Charlty registration numbèr: 1182791 The Parochial Church Council of St Paul, Deptford Annual Report and Financial Statements for the Year Ended 31 December 2024 Field Sulllvan Limlted 9 Hare & Billet Road London SE3 ORB
The Parochial Church Councll of St Paul, Deptford Contents {contlnued Reference and Admlnlstratlve Details Trustees, Report 2to7 Independent Examiner's Report Statement of Financial Activities Balance Sheet io Note5 to thè Financial Statements Ilto18
The Parochlal Church Councll of St Paul, Deptford Reference and Admlnlstratlve Detalls Trustee5 Revd Fr Paul 8utler, (Rector and Chairl Cynthia Addokwei Derek Amoo lan Bhullar Vidal Eghan, lalso Deanery Synod Member) Lavern Ford, Ichurthwardenl Christopher Hvmphries, (Honorary Secretary} Olive Nèlson Estelle Nzouzi Linda Pan Nick Richards, (Honorary Treasurer) Stacey Sancroft-Homiah Andrew Taylor, Ichurchwardenl 1182791 Char6ty Reglstratlon Number Prlntlpal Offke The ParSsh Church of S. Paul, Deptford Crossfield Street off Deptford Hi8h Street London SE8 3DS Ind•pendent Emamlner Field Sullivan Limited 9 Hare & Billet Road London SE3 ORB Bankérs HSBC UK 85 Lewisham Hlgh Strèet Lewisham SE13 6BE PagÈ I
The Parochlal Church Council of St Paul, Deptford Trustees, Report The trustees present the annual report together with the financlal statements of the charity for the year ended 31 December 2024. AIMS and purposes The Parochlal Church Council of thè *Parish of S. Paul, Deptford, I"PCC"I, has the responsibility of co-operatlng with the Rertor, Father Paul Butler, in promoting the whole mission of the Church in the parish,. this includes, pastoral, evangelistic, social and ecLtmenical. Oblectlves and A£tlvlttès Thp Rector and the PCC of S. Paul'5 agreed the Pafish's Mission prSorities in the 2017 Mission Action Plan.. "l. Keep the worship of God at the centre of everything we do,. 2. Servè the people of Deptford, and beyond 3. Encourage the full participation and growth of every church member" When plannin8 the parish's activities in the past year, the Rector and PCC have had the above prForities always In mind. In so dolng, they belleve that they havè applied the Charity CommSsslon's guidance on public benefit and in particular its specific guidance on charities for the advancement of religlon. To facllltate the woik of the parish, it is important that the PCC maintains the fabric of the church of S. Payl, whtth Is a Grade I listed building and one of thè finest examples of Early En81ish Baroque ecclesiastical architecture in the country. The PCC is fully committed to fulfilllng Its legal responsibilities for Health and Safèty and also to the vital work of Safeguarding. We have a Safe8uarding Team that meets regularly, and we follow the policles and procedures of the Diocese of Southwark. Achlevements and PerformBn The Cent of Parish lifÉ rÉvolves around the Daily Mass and publlcly lebrated Morning and Evening Prayer. Worshlp at thecentre oleverythlng whleh S. Poul s does The traditional Anglo-cathollc ParSsh Mass, with its music, prO$S1On$ and ritual on Sunday mornings attracts diverse, multt-ethnic tongregation, of about 65 people in church, including approximately 12 children. It 15 Important to note that there 15 a diverse and ever-ehanging congregation of more than 150 people of all ages attènding at least once a month. People are attf3tted to S. Paul's for a multitLtde of reasons, including our mix of catholic worship, choral music. intellectual engaBernent, and pastoral care, solemnit¥& diverslty, Incluslvlty and frlendship. At the 2024 APCM held on May 25th 2024 there were 109 on the Church Elertoral Roll, the vast majDrity of whom Ilve in Deptford. The Sunday morning congregatSon Includes people who are on the Roll and many people who are not. The attendance increases at festivals and this often intludès a number of vlsltors. Page 2
