Charity Number 1177290 Saint Philips Chapel Street Annual Report & Financial statements for the year ended 31 December 2025
Saint Philips Chapel Street Reference and administration information Charity number: 1177290 Registered office: st. Philips Church 2 Wilton Place Salford M3 6FR Trustees: Paul Brandish James Brown Tizi Burnham Effie Coleman Andreas Fink-jensen Dale Grinsell Sarah Jones Tanja Jones Michael Prout Gareth Robinson Shem Sheikh Abigail Summerton-Brier Meggie Tam Sara Timms Alexandra Uma Alice Yeoman Bankers: CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4LQ Independent Examiner: Adrian Phillip5 FCA Arlo Accountancy Limited 107 Valley Road stockport SK4 2DB
SAINT PHILIPS CHAPEL STREtr TRUSTEE REPORT FOR YEAR ENDED 31 DECEMBER 2025 The trustees of Saint Phillps Chapel Street are pleased to submit this report and accounts for the year ending 31st December 2025. ACHIEVEMENTS AND PERFORMANCE 2025 was the 200th anniversary of the consecration of our church building which we celebrated at a special service on 21st September with guests including the Bishop of Manchester David Walker, our local MP Rebecca Long-Bailey, and Deputy Lord Lieutenant Mary-Liz Walker. We celebrated the'Legècy of Light, and two hundred years of worship and witness in the city of Salford. We also planted a lay-led church in Oldham called 'Connect Church. which meets in the Ioc81 Costa Coffee each Sunday. and celebrated baptisms here on Easter Day and in Oldham a few weeks later. Worship continued here across three services each Sunday, with the early liturgical service growing considerably, with notable growth from the Hong Kong community. We also began Ten Mit)ute Church. a5 part of our drop-in sessions each Tuesday. Our children's groups, weekly drop-in cafe and Foodbank. weekly toddler group, youth group. explorin@ faith courses, and other activities all continued throL)gh 2025. 1057 Bags of Hope were given out, 415 Foodbank vouchers were issued, and 803 individuals including 217 children were fed through food parcels. In 2025, 3 total of 707 referral, signpostin8, Dr support interaetions were recorded from our drop-in. Four Discipleship Year students started tfainin8 here in September. with three on placement In our church and the fourth at a church in Wythenshawe. We already have three 5tudent5 5iEned up to start in September 2026 with others a150 expressing interest. The building redevelopment plans and fundraising continued through 2025, with the Diocese of Manchester supporting this with a svccessful Erant bid for El million towards this work. A submission was made to the Heritage Lottery Fund who have been verbally 5UPPOrtive of the plans, and we hope to hear back in the first quarter of 2026. FINANCIAL REVIEW We entered 2025 with a forecast operating loss of1£20,5621 and thanks to prayers answered through the generosity of our parishioners and miscellaneous grants received, we ended the year with a much- reduced operating loss of1£5,5191. Income forecast was £282,769 but this was substantially exceeded with a total income of £328,088. This includes restricted funds received for Bags of Hope, Alpha and Outreach. Forecast expenditure was £303,332 but with additional expenditure mostly on building repairs and running costs, our final expenditure including dèpreciation ended on £333.607. Factors that contributed to the recovery were mostly due to increased one-off gifts. related Gift Aid, and miscellaneous grants. There were also some recoveries on under-spending on Worship and Staff Costs.
