GUILD CHURCH COUNCIL OF ST MARY ALDERMARY
Registered Charity number 1163613
ANNUAL REPORT AND FINANCIAL STATEMENTS
For the year ended 31 December 2023
CHARITY NUMBER 1163613
GUILD CHURCH COUNCIL OF ST MARY ALDERMARY
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the charity, its Trustees and their advisers | 1 |
| Trustees Report | 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Consolidated Balance Sheet | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7-11 |
GUILD CHURCH COUNCIL OF ST MARY ALDERMARY
Page 1
Church: Guild Church of St Mary Aldermary Watling Street, London, EC4M 9BW Charity Number: 1163613 Priest in Charge: Revd. Paul Kennedy
Bankers:
CAF Bank Ltd 25 Kings Hill Avenue, Kings Hill, West Malling Kent ME19 4JQ
Independent Examiner: Simia Wall Sir Robert Peel House, 178 Bishopsgate, London, EC2M 4NJ
Council Members:
Paul Kennedy, Guild Vicar Robert Pfeiffer, Curate Alan Matthews, Treasurer and Church Warden Emily Richardson, Church Warden Chloe Hyde Rory O'Gallagher John Downey
GUILD CHURCH COUNCIL OF ST MARY ALDERMARY
Page 2
2023 REPORT OF THE GUILD CHURCH COUNCIL
The Guild Church Council ('GCC') presents the annual report and accounts for the year ended 31 December 2023.
Responsibilities of the GCC
The GCC is required to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Church as at the end of the financial year and of its income and expenditure for that period. In preparing those accounts, the GCC is required to select appropriate accounting policies, make judgements and estimates that are reasonable and prudent and state whether all accounting standards which they consider to be applicable have been followed. The GCC is also required to use a going concern basis in preparing the accounts unless this is inappropriate.
The GCC has the responsibility for ensuring that there are proper accounting records kept, and for taking such steps as are reasonably open to safeguard the assets of the Church and to prevent and detect fraud and other irregularities.
Principal activity and review:
The GCC has the responsibility of cooperating with the Priest in Charge, in promoting in the Guild Church of St Mary Aldermary the whole mission of the Church, pastoral, evangelistic, social and ecumenical.
During 2023 the GCC believes it has met its objectives and will continue to do so.
Major risks:
The GCC believes that it has identified and reviewed all major risks that might affect the mission and have sufficient systems and procedures in place to mitigate those risks. In particular the GCC believes that the level of reserves held are sufficient and reasonable to maintain the mission.
Investment Policy:
The financial reserve is now spread between Business Savings Accounts between CAF Bank and Lloyds TSB.
Trustee Remuneration
No members of the GCC receive any remuneration. Reasonable expenses are met.
Financial Result:
The GCC made a surplus on incoming resources over expenditure of £35,769. The Balance Sheet at 31 December 2023 showed total net assets of £252,409. The GCC is satisfied with the result for the year and the level of reserves held.
Council:
The members of the GCC during the year were as shown on page 1.
All members of the GCC are either ex officio or are elected at the Annual Guild Church Meeting in accordance with the Church Representation Rules. The Church has adopted a policy of waiving the term limits that apply to any person serving six years continuously.
Approved by the GCC on and signed on its behalf by:
Paul Kennedy (Priest in Charge)
g
Independent Examiner's Report to the Trustees of the Guild Church Council (GCC) of St Mary Aldermary
I report on the accounts of the church for the year ended 31 December 2023 which are set out on pages 5 to 12.
Respective Responsibilities of Trustees and Examiner
The church's trustees are responsible for the preparation of the accounts. The church's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
-
Examine the accounts under section 145 of the 2011 Act;
-
To follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the 2011Act); 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 the 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 considering any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide 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 is limited to those matters set out in the statement below.
Independent Examiner’s statement
Since the gross income for the year exceeds the amount provided in section 145(3) of the Act, I confirm that I am qualified to act as Independent Examiner under the provisions of that section of the Act and that my qualification is as shown below.
