**REGISTERED CHARITY NUMBER: 253762**
**Report of the Trustees and**
**Unaudited Financial Statements for the Year Ended 31 December 2023**
**for St Mary's with St George's German Lutheran Church**
Peter Upton Bridge House 2 Bridge Avenue Maidenhead Berkshire SL6 1RR
**St Mary's with St George's German Lutheran Church**
## **Contents of the Financial Statements for the Year Ended 31 December 2023**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|5|
|**Independent Examiner's Report**||6||
|**Statement of Financial Activities**||7||
|**Balance Sheet**||8||
|**Notes to the Financial Statements**|9|to|16|
|**Detailed Statement of Financial Activities**|17|to|18|
**St Mary's with St George's German Lutheran Church**
## **Report of the Trustees**
## **for the Year Ended 31 December 2023**
The trustees present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
Being a church, its objectives are the normal ones of a church, including but not solely those of worshipping God, preaching the good news of his love in Jesus Christ, celebrating and administering the sacraments, spiritual care for people, and supporting the work of the wider Church, of Christian mission and of the relief of suffering. For St. Mary's with St. George's this includes a particular concern for people who need or wish to worship in the German language, and for the Evangelical Lutheran Church's understanding of the Christian faith.
## **Foundation, Merger and Governing Document**
1. St. Mary's was founded in 1694 in the Savoy Palace. After many vicissitudes (including destruction of its church and school buildings by bombing in 1941) it completed in 1978, in co-operation with the Lutheran Council of Great Britain as lessee, a joint building which housed the latter's International Lutheran Student Centre (until 2021) as well as St. Mary's fifth church premises.
2. St. George's German Lutheran Church was founded in 1762 and its church building, completed in 1763, still stands in Alie Street, Whitechapel, London E1. When the congregation became too small to bear the cost of maintaining the building, it decided to join up with St. Mary's, the two having shared the same pastor since 1986, and to hand over its church building to the Historic Chapels Trust. The services have been celebrated jointly in St. Mary's Church since Advent 1996, and the merger was completed with the adoption of the joint constitution on 28 March 1999.
3. The governing document of St. Mary's with St. George's is the Constitution (Kirchenordnung). It provides inter alia that preaching and teaching in the congregation is to conform to the Confessional Writings of the Evangelical Lutheran Church and that St. Mary's with St. George's is a member of the Synod of German-Speaking Lutheran, Reformed and United Congregations in Great Britain ("the Synod").
## **Associated Charities**
The charities associated with this Church and administered as part of its work are:
(1) The Benevolent Fund in connection with St.Mary's with St. George's German Lutheran Church, registered number 253765.
(2) The Charity of John Christian Schreiber for Widows of Ministers, registered number 253763.
## **Services, Membership and Attendance**
**Membership:** At 31.12.23 the congregation had 78 registered members.
Services statistics for the last five years are:
||2023|2022|2021|2020|2019|
|---|---|---|---|---|---|
|Number of services:|32|34|40|49|44|
|Average attendance:|27|31|46|37|26|
There was 1 christening during 2023, no confirmations, weddings and two funerals. 1 new person joined the community. In addition to the above, the congregation took part in joint services of the London German Churches on the first Sunday of the month, usually held at Christ Church in Knightsbridge or also on Zoom.
Page 1
**St Mary's with St George's German Lutheran Church**
## **Report of the Trustees**
## **for the Year Ended 31 December 2023**
## **ACHIEVEMENT AND PERFORMANCE Charitable activities**
## **Special Activities**
The whole structure of our congregational work changed during the pandemic and also because we no longer have two pastors since August 2022.
We have now moved to the following scheme: Every first Wednesday of a month: 9.15 am Bible reflection (average attendance: 15) Every fourth Thursday of a month: 6.00 pm Evening-Prayer
Confirmation Classes: Together with the neighbouring Parishes of the German Congregations in East-England.
