The Parochial Church Council of The Ecclesiastical Parish of St Stephen with St Mark, Lewisham Financial Statement For the year ended 31 December 2024
Legal & Admln18tratlve Deta118 Charlty Name: The Parochial Church Councll of The Eccleslastlcal Parl8h of St Stephen wlth St Mark, Lewlsham Charfty Number: 1188447 Chartty Addre88: St. Stephen8 Vlcarage Cre88lngh8m Road London SE13 SAG Trustees: Rev Mlchael Joseph Balley Lynd8 Monlca Whttney Charles Nathanlel Brltton Father Francls Gardom Judith Patricia Burk8 Adrlan CarltorFOatley Greta Lyn Town8end Anne Kennedy Vlvlenne Mllllcent Spen Father Peter John Hud80n Sandr8 Balden Davld Lloyd Sharon Sonla Gllze8n• A1188 Mary Temple Celia Bush Key Management Personnel: Father Mlchael Balley Parish Priest Name & Address of Prlmary Banker: Lloyds Bank plc 25 Gresham Street London EC2V 7HN Independent Examlner: Mr Mllton Sawyefr FCCA 54 Hansol Road Bexleyheath Kent DA6 8JG
Contents Page No Legal & Admlnistratlve Detsi18 Trustees Report Independent Examlner8 Report Statement of Flnancial Actlvltles Statement of Flnancial Posltlon Notes - Accountlng Polldes Note6 - Analysls of Incorm & Expendlture Note8 - Analy818 of Net Assets Be88n Fund8 Note8 - Olher 10-11 12 13-15
Tru8tee8 Report Objects of th• charlty The Parochlal Church Councll of St Stephen and St Mark Lewlsham (PCC) has the responslblllty of cfroperating with the incumbenl. Ff Mlchael Balley, In promotlng the eles18&t1C8l par18h, the wholè mlsslon of the church, pastoral, ev8ngellstlc, 80c1818nd ecumenlcal. The PCC18 commltted to enabling as many people as posslble to wor8hlp wlth us and to becom part ofour parish communlty. The PCC m8lntaln8 an overvlew of wor8hlp throughout the pari8h and makes suggestions on how our servlces can Involve the rnany groups that Ilve wlthln the parlsh. Our servlces and worshlp put f81th Into practlce through prayer, scripture. muslc and 88crament. en plannlng our actlvltle8 for the year. the Incumbent and the PCC have considered the Charty Commlsslon's guldance on publlc benefft, and partlcularly the 8upplementsry guidance on charitie8 for the advancement of rellglon. Wo try to enable ordlnary people to Ilve out thelr falth as part ofour parish communlty through: Worship and prayer: leamlng about the Gospel and developlng thelr knowl&Jge and trust In Je8US Provlslon of pastoral care for wple Ilvlng In the parlsh Mlsslonary and outreach work To facilltate th18 Wofk. ft18 Import8nl that we malntaln the labrlc and Improve the fadlftle8 of our church bulldlng and halls. Summary ol the charlty's maln actlvltles and aChVementS To further the above objects and v181on, the church'8 maln actlvlt188 and achlevements were a8 follows; Worshlp: The Church holds regular church setvlces, Indudlng Sunday worshlp, 6peclal 8ervic88 for event8 Ilke Christmas and E8Ster. and other Ilturglcal celebratlons, Splrltual Guldance: Durlng the year, we offer 8plritual guidance and support through dergy, prayer, and re80ure88 for reflection and faith development. Sacraments: The Church perfoms sacraments Includlng baptlsm. marrfage, and the Eucharlst (Hoty C¢)mmunion). Minlstry., The Church provldes rninistry to Indlvlduals and farnllles, Includlng p88toral care, counselllng, and 8UPPOrt during lrfe tran8itlon8. In planning the 8Ctlvlties. the trustees h8ve applled the guidance on public benefft Issued by the Charlty Comm188ion.