In connection with my examination, no matter has come to my attention:
-
1) which gives me reasonable cause to believe that in any material respect the requirements
-
to keep accounting records in accordance with section 130 of the 2011 Act; and
-
to prepare accounts, which accord with the accounting records and comply with the accounting requirements of of the 2011 Act have not been met; or
-
2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Nik Fisher Simia Wall Independent Examiner Chartered Accountants Sir Robert Peel House, 178 Bishopsgate, London, EC2M 4NJ
Date:
GUILD CHURCH COUNCIL OF ST MARY ALDERMARY CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023
Page 4
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| Funds | Funds | Funds | Funds | ||
| Notes | £ | £ | £ | £ | |
| Income and Endowments | |||||
| 2 | Income from donors | 29,649 | - | 29,649 | 14,276 |
| 3 | Other voluntary income | 8,000 | 11,477 | 19,477 | 15,492 |
| 4 | Income from operating activities | 400,846 | - | 400,846 | 295,025 |
| Total income and endowments | 438,495 | 11,477 | 449,972 | 324,793 | |
| Expenditure | |||||
| 5 | Cost of generating funds | 130,496 | - | 130,496 | 85,488 |
| 6 | Clergy and Staffing costs | 131,667 | 131,667 | 134,835 | |
| 7 | Building and Maintenance | 48,711 | 11,477 | 60,188 | 39,959 |
| 8 | Running Costs | 41,852 | - | 41,852 | 23,017 |
| Common Fund | 50,000 | - | 50,000 | 14,325 | |
| Expenditure | 402,726 | 11,477 | 414,203 | 297,624 | |
| Net movement in funds | 35,769 | - | 35,769 | 27,169 | |
| BALANCES BROUGHT FORWARD | 212,640 | 4,000 | 216,640 | 189,471 | |
| BALANCES CARRIED FORWARD | 248,409 | 4,000 | 252,409 | 216,640 |
Page 5
GUILD CHURCH COUNCIL OF ST MARY ALDERMARY CONSOLIDATED BALANCE SHEET AT 31 DECEMBER 2023
| Notes £ FIXED ASSETS 9 Furniture and Equipment CURRENT ASSETS 10 Cash and Bank 263,876 11 Stock 5,318 12 Debtors 7,755 276,949 CURRENT LIABILITIES 13 Accruals 2,000 14 Creditors 29,221 31,221 NET CURRENT ASSETS TOTAL ASSETS LESS LIABILITIES ANALYSIS OF FUNDS Unrestricted Restricted Total |
2023 £ £ 6,681 226,460 4,202 9,062 239,724 2,000 18,888 20,888 245,728 252,409 248,409 4,000 252,409 |
2022 £ 1,516 218,836 220,352 |
|---|---|---|
| 212,640 4,000 |
||
| 216,640 |
The accounts were approved by the Council on and signed on its behalf by: Paul Kennedy (Priest in Charge)
| GUILD CHURCH COUNCIL OF ST MARY ALDERMARY BALANCE SHEET AT 31 DECEMBER 2023 NOTES £ FIXED ASSETS 16 Investment in St Mary Aldermary (Trading) Ltd 9 Furniture and Equipment CURRENT ASSETS 10 Cash and Bank 184,102 12 Debtors 7,755 Loan to St Mary Aldermary (Trading) Ltd 70,956 262,813 CURRENT LIABILITIES 13 Accruals 1,000 14 Creditors 5,852 6,852 NET CURRENT ASSETS TOTAL ASSETS LESS LIABILITIES ANALYSIS OF FUNDS Unrestricted Restricted Total |
2023 £ £ 24,250 - 175,393 9,062 46,211 230,666 1,000 9,385 10,385 255,961 280,211 276,211 4,000 280,211 |
Page 6 2022 £ 24,250 - 220,281 244,531 240,531 4,000 244,531 - - |
|---|---|---|
The accounts were approved by the Council on and signed on its behalf by: Paul Kennedy (Priest in Charge)
##
NOTES TO THE ACCOUNTS AT 31 DECEMBER 2023
Page 7
1 Accounting Policies
The GCC is a public benefit entity within the meaning of FRS102. The financial statements have been prepared under the Charities Act 2011 and in accordance with the Church Accounting Regulations 2006 governing the individual accounts of GCCs, and with the Regulations' "true and fair view" provisions and have also been prepared under FRS102 (2016) as the applicable accounting standards and the 2016 version of the Statement of Recommended Practice, Accounting and Reporting by Charities (SORP(FRS102)).
Assets
Consecrated and benefice property
In so far as consecrated and benefice property of any kind is excluded from the statutory definition of 'charity' by Section 10(2) (a) and (c) of the Charities Act 2011 such assets are not capitalised in the financial statements.
Moveable church furnishing
These are capitalised at cost and depreciated over the useful economic life other than where insufficient cost information is available. In this case the item is not capitalised, but all items are included in the Church's inventory in any case.
