OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2023-12-31-accounts

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF GREAT ST BARTHOLOMEW

WEST SMITHFIELD IN THE CITY OF LONDON

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

PAROCHIAL CHURCH COUNCIL OF GREAT ST BARTHOLOMEW

PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

CONTENTS

Page
Annual Report of the Parochial Church Council 1
Independent Examiner's Report 10
Statement of Financial Activities 12
Balance Sheet 13
Statement of Cash Flows 14
Notes to the Financial Statements 15

1

PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

THE PARISH OF GREAT ST BARTHOLOMEW, LONDON EC1A 7JQ

Rector

The Reverend Marcus Walker

The Hospitaller

The Reverend Evan McWilliams (until 30 April 2023)

Assistant Priest

The Reverend Taylor Wilton-Morgan (from 4 June 2023)

Churchwardens

Harry Cowd Charles Spanton

Parish Clerk

Roy Sully (SBG) Paul Simmons (SBL)

Director of Music

Rupert Gough

Surveyor to the Fabric

Martin Ashley

Address

SBG Parish Office, Church House, Cloth Fair, London, EC1A 7JQ

Bankers

HSBC, 31 Holborn, London, EC1N 2HR

Independent Examiner

J Tyrrell

RPG Crouch Chapman LLP, 40 Gracechurch Street, London EC3V 0BT

Aim and Purposes

The Parochial Church Council is a body corporate and a registered charity (no 1163024) with effect from 5 August 2015 following the Pastoral Scheme of the Church Commissioners, effective from 1 June 2015, which united the parishes of St Bartholomew

2

PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

the Great and St Bartholomew the Less in a single Benefice and Parish. Its primary functions (as defined by the Synodical Government Measure 1969) are consultation with the Rector on matters of general concern and importance to the parish and co-operation with the Rector in ‘promoting in the parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical.’ It has overall responsibility for the financial affairs of the Church and for the care, maintenance, preservation and insurance of the fabric of the church and of its goods and ornaments. It has power to frame a budget, raise, collect and allocate moneys, levy and collect a voluntary church rate, and to employ staff.

PCC members are elected by the Annual Parochial Church Meeting. The Parish Office facilitates the induction of new members.

Membership

Members of the PCC fall into three categories—ex officio, elected and co-opted. The Rector and Churchwardens, and the representatives of the Parish on the Deanery Synod, are ex officio members. Co-options are for one year at a time.

During the period covered by this report, the PCC comprised the following: Ex officio Details

The Rector*

Revd Evan McWilliams Hospitaller until 30 April 2023 Revd Taylor Wilton-Morgan Assistant Priest from 4th June 2023 Harry Cowd * Churchwarden Charles Spanton * Churchwarden Christin Cockerton Deanery Synod (2026) Timothy Foot * Deanery Synod (2026) Vice Chairman Patrick Hardy * Deanery Synod (2026) Joseph Hutchinson * Deanery Synod (2026 Nicholas Riddle* Deanery Synod (2026)

Elected Details

Amelia Braddick Re-election due 2024 Tracey Braddick * Deputy Churchwarden; re-election due 2024 Paul Carter Re-election due 2026 Jack Falkingham Treasurer until Jan 2024 re-election due 2024 Sarah Harrison Re-election due 2024 Glynn Huaraka Deputy Churchwarden; Re-election due 2026 Jonathan Johnson Re-election due 2025 Ian Kelly* Re-election due 2025

3

PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

Sarah Kelsey Re-election due 2026 Christopher Marland * Re-election due 2026 Henry Mitson Re-election due 2026 Charles Pitt * Re-election due 2024

Paul Simmons Re-election due 2025 Sophy Tuck Re-election due 2025 Elena Unger Re-election due 2025

Co-opted Details

Jack Carrington * 2024 Roy Sully 2024

* indicates members of the Standing Committee at any point in the year.

Names in Bold are of members in office at the end of 2023.

Objectives and Activities

Our charitable purpose is the promotion within the parish of the whole mission of the Church. This includes specifically religious activities, the relief of poverty, the promotion of the arts, and the conservation of our heritage. During 2023 the PCC, in accordance with its Fundamental Policies, has ensured the provision of:

purposes.

It has also expended resources on:

Achievements and Performance

2023 was the 900th anniversary year of St Bartholomew the Great. There were events spanning the whole year, with a particular focus on March 2023, where the anniversary date itself (March 25) was marked with a 500 person banquet at the Guildhall, a service celebrated by the Bishop of London for the Church and Hospital and services on Radio 3 and Radio 4.