SAINT PHILIPS CHAPEL sfREET TRUSTEE REPORT FOR YEAR ENDED 31 DECEMBER 2025 Below is a detailed summary of negative arbd positive factors affecting Income and Expenditure. INCOME Negative Factors.. We did not receive the budgeted rental income for the DY Student house due to receiving a 3 intern for the period who needed to be accommodated. This had a negative impact of £4,900 however the positive impact on serving jesus, our church and beyond far outweiEhed the financial loss. Income from church building rental was also well below budget by £6,561 due to us not achieving the number of bookings hDped for. Re8ulaf giving & collection at services was under-budget by £4,290. Positive Factors- One-off gifts and related Gift Aid claimed was substantially over budget by £34,525. Income from MISlIaneDU5 grants not budgeted for totalled £9,500. EXPENDITURE Negative Factors.. Building running costs were £15,322 over budget predominantly due to increased costs for building maintenancè and repairs for the ch urch and the DY house. Events, church celebrations & refreshments were £3,763 over budget. Outreach was over-budget by £9.894 mainly due to donations received for Bags of Hope passed on and £2,987 for bibles purchased, once again the benefit far outweighed the financi31 loss. Extern21 Mission is slightly over budget by £550. Positive Factors.. Administration expenses were on budget. Staff and Worship costs came in £6k under-budget. SUMMARY OF CASH FLOW Cash at bank and in hand Debtors Creditors Net current assets Church Plant Fund Restricted Fund Balance Balance Available 80,244 16,953 5850 91,347 144,4701 Balance of funds available does not meet the requirements of our Reserve Policy but is a substant131 improvement from previous years. This is mainly due to the balance of the Investment Fund drawn down.
SAINT PHILIPS CHAPEL STRE TRUSTEE REPORT FOR YEAR ENDED 31 DECEMBER 2025 STAFFING CHANGES Lisle Briggs began full time employrnent as our Administrative and Exetutive Assistant in July Simon Wri8ht became a fLJII-time employee by becoming our Student Worker 3nd Facilities & Events Coordinator in August Alice Mcminn left her role as Youth and Student Worker in ILJIY to work with a Christian charity in the Northeast Kiera Byers was successfully recruited as our Youth and Children's Ministry Coordinator and began work in August RESERVES POLICY This policy was agreed by the Standing Committee in 2021 wlth the Eoal to build reserve funds to cover two month of running costs 2nd three months of salaries. We are not yet in a position to cover this costs but continue to strive towards achieving this. CONCLUSION 2025 Has once again been a very challenging yearwith minimal income from grants. static regulargiving and increased running c05t5. Despite these challenges. we have been privileged to serve God and our cornmunity and eternally grateful for God's Brace in continuing to provi(Je for our needs. We have come to the realisation that we cannot budget any lower on expenditure going forward as it is unachievable. The staff have been extremely responsible and vigilant at controlling and reducing costs as much a5 possible. Expenditure is on a necessary-only basis which is resulting in worship and other equipment becoming increasingly obsolete and unreliable. We are alming to increase income generated from renting the church building for events and have Simon Wright'5 commitment to pursuing further bookings with Light Events and other event companies. Budgeted operating lossfor 2026 is currently £33,8k based on increased regulargiving. realistic building rental income and levels of expenditure. In principle, thi51055 is of serious concern to the PCC and It was agreed to reassess this budget after the first quarter. The degree of measures to be taken to reduce expenditure will depend on the amount of giving received and events bookings forthe church building. SAFEGUARDING The trustees are grateful to Andreas Fink-jensen who Stepped down from his position after three years as our Parish S3feguarding Officer IPSOI. The assistant PSO, Michael Prout, became our PSO and we S3fely recruited Steve Wylie to become our assistant PSO. Michael and Steve monitor any safeguarding concerns and are the key bridge between our church and the Diocesan Safeguarding Advisor's team. The strategy for storing $3feguardinB data in compliance with GDPR laws was implemented in 2025.
SAINT PHILIPS CHAPEL STREET TRUSTEE REPORT FOR YEAR ENDED 31 DECEMBER 2025 VOLUNTEERS The worship and witness of the church is 5UStained by 3 large group of around 105 committed volunteers. Those workinE Wlth children and young people andlor adults at risk are safer recruited with an enhanced DBS check. In 2025 the safer recruitment process was rolled out to cover every team. meaning each volunteer 15 interviewed and is a role description, and references are obtained. srRucfuRE, GOVERNANCE AND MANAGEMENT Saint Philips Chapel Street b part of the Church of England. Leadership of the overall vision and strategy of the church is the responsibility of the Rertor, Rev'd Dr Gareth Robin50n. whilst the governance of the church making Sure we do what we say we're going to do and look after the building etc- Is in the hands of the PCC (Parochial Church Council). The PCC fLJnctions like the trustee board of a charity and meets four times a year. The executive of the board, comprising the Clergy, Church Wardens, Treasurer and Secretary. is the Standing Committee which meets monthly. The PCC is an elected body made up Df people on the Church Electoral Roll. Anyone who has worshiped with us for six months can sign up to be on the Electoral Roll, which 211ows you to vote at the Annual Parochial Church Meeting when we elect new PCC members. PCC representatives are elected for three years, and so each year a third of the PCC is re-elected. The staff team work to implement the vision of the church under the leadership of the Rector and the governance of the PCC.