Tangible fixed assets for use by charity
These are capitalised if they can be used for more than one year, and cost at least £1,000. They are valued at cost or else, for gifts-in-kind, at a reasonable estimate of their open market value on receipt.
Depreciation is calculated to write off the capitalised cost of fixed assets less their currently anticipated residual fair value over their estimated useful lives as follows:
Furniture & Equipment 5 years
An impairment review is carried out at each year-end and any resultant loss identified included in expenditure for the year.
Stock
Host Cafe trading stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised
Funds
Unrestricted Funds
These represent the remaining income funds of the GCC that are available for spending on the general purposes of the GCC, including amounts designated by the GCC for fixed assets for its own use or for spending on a future project and which are therefore not included in its 'free reserves' as disclosed in the trustees' report.
Restricted Funds
These are income funds that must be spent on restricted purposes and details of the funds held and restrictions provided are shown in the notes to the accounts.
###
NOTES TO THE ACCOUNTS AT 31 DECEMBER 2023
Page 8
2 Income from donors
| Planned Giving Collections and Other Giving Gift Aid Recovered 3 Other voluntary income Grants The Friends of the City Churches Trust for London Trust for London Boiler 50% Diocesan Fund Worshipful Company of Cordwainers City of London Toilet Scheme LPOW Grant City of London Recovery Fund Grant Legacy S Melluish Tank Regiment 4 Income from operating activities Church Yard Trading Stalls Rental: Orthodox Church Rental: Income Other Sales Fees for weddings and funerals Bank Account Interest |
2023 £ 6,000 22,193 1,456 29,649 - 1,290 2,285 2,600 1,750 720 2,832 - 8,000 - 19,477 60,376 33,750 5,755 299,271 - 1,694 400,846 |
2022 £ 7,695 5,035 1,546 14,276 29,649 - 1,290 3,890 7,587 2,500 - - - 11,302 - 400 15,492 59,772 101,575 33,675 6,933 194,498 299,271 - 147 295,025 |
|---|---|---|
GUILD CHURCH COUNCIL OF ST MARY ALDERMARY NOTES TO THE ACCOUNTS AT 31 DECEMBER 2023
| NOTES TO THE ACCOUNTS AT 31 DECEMBER 2023 5 Cost of generating funds Gift Aid and Collection Fees Performance and Publicity Costs Bank Charges Legal and Professional Fees Cost of Sales VAT 6 Clergy and Staffing Costs Staff Salaries Employers National Insurance Employers Pension Contribution Payroll bureau fee Training Recruitment Priest in charge - Stipend - National Insurance - Pension - Resettlement Grant - Housing - Pastoral Expenses The average number of employees in 2022 was 5. 7 Building and Maintenance Insurance Church maintenance Cost of Applying for Grants Electricity Gas Water Equipment Maintenance |
2023 £ - 2,700 5,570 - 84,822 37,404 130,496 118,608 2,501 7,357 1,493 1,496 36 - - - - - 176 131,667 747 20,895 4,637 24,180 6,009 213 3,507 60,188 |
Page 9 2022 £ 1,583 3,560 - 57,485 22,860 85,488 96,973 1,775 6,271 1,355 57 129 13,950 1,163 5,000 487 7,675 - 134,835 708 8,165 13,100 13,801 152 4,033 39,959 |
|---|---|---|
GUILD CHURCH COUNCIL OF ST MARY ALDERMARY NOTES TO THE ACCOUNTS AT 31 DECEMBER 2023
Page 10
8 Running Costs
| 8 | Running Costs | ||
|---|---|---|---|
| Year to | Year to | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Organ / Piano tuning | - | ||
| Equipment | 3,522 | 3,556 | |
| Cleaning | 9,079 | 7,765 | |
| Cost of Community Events | - | ||
| Worship Costs | 1,179 | 1,494 | |
| Telephone | 1,833 | 1,975 | |
| IT | 316 | - | |
| Postage, printing, stationery | 829 | 827 | |
| Donations | 19,711 | 454 | |
| Governance costs | 1,980 | 1,980 | |
| Administration Expenses | 842 | 1,387 | |
| Depreciation of Furniture and Equipment | 2,561 | 3,579 | |
| 41,852 | 23,017 | ||
