,000 £20,Crf)O £20,CK)O 6 STAFF COSTS Number of efflployees The average number of employees during the year was 40 (2023.. 49). Slaff costs relate to all direct and indirect staff costs. Employment costs 2024 2023 Irestatedl Wages and salaries Social security costs Other Fension costs 718,558 52,689 19,974 791,220 862,143 58,710 23,292 944,145 Dunng the year two memters of key managerrEnt rersonnel ￿ere paid remuneration and tenefits totalling £55,926 (2023.. four ￿EMberS paid a total of £117,8721- There ￿ere no employees whose annual remuneralion vrds £60,0￿ or more. Pay for Key ManagerrEnt Personnel is set by memters of the Standing Committee *ithin aJre&l salary bands approv&J by the PCC for all See note 16 for disclosure of pay￿Ents mJJe to ￿lated parties. 22 ST LUKES PCC, EDGBASTON, BIRMINGHAM NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 (continued) 7 RESTATEMENT The charity owns 100% of the issued share capital of Gas Street MUS￿ Limited, a company incorKM)rated in England and Wales {company numter.. 129952941. The company was dissolv￿￿ on 14 January 2025. The subsidiary had no aLXivty during trE year and is immaterial in size. As a ￿SuIt, Consolidat￿ a(y))unts have nol l￿en prepared. The wior year SOFA has reststed to refiect the entity rather than group acojunts. The impact on total fund balances at 1 Jaunary 2023 is an increase of£40,443 from £1,321,617 to £1,362,CISO and at 31 D￿mt£r2023 an increase of£385 from £1,151,711 to £1,152,096. 8 TANGIBLE ASSETS AV Fixtures & Fmlngs Charity Totsl COST At beginning of year Additions DisFx)sals At end of year 680,759 831,056 166,657 15,495 (51,0701 131,082 88.726 41.326 1,767,198 56,821 (51,0701 1,772,949 680,759 831,056 130,052 DEPRECIATION At beginning of year Charge for year DispJsals At end of year 11,346 10,892 259,032 61,215 78,758 28,851 {51,070) 56,539 51,609 24,486 400,745 125,444 151,070} 475,119 22,238 320,247 76,095 NET BOOK VALUE At end of year At tEginning of year 658,521 669,413 510,809 572,024 74,543 87,899 53,957 37,117 1,297,830 1,366,453 All fixed assets bebng to the tharity. 9 FIXED ASSET INVESTMENTS The gains shovm in the SOFA for 2023 relate to a gain on the sale of a fix￿ asset investment proFerty and gain on CCLA investments also sold wthin that year. Investment in subsidiary undertakings at 1 January 2024 and 31 D￿rnber 2024 The charity owns 100% of the issued share capttal of Gas Street Music Limrt&J, a LY)mpany incorForat&J in England and Wales (company numkr. 129952941. The LX)mpany ¥YdS dissolved on 14 January 2025. 23 ST LUKES PCC, EDGBASTON, BIRMINGHAM NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 (continued) 10 DEBTORS 2024 2023 Trade debtors Gfft aid tax recoverable Prepayments and accrued In(X)￿ Other debtors Amounts due from subsidiary undertaking 83,518 19,450 27,833 37,045 2,910 20,372 22,832 157,395 83,543 11 CREDITORS.. amunls falling due Viithin one year 2024 2023 Di0￿san loans Mortgage A￿rualS Other creditofs Deferred income 66,363 7,338 15,524 79,942 8,758 177,925 66,363 6,980 9,598 37,909 47,386 168,236 12 CREDITORS.. amounts falling due after one year 2024 2023 DI0￿$an loan Mortgage 530,128 238,051 768,179 231,914 696,462 In 2019 the PCC was party to the leasehokl agreement for the Gas Street site and I￿k on a loan from the Dic￿Se in reSp￿t of the refurbishrrEnt costs of £730,000 bearing interest at 3.5% atJ)ve base. The rate Wds renegotiat￿1 to 0.5% atrfjve base, teginning in January 2024. Repayments Commen￿ in September 2022, *rth the a￿Unt due in less than 1 year shovffl in Diocesan loans in Note 11. The mortgage is for a proFErty purchased in the prior year. This loan is s￿red on the prnr£ty to ￿lch it relates. Of the atove amount, £396,844 is due in more than 5 year5 (2023". £471.CKJ7 in ffK)re than 5 years). 