Structur•, Governanc• and Managom•nt The PCC Is a corporate body e8tabll8hed by the Church of England. The method of appointment of PCC member818 8et out In the Church Representstlon Rules. Memb8r8hlp of the PCC con81st8 of the Vlcar. churchwardens and members elected by th08e members of the congregatlon who are on the electoral role of the church. Members of the congregatlon are encouraged to reglster on the Electoral Roll 8nd stand for election to the PCC. PCC membern are respon81ble for m8klng ded8lons on all matter8 of general concern and Importance lo the parlsh Includlng decldlng on how tho fund8 of the PCC are to be 8penl. New member8 have some Inductlon and are made aware ol their re8pon81biliti88. Flnanclal Revlew Under the Church Accountlng Regulatlons of 2006 fund8 are now to be deemed 88 Unre8trfcted, Restrlcted or Endowment. The PCC has agreed that the General Fund 18 to b6 classed a8 Unrestrfcted and the remalnSng funds 88 Restricted, vlth no funds classed as Endowment Fund8. We ended the year wlth 8 deflcft of £12,686 (2023, Surplu8 of £14,952), whlch Is tho net amount resultlng from both restrlcted and unrestrlcted actfvltles durlng the year. A breakdown of th16 figure 13 detalled on tha ststemenl of financial 8Ctivitle8. Income from donatlons18 down compared to last yearfs figures, and so Is Income from hall lettingg and parl8h fees. Totsl expendlture18 up compared to last year. Desplte the result. the Church has 8ufficlent reserves to carry out projects and to further 5ts rni88lon In knowlng Chr18t and maklng hlm known. R8•erv•s Pollcy It Is the PCC pollcy to m8lnt81n the recommended balance on unre8tr1ct8d lunds whlch equates to at lea8t three month8 unrestricted payments. The cash balance on the unrestrlcted fund8 at the year•nd was more than the mlnlmum requlred value. R88ponBlbllltle8 01 TnMtee8 under charlty law Th8 tru8te88 are responslble for preparlng the tru8tee8' annual report and the financlal 8tatem8nts In accordance with applic8bl8 law and UK Accounllng Standards (Unlted Kingdom Generally Accepted Accountsng Practice). Charlty law requlres the tru8t888 to prepare financlal statements for each financlal year whlch give a true and lalr vlew ol the state of the affairs of the charlty 88 at the balance 8heet date and of tts Incomlng resource8 and appllcatlon of resources, Includlng Income and expenditure. for the financlal year. In preparing these financial ststements, the trustees are required to: 1 . Select sultable accountlng pollcl88 and appty them consl8tenty. 2. obseNe the method8 and prtnclple8 In th8 Charttkn SORP. make judgements and e8tirnates that are reasonable and prudent:
- stste whether the appllcable accountlng 8tand8rd8 have been followed, 8ubject to any materlal departure8 disclosed and explalned In Ihe financial ststements; and
- prepare the financlal 8tatements on a golng concern basls unle88 It 18 Inapproprl8te to presume th81 th8 charlty wlll contlnue In operatlon, The truste88 are re8ponslble lor keeplng proper accounung records that dlsclos8 wlth reasonable accuracy at any tlme the financial p081tlon of th8 charlty and enable Ihem to ensure that the financlal ststements comply wlth the Charitles Act 2011 and the Charty (Accounts and Report8) Regulatlons
- They are also rnsponslble for 8afeguarding the assets of the charlty and hence for taklng reasonable 8tep8 for the preventlon and detectlon of fraud and other Irregularltles. 81gnaturn Th18 report was approved by the tru8te88, 8nd18 81gned on their b8hatt by: Nan Sbgn•lur• 04t•
