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2025-12-31-accounts

PCC of St Mary Woolnoth, St Edmund the King and St Clement Eastcheap

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
CONTENTS PAGE NO
References and administrative details of the charity 3
Trustees Report
Background and Mission: purpose of the Charity
Public Benefit Statement
Objectives, activities and measuring success
Structure, Governance and Management
Committee of the PCC
Administrative Information
Diocese of London
Related Parties		 4 - 7
Policy Statements
Health and Safety
Safeguarding
Equality Act 2010		 8
Review of the year
Building
Services & Worship
Discipleship & community
Evangelism, mission & outreach
Coffee Shop		 9 - 13
Fabric Report
St Mary Woolnoth
St Edmund the King and Martyr
St Clement Eastcheap		 14 - 15

PCC of St Mary Woolnoth, St Edmund the King and St Clement Eastcheap

Trustees’ Report for the Year ended 31 December 2025

Electoral roll 16
Staff & Volunteers 16
Safeguarding Report 17
Treasurer’s Report 18 - 19
Independent examiners report 20 - 21
Statement of financial activities 22
Balance sheet 23
Cash flow statement 24
Notes to the financial statements 25 - 31

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PCC of St Mary Woolnoth, St Edmund the King and St Clement Eastcheap

Trustees’ Report for the Year ended 31 December 2025

References and administrative details of the charity

CHARITY NAME The Parochial Church Council of The Ecclesiastical Parish of St Edmund the King, St Mary Woolnoth and St Clement Eastcheap CHARITY NUMBER 1186263 PRINCIPAL OFFICE St Mary Woolnoth, Lombard Street, London EC3V 9AN TRUSTEES / PCC Members of the Parochial Church Council (PCC) who served from 1 January 2025 to 31 December 2025

Clergy

Rt Revd Dr Ric Thorpe - Incumbent (until Nov 2025) Revd Wole Agbaje - Minister-in-Charge Revd Andrew Baughen - Curate (until Jan 2025)

Elected officers

Ms Bumade Agbaje - Churchwarden Mr Temi Ajilore - Churchwarden Ms Neme Enumah - Churchwarden (until May 2025) Mr Kem Amafu-Dey - Treasurer Ms Gianina Graham - Secretary

Elected members

Ms Beth Allen-Jones Mr David Babatunde (from May 2025) Ms Megan Beamish (until May 2025) Ms Hannah Bowen (until May 2025) Ms Benita Daniels (nee Thambipillai) (until Nov 2025) Mr Tim Fielder Ms Aisha Gbademosi (from May 2025) Mr Sofia Loemba (from May 2025) Mr Luca Martini (from May 2025) Ms Jacqui Olaifa (until May 2025) Mr Pedro Neto (from May 2025) Ms Natalie Verghese (from May 2025) Ms Shannon Walker

INDEPENDENT Derek Rodwell, Impact the Future Ltd, 117 Chestergate, Macclesfield, SK11 6DP EXAMINER

INVESTMENT MANAGERS

Central Board of Finance of the Church of England, CCLA, Senator House 85 Queen Victoria Street, London, EC4V 4ET.

BANKERS

Barclays Bank PLC, 100 Fenchurch Street, London EC3M 5JD

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PCC of St Mary Woolnoth, St Edmund the King and St Clement Eastcheap

Trustees’ Report for the Year ended 31 December 2025

TRUSTEE’S REPORT

for the Year ended 31 December 2025

The Parochial Church Council of St Mary Woolnoth, St Edmund the King and St Clement Eastcheap (‘the PCC’), as Trustees, present their annual report, together with the financial statements, for the year ended 31 December 2025. The Trustees confirm that the annual report and financial statements of the charity comply with the current statutory requirements.

Background and Mission: purpose of the Charity

The Churchwardens and PCC of St Mary Woolnoth, St Edmund the King and St Clement Eastcheap have the responsibility of working with the minister in charge in promoting the whole mission of the Church.

The charitable objectives are focused on the advancement of the Christian religion. All regular public worship is provided free of charge and open to all. The aim is to introduce people to a loving community which has its source in the heart of God. This is a solution to the epidemic of loneliness and isolation so many experience in a large city like London and for humanity’s longing for meaning.

Public Benefit Statement

The PCC confirms that it is aware of the Charity Commission’s guidance on public benefit. The requirement to maintain a public benefit is met by the regular provision of church services on weekdays and weekends, the hosting of events such as concerts and exhibitions, opening the grade 1 listed buildings to visitors on a regular basis and by keeping a coffee shop in the Vestibule of St Mary Woolnoth, where anyone can come in for a coffee and a conversation.

Objectives, activities and measuring success

In 2025 in particular the charitable objectives were expressed through the life and work of IMPRINT London, which officially became the Parish congregation on 1 January 2023. Teaching is provided during five weekly mid- and weekend church services as well as discipleship group meetings where faith is discussed and relationships are deepened. Regular outreach events and courses are open to anyone as well as an annual free Christmas Musical and outdoor Gospel Carol events. A place to help people connect more deeply with God is the House of Prayer at St Mary Woolnoth, open to the public daily and includes worship meetings 6 times a week. The Parish has appointed an Artist in Residence, Lucy Robinson, from the young congregation, who has been painting inside St Mary Woolnoth in view of visitors, sparking

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PCC of St Mary Woolnoth, St Edmund the King and St Clement Eastcheap

Trustees’ Report for the Year ended 31 December 2025

conversations around art and faith. The Parish trained 30+ young discipleship students in a 6 month programme consisting of teaching and ministry opportunities. Support, encouragement, and practical help are offered to the congregation of over 400 people, as well as to anyone who requests it. In addition to regular attendees, around 30–40 people walk in from the street each week to join the services and have conversations about faith.

The Parish keeps St Mary Woolnoth church open to the public on weekdays which is enabled by keeping a coffee shop, Newton’s Coffee, in the vestibule of the church.

Measurement of success consists of a combination of statistical and anecdotal evidence. The electoral roll (those who have attended more than 6 months and consider themselves members of the church) increase yearly; more services are needed because the current ones overflow; there is always more demand for more small groups; and highlights from the stories people tell of their experience being part of the ministry include a sense of belonging, new found confidence and joy, and opportunities to grow and be challenged.

Structure, Governance and Management

Rt Rev Dr Ric Thorpe, Bishop of Islington, was the Rector of St Mary Woolnoth, St Edmund the King and St Clement Eastcheap until 31 October 2025. There were two assistant curates in 2025: Revd Wole Agbaje leading IMPRINT London; and Revd Andrew Baughen (until 20 January 2025), the latter using the parish as an informal base for his work with the business community across the City of London. Following the vacancy of the parish rector, during the Interregnum period, Revd Wole Agbaje is the de facto Rector alongside the elected Laychair, Mr Temi Ajilore (16 February 2026), until the formal appointment of a new Rector is finalised.

The Churchwardens and PCC of St Mary Woolnoth, St Edmund and St Clement Eastcheap have the responsibility of working with the Rector in promoting the whole mission of the Church. This was expressed in 2025 through the life and work of IMPRINT London, the ministry in the Parish.

The method of appointment of PCC members is set out in the Church Representation Rules. At St Mary Woolnoth, St Edmund the King and St Clement Eastcheap, membership of the PCC consists of the licensed clergy, churchwardens, and members who are elected by those on the Electoral Roll. PCC members are responsible for making decisions on all matters of general concern and importance to the parish and on how the funds of the Parish are to be spent. Staff members operate from a PCC approved budget, and make spending decisions in line with the agreed objectives. A trustee-approved Parish Finance policy determines how spending is conducted.