4

PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

Around this we also had a very well regarded contemporary art exhibition, “ELEVEN TWENTY THREE”, curated by our Artist in Residence Elena Unger in April, and a Music Festival in September. Four new musical compositions were commissioned: a mass setting by Rupert Gough (The Great Service), an anthem by John Rutter, an Evensong setting by William Lovelady, and a setting of John Betjeman’s poem “St Bartholomew’s Hospital” (first line: “The Ghost of Rahere still walks in Barts”) by Alison Willis, following a competition for compositions. Barts Fair was restored by the City of London and we responded by restoring two traditions: one, that the fair was opened by the Lord Mayor cutting a ribbon on Cloth Fair (and having a ribbon designed by Damien Hirst); the second was restoring the tradition of a Public Disputation by holding a debate on the topic “This House believes that the love of money is the root of the nation’s evils”. The speakers included Michael Gove MP, Aaron Bastani, Eddie Dempsey, Alan Smith (the First Church Estates Commissioner). Bim Afolami MP, and Giles Fraser. The debate was chaired by the Bishop of London and the church was filled to the rafters by people who were able to get stuck into the debate itself. Tracey Braddick, as chair of the 900[th] Anniversary Committee, needs particular praise for all her work making this happen.

In short, over that year we increased our profile as a church hugely. We also, by God’s grace, saw a significant increase in numbers attending services at St Bart’s, with attendance each Sunday morning being over 100 consistently and reaching 150 regularly. Christmas services were more popular than ever and we found ourselves having to turn people away from carol services. A major project for 2024 is to discern how the church can respond to the exciting challenge of more people attending, and how our processes can develop accordingly.

Alongside the celebrations was a fundraising campaign. A part of that has been working out how best to use the land we have to serve the church and its community better, another has been to raise money for all of the essential repairs highlighted during the two churches’ quinquennial inspections. The second has been, financially, a great success with over £1,000,000 given or pledged towards these essential repairs. Particular praise needs to go to Roy Sully for his sterling work building up grants towards these projects. By April 2024, we see the fruits of half of this work being done on St Bartholomew the Great, while works on St Bartholomew the Less are primed and ready to go, pending permission from the Charity Commission for one grant maker to make their grant.

The wider projects which fell under the remit of the 900[th] Anniversary Campaign had to be seriously revised after it was clear the National Lottery wouldn’t countenance the ambitious original project. That process of revision included switching to our Quinquennial Architect, Martin Ashley, and exploring how best to use the land we already have planning permission for. The largest question currently looming for the Church is what to do with the 1989 block which includes the loos, kitchen, and sacristy as it has

5

PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

been condemned by the architects and needs, one way or another, to be completely replaced.

The danger of not moving fast enough on repairs can be seen in the disaster that was the breakdown of the boiler at the end of 2022. The beginning of 2023 was not a warm one for St Bart’s and installing a new boiler, and navigating the Church of England’s new process for doing so, cost us £70,000. This, in one swoop, explains the deficit at the end of the 2023 year. This would have been balanced out by filming had there not been writers’ and actors’ strikes but there was, so we were not able to enjoy the level of financial support from filming which we had received in previous years.

We did, however, see a significant increase in the general business activities around church. Adding together increases in lettings and increases in “charitable activities” (weddings, funerals, livery services etc), income increased by £23,733 last year from the year before. This is a significant amount and is partly down to the hard work of the team in the office: Rose Murphy, Susy Rodriguez, Phillip Lothe, and Gordon Furry. This is down to their hard work – and a fruit of the increase in the size of the team and a complete reordering of their responsibilities. It is worth remembering that Sunday does not pay for Sunday; the amount we bring in from donations on a Sunday and from other regular donations does not cover the cost of keeping the church open and the religious activities of Sunday. It is everything else that we do that keeps the core mission and ministry of the church going. Our thanks to the then-Treasurer, Jack Falkingham, and to Sarah Kelsey for their stewardship of the accounts. As his three years as Treasurer comes to an end, a particular thank-you to Jack for all of his hard work and dedication, especially as the church pulled back from Covid and turbocharged its mission.

And that mission is going well, which is surprising and heartening to us all. Over the year, the numbers attending services have increased considerably, which reflects the hard work of everyone on a Sunday to make our services somewhere more and more people feel they want to be. The sidesmen, the servers, the helpers at coffee – these are the people who make Sunday happen. We have also developed new aspects of our mission: a retreat for young adults, which followed a monastic pattern of prayer across the day in southern France; and a pilgrimage to Walsingham for the whole community led by Fr Taylor, building on his knowledge of Norfolk.

