2024-12-31-accounts

SAIKf PHILIPS CWEL STrEET TRUSTEES REPORT AND UNAUDITED FINANCLAL STATEMENTS FOR THE YEAR ENDEO 31 DECEMBER 2024

SAINT PHILIPS CHAPEL STREET TRUSTEE REPORT FOR YEAR ENDED 31 DECEMBER 2024 Rèot•tsrnd Ch•rity Number. 1177U) Tr￿0•. Gordon Nlx JKob MaltlwKI bball Summert Efua C￿￿n Tania Jone8 Agni8ozka Hawkln8 Aice Yeoman Phil Wh￿n Saia Sarah Jon88 Infje Morfrol T￿ana 8umh8m sh￿￿1 s￿￿h Po ￿ Boggie Tam AJ￿rn8S Finkthn8En R•9ht•Md Offlc•.' Sl. Phllljs Church 2WIll￿ PL S8Mord M3 6FR Ind•p•nd•nt Ex•fflln•r. C J Goodh8a FCA Knight Gcodhewj Limited Chartered Accounlants 7 Boumemth Road Chandbvs Fonl, Ea8t￿h Hampshl SO53 3DA 8ink•r•: CAF 88nk Ltd 25 Klngs Hill Avenue s Hill Wesl Malllng Kent ME194JQ

SAINT PHILIPS CHAPEL STREET TRUSTEE REPORT FOR YEAR ENDED 31 DECEMBER 2024 The trustees of S81nl PhiliFe Ch8pel Street ¥e pleased10 8ubrnil thL8 ferth and for th8 year endlng 3111 Dacember 2024. ACHIEVEMENTS AND PERFOR￿lANcE In 2024 the ¢hur¢h gjnlinued in ib WKs￿hlP and witness, PK)kling th￿ wDrship Ser¥￿e$ Sunday kncludlng children's group5, 8 weèkly drop4n café FLhJdbank to serve those in most fte8d, a weekly I￿j￿1@r group, youth grDUP, exthing faith couTrg8, and ohr xlvllbes. 3a9s ol Hope o)nlxiued to be a sKJnificanl way knr our thurth lo bfess peole ftting chalbnging siluab)n$, filled ith é$8entlals like lo1￿￿es, 80ckn and underwear, and w8 were 8tAe to ￿ve out anolh8r1,100 this year. The church was able lo c￿nplete the d89ired purchase of a house for our Di￿lPleshiP Ye8r students, complete some renovalions on Ihe property and see our fwsl students mo¥e in duriry ￿ 8ulumn. This September we bocame a hub CP￿rch, delivenng teaching for students in our thurch and aTh)Iher partnèr ehurth In Ndnes. Two students W￿re placed wlth us In sor4￿ber wllh c￿8 olh8r staylng for 8 seccffjd year, allhough thi5 Stthl8nl departed the cour88 in November. The pro￿1 to redevekp thechurch buihjing receiv8d a p08illve responsg from th8 DAC who ￿1p ensure work is done in filling w7th IhedesvJn af the church and its $18te(I n8ed8, and 8 n8w81rat8gy forlundraislng wes approved by the PCC led by a member of the church community wrth expeneno in furKlraising and prDleGt dellvwy church aLqo S￿nt lime consld8rlng how we rnuhl ckgbrate our btcent8n•y In 2025. FINANCIAL REVIEW ApplIca￿cfi fcf the inve8tm8nl fund to ￿ drawn do￿ for tho wr¢h88e ol a hou8e for the DY Inlem8 began in 2023 wa9 finally ¢ondud8d earfy 2024. Tho house in Llverpth)I Street wa8 pur¢ha8ed lor E175,(￿oWI1h eXCh￿ge taking placèon 8kn March 2D24. Total arn￿nI i￿ludIng fwgcosl waÉ £182,231, and al￿ther £17,234 of renovath'on costs were capilalised. Th8 2024 Bvjgel wag cMseNallve wlth a forec881 operating loss of £640, This budjel assum￿.. The SDF2 Grant for Ops Manager salary *nuld conlnue until Cec4mtser 2024, bul in fact it ended mKJ.way through the yeai. Resulted in a shortfall of £17,630. A grant for Outrèach 5alanes would be secured., One-off grant of£5.O¢XJ was weived from Albert Hunt SP. Three-ye¥granl 01£l0,OCQ per annum was received from Th8 Jo58ph Rank TnJsL Resutted in shortfall of £23,325 ML8cdlanew$ Grant InC￿ffle Of£5,￿.. This was nol aCh￿¥Pd. resulted in shortfall of £5,CrfJO