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PCC of St Mary Woolnoth, St Edmund the King and St Clement Eastcheap

Trustees’ Report for the Year ended 31 December 2025

Parish Trustees are invited and encouraged to take part in the Diocesan training for roles such as the Treasurer, Secretary and Safeguarding Officer. Following the Annual Parochial Meeting annually new trustees are given a brief in the first Parish meeting of Trustee roles and responsibilities.

Charity Staff

The PCC delegates the day to day management of the Charity to senior members of staff, which include: Revd Agbaje (Clergy and Minister in Charge); Mr Neto (Assistant Pastor); Mrs Lannero (Parish Operations Manager); and Mr Amafu-Dey (Senior Finance Manager).

Staff salaries are set in relation to equivalent roles within the Charity sector and approved by the trustees of the PCC before being implemented. Several salaries are grant funded.

Committee of the PCC

In 2025 there was one committee appointed on behalf of the PCC, to review staffing and prepare a report on building a sustainable Parish staff team.

Administrative Information

The Parish of St Mary Woolnoth, St Edmund the King and St Clement Eastcheap is part of the Two Cities Area of the Diocese of London and within the Archdeaconry of London and Deanery of the City. The PCC is a body corporate under the Parochial Church Councils (Powers) Measure 1956 and the Church Representation Rules (‘the Rules’) and is a Charity (as of 11 November 2019). There are elections every year for the PCC at the Annual Parochial Church Meeting where all those on the electoral roll are eligible to vote; the APCM operates under the Rules.

Diocese of London

The Diocese of London is the largest in the Church of England, with over 400 churches serving a diverse population of 4.2m north of the Thames and west of the Lea, with a vision for every Londoner to encounter the love of God in Christ. In 2025, the Church continued to grow according to indicative statistics, contributing to attendance increases of around 20% since 2022.

The London Diocesan Fund (LDF) serves, supports and resources all parts of the Diocese by funding around 540 paid clergy and providing essential services so every parish benefits from strong pastoral and missional leadership. The Ministry Team supported the formation and development of 540 paid clergy, 204 self supporting clergy, 114 Licensed Lay Ministers, as well as over 100 exploring ordained or lay ministry.

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PCC of St Mary Woolnoth, St Edmund the King and St Clement Eastcheap

Trustees’ Report for the Year ended 31 December 2025

Most stipendiary clergy are housed by the LDF. The Housing team completed over 3,000 repairs and planned maintenance tasks, alongside major retrofitting to improve housing quality and energy efficiency, contributing to net zero goals. Parishes received wide-ranging practical support for ministry. The Property and Fundraising team helped secure nearly £16m of external investment towards building renovations, community engagement and mission.

Safeguarding practice was strengthened further, with 95% of parishes now using safeguarding dashboards. INEQE carried out an independent audit of diocesan safeguarding, which will provide recommendations for how to build on progress made to create a safer church.

This work was funded through parish contributions via the Common Fund (£24.3m) and LDF generated income (£12.8m) from grants and investments.

The LDF has also generated additional funds for mission-focused projects, now totalling £40m across their collective lifespan. Great progress was made in 2025, including:

Related Parties

The Parish also cooperates with a sister charity (IMPRINT), which focuses on church planting and creative ministry amongst the churches planted under the Imprint name. It functions independently from the parish.

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PCC of St Mary Woolnoth, St Edmund the King and St Clement Eastcheap

Trustees’ Report for the Year ended 31 December 2025

POLICY STATEMENTS

Risk assessment and mitigation

The risks which the organisation faces have been considered and measures will be implemented to ensure that appropriate systems, policies and procedures are in place to manage and mitigate the risks. Specifically, where there is financial risk, this is managed by effective financial systems and controls, which include adherence to balanced, PCC-approved budgets. Other risks, including health and safety and employment, are being mitigated through modern management systems and practices. As a matter of general policy, independent professional advice is taken where appropriate.

Health and Safety

The PCC has a Health and Safety policy covering the conduct of all activities within the church buildings. During the year policies were re-developed and supervised by Mrs Inger Lannero, the Parish Operations Manager, in collaboration with the incumbent, clergy and churchwardens. Accident and fire incident books are kept in the churches and the Parish has two trained First Aiders: Ms Jacqueline Olaifa and Mr Edward Schumacker.

Safeguarding

The PCC has adopted the Diocese of London’s safeguarding policy relating to children, young people and vulnerable people. The PCC is committed to the principles of best practice in relation to safeguarding and complies with the duty under section 5 of the Safeguarding and Clergy Discipline Measure 2016 in respect of having due regard to House of Bishops’ guidance on safeguarding children and vulnerable adults. The guidance may be read in full on the Church of England website and a report is included within this annual report. throughout the year. Between January 2025 and December 2025, 10 safeguarding incidents were reported, none of which required referral to the Charity Commission.

Equality Act 2010

The parish is aware of its responsibilities under the Act, especially regarding people with disabilities. At St Edmund the King wheelchair users are offered help in accessing the church building via the level access at the rear of the building and accessible toilets are available. St Clement Eastcheap has wheelchair and accessible toilets. There is currently no option for level access at St Mary Woolnoth. The parish is aware that the flight of steps at the entrance to each of the church buildings may give difficulty to wheelchair users. The Grade 1 listed nature of the church buildings and their physical characteristics have, so far, prevented a full solution but as the Parish continues to move towards the restoration of St Mary Woolnoth, accessible facilities will be part of the bigger plan.

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PCC of St Mary Woolnoth, St Edmund the King and St Clement Eastcheap

Trustees’ Report for the Year ended 31 December 2025

REVIEW OF THE YEAR

As we review the year just passed, and look ahead to the coming year, we believe God is calling The Charity (aka ‘IMPRINT London’) into a season of deeper discipleship, wider impact, and creative expression.

PCC meetings were held regularly in person in 2025, with the option of joining on line when necessary. The two church wardens, Ms Bumade Agbaje continued in this role and Mr David Babatunde was elected new Church Warden on 28 May 2025, taking over from Ms Neme Enumah; Temi Ajilore subsequently returned to his role as Church Warden on 24 November 2025 to replace Mr David Babatunde .

Minutes of meetings were received in full by the PCC and discussed where necessary. The subjects discussed in 2025 were Parish ministries, facilities and finances. Regular updates included the ministries in the Parish; building updates included inspections, repairs, maintenance and gaining necessary permissions for work to take place. Finance discussions focused on grant applications, regular and on-going finances including accounts and the 2026 budget and Human Resource questions around the hiring of new staff. An annual report for 2024 was produced and the APCM was held on 28 May 2025.

St Mary Woolnoth is the parish church and St Edmund the King and St Clement Eastcheap are both chapels of ease after St Clement Eastcheap was incorporated into the Parish, through a revised pastoral scheme at the close of 2018.

IMPRINT London, led by Revd Wole Agbaje, continued to grow and thrive in the Parish.

Oversight of day to day operations sits with the charity staff.

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PCC of St Mary Woolnoth, St Edmund the King and St Clement Eastcheap

Trustees’ Report for the Year ended 31 December 2025

Building

Details on activities relating to the buildings can be found in the ‘ Fabric Report’ section of the annual report.

Services & Worship

In line with previous years, IMPRINT London held weekly multiple in-person and digital services for the public to enable the worship and practice of their faith. A new congregation in Croydon was planted in October, led by an ordinand, Mrs Benita Daniels, to better accommodate the growing size of the congregation. Each service was supported by a team of hospitality, prayer, ministry, tech and worship volunteers, providing refreshments and a warm welcome to each of the 6 weekly services.