| 9 | Fixed Assets | ||
| Furniture & Equipment | |||
| Cost at 1 January | 71,405 | 71,405 | |
| Additions | 7,726 | - | |
| Cost at 31 December | 79,131 | 71,405 | |
| Depreciation at 1 January | 69,889 | 66,310 | |
| Depreciation charge in year | 2,561 | 3,579 | |
| Depreciation at 31 December | 72,450 | 69,889 | |
| Net Book Value at 31 December | 6,681 | 1,516 | |
| 10 | Cash & Bank | ||
| Bank Accounts | 262,899 | 225,585 | |
| PayPal | 977 | 875 | |
| Cash Floats | - | - | |
| 263,876 | 226,460 | ||
| 11 | Stock | ||
| Host Consumables | 5,318 | 4,202 | |
| 5,318 | 4,202 |
GUILD CHURCH COUNCIL OF ST MARY ALDERMARY NOTES TO THE ACCOUNTS AT 31 DECEMBER 2023
| NOTES TO THE ACCOUNTS AT 31 DECEMBER 2023 12 Debtors Gift Aid Recoverable Grant Receivable Community Weekend Away Outstanding Rental Income 13 Accruals Governance costs - Independent Examiner 14 Creditors Building and Maintenance City of London Recovery Funder Grant remainder Rental Deposits Creditors VAT |
Year to 2023 £ - - - 7,755 7,755 2,000 2,000 5,679 9,928 2,300 632 10,682 29,221 |
Page 11 Year to 2022 £ - - 9,062 9,062 2,000 2,000 9,157 - 2,300 7,431 18,888 |
|---|---|---|
GUILD CHURCH COUNCIL OF ST MARY ALDERMARY NOTES TO THE ACCOUNTS AT 31 DECEMBER 2023
Page 12
| 15 | Movement of Funds | ||||||
|---|---|---|---|---|---|---|---|
| Fund | at 01/01/23 | incoming | outgoing | gains/ | at 31/12/23 | ||
| losses | |||||||
| Unrestricted | 212,640 | 438,495 | 402,726 | - | 248,409 | ||
| Restricted doors | 4,000 | - | - | - | 4,000 | ||
| Restricted payroll | - | - | - | ||||
| Restricted building maintenance | - | 11,477 | 11,477 | - | - | ||
| 216,640 | 449,972 | 414,203 | - | 252,409 |
16 Summary of Trading Activities of St Mary Aldermary (Trading) Ltd
The charity holds 24,250 £1 shares in St Mary Aldermary (Trading) Ltd representing 100% of the share capital.
| Turnover Bank Interest Cost Of Sales Gross Profit Rent Staffing HMRC JRS Grant Received City of London Grant VAT Other Operating Expenditure Giftaided to Parent Charity Operating Profit / (Loss) Share Capital Reserves Fixed Assets Stock Loan from to St Mary Aldermary City of London Grant carried forward Bank and Cash Debtors Creditors |
2023 £ 299,235 249 84,822 214,413 26,000 105,162 - - 37,404 46,007 - 89 24,250 (26,058) (1,808) 7,791 5,318 (70,956) (9,928) 79,774 - (13,809) (1,810) |
2022 £ 194,480 - 57,485 |
|---|---|---|
| 136,995 16,000 84,239 - (11,302) 22,860 25,152 - |
||
| 46 | ||
| 24,250 (26,149) |
||
| (1,899) | ||
| 9,476 4,202 (46,211) (9,928) 51,067 4,628 (10,503) |
||
| 2,731 |
GUILD CHURCH COUNCIL OF ST MARY ALDERMARY
Registered Charity number 1163613
ANNUAL REPORT AND FINANCIAL STATEMENTS
For the year ended 31 December 2023
CHARITY NUMBER 1163613
GUILD CHURCH COUNCIL OF ST MARY ALDERMARY
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the charity, its Trustees and their advisers | 1 |
| Trustees Report | 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Consolidated Balance Sheet | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7-11 |
GUILD CHURCH COUNCIL OF ST MARY ALDERMARY
Page 1
Church: Guild Church of St Mary Aldermary Watling Street, London, EC4M 9BW Charity Number: 1163613 Priest in Charge: Revd. Paul Kennedy
Bankers:
CAF Bank Ltd 25 Kings Hill Avenue, Kings Hill, West Malling Kent ME19 4JQ
Independent Examiner: Simia Wall Sir Robert Peel House, 178 Bishopsgate, London, EC2M 4NJ
Council Members:
Paul Kennedy, Guild Vicar Robert Pfeiffer, Curate Alan Matthews, Treasurer and Church Warden Emily Richardson, Church Warden Chloe Hyde Rory O'Gallagher John Downey
GUILD CHURCH COUNCIL OF ST MARY ALDERMARY
Page 2
2023 REPORT OF THE GUILD CHURCH COUNCIL
The Guild Church Council ('GCC') presents the annual report and accounts for the year ended 31 December 2023.