We continue to work together with the student chaplaincy from the Lutheran Council and the German Church, Rebekka Daniel. Several events were organised and held together, e.g. on Reformation Day, World Prayer Day, Maundy Thursday and Harvest Day.
The 70th Synod Assembly took place on 28-30 April 2023 In Swanwick. The Synod service was held on site and on Zoom on Sunday 30th April.
## **Other Activities during the Year**
St. Mary's with St. George's shares the Pastor with the German Lutheran Congregation of St. Albans/Luton and the German Church Sydenham (Dietrich Bonhoeffer Church).
The German pastors are seconded from the regional churches (Landeskirchen) in Germany via their federation, the Evangelische Kirche in Deutschland (EKD). Their stipends are paid by the Synod. Revd. Silke Halfmann started as Pastor on 1st of August 2022.
We are fortunate to employ Edith Rosenthal on an hourly basis with up to 5 hours per week to help us as a financial administrator. She also continues to serve as a General Admin. She works remotely and deals with questions around the "Senfkorn", advertising our programme and coordinating our work. She also took over organising the growing number of groups and people who are using the newly renovated rooms. We continue to rely on the help of Mauricio Uosta, who lives nearby, as a caretaker. Since more groups are now meeting at St. Mary's we had to raise his hours to up to 8 hours a week.
The Congregational Meeting took place twice in 2023 (11th June and 19th November). The Meeting in June mainly dealt with finances, the 2022 accounts and the 2023 budget and to report about the work. The meeting in November was about the Election of the new board.
The Church Council met 4 times (mainly on Zoom) and there were several meetings of a joint Subcommittee (comprising members of the three congregations) to organize the work that affects all 3 congregations together.
Some of the primary items on the agenda of the Church Council was finding new Board Members, hosting a Spanish-Speaking Congregation on a regular basis, purchasing a new Organ in the autumn of 2023 and welcoming new Members and Voluntary Preachers to the Community.
Furthermore, we are actively engaged in the development of the "Lutheran Hub" that attracts more and more groups to use our rooms and were delighted to serve as the host venue for numerous events organized by the CLC (Christian Lutheran Community).
The Health and Safety policy developed with the help of David Rogers is in place and has been reviewed along with our other policies.
Page 2
**St Mary's with St George's German Lutheran Church**
## **Report of the Trustees**
## **for the Year Ended 31 December 2023**
## **ACHIEVEMENT AND PERFORMANCE**
## **Investment performance**
Financial activity has remained at a level consistent with previous years. Income from investments representing unrestricted reserves will continue to be used to finance the day-to-day running of the church.
Funds are invested in medium risk COIF Charity Funds, which are exclusively available to charities and are designed to meet the specific investment needs of charities. 80% (2021 - 76%) of the value of investments is held in the COIF Investment Income Fund; 3% (2021- 4%) in the COIF Charities Fixed Interest Fund; 17% (2021 - 21%) in the COIF Charities Investment Accumulation Fund; and 1% (2020 - 1%) is invested with National Savings.
The value of a unit in the COIF Charities Investment Income Fund fell by 11.63% (2021- Rise of 14.42%) , the value of a unit in the COIF Charities Fixed Interest Fund fell by 12.64% (2021 - Rise of 6.5%) and the value of a unit in the COIF Charities Investment Accumulation Fund fell by 9% (2021 - Rose by 17.4%).
The COIF Charities Deposit Fund paid an average interest rate over the year of 0.13%, which reflects the current period of low interest rates. Cash balances held in COIF Reserve accounts have decreased during the year and are at £310,411 (2021 at £1,090,411).
The income from investments remains in line with low interest rates. The Church Council sees the investments and long term assets and fully appreciate that values may fall and rise again in the future. There are no immediate plans to withdraw from COIF Funds as these are still considered to be suitable long-term low risk investments and the charity is reliant on the income from these investments to carry out its activities.
The reserves are mainly represented by endowment funds, resulting not only from the large legacy in 2002 but also from the declaration by the Congregational Meeting at its session of 25 March 2001 pursuant to section 19 of the Church Order deeming certain assets to be church capital. Unrestricted funds available for general use by the church include interest earned on the legacy from Dr Walter Sonnenberg-Norten since 1991.