Fr Taylor Wilton-Morgan joined us in June, following Fr Evan McWilliams’ departure in April. The position of Hospitaller, as originally conceived – 50% in the hospital and 50% in the parish – proved to be such a success in both institutions that it became clear that we needed a full-time priest in each role. As such the Hospital has appointed a Hospitaller, whom we help fund and who assists at the Family Service and at Tuesday’s Hospital Eucharist. We have also appointed a full time Assistant Priest, Fr Taylor, and this has

6

PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

proved a great success. This has greatly increased the capacity of the clergy to engage with the congregation as it grows and to ensure that services are fully resourced.

Thank you to everyone who made our 900[th] Anniversary Year a success, with a special mention of the Church Wardens, Charles Spanton, Roy Sully, and Harry Cowd.

Financial Review

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective from 1 January 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, Church Accounting Regulations 2006 and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective from 1 January 2019.

As set out in the statement of financial activities, the PCC ended the year with a deficit of £66,431 on our unrestricted funds. It is the view of the PCC that this does not constitute a structural deficit, as this an uncommonly difficult year for two reasons: (a) the replacement of the boiler, in total, cost £63.820 – not including the cost of “shopping around” for quotes – and (b) the actors and writers’ strikes in the United States, which meant that one of the biggest sources of income for the church was temporarily shut off.

In terms of changes in the church’s earnings compared to the previous year, income from:

Reserves policy

The PCC has a policy to maintain unrestricted reserves at a level of £100,000 to cover unplanned emergency repair work and other expenditure. The unrestricted reserves as at 31 December 2023 stood at £219,205. The PCC is committed to monitoring expenditure and identifying further cost reductions wherever possible in the forthcoming years as well as continuing to develop new income sources.

7

PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

Going Concern Policy

Having assessed the Charities' financial circumstances the trustees have a reasonable expectation that the charity has adequate resources to continue its operations for the foreseeable future.

Fundraising

All fundraising activities have been coordinated from the Parish Office. We have sought to raise funds through the Parish Stewardship scheme and by launching appeals for specific purposes.

During the year, the church did not receive any complaints about its fundraising activities and practices.

Risk assessment

The PCC’s risk assessment and management policy has again been reviewed during the year as have its insurances. Risks are considered in terms of the wider environment in which the PCC operates. The financial climate, society and its attitudes, the natural environment and changes in the law, technology and knowledge will affect the types and impact of the risks to which the PCC is exposed.

Safeguarding policy

The PCC has complied with the duty under section 5 of the Safeguarding and Clergy Discipline Measure 2016, in relation to having due regard to the House of Bishops’ guidance on safeguarding children and vulnerable adults.

Investment policy

Funds held for the short term are invested in CBF Church of England deposits; and for longer term in CBF Church of England investment funds.

Trustees’ Statement of Responsibility in Relation to the Accounts

The trustees are responsible for preparing the Trustees’ Annual Report and the financial

8

PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales 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 and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

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

On behalf of the PCC

(Chairman)

April 2024

9

PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

INDEPENDENT EXAMINER’S REPORT

To The Parochial Church Council of Great Saint Bartholomew

I report on the accounts of the Parochial Church Council of Great Saint Bartholomew for the year ended 31[st] December 2023.

This report is made solely to the charity’s Trustees, as a body, in accordance with section 145 of the Charities Act 2011 and regulations made under section 154 of that Act. My work has been undertaken so that I might state to the charity’s Trustees those matters I am required to state to them in an Independent Examiner’s Report and for no other purposes. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s Trustees as a body, for my work or for this report.

Respective Responsibilities of Trustees and Examiner

The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (“the Charities Act”) and that an independent examination is needed. The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales.

It is my responsibility to:

• examine the accounts under section 145 of the Charities Act,

• to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and

• to state whether particular matters have come to my attention

Basis of Independent Examiner’s Report

My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report

10

PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

is limited to those matters set out in the statement below.