Special services were held through the year, which included three baptismal services (including an Easter Sunday baptismal service) that enabled over 50 men and women to be baptised and profess their faith; celebrated Christmas with a theatre production, carol services in-doors but also in front of the City of London Royal Exchange for the public; and held an open New Year’s Eve event where the congregation and visitors alike came together at the larger Royal National Hotel to pray and worship into the new year.

Since March 2024, St Mary Woolnoth Church, continues as a House of Prayer, where space is made within the parish to worship and encounter God consistently throughout the week. It is sourced by a group of 20 volunteers who serve Monday-Friday mornings and Thursday evenings.

Future Plans

We are committed to supporting new church plants and raising up teams to pioneer in new areas. These teams will be rooted in worship, prayer, and mission, carrying the heart of IMPRINT into new communities.

Discipleship & community

Discipleship

Discipleship within IMPRINT London is supported through relationships between less experienced Christians with more mature members of the community. The Alpha course, small bible study (“Crews”) groups, and the discipleship year internship (“NWDY”) are the primary ways of facilitating this.

Two Alpha courses were offered to the public in spring and autumn, respectively, and were well attended. Several members of the public were given the opportunity to explore the Christian faith for the first time ahead of joining the church community. IMPRINT London expanded to over 20 Crews groups to best meet the increasing demands of the church community, with each leader of a Crew being a mature and faith practicing member of the congregation.

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PCC of St Mary Woolnoth, St Edmund the King and St Clement Eastcheap

Trustees’ Report for the Year ended 31 December 2025

In February 2025, as part of a special offering alongside IMPRINT CIO, IMPRINT London invested in a new initiative called ‘Leaders of Tomorrow’ in order to resource and equip new leaders who can take the gospel of Jesus Christ into new spheres reflecting Matthew 9. The inaugural programme was launched in September 2025 on a 6 month scheme with weekly teachings and practical experience to help expose them to ministry life and the internal workings of the church as they are prepared to become the leaders of tomorrow; 35 young adults completed this programme.

Community

IMPRINT London is home to a church with over 400 regular attendees from diverse backgrounds across creative and professional spheres of life. In addition, IMPRINT London has hosted quarterly ‘Newcomers Meals’ which enables the new members of the church community to meet the leadership team and understand the ethos.

The community is strengthened and supported through sub-community groups, such as:

Future Plans

At IMPRINT London, we are intentionally refining the internship scheme, as we moved forward with a focused cohort of 40 interns in 2025, where the primary objective is to prioritise depth over scale. These interns are actively integrated into the life of the church, serving across multiple ministries including hospitality, worship, production, and welcome and outreach. This integrated model allows for both spiritual formation and practical leadership development within real church contexts. We are also implementing mission-based incentives to broaden each intern’s exposure and initiative. Through training in outreach and fundraising, we aim for every intern to engage in at least one new area of ministry beyond their current role, building greater adaptability, confidence, and a more holistic understanding of church life and mission. Overall, our goal is to create a more structured, intentional and sustainable internship experience that not only equips young leaders but also integrates them meaningfully into the mission and life of the church.

Evangelism, mission & outreach

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PCC of St Mary Woolnoth, St Edmund the King and St Clement Eastcheap

Trustees’ Report for the Year ended 31 December 2025

Alongside IMPRINT charity, IMPRINT London hosted a Christmas musical with a Christ-focused message that aids in the sharing of the gospel to non-believers in 2025.

IMPRINT London continued its development of confident and capable everyday evangelists and missionaries through multiple international trips to countries such as Brazil (May), South Korea (June), South Africa (December) and Zambia (December). These trips were self-funded by the missionaries, however training and development was done within the Parish.

Inspired by Matthew 25 and, once again, in partnership with Spitalfield Crypt Trust, the annual Xmas clothing collection for rough sleepers and vulnerable individuals was done as part of our community outreach ministries. Over 500 items of clothing, ranging from winter jackets, to baby clothing.

The Parish made a full contribution to the Diocesan Common Fund, which supports the larger work of the Anglican church in London and beyond.

Future Plans

In 2026, IMPRINT London plans to release a worship album that reflects the prophetic sense of what God is doing in this moment. These songs will serve as anthems for our church as we desire to be a creative and prophetic voice in this generation.

Further, through a deeper partnership with ‘House of Prayer’, IMPRINT London will expand its outreach initiatives, creating more opportunities for people to encounter Jesus, with weekly street evangelism sessions flowing from this space.

2026 will launch a new initiative called ‘Gen Z Gatherings’ —a new space for young people to be disciplined, explore their faith, and grow in community among peers.

Finally, alongside the Alpha course, we will be pioneering a ‘New Believers Group’ which will aid in the evangelistic and discipleship of non-faith and other faith communities.

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PCC of St Mary Woolnoth, St Edmund the King and St Clement Eastcheap

Trustees’ Report for the Year ended 31 December 2025

Coffee Shop

The coffee shop, named Newton’s Coffee, the Parish opened in January 2024 as a social enterprise in the vestibule of St Mary Woolnoth, celebrates the famous hymn Amazing Grace penned by John Newton in the late 17-hundreds. It highlights his transformational story, from the captain of a slave ship to abolitionist, and vicar at St Mary Woolnoth for 28 years where he mentored the famous abolitionist MP, William Wilberforce. The purpose of the coffee shop is to build community relationships but also draw attention to today’s injustice issues through a partnership with the International Justice Mission.

Newton’s Coffee also forms an active part of the Parish’s evangelism ministry, serving as a front-facing initiative that enables the church to remain open throughout the week. The coffee shop has enabled several members of the clergy, staff and volunteer team to connect with those exploring faith, sharing more about the life of the church—some of whom have since become part of the church community. Through this platform, relationships are formed and discussions about faith take place, consistently attracting approximately 150 individuals daily — many of whom may never otherwise step into a church.

Future Plans

From February 2026, Newton’s Coffee will change its operating model and will be managed by Soak Coffee Roasters, enabling a return to financial self-sustainability for all stakeholders. The board of trustees believe this coffee shop remains an important pillar to the charity's mission, operations and objectives.

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PCC of St Mary Woolnoth, St Edmund the King and St Clement Eastcheap

Trustees’ Report for the Year ended 31 December 2025

FABRIC REPORT

The PCC is responsible for maintenance of the three Grade 1 listed parish churches: St Mary Woolnoth, St Edmund King, and St Clement Eastcheap.

St Mary Woolnoth

Quinquennial Inspection and Restoration Project

The external fabric of this church is in need of urgent attention. In 2023 a Buildings Committee was established. Following this, in May 2024 a Parish Vision document was shared with the Inspecting Architect as the starting point for the Options Appraisal, part of the project’s feasibility stage. In June, the Parish received the quote for the Options Appraisal. Research and surveys took place in 2025: an Historian’s report was produced, an energy net zero carbon audit report as well as a 3D modelling survey report, all forming part of the research required for the options appraisal report, expected in 2026.

Maintenance & Repairs

Heavy summer rains in 2023 meant that the flat roofs at St Mary Woolnoth failed to cope with the large amounts of water, which leaked through the roof and the ceiling of the Nave. As the weather warmed and the plaster in the interior corner of St Mary Woolnoth’s ceiling dried (corresponding to the exterior repair the previous year) the plaster began to crack and pieces started coming loose. A plan was put in place for repairs to be carried out. Interior scaffolding was erected and repairs took place in 2025.