Independent Examlnern Report I report to the trustees on my examlnatlon of Ihe accounts of The Parochlal Church Councll ol Tho Eccleslastlcal Parish of St Stsphen wilh Sl Mark. Lewi8ham ('the charlv) for the year ended 3111212024. The charity'8 trustees are responslble for the preparallon of tho accounts. The charlty's trustees con8lder that an audit 18 not required for thls year under 8ectlon 144(2) of the Charltie8 Act 2011 (the 2011 Act) and that an Independent examlnatlon18 needed. It18 my r88pon81bilty to: examlne the accounts under 8ectlon 145 of the 2011 Acl to follow the procedures lald down In the general Dlrectlons glven by the commlsslon under sectlon 145(5)(b) of the 2011 Act to state whether partlcular matter8 have come to my attentlon My examlnatlon wa8 carried out In accordance wfth the General Dlrectlons glven by the Charlty Comrnls81on under sectlon 4317){b) of the Act and to be found In the Church Guldance, 2006 6dltlon, issued by the Finance Dlvlsion of the Archblshops. Councll. That examin8tlon Indudes a review of the accounting records kept by the PCC and a comparison of the accounts with th08e records. It also Includes conslderlng any unusual ttems or dl8d08ures In the account and 8eeklng explan8tlon8 from you as trustees concemlng any such matter3. The proc£dures undertaken do not provlde all the evldence that would be requlred In an audlt, and con8equenUy I do not expre88 an audit oplnlon on the vlew glven by th8 accounts. an mln In connecllon wfth my ex8rnln8tion, no m8tt8r h88 com8 to my 8ttentlon: . 1 , whlch glve8 me rea80nable cause lo belleve that In any materlal respect, tho requlrem6nts.' to keep accountlng record8 In accordance wlth section 130 01 the 2011 Act: and to prepare financial 8tatements, whlch accord wlth the accountlng records and compty wlth the requlrement8 of the 2011 Act 8nd the Regulatlons have not been meL 2. to whlch, In my oplnlon, attentlon should be drawn In order to enable a proper understandlng of the accounts to be reached. Indopondent Examlnerf8 Detslls Name: Mr Mlfton Sawyerr FCCA Address: 54 Hansol Road 8exleyhe8th Kent DA6 8JG Mllton Sawyerr Sl9n•lurn
Statement of Flnanclal Actlvltles TIJW Pmp Y•if Ocn•¥on• & L•9•d•• 7.OlQ L•Jino• & F••• 25,15S 524 524 yyiz 7.mo 61 e8, 1(JQ 12,717 71,2 Fund• pl,•)h TrInrI In FWMI Tr•nthr• Oul ••p In¥••trn)l G•kth lsx Lo••••> 1 14 41 Tcthi Fund• 8r4•i F+yw•rd 17.372 14.479 36,899 .627 29.627 37.372 (Unf••trthdl R••trthé. Chx¢l¥ l¢kn•rnl) (Rwtrthd} Putrt•l. CM & (hp•n lA••tr•0> 10,3PJ 2,186 11 440 (RwifvJ•d) 103 {R••ty*d) 632 {R••tylCI) IR••tytsX•d)
Statement of Flnanclal Posltlon RM•rlC Twl 31.412 10 Jl,620 44.067 )1 411 FIa AM•l• 10,CQO K£wit• P)y4t4• 6ba 431 1,711 1.788 T•mi LOM I Uty•g• Il Currort A•th 41, sly, R•pNknd By Unfmtrthd. Chwth {Owd} {Vnry•irtGt•J) 2•.Q7 2•,Q7 7,8¥0 (Rwtrtd) . cw 8 ¢>9•n IR••trthdl 440 fR•tS) isj 153 632 639 IR••tsXI R••tsl•d . IR••lrtf•d .1.b63 2.003 Slgnature These accounts have been roved b the twst888. and are signed on their behalf by: sign•lur• Dalo 11. S.2o2S-
Note8 to the Flnanclal Statements Ba818 ol Preparatlon These flnanclal statements have been prepared In accordance wlth the "Statement of Recommended Practlce: Accounting and Reportlng by Charlties preparing their accounts In accordance with the Financial Reportlng Slandard appllcable in the UK and Republic of Ireland (FRS 102) nhe Charities SORP,), with the Flnanclal Reporting Standard appllc8ble In the United Kingdom and Republlc of Ireland ("FRS 102? and wlth the Charit188 Act 2011. The charity meets the definition of a public benefrt entity 88 Set out In FRS 102. The Charltles (Accounts and Reports) Regulatlon8 2008 (the '2008 Regulatlons,) requlre8 charttle8 to prepare their accounts In accordance wlth 'Accountlng and Reportlng by Charities: Ststement of Recommended Practi• effecllve from 1 Aprll 2005, but th18 accountlng standard ha8 81nce been wlthdrawn and has been ieplaced by the Charltle8 SORP mentloned In Ihe precedlng paragraph. The charlty has prepared these flnanclal 8tslements In accordance wlth the new Charttles SORP: thi8 departure from the 2008 Regulatlon8 18 belleved to be nece888ry for these financlal 8tstements to gNe a Irue and falr vievl. The prlnciple8 adopted In the preparatlon of the financlal 8tatsments are set out In th8 accountlng pollcles bolow. Golng Concern The Trustees consider [Charity Name] a going concem at Ihe date for approvlng the accounts. There are no materlal uncert81ntles that the charlty can contlnue a8 a golng concem for the next year. Key Rl8k8 & Uncertalntl88 The charlty is exp08ed to various risks, Including operational, financlal and reputational risk8. The trustees revlew the charlty'8 8ctlvitie8 regularly to Identtfy significant rlsks and, where posslble. they take approprlate measures to mitlgate th08e risks. Fund Accountlng Unrestricted Income fvnds comprlse those fundswhlch the trustees are free to use for any purpose In furlherance of the ch8rit8ble objects. Unrestricted funds include designated fund8 where the trustees, at their discretion, have set aside resources for a speciflc purpose. Restrlcted funds are fund8 whlch are to be used In accordance with 8peclfic restrictions imposed by the donor or the lern of speclfic appeal. Furlher explanatlon of the nature and purp088 of each fund Is Included In the notes to the accounts. Incomlng R8gourc All Incoming resources are recognl8ed once the charlty has entltlement to the resources, It Is probable that the resources will be received, and the monetary value of incoming resources can be measured with suffident rellabllity. All voluntsry Income from member8 of the charlty18 recognlsed as donation8 and are Included In full. wlth associated Gift Akl recelvable In the Ststement ol Financial Activltles. Grants wher8 entftlement Is not condltlonal on the delNery of specffic performanc¢ by the charity are recognlsed when the charlty becomes uncondltlonalty entltled to the granl. Income resources from ch8rftable tradlng actlvltl88 such as the lettlng of the bulldlng are accounted lor when Involces are drawn up (as at the point of entltlement). Donated servlces and facillties are Included at the value to the charlty where th18 can be quantlfied. Glfts In Klnd are accounted for at a reasonable estlmate of thelr value to the charlty or the amount reallsed.
Volunteer tlme, the value of volunlary 8UPPQrt for the work of the ch8rity,18 not IncILd In the account8 but18 descrlbed In the Trustees Annual Report. Investment Income18 Included In the 8ccounts when recelvable Re8ourco• Exp•nd Expendlture Is recognlsed on an 8ccru81 basis 88 a liablllty18 Incurred. Llabllltles are recognlsed where It Is moré Ilkely than not that there Is a legal Of constructlve obllgatlon commlttlng the charfty to pay out the resources and the amount of the obllgatlon can be m8a8ured with reasonable certainty. Governanc• cts Govemance costs Include costs assoclated vlth the Independent 8xamlnatlon of the flnanclal statements, compliance with constitutional and statutory requlrement8 and any other expendkture Incurred on the 8trateglc management of the charlty. Governance costs are shown wlthln 'Analysls ol Expendlture, note. Llablllty Recognftlon Llablllties are recogn16 as 800n a8 there18 a legal or con8tructlve obllgatlon commlttlng the charlty to pay out resources. Tanglble Flxed Asget• A88ets over the value of £1,000 8ro capltallsed. Depreclatlon Is provlded on tsnglble fixed assets at rates calculated to wrlle off the cost of an asset, less Its estimated resldual value, over the expected useful economlc Ilfe of that asset, as follows: Freehold property - 0% Musical and Technlcal Equlpment - 4 year8 on 8tr81ght Ilne bas18 Office and computer equlpment - 4 years on straight line basls Fumlture, flxlures and tlttlngs - 4 year3 on 8tralght Ilne basls In vlew of the malntenance programme In place vthlch alms to keep tha bulldlng in good condition, the trustee8 consider that any depreclatlon of freehold property would be Immaterlal and accordlngly no prov181on h88 been made. The carrylng amount of the freehold property18 revlthved annually for imp8irm8nt by the truste88. Pen8lon8 The charlty ha8 no penslon 8cheme Set up 88 It currenty has no pald 8tsff. Taxatlon The charlty18 exempt from tax on Its charltabl8 activlties. Judgoments and Key Sourc•8 of E•tlmatlon The tru8tee8 do not conslder that there are any mater181 sources of estlmatlon or uncertalnty at the balance sheet date that could result In a materlal adjustment to the carylng values of assets and liabilrties in the next reporting perlod.