SAINT PHILIPS CHAPEL STREET TRUSTEE REPORT FOR YEAR ENDED 31 DECEMBER 2024 Addilicnal, unbudgeted inrJ)m Seemed hI￿lY Ilkely wlh negolialkjns starting in èJ231o Tonl Ihe church building out to Fusim in 2024 for Ivthl'ng slw. Unfortunately, this did nol rnateriali8e, were b18ss9d with ￿0ther opporfunlty to ienl th8 ￿pIdIng c￿1 to Neffllx for the filrning of a ￿rIC1 dwa. The net resull was additional ofover E20,DOQ. Ga￿th apFeal&J ID Sl Philip's mernbers for one off%lRs incre88ed regjlar gwlng and our faithful member5 oblised generov8ly. An intxedibkg £39,Ci)J was reCeI￿d plug relative 8dditM81 Gfft Akj amounting to E10,512. ExPe￿ilure was ￿11 rnanagéd by the slaff tèam. Bulkjirg iunnlng rAJsts remaln a thalbnge ilh conts'nued prke incr8ase8 in Utilit￿9, ¢￿aning and gaKlening eypenses. MainleThwKe costs have al80 teen higher Ihan budgeted bjt we receid rypraval tts c181m back £5.2k from the d#xe8e, Thls will ￿ d￿0 duriig 2025, Unbudget8d and over.budg8t expens98 ind￿16.. £22,826 for repairg, decoraono 8nd Nnnin9 costs for lh6 DY knl&rn$ house (Llverpcrfjl S £4,620 for architect's le￿ lor The Redeveloprnenl Prop¢l, £8,CQ9 for 8agg of HorA lathcwgh 'over-bJdget', there are &ufficnl funds ir Resfficted Funds to cover th181. Conddering the shorifalls due to unreal￿ed grant fuTrJlng ¥KI urtjudgeted 8rKI u￿er-￿jd9eled exp8ndilur8, the year &nded very positively wlth a nel inwme of £29,368. This wa5 as a result ol Increaged glvlng and tel8tsd Glft AhJ thè building rental intr)ff. 11 musl be notad that £9,600 of Ihe nel Inwrne is for Ihe Chjrch Flanl Dgs&n8bJ Reserve Fund. Stafflng changm: Oli Holl L9ft his pa81tic￿ 88 admink8trative a$9i3lanl In A￿u$l. TeThwr&y administralive 885iStance vra5 gl¥en by Slrnon Wrlghl In Septemter, and Sarah Jones In Eknmb8r. Alice Wklinn passed on regponslbillty lor runnlro the Di8cipb8h* Yeai lo James 8rown. our new curate be9an wlth us In July. Budw 2025: We have budgeted for a loss 01 £20,%2 wlth the h¢¥e to end in a fw favourable pO￿tiOn il giiring continues al the current level and in¢orne from rentmg the building exceeds our conservats've ￿thJe1. R•$•Ng• Pollcy: This policy was agr8ed by Ihe Standing Committee in 2021 wth the goal to build reserves fvnds lo eDver 2 monlhs ol running costs and 3 months of salarigs. We are nDI y81 in a poslllon Ic cov8r thtte costs bul continue to strive towards achieylng Ihl8.

SAINT PHILIPS CHAPEL STREET TRUSTEE REPORT FOR YEAR ENDED 31 DECEMBER 2024 Concluglon: Unbl 2024 our d8pended hoavity OTr recawrYJ saary gr8nts. G￿ng forwa￿, have realised that ￿ is very diff￿Ul1 to obtan grant forsa￿95, hence t￿ nwd to becorm more 881l4ufFK￿l as soon a8 we p)ssitrAy can Oui thug is b contiNe to encourage cur m8mbers b give regul&ly and generousty aNI to g8nerate lunds from renb'ng out our beautiful buikJlrvJ Thls is aso 8 wonderful opportunty for ncm.believeTS to enter the church wh￿h may18ad b) trm cornlng back lo hear GoJ'$ Y￿rd. SAFEGUARDING The Irusiees are grotelul to Aivjreas FinkJensen who serses on PCC 88 our p￿Sh SdeguardiNJ Offrer. H8 and his a$￿Stant, M￿hael Proul, rnc￿lIor any Safegua￿ing coric8m$ ￿ arv Ihe key bridge belw8en our chuth and the DI￿5a￿ sa￿UardIng Advis0rf6 team. Aft8r Idenlfying how to ensure safe9uardlng dats is kept in ¢cThpliance wilh GDPR la￿ a stratway br 8loring data wa5 initiated, VOLUNTEERS The worship and vhtrw of the churchls 8UStalned by a large g￿Jp of abjul 120 amazlng vofunt8èrn. Those ￿TkIng ilh chlldren and young peopkg andlor ajults at risk ar8 safer recnjlled wlth ￿ enhanc6d C8S check. In 2024 the 51aff also tegan lh¢ pY￿s￿of[011Ing ou15afer recruitmenlto al volunteerteams. STRUCTURE, GOVERNANCE AND MANAGEMENT S8inl Phillps ChaFd Slr8el1g partof the Church of Engl￿d, L8&lèrshlp of tho overall vigion ￿ 81rat89y of Ihe chvrch is the fespoTrsibilily of the Rector, Rerfd Dr Gareth Robinson, whltsl the g0Vempn￿ ofthe church - making sure we do vth81 we say we're gcAng to do and IfX)k afterthe buiklmig etc. is in the hands ol the PCC IP8rochlal Church Courdll. Tho PCC fuths Ilke the Iwstees ts0a￿ ofa ¢harfjty me8ts lour Jrne3 a s*ar, The ol the tM)ard, comprislng the Clergy, Church Warden8, Treasur8r and Seuetary,18 thè S14ndir¥J Comfflltt&8 which mèb mLmthty. The PCC15 ￿ elected b&ay m7•Jè vp ol people on Ihe Church Electoral Roll. Anyone who has ￿[ship8d ith us for six rrKJnlhs c8n skJn up to be on Ihe Electoral Roll, which allows you lo vole at the Annuol Parochial Church Meeling whpn we elecl PCC members. PCC Tepresenlthve8 are eleckd for th year5, and so each ye& a Ihird of Ihe PCC is r￿￿Cted. The staff team work to irrwfemenl Ih vision ol the thurch under t￿ lealwship of the Rector aTra govern￿ce ol Ihe PCC.