Inspections and services

Inspections were carried out including regular pest control visits, maintenance of the gutters, servicing of the boilers and fire extinguishers, the emergency procedure was reviewed. The insurers, Ecclesiastical Insurance, inspected St Mary Woolnoth in 2025.

St Edmund King and Martyr

Quinquennial Inspection

The 2022 QI report showed that the general building structure is in sound condition but there were a number of items of maintenance and renewal that were likely to become essential before the next inspection.

Maintenance & Repairs

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PCC of St Mary Woolnoth, St Edmund the King and St Clement Eastcheap

Trustees’ Report for the Year ended 31 December 2025

Preparations took place to repair the glazed ceiling laylight in the Nave. The complex repair was completed in 2025. The flooring in the Vestry, also highlighted as a priority in the QI report, was lifted, beams replaced and the floor relayed, sanded, oiled and polished in 2025.

Inspections and services

Inspections were carried out including regular pest control visits, maintenance of the gutters, servicing of the boilers and fire extinguishers, the emergency procedure was reviewed.

St Clement Eastcheap

Quinquennial Inspection

Quinquennial inspector, Mr Alex Sherratt, who was appointed in April 2023 as required by the Inspection of Churches Measure 1955 as amended by the Care of Churches and Ecclesiastical Exemption Measure 1991 (“the Measure”) a quinquennial inspection of St Clement Eastcheap also took place in 2023. This revealed the need to inspect the ceiling structure, outdoor parapets, broken downpipes, the church yard fence, and the forthcoming need to replace the copper roof.

Maintenance & Repairs

The broken downpipes were repaired, as well as a rotten tower door in 2025. The church yard fence was discovered to have corroded to such an extent that when a member of the public bent it for access, it broke. Repairs were approved by the PCC at the end of 2025 are in the planning/permission stage and expected to take place in 2026.

Inspections and services

Inspections were carried out including regular pest control visits, maintenance of the gutters, servicing of the boiler and fire extinguishers, the emergency procedure was reviewed.

Future Plans

Future plans include the progression of the restoration St Mary Woolnoth project, St Clement Eastcheap church yard railing and flooring subsidence inside St Edmund the King.

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PCC of St Mary Woolnoth, St Edmund the King and St Clement Eastcheap

Trustees’ Report for the Year ended 31 December 2025

ELECTORAL ROLL

There were 132 names on the electoral roll in 2025.

STAFF & VOLUNTEERS
Staff by Function Average number of persons
2025 2024
Buildings 2 3
Clergy 1 1
Ministry & Services 4 4
Newton’s Coffee Shop 4 4
Operations 3 3
Ordinands 4 2
Total 18 17

With the exception of clergy and two individuals, all staff are part time.

Day to day operational running is managed by paid staff, the Charity depends on volunteers to conduct most of its ministry. Volunteers are enlisted for roles related to safeguarding, hospitality, music, outreach, leading small groups (“Crews”) amongst other things.

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PCC of St Mary Woolnoth, St Edmund the King and St Clement Eastcheap

Trustees’ Report for the Year ended 31 December 2025

SAFEGUARDING REPORT

There were 10 Parish safeguarding concerns reported to the Diocese of London in 2025, of which 0 were about clergy, 4 were about other individuals within the Church, and 6 were about individuals within the church struggling with their mental health. None were deemed by the Diocese of London safeguarding team to require referral to the Charity Commission.

The safeguarding policies of the parish and the policy guidance found at

https://www.london.anglican.org/support/safeguarding/safeguarding-policy has been adopted as the policy of this parish.

In compliance with our safeguarding policies and practices as adopted by the PCC:

Safeguarding information has been properly posted throughout the parish and on the Parish website: https://www.lombardchurches.org/safeguarding

The requirements for DBS disclosures are being met for the appropriate roles.

The parish priest has been kept informed of any concerns, responses and activities relating to safeguarding children and adults at risk.

Lone-working policies have been adopted at each of the sites.

Ms Beth Allen-Jones, Parish Safeguarding Officer

December 2025

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PCC of St Mary Woolnoth, St Edmund the King and St Clement Eastcheap

Trustees’ Report for the Year ended 31 December 2025

TREASURER’S REPORT

Financial Review

The accounts for 2025 accompany this report.

Overall

Income from all sources (including designated and restricted) amounted to £681,810 (2024: £617,674) and expenditure totalled £791,094 (2024: £646,412).

The value of the investments decreased by £10,489 over the year to end the year with a total of £685,652 (2024: Increase of £31,823 over the year to a total of £696,140).

Total funds at the end of the year came to £1,104,118 of which £812,310 were restricted (2024: £1,223,891 of which £880,558 were restricted).

Unrestricted (excluding Newton’s Coffee shop) Income: £459,408 (2024: £380,899) Expenditure: £430,864 (2024: £350,162)

Newton’s Coffee Shop Income: £88,861 (2024: £96,118) Expenditure: £153,776 (2024: £144,917)

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PCC of St Mary Woolnoth, St Edmund the King and St Clement Eastcheap

Trustees’ Report for the Year ended 31 December 2025

The PCC Responsibilities in relation to the Financial Statements

Charity law requires the PCC to prepare a statement of financial activities and statement of assets and liabilities for each financial year, which gives a true and fair view of the state of affairs of the church and of its financial activities for that year and adequately distinguishes any material special trust or other restricted fund of the church. In preparing those financial statements the PCC is required to:

The PCC is responsible for keeping proper accounting records which disclose, with reasonable accuracy at any time, the financial position of the church, and to enable them to ensure that the financial statements comply with applicable Accounting Standards and Statements of Recommended Practice and the regulations made under the Charities Act 2011. They are also responsible for safeguarding the assets of the church and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Reserves

It is PCC policy to maintain an unrestricted cash balance which equates to at least three months’ unrestricted payments, equivalent to around £143,000, to cover emergency situations. At the end of 2025 there were around £195,000 of unrestricted reserves.

Signed on behalf of the PCC of St Mary Woolnoth, St Edmund King and St Clement Eastcheap

The Revd Wole Agbaje

Minister-In-Charge

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Independent Examiner's Report to the PCC of St Edmund, King and Martyr, St Mary’s Woolnoth & St Clement Eastcheap

I report on the accounts for the year ended 31st December 2025 that are set out on pages 22 to 31.

Respective responsibilities of the PCC and Independent Examiner

The PCC is responsible for the preparation of the accounts. They consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

Having satisfied myself that the church is not subject to audit and is eligible for independent examination it is my responsibility to:

This report, including my statement, has been prepared for and only for the PCC as a body. My work has been undertaken so that I might state to the PCC those matters that I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to any other than the church and the PCC as a body for my examination work, for this report or for the statements that I have made.

Basis of Independent Examiner's Statement

My examination was carried out in accordance with the General Directions given by the Charity Commission.

An examination includes a review of the accounting records kept by the church and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you 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 as 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 Examiner's Statement

Since the gross income of the church exceeds the amount provided in section 145(3) of the Act, I confirm that I am qualified to act as Independent Examiner under the provisions of that section of the Act and that my qualification is as shown below.