The Parochlal Church Councll of St Paul. Deptford Trustees, Report (contlnued) There is also a daily Mass, and daily Morning and Evenlng Prayer every week from Tuesday to Saturday, which the Rector and PCC regèrd as the foundatlon of all the work and servicè of thè parish church and absolutely critical for the mission of God in Oeptford. Members of the dlverse community of Deptford attend these seryices. The church is open for all the services. Accordingly at regular times throughout the day, casual visitors are able to enter the church, either tts join the service5, or to pray and rellect quietly in the church. Pastoral encounters frequently follow the services, when the cle18y are able to asslst people who are in spirltual or physical need, or who are asking for baptisms, weddings, or funerals. We have maintained our hybrid approach to publlc worshlpj and have contlnued to broadcast the Sunday Parish, and all major weekday servlces, to reach the broadest participation. Muslc plays an important MIÈ in the life of S. Paul'5 featuring the Magnificen of our organist and Dirertor of Music, Mr William Parkinson and our choir, S. Paul's Singers. We have one of London's finest pipe organs (made by Wllliam Drakel and It is played to great effett by our organlst and assistant-organlsts to accompany our bl-weekly Sunday and FestSval Choral Masses whlch are very popular, as is our now annual choral tarol service Imorè than 200 at this years, service), and has brought many new people from the community Into the Ilfe of the church. As well a5 the regular services, the Rector and PCC enable the communlty to celebrate and thank God at the milestones of the journey through life. Through baptism the community thank God lor the gift of new life and reloice at the conversion of adults to the faith, in marriage public vow5 are exchanged with God'5 ble55ing, and through Requiem Masses and funeral serviees, family and frlends express their Erief and glve thanks for the life, whlch Is complete in this world and ¢ommend the person into God's sale keepin8. S. Paul's celebrated S baptisms 11 child, 4 advltsl, I weddin& and 2 church Funerals, 3 burials of ashes in the churchyard memorial garden. and 6 adult Holy Confirmatlons. S. Paul's offers education in the Christian faith through a variety of means; homilies and sermons at every Mass, and the Omega Course, a weekly online dlscussion Broup for Chrlstian educatlon. Strvke to thtpeopleof Deptfvrd Reference Is made to the sèttion above on worship, which outlines the way in which the worship of S. Paul's serves the community in Deptford, by providing daily Masses. The daily offlces and the pastoral offices thus enable considerable splrltual and pastoral support to be Èiven to the community. Also our largè and well rnaintainèd churchyard Is a source of much community engagement and where people are able to enjoy peace and santtuary in the midst of a very challenglng It)ner city area. S. Paul's Parlsh takes In the heart of the Deptford Community, one of the most diverse nelghbourhoods In London in terms of ethnicity which is fully represented in our congregation. Ivs a communSty wlth a higher than avèrège population of younger peoplè and multiple economic deprivation, Dèptford rg a rnaturè, complex and fascinatinB place of joy enèrgy and struggle. In the latest statistical analysis provided by the Church Urban Fund from data update include recent census 2021, parish botjndary 2023 and index of multlple deprlvatlon 2019 data, o¢Jr parlsh of S. Paul, Deptford has moved from belng the 773rd to the 704th most multlply-deprlved parish out of thè 12,329 parlghes In England, where l is the most deprived. This means that our parish is one of the most deprived in the country, and in the highest 6%. There are very hi8h levels of social exclusion. https.'Ilcuf.or8.uklparish/370206 Page 3
