Matts Playtime (previously known as Matt's Tots) restarted and proved extremely successfvl. Partly as a
result of this we were delighted to welcome new families and a number of young children to St Matthew's
for the first time. Sadly a number of our senior members passed away and we will miss them and their
contributlon to the community. Outreach to local people in care homes for the elderfy and in primary and
secondary schools for the young remained a high priority and members of the leadership team were
responsible for many examples of this. St Matthews aims to be there for the local community and to attend
to its needs. The church's commitment to hosting the Hammersmith & Fulham Foodbank continues and
is a blessing to us. Food Bank's offices are in St Matthew's and food collection sessions and advice
surgeries are run twice a week in the church.
Financial Review
2022 was notable for the completion of the sale of the St Michael's Centre in Townmead Road. The
Diocese granted £105,000 in total to St Matthew's PCC out of the proceeds. Without this one-off amount
the general fund income would have been £101,388, almost exactly the same as in 2021. In anticipation
of the receipt of these funds the PCC agreed to donate £8,500 to our friends at St Peterfs church in St
Heller, Carshalton to assist them realise their dream to remove unwanted and unsightly murals which
everyone agreed were detrimental to a thriving church community.
Excluding this gift general fund expenditure would have been £118,575 and, compared to the income
without the proceeds of St Michael's, would have left a deficit of £17,187 (2021: deficit of £3,140). Other
reasons for increased expenditure include increased salary expenses of employing a part time curate for
the full year rather than part of a year plus additional seNice expenses and energy costs.
Fulham YMCA continued to support our youth work with monthly grants and there was a heartening
increase in rental income re￿iVed for letting the church building. Hammersmith & Fulham Foodbank, the
main user of our church building is not charged rent, a deliberate decision of the PCC. A £10,000 gift from
outside our parish was the one significant donation received in 2022 while in the prior year we received a
one-off donation of £19,300 from St Luke's, Wimbledon. Regular giving from members of St Matthew's
was broadly equivalent to the prior year for which we are extremely grateful. A few regular givers did
decide reluctantly they could no longer give as much as before and we are grateful for what they have
given and continue to give.
There was no legacy income in the current or preceding year. I
,liiq5CI,,4'
Expenditure induded £65,208 (2021 £65,208) contribution to the diocesan Common Fund, which
provides the stipends and housing for the clergy. After several years of not being able to increase our
common fvnd contributions the PCC has decided to increase our contribution by 3.5 % on 2023 so we will
give £67,500.
Furthermore PCC made the decision to delay any investments to improve the audio systems in the church
but committed to replace the chairs with chairs which can be stacked and stored far more easily making
the conversion of the worship area for Food Bank use far easier. This purchase was completed after the
end of the year using some of the funds received from the sale of St Michael's.
The PCC maintains the ￿MMItMent to distribute 12.5 % of receipts from church members to our mission
partners. After this reallocation and the transfer of £3,000 to the building fund the net result was a surplus
of £66,738 meaning that the general fund closed 2022 at £100,490. 1;"
Reserves policy
It is PCC policy to maintain an adequate balance on unrestricted funds, which would enable the Church
to cover any emergency situations that may arise unexpectedly. The balance on unrestricted fvnds at the
year-end was £720,281 (£121,295 excluding assets held for church purposes) and we are thankful to God
for his goodness.
It is our policy to invest our funds balances with the CBF Church of England Deposit Fund. ,
Approved by the Parochlal Church Councll on 18 Aprll 2022 and slgned on their behalf by Rev'd
William
ogers (PCC Chairman)
Jh
11
41