Independent Examiner’s Statement

In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:

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

Signed: Date:

JEREMY TYRRELL

RPG CROUCH CHAPMAN LLP Chartered Accountants

40 Gracechurch Street London EC3V 0BT

11

PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted
funds		 Restricted
funds		 Total funds
2023		 Total funds
2022
Note £ £ £ £
Incoming resources
Donations and legacies 3 293,483 297,139 590,622 466,849
Charitable activities 4 222,175 - 222,175 333,837
Tradingactivities 5 124,000 41,188 165,188 32,937
Income from investments 6 5,040 758 5,798 2,390
Total incoming resources 644,698 339,085 983,783 836,013
Resources expended
Charitable activities 7 624,955 186,319 811,274 659,409
Tradingactivities 8 88,982 30,589 119,571 16,375
Total resources expended 713,937 216,908 930,845 675,784
Net (gains) / losses on
investments		 13 (2,808) (1,482) (4,290) 9,553
Net incoming/(outgoing)
resources		 (66,431) 123,659 57,228 150,676
Transfers between funds - - - -
Net movement in funds (66,431) 123,659 57,228 150,676
Balances brought forward at
1 January2023		 285,636 130,721 416,357 265,681
Balances carried forward
at 31 December 2023		 219,205 254,380 473,585 416,357

All recognised gains and losses have been included in the Statement of Financial Activities and the amounts included are derived entirely from continuing activities.

12

PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

BALANCE SHEET AS OF 31 DECEMBER 2023

Note 2023 2022
£ £
Fixed assets
Tangible fixed assets 11 23,201 31,857
Investments 12 71,954 67,006
95,155 98,863
Current assets
Stock 13 9,376 12,686
Debtors 14 87,922 101,360
Short term deposits 32,523 30,458
Cash at bank and in hand 422,503 375,565
552,324 520,069
Creditors due within oneyear 15(a) (108,894) (87,575)
Net current assets 443,430 432,494
Creditors due after oneyear 15(b) (65,000) (115,000)
Net assets 473,585 416,357
Funds
Unrestricted funds 219,205 285,636
Restricted funds 19 254,380 130,721
473,585 416,357

The financial statements on pages 12 to 31 were approved by the Parochial Church Council on 30 April 2024 and signed on its behalf by:

____ _______ Marcus Walker, Christopher Marland, Rector Treasurer

13

PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

STATEMENT OF CASH FLOWS

Note 2023 2022
£ £
Cash used in operating activities 22 46,445 169,403
Cash flows from investing activities
Interest and dividend income 5,798 2,390
Disposal of investments - -
Acquisition of investments (658) (528)
Purchase of tangible fixed assets (2,582) (23,301)
Cash provided by (used in) investing
activities		 2,558 (21,439)
Increase/(decrease) in cash & cash
equivalents inyear		 49,003 147,964
Cash and cash equivalents at the beginning of
theyear		 406,023 258,059
Total cash and cash equivalents at the end of
theyear		 455,026 406,023

14

PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

1. Summary of significant accounting policies

a) General information and basis of preparation

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, Church Accounting Regulations 2006 and UK Generally Accepted Practice as it applies from 1 January 2015.

The financial statements have been prepared on a going concern basis under the historical cost convention except for the revaluation of investment assets, which are shown at market value. The financial statements are prepared in sterling and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

b) Funds

Unrestricted funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application to the general purposes of the PCC. Designated funds comprise unrestricted funds that have been set aside by the PCC for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are those which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the PCC for particular purposes. The aim and use of each restricted fund is set out in the notes to the financial statements.

The accounts do not include the accounts of church groups that owe their main affiliation to another body nor of those that are informal gatherings of Church members.

c) Income recognition

Income from donations including open plate collections at services is recognised on receipt.

15

PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

Planned giving receivable under Gift Aid is recognised only when received and the related income tax recoverable is accrued.

Legacy income is recognised when the PCC becomes aware that probate has been granted, there are sufficient assets in the estate to pay the legacy and that any conditions attached to the legacy are either in the control of the PCC or have already been met. On occasion legacies will be notified where it is not possible to measure the amount expected to be distributed with sufficient reliability. On these occasions, the legacy is treated as a contingent asset and disclosed.

Income from other charitable activities such as weddings, memorial services, livery services etc. is recognised at the date of the service.

Income from trading activities includes income from fundraising events and trading activities to raise funds for the PCC. Income is received in exchange for supplying goods and services and is recognised when entitlement has occurred.

Rental income from the letting of church premises for concerts, filming and other events is recognised when the rental is due.

Interest entitlements are accounted for as they accrue.

d) Expenditure recognition

All expenditure is accounted for on an accruals basis. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:

e) Fixed assets

Consecrated land and buildings and moveable church furnishings

Consecrated and beneficed property is excluded from the accounts by Section 10(2)(a) of the Charities Act 2011.

16

PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

Movable church furnishings held by the Rector and Churchwardens on special trust for the PCC, and which require a faculty for disposal, are accounted for as inalienable property unless consecrated. For inalienable property acquired prior to 31 December 2000 there is insufficient cost information available and therefore such assets are not valued in the accounts. Items acquired since 1 January 2001 are capitalised and depreciated in the accounts over their expected useful economic lives on a straight-line basis.