24 ST LUKES PCC, EDGBASTON, BIRMINGHAM NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 {continued) 13 FUNDS The restiicted funds are establish&J for foll0v￿ng purposes.. St Martins Trustees To suprort staff (x)sts. These a￿ o)IleciK)ns for SFHific extemal ￿USe5 and projects. Funds from a colkntion *there the first £30,IXQ was pledged to fund ￿fjrk in the Middle East. Strateglc Development Fund . GS South This represents funding by the Bimingham Dic#2se Board of Finan￿ to cover costs of running the Gas Street South l￿ngregatIOn. Collections Middle East Stratsgi¢ Development Fund . GS Longbrid This represents funding by the Bimiingham Dicrfxe Board of Finan￿ lo cover costs of running the Gas Street LongbrKlge congr8Jation. Love Your Neighbour. Ukraine Funding fiDm 'Church Revitalisation Trust, spifically for S￿ndIng on activities and supp)rt for Ukrainian refugees. Lov• Your Neighbour. Gas Street Funds for the Love Your NeKJhb)ur {'LYN'I Ix)mmunity pro1￿t. This includes funding suppjrt from the Church Revitalisation TNst for SFending on all LYN activity, as well as funds t>)Ilecled by Gas Streel Church for this purpjse. The transfer in to this fund represents part of the match-funding (required by the grant for this purwsel not covered by restricted donation Inco￿￿. Love Your Neighbour. Kids This represents grants receNed 'Street Games UK to fund summer clubs for primary schcol aJed children. Love Your Neighbour- Food This represents a grant from 81￿1￿Jharn Cty Council under their.Wa￿ wel￿)me. scheme. The designatgj fvnds a￿ established for Ihe following purtx)ses'. Repair fund To fund repair v￿1￿$ requir8J on the church building. Each year, the church aims to dedicate at least 10% of its giving for missional purp)ses. Grants a￿ given to extemal organisations and to Missional Partners which are approved each year by the PCC in line ￿fjth mission principles & values as set out in Ihe Missional Partnerships pK)licH. One￿ff grfts may te given to other Ofganisations that a￿ in line with the prinaples & values at the Stsnding Committee's digLrets'on. Missions fund Middleton Hall Road This represents the carrying value of ts propErty t#)ught in the prior year, less the outstanding rtgage on it. Orchard seed funding The church intends to sel up The Orthard as its own organisalion. £25,000 was set aside in 2023 to f￿litate this, and has teen paid ￿s5 to the new charity in Febnjary 2025. Worship For Everyone $eed funding The thurth intended to supw)rt the ministry of Worship for Everyone when it vrds planned to established wthin an inde￿ndent chanty, and set aside £25,CMJO during 2023 to facilitate this. In event, Worship for Everyone vras instituted as a Ltd company and the PCC of St Luke's therefo￿ resolved to retum the fvnds to the Mission Fund. Love Your Neighbour {designated) A fuTrl set aside tovRrds match-fiJrKling Love Your Neightx)ur grants in 2024. 25 ST LUKES PCC, EDGBASTON, BIRMINGHAM NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 (continued) 14 MOVEMENT IN FUNDS Balance at 1 January 2024 Transfers Balance at between 31 December fvnds 2024 Income Expenditure Restricted funds Sl Martins Trusiees Collections Middle East Strategic Development FurKI - GS South Strategic Developmenl Fund - GS Longbn'dge Love Your Neightrx)ur- Ukraine Love Your NeightK)ur- Gas Street Love Your NeighÈour- Kids Love Your NeightK)ur- Fooj 30,393 (30,393) (16,658} 30,0 (30,000) 83,9C (83,906) 227.8￿ (227,8901 {7,1121 (130,9771 (14,8981 15,000) 16.658 15,154 84,804 5,062 133,474 82,307 19, 172,398 479,456 (546,8341 105,020 Designated funds Repair fund Missions fund Middleton Hall Road Orchard seed funding Worship for Everyone Se￿ funding Love Your Neighbjur (designated) 52,880 (20,1861 {132,7501 (29,123) 32,694 17,261 419,269 25,000 150,011 24,010 424,382 25,OC 25,LKK) 36,346 125,0001 36,346 563,608 (182,059) 149,021 530,570 Other unrestricted funds 416,090 1,963,269 (1,580,822) (149,021) 649,516 Totsl funds 1,152,096 2,442,725 {2,309,715 1,285,105 26 ST LUKES PCC, EDGBASTON, BIRMINGHAM NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 (continued) 15 ANALYSIS OF NET ASSETS BETWEEN FUNDS Fund balan￿S as at 31 Decemter 2024 are ￿presented by.. Other Restricted Designated unrestrlctsd fvnds nds funds Total 2024 Tangible fixed assets Fixed asset inveslment Current assets Current liabilities Long lemi liabilities 658,521 639,309 1,297,830 105,020 645,341 861,662 (170,587) {177,925) (464,548) {696,462) 649,516 1,285,106 17,338) (231,914) 530,570 105,020 Fund balan￿$ as at 