The Parochlal Church Councll of St Paul, Deptford Trustees, Report (contlnued) We have the highèst Child poverty rate wlthin the Diocese of Southwark at 34%, and the 241st hi8he5t in thè country,. there are extremèly high rates of pensioner poverty at 44%, the 129th hlghest In the country; and workin8 agè poverty 24%, ranked 538th in the country. As lar as we can discern from the nèw data we now rank as the 3rd m05t deprivèd parish in the Diocese, previously we were 5th. Deptford. a fomier dock area on the River Thames, is thè northernmost area of the London Bofough of Lewlsham, Southeast London. TherÈ 15 a high density of population and predominantly social housing150%1 Sn high and low rise estates. The maln artery and centre of life of the Parlsh is Deptford High Street, which reflett% the dlversity of its ethnic and cultural communities through its shops, cafés, restaurantsi pubs, and services. There 15 a vTrbrant and Èrowing creative arts sector, related in part to the nearby Goldsmith's University, Trinity Laban Conservatolre of Music and Dance, wlth artists. studios and gallerie5 In former industrSal buildings. S. Paul's take5 part In varlous local festivals and community events. There are many small and entrepreneurial businesses. Deptford is under immense pressure and is a wntested community. It Is a working class community in the midst of housing private (Jèvèlopment, housing re8eneration and rapld gentrification. It is currently the m05t highlighted 'cool and hip, nelghbourhood in London, and popular with hipsters, creatSves and new businesses. barl, tafè5 and restaurants. The housing issues hrehli8ht the inequalities between the very poorest and destitute and some who are vÈrv wealthy. There is great p(IvertV diveislty and constant change, instabilitV precarlous and transient lifestyles. rapid social change, social cleènsin& immlgratlon ralds and even new tourlsm. S. Paul's seeks to engage wlth the issues, which arÉsè from thls context in a variety of ways. We 5UPPOrt the work of local orÈanisatlons that help people rebulld lives that have been damaged by homelessness, mental Illness, drug or alcohol abusè and soclal exclusion. We work with a range of local partners who offer a wlde range of supporL advlee, trainin8 and practical help. We also made a glft at Harvest to the Lewi%ham Churches for Asylum Seekers. S, Paul's Is one of the founder members of thè ecumenlcal bodyi Deptford Churches Together I"DCT°l. The Rector is the current Chair. The Cler and laity of the member chur¢hÈs mèet regularly to share experiences and Ideas, to forward the mission of God to the community of Deptford. The Parish Mission Action Plan IMAP) was revlsed In 2017, ft states, 'we, the Christit7n community of S. Poul s Deptford, wormly welcome oll people of goodwill. Worship fjnd prover, in the cotholic trodition, ore at the heurt of ourlifv ond this inspires tsnd sustolns our commitment to 50cialjustice us on inclusivei Porticipottsry congregotion.. The PCC membership is made up of people from a wide varièty of national and ethnic backgrounds and reflects wèll the 75% black mlnorSty ethnlc IUKMEI composition of the congfegation, including both Churehwardens, and 60% PCC Members. The congregation 15 roughly 50% wtsmen and 50% men. The Serving Team Is made up of adults, vovth and thTrldren, both male and female and fully representative of all dlvèr51ties. The PCC has not adopted anv of the statutory resolutions against women priests. The church seeks to celebrate and maintain the tfadltional inclusivlty and dlvèrslty of the Angllcan Communlon. Th4s is refletted in every level of participation at S. Paul's. There are many roles for membèrs of the church to participate In Sts life and worship as lay officers, PCC members, sèrvers, readers, intercessors, cleaners, tleanlng and maintènance tasks for people, safe8uardlnE officers, sides people etc. These roles are fillèd by many mèmbers ofthe community. Page 4
The Parochlal Church Council of St Paul, Deptford Tru5tees' Report (contlnued) Herltage A5 inditated above, S. Paul's Is a Grade I listed buildlnB and Is a fine example of Early English Baroque archltecture. The building accordingly attrarts a grèat deal of interest and tourlsm. The church is not only open before, durin and after public worship, but Is also opèn at other tlmes by arrangement for visits by students and enthusiasts of architecture, for other visitors. In addition the church is hired for audio and vlsual recordlngs. We host occasional profe5slonal recordingsi Students of dance and of film also hire the church from time to time, and we have facilitated many