## **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 Tr￿tee8 and Ex•mlner Tr church's trustees are r¢$yOn￿bIt for the preparation of the accounts. The clwrch'8 trustees conslder that a audit 18 not required for this year wider section 144(2) of the Cbarities Act 2011 (the 2011 knt) aDd th&t an It i8 nly responmbilityto.. - Examin¢ the accounts under section 145 of the 2011 Act; . To follow tbe procths laid down in the General Directions given by th¢ CIwAty Cowmissioners (under stttion 145(5)(b) of ￿ 201 IAet)' 41 . To state whetbtrporticular D￿tter& hAve come to my attcnlio Buls of tndependent Examitier'l report My examination was canied out in accordattce th¢ general D]r￿tiOnS given by the Charity c0tnrti￿l0n. An examination includes a review of tbe accountiihg records kept by the clwity al￿ a compari81)D of th¢ a¢￿Unts pres6nted with those records. It a180 in¢lude8 ¢onsideTing anyunusual item5 or disclosures in the a¢¢ount$ and seeking explanations from you as tsYstees concerning #ny su¢h matter5. The prc¢edU￿s uJMlert&en do not provide the evide]￿¢ that would be required in all a￿lIt 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. Indepe￿dent 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 qu￿1￿ed to act as lttdet￿￿t ExaJniDer uoder the provisi0tt8 of that section of the Act aDd that rny q1￿1]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 HOne￿￿t L8ne, Ststjmoo HA7 IJS Date: IS- y¥+- I