PHtLBEACH GARDENS EARtS COURT KENStNGTON LONDON SW5 9EB OF THE PAROCHIAL CFfuRCH COUNCIL FOR THE YEAR ENDED 31 DECEMBER 2022 1182543 The Clergy House 50 Phjlbeach Gardens tnndon SW5 9EB Bamkers National Westminster Bank Ple &)uth Kensington Station Branch 18 Cromwell Place London SW7 2LB ]nde dent Examiner M B Boydell FCA Boydell & Co Chartered Accountants 146B Chiswick High Road London W4 IPU
THE PARISH CHURCH OF sr curHBERT WtTH ST MArrHIAS REPORT OF THE PAR(ThtAL CHURCH COUNCIL FOR THE YEAR ENDED 31 DECEMBER 2022 A registered charity (number 1182543), bong part OE the Chureh of Englamd in the DiceSe of London, Kensington Episcopal Area, Archdeaconry of Middlesex. The Parish is under the Pastoral Jurisdiction of the Bishop of Fulham under the London Plan and" Alternative Episcopal Oversight" was Tequested on 5th MaTch 2017. The Parochial Chureh Counal presents its Annual Report with the finanaal statements for the year ended 31 Docember 2022. PRINCIPAL ACTIVITY St Cuthberfs PCC has the responsibility of ccpoperaling w>th the Vicar. in promoting in the ecclesia.stical paTish the whole mission OE the thCh, pastoraL evangelistic. s(xial and ecumenical. It also has responsibilities for the maintenance and upkeep of the buildings and contents of the Church and The Philbeach Halls complex. MEMBERS RUSTEES Members of the PCC are either ex-officio. CoPted or elected by the Annuaj Parochial Church Meeting in accordance with the Church Representation Rules. The last AFCM was held on 08 May 2022 and durins the calendar year 2022 the following served as members of the KC. Ex-officio members Vicar.. Churchwardens.. The Reverend Paul Bagott Prof. N J B Green MT P A Hills Deanery Synod Representative: Mrs E Gomez (Chairntsn) (also Hon. Treasurer) Elected members Mr B Troop Mr B E Parsons MrPkntt MTS N Faddul Mrs J P Llewellyn Ms G Nichols Mr R Drake (PCC secretary) (elected Ilth Cktober 2020) (elected 16th April 2021) ( elected 8th May 2(Y22)
THE PARISH CHURCH OF ST CUTHBERT WTfH sr MATfHIAS REPORT OF THE PARCThIAL CHURCH COUNCIL FOR THE YEAR ENDED 31 DEMBER 2022 COMMITTEES The PCC also operates through three conimittees which meet between its full meetings. THE STANDING cOE This is the only conimittee requiied by law. It has the power to transact the business of the PCC between the meelings thereof subj'ect to any directioThs Ven by the Council. MTSSION AND OUTREACH COMMITfEE The committee members attend to the ministy of the parish church to the local community of Earls Court and see.ks ways of Teaching out to people by distributing leartets to homes and hote15 advertising the major festival services OE Easter, and Christnias. Also the members see to the matter of welcoming newcomers to Church services and anange for all members of the congregation to be invited to refreshments after the sung services on Sundays and n)0r festivaIs. MUSIC AND UTURGY COMMrrrEE The ConuDittee members under the direction of the Vicar discuss Musical and LitUTgical matters relating to Church Services throughout the year and what As required of the Director of music, the organist and choir. REVIEW OF THE YEAR The full PCC met six times during the calendar year 2022 when reports were Teceived from the Vicar, Churchwardens and the Hon Treasurer. Reports were also received on the matters of the Church Primary School and Chelsea Deanery Synod. CHURCH ATTENDANCE There were 118 members on the electoral roll as at 31 March 2022 of whom 49 were resident in thèparish (42%) and 69 were non-resident {58%). The usual Sunday congregations numbered around 55 but larger numbers attended the 50T festt.vals tILroughout the year. There were two deaths during the year. The weekly attEndance has begun to improve since the period of lockdown and there is a steady increase of new and regular members attending. The Church Services continue to be live streamed attracting some 100/150 on-h'ne attendees.