Responsibilities of the GCC
The GCC is required to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Church as at the end of the financial year and of its income and expenditure for that period. In preparing those accounts, the GCC is required to select appropriate accounting policies, make judgements and estimates that are reasonable and prudent and state whether all accounting standards which they consider to be applicable have been followed. The GCC is also required to use a going concern basis in preparing the accounts unless this is inappropriate.
The GCC has the responsibility for ensuring that there are proper accounting records kept, and for taking such steps as are reasonably open to safeguard the assets of the Church and to prevent and detect fraud and other irregularities.
Principal activity and review:
The GCC has the responsibility of cooperating with the Priest in Charge, in promoting in the Guild Church of St Mary Aldermary the whole mission of the Church, pastoral, evangelistic, social and ecumenical.
During 2023 the GCC believes it has met its objectives and will continue to do so.
Major risks:
The GCC believes that it has identified and reviewed all major risks that might affect the mission and have sufficient systems and procedures in place to mitigate those risks. In particular the GCC believes that the level of reserves held are sufficient and reasonable to maintain the mission.
Investment Policy:
The financial reserve is now spread between Business Savings Accounts between CAF Bank and Lloyds TSB.
Trustee Remuneration
No members of the GCC receive any remuneration. Reasonable expenses are met.
Financial Result:
The GCC made a surplus on incoming resources over expenditure of £35,769. The Balance Sheet at 31 December 2023 showed total net assets of £252,409. The GCC is satisfied with the result for the year and the level of reserves held.
Council:
The members of the GCC during the year were as shown on page 1.
All members of the GCC are either ex officio or are elected at the Annual Guild Church Meeting in accordance with the Church Representation Rules. The Church has adopted a policy of waiving the term limits that apply to any person serving six years continuously.
Approved by the GCC on and signed on its behalf by:
Paul Kennedy (Priest in Charge)
g
Independent Examiner's Report to the Trustees of the Guild Church Council (GCC) of St Mary Aldermary
I report on the accounts of the church for the year ended 31 December 2023 which are set out on pages 5 to 12.
Respective Responsibilities of Trustees and Examiner
The church's trustees are responsible for the preparation of the accounts. The church's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
-
Examine the accounts under section 145 of the 2011 Act;
-
To follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the 2011Act); 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 the 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 considering any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide 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 is limited to those matters set out in the statement below.
Independent Examiner’s statement
Since the gross income for the year exceeds the amount provided in section 145(3) of the Act, I confirm that I am qualified to act as Independent Examiner under the provisions of that section of the Act and that my qualification is as shown below.
In connection with my examination, no matter has come to my attention:
-
1) which gives me reasonable cause to believe that in any material respect the requirements
-
to keep accounting records in accordance with section 130 of the 2011 Act; and
-
to prepare accounts, which accord with the accounting records and comply with the accounting requirements of of the 2011 Act have not been met; or
-
2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Nik Fisher Simia Wall Independent Examiner Chartered Accountants Sir Robert Peel House, 178 Bishopsgate, London, EC2M 4NJ
Date:
GUILD CHURCH COUNCIL OF ST MARY ALDERMARY CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023
Page 4
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| Funds | Funds | Funds | Funds | ||
| Notes | £ | £ | £ | £ | |
| Income and Endowments | |||||
| 2 | Income from donors | 29,649 | - | 29,649 | 14,276 |
| 3 | Other voluntary income | 8,000 | 11,477 | 19,477 | 15,492 |