## **Internal and external factors**
The fluctuating exchange rate is expected to effect the financial position of the charity as although most of its transactions are in Sterling the Pastor's salary is set in Euros so the annual contribution payable to the Synod is expected to increase in future.
## **FINANCIAL REVIEW**
## **Principal funding sources**
The most significant financial transaction occurring for many years was the receipt in 2002 of a legacy amounting to around £850,000 (including interest but before tax reclaim). The receipt of such a significant sum of money increased reserves, and provides a substantial annual revenue stream from investments and deposits.
The ongoing activities of the church are funded mainly from income from its investments.
## **Investment policy and objectives**
The Church Council only considers what it perceives to be low risk investments which provide constant income streams. These are usually COIF Charities Funds providing both dividend and interest income, but may include cash deposits and National Savings Bonds. The reserves policy is regularly reviewed since there are significant cash balances being held in bank deposit accounts.
## **Investment Powers**
Investment and withdrawal of funds of the Church and of the associated charities shall be decided by the Church Council as a whole with the concurrence of the majority of Trustees.
There are no specific restrictions on the way the charity can operate.
## **Reserves policy**
The Church Council maintains capital and endowment reserves in accordance with the restrictions placed upon them. Income reserves are maintained at levels which are considered to be necessary to cover future expenditure in the furtherance of the charity's objects.
Page 3
**St Mary's with St George's German Lutheran Church**
## **Report of the Trustees**
## **for the Year Ended 31 December 2023**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The governing bodies of St. Mary's with St. George's are the Congregational Meeting and the Church Council which is the executive body.
Its members are the (Managing) Trustees of the Church and of all its property; they elect the holders of the offices mentioned below (other than the Pastor), including three Custodian Trustees.
The land and buildings of the Church are, however, vested in the Official Custodian for Charities.
## **Members of the Church Council**
The members of the Church Council, serving from commencement of the financial year until november 19th 2023 have been:
1. The Rev. Silke Halfmann
2. Mrs. Bärbel Grange
3. Dr Matthias Klammer , honorable treasurer since May 2016
4. Dr Martin Liebscher, Minutes secretary
5. Dr. Gudrun Stenbeck,
6. Mr George Little
The Congregational Meeting on 19th November 2023 elected new Trustees for a 3 year term. Therefore the members of the Church Council since November 19th have been:
1. The Rev. Silke Halfmann
2. Mrs. Frauke Constable
3. Mr Uli Koall
4. Dr Martin Liebscher, Minutes secretary
5. Dr. Gudrun Stenbeck,
6. Dr Matthias Klammer , honorary treasurer since May 2016
The Trustees of the two Linked Charities were the same as above.
The Congregation is affiliated to the Synod of German Speaking Lutheran, Reformed and United Congregations in Great Britain (the Synod) and to the Lutheran Council of Great Britain (CLC).
Rev. Silke Halfmann represented the congregation at the Synod and at the CLC.
Among the functions of the Congregational Meeting are the election of the Pastor, the Church Councillors, the appointment of the auditors, the approval of the annual financial statements / Management Accounts and adoption of the budget.
Among the functions of the Church Council are the adoption of the orders of divine service (with the concurrence of the Congregational Meeting) and decisions on special offerings (such as those for causes outside the congregation).
The Church Council is also responsible for the administration of the church finances, investment decisions (in concurrence with the majority of the custodian trustees), the keeping of financial records, and the preparation of the budget.
The church does not remunerate any member of the Church Council for their services and is therefore dependent on the services of unpaid volunteers who freely donate their time to the church.
Grants are given to individuals from the charities now merged in the Benevolent Fund (see V. above) on the grounds of financial need. Usually there is a (budgeted) transfer from the general funds of the Church to the Benevolent Fund to supplement the latter's dividend income.