THE PARISH CHURCH OF ST cirrHBERT wfrH MATTHtAS REPORT OF THE PARCKHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31 DECEMBER 2022 coNrNuED FNANCIAL RESULTS FOR 2022 For the yeat ended 31st December 2022 there w&8 a Defiot of £413 made up of a deficit of £263 on the unrestricted fund and a deficit of V_50 on the restricted (Church Restoration) fund. RISK MANAGEME The trustees continue to monitor the risks to which the Churdi and the Philbeach Halls are oxposed and mitigate these risks with appropriate policies and practices. parttcularly in relation to the safeguarding of Lliildren & Vulnerable Adults, Premises and Cash. RESERVES POLICY The unrestricted reserves at 31 December 2022 were £ 85,919 (excluding the Ithilbeach Halls freehold property which is tncluded in the accounts at a valuation of £ 5.425O16). It is PCC policy to niaintain a balance on free reserves of at least 3 months unrestricted expenditure which i.q e.qtimated at around £50,(KM). More work needs to be done to nInts1n this level and this is now a priority for the Trustees. THE CHURCH sCHL The Vicar És an ex officio Governor of St Cuthbert with St Matthias ChuTch of England Primary &hool in Warwick Road, Earls Court, and one other member of the PCC is also a Govemor. The PCC supports the school in many ways and there is a very strong link between Church and h0O1. CHURCH RFSTORATION FOrnatelY. in 2021 the P was able to repay the SLun of £15.LKiO off the loan of £ 35,(X)O to the Diocese which was provided towards the renewal of the nave roof many years ago, and it is hoped that £10,000 annual repayments can conts.nue in future years until the loan is repaid in full. The Church boileT was Tcplaced after Ihe major flooding in July. TheTe has been some other small items to be replaced and repaired due to the flood. The organ was damaged in parts and we are still continuing these repairs. ,Some repaiT8 to the SME spires at the Eastend of the Church were carried out by the Steepleiacks when the Lighting Conductor was fixed.
REPORT OF THE PAR(KHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31 DECEMBER 2022 CONTINUED CHARrrABLE ACTIVITY The PCC gtves some small grants through lent appeals, and other aCtities. The f(S of support for charities is through the availability of the Church preniises for community and chaTity fundraising. Thi5 has included support for Age UK Kensington, St Cuthberfs primary schooL ChTiStmas Carol Service for St LazarLiS charity for leprosy, Christian Aid. Alcoholtcs Anonymous. The community of Sant Egidio, St. Cuthberfs Centre. and Matys meals. THE PHILBEACH HALLS TRUST The Vicar and the PCC are joindy the administrative trustees of the Philbeach Halls Trust and they manage the Ixiildin& receive the income and pay the expenses therefrom. This building provides an important part of the ChuTch's mission to EaTIs Court and beyond by the letting out of the premises to Registered ChaTities which offer much needed help to those suffering from illness. poverty and disttess. St Cuthbert's Centre (Re'stered Charity Number 803638) is a Day Centre for the poor and homeless providing inexpensive hot meals, advice and recreation etc., five days a week. The project, which operates from the main Church HalL ori8inated in 1987 thanks to the vision OE Father Kirkpatrick, who sadly died on 4th lanuary 2018. Victim SLipport Kensington & Chelsea is a Registered Charity independent of the Church which PTovide8 he.lp ana support for those people who are Victin of cr1ll within the Royal Borough. Its counsellin8 roOn10f£Ices are situated in the Lower Phxlbeach Hall. Rental income received from our property enabled a grant of £105,tm to be nde to the PCC in 2022 to c.over tho shortfall of general income for the rUrIng of St Cuthberfs Church . This continucd financial holp is vital for the future of the parish church. On beha]f of the Parochial Church Counol The ReVerd Paul Ba 23 April 2023
THE PARISH CHURCH OF CLryHBERT wrfH sr MATfHtAS RESPONSIBILTllES OF THE MEMBERS OF THE CHURCH COUNCIL Charity Law requires the members of the Church Council to prepare financial statenients for each finan(ial year which give a tNe and fair view of the state of athirs of the charity and of the Tesults for that year. In preparing those finaTh(ial siatell1ts. the memiErs aTr required to: select suitable aecotLThting poliaes and then apply them consistently. make iudgements and estimates that are reasonable and prudettt; comply with the applicable accounling standards subject to any niaterial departures disdosed and explained in the finan statements: and prepare the financial statements on the going concern basis unless itis inappropriate to Presume that the d]arity will continue in operation.