In connection with my examination, no matters have come to my attention:

  1. which give me reasonable cause to believe that in any material respect the requirements

  2. to keep accounting records in accordance with s.130 of the 2011 Act; or

  3. to prepare accounts which accord with these accounting records have not been met; or

  4. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Page 20

Date:

Derek Rodwell FCCA (Fellow of the Chartered Association of Certified Accountants) Impact The Future Ltd, 117 Chestergate, Macclesfield, Cheshire, SK11 6DP

Page 21

ST EDMUND, KING & MARTYR, ST MARY WOOLNOTH AND ST CLEMENT EASTCHEAP STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2025

Note
INCOME FROM:
Voluntary income
2(a)
Income from Charitable activities
2(b)
Investment income- dividends and interest
TOTAL INCOME
EXPENDITURE ON:
Expenditure on raising funds
Charitable activities
Building costs
Services & Worship
Discipleship & community
Evangelism, mission & outreach
Coffee Shop
3
TOTAL EXPENDITURE
NET INCOMING / (OUTGOING) RESOURCES
BEFORE INVESTMENT GAINS AND LOSSES
Gains/losses on revaluations
Transfers between funds
NET MOVEMENT IN FUNDS FOR THE YEAR
Total funds at 1 January
TOTAL FUNDS AT 31 DECEMBER		 Unrestricted Designated Restricted
Total
funds
funds
funds
funds
2025
2025
2025
2025
£
£
£
£
395,105
3,957
117,306
516,368
152,700
9,842
0
162,542
464
0
2,436
2,900
548,269
13,799
119,742
681,810
11,114
0
0
11,114
162,007
15,672
79,427
257,106
105,658
5,892
1,127
112,677
3,146
0
90,520
93,666
148,939
0
13,818
162,757
153,776
0
0
153,776		 Unrestricted Designated Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2024
£
£
£
£
318,935
15,458
121,250
455,643
158,082
1,450
200
159,732
0
0
2,299
2,299
477,017
16,908
123,749
617,674
7,719
0
0
7,719
159,811
2,925
27,790
190,526
69,969
8,415
16,141
94,524
32,256
0
15,694
47,950
80,406
0
80,370
160,775
144,837
0
80
144,917
573,525
21,564
184,891
779,980
584,639
21,564
184,891
791,094
(36,370)
(7,765)
(65,149) (109,284)
0
0
(10,489)
(10,489)
(7,390)
0
7,390
0
(43,760)
(7,765)
(68,248) (119,773)
275,947
67,386
880,558 1,223,891
232,187
59,621
812,310
1,104,118		 487,280
11,340
140,074
638,694
494,999
11,340
140,074
646,412
(17,982)
5,568
(16,325)
(28,739)
0
0
31,823
31,823
0
0
0
0
(17,982)
5,568
15,498
3,084
293,929
61,818
865,060 1,220,807
275,947
67,386
880,558
1,223,891

Note re comparatives

Clergy costs in 2024 (totalling £16,309) were allocated incorrectly to Newton's coffee rather than to building costs. This has been corrected in these accounts. For details see note 3 of the notes to the accounts.

The notes on pages x to x form part of these financial statements.

Page 22

ST EDMUND, KING & MARTYR, ST MARY WOOLNOTH AND ST CLEMENT EASTCHEAP

BALANCE SHEET AS AT 31 DECEMBER 2025

Note
FIXED ASSETS
Tangible assets
6
Investments
7
CURRENT ASSETS
Debtors
8
Short term deposits with CCLA
Cash at bank
CREDITORS: amounts falling due within 12 months
9
NET CURRENT ASSETS
NET ASSETS
STATEMENT OF FUNDS
10,11
Unrestricted funds
Designated funds
Restricted funds
TOTAL FUNDS		 £
£
67,284
685,651
752,935
63,983
10,658
299,256
373,897
(22,714)
(22,714)
351,183
1,104,118
232,187
59,621
812,310
1,104,118
2025		 £
£
68,405
696,140
764,545
92,642
8,221
378,318
479,181
(19,835)
(19,835)
459,346
1,223,891
275,947
67,386
880,558
1,223,891
2024		 £
£
68,405
696,140
764,545
92,642
8,221
378,318
479,181
(19,835)
(19,835)
459,346
1,223,891
275,947
67,386
880,558
1,223,891
2024
1,223,891
275,947
67,386
880,558
1,223,891

The financial statements were approved by the Trustees on and signed on their behalf by:

Page 23

ST EDMUND, KING & MARTYR, ST MARY WOOLNOTH AND ST CLEMENT EASTCHEAP

Cash flow statement

For the year to 31st December 2025
Net income for the reporting period (as per statement of financial activities)
Adjustments for:
Depreciation charges
Write off of assets
(Increase)/Decrease in value of debtors
Increase/(Decrease) in value of creditors
Net cash from operating activities
Release of funds from investments
Cash flows from investing activities
Purchase of fixed assets
Increase in cash in year
Reconciliation of net debt
Cash and cash equivalents-
Current account
Stripe, Pleo and cash
Café account
Barclays Savings Account
CBF deposit accounts
Borrowings
Short term loans due within one year
Total		 2025
£
28,380
0
28,659
2,879		 2025
2024
2024
£
£
£
(109,284)
(28,739)
27,531
0
67,827
(39,794)
59,918
55,564
(27,259)
(16,152)
(76,625)
10,673
opening
cash flow
closing
01/01/2025
2025
31/12/2025
348,043
(336,071)
11,972
2,651
5,732
8,383
27,624
(23,724)
3,901
0
275,000
275,000
8,221
2,437
10,658		 2024
£
27,531
0
67,827
(39,794)		 2024
£
(28,739)
55,564
(16,152)
10,673
386,540
(76,626)
309,914
0
0
0
386,540
(76,626)
309,914

Page 24

ST EDMUND, KING & MARTYR, ST MARY WOOLNOTH AND ST CLEMENT EASTCHEAP

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

1. ACCOUNTING POLICIES

The PCC is a public benefit entity within the meaning of FRS 102. The financial statements have been prepared under the Charities Act 2011 and in accordance with the Church Accounting Regulations 2006 governing the individual accounts of PCCs, and with the Regulations’ ‘true and fair view’ provisions, together with FRS 102 (2016) as the applicable accounting standards and the 2016 version of the Statement of Recommended Practice, Accounting and Reporting by Charities (SORP (FRS102)).

The financial statements have been prepared under the historical cost convention except for the valuation of investment assets, which are shown at market value.

These accounts have been prepared under the assumption that the church is a going concern as can be verified by the substantial balance of funds available as shown on these financial statements.

Funds

General funds represent the funds of the PCC that are not subject to any restriction regarding their use and are available for application on the general purposes of the PCC.

The accounts include all transactions, assets and liabilities for which the PCC is responsible in law.

Incoming Resources

Voluntary income and capital resources

Collections are recognized when received by or on behalf of the PCC. Planned giving under Gift Aid is recognized only when received. Income tax recoverable on Gift Aid donations is recognized when the income is recognized.

Grants and legacies to the PCC are accounted for as soon as the PCC is notified of its legal entitlement, the amount due is quantifiable and its ultimate receipt by the PCC is reasonably certain.

Other income

Rental income from letting of church premises is recognized when rental is due.

Income from investments

Page 25

Dividends are accounted for when due and payable. Interest entitlements are accounted for as they accrue. Tax recoverable on such income is recognized in the same accounting year.

Gains and losses on investments

Realized gains or losses are recognized when investments are sold. Unrealized gains and losses are accounted for on revaluation of investments at 31 December.

Resources Expended

Activities directly relating to the work of the Church

The diocesan parish share is accounted for when paid. Any parish share unpaid at 31 December is provided for in these accounts as an operational (though not a legal) liability and is shown as a creditor.

FIXED ASSETS

Consecrated property and moveable church furnishings

Consecrated and beneficed property of any kind is excluded from the accounts by s.10 of the Charities Act 2011.