Cloister, organ, computer and other equipment

Equipment used within the church premises is depreciated on a straight-line basis over 10, 5 and 3 years, depending on the nature of the equipment. Small items of equipment are written off when the asset is acquired.

f) Investments

Investments are measured at fair value at each balance sheet date with changes in fair value recognised in 'net gains / losses on investments' in the SoFA.

g) Stocks

Stock is included at the lower of cost or net realisable value after making due allowance for any obsolete or slow-moving items.

h) Financial instruments

The church only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

i) Debtors

Trade and other debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid.

j) Short term deposits

Short term deposits include cash held on deposit either with the CBF Church of England Funds or at the bank.

17

PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

k) Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

l) Taxation

The PCC meets the definition of a charity for UK tax purposes and is therefore not subject to tax on its income providing it is applied for charitable purposes.

m) Critical accounting estimates and areas of judgement

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. However, the trustees are of the opinion that there are no estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

n) Going Concern

The PCC consider that there are no material uncertainties about the ability to continue as a going concern.

2. Legal status of the PCC

The PCC is a body corporate under the provisions of the Parochial Church Councils (Powers) Measure 1956.

18

PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

3. Income from donations and legacies

2023
£		 2023
£		 2023
£		 2022
£		 2022
£		 2022
£
Unrestricted Restricted Total Unrestricted Restricted Total
Stewardship and other planned giving 99,877 1,320 101,197 72,739 1,800 74,539
Donations–given in church and
on-line		 141,401 - 141,401 140,857 - 140,857
Sundry donations 14,331 67,822 82,153 15,170 91,983 107,153
Income tax recoverable 34,250 5,510 39,760 29,578 21,648 51,226
Grants 3,624 96,987 100,611 7,165 85,909 93,074
Legacies - 125,500 125,500 - - -
293,483 297,139 590,622 265,509 201,340 466,849

4. Income from charitable activities

Income from weddings, blessings,
funerals, memorials, livery, and other
services
Parish fees
Concert lettings, films and other
events		 2023 2023 2023 2022 2022 2022
£ £ £ £ £ £
Unrestricted Restricted Total Unrestricted Restricted Total
68,423 - 68,423 44,690 - 44,690
5,738 - 5,738 2,864 - 2,864
148,014 - 148,014 277,291 - 277,291
222,175 - 222,175 324,845 - 324,845

5. Income from trading activities

2023 2023 2023 2022 2022
£ £ £ £ £
Unrestricted Restricted Total Unrestricted Restricted
Admission fees &guided tours 4,307 - 4,307 820 -
Bookstall 18,802 1,300 20,102 21,763 -
Cloister café 28,474 820 29,294 10,354 -
Fundraisingevents 72,417 39,068 111,485 8,992 -
124,000 41,188 165,188 41,929 -

19

PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

6. Income from investments

2023 2023 2023 2022 2022 2022
£ £ £ £ £ £
Unrestricted Restricted Total Unrestricted Restricted Total
Interest on cash deposits 3,166 100 3,266 143 100 243
Interest and dividends on
investments		 1,874 658 2,532 1,619 528 2,147
5,040 758 5,798 1,762 628 2,390

7. Resources expended on charitable activities

2023 2023 2023 2022 2022 2022
£ £ £ £ £ £
Unrestricted Restricted Total Unrestricted Restricted Total
Ministry:
Common Fund and other stipend
costs		 112,980 - 112,980 85,200 - 85,200
Other costs of liturgical services 18,887 - 18,887 13,400 - 13,400
Other clergyrelated costs 10,345 34,387 44,732 4,117 59,032 63,149
Costs directly attributable to
charitable activities		 5,031 - 5,031 1,404 - 1,404
Music costs–Sundays & other
parish services		 110,928 2,404 113,332 105,974 4,328 110,302
Church running expenses, repairs
& maintenance		 99,776 20,583 120,359 52,370 23,126 75,496
Parish Office costs: -
Personnel costs 145,436 - 145,436 127,686 - 127,686
Administrative expenses 45,294 11,366 56,660 45,176 2,151 47,327
Governance costs–Accountancy
fees		 6,859 - 6,859 2,682 - 2,682
Legal andprofessional 21,075 112,767 133,842 39,864 72,090 111,954
Bank charges and interest 6,453 149 6,602 5,575 130 5,705
Depreciation and loss on disposal 7,788 3,450 11,238 5,499 1,538 7,037
100 Clubprize draw - 400 400 - 400 400
900th anniversary events
expenditure		 33,429 - 33,429
Charitable donations 674 813 1,487 - 2,171 2,171
624,955 186,319 811,274 488,947 164,966 653,913