| 4 | Income from operating activities | 400,846 | - | 400,846 | 295,025 |
| Total income and endowments | 438,495 | 11,477 | 449,972 | 324,793 | |
| Expenditure | |||||
| 5 | Cost of generating funds | 130,496 | - | 130,496 | 85,488 |
| 6 | Clergy and Staffing costs | 131,667 | 131,667 | 134,835 | |
| 7 | Building and Maintenance | 48,711 | 11,477 | 60,188 | 39,959 |
| 8 | Running Costs | 41,852 | - | 41,852 | 23,017 |
| Common Fund | 50,000 | - | 50,000 | 14,325 | |
| Expenditure | 402,726 | 11,477 | 414,203 | 297,624 | |
| Net movement in funds | 35,769 | - | 35,769 | 27,169 | |
| BALANCES BROUGHT FORWARD | 212,640 | 4,000 | 216,640 | 189,471 | |
| BALANCES CARRIED FORWARD | 248,409 | 4,000 | 252,409 | 216,640 |
Page 5
GUILD CHURCH COUNCIL OF ST MARY ALDERMARY CONSOLIDATED BALANCE SHEET AT 31 DECEMBER 2023
| Notes £ FIXED ASSETS 9 Furniture and Equipment CURRENT ASSETS 10 Cash and Bank 263,876 11 Stock 5,318 12 Debtors 7,755 276,949 CURRENT LIABILITIES 13 Accruals 2,000 14 Creditors 29,221 31,221 NET CURRENT ASSETS TOTAL ASSETS LESS LIABILITIES ANALYSIS OF FUNDS Unrestricted Restricted Total |
2023 £ £ 6,681 226,460 4,202 9,062 239,724 2,000 18,888 20,888 245,728 252,409 248,409 4,000 252,409 |
2022 £ 1,516 218,836 220,352 |
|---|---|---|
| 212,640 4,000 |
||
| 216,640 |
The accounts were approved by the Council on and signed on its behalf by: Paul Kennedy (Priest in Charge)
| GUILD CHURCH COUNCIL OF ST MARY ALDERMARY BALANCE SHEET AT 31 DECEMBER 2023 NOTES £ FIXED ASSETS 16 Investment in St Mary Aldermary (Trading) Ltd 9 Furniture and Equipment CURRENT ASSETS 10 Cash and Bank 184,102 12 Debtors 7,755 Loan to St Mary Aldermary (Trading) Ltd 70,956 262,813 CURRENT LIABILITIES 13 Accruals 1,000 14 Creditors 5,852 6,852 NET CURRENT ASSETS TOTAL ASSETS LESS LIABILITIES ANALYSIS OF FUNDS Unrestricted Restricted Total |
2023 £ £ 24,250 - 175,393 9,062 46,211 230,666 1,000 9,385 10,385 255,961 280,211 276,211 4,000 280,211 |
Page 6 2022 £ 24,250 - 220,281 244,531 240,531 4,000 244,531 - - |
|---|---|---|
The accounts were approved by the Council on and signed on its behalf by: Paul Kennedy (Priest in Charge)
##
NOTES TO THE ACCOUNTS AT 31 DECEMBER 2023
Page 7
1 Accounting Policies
The GCC is a public benefit entity within the meaning of FRS102. The financial statements have been prepared under the Charities Act 2011 and in accordance with the Church Accounting Regulations 2006 governing the individual accounts of GCCs, and with the Regulations' "true and fair view" provisions and have also been prepared under FRS102 (2016) as the applicable accounting standards and the 2016 version of the Statement of Recommended Practice, Accounting and Reporting by Charities (SORP(FRS102)).
Assets
Consecrated and benefice property
In so far as consecrated and benefice property of any kind is excluded from the statutory definition of 'charity' by Section 10(2) (a) and (c) of the Charities Act 2011 such assets are not capitalised in the financial statements.
Moveable church furnishing
These are capitalised at cost and depreciated over the useful economic life other than where insufficient cost information is available. In this case the item is not capitalised, but all items are included in the Church's inventory in any case.
Tangible fixed assets for use by charity
These are capitalised if they can be used for more than one year, and cost at least £1,000. They are valued at cost or else, for gifts-in-kind, at a reasonable estimate of their open market value on receipt.
Depreciation is calculated to write off the capitalised cost of fixed assets less their currently anticipated residual fair value over their estimated useful lives as follows:
Furniture & Equipment 5 years
An impairment review is carried out at each year-end and any resultant loss identified included in expenditure for the year.
Stock
Host Cafe trading stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised
Funds
Unrestricted Funds
These represent the remaining income funds of the GCC that are available for spending on the general purposes of the GCC, including amounts designated by the GCC for fixed assets for its own use or for spending on a future project and which are therefore not included in its 'free reserves' as disclosed in the trustees' report.
Restricted Funds
These are income funds that must be spent on restricted purposes and details of the funds held and restrictions provided are shown in the notes to the accounts.