architectural visits, includlnÈ for academic and research purposes. S. Paul's is licensed for public performances and for the performance of In-copyright works of muslc. Flnally, S. Paul's, whlch was consecrated irh 1730, seèks to assist Èenealogists in thelr research, through advice in it5 webslte on the location of parish records and in answering other queries. Thames TEdeway Tunnèl and the S. Paul's Development Plan S. Paul's is located next to a key and major construction 51te for the largest ongolng Infrastructvre project in Europe, thè Thames fidèway Tunnel I'super sewerfl now reaching completion. S. Paul's Church has bÈèn the most 51gnificant Grade I listed building affected by thè entire project, which stretthes from west to east London. Thè slte Is beside the south side of the church, on the green between Coffey, and Crossfleld, Streets. Due to the major impact this construction site has upon the Church, an Asset Protection Agreement between S. Paul's PCC and Thames Tldeway has been In place, with a variety of mitigation rnea5ures tts protect and monltor the herttage and fabric of the church and also to enable the work and mission of S. Paul's as a Parish Church. The Tideway Project overran its original tlmescale and is now @xperted to be completed in 2025, rather than In 2020. Works will bè ongoing for at least the next year, causin8 disruption to everyonè in the viclnity and addltlonally affect our hlfing income. The agreement with Thames Watei, negotiated by the Rettor and S. Paul's legal advlsor has protected the parish from risks 3SSOCtated with this prolect. There are also major dèvelopments upcomlng such ès the "Crossfields Masterplan", which also signifitantlv involves the church and churchyard. This is currently being worked out and will see major changes to the environs èround the church followlng the completlon of the Thames Tideway Tunnel in 2025. S. Paul's is also currèntly embarking on a redevelopment project aimed at consolidating the conditlon of the bullding, and developin8 It from a single usage, either worship or large hlring activity into a multi-use space to be ble to support future missionary and commercial actlvities. Strurturetr Èovern•n¢e and management Nature of governlng document The Parochial Church Councll is a corporate body established by the Church of EnBland. The PCC operates under the Parochial Church Councll Powers Measure. The PCC is a Registered Charity 11182791 wlth the Charlty Commisslon for England and Wales). The appointment of PCC members is govèrned by and set out in the Church Rèpresentstion Rules. Page S
The Parochial Church Council of St Paul, Deptlord Trustees, Report Icontinued) Trusteès and officers The trustees and offIrS seThSng during the year and since the year end were as follows: Trustees: Revd Fr Paul Butler, (Rèctor and Chairl Cynth13 Addokwel DÈrek Amoo lan Bhullar Wllliam Dawe5 Ireslgned 31 May 20241 Vidal Eghan, (also Deanery Synod Memberl Lavern Ford, (Churchwardenl Christophèr Hvmphries, (Honorary Setretsryl Ollve Nelson E5tellÈ Nzouii Llnda Pan Nlck Rlchards, IHonoraryTreasurer Alex Roberts, lalso Deanery Synod Member) Iresi8ned 31 December 20241 Stacey Santroft-Homiah Andrew Taylor, IChur¢hwardenl Youth Voltes for the PCC: Joy Okobi Michael Addo William Dawe5 didn't seek re-election in May 2024 and Alex Roberts resiBned in Dember 2024. Flnandal revlew Pollcy on reselves WÈ try and keep a significant amount of reserves (about two years of our diocesan contributions) to 8uard against income shock5, unexpected maintenence in our Grade I listed bulldln8 and investment in our development project although the PCC doe5 not have a specific reseTve5 policv. Funds The balèn¢e of unre5trl¢ted PCC funds at 31 December 2024 was £245,98012023.' £222,983) and restricted funds amounted to £270,45712023.' £270,4571, giving a total funds balance at the end of the year of £516,437, tompared wlth £493,440 the year before. Page 6