Moveable church furnishings held by the Vicar and Churchwardens on special trust for the PCC, and which require a faculty for disposal, are accounted as inalienable property unless consecrated. They are listed in the church’s inventory. For inalienable property acquired prior to year 2000 there is insufficient cost information available and therefore such assets are not valued in the accounts. Items acquired thereafter will be capitalised and depreciated in the accounts over their anticipated useful economic life on a straight line basis; to date no such items have been acquired.

All small expenditure incurred in the year on consecrated or beneficed buildings, individual items under £1000 or on repairs of moveable church furnishings acquired before 1 January 2000 is written off.

Other assets costing over £1,000 are written off over the estimated useful life.

Investments

Investments are valued at mid market value at 31 December.

Current assets

Amounts owing to the PCC at 31 December in respect of fees, rents and other income are shown as debtors less provision for amounts that may prove uncollectable.

Page 26

ST EDMUND, KING & MARTYR, ST MARY WOOLNOTH AND ST CLEMENT EASTCHEAP

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

**Note ** Unrestricted Designated Restricted Total Unrestricted Designated Designated Restricted Total
funds funds funds funds funds funds funds funds
2025 2025 2025 2025 2024 2024 2024 2024
INCOME FROM £ £ £ £ £ £ £ £
**2a. ** Voluntary income
Grants including grants from SDVHF 11 18,804 0 117,306 136,110 20,865 0 121,250 142,115
Planned giving 296,589 0 0 296,589 231,475 0 0 231,475
Gift Aid 62,933 19 0 62,952 45,211 1,352 0 46,563
Annual Parish Rate 11,585 0 0 11,585 17,720 0 0 17,720
Sundry donations 5,194 3,938 0 9,131 3,663 14,106 0 17,769
395,105 3,957 117,306 516,368 318,935 15,458 121,250 455,643
**2b. ** Charitable Activities
Lettings, rent & wayleaves 26,924 0 0 26,924 15,543 0 0 15,543
Scaffolding & rights of lights licenses 33,839 0 0 33,839 43,434 0 0 43,434
Income from coffee stall 88,861 0 0 88,861 96,118 0 0 96,118
Events and conferences 2,475 7,642 0 10,117 2,311 0 0 2,311
Internship program fees 0 2,200 0 2,200 (6) 1,450 200 1,644
Weddings & Funerals 600 0 0 600 681 0 0 681
152,700 9,842 0 162,542 158,082 1,450 200 159,732

3 CHARITABLE EXPENDITURE 2025

CHARITABLE EXPENDITURE 2025
Building costs
Services & Worship
Discipleship & community
Evangelism, mission & outreach
Coffee Shop
Allocation of clergy costs
Allocation of staff costs
Allocation of support costs
Totals
Support costs have been allocated in proportion to the staff costs
CHARITABLE EXPENDITURE 2024
Building costs
Services & Worship
Discipleship & community
Evangelism, mission & outreach
Coffee Shop
Allocation of clergy costs
Allocation of staff costs
Allocation of support costs
Totals		 Direct
costs
Clergy costs Staff costs
Support costs Total costs
2025
2025
2025
2025
2025
£
£
£
£
£
174,349
17,672
61,147
3,938
257,106
54,323
17,672
38,221
2,461
112,677
18,912
17,672
53,629
3,454
93,666
45,628
17,672
93,440
6,017
162,757
60,464
87,666
5,645
153,776
353,677
70,686
334,102
21,515
779,981
70,686
(70,686)
0
334,103
(334,103)
0
21,515
(21,515)
0
779,981
0
(0)
0
779,981
Direct
costs
Clergy costs Staff costs
Support costs Total costs
2024
2024
2024
2024
2024
£
£
£
£
£
113,979
16,309
56,358
3,881
190,526
29,033
16,309
46,014
3,169
94,524
23,838
16,309
7,301
503
47,950
57,086
16,309
81,751
5,630
160,775
56,554
82,670
5,693
144,917
280,489
65,234
274,093
18,877
638,693
65,234
(65,234)
0
274,093
(274,093)
0
18,877
(18,877)
0
638,693
0
0
0
638,693

Page 27

Expenditure- direct costs
Building Costs
Cleaning& Hygiene
Depreciation
Sundry
Repairs & maintenance
Utilities
Building enhancements
Services and Worship
Sunday,digital & special services
Worship&prayer ministry
Legal & parocial costs
Discipleship and community
Alpha course and discipleship
Community& pastoral
Men, women, student & youth
Conferences, courses & schools
Evangelism, Mission and Outreach
Creative & digital evangelism
Gospel musicals & showcases
Outreach &physical evangelism
Wider Christian Support
Coffee Shop
Contractor. Payroll & staff costs
Maintenance
Marketing
Other direct costs
Operatingcosts
Coffee,food & drink costs
Equipment & consumables
Total Direct Costs
Support Costs
Administration & sundry costs
Independent Examination
Contractor and payroll costs
Volunteer & training costs
Clergy costs
Priest & ministerial		 Unrestricted
Designated
Restricted
Totals
Unrestricted Designated
Restricted funds Totals 2024
2025
2025
2025
2025
2024
2024
2024
2024
£
£
£
£
£
£
£
£
23,243
0
0
23,243
20,895
0
0
20,895
6,000
0
14,855
20,854
10,704
0
17,178
27,531
1,784
0
0
1,784
445
0
0
445
15,741
15,672
62,698
94,111
20,124
2,925
4,521
27,569
32,484
0
0
32,484
32,813
0
2,498
35,312
0
0
1,874
1,874
261
0
1,965
2,226
79,251
15,672
79,427
174,349
85,242
2,925
26,161
113,979
49,646
0
1,127
50,772
24,393
0
0
24,393
1,813
1,003
0
2,815
2,006
1,804
0
3,811
735
0
0
735
829
0
0
829
52,193
1,003
1,127
54,323
27,228
1,804
0
29,033
1,522
0
10,862
12,384
2,993
0
11,064
14,057
1,866
0
0
1,866
5,291
0
0
5,291
3,458
0
0
3,458
3,345
0
0
3,345
1,204
0
0
1,204
1,145
0
0
1,145
8,050
0
10,862
18,912
12,774
0
11,064
23,838
1,879
0
3,308
5,187
3,008
0
2,072
5,080
631
0
6,433
7,064
276
0
16,588
16,864
633
0
0
633
142
0
0
142
32,744
0
0
32,744
35,000
0
0
35,000
35,887
0
9,741
45,628
38,426
0
18,660
57,086
704
0
0
704
3,423
0
0
3,423
1,477
0
0
1,477
1,154
0
0
1,154
1,742
0
0
1,742
81
0
0
81
5,420
0
0
5,420
8,565
0
0
8,565
1,637
0
0
1,637
2,842
0
0
2,842
36,854
0
0
36,854
35,355
0
0
35,355
12,631
0
0
12,631
5,133
0
0
5,133
60,464
0
0
60,464
56,554
0
0
56,554
235,845
16,675
101,157
353,677
220,225
4,729
55,885
280,489
7,550
0
0
7,550
7,505
0
0
7,505
1,500
0
0
1,500
1,250
0
0
1,250
6,486
0
0
6,486
4,838
0
264
5,102
5,979
0
0
5,979
5,020
0
0
5,020
21,515
0
0
21,515
18,613
0
264
18,877
70,686
0
0
70,686
58,934
0
6,300
65,234
70,686
0
0
70,686
58,934
0
6,300
65,234

4 STAFF COSTS

In 2025 payroll FTE's totalled 10.5 (2024 7.8). Average staff numbers came to 14.4 (2024 13). No staff members were paid more than £60k pa.