FOR IHE YEAR ENDED 31 DECEMBER 21)22 TOTAL FUNDS Unrestricted Restrictsd TOTAL TOTAL FunLts Funds 2022 2021 2022 Notes INCOMING RESOUR Voluntary income Other voluntary incomin8 resources Income from thuTch activlties Income from investtnents 2{a) 2(b) 2(c) 2(d) 39,923 IO73 40,996 55,670 2,500 130,777 131.735 13 131,735 18 TOTAL INCOMING RESOUR 171,671 IlJ78 171749 188,947 RESOURCFS EXPENDED Raising funds Church activities 3(a) 3(b) In,¥J4 1228 IT3,162 I6084 TOTAL RESOURCES USED In,934 1228 IT3,162 160584 NE[ INCOMING/(OLrrGOING) RESOURCFS TRANSFERS BEWEEN FUNDS (263) (150) (413) 28?63 (263) (150) (413) 28 SURPLUS ARTSING ON THE REVALUATION OF TANGIBLE FIXED ASSETS 11&5) 753594 75394 317,898 753231 50) 753181 346,261 BALANCFS BROUGFfT FORWARD AT I IANUARY 2022 4,758.404 (71660) 4M5,744 4239,483 BALANCES cARRD FORWARD AT 31 DECEMBER 2022 S11735 (T2FIO) 5.438,925 4h85,744 The notes on pages 8 to 13 fonn part of these accounts.
THE PAIiJSH CHURCH OF ST cufHBERT wrrHsf MATfFItAS BALANCE SHEEr AT 31 DECEMBER 2022 Notes 2022 2021 TANGtBLE FIXED ASS5 Freehold propety &5) 5A25016 4fi72,222 CURIiENT ASSETS Debtors COIF deposit accounts Cash at bak Cash in hand (6) 8,130 1,900 28,033 200 1,919 23,696 38,263 LtABILrriES: AMOUNTS FALLING DUE THIN ONE YEAR (25339) (24,741) NET CURRE ASSEfs/(LIABILITIFS) 13,109 13.522 TOTAL ASSETS LESS LIABILITIES 5A38.925 4,685,744 NET AssFrs £ 5.438,925 £ 4,685.744 FUNDS Unrestiicted Restricted (8) 5511,735 r12£10) 4,758,404 (72,660) £ 5.438,925 £ 4,685,744 Approved by the Parochial Church Council on 23 ApIil 2023 and signed on its behalf by The Reverend Paul Ba (ChaIrll) PTOE. N J B Green (Churchwarden and Honorary Treasurer) The notes on pages 8 to 13 forni part 0£ these accounts.
NOTES TO THE FINANCIAL ATEmE[S FOR THE YEAR ENDED 31 DECEMBER I)22 AccouwfING POLTCIES The financial 8tatements have been prepared in accordan WAth the llTch Accounting Regulations 2006 together with applicable accounting stsThdards and the Charities SORP 2015. The financial statements have en prepared under the historical cost convention except for the valuation of freehold property (the church halls) which is shown at the trusteeg valuation (based on the insurance valuation at 31 Dmber 2022). The accounts include all tramsactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe theÉr nlain affiliation to another body nor those that are informal gatheiings of church members. Funds Unrestricted funds represent the funds of the PCC that are notsubj.ect to any restrictions regar(lllig their use and are avaiIable for application foT the general purposes of the FCC. Funds designated for a particular purpose are restricted. Incomin Resources Voluntary income and capital SOUTces. Collections are recogTused when received by OT on behalf of the PCC. Planned giving receivable under Gift Aid is recognid only when received. Income t&Y recoverable on Gift Aid donations and church co]lections is recognised when the income is received. SaEes of goods and magazines from the church booklall are accounted for gross. Other ordinary income Rental income from the letting of church hall premises is rwised when the rental is due. ncome from investinents DivideThd5 and interest are accoltea foT when receivable. Tax Tecoverable on such ineome i8 recognised in the same accounting year. Gain5 and losses on investments Rea]ised gains or losses are recOlsea when investments are sold. Unrealised gaiDS or losses are aecounted foT on revaluation of invesiments at 31 Decenther. Resources used Grants Grants and di)nations are accounted for when paid over. Activities directly relating to the work of the Church The diocesan common fund quota is accounted for when due.