SAINT PHILIPS CHAPEL STREET TRUSTEE REPORT FOR YEAR ENDED 31 DECEMBER 2025 TRUSTEE5' RESPONSIBILITIES Charity law requires the trustee5 to prepare financial statements for each financial year which give a true and fair view of the State of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In prepBrin8 those financial statements the trustees are required to.. Select suitable accounting policie5 and apply them consistentlv. Make5 judgements and estimates that are reasonable and prudent. Prepare the financial statements on the going conrn basis unless it Is inappropriate to presume that the chanty will continue on that basis State whether applicable accounting Standards and statements of recornmended practice hove been followed. subject to any material departures disclosed and explained in the financial Statements. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure thatthe accounts comply with the Charities Act 2011. They are a150 responsible for safeguarding the assets Df the company and hence for taking reasonable steps for the prevention of fraud and other irregularities. This report ha5 been prepared in accordance with the Statement of Recommended Practice applicable to charities preparing their account5 in accordance with the Financial Reporting Stand8r(i applicable in the UK and Republic of Ireland IFRS 1021. Approved by the PCC on 16 March 2026 and signed on its behalf by-. M5 T Burnham Trustee Mf P Brandish Trustee
St Philips Chapel Street Independent Examiners report for the year ended 31 December 2025 Report tothe trustees of St Philips Chapel Street I report on the accounts of the charity for the year ended 31 December 2025 set out on pages 8 to 23. Respective re5POn51bSlltles of trustee5 and examlner The charity'5 trustees are responsible for the preparation of the accounts. The charitvs trustees consider that an audit is not required for this year under section 144 of the Charities Act 20111"the Charities Act") and that an independent examination is needed. The charity's gross Income exceeded £250,CX)O and 13rn qualified to undertake the examination by being a qualified member of the Institute of Chartered Accounts England and Wales IICAEWI. It is my responsibi1tty to.. examine the accounts under section 145 of the Charitie5 Act. to follow the procedures laid down in the general Directions given by the Charity Commission lunder section 14515llbl of the Charities Act, and to state whether particular matters have come to my attention. Basts of Independent examlnerfs statement My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, 3nd seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given a5 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 examlnerfs statement In connection with my examination, no matter has come to my attention.. l. which gives me reasonable cause tts believe that. in any materi31 respect, the requirements.. to keep accounting records in accordance with section 130 of the Charities Act.. and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities 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. Jdcia•7 RAilliFS Adrian Phillips FCA Arlo Accountanry Limited 107 Valley Road Stockport SK4 2DB 2510312026
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Saint Philips Chapel Street Balance sheet as at 31 December 2025 Note 2025 2024 Flxed a55ets TanElble assets Investments 13 14 195,968 201,280 23.469 Totsl flxed assets 195,968 224 749 Currerrt assets Debtors Cash at bank and in hand 16,953 80,244 7,392 69,691 Total current assets 97,197 Uabllltles Creditors.. amounts falling due in less than one year 16 15,8501 {8,618J Net current a55ets 91.347 Net assets 287,315 293 214 The fund5 of the thirity. Restricted funds Unrestricted funds 17 18 16,725 270,590 20,897 272,317 Totsl charity fvnds 287,315 293.214 The notes on pages 10 to 23 form part of these accounts. Approved by th C on 16 M8rch 2026 and signed on their behalf by.. Ms T Burnham ITrusteel Mr P Brandish (Trusteel