The Parochlal Church Councll of St Paul, Deptford Trustees. Report (contlnued) Prlnclpulfundlng sources Our positive financlal p051tSon relies heavlly on compensatlon from the fideway Tunnel project and investment income on our reseives. The Tideway projèct Is experted to continue for the next few yeais but Investment income cannot be relSed upon for consistent contributions as it is driven by the wlder business cycle. Investmentpolky ttndobjettlves The valuè of investments Increased by £18,890 in the year to £247,540 at 31 December 20241 primarily reflecting the movement in equity markets during the year. Statement of Trvstees, Respon51bllltles The trustees are responslble for preparing the trustees, report and the Ilnancial statements in accordante with the United Kingdom Accounting Standards Iunlted Kingdom Generally Attepted A¢ntIng Practlcel and applicabl law and regulations. The law applitable to chaylties requlres the trustees to prepare finantial statements for each flnanclal year whith Bive a true and fair view of the statÈ of affair5 of the charity and of the Incoming resources and applicatlon of resources of the charlty for that period. In preparin8 these financial statements, the trustees are required to.. select sultable 8¢¢0Lsnting policies and then appty them con5iStentlv,' observe the methods and p¥lnciplès in the Charities SORP,. make judgements and estirnates that are reasonable and prudent,. state whether applicable accounting standards have been followed, subjÈct to any material departurès distlosed and explained in the financial statements,. and prepare the financial statements on the going concern basis unless It Is inappropriate to presume that the charity will contlnue in business. The trustees are responsible for keeping proper accounting records that dlsclose wth reasonable accuracy at anv time the financlal position of thè tharity and enable them to ensure that thÈ financial statements tomply with the CharStSes Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitutlon. The trustees are also re5ponslble for %èfeBuarding the assets of the chafSty and hènce for taking reasonable steps for the preventlon and detectlon of Iraud and other iiregularltles. The trustees are responslble for the maintenance and integrfty of the corporate and flnanclal Informatlon intluded on the charitable company's webslte. Lesislation governing the preparation and dlssemlnation of financial statements may differ from legislation in otherjurisdictions. The annual report was approved by the trustees ofthe charity on14 May 2025 and signed on Its behalf bv: Revd Fr Paul Butler Trustee Page 7
The Parochlal Church Councll of 5t Paul, Deptford Independent Examlner's Report to the trustees of The Parochlal Church Councll of St Paul. Deptford I report to the charity trustee5 on my examination of the accounts of the charity for the year ènded 31 DecembÈr 2024 which comprlse the Statement of Financial Activitles, the Balance Sheet and related notes. This report is rnade solely to the charlty's trustees, as a body. in accordance with section 145 of the Charities Att 2011. My work has been undertaken so that I might state to the charitvs trustee5 those matters l am required to state to them in thls report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees ès a body, for my work, for this report, or for the tspinions I have formed. Responslbilltlès and basls of report As the charity trustees of The Parochial Church Coun¢il of St Paul, Deptford you are responslble for the preparatlon olthè accounts in accordano w6th the requirements of the Charitie5 Act 20111'the Act'l. I report in respect of my examSnation of the The Parochial Church Council of St Paul, Dèptford's accounts cariied out under section 145 of the 2011 Act and Fn carrying out my examination I have followed all the applicable Directlons glven by the Charity Commission under sÈction 14515llbl of the Act. An independent Èxamlnatlon does not 5nvolve gathering all the evidénce that would be required In an audlt and consequently does not cover all the matters that an audltor conslders In glvlng their opinSon on the financial statements. The planning and conduct of aft audit goes beyond the Ilmited aSSUTance that an independent examination can provide, Consequently l express no