TRUSTEE REPORT FOR YEAR ENDED 31 OEeeM8 TRUSTEES, RESPONSIBILITIES Ch•rity law foquim Iho Iru•leei b prnpa(e linancial 6tale.1￿Jnls loi f>ac4 I}n￿￿1 year W￿,￿Ch è Irue ano I￿r vlew ol Iho yiaiu of 3ffalr¥ ol liè cbaiity a5 al Iho 9nd ol Ihe firiano.141 yea! ol Il dbflcit ol ch"arity. In p￿PaI1￿9 IhoAe firikficial slalowlents Ifiw. tr115L￿￿e0 ale fvq'JiKI Io-. Select Jukable arxounung poIKi¥5 nav￿r&￿ria to prests Uial the canty ￿11 conimiug on Ihol b8518 Slale wh8lh6r applieabl8 8¢¢0unliiig slantJanl8 and slJlcinc.nls L)1 feromwaofidLhd ¥ac4lce 4a¥o beefi fDltowl, subj6LI to any rnalL?fidl dapwiur81 cypI￿ed ftnaryc',a 818iemenls. The trustse$ arn re5pon¥tsle lor keeplr#a propBf ac.counkng rocor(Is Ihal discb5e with feasoryèble accuracy al any the finwcial Fosiuoft ol the ¢lianly and ltr enable Ih¢m lo e4suie Ihal ltye aCLwnlg cornply wllh Ihe CharfUe8 Ac12011. They are 8120 fesponloie lor 18leguarding Ihe assels ol Ihe company Ind hance for taklng Teagmable steps l(K the prevontion ol Iraud and olher irroguLarili85. Th18 re￿ h08 bogn prepwed tn accordanGe wlth th6 Slalemenl ol Rxoinmgnded Prxdce applicable to th8riti8s preparing Ihetr accounts in a￿ld￿ce with Flnancial RepJrting Slandafd applicable in the UK and Republk of Ireland (FRS 102). Appro￿￿ by the PCC •7d slgned on Its behaff by Ms T Burnham MrJMai Trujiee Dthd. ￿llJd/ L,ai- Trustee ¢r

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SAINT PHILIPS CHAPEL STREET I report to ltre trustees on my eX￿InatiOn of ihe Y•xounts of S8inl Philip8 Chap81 Stre8t for the yèar ended 31 December 2024 881 out on pages 7 to18. RESPONSIBILITIES AND 8ASIS OF REPORT A8 the In￿188$ ol Ihe chwity you ￿ resp)nsble for the pr8paration of the a(￿unts In ￿COrdanCe the requir8mnts of ihe Chthi88 Act 20111'th8 2011 Acll Havlng sali8fled mysell that the xcounts of the charity are not ￿QuIred to te audilod under Part 16 01 the 2Ch36 Act and are eltrJibb for indépèndent ex￿ninatiOn, I r8F¥Nt in respect ol my examinats'on ol y￿r ch8ri1lg accounts as ￿le￿ out Lmder 8ecllon 145 of Ihe 2D11 Act. In carryng out rny oxamin8tlon I have followed the ￿'reCI￿n8 given by the Charity CoMmi98￿n under 9eclon14515Xb) of the 2011 Ad. INDEPENDENT EXAMINER'S STATEMENT Sknce Ihe charfty8 gr08s Income •xca8ded £250,OCQ pur examner mu8t be 8 nwb8r of a bjdy Ilsted In 8eclion 145 01 th8 2011 Act. I conllrm Ihal l em quallfiad lo undertako the examlnallon trfause l am membei of the In81ilute Of Chartgrgd AccOun￿ts Enland and Wales, wh￿h 18 om of the118ted b)J8, I ha￿ c4Jnpbted rny exanin4ti￿. I confirm that Th) matter8 ¢onKg to my attention In ￿n[￿tIon wSth the examlnation giwng rne cauge lo belth that In any material re8￿cl.. 11 amnllng record8 nol kepl in respect of charfty ag requhd by 2ectk)n 130 of the 2011 ACL. 21 th6 attoun18 do not aC￿(d wSth those records,. or 31 the acwunb do not comply wllh ihe applrab18 requlrem&nts conceming lh8 fom 8nd conbnt ol aw)unts sel out in h Chanties {Accounls and R8PJrt8114egulathons %1)8 other Ihan any requiremenl that lh8 accounts gl¥e a 'truo and falr vftw vthich 1$ not a matter conskl8red as part of 8n tsidepend8nl examin8110n. I hav8 no concem$ have come across no other mattars In connection vilh th8 8xaminalv)n lo whit attention 8hould be dr8V4fT in thls report In ¢xder to enabl8 a proper Underst￿mIlng of the accounts to reached. C J GO￿lhe£d FCA KniJht GocJhe8d Limited Chwl8r8d Accountants Daled.. £1 7 Boumemoulh Rowj chand￿rfs Ford. Ea3tlh Harnpshlre S053 3DA