Saint Philip5 Chapel Street Notes to the accounts for the year ended 31 December 2025 ACCountia policies The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financi?1 statements are as follows: a Basls of preparatlon The financial staterftents have been prepared in accordance wrth Accounting and Reporting by charities.. Statement of Recornmended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FR5 1021 issued in October 2019 - (Charities SORP IFRS 1021. the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. Saint Philips Chapel Street meets the definition of a public benefit entity under FRS102. Asset5 and liabilities are initially recognised at historical cost or transaction value unles5 Otherwise stated in the relevant accounting policy note. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £ sterling. b Judgments and e5tlmates The trustees have made no key jLsd@ments which have a significant effect on the accounts. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have 3 significant risk Df causing a material adiustment to the carrying amount of assets and liabilities within the next reporting period. c Preparation ofthe accounts on a golng con¢em basls The trustees consider that there are no material uncertainties about the charity's ability to continue a5 a going concern. d Incorne The financial statements include all transactions, 3ssets and liabilities for which the PCC is responsible in law. They do not include the financial statements of Church groups that owe their main affiliation to another body nor those that are informal gatherings of church members. Income is recognised on the accruals basis and 1$ 311ocated to the activity for which it relate5. Donatlons In klnd Donated goods are recognised as income when the charity has control over the item. any conditions associated with ihe donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP IFRS 1021, general volunteer time is not recognised." refer to the tru5tees' annual report for more information about their contribution. 10
Saint Philips Chapel Street Notesto the accounts forthe year ended 31 December 2025 {¢ontlnued) f Interest receivable Interest on funds held on deposit is included when receivable and the 3mount can be measured ieliably by the charity,. thi5 is norm311y upon notificatiori of the interest paid or payable by the Bank. 8 Fund accountlng General funds represent the funds of the PCC that are not subject to any restrictions as to their use and are available for application on the general purposes of the PCC. Designated funds are unrestricted funds of the PCC which the trustees have decided at their discretion to set aside to use for 3 specific purpose. Restricted funds are donètions which the donor has specified are to be solely used for particular areas of the PCC'S work or for specific projects being undertaken by the charity. h Expendlture and Irrecoverable VAT Expenditure is recognised once there 15 a legal or constructive obligatior) to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Irrecoverable VAT 15 charged as a cost against the acrivity for which the expenditure was incurred. l Tangible fixed a$5ets Tangible fixed assets are init1311y measured at cost and subsequently measured at cost of valuation. net of depreciation and any impairment losses. Depreciation is reco8nised so as to write off the cost or valuation of assets less their residual values over their useful lives. A full year of depreciation Is charged in the year of purchase and there after on the following bas15'. Freehold Land Freehold buildings 3nd improvements IT Equipment Furniture and fitting5 None 2% straight line 20% straight line 20% straight line
5alnt Philip5 Chapel Street Notes to the actounts for the year ended 31 December 2025 (continued) FL¥ed asset investments Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the c105ing quoted market price. The statement of financial activities includes the net gains and losse5 arising on revaluation and disposals throughout the year. The Chari(y doe5 not acquire put options, derivatives or other complex financial in5trurnents. k Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. I Cash at bank and In hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a Short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Creditors and provlslons Creditors and provisions are recognised where the charity has a present obligation resulting from 3 past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions ale normally recognised at their settlement amount after allowing for any trade discounrs due. n Flnancial Instruments The charity only has financial assets and financial liabilitie5 of a kind that qualify as basic financial Instruments. Basic financial instruments are initially recognised at transaction value and subsequentlv measured at their settlement value with the exception of bank loans which are subsequently measLtred at amortised cost Using the effective interest method. o Penslons The charity participates in the Pension Builder Scheme section of the Church Workers Pension Fund ICWPFI for lay staff. CWPF is administered by the Church of England PenSlDns Board, whlch holds the QAIPF assets Separately from those of the Employer and other participating employer5. CQPF has two sections.. l. The Defined Benefit5 Scheme 2 the Pension Building Scheme whish as two subsections a, a deferred annuity section known as Pension Builder Classis: and a cash balance section known as Pension Builder 2014 12