opinion as to whether the financial statements present a 'true and fairf vlew and my report Is Ilmlted to those speclflc matters set out In the independent examinerfs statement. Independent examlnerfs statèment I have completed my examination. I confSrm that no material matters have come to my attention in connection with the examinatlon gSvlnÈ me cause to believe that in any material respect.. l. accounting records We not kept in respect of The Parochlal Church Counc51 of St Paul, Deptford as requlred by sectlon 130 of the Act., or 2. the financlal statements do not accord with thts5e ordS,. or 3. the flnanclal statements do not comply wlth the a¢¢ounting requirements concerning the form and content of accounts set out In the Charities (Accounts and Reports) Regulations 2008 other than any requlrement that thé accounts give a 'tfue and fair view, whlch Is not a matter considered as part of an indepèndent examination. I have no concern5 and have comè across no other matters connettion with the examination to which attention should be drawn in t report in order to enable a proper understanding of thè accounts to b8 reached. rim Sullivan FCA Field Sulllvan Llmited 9 Hare & Blllet Road London SE3 OR8 go May 2025 Page 8
The Parochial Church Councll of St Paul. DeptFord {Registration number: 1182791} Balance Sheet as at 31 December 2024 2024 2023 Note Current assets Dèbtors io 7,979 247,540 269,003 9,111 228,650 263,447 Investments Cagh at bank and in hand li 12 524,522 501,208 Credltoys: Amounts fa115n8 du• wlthln one yeai 13 18,0851 17,768} Net assets 516,437 493,440 Funds of the tharlty. Restrltted Income funds Restricted funds 270,457 270,457 UnresttlctÈd Incom• fund5 Unrestricted funds 245,980 222,983 Total funds 14 516,437 493,440 The financial statemenii on pages 9 to 18 were approved by the trustees, and authorlsed for issue on 19 May 2025 and signed on their behalf bv.. f.P,(&Q- Revd Fr Paul Butler Trustee The notes on pages IJ to 18 form an integfal part of these financial statements. Page 10
The Parochlal Church Councll of St Paul, Deptford Notes to the Flnanclal statements for the Year Ended 31 Dember 2024 I Charlty status The charity is domiciled In England and Wales. The church's address 15: The Parish Church of S. Paul, Deptford Crossfield Street off Deptford High Street SE8 3DS Registered office.. elo St Paul's Rectory MaryAnnGardens Deptford London SE8 3DP 2 Accountlng polSd•s Statement of compl13ncè The financial statements have been prepared in accordance with Accounting anfl Reportlng by Charltles.. Statement of Recommendèd Practice applicable to charities preparlng their accounts in accordance with the Financial Reporting Standard applitable In the UK and Republlc of Ireland IFRS 1021 leffectlve I january 20191 (Charities SORP IFRS 1021 Setond edltlon October 20191, the Financial Reportlng Standard appllcable in the UK and Republit of Ireland IFRS 1021. They also comply with the Companies Act 26 and Charitles Act 2011. Basls of preparatlon The Parochial Church Councll of St Paul, Deptford meets the deflnltion of a publlc benefit entity under FRS 102. The accounts Ifinancial statemènts) have been prepared under thè hlstorical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notelsl to these accounts. Going tontern The trustees consider that there are no materlal nrtaIntIeS about the charlty's ablllty to continue as a going Contern. Page 11
The Parochlal Chuith Councll of St Paul, Deptford Notes to the Flnanclal Statements for the Year Ended 31 Dember 2024 (contlnuedl Judgements and key source5 of e5tlmatlon uncertalnt¥ In the applicatlon of the charity's accotsnting policles, the trustees are required to make judgernents, estimates and assumptions about the carrying amount of assels afid liabilities that are not readily apparent from other sourcès. The estimates and associated assumptions are based on hlstorlcal experiÈncÈ and other factors that are considered to be relevant. Actual re5uIt5 may differ from thÈsè estimates. The estimates and underlying assumptions are ieviewed on an ongolng basls. Revi51ons to atcounting estimates are