Payroll costs were as follows:
Gross salaries on payroll
Employers pension contribution
Employers NI net of employers allowance
Staff costs allocated from St Margaret's Lothbury		 2025
2024
£
£
294,531
247,182
5,909
4,759
33,663
14,275
0
7,877
334,103
274,093

Page 28

The key management role is fulfilled by the incumbent, the Revd Wole Agbaje, who receives his stipend from the diocese.

5 GOVERNANCE COSTS

5
6
7
8
9
**a **		 GOVERNANCE COSTS
2025
2024
£
£
Governance costs consisted of fees for the accounts preparation and independent examination.
1,500
1,250
TANGIBLE FIXED ASSETS
2025
2024
Cost of fixed assets- opening balance 1st Jan
182,185
166,033
Additions
27,259
16,152
Disposals
0
0
Closing balance re cost of fixed assets as at 31st December
209,443
182,185
Depreciation of fixed assets- opening balance 1st January
113,780
86,248
Depreciation charge
28,380
27,531
Closing balance on Depreciation 31st December
142,160
113,780
Opening balance- net assets 1st January
68,405
79,785
Closing balance- net assets 31st December
67,284
68,405
FIXED ASSET INVESTMENTS
Listed
Listed
securities 2025 securities 2024
Market value
Opening balance
696,140
664,318
Withdrawn from fund
0
0
Movement in market value
(10,489)
31,822
Closing balance
685,651
696,140
Market value
Market value
These investments consist of the following:
31st Dec 2025
31st Dec 2024
£
£
CBF Income Shares
681,591
692,177
CBF Fixed Intererst securities
4,061
3,963
685,652
696,140
DEBTORS
2025
2024
Due within one year
£
£
Accounts receivable
13,291
31,374
Prepayments
101
2,253
Accrued Income
111
15,064
Gift aid accrued
16,813
43,951
Owed by SDVH
33,667
0
63,983
92,642
CREDITORS
2025
2024
Amounts falling due within one year
£
£
Accruals and deferred income
7,773
7,109
VAT owed to HMRC
4,882
0
Accounts payable
10,059
12,725
22,714
19,835
STATEMENT OF FUNDS (2025)
Carried
Incoming
Resources
Gains/losses Transfers
Carried
forward
resources
expended
on investments
forward
£
£
£
£
£
Unrestricted Funds
275,947
548,269
(584,639)
0
(7,390)
232,187
Designated funds
St Mary Woolnoth fabric repair and maintenance
22,568
0
0
0
0
22,568
St Clement Eastcheap fabric funds
19,025
0
0
0
0
19,025
St Edmund fabric funds
17,300
0
(15,672)
0
0
1,628
Generosity- Family
1,226
4,795
0
0
0
6,021
Internship- New Wine Discipleship Year
1,450
0
0
0
0
1,450
Internship- IMPRINT Scheme
0
2,200
0
0
0
2,200		 GOVERNANCE COSTS
2025
2024
£
£
Governance costs consisted of fees for the accounts preparation and independent examination.
1,500
1,250
TANGIBLE FIXED ASSETS
2025
2024
Cost of fixed assets- opening balance 1st Jan
182,185
166,033
Additions
27,259
16,152
Disposals
0
0
Closing balance re cost of fixed assets as at 31st December
209,443
182,185
Depreciation of fixed assets- opening balance 1st January
113,780
86,248
Depreciation charge
28,380
27,531
Closing balance on Depreciation 31st December
142,160
113,780
Opening balance- net assets 1st January
68,405
79,785
Closing balance- net assets 31st December
67,284
68,405
FIXED ASSET INVESTMENTS
Listed
Listed
securities 2025 securities 2024
Market value
Opening balance
696,140
664,318
Withdrawn from fund
0
0
Movement in market value
(10,489)
31,822
Closing balance
685,651
696,140
Market value
Market value
These investments consist of the following:
31st Dec 2025
31st Dec 2024
£
£
CBF Income Shares
681,591
692,177
CBF Fixed Intererst securities
4,061
3,963
685,652
696,140
DEBTORS
2025
2024
Due within one year
£
£
Accounts receivable
13,291
31,374
Prepayments
101
2,253
Accrued Income
111
15,064
Gift aid accrued
16,813
43,951
Owed by SDVH
33,667
0
63,983
92,642
CREDITORS
2025
2024
Amounts falling due within one year
£
£
Accruals and deferred income
7,773
7,109
VAT owed to HMRC
4,882
0
Accounts payable
10,059
12,725
22,714
19,835
STATEMENT OF FUNDS (2025)
Carried
Incoming
Resources
Gains/losses Transfers
Carried
forward
resources
expended
on investments
forward
£
£
£
£
£
Unrestricted Funds
275,947
548,269
(584,639)
0
(7,390)
232,187
Designated funds
St Mary Woolnoth fabric repair and maintenance
22,568
0
0
0
0
22,568
St Clement Eastcheap fabric funds
19,025
0
0
0
0
19,025
St Edmund fabric funds
17,300
0
(15,672)
0
0
1,628
Generosity- Family
1,226
4,795
0
0
0
6,021
Internship- New Wine Discipleship Year
1,450
0
0
0
0
1,450
Internship- IMPRINT Scheme
0
2,200
0
0
0
2,200		 2025
2024
£
£
1,500
1,250
2025
2024
182,185
166,033
27,259
16,152
0
0
209,443
182,185
113,780
86,248
28,380
27,531
142,160
113,780
68,405
79,785
67,284
68,405
Listed
Listed
securities 2025 securities 2024
696,140
664,318
0
0
(10,489)
31,822
685,651
696,140
Market value
Market value
31st Dec 2025
31st Dec 2024
£
£
681,591
692,177
4,061
3,963
685,652
696,140
2025
2024
£
£
13,291
31,374
101
2,253
111
15,064
16,813
43,951
33,667
0
63,983
92,642
2025
2024
£
£
7,773
7,109
4,882
0
10,059
12,725
22,714
19,835
22,568
0
0
0
0
22,568
19,025
0
0
0
0
19,025
17,300
0
(15,672)
0
0
1,628
1,226
4,795
0
0
0
6,021
1,450
0
0
0
0
1,450
0
2,200
0
0
0
2,200

10a STATEMENT OF FUNDS (2025)

Page 29

Musicals
House of Prayer
Restricted Funds
Fabric repair fund including spend on STEK & SMW refurb
SDVH- St Edmunds Building Project
Note below
Gifts for Holland Room refurb
Ministry Staff- CCGC grant
Emergency SMW Tower repairs (CCGC)
Emergency SMW Tower repairs Options appraisal and fundraising
IMPRINT- Summer Musical
SDVH grant for repair work STEK
National Church- Innovation Fund (Funds received in Feb 26 to clear)
Restricted funds represented by fixed assets
St Edmunds Building Project
Cultural Recovery Fund- SMW
Innovation Fund
Total restricted funds
Total Funds		 0
2,177
0
0
0
2,177
5,817
4,627
(5,892)
0
0
4,552
67,387
13,799
(21,564)
0
0
59,621
737,715
0
0
(10,489)
0
727,226
(4,403)
2,437
(2,987)
0
7,390
2,437
139
0
0
0
0
139
181
29,487
(27,820)
0
0
1,848
62,444
0
(25,926)
0
0
36,518
28,806
0
(14,965)
0
0
13,841
1,476
0
(14)
0
0
1,462
0
21,808
(21,808)
0
0
0
11,739
63,300
(76,518)
0
0
(1,479)
838,097
117,032
(170,037)
(10,489)
7,390
781,993
42,007
0
(13,859)
0
0
28,148
452
0
(452)
0
0
(0)
0
2,711
(542)
0
0
2,169
42,460
2,711
(14,853)
0
0
30,317
880,556
119,743
(184,889)
(10,489)
7,390
812,310
1,223,889
681,810
(791,093)
(10,489)
0
1,104,118