Saint Phllips Chapel Street Notes to the accounts for the year ended 31 December 2025 {¢ontlnuedl o Pension5 Icont....) Pension Builderscheme Both sections of the Pension &uilder Scheme ore classed as defined benefit schemes. Penslon Bullder Classic provide5 a pension, accumulated from contributions paid and converted into a deferred annuity during employment based on terms set and reviewed by the Church of England Pensions Board from time to time. Discretionary increases may also be added, depending on investment return5 and other factors. Pension Bullder 2014 is a cash balance scheme that provides a lump sum which fnembers use to provide benefits at retirement. Pension contributions are recorded in an account for each member. Discretionary bonuses may be added before retirement, depending on Investment returns and other factors. The account, plus any bonuses declared is payable, unreduced. from age 65. There 15 no sub-division of assets between employer5 in each section for the Pension Builder Scheme The scheme is considered to be a multi-employer scheme as described in Section 28 of FR5102. This is because it is not Possible to attribute the Pension Builder Scheme's assets and liabilities to specific employers and means that contributions are accounted for as if the scheme were o defined contribution scheme. The pensions Costs charged to the SOFA in the year are the contributions payable £5,864 12024.. £6,493). A valuation of the Pension Builder Scheme is carried out once every three years. The most recent valuation was carried out as at 31 December 2022. For the Pension Builder Cla55ic section, the valuation revealed a surplus of £34.8m on the ongoing assumptions used. At the most recent annual review effective l J3nuary 2026, the Board chose to grant a discretionary bonus of IO% to both pensions not yet in payment and pensions In payment in respect of service prior to April 1997,. and B bonus on pensions in payment in respect of post April J997 service so that the pension increase was also IO% (where usually it would be calculated based on inflètion up to an annual cap of S% for pensions in payment in respect of service prior to April 2006 and 2.5% for pensions in payment in respect of service post April 20061. This followed improvernents in the funding position over 2025. There is no requirement for deficit Payments at the current time. For the Pension Builder 2014 section, the valuation revealed a surplus of £8.5m on the ongoing assumptions used. There is no reouirement for deficit payments al the current time. The neKt valuation is due as at 31 December 2025. The legal structure of the scheme is such that if another employers fails, the charity could become responsible for paying a share of the failed employer's pension liabilities. Legal status of the charlty The charity was registered on 22 February 2018 with the Charity Commission in Englané anrj Wales The registered office of the charity is St. Philips Church, 2 Wilton Place, Salford, M3 6FR 13
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Salnt Phlllps Chapel Street Notes to the axounts for the year ended 31 December2025 l¢onUnuedl Anly4s of exFeThJlture on tharitable K¢Mtk9 Unrestricted Restricted Total 2025 Unre5trirted Re51rirted Toto12024 ChafftableAcbvit5 Worship 4,068 5.316 5.316 CornmwRy Refreshments Conferentr 8nd event5 05Pltalty 5,225 18.285 2,510 26,020 5.225 J8.285 2,510 26.020 4.158 12,451 813 17.422 4.158 12,451 813 17,422 Mlssbn Church Grants 1.116 3.171 4,28? 25.473 26.589 3.171 29.760 21,394 22,335 3,036 25.371 3,036 5,977 25.473 21,394 Central fte50ur 1,4C6 L343 1,406 1343 1,483 1.4182 1.209 Kldsand youth resource5 Newwine Dis¢ipleship Year trainin8 General office Buikling runnin8costs Repair5 and mainttnance Salarie5 Wages Pensbng siudents 5,507 10.096 21,188 46,853 113.143 5,863 1,197 1.626 6C 36.771 1.354 7.663 1.696 5,212 261,618 2.113 7,620 10,096 23,288 46,853 123.143 5,863 1225 1,626 4,657 10,666 31,137 29,293 JW.949 6,493 369 3,045 8.743 10.666 31.137 29.293 127,582 6.493 369 3,015 10.000 26,633 28 Par15h Share Fees repaidto Dictrse Atcountancy Bank charges DEpreciaiion 36,771 1.354 7,663 1.696 5,31Z 273,759 37,026 1,947 6.773 1,410 5,714 242.170 37.026 1.947 6.773 1.410 5.714 272,889 12.141 30,719 295.993 37,614 333,607 268,BX5 52,JlS 320,998 16