20

PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

8. Resources expended on trading activities

2023 2023 2023 2022 2022 2022
£ £ £ £ £ £
Unrestricted Restricted Total Unrestricted Restricted Total
Bookstall costs 8,829 8,829 9,789 - 9,789
Cloister café costs 12,093 252 12,345 6,586 - 6,586
Fundraisingevents 68,060 30,337 98,397 5,496 - 5,496
88,982 30,589 119,571 21,871 - 21,871

9. Analysis of staff costs, trustee remuneration and expenses

2023 2022
£ £
Salaries and wages 133,883 119,085
Social securitycosts 8,465 6,443
Pension contributions 3,087 2,158
145,435 127,686

No employees had employee benefits in excess of £60,000 (2022: nil)

The PCC trustees were not paid or received any other benefits from employment with the PCC or its subsidiary in the year (2022: £nil) neither were they reimbursed any expenses during the year (2022: £nil)

The following payments were made to members of the PCC for professional services supplied to the PCC: Mrs S Kelsey £3,640 for bookkeeping services (2022: £nil)

21

PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

10. Staff numbers

The average monthly headcount was 4 staff (2022: 4 staff) and the average monthly number of full-time equivalent employees (including casual and part time staff) during the year was as follows:

2023 2022
number number
Charitable activities 3.5 3.5
Tradingactivities 0.5 0.5
4.0 4.0

11. Tangible fixed assets

Computer and office
equipment		 Cloister Total
£ £ £
Cost
At 1 January2023 71,819 64,124 135,943
Additions 2,582 - 2,582
Disposals (4,977) - (4,977)
At 31 December 2023 69,424 64,124 133,548
Depreciation
At 1 January2023 42,107 61,979 104,086
Charge for theyear 10,393 269 10,662
Disposals (4,401) - (4,401)
At 31 December 2023 48,099 62,248 110,347
Net book value
At 31 December 2023 21,325 1,876 23,201
At 31 December 2022 29,712 2,145 31,857

22

PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

12. Investments

Central Board
Huntington		 Subsidiary
of Finance Legacy Company Total
£ £ £ £
At 1 January2023 47,127 19,779 100 67,006
Additions - 658 - 658
Annual revaluation 2,808 1,482 - 4,290
At 31 December 2023 49,935 21,919 100 71,954
At 31 December 2023–cost 49,935 3,557 100 53,592

The investments with the Central Board of Finance of the Church of England are 34,497 (2022: 34,497) units in the Fixed Interest Securities Fund.

12. Investments (continued)

The Huntington Legacy comprises investments held on trust by the London Diocesan Fund in respect of that legacy and at 31 December 2023 amounted to:

789.80 Investment Shares
Deposit account		 Cost Market
Value
£ £
624 17,854
4,065 4,065
4,689 21,919

The PCC holds 100 shares of £1 each in its wholly owned trading subsidiary company St Bartholomew Enterprises Ltd which is incorporated in the United Kingdom. These are the only shares allotted, called up and fully paid. The company has not traded during the year.

23

PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

13. Stock
2023 2022
£ £
Bookstall stock 7,460 6,599
Cloister café stock 1,916 6,087
9,376 12,686
14. Debtors
2023 2022
£ £
Debtors forgoods and services 35,484 58,189
Other debtors 5,250 -
Grant receivable 22,546 30,122
Listed Places of Worship grant
recoverable		 6,436 -
Income tax recoverable 9,855 8,266
Prepayments 8,351 4,783
87,922 101,360

15(a). Creditors due within one year

2023 2022
£ £
Creditors forgoods and services 61,747 30,293
Owed to the Diocese & related
entities		 1,492 436
Other taxation and social
security		 14,650 5,434
Accruals and deferred income 31,005 51,412
108,894 87,575

24

PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

15 (b). Credits due after more than one year

2023 2022
£ £
St Bartholomew the Great
Heritage Trust loan		 65,000 65,000
St Bartholomew's Gatehouse
Trust loan		 - 50,000
65,000 115,000

16. Repairs

No provision has been made in these financial statements in respect of liabilities for maintenance of the buildings. The most recent quinquennial inspection was undertaken in February 2022 and a maintenance programme for the necessary works is currently being planned with works expected to begin later in 2024.