SAINT PHiLIPS CHAPEL STrEET STATEMEMf OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEIIBER 2024 LknMlrt¢t•d Al￿1¢¢•0 EThdoYffi*nt lund• fi￿dI l¥n Total Tolal INCOhlE Donatpjns and bJade6 ChirilaNg actfvltieB 257,609 6.762 2,754 31,843 31,643 18,840 289.252 21fAY2 2754 31B43 267.565 20,121 Lxhor Tthl knco 291,961 85 347,481 294,134 EXPENDITURE (￿rIL￿bkI a￿1¥￿8$ 2th,885 52.113 320.598 321.748 Tol•l •xp•ndh 51113 320,998 321,748 T INCOIIE BEFORE GAIN8 AND LOSSE8 (3.6301 26,453 Q7,114) INVESTMENT GAINS 2,915 2,915 17,169 MET INCOAIE BEFORE TrAN8FER8 p,83 TPANSFERS BETWEEN FUNDS 11 179,338 117J¢ ,3Pal NET hW)VEMENTIN FUND8 P,6301 11T6h531 21J60 {10,4451 FUND BILANCES AT 1 JANUARY 2024 62.￿6 24,527 176,453 263,846 274291 FUND BALANCES AT31 DECEMBER 2024 11 2n,317 20,1 2K,214 213,848

.* IÉCrfILW i 4•5 KYAs8Er• 314 2j2.3￿ 31181 212J17 11 20m7 178,453 TQTILFUNDS .114 n•J cn lJohiN ol th• Pccty. Il• TBwih

SAINT PHILPS CHAPEL STREET NOTES TO THE ACCOimlTS FOR THE YEAR ENDED 31 DECEMBER 2024 I ACCOUNTr4Q POUCIES IAI Bash ofKwnl Theffinancl 8lalwnents yéparnd In wdirt8 vAth appllcable a￿Unt￿￿ standardo, th8 Chwitth kt 2011 aTrJ tho Stthmnl Gl A￿￿ended Pr8ckn applkat4e Io Ghadlk6 preparkng Iheir wcwnts In KcUrd￿With FRS 1Q2. TM 8wunts han pr8par&J on Iho g￿nll cDr£effl b￿￿1. Trre no matsèl unce￿1￿￿e$ 8Mul the abrity 0)nb.n￿. The carlly ￿ a wtrAlc b8n8filorgJnWth. Ibl FuTrJ J￿nting GeMrl fvThJ8 reprewl the fuThJ8 of h PCC that arg nol Sub￿ lo ￿Y to aTrJ are a￿48b￿ I 8pplalknn on the ggMio1 puw%¥ ol the PCC. Fur¥J& ¢Je8WBtod tr a particular purp030 by the PCC WB IBO Unroth￿. Rttlrtctthl lundg rBpre8enlthe lur￿$ of the PCC that are re8lricbJ lo uee on tyF¢ olfvnd that11 rdates lo. DeBnaled lund8 are lllndB Set A$￿0 by tho ljr 6wolfi&J purpc4e3 kn fMh8rnncé orth• general 0¥￿1546 olhthfly. fijth aro to be used fry iF￿C pu￿¥0& w• Wd dawn by th• donty, Ex￿d￿re m8t8 t1￿¢ erft•rto IJ charggd to the lur. 1¢) Incomfr The fin￿ck91 itatements Ir￿lUd8 all Ir4niaGtKin6, •$¢th Ind Ilabllttkryi forwhlc Ihe PCC11 rn8wmIb￿ Ill liw. T￿Y do nLI Ind￿j• the In8nGlul 8taternnli of ehurth that c¢¥e Ihelr maln aflllaffion to 8nothgr bojy rKsr those th31 we Informal g81herfngB of church rmrnhrn, Incorre18 rncoJnW on I￿ a¢xN818 Wli and & allc¢41¢d tothe oclMtyft¢ N rd8. Id) ExF•ndilure ExF¢ndlluf8 rec£9n￿9￿ on an be￿• al a lloblllly 4 kngJrred.11 I￿￿J￿¢S any VAT GgnrvJl b8 fulty re￿vered. 4nd 16 all￿thd to Ihegctmtyfor %thl(11 rdattt. (•) Fixejj p59elg T8nglbLg flxed as￿ are InM(¥lty rne8¥urnd al G¢41 $ubsequeftUy meagured at C051 LY vJotlcn. net d depretaAlon wd QeweGl&tion18 a8 to wrtte off tho CLt or v8lu&lbn of &￿t5 lesj Ihelr resbu81 ¥8hs o¥w Ihoir useful llves. A lull yewoldepreci)It¢n Is chary8d In th8 patol purchase there afteron the fDII)%wng IMiI8'. Freehold laThJ Nwe Fwho buldlngs and InyitsNem8nt8 T% Btrawl Iln8 IT equ￿nI 20% SIr￿9￿ IIM FumiturE and Xl% 8trhl Ilne Ifj Bal￿ fln8rKhl lffdtrum8nts The eharfty onty ￿terS Into b8$￿ Mattdal in8tNmenl resu￿ in the r•cOgn￿on DI fln￿al a55ets Jnd liqLilrti?$ Ilke Irada and other debtor8, cash al b8nk ￿ ctojilors. Th8se baslc find￿ra1 In51NWts ar• rr4asured and tr8nsackn wce. FlnarKial assets and Ilabililies ¢1855th&138 dueimthln ong ￿ar￿8 not amortised.

