2023-06-30-accounts - First Church Of Christ, Scientist, London

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						Total	Total
					Notes	2023	2022
						(9months)	(12months)
							6
Income and endowments		from:
Donations and legacies						10,878	259,197
Charitable activities						2,143	2,306
Investments						225,016	242,433
Total Income						238,037	503,936
Expenditure on:
Raising funds - investment		management		fees		30,236	38,920
Charitable activities						169,630	318,639
Total expenditure						199,866	357,559
Net income/(expenditure)		before Investment
(losses)/gains						38,171	146,377
Net losses/(gains)	on investments				12	185,466	(337,894)
Gain on revaluation	ofinvestment		properties		10
Loss on disposal offixed assets Foreign exchange gain/(loss)							(17) 992
Net movement in	funds					223,637	(190,542)
Reconciliation of	funds
Fund balances brought forward at 1 October 2022					14	11,486,051	11,676,593
Fund balances carried forward at 30				June 2023	14	11,709,688	F11,486,051

				Note	2023	2022
					6	6
Fixed Assets
Tangible fixed assets				9	1,205,092	1,212,323
Investment properties				10	5,100,000	5,100,000
					6,305,092	6,312,323
Current Assets
Reading Room	Stock				4,655	6,038
Debtors				11	6,767	28,338
Waverton Investment		Portfolio		12	5,250,267	5,065,450
Cash at bank and in hand					173,282	100,820
					5,434,971	5,200,646
Creditors: amounts		falling due	within one year	13	30,375	26,918
Net Current Assets					5,404,596	5,173,728
Net Assets				15	F11,709,688	611,486,051
Funds
Unrestricted
- General				14	2,689,158	2,453,341
- Designated	Fund	—Youth Fund		14	11,798	16,747
- Designated	Fund	—Fixed Asset Fund		14	6,305,092	6,312,323
- Designated	Fund	—Building	Fund	14	2,703,640	2,703,640
				14	611,709,688	611,486,051

	recorded at tra	recorded at tra	nsaction price. Any losses arising from i	mpairments are recognised in expe	nditure.
2.	DONATIONS		AND LEGACIES	Total	Total
				2023	2022
				6	8
	Collections			3,416	4,628
	Donations			3,961	4,960
	Covenants			3,501	6,221
	Legacies				243,388
				510,878	F259,197
3.	CHARITABLE		ACTIVITIES	Total	Total
				2023	2022
	Reading	room	sales	82,143	82,306
4.	INVESTMENT		INCOME	Total	Total
				2023	2022
					E
	Rent			135,236	130,413
	Dividends	and	interest	89,780	112,020
				f225,016	6242,433

5.	ANALYSIS OF EXPENDITURE	ANALYSIS OF EXPENDITURE			Direct	Grants		Support	Total	Total
	ON CHARITABLE ACTIVITIES				Costs	funding		costs	2023	2022
						6			6
	Salaries Fees- organist and soloists				30,706 14,107			41,337	72,043 14,107	89,622 18,180
	Reading room purchases				5,814				5,814	5,381
	Lectures				9,122				9,122	4,892
	Grants/subsidies paid (note	7)				16,985			16,985	34,248
	Church maintenance							13,409	13,409	41,483
	Telephone, light and heat							8,970	8,970	10,161
	Printing and stationery							2,485	2,485	3,352
	Insurance							5,128	5,128	6,744
	IT Support							1,088	1,088	2,536
	Bank charges							410	410	558
	Membership fees							1,120	1,120	1,190
	Investment property professional		fees					7,269	7,269	5,181
	Investment property refurbishment			&
	maintenance							793	793	11,880
	Investment property utilities									2,938
	Miscellaneous expenses							56	56
	Governance costs - Audit fees							3,600	3,600	4,078
	Depreciation ofchurch building							4,376	4,376	67,894
	Depreciation ofequipment							2,855	2,855	3,674
	Travel expenses									4,561
					859,749	816,985		692,896	6169,630	6318,639
6.	ANALYSIS OF COMPARATIVE		DIRECT		Direct			Grant	Support	Total
	AND SUPPORT COSTS BYACTIVITY				costs			funding	Costs	2022
	Church activities				666,576		f34,248		9217,815	8318,639
7.	ANALYSIS OF GRANTS				Donations		Donations
					to			to	Total	Total
					institutions		individuals		2023	2022
	Church activities				616,000			6985	616,985	834,248
	Recipients ofdonations to	institutions							2023	2022
	Hawthorne Trust Limited								5,000	20,000
	The Aid Fund								1,000	1,000
	Glass Door Homeless Charity								1,000	2,000
	TMC Emergency Relief								1,000	1,000
	Easter Camp Donation								1,000	1,000
	Sunrise ofAfrica								1,000	1,000
	Mountlands Trust Limited								5,000	5,000
	Joint CS Reading Room									1,000
	Polish Church									2,000
	Focus Donation/Junior	Focus							1,000
									F16,000	F34,000