Parochlal Church Council of St Matthew's , Fulham
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 December 2022
1. Accounting pollcles
The PCC is a public benefit entity within the meaning of FRS102. The financial ststements have been prepared
under the Charities Act 2011 and in accordan￿ with the Church Accounting Regulations 2006 goveming the
individual accounts of PCC, and with the Regulations true and fair view, provisions. The accounts have been
prepared under FRS102 (2016) as the applicable accounting stsndards and the 2016 version of the Ststement
of Recommended Practice, Accounting and Reporting by Charities (SORP(FRS102)).
ASSETS
Fixed Assets
Consecrated and benefi￿ propety is not included in the accounts in accordance with section 10(2) (a) and (c)
of the Charities Act 2011.
Fixed assets retained for church use is the freehold prope,ty "The Vicarage Room" per note 10;
Short terni deposits
These are the cash held on deposit either with the CCLA or at the bank.
Current Assets
Amounts owing to the PCC at 31 De￿mber in respect of fees, rénts or other income are shown as
debtors less provisions for amounts that may prove uncollectible.
Ilr
Short-tenn deposits indude cash held on deposit either with th'e CBF Church of England Funds, or at
the bank.
Ji
FUNDS
Unrestricted Funds
These represent the remaining income funds of the PCC that are available for spending on the general purposes
of the PCC, including amounts designated by the PCC for its own use or for spending on a future project and
which are therefore not induded in its "free reserves" as disclosed in the trustees, report., IhtTI'{Y
Restrictsd Funds
These are income funds that must be must be spent on restricted purposes and details of the funds held
and restrictions provided are shown in the notes to the accounts.
fly
Incomlng resources
Planned giving, collections and similar donations are recognised when re￿ived. Tax refunds are recognised when
the incoming resource to which they relate is received. Grants and legacies are accounted for when the PCC is
entitled to the use of the reSoUr￿s, their ultimate receipt is considered reasonably ￿rtain and the amounts due are
readily quantifiable. Interest is accounted for as and when accrued by the payer. All incoming resources a
accounted for gross.,
Resources expended
T'he diocesan parish share expected to be paid over is accounted for when you all other expenditure is generally
recognised when it is incurred and is accounted for gross.
IL

Parochlal Church Council of St Matthew's , Fulham
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 December 2022
2. Incomlng Resources
Unrestricted Restricted
Funds
Funds
TOTAL
TOTAL
FUNDS 2022 FUNDS 2021
Notes
a Voluntary income
Planned giving
Collections at all servI￿s
Sundry donations and appeals
Legacies
Grants
Income tax recoverable
54,140
1,589
20,869
54,140
1,589
20,869
52,407
29,113
115,645
13,316
115.645
13,316
9,829
8,969
205,559
205,559
102,382
b Activities for generating funds
Lettings of church buildings
Rental of Vicarage Room
7,778
7,778
3,604
199
7,778
7,778
3,803
c Income from Investments
Interest on Deposit Account
45
45
d Church Activities
Fees from weddings etc
1,010
1,010
2,519
1,010
1,010
2,519
Totsl incoming resources
214,392
214,392
108,712
Page 5

NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 December 2022
6. Grants
2022
2021
Fulham YMCA, re St Matthews Mission
Diocese of London - Share of Proceeds from sale of St Michael's
Diocese of London - Grant towards energy costs
Charlotte Sulivan Charity
HMRC Job retention Scheme
8,004
105,000
2,641
6,670
379
2,780
9,829
115,645
St Michael's was a mission church in Townmead Road in the parish of St Matthew, Fulham, latterly used as a
youth ￿ntre. The DI0￿Se made a grant to St Matthews PCC after a sale for redevelopment was agreed.
7. Analysis of Net assets by fund
Unrestricted Restricted
Funds
Funds
TOTAL
TOTAL
FUNDS 2022 FUNDS 2021
Fixed assets
Current assets
Current liabilities
650,000
73,305
-3,024
720,281
650,000
73,305
4,114
720,191
650,000
30,852
4,503
676,349
-90
-90
8. Debtors
2022
2021
Gift aid tax recoverable
Prepayments
12,989
4,750
17,739
500
500
9. Credltor8 . amounts falllng due wlthln one year
2022
2021
Accruals for Servi￿ and administration fees
Gift aid payable
Funds received on behalf of Mission Partners
Income tax and national insurance
Pension
2,671
1,181
319
2,770
233
434
3,114
4,503
10. Tangible Fixed Assets
Freehold land & buildings
Total
At the beginning of the year
Additions
Revaluations
At the end of the year
650,000
650,000
650,000
650,000
"The Vicarage Room" 2b Clancarty Road, on the site of St Matthews vicarage, was converted from a church hall
into a dwelling during 2018 and is now used to house a youth bible teacher and to provide some rental income.
The last market valuation of the propety was obtained in December 2018.
Page 7




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