Note re St Edmunds Building Project. Due to an error in 2024 of £7,700 in capitalising the grant expenditure, there was an opening deficit on this fund. Therefore the 2025 spend and the opening balance have been transferred to unrestricted funds

Descriptions of funds

Designated funds

Fabric Funds - St Mary Woolnoth

Licence fees received in 2020/21 to cover maintenance of the 3 churches following the addition of St Clement Eastcheap to the building obligations

Fabric Funds - St Clement Eastcheap Licence fees received in 2020/21 to cover maintenance of the 3 churches following the addition of St Clement Eastcheap to the building obligations Fabric Funds - St Edmund Licence fees received in 2020/21 to cover maintenance of the 3 churches following the addition of St Clement Eastcheap to the building obligations

Generosity - Family Fund Donations received and allocated to support members of the community going through hardship Internship - New Wine Discipleship Year Income received from students as they participate in the church internship programme. The money received is used to supplement and subsidise the activities the students participate in Internship - IMPRINT Scheme Income received from students as they participate in the IMPRINT London church internship programme. The money received is used to supplement and subsidise the activities the students participate in Musicals Income received from the ticket sale of the IMPRINT London musical. The money received is

The money received is used for current and future musical and showcases House of Prayer Donations received and allocated to support the dedication of St Mary Woolnoth as a House of Prayer

Restricted Funds

Shares - Fabric repair fund Investments with CCLA SDVH - Building Project 2020 SDVH and CCGC grant for interior refurbishment and technology enhancements of St Edmund the King Private - Holland Room 2018 Donation by The Holland Family towards the furnishing of the Holland Room of St Mary Woolnoth CCGC - Ministry Staff 2023 CCGC grant cover the salaries of a Youth Pastor and Ministry Project Manager. CCGC - Emergency SMW Tower repairs CCGC Grant for Emergency Repairs of St Mary Woolnoth CCGC - Emergency SMW Tower Options CCGC Grant for an Options Appraisal of St Mary Woolnoth IMPRINT - Summer Musical IMPRINT grant to supplement the various musicals and showcases which the parish hosts. SDVH - STEK Repair work St Dionis Vestry Hall grant to cover refurbishment and repairs of St Edmund the King & Martyr National Church - Innovation Fund National Church grant to cover Interns, Creative Director and Musical tour.

10b STATEMENT OF FUNDS 2024

Unrestricted Funds
Designated funds
St Mary Woolnoth fabric repair and maintenance
St Clement Eastcheap fabric funds
Generosity- Family
St Edmund fabric funds
New Wine Discipleship Year
House of Prayer
Restricted Funds
Fabric repair fund including spend on STEK & SMW refurb
St Edmunds Building Project
Gifts for Holland Room refurb
A Baughen rent
Ministry Staff- CCGC grant
Grant for Fibre broadband (CCGC)
Emergency SMW Tower repairs (CCGC)
Emergency SMW Tower repairs Options appraisal and fundraising		 Brought
Incoming
Resources
Gains/losses Transfers
Carried
forward
resources
expended
on investments
forward
£
£
£
£
£
293,929
477,016
(494,999)
0
0
275,947
22,568
0
0
0
0
22,568
20,000
0
(975)
0
0
19,025
0
1,226
0
0
0
1,226
19,250
0
(1,950)
0
0
17,300
0
1,450
0
0
0
1,450
0
14,232
(8,415)
0
0
5,817
61,818
16,908
(11,340)
0
0
67,386
703,594
2,299
0
31,823
0
737,715
2,528
0
(2,343)
0
0
185
139
0
0
0
0
139
0
6,300
(6,300)
0
0
0
0
29,487
(29,306)
0
0
181
2,498
0
(2,498)
0
0
0
61,612
3,781
(2,949)
0
0
62,444
30,000
0
(1,194)
0
0
28,806

Page 30

Summer Musical
Innovation Fund
Restricted funds represented by fixed assets
Fabric repair fund assets
St Edmunds Building Project
Cultural Recovery Fund- SMW
Security system
Total restricted funds
Total Funds		 5,000
0
(3,524)
0
0
1,476
4,639
81,883
(74,782)
0
0
11,739
817,710
123,749
(122,896)
31,823
0
842,685
2,984
0
(2,984)
0
0
0
50,360
0
(12,941)
0
0
37,419
906
0
(454)
0
0
452
800
0
(800)
0
0
0
55,051
0
(17,179)
0
0
37,872
865,060
123,749
(140,075)
31,823
0
880,558
1,220,807
617,672
(646,413)
31,823
0
1,223,891

11 ANALYSIS OF NET ASSETS BETWEEN FUNDS

Fixed assets
Current assets
Creditors due within one year
NET ASSETS		 Unrestricted
Designated
Restricted
Total
Unrestricted Designated
Restricted
Total
funds
funds
funds
funds
funds
funds
funds
funds
2025
2025
2025
2025
2024
2024
2024
2024
£
£
£
£
£
£
£
£
36,967
0
715,969
752,935
30,532
0
734,013
764,545
217,934
59,621
96,341
373,897
265,250
67,386
146,545
479,181
(22,714)
0
0
(22,714)
(19,835)
0
0
(19,835)
232,187
59,621
812,310
1,104,118
275,947
67,386
880,558
1,223,891

12 RELATED PARTIES

There were £44.6k (2024 £38.2k) identifiable gifts during the year from members of the PCC.

The church wardens are also trustees of the St Dionis Vestry Hall Fund. Grants were received by the PCC as follows (see 2a above):

The church wardens are also trustees of the St Dionis Vestry Hall Fund. Grants were received by the PCC as follows (see
2a above):
Annual contribution to PCC
Grant towards works at St Edmunds		 2025
2024
£
£
10359
10,118
21,808
0
32,167
10,118

Revd Wole Agbaje, Shammah Agbaje and Benita Thambipillai were all serving on the PCC in 2025 and were also trustees of IMPRINT. Imprint church became the parish congregation at St Edmund, King & Martyr on the 1st of January 2023 and now have responsibility for the whole parish.

IMPRINT is a charitable organisation dedicated to supporting the activities of churches within its network, such as the parish of St. Mary Woolnoth, St. Edmund the King, and St. Clement's Eastcheap (IMPRINT Church London), as well as IMPRINT Church Leicester. The areas of support encompass creative outreach, training, resource provision, church planting, and anything else that enables the growth, mission, and ministry of the IMPRINT network and its affiliates

No expenses were reimbursed to trustees in their role as trustees in 2025 (2024: nil) except for expenses incurred on behalf of the PCC. During the year, no Trustees received any benefits in kind (2024 - £NIL).

Alikem Amafu-Dey was a trustee in 2025 and received remuneration of £36,465 and pension contributions of £801 In 2024 he received £3,875 by invoice for his work as Megan Beamish served as a trustee up to May 25 and during that period received remuneration as a member of staff of £7,571 plus pension contributions of £227 (2024: £10,586 and £62) through the payroll.

Luca Martini served as a trustee from May 25 and during that time received remuneration as a member of staff of £19,635 plus pension contributions of £589. Pedro Neto served as a trustee from May 25 and during that time received remuneration as a member of staff of £23,368 plus pension contributions of £701.

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