25

PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

17. Restricted Funds

Movement in Funds - 2023

Balance Balance
Fund 1.1.23 Revaluation Income Expenditure Transfers 31.12.23
£ £ £ £ £ £
St Bartholomew the Great
100 Club - - 1,320 (460) (860) -
Art Exhibition - - 8,420 (8,056) 364
Assistant Priest's Accommodation - - 17,500 (17,500) -
Beddington Fund - - - - - -
Butterworth Charity 716 - - - - 716
Charity Committee - - 1,422 (252) 1,170
Choir and Music Fund 11,163 - 1,300 (2,404) - 10,059
Choral Scholarships - - - - - -
Columbarium Fund 3,400 - 100 - - 3,500
Education Project 1,200 - - - - 1,200
Fabric Fund 23,202 - 127,650 (48,985) 860 102,727
Huntington Legacy 19,779 1,482 658 - - 21,919
Idie's Flower Fund 2,400 - 100 - - 2,500
Lent Appeal 446 - 750 (813) - 383
LivestreamingEquipment 16,920 - - (3,450) 13,470
Roof Fund 17,008 - - - - 17,008
900th AnniversaryProject 5,400 - 135,604 (110,690) - 30,314
Ukraine Collection - - - - - -
St Bartholomew the Less
Friends of St Bartholomew the
Less		 29,087 - 500 - - 29,587
SBL Ministry - - 16,887 (16,887) - -
900th Anniversary Project - - 26,874 (7,411) 19,463
130,721 1,482 339,085 (216,908) - 254,380

26

PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

Movement in Funds - 2022

Balance Balance
Fund 1.1.22 Revaluation Income Expenditure Transfers 31.12.22
£ £ £ £ £ £
St Bartholomew the Great
100 Club - - 1,320 (465) (855) -
Art Exhibition - - - - - -
Assistant Priest's
Accommodation		 - - - - - -
Beddington Fund - - - - - -
Butterworth Charity 716 - - - - 716
Charity Committee - - - - - -
Choir and Music Fund 14,466 - - (3,303) - 11,163
Choral Scholarships 1,025 - - (1,025) - -
Columbarium Fund 3,300 - 100 - - 3,400
Education Project 1,200 - - - - 1,200
Fabric Fund 16,628 - 8,500 (2,781) 855 23,202
Huntington Legacy 21,428 (2,177) 528 - - 19,779
Idie's Flower Fund 2,300 - 100 - - 2,400
Lent Appeal - - 446 - - 446
Livestreaming Equipment - - 18,458 (1,538) 16,920
Roof Fund 44,032 - - (27,024) - 17,008
900th AnniversaryProject (43,320) - 114,718 (65,998) - 5,400
Ukraine Collection - - 2,171 (2,171) - -
St Bartholomew the Less
Friends of St Bartholomew
the Less		 30,540 - 176 (1,629) - 29,087
SBL Ministry 3,581 - 55,451 (59,032) - -
900th Anniversary Project - - - - - -
95,896 (2,177) 201,968 (164,966) - 130,721

17. Restricted Funds (continued)

The 100 Club was started in 2008 as a means of raising money to support the work of the Priory Church. Members pay £10 per month into a fund, from which 16.7% is taken annually in four instalments to provide cash prizes in various denominations to the club's members. The remainder of the cash in the fund is available for fabric projects. This is treated as a restricted fund to maintain visibility of the project and to manage control of the prize component of the fund.

27

PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

The Art Exhibition Fund was established to fund the 900th anniversary Art Exhibition curated by the church's Artist in Residence.

The Assistant Priest's Accommodation Fund receives grant funding to cover the cost of accommodation for the Assistant Priest.

The Beddington Fund was set up to establish ongoing links with people who are married in the Church. It involves a one-time joining fee, and fees for events organized for the members of the Society to bring them together. There were no activities during 2023.

The Beddington Fund was set up to establish ongoing links with people who are married in the Church. It involves a one-time joining fee, and fees for events organized for the members of the Society to bring them together. There were no activities during 2023.

The Butterworth Charity is distributed every Good Friday, generally in the form of hot cross buns. The income derives from collections at the service.

The Charity Committee Fund was set up to receive donations for the Parish's nominated charity from a variety of activities organised in the Parish.

The Choir Fund was established to receive funds towards the costs of the choir for special services.

The Choral Scholarship fund provides funding to allow music students to gain experience of participating in the choral traditions of the Parish.

The Columbarium Fund represents deposits received against future sales of niches when the Columbarium is built.

The funds for the Education project are to be applied to enhancing the educational material in the two churches of the Parish.

The Fabric Fund is held for fabric projects and repairs and is financed by a share of collections held at special services and by specific donations and legacies.