31 Decemter 2023 are represented by.. Other Restricted Designated unrestricted funds funds funds Total 2023 Tangible fixed assets Fixed asset investment Current assets Current liabilities Long temi liabilities 669,413 697,040 1,366,453 172,398 139,226 410,433 722,057 (6,9801 1161,256) {168,2361 1238,0511 1530,1281 (768,1791 563,608 416,0gJ 1,152,096 172.398 27 ST LUKES PCC, EDGBASTON, BIRMINGHAM NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 (continued) 16 RELATED PARTY TRANSACTIONS During the year IMElve trustees ￿re reimbursed expenses lotalling £3,43912023". nine trustees tolalling £2,894} for reimbursable travel costs, refreshments and purchases for the charity. trustees [￿1V&￿ grfts totalling £2,470 {2023: one trustee received £2,0￿). During the year relatives of four tnjstees Y￿re reimbur59J expenses totalling £2,84312023.' £nil). During the year trustees ¥￿￿ paid salary and tEnefits totalling £19.720 (2023.. £26,593 paid to tw) tfusteesl. This was not related to their role as trustees. During the year relatives of four Injstees ￿ere paid salary arKI LEnefits iotalling £48,249 {2023.' five relatives paid £95,216). During the year relatives of tTUStees vEre paid £13,230 for provKJirvJ ￿nSuRancY Servi￿ lo the tharity12023.' £nil). Urban Devotion, a charity of whith H Miller, tNstee, is also a trustee. was paid donations totalling £20,050 by the charity {2023'. £nill. King's Cross Church, a charity of which F Harper, Irusiee, is also a trustee. VRS paid a tolal of £6,099 by the charity for gcrf)ds and seN1￿, plus a donation of £50012023.. £nil}. Christchurch Summerfield, a chanty of which K str￿k, trustee. is also a trust*. was paid donations totalling £15,0(HJ by the charity12023'. £nill. Dreambridge Limiled, Irajing as Worship for Everyone, a company of vthich N Drake, trustee. is a director, VRS paid £3,392 for goods and SerVi￿(2023.. £nil). 17 COMMITMENTS Al the balan￿ sheet date the charity had remaining commitrrEnts under oFerating Èases of £2,003 (2023.. £3,299). 28 ST LUKES PCC, EDGBASTON, BIRMINGHAM NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 (continued) 18 COMPAFIATIVE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestricted Restricted Total funds funds 2023 (restated) {restated) (restatsd INCOME Donations and legacies Charitsble activities Trading activilies Investmenls Other income 1,128,524 261,721 65,124 7.LX11 198,331 61,513 1,190,037 261,721 80,743 7,CNJ1 381,157 15,619 182,826 Totsl income 1,660,701 259,958 1,920,659 EXPENDITURE Charitable &tiwties 1,￿)1,140 254,750 2,155,890 Totsl expenditure 1,901,140 254,750 2,155,890 NET INCOME BEFORE GAINS AND LOSSES {240.439} 5,208 (235,231) Investment gains and losses Gain on revaluation of fixed asset investments 18,474 6,793 18,474 6,793 NET INCOME BEFORE TRANSFERS (215,172) 5,208 1209,W} Transfers be￿n funds {9,370) 9,370 NET MOVEMENT IN FUNDS (224,542) 14,578 (209,9641 FUND BALANCES AT 1 JANUARY 2023 1,204,240 157,820 1,362,060 FUND BALANCES AT 31 DECEMBER 2023 979,698 172,398 1,152,096 29 ST LUKES PCC, EDGBASTON, BIRMINGHAM NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 (continued) 19 COMPARATIVE MOVEMENT IN FUNDS Balance at 1 January 2023 Gain I (loss) on Income Expendiiure Investments Transfers Balance at between 31 December fvnds 2023 Restricted fvnds St Martins Trustees Collections Love Your Neight()Uf - Kids Love Your Neighb)ur- Ukraine Love Your NeIgh￿ur- Gas Street Worship Central 26,299 17,092 9,840 10,698 196,029 (26,2991 (434) 19,8401 (23,620) {194,557) 16,658 35,188 87,￿2 35,630 22,266 133,474 45,000 (35,6301 157,820 259,958 (254,750) 9,370 172,398 Designatod funds Assislant Clergy Repair fund Missions fund Capital fund Middleton Hall Road Orchard seed funding Worship for All seed funding Love Your Neighb)ur Idesignatedl 28,325 72,019 73,717 21,975 (28,3251 (19,1391 (36,491) 52,880 137,226) (21,9751 424,382 25,CNJO 25,C4JO 36,346 424,382 25,000 25,000 36,346 196,036 (83,955) 451,527 563,608 Capital revaluation fund 238,025 6,793 {244,818} Other unrestricted fvnds 770,179 1,660,701 (1,766,751) 18,474 1266,513) 416,090 Totsl funds 1,362,060 1,920,659 (2,105,456) 25,267 150,4341 1,152,096 30