###
NOTES TO THE ACCOUNTS AT 31 DECEMBER 2023
Page 8
2 Income from donors
| Planned Giving Collections and Other Giving Gift Aid Recovered 3 Other voluntary income Grants The Friends of the City Churches Trust for London Trust for London Boiler 50% Diocesan Fund Worshipful Company of Cordwainers City of London Toilet Scheme LPOW Grant City of London Recovery Fund Grant Legacy S Melluish Tank Regiment 4 Income from operating activities Church Yard Trading Stalls Rental: Orthodox Church Rental: Income Other Sales Fees for weddings and funerals Bank Account Interest |
2023 £ 6,000 22,193 1,456 29,649 - 1,290 2,285 2,600 1,750 720 2,832 - 8,000 - 19,477 60,376 33,750 5,755 299,271 - 1,694 400,846 |
2022 £ 7,695 5,035 1,546 14,276 29,649 - 1,290 3,890 7,587 2,500 - - - 11,302 - 400 15,492 59,772 101,575 33,675 6,933 194,498 299,271 - 147 295,025 |
|---|---|---|
GUILD CHURCH COUNCIL OF ST MARY ALDERMARY NOTES TO THE ACCOUNTS AT 31 DECEMBER 2023
| NOTES TO THE ACCOUNTS AT 31 DECEMBER 2023 5 Cost of generating funds Gift Aid and Collection Fees Performance and Publicity Costs Bank Charges Legal and Professional Fees Cost of Sales VAT 6 Clergy and Staffing Costs Staff Salaries Employers National Insurance Employers Pension Contribution Payroll bureau fee Training Recruitment Priest in charge - Stipend - National Insurance - Pension - Resettlement Grant - Housing - Pastoral Expenses The average number of employees in 2022 was 5. 7 Building and Maintenance Insurance Church maintenance Cost of Applying for Grants Electricity Gas Water Equipment Maintenance |
2023 £ - 2,700 5,570 - 84,822 37,404 130,496 118,608 2,501 7,357 1,493 1,496 36 - - - - - 176 131,667 747 20,895 4,637 24,180 6,009 213 3,507 60,188 |
Page 9 2022 £ 1,583 3,560 - 57,485 22,860 85,488 96,973 1,775 6,271 1,355 57 129 13,950 1,163 5,000 487 7,675 - 134,835 708 8,165 13,100 13,801 152 4,033 39,959 |
|---|---|---|
GUILD CHURCH COUNCIL OF ST MARY ALDERMARY NOTES TO THE ACCOUNTS AT 31 DECEMBER 2023
Page 10
8 Running Costs
| 8 | Running Costs | ||
|---|---|---|---|
| Year to | Year to | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Organ / Piano tuning | - | ||
| Equipment | 3,522 | 3,556 | |
| Cleaning | 9,079 | 7,765 | |
| Cost of Community Events | - | ||
| Worship Costs | 1,179 | 1,494 | |
| Telephone | 1,833 | 1,975 | |
| IT | 316 | - | |
| Postage, printing, stationery | 829 | 827 | |
| Donations | 19,711 | 454 | |
| Governance costs | 1,980 | 1,980 | |
| Administration Expenses | 842 | 1,387 | |
| Depreciation of Furniture and Equipment | 2,561 | 3,579 | |
| 41,852 | 23,017 | ||
| 9 | Fixed Assets | ||
| Furniture & Equipment | |||
| Cost at 1 January | 71,405 | 71,405 | |
| Additions | 7,726 | - | |
| Cost at 31 December | 79,131 | 71,405 | |
| Depreciation at 1 January | 69,889 | 66,310 | |
| Depreciation charge in year | 2,561 | 3,579 | |
| Depreciation at 31 December | 72,450 | 69,889 | |
| Net Book Value at 31 December | 6,681 | 1,516 | |
| 10 | Cash & Bank | ||
| Bank Accounts | 262,899 | 225,585 | |
| PayPal | 977 | 875 | |
| Cash Floats | - | - | |
| 263,876 | 226,460 | ||
| 11 | Stock | ||
| Host Consumables | 5,318 | 4,202 | |
| 5,318 | 4,202 |
GUILD CHURCH COUNCIL OF ST MARY ALDERMARY NOTES TO THE ACCOUNTS AT 31 DECEMBER 2023
| NOTES TO THE ACCOUNTS AT 31 DECEMBER 2023 12 Debtors Gift Aid Recoverable Grant Receivable Community Weekend Away Outstanding Rental Income 13 Accruals Governance costs - Independent Examiner 14 Creditors Building and Maintenance City of London Recovery Funder Grant remainder Rental Deposits Creditors VAT |
Year to 2023 £ - - - 7,755 7,755 2,000 2,000 5,679 9,928 2,300 632 10,682 29,221 |
Page 11 Year to 2022 £ - - 9,062 9,062 2,000 2,000 9,157 - 2,300 7,431 18,888 |
|---|---|---|
GUILD CHURCH COUNCIL OF ST MARY ALDERMARY NOTES TO THE ACCOUNTS AT 31 DECEMBER 2023
Page 12
| 15 | Movement of Funds | ||||||
|---|---|---|---|---|---|---|---|
| Fund | at 01/01/23 | incoming | outgoing | gains/ | at 31/12/23 | ||
| losses | |||||||
| Unrestricted | 212,640 | 438,495 | 402,726 | - | 248,409 | ||
| Restricted doors | 4,000 | - | - | - | 4,000 | ||
| Restricted payroll | - | - | - | ||||
| Restricted building maintenance | - | 11,477 | 11,477 | - | - | ||
| 216,640 | 449,972 | 414,203 | - | 252,409 |
16 Summary of Trading Activities of St Mary Aldermary (Trading) Ltd
The charity holds 24,250 £1 shares in St Mary Aldermary (Trading) Ltd representing 100% of the share capital.