SAINT PHILIPS CHAPEL STREET NOTES TO THE ACCOUNTS FQR THE YEAR ENDED 31 DECEIIBER 21124 1 ACCOUNllNG PQLKIE8 {conllnu•d) (gi Perok The chanly kyl￿.￿￿ts5 in the P8Mion 8uld8r 8eCth of t￿ Chufch Wothern Penwi Fund ICWPF) forliy $laff. CWPF 18 admAii81ered by ￿ ChurGh ol Éngland P￿L￿ll Bowd. which hotd$ the CWPF 88seb separatsb from thr& rl Ihe EmF4wr and other p8rtiopating 8mpbyern. CWPF ha8 8eclk)ni.' 1. the Dofin&J 2. POTNI￿ Bui￿l￿d Sch8m8 thkh has sub9￿￿On$, a. a ¢Jefprrod •)nuity £ectSon a8 Pant￿n &JllJ8r Cla88lc, ar b. 8 cash baLIn￿ 8&tkJn knDWI 88 Pensi￿ 8ulder2014 lon ￿lId•r S¢h•m• Jth ¥eGIb￿& of Pen8knn Bullder 4r6 claFFfyJ ¥ dehnod tth)8fi1 &then￿. P•Ml¢n ml¢o1 a F¢n9bn, mmublBd fr￿ ￿n￿bulon# pahl Con¥&￿ into a defmd onnully empbyThnl ba8ed cn terms 8Qt and re¥￿%￿d W Ihe Churth of Ero18￿1 p￿1[¢￿ 8o•TO f￿M to IJK¥elknnary lrtrna888 MAY té othjed. dependir0￿ kn¥estm801 return8 and olherloGtor8. Pwslon Bulld•r t0141$ 8 ¢8sh bn¢e 8ch8me Ihol provldes a 8um mmbern lo thdo ￿ne1￿ at Pe￿1￿ onlributicffl8 aro I￿ord￿j In w Acthunl fof èach momt¢r, C4Bcrelion8ry bonuiey may be •Jded tfjfore (8i1rém8￿l. de￿Ir@ on Inwlrnert returni and cth8rf&rn. The #count, pl￿ any ts￿￿¥81 d#red li pgy&l8. unreduced, from wJe 86. Thore b no sub4lviilon of 888els behen employer8 in eKh ctkin of the Penslffi BulldwSCh8￿, The fj¢hern8 ￿ C￿8￿￿red to bo a mullknpby&r Bcherre 88 de8cilb8d In Seclon 28 of FRS 102 Thlg l• ￿aUSe 111$ Th)1 FQ88Sbb lo ailmbute Ihe PenNv)n Buuder Scfvorne'j 4888t8 and liabl1ll￿ lo ¥p￿Ifls eryby818 and that LxntrlbuUon6 af8 6¢¢wnted for a$11 the &hemè %Yere i dafined wlrlbuikn gtheme. The F4Mlons ch8rged to SOFA in the aro thé fA)nlnbutioni paY3￿(2024., £6,493, 2023,, £7,487), A ￿l￿al￿)n of the PeniSJrt 8ullt&ryr Stheffle b cathed out crt8 every trrt6 >afg. mo81 recent vdu8kn Car￿ afj il 31 De￿mber 2022. FNthe Pw$kM 8U￿￿Yer C&8S￿ sKlon, IK9 valu•ti)n revealed i urF4us ot34.8m M the crfgoiro Ètsurytlons ￿8￿, At the rwl rwenl ￿nUal review etslNe l January &25, the Board ch)ye to g￿1 a discfelionary b)nus of 6.7% tg bolh not yat In Payment and F•ll8iJns In paymenl In respect of 9ervlce prlorto Awm 1¥d7,' ond a br￿u8 ￿ pensic￿5 in payMI In ￿FeEt of posl April 2006 4eNc& 60 that the pen￿0Th incrna8e 2.7% IthlèTè U8ualy be Ca￿￿aled based on nfiafvn up lo 2.5%). ThL8 follmd Improv8mnt8 In th8 lundiw pkigillon 0￿r 2024. Th9r9 h no requlrThnl lor deficit payThnts atthe current th'me. The nexl volu•tion is dwe a• al 31 D8Gember &25. F¢rlhe P8n%N Builder 2014 84cUon, Iha volu8lon rovosbd 8 Sur￿￿5 of £8.5m on the ongc4ng 888umptkJns Thére18 rij reqUIr￿n1 kndeftit payrnent8 al Ilm. The legal gtruclure of the schm Is such thal lanotrrernpknyerlal￿, the chBrily ¢oufd berune re¥on$lbk for pawng 8 *h￿e ol 10