STAFF	COSTS	2023	2022
			8
Salaries	and Wages	70,476	87,695
Social Security Costs		732	889
Pension	Costs	835	1,038
		272,043	889,622
The average number ofemployees,		2023	2022
analysed	by function was:	Number"	Number"
Church	Services	1	2
Reading	Room	2	2
Church	Building	1	1
Management and Administration		1	2
		5

	Total remuneration received by key m	anagement amounted	to 8NII (2022: fh	lil).
9.	TANGIBLE FIXEDASSETS	Freehold
		Property		ONce
		Church	Property	Furniture &
		Building	Improvements E	Equipment f	Total 8
	~Ct V I
	Balance at 1 October 2022	1,200,000	978,323	107,121	2,285,444
	Additions in the period
	Disposals in the period
	Balance at 30June 2023	1,200,000	978,323	107,121	2,285,444
	~rg)8()on
	Balance at 1 October 2022		972,486	100,635	1,073,121
	Charge for the period		4,376	2,855	7,231
	Eliminated on disposal
	Balance at 30June 2023		976,862	103,490	1,080,352
	Net BookValue at
	30June 2023	1,200,000	1,461	3,631	1,205,092
	Net Book Value at
	30September 2022	61,200,000	F5,837	F6,486	E1,212,323


INVESTMENT PROPERTIES		2023	2022
Market Value at 30June 2023 and 30September 2022		65,100,000	F5,100,000
a sis of inv P	rtles
6Wrights Lane		3,625,000	3,625,000
51 Iverna Gardens		100,000	100,000
156/156A Fulham Road		1,375,000	1,375,000
		55,100,000	65,100,000

Meadowcroft	Sur	veyors	L	LP. In the op	in	ion ofthe	Trustees, the current value is not materially	different.
11.DEBTORS							2023	2022
Prepayment and		accrued		Income			5,647	828,338
Other debtors							1,120
							F6,767	528,338
12.WAVERTON	INVESTMENT PORTFOLIO						Listed Investments
							2023	2022
								6
Market Value	at	1 October 2022					4,913,317	4,935,386
Charity Property		Fund	at	1 October 2022			152,'I33	128,410
							5,065,450	5,063,796
Additions at cost							980,478	1,598,134
Disposals at	market value						(942,445)	(1,293,608)
Unrealised gain/(loss)			on	marketable	securities		146,784	(302,872)
Market Value	at	30June		2023			55,250,267	55,065,450
The historical	cost ofthese investments					amounts	to 64,431,868(2022; F4,360,332).
Analysis of	investment			gains/(losses)			2023	2022
							6
Unrealised gains/(loss)			on revaluations				146,784	(302,872)
Realised gains/(losses)			on disposal				38,682	(35,022)
							6185,466	6(337,894)


CREDITORS: Amounts	falling due within one year	2023f	2022f
Accruals		23,380	20,570
Other creditors		6,995	6,348
		F30,375	f26,918


14.	UNRESTRICTED FUNDS								Fixed
					General	Youth	Building		Assets
					Reserves	Fund f	Fund f		Fund f	Total f
	Balance at 1 October 2022				2,453,341	16,747	2,703,640		6,312,323	11,486,051
	Surplus for the period				223,637					223,637
	Transfers between Funds				12,180	(4,949)			(7,231)
	Balance at 30June 2023				f2,689,158	f11,798	f2,703,640		f6,305,092	F11,709,688
									Fixed
					General	Youth	Building		Assets
					Reserves f	Fund f	Fund f		Fund f	Total f
	Balance at 1 October 2021				2,571,785	16,747	2,703,640		6,384,421	11,676,593
	Deficit for the Year				(190,542)					(190,542)
	Transfers between Funds				72,098				(72,098)
	3 I t306 pt 0	2022			52453341	576747	52703640		56312323	511466051
	The designated fixed asset		fund represents the net book value oftangible						fixed assets and	investment
	properties. The designated		youth fund represents			money due to be spent			on youth in the future. The
	designated building fund represents the funds arising from the sale ofthe								old Church premises, held for
	major repairs or improvement			works orthe acquisition ofnew buildings.				Transfers between		funds
	represent the movements	on fixed			assets.
15.	ANALYSIS OF NET ASSETS								Fixed
	BETWEEN FUNDS				General	Youth	Building		Assets
	2023				Reserves f	Fundf	Fundf		Fund F	Total
	Fixed Assets								6,305,092	6,305,092
	Marketable Securities				2,546,627	-	2,703,640			5,250,267
	Other Net Current Assets				142,531	11,798				154,329
	Balance at 30June 2023				f2,689,158	F11,798	f2,703,640		F6,305,092	F11,709,688

parative information for the analys	is ofnet assets	between f	unds in the pre	vious year is	as follows;
				Fixed
	General	Youth	Building	Assets
	Reserves	Fund	Fund	Fund	Total
2022				8
Fixed Assets				6,312,323	6,312,323
Marketable Securities	2,361,810		2,703,640	-	5,065,450
Other Net Current Assets	91,531	16,747			108,278
Balance at 30September 2022	62,453,341	616,747	62,703,640	86,312,323	F11,486,051