iu FOR THE YEAR ENDED 31 DECEMBER 2022 ACCOUFMNG POLICIFS Continued 'bIe Fixed assets Consecrated and benefiee propety is not induded in the aLtounts in accorda with s.10(2){a)and (cl of the Charities Act 2011. No value is placed on movable church furnishings held by the churchwardens on special trust Eor the PCC and whtch require a faCty for disposal since the FCC considers this to be inalienable propety. All expenditure jnciLrT during the year on COnsated or benefice buildings and movable church fumiskngs, whether DIntenatte or impTovement is written off as expenditure in the SOFA and separately disclosed. No cost inforniatiim is available for the church halls, so they are included at a deemed cost by the trustees on 31 December 2022 (based on the insurance valuation . Current assets Amounts owing to the PCC at 31 December 2022 in respect of fees, rents or other income are thown as debtors less provisi¢)n for amounts that may prove ll)llectab1e. INCOMING RESOURCES Unrestricted Restrirted Funds Funds TOTAL TOTAL 2022 2022 2021 21a) Voluntary income Planned giving.. Glft Aid Tax recoverable OtheT ChuTth Collections Donations and concert tskings Hire of Church LEgacy I266 4,137 192 5A57 5,919 11.152 12566 4,137 192 5,457 6,992 11,152 500 21103 8,497 317 3,708 7,940 10,105 3,000 39,923 40,996 55.670 2(b) Other voluntary incoming re80uxces Grants Fund Taising eVts 2500 2500
io. FOR THE YEAR ENDED 31 DECEMBER 2022 INCOMING RFSOURCES Continued Unrestrirted Restrirted Funds Fun¢ls TOTAL TOTAL 2022 2022 2022 2021 2(c) Income from church artie8 Bookstall Property iettings- (Rent & service charges) Fees - funerals and weddings 131.206 529 131,206 529 I2974 1,203 131,735 131.735 130.T77 2{d) Income from investment8 Dividends and interest includJn8 any reclaimed tax 13 18 TOTAL INCOMING RESOUR 171,671 I8 172,749 188,947
ii. THE PARISH CHURCH OF ST CUTHBERT W[ ST MATFHtAS FOR THE YEAR ENDED 31 DECEMBER 2022 RESOUR EXPENDED UnrestriL*ed Restiicted Funds TOTAL TOTAL 2022 2022 2021 2022 3(a) Rai8ing Funds: Stewardship exper6es 3(b) Church aetiVAtAe8: Donattons to charitsble organisations Diocesan Common Fund Clergy expenses Incumbents working expenses Upkeep of services Repairs and maintenance Choir fees DiTertor OE musAC and organlsts, fees Music expenses Organ and piano tuning and repairs Insuran PTemiums Flowers and decorations 600 30,000 45,0(K) 400 195 1.979 15.224 12,110 13,862 1,837 2,442 19,587 866 9375 3,375 606 2,682 2,192 445 1,843 3,978 964 54 18,610 4.103 4.252 10395 13,715 867 4A08 20264 1570 S9 4103 4252 10395 13,n5 867 4408 20264 1570 5259 7,978 418 3,770 2,684 541 1,251 4,750 1802 ElectrAaty Water Furniture and equipment Refreshments and catering expenses Travellins expenses Council Tax Clean3ng Telephone Advertisements Administration ]ndependent examinerfs report and accountancy fees Bar& charges ]nterest on loan account Legal and professional costs Organ Restoration eXpeS 418 3.770 541 1251 IA02 13,933 23,933 6,104 525 6,104 525 453 5,898 511. 369 10,980 453 775 775 In,934 IT3,162 160.584 TOTAL RESOURCFS USED £ in,934 £ 1,228 £ 173,162 £ I6084
12. THE PARISH CHURCH OF ST CUTHBERT wfrH ST MATTHIAS NOTES TO THE FINANCIAL STATEMENTS FOR THE IEAR ENDED 31 DEMBER 2022 TRUSTEFS EMOLUMENTS AND STAFF CCB15 No emoluments were paid to Trustees during the year and there were no related paty transactions with any Trustees. Gross salaries paid in 2022 were £27,625 (2021 £ Z7640) and s(Kial security costs were £ Nil (2021 £ 723}. No employee received remuneration amounting to more than £60,(KK). TANGIBLE FIXED ASSETS 2022 2021 Freehold property.. (Church halls) Deemed cost.. Balance at l January 2022 Surplus on revaluation 4.672,222 753594 4354,324 317,898 At 31 December 2022 £ 5,425,816 £ 4,672,222 DEBTORS 2022 2021 Income tax recoverable Less; Adjustment 2020 Written off 12.633 8361 (231) £12,633 £8,130 LIABILITtES.. AMOUNIS FALLING DUE WITHIN ONE YEAR 2022 2021 Sundry creditOTs/accrnals Other creditors Other creditOTs/loans London Diocesan Fund 4,741 360 20,OCKJ 20,000 £ 25?39 £ 24,741