SAIKf PHIUPS CHAPEL STREET NOTES TO THE ACCOUMTS FOR THE YEAR ENDED 31 DECEMBER 2024 2 LEGAL STATUS Thethwtywa& 22 Fetrfuwy 2018 ¥4th tho thrly COMMkn￿ In ENJkn￿J And Wths. Th8 rgJsl¥¢d (fft•ofthe tharfly h St. PhllB Churth. 2 PL•x. S8ffcfd. M3 ￿R. 3 INCOME lIM￿l￿dId ft•￿￿¢tsd Endwm•nl T•tal TLil 2023 I)ONAT10118 AND LEGA¢LE8 PlAnned￿n9 One off oifts CcleLIon8 al GIN aid ￿¢0Y¥•d Donats'on$ from Lyntsbns 174.583 34.016 174, 38.484 2.￿2 46,7CQ 28.633 289,252 151.￿4 33,812 3,977 46,158 542 40,842 257,￿9 31.643 CHARITABLE ACIMTIE8 Ebni Intem tse8 staiutwfe IMtk>M kn klnd 9.173 140 5,313 5,375 1,589 11.rn) 23,￿2 11.398 20,121 8,762 18,840 IPNESTIAENT INCOME Bdnk int¢iest OMdwKID 553 1,861 2,754 2,7S4 5,948 OTrER IPICOME Hire of premffj 9)0 4,579 31.8 4,579 31,843 TOTAL INCOME 298,9 48,4B3 347.451 294,134 11

SAINT PHILIPS CH*gEL STREET NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 310ECEMBER 2024 4 EXPEIICITURE Tthl Totsl 2D23 fund• ¢HARifA&EAcThmE8 Worohip 5J10 ¢OMMUNiri 4,158 12,451 813 17,422 4,158 12,451 813 17,422 5,238 1S,714 Conf8rertffi and ebpnll HoBpltaMy ri,845 Chur( 941 3,038 3,gTT 21,394 Y2,3 3.036 25,371 r2,013 21,351 si,K CEIITIIAL RE￿XIRCEs Fundrakning Kmi youth re8wr N8wWkne Clgathihip YeBr￿nIng offlce 8uihllry njnning coili Repairs and maintenonr S8kdos and %Yges Pen8lc4 SILthnts Trlnlnq Sl8ff attomTryJ•tlc Parith gha F868 r•palJ to dknc4 Aco)unlancy Barnk tharye8 Cl￿￿111 1,482 4,129 4,657 10,666 31,137 29,293 1￿.919 6,493 8,743 10,888 31,137 6.722 10,857 2Q,774 2S,645 114,225 7,487 28,633 127,582 3,045 3,046 2,114 4,739 33,fiXI 1.721 4.￿1 321 3,838 37.028 1,947 8,773 1,410 5,714 242,170 37,026 1,947 8,773 1,410 5,714 271889 30,719 TOTAL EXPENDITURE 268.186 51113 320,998 321,718 In￿d&S ￿thIn xtDJnta)cy ato¥e are arnunts Ihe kndgpgnd8nl ex#mln8r8 in fdalon tr) th• exaffiMOon of £2,580 12023. £10401. 12

SAINT PHILIPS CWEL STREET NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2124 Durfn90 sar the charfly the1ulby￿ll oranlsl of £1.(K¥J or rt)Jre to OrgWith￿.. Dthwe ol Tanzg 2,Qt I EITrLOYED 8TAFF C08TSAND NUMBERS 2024 Saarw ond wagéB EmployeVJ Nl c6st8 ￿n910Th 123,431 4,151 8,493 134,075 110,807 3,418 7,487 121,712 averwè nUrtrOf￿1P afvJ pirtllN•mployo88 dvrfrvJ the ￿r wa6 712023: 41. During the Y￿r, Agnlfflzk8 H8wkn'ni ind Jonei pald I￿￿ne￿Ilen and ￿nefi1$ tot8lHng £26,16512023.' £31.1e8 forA Ha￿￿j), not connectsd to I￿1r ra￿1 g•lN$lg9s. No tnth Tekthrwd •Nwn8ts12023.' n¢ reknJuNd expenseNI. iJilng the year, key mawefflenl pernonn81 pa￿j £24,SM In ialAry and l>)23,' £31,188). Ttrwe no •mployw rom￿r￿￿o￿ th),C(JO or rmire. 7 TANQIBLE A88ET8 IT Furnlturn& prow •qylpm•Rt Tjtal COST Al beqlnnln9 d y•ar Athlftk)M Al end ofyear DEPRECIATILV4 At booinnlw of Char end of y￿r NET BOOK VALUE Al end olyear Al beglnThlng of year 34.132 16,639 50,771 2O),064 29J,835 199.165 199,465 34,731 16,639 27,643 3,563 31,2Q6 16,198 147 16.345 43,841 5.714 49,555 2,U)4 2,iYJ4 197,461 3,525 6,489 441 6,930 6 FIXED A88ET IPIVE8TMEIITS End•￿Int fund G•n•r•l lund Tot•1 Ma¢rf8t valu• ol Inve81menl8 at1 January 2024 DlvkleThJi rthnve¥l8d 01spoBal8 G8inll10861 on revgluollon cl Srbvo¥lrwl 898ets M¥kèt ol Inveslments at 31 Dec*rter 1124 176.453 24.465 20J,918 1,861 1,861 {2,85n 1182,th1 2,915 23,469 1179,3681 2.915 23,469 13