recognised in the periods in which the estimate is revised where revisions affects only that period, or in the perSod of the revrslon and future periods where the ievisions affects both current and futvre periods. Income and endowments Voluntary income including donations, glfts, legacies and grants that provlde core fundlng or are of a general nature is recognlsed when the charity has entitlement to the income, it Ss probable that the income will be received and the amount can be measured with sufficient reliability. Donatlons undlegacles Donations and lÈgaciÈs are recognised on a iÈteiv3ble basis whèn receipt is probable and the amount can be reliably measured. Grants recelvuble Grants are recognised when the charlty has an entitlement to the funds and any condStSons Ilnked to the grènts have been met. Where performanee condltions are attached to the grant and are yet to be met, the income is reco8nisÈd as a liability and included on the balantè 5hÈÈt as deferred income to be released. Invèstment Intome Dividends are reiogni5ed once the dividend has been dèclared and notification ha5 been received of the dividend due. Expendlture All expenditurè is recognised once thèrè is a lègal or constructive obli8ation to that expenditure, it is probable settlement is required and the amount can be measured re15ably. All costs are allocated to the applicable expenditure heading that a8gregate similar costs to that category. Where costs cannot be directly attributed to partlcular headings they have been allocated on a basis consistent with the use of resources, with central staff tosts allocated on the basis of timè spent, and depretiation char8es allocated on the portion of the asset's vse. Other support costs are allocated based on thÈ Spread of staff costs. Chorltuble octlvltl Chaiitable expendlture comprises those costs incurred by the chaTlty in the delivery of its activities and servlces for its beneflclarles. It includes both costs that can be allocated directly to such a¢tlvities and those costs of an ind1Ct nature necessary to support them. Page 12
The Parochial Church Council of St Paul. Deptford Notes to the Flnancial Statements lor the Year Ended 31 December 20241continued) Support Costs Support tosts Intlude cèntral functions and have been allocated to activlty cost cate8orles on a basls conslstent with the use of resources, for Èxample, allo¢atin8 property cost5 by IIOOT areas, or per tapita, staff costs by the time spent and other costs by their usagè. TèJEatloYb The charlty is consldered to pas5 the tests set out in Para8raph I Schedule 6 of the Flnance Act 2010 and therefore it meets the dèflnition of a charitable company for UK corporation tax purposes. Accordinglyi the charity 15 potentially exempt from taxation in respect of tnctsme tsr capital gains recetved wlthln categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of thè Taxation of ChargÈable Gains Act 1992, to the extent that such income or Éains are applied èxelusivèly to charitable purposes. Currènt asset Investm8nts Current asset Investments are included at the lower of cost and net realisable value I market value. Trade debtOT5 Trade debtors are amounts due from customers for merthandise ld or services performed In the ordinary course of business. Trade debtors are recognised initially at the transattlon price. They are subsequently measured at amortlsed cost uslng the effectlve Inte51 method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objettivè evldence that the charlty will not be able to cc*llect all amounts due accordin8 to the orlginal terms of the rèceivables. Cash and tash equlvalents Cash and cash equivalents comprise Cèsh on hand and call deposits, and other short-term highly liquid investments that a readlly convertible to a known amount of tash and are subjèct to an insignif(cant risk of change in value. Fund structurè Unrestritted Income funds are general fund5 that are available for use at the trustees distretion in furtherance of the objectives of the charity. Restrlcted Income funds are those donated for vse in a particular afea or for speciflc purposes, the use of whlch Is rÉ5trictèd to that area or purpose. Page 13