Salnt Philips Chapel Street Notes to the accounts for the year ended 31 December 2025 Icontinuedl Net Incomellexpenditurej forthe year This is stated after charging.. 2025 2024 Depreciation Independent examiner's fee 5,312 2.400 5,714 2,640 Stsff costs Staff costs during the year were a5 follows.. 2025 2024 Wages and salaries Social security costs Pension costs 120,459 2,674 5,864 123,431 4.151 6,493 128,997 134.075 No employe has employee benefits in excess of £60,00012024.. Nill. The average number of staff ernployed during the period was 612024.. 71. The average full time equivalent number of staff employed durinE the period was 4.3212024: 4.841. 10 Trustee remuneration and expenses, and related partytransactlons During the year Agnieszka Hawkins and Sarah lones were paid remunèration and benefits tot8llin8 £11,89612024.. £26,1661. This was not connected to their roles as trustees. No trustee was reimbursed expenses12024.. nill. There are no donations from related parties which are outside the normal course of business and rio restricted donatlons from related Darties. No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity, including guarantees, during the year12024.. nill. 17
Saint Philip5 Chapel Street Notes to the accounts for the year ended 31 December 2025 Icontlnued) 11 Grants During the year the charity made the following grants of £1,000 or more to-. 202S 2024 Anglican Diocese of Morogoro, Tanzania People International Limited 1.000 J,000 1,000 12 Corporation tsx The charity ig exempt from tax on income and gains falling within Chapter 3 of Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charBe5 have 2ri5en in the charity. Flxed assets: tsngible assets Freehold Property Furniture & Fittings equipment Total At l January 2025 199,465 34,731 16,639 250,835 At 31 December 2025 199,465 34,731 16,639 250,835 Depreciation At l January 2025 Charge for the year 2,004 2,940 31,206 2,225 16,345 147 49,555 5,312 At 31 December 2025 4.944 33,431 16,492 54,867 Net bookvalue At 31 December 2025 194,521 1,300 147 195,968 At 31 December 2Q24 197,461 3,525 294 201,280 18
Saint Philips Chapel Street Notes to the accounts for the year ended 31 December 2025 (continued) 14 Investments 2025 2024 Market value at rhe start of the year Dividends reinvested Disposals at carrying value 23,469 163 123,6321 24.465 1,861 12,857) Market value at the end of the year 23,469 Investments at fair value comprised.. Investment funds 23,469 23,469 Invesiments are all carried ai fair value and are all traded in quoted public mzrkets. 15 Debtors 2025 2024 Tax Recoverable Trade debtors Other debtors Prepayments and accrued income 5,128 7,440 3,854 1,450 2,088 4,385 16,953 7,392 16 Credltors: amounts falling due within one year 2025 2024 othÈr creditors and accruals 5,850 8,618 5.850 8.618 19
Saint Philips Chapel Street Notes to the accounts for the year ended 31 Decernber 2025 (continued) 17 Analysls of movements In restrictsd fijnds saiance atl January 2025 Balance at 31 December 2025 Income Expenditure Transfers Community Outreach New Wine Discipleship Year Heritage Seedbed vulnerable Women Project Outreach Fund ACTS4356 Bags of Hope Project Pearl Ukraine lust Sow 7,346 14,9881 2,358 914 1,576 1,200 12,1131 1,576 1,570 1,570 10,000 iio,0001 1.912 7,397 1,912 8,154 18,583 2,659 17,8261 12,6591 182 182 972 1,000 1281 Total 20,897 33,442 137,6141 16,725 Comparatfve perlod aiance atl Januarv 2024 Balance at 31 December 2024 Income Expenditure Transfers Community Outreoch New Wine Discipleshlp Yeor Heritage Seedbed vulneroble Women Project Strategic Development Fund Outreoch Fund ACTS4356 Bogs of Hope Project Peorl Ukraine 8, 789 95 {1,538J 7,346 5,000 (4,086) 914 1,576 1,576 1.570 1,570 11.633 15,000 50 16,649 56 111,633) 115,OOOJ 1,862 10,548 1,912 7,397 {19,800J (56J 182 182 Total 24,527 48,483 (52.113) 20,897 20