sAJKr PHILIPS CHAPEL STREET NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 • DEBT 2023 Otherdebl￿s Ta¥ recov8rnble Prep&ymnts 1,450 3054 2,088 1095 2,836 5,931 7.392 11 CREDifoR8: Ifflounl• l•lllng du• lthln on• y••r 2024 2023 othgr uedltCrf8 8,818 7,925 11 MOVEIIENT WI FUND8 BAl•nM 1 J•nu4ry 2024 Galnl(loMI on bltswqn 31 D•c•rnb In¢om• ExpDndI￿N￿doWMOThlI nd• A•￿rk￿l fund• Communty Oulrna¢h Nèw OipGiplo$hSp Yèar 8,789 11,5381 14.0861 7,346 914 1,576 1.570 1,576 1.570 SeÈJW Vuln8Mble Prct str8189￿ t)e¥8knprmnl Fund Oulfe￿h fund ACTS436 8898 olHope Prc*t Pearf Ukrakn 11.633 15,1 {11.6331 115,LA)JI 1,e82 10,548 1,912 7,397 16,649 56 I19.￿0) 182 24,527 182 20,B97 48,483 52,113 Endowm•nlfundi Inv8Btsn8Tr1 176.453 176.4S3 2,915 179,3681 2,915 117S.3681 DKlgn•tsd fund• Chowl Tcts Church Plwlln9 Ta￿18￿1￿ lu)d Bu1￿￿1￿9 Redthelwenl Pwerty fund 387 49)) 25,270 2,OtrJ 3,672 9,603 12,ciJOI 14,6201 12,C 19,074 145 199,465 2L19.888 197,461 232,331 31,OCfj 532 31.861 298.438 1259,8111 30,500 39,986 Totsl fund• 282.846 347,451 293214 14

SAINT PHILIPS CTrL4PEL STREET NOTES TO THE ACCOUNTS F(Xi THE YEAR ENDED 31 DECEPABER 2024 11 MOVEIIENT IN FUl￿s IC<)NnNUEDI The IC4￿￿9 &e the T89t￿ 8TrJ 4eslgnatthJ 8￿XIled by ts tharfty.. Communil Outrèach The Communlly Outreach fvnd i¥ foroutreath tAQrt in the communlty pk)M8rfng tha dloadvanlag8d, The New DISCIfvh￿ year li a LX)um fr)r rAopb they fimd th￿58￿￿ aTrJ ie rwtth to r•lng forth8 8XPen￿ olthe cour88, In 2018 we a Hedtagg gr8nl of £10,L>X) a pro￿ tIMd'. Saint Phllps chu￿h.. LovivJ and Servlry a ¢onYNIlty through th•thi war. nPro £5,CQl grant from Soedbed to A nlnlltry to wlnomtrA8 k¥e on Ih•rnets. Th18 +8 knem8 Irom a Cthurc Comrnl$8lonerJ Grnnl to fwd 9oTJry arKI brts Operalrffii Man•aer. Th1$ r8pr85enl6 gr8vI fu￿￿n9 ￿elY&1 lovArd6 the sa18N8 of Dutsogch Man•Jer and Outreach Wcthi. ￿or ￿ reRl%•d £10,0￿ frDm R8nk TN81 and £5,QCQlrom Albert Hulll Trust. Thts repr48•nts lund8 *ich are uged to coverc4st8 of lurnlturn and ulilty bSlb for wulwable lthlleg In ourmmmunty. The8e are lor th8 Baoj ol Nop8 prjlecl clern e68entl￿ gcoJ$ to Ihe hcmdo91 ryk8rs. The Ilure Indude6 1 ¥Blu8 tyawj on in klfva, FuTra8 glventrlhe Pr4Kt Peorl l¢hathy nurnb8T120350ei 4rtyJ pamed on dudng the yo•r. In the small tovm of 06tr0da. pOL￿d, there is a relreal camp called Cwnp C•trOdo In the wak• of the Iraglc wor In Ukrane th8y have takw in 170 Ukrdkni8n fBlwoe5. They we dellb£ring iUFvlieB to tKg 50bJl8rs on the border are tlnging Mpe lTrto tho Ilveg of hundredB of p￿[48. We arn parfnthng }￿th t￿M In bolh p[3￿ and In finonohl supwrt. 15