The Huntington legacy is represented by specific investments, as explained in note 12, which are under the control of the London Diocesan Fund. Under the terms of the bequest the fund is to be applied for major unexpected repairs to the fabric of the Priory Church. The fund received interest in the year and was revalued upwards.

Idie's Flower Fund was formed as a result of a generous bequest by the late Iris V. Wharton. Additions are made to the fund from time to time from specific fund raising events, donations for flowers and from interest on the fund's bank account. The income of the fund is used to provide flowers for services on those occasions when flowers are not provided from external sources.

The Lent Appeal was established for the collection of donations to support the nominated charity during the Parish's Lent Appeal.

28

PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

The Livestreaming equipment fund represents specific grant funding to allow the Parish to upgrade its livestreaming equipment.

The Roof Fund was established to fund the necessary works identified in the quinquennial report of 2009. Substantial repairs were carried out to the Quire roof with the second stage of the project being completed in 2012. The remaining funds will be applied to the continuing programme of roof repair works during 2024.

The 900th Anniversary Fund has been established to receive donations towards the 900th Fundraising Appeal.

The Ukraine Collection was a a specific fundraising appeal in support of the Diocese of Europe.

17. Restricted Funds (continued)

The Friends of St Bartholomew the Less is primarily used for fabric related expenditure for St Bartholomew the Less Church.

The SBL Ministry Fund receives grant funding specifically for the provision of Anglican Ministry services at St Bartholomew the Less.

The SBL 900th Anniversary Fund has been established to receive donations towards the 900th Fundraising Appeal.

18. Related party transactions

The Rector, and the Churchwardens who acted during the year— Charles Spanton and Roy Sully (up to 21 May 2023) and Harry Cowd (from 21 May 2023) are ex officio trustees of The St. Bartholomew the Great Heritage Trust and The St Bartholomew's Gatehouse Trust. There are other trustees of these two Trusts.

The PCC has borrowed £65,000 from the Heritage Trust to fund the Cloister development works. Interest at 2.7% per annum is payable on the loan. The original five year repayment date has been extended with agreement from the Trustees of the Heritage Trust.

The PCC has borrowed £50,000 from the St Bartholomew's Gatehouse Trust to fund the initial fundraising costs associated with the 900th anniversary project. The loan was repaid during the year.

The trustees of the St Bartholomew's Gatehouse Trust made a grant of £17,500 to cover the accommodation costs for the Assistant Priest. Of this grant, £5,000 was outstanding at the year end and is included in debtors.

29

PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

19. Analysis of net assets between funds

As at 31 December 2023

Unrestricted Restricted Total
funds funds funds
£ £ £
Tangible fixed assets 9,731 13,470 23,201
Investments 50,035 21,919 71,954
Current assets 333,333 218,991 552,324
Creditors due within oneyear (108,894) - (108,894)
Creditors due after more than
oneyear		 (65,000) (65,000)
219,205 254,380 473,585

As at 31 December 2022

Unrestricted Restricted Total
funds funds funds
£ £ £
Tangible fixed assets 14,937 16,920 31,857
Investments 47,227 19,779 67,006
Current assets 376,047 144,022 520,069
Creditors due within oneyear (87,575) - (87,575)
Creditors due after more than
oneyear		 (65,000) (50,000) (115,000)
285,636 130,721 416,357

20. Financial Instruments

20. Financial Instruments
2023 2022
£ £
Financial assets measured at fair value through the
Statement of Financial Activities 71,954 67,006

30

PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

Financial assets measured at fair value through the Statement of Financial Activities represent fixed asset investments.

21. Reconciliation of net movement in funds to net cash flow from operating activities

2023 2022
£ £
Net movement in funds 57,228 150,676
Depreciation of tangible fixed
assets		 11,238 7,037
(Gains)/ losses on investments (4,290) 9,553
Interest and dividend income (5,798) (2,390)
Decrease /(increase)in stock 3,310 (9,078)
Decrease /(increase)in debtors 13,438 (22,667)
Increase /(decrease)in creditors (28,681) 36,272
Net cash used in operating
activities		 46,445 169,403

22. Analysis of Cash and Cash Equivalents

2023 2022
£ £
Cash in hand 422,503 375,565
Short term deposits 32,523 30,458
Total cash and cash equivalents 455,026 406,023
1 January Cashflows 31 December
2023 2023
£ £ £
Cash in hand 375,565 375,565
Short term deposits 30,458 30,458

23. Cash Commitments

As at 31 December 2023, the PCC had entered into a contract for £240,745 for repairs to the Cloister Roof, Small Roofs and other urgent repairs.

31