",Note8 - Analy818 of Income & Expendlture Analy818 of Incomo Current Year 6.8fO Grnn¢• Ev•nt iiiywlmyprf B•nk Inl•rwl lrnllng Acliviii• R•nthi lrfoffl• 18.8 nih9f Inc4Jm• 5241 S24 1 1 ty7? i ¥Lr Prlor Year Oon•llun• & L•9• 0110n• S.808 15.4•7 GIIA Or•n h•iffl4th Aclivltlb¥• ew•nl I(n• B•nk Int•f 10,155 Ulli Inc4 1%41T 10
Analy818 of Expendlture Current Year cl•1• Acliwilll 3,21 37• ET•wI CI Gf• GWI 27.2•3 Prnm 8IAff Corf• 07.YJ? 11.931 14 lJ441 Prlor Year k Ch•igi• 0,•34 4•0 Prnnl••• 8tsff Cé•i• 11
Notes - Analysls of Net A88ets Between Fund8 Current Year 7(Kni J1.412 31.510 io,(o) 10.¢Xp) Cun•th Llthl¥J Non-curywl LWI••• Prlor Year Trnal 4.17• 44.067 NoTrCuTrwl A••l• 10.000 10.0 Cuff•rt Lbltt•• 2211 2.218 NoTrCuiMI LI1¥•• 12
Notes - Other Volunteers The charlty benefits greatly from the voluntary contrlbutlons of time and money. Independent Examlnatlon Foe• Fees payable to the Independent examlner for Independent examlnatlon were: 2024 - £550 (2023 - £550). Staff Costs There were no staff during the year and hence no staff costs. Trustee Remuneratlon Durlng the year no trustees I PCC member recelved any remunerabon. Tru8tse Expense8 During the year father Michael Bailey who 18 a Irustee Incurred OUtl-pocket exFenses and were Incurred for the day-to-day runnlng of the charlty's 8Ctlvltle8. Trustee Donatlons During the year no donatlons were made to the charity by the trustees and hence theffj were no condition8 attached to donations. Tanglble Flxed Assets prtry lo 1# J•rwry 2024 10,C•XI 10.000 In y•v prtrrf l) l J•wJ•ry 2024 N•1 8ook V•lu• A• •1311 X12J 10,QOO 10.1)00 13
Debtorn Accounts Receivable réoF Prepayment8 Prnp•ym•nt• Credltor8 Accounts Payable T&% & Socknl Tr•O• Crndityx• Deferred Incoff 1.786 Analys18 ol Charftable Funds Current Year 37.372 54.972 IG•nw) IUnrn•tyk•¥ 82,717 | J7.172 e171T 29.07., R••liipl•rt RwlfyX•O. Chufch lQ•w•ll (A•1) 10.3•8 R••lrtt•d. Chotr & Ory IR••trtt•d) 1166 A••trkW. Chwoh Cl••nvJ (R••th*d) 1$3 163 (R••tr•bd) 107 14
(R••vtrJ•J) I.0 Prlor Year Unr•)irtcttyJ . Chur( (O•n•f•ll IUni•trk 37.372. J7,372 A1•d. Clw {G•n•rnl) IR••trk 10.301 10,3911 IR R••Y<4•d. Chu Cl••nlr4 IPl•trthdl 440 18J 153 IR••trlGt•Ji {R••lrtct•O) 2.003 IR••trlel•ai l{rAwj To 14479 1447$ Fund Transfern There were no Fund Tran8fer8 this financlal yeaf. Fund D08crlptlons R••tr*d. cl[ (Gwxrnl) Si s.1 f/ Pfhwy Sdxxl Transactlon8 to Related Partles There were no tran68Ctlons related partie8 during Ihe accounting period. Prlor Perlod Adjustment There were no prior year adjustments. 15