Saint Phillps Chapel Street Notes to the accounts for the year ended 31 December 2025 (contlnuedl 17 Analysi5 of movements in restrltted funds Icont....) Name of restrltted fund Descrlptlon, nature and putpose5 of the fvnd The Community Outreach fund is for outreath work in the local community and Community Outreach pioneerinE ministry to the disadvantaged. New Wine Discipleship The New Wine Discipleship year is a course for young people which they fund Year themselves and which is restricted to payin@ for the expense5 of the course. In 2018 the PCC received a Heritage lottery grant of £10,000 towards a project titled.. Saint Phllips Church-. Loving and Serving a community through the first world war. Heritage Seedbed vulneiable Women Project £5,000 grant from Seedbed to start a ministry to vulnerable women who live and work on the streets Strategic Development This 15 income from z Church Commissioners Grant to fund salary and oncosts Fund for the Operations Manager. Outreach Fund This represents grant funding received towards the salaries of Outreach Manager and Outreach Worker. In 2025 and 2024 we received £lO.O(KJ from the Joseph Rank Trust and £5,OJO from the Albert Hunt Trust in 2024. ACTS4356 This represents funds which are used to cover costs of furniture and utility bills for vulnerable families in our community. These are funds for the Bags of Hope project which offers essential goods to the homeless and sex workers. The figure Includes a value placed on donations in kind. Ba85 of Hope Project Pearl Funds given for the Project Pearl Icharlty Number 12035061 and passed on in year. In the small town of Oslroda, Polhnd. there Ss a retreat camp called Camp Ostroda in the wake of the tragic war in Ukraine they have taken in 170 Ukrainian refugees. They are delivering Supplies to the 501diers on the border and bringing hope into the lives of hundreds of people. We are partnering with Ukraine Jvst Sow Fundin8 for worship nights 21
Saint Philip5 Chapel Street Notes to the accounts for the year ended 31 December 2025 Icontinuedl 18 Analysis of m*)vement In unrestricted funds Balance atl January 2025 Asat31 December 2025 Income Expenditure Transfers General fund Designated funds: Chapel Tots Church Planting Building Redevelopment Property fund AIDha 39,986 292,612 1287,4671 111,1601 33.971 S34 15341 34,870 9,600 44,470 1,500 13,0601 IS,3121 1,560 197,461 192,149 3,000 3,000 272,317 297,646 1296,3731 270,590 Comparatfve period 113iance atl January 2024 Asat31 December 2024 Income Expenditure Transfers General fund Designated funds: Chapel Tots Church Planting Tanzania fund Building Redevelopment Property Fund 31,861 298,436 1259,8111 130,5001 39,986 63 25.270 2,000 387 14501 9.600 34,870 12,0001 3.672 145 14,6201 12,0041 803 199,465 197,461 62.866 298,968 1268,8851 179,368 272.317 Analy51s of movement In unrestrtcted funds IconL...} Name of unrestrlrted fund Descrlption, nature and purposes of the fund General fund The free reserves after allowing for all designated funds Chapel tots 15 3 Parent and Toddler group we run which is funded from an approximately £1 per person donation and is self funded. Chapel Tots 22
Saint Philip5 Chapel Street Notes tothe accountsforthe year ended 31 December 2025 (continued) 18 Analysls of movement in unrestrfrted fvnds Icont....) Saint Philips Chapel Street is committed to planting a church every 3 to 4 year5 and therefore we Set aside a regular amount of money in our savin8 account which is released as an unrestricted gift or a start up fund for the church plant. Church Planting Tanzania fund This Compri5e5 funds set aside to give to a Tearfund project in Tanzania Building Redevelopment Over the last few years the church has experienced significant growth and in order to enable various ministries to continue on this trajectory the trustees have recognised the need to redevelop the building. We are committed to raising the funds through general giving as well as applying for funding to various organisation5 and charitable trusts. Therefore we have created a de51Rnated fund. Property Fund This represents the net book value of the property purchased in 2024. Alpha Funding to run Alpha courses 19 Analysls of net assets between funds Unrestricted funds Restricted funds Endowfnent funds Total 2025 Tangible fixed assets Net current assetsllllabilitlesl 195,968 74,622 195,968 91,347 16,725 Total 270,590 16,725 287,315 Comparatfve perlod Unrestrirted funds Restricted funds Endowment funds Total 2024 Tangible fixed assets Fixed asset investments Net CLirrent as5ets/lliabilities1 201,280 23,469 47,568 201,280 23,469 68,465 20,897 Total 272,317 20.897 293,214 23