SAINT PHILIPS CHAPEL STREET MOTES TO THE ACCOUNTS FOR THEYEAR ENDED 31 DECEM8ER 2024 11 MOVEMENT IN FiIIDS ICOMTINUEDI In￿sIrrent FuThl Thkn 18 An en(bwnEnl Irorn the 5a18 of a Sch￿1 In 1973. DurtrKJ the year, me ¢hw¢h pbtsln&Y Irc¢n the Chi C￿MI￿10￿10 SF¢￿1 its in tsrdw to fund the FAJrch88e of 8 IKop&ty. Thlg w89 cowWelgJ In March 2024, expe￿1&n￿ 1he fijll ￿th￿￿ent fund. Chap81 b)t8 * a P4rent and Toddlw Nn vthkh is knded from 1pp￿￿￿￿tefy £1 w p￿8￿ donatbn and li thl fundJ, rch Salnl PhiMp8 Cha￿1 Street kn L>)Mrr0tt￿ to planllng a churth every 3 to 4 years and tsrefore ￿ 8et ￿ld8 a rBgular armunt money In our sathg actounl Lq ro￿￿ed a$ 8Th unrn8trlcted gfft ora 8lart up fvnd lor Iha church plant. TAnzgnla Th14 c¢ffjpri601 fvnth 8•t Alde togl¥e b a Tewfu￿ prolKt In Tanzania. (knr Ihelost lew yeqr8 the thurch has ewerienc4d gbJnTrAnt oThlh Bnd in to enob varDui m5n15￿￿￿ loo￿t￿￿9 M Ihkl tr8￿Ctory Ihe ITu$leu ha¥8 rwnls&J the ￿ed lo rnrkvelop th8 ￿lIding. We are commltted to ralglng the funds through 9￿arlI glviNJ as w•ll a8 by ap￿y￿g lor lUThI￿g ks VI(*￿ organkiillcdi ind charIta￿fr tnJsts. Thgrth ￿ hav& crethd 8 desbthd fuTrl 8u4kling Red8¥ebpnenl Fuftd. Thkn rBpmenlJ the n81 bwkvalue dlhg PTOF•rfy durfrrfJ 2Q24 12 AMALYS18 OF FUND8 Uhrq•lil¢t•d R••trfct•d Endowm•nt nth fun lun Totsl Fundbd8ntss •$ •t31 December2024 affg fvpr•sen18dby.' Tangth fixed B85ets F￿@d a9881 invgslrnents Curwnl 88S6Is Curyenl Iwbllil 201,2SiI 23,469 &8,1&3 18,6181 272,317 1.28D 23,469 77,083 9,619 293,214 20,897 20,897 UTrY•th¢t•d R•thctsd Endowm•rt lundi fund• Totsl 2023 Fund •131 OKerI￿Or2O23 8M rnNaSentedby. Tanglb18 fixed a888ts Flxwj asset inv85bTrrynts Curwenl a$8ets Cunonl Ilatdlit 6,9 24.465 39,3 17,925 62,866 8,930 200,918 63,923 17,925 263.846 178,453 24,527 24,527 178,453 16

SAiiif PHIUPS CHAPEL STREET NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEIIBER 2024 13 COMPARAMVE STATEMENTtht FIIANCIAL ACTMTES FOR THE YEAR ENDED JI DE¢EIIBER 2Q23 Unr#￿Gted Rtstrlcl•d Endowm•nt lund• fund• Tdal 2023 INCQME C¢natiw orxl b)8¢￿ arilBb18 actNtheB OlherlrK¢me 2t18272 7.274 6.448 59,293 12,847 267,￿5 20,121 Tot•1 InMTh• 221,9B4 72.140 294134 EXPENDITURE ,991 84,757 321,748 Total •xpMdltur• 228,191 91,T07 321,741 NET IPKOME I IEXPENDITLMEI BEFORE a￿￿5 AND LOSSES 14.997) la117) 121114) INVESTMENT fAINS 17,169 17,1 NET INCOIAE I IEXPENDITLIIEI BEFORE TRAN8FERS 149971 122,11n 17,1 110.4451 TRANSFERS BETWEEN FUNDS T MOVEMENT IN FUNDS IT,1 110,4151 FUND &4NCESAT1 JANUIRY I)YJ 67,863 47,144 159.284 274,291 FUPID BILAPXESAT 31 DECEMBER 2023 12,081 24827 176AS3 213,146 17

SAINT PHILIPS CHAPEL STREEr NOTES TO THE ACCOUNTS FOR THE YEAR EIKIED 31 DECEMBER 2024 14 hlOVEIIENT111 FUNDS PRIOR YEARCOMPARATNE Ballr¢￿ al 1 J•nu•ry Tr•rwlw¥ B•knc• •t b•lw••n 31 De£imb¢r 2023 kn100sJ)on In¢orn• Exp•ndituff•mlowrn•nl• Rmtrfded lun Cwrnunty ¢)Jlrexh N8w Win8 DiscipbshlpY8ar H8IWe Seedw Vuln•reb wor￿ Pro￿1 StratwJ Lkn•nl Fwd Outreach lund ACTS435 8agB ol Hc Pro Ukralne 9,258 1&19) 15,434) 8,789 3,1 1,576 1,570 1,570 34,881 5,961 1,31Q 2Q,773 5,6n 134,8811 15,961} 1,613 8,120 22,753 118,3451 128,426) 10,548 182 47,144 72,140 194,75n EndoTh•nt funth In¥eth8nl fund 159,284 159,284 97.169 17,169 176,453 171453 Chawl Tots Cthvrch Planllng TanzonLq fund lfig R•JO￿lOp￿nI 147 15.870 1841 25,270 2,000 3,672 31,005 6,072 21,889 12,4 114841 11,FlJJ Q•n•i•l Iwnd• 45,974 221,994 1224,5071 11.8N) 31,e*1 Total fund• 274391 294134 1321,7 17.109 18