| Turnover Bank Interest Cost Of Sales Gross Profit Rent Staffing HMRC JRS Grant Received City of London Grant VAT Other Operating Expenditure Giftaided to Parent Charity Operating Profit / (Loss) Share Capital Reserves Fixed Assets Stock Loan from to St Mary Aldermary City of London Grant carried forward Bank and Cash Debtors Creditors |
2023 £ 299,235 249 84,822 214,413 26,000 105,162 - - 37,404 46,007 - 89 24,250 (26,058) (1,808) 7,791 5,318 (70,956) (9,928) 79,774 - (13,809) (1,810) |
2022 £ 194,480 - 57,485 |
|---|---|---|
| 136,995 16,000 84,239 - (11,302) 22,860 25,152 - |
||
| 46 | ||
| 24,250 (26,149) |
||
| (1,899) | ||
| 9,476 4,202 (46,211) (9,928) 51,067 4,628 (10,503) |
||
| 2,731 |
Independent Exanthier'8 Report to the Trll8ttrs of the Gnlld Cbllreh Collnell (GCC) of St M•ry Alderm*ry I rep(rt ¢m the accounts of the church for the yw ended 31 Dttember 2023 which ore oul onpages 5 to 12. RespecthTe Re8PDnsfibllltl of Trtee8 and Ex•mlner Tr church's trustees are r¢$yOnbIt for the preparation of the accounts. The clwrch'8 trustees conslder that a audit 18 not required for this year wider section 144(2) of the Cbarities Act 2011 (the 2011 knt) aDd th&t an It i8 nly responmbilityto.. - Examin¢ the accounts under section 145 of the 2011 Act; . To follow tbe procths laid down in the General Directions given by th¢ CIwAty Cowmissioners (under stttion 145(5)(b) of 201 IAet)' 41 . To state whetbtrporticular Dtter& hAve come to my attcnlio Buls of tndependent Examitier'l report My examination was canied out in accordattce th¢ general D]rtiOnS given by the Charity c0tnrtil0n. An examination includes a review of tbe accountiihg records kept by the clwity al a compari81)D of th¢ a¢Unts pres6nted with those records. It a180 in¢lude8 ¢onsideTing anyunusual item5 or disclosures in the a¢¢ount$ and seeking explanations from you as tsYstees concerning #ny su¢h matter5. The prc¢edUs uJMlert&en do not provide the evide]¢ that would be required in all alIt and ctsnwuentiy no opinion is given lo whether the a¢couDts present a Irue alld fair view and the report 1$ limited to those matters set out in the statement below. Indepedent Examlner's statement Since the gross income for the year exceeds the atnoullt provided ID serlion 14513) of the ACL L coDfinn that l am qu1ed to act as lttdett ExaJniDer uoder the provisi0tt8 of that section of the Act aDd that rny q11]fiCatiOn is as shown below. In conncction my eXamiDatiO no tnatter has come to my attention.. l) which gives nle re&8onable Cause to believe that in any material respect the requirenk - to keep accouW records in accordallce with section 130 of the 20EI A¢L' and . to prepare accounts, which accord with the ac¢ouDting records and complywith tbe aceountiti8 requiremfth of of the 201 l Act have not been Jnet" OT 2) to Ththith, in my qJinio4 attention sb)uld be drawn in order to enable Pd propCruD&r5lA of the acwunts to b¢ reac Nik Fisher Simia Wall LLP Indepelldellt EXa]ner Chartertd Accountants Devo]kshire Howe, 582 HOnet L8ne, Ststjmoo HA7 IJS Date: IS- y¥+- I