13. coNrllquED FOR THE YEAR ENDED 31 DECEMBER 2022 Fund movements: Churth RestOTatson Fund (Restricted Fund) 2022 2021 Balance at l January 2022 Incoming resources Re80urces expended (70) I78 228) (90,289} 22,760 15,131) Balance at 31 December 2022 £ {T2BIO) £ {72,660) sis of net asseL8 b fund: Unrestrictsd Re8triciEd Funds Total 2020 Tangible fixed assets (Freehold propety) Current assets Liabilities.. Due within one year- Diocesan and other loa Loan from unrestrirted fund accoTmt to restricted fund account re 2iJ)5 churth restoration commitment 5A25F16 28,419 5,425,816 5,050 33,469 (360) (360) (20,000) (20,0) 575NI (s700) Fund balances £ 5511,735 £172,810) £ 5,438,925
14. INDEPENDENf EXAMINER'S REIVRT TO THE FAR(KHtAL CHURCH COUNCIL OF THE PABJSH CHURCH OF ST CHBERT wfTH sr MAH[As ered Chari Number 1182543 This Teport on the accounts of the PCC for the year ended 31 December 2022, which are set out on pages 6 to 13. is in respect of an examination carrted out in accordance wlth the Church Accounttng Regulations 2006 ("the Regulations") and s.145 of the Charities Act 2011 ("the 2011 Act"). Res ective res onsÉbilities of trustees and examiner As members of the PCC you are Tesponsible for the Preparation of the accounts.. you c(msider that the audit requirement of the Regulations and section 144(2) of the 2011 Act does not apply and that an independent examination is needed. It is my responsibility to: exan)ine the accounts under section 145 OE the 2011 Act, and the Regulations: to follow the procedures kn'd down in the general Directions Ven by the Charity Commission under section 145(5)(bl of the 20JI Act,. and to state whether particular matters have come to my attention. Basis of this re orl My examination was carried out in acrordarKe with the General DIreCtior given by the Charity Commission to be Eound in the Church guidance 2(K16 edition. That examination indudes a review OE the accounting records kept by the PCC and a mPariS0n of the accounts with those records. It also includes considering any unusual items or disclosures in the accounts and seeking explanations from you as trLiStees conceming such matters. The procedures undertaken do not provide all the evidence that would be required in an audi¢ and consequently T do not express an audit opinion on the view given by the accounts. Inde endent examinerfs statement In connection with my examination. no matter has come to my attentio ) which gives me reasonable cause to believe thal in any material r&spect the requIrnts to keep accounting Tecords in accordance with section 130 of the 2011 Act; and to prepare accounts which accord with the accounting Tecords and to comply wlth the requirements of the Act and the Resulations have not been met. or to which, in my opinion, attention thould be drawn in order to enable a proper understanding of the'accounts to be reached. M B Boydell FCA Boydell & Co Chartered Accountants 146B Chiswick High Road London W4 2PU 2023
(JIARtrY OF THE REVD HENRYWEsfAtL FOR THE POOR (Registered (]thrity no." 248IT2) Tntees. The Vicar and chUrchward ofStCut]kn's ChuTch ACCOUNfs FOR THE YEAR FNDED 31 DE(MBER 2022 For the year ended 31 December 2022 22 2021 Income Dividends from investments 161 156 Re-valuation of investment as at 31 DeCern 2022 (5621 enditure Charitable disbursements 012) IDeficit)/Surplus for the year £ (674} £935 BALAN SFIEET As at 31 December 2022 XJ22 2021 Acclunulated fund Opening balance IDefÉcit)/SuLplus for the year 8369 (674) aosing balance £ 7fj95 £ 8J69 Assets Investment at valuatson Cash at bank 5A13 2282 6,136 £ 7fj95 £ 8369 The investhient is 262 Income shares of the Central Board of Finance of the Church of England tnvestment Fund. The market value at 31 Decejnber 2022 w&8 £5A1312021.. £6,136). Approved the Trustees on and signed ontheirithlfby The Reverend Paul Ba80tt- Trustee Prof. N.I.B Green- Trustee
(Registered Chlty No: 211274) Tru8tees: The Vicar Churchwardens of St Cuthberfs Church ACCOUW15 FOR THE YEAR ENDED 31 DECEMBER 2022 For the year ended 31 December 2022 2022 2021 tncome Dividends from Investllnts 170 166 Re-valuation of investtnent as at 31 Decem 2022 804 (580) 970 endlture Charitable disbursements (Defiat)/Surplus for the year £ (580) £970 BALAN SHE As at 31 December 2022 2022 2021 Accumulated Fund Opening balance (Defiat)/Swplus for the year 8,951 (580) 7,981 970 aosing balance £82n £ 8.951 Assets Investment at valuation Cash at bank 5,700 2,6n 6A50 2501 £8Jn £ 8,951 The investment is 314.07 Income Units of the COIF Charities Investment Fund. The market value at 31 December 2022 was £5.700 (2021: £6.450). Approved the Trustees on and signed (n their i*halfby Ll The Reverend Paul ott. Trnstee Prof. N.J.B. Green Trnstee