The Parochlal Church Councll of St Paul. Deptft)rd Notes to the Flnanclal Statements for the Year Ended 31 December 2024 Icontlnued) 3 Income from donatlon5 and leÈaclès Unre5trlctèd funds General Total 2024 Total 2023 Donatlons and legacies; Collections GSft ald reclalmed 12,413 5,233 12,413 5,233 18,573 6,322 Grants, intludlng capStal grants; Listed Places of Worship Planned giving 444 33,470 444 33,470 30,149 51,560 51,560 55,692 4 Investment Income Unrestrlcted funds Genèrgl Total 2024 Tgtal 2023 Interest receivable and slmilar Income,, Interest receivable on bank deposits 4,903 4,903 3,252 S Other Income Total 2024 Total 2023 Thames fideway Tunnel 107,560 6 Expendlture on charltable actlvStSes Page 14
The Parochlal Church Councll of St Paul, Deptford Notes to the Flnanclal Statements for the Year Ended 31 December 20241continued) Total 2024 Total 2023 Quots paid to Diocese Clergy expenses Sanctuary expenses Church running expenses Muslc 22,203 2,056 3,743 15,349 102 21,060 1,578 1,400 13,008 331 Church maintenance 2,998 5,905 7,925 7.467 Support costs 52,356 52,769 7 Analys15 ol support costs Support costs Total 2024 Total 2023 Telephone and fax PiTrnting, postage and ststlonery Computer software Independent examinatlon Bank charges 1,079 2,475 246 1,084 4,025 308 2,034 71 1,974 76 5,905 7,467 8 Tru5t£es remuneratlon and 8xpenses DurlnÉ the year the charity made the following transattions with trustees: Revd Fr Paul autler £1,81212023: £1,578) of expenses were reimbursed to Revd Fr Paul Butler during the year. No trustees, nor any persons connected with them, have receSved any remuneration from the charity during the year. No trustees have recelved any other benefrts from thè tharlty durlng the year. 9 Taxatlon Thè charity is a reglstered charity and is therèft)re exempt from taxatlon. Page 15
The Parochlal Church Councll of St Paul, Deptford Notes to the Flnanclal Statements for the Year Ended 31 December 2024 (contlnued) 10 Debtois 2024 2023 Prepayments other debtors 2,836 5,143 2,788 6,323 7,979 9,111 11 Current asset Inve5tment5 2024 2023 Listed other shares 247,540 228,650 12 Cash and c85h e4uhrBlents 2024 2023 Cash on hand Cash at bank 2,656 266,347 2,656 260,791 269,003 263,447 ia Crtdltors: amounts falllng du• wlthln on• year 2024 21)23 Other creditor5 4,270 3,815 4,170 3,598 Accruals 8,085 7,76B Page 16
The Parochlal Church Councll of St Paul, Deptford Notes to the Flnancial Statements for the Year Ended 31 December 2024 l¢ontlnued) 14 Funds alante at 31 Decèmber 2024 Balance at i January 2024 Other recognlsed galnslllossesl Incomlng resource5 Resources èXPÈhded Curront pèrlod Unrestrlrted General General Funds 222,983 56,463 152,3561 18,890 245,980 Restrfcted Thames Tldeway Tunnel Asset Protection Agreement 270,457 270,457 Total funds 493,440 56,463 152,3561 18,890 516,437 Balance at 31 Dètèmber 2023 alance at i January 2023 Other recoEnlsed galnsll10s5es1 Incomlng rèsourtÈs Resources expended Prevlous perlod Unrestrlctéd Generul General Funds 183,707 58,944 151,3411 31,673 222,983 Rèstrlcted Th3mÈs Tideway Tunnel Asset Protectlon A8reement 164,325 107,560 11,42BI 270,457 Total funds 348,032 166,504 152,7691 31,673 493,440 The specific purposes for which the funds are to be applled are as follows: Thames Tldeway Tunnel A55èt Protectlon Agreement Annu31 grant reteived initially to fund an admin ofFicer however, permlssion was granted to allow this money to be used to seed the church's development project. Page 17
The Parochlal Church Councll of St Paul, Deptford Notes to the Flnanclal Statements for the Year Ended 31 December 2024 {contlnued) 15 Analysls of net assets between funds Current perlod Unrestrlcted funds General Restrlcted funds Total funds 2024 Cuirent assets 254,065 18,0851 270,457 524,522 18,0851 Current liabilities Total net assets 245,980 270,457 516,437 Prevlou5 perlod Unre5trlctÈd funds General Total funds at 31 December 2023 Restrlcted funds Current assets 230,751 17,768 270,457 501,208 17,7681 Current liabilities Total net assets 222,983 270,457 493,440 Page 18