## **Activities during the year**
St. Mary's with St. George's shares the Pastor with the German Lutheran Congregation of St. Albans/Luton and the German Church Sydenham (Dietrich Bonhoeffer Church).
The German pastors are seconded from the regional churches (Landeskirchen) in Germany via their federation, the Evangelische Kirche in Deutschland (EKD). Their stipends are paid by the Synod. At present there are two Pastors serving in London and the Southeast:
Page 4
**St Mary's with St George's German Lutheran Church**
## **Report of the Trustees**
## **for the Year Ended 31 December 2023**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Public benefit**
The Trustees are aware of the Charity Commission's guidance on public benefit in the Advancement of Religion for the Public Benefit and have considered the Public Benefit requirement and believe that the Charity's current activities are in line with the Charity Commission guidelines.
The trustees believe that promoting the work of the wider Christian Church within the Parish provides a public benefit through: - Providing facilities for public worship, pastoral care and spiritual, moral and intellectual development for its members and the wider community without exception. - Promoting Christian values and service by members of the Church in and to their communities, to the benefit of individuals and society as a whole.
- Providing assistance, in the forms of special offerings for causes outside the congregation locally, nationally and internationally.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
253762
## **Principal address**
10 Sandwich Street London WC1H 9PL
## **Trustees**
Mrs Bärbel Grange (resigned 19.11.23)
Mr Matthias Klammer
Mr Martin Liebscher Dr Gudrun Stenbeck Mr George Little (resigned 19.11.23) Reverend Silke Halfmann Mr Uli Koall Treasurer (appointed 19.11.23) Ms Frauke Constable (appointed 19.11.23)
## **Independent Examiner**
Peter Upton Peter Upton Bridge House 2 Bridge Avenue Maidenhead Berkshire SL6 1RR
## **Solicitors**
The charity's solicitors are RadcliffesLeBrasseur of 85 Fleet Street, london, EC4Y 1AE
## **Bankers**
The charity banks with Barclays Bank PLC, Temple Fortune Branch, Edgware Group, 126 Station Road, Edgware, Middlesex, HA8 7RY
## **Enquiries**
Ms Edith Rosenthal, St Mary's with St George's German Lutheran Church, 10 Sandwich Street, London WC1H 9PL,
## **Parsonage**
The Parsonage address is 22 Downside Crescent, London, NW3 2AR.(Telephone:020-7794-4173)
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
................................................................................ Reverend Silke Halfmann - Trustee
Page 5
**Independent Examiner's Report to the Trustees of St Mary's with St George's German Lutheran Church**
## **Independent examiner's report to the trustees of St Mary's with St George's German Lutheran Church**
I report to the charity trustees on my examination of the accounts of St Mary's with St George's German Lutheran Church (the Trust) for the year ended 31 December 2023.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Peter Upton
Peter Upton Bridge House 2 Bridge Avenue Maidenhead Berkshire SL6 1RR Date: .............................................
Page 6
**St Mary's with St George's German Lutheran Church**
## **Statement of Financial Activities**
## **for the Year Ended 31 December 2023**
|Notes
**INCOME AND ENDOWMENTS**
**FROM**
Donations and legacies
2
Other trading activities
3
Investment income
4
**Total**
**EXPENDITURE ON**
**Charitable activities**
5
Staffing
Church premises
House
Church work
Other
**Total**
Net gains/(losses) on investments
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED**
**FORWARD**|Unrestricted
funds
£
6,539
62
127,204
133,805
33,708
18,297
10,423
23,412
6,883
92,723
260,795
301,877
3,216,629
3,518,506|Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
85
85
13,404
13,489|Endowment
funds
£
-
-
-
-
-
-
-
-
-
-
156,655
156,655
3,094,380
3,251,035|31.12.23
Total
funds
£
6,539
62
127,204
133,805
33,708
18,297
10,423
23,412
6,883
92,723
417,535
458,617
6,324,413
6,783,030|31.12.22
Total
funds
£
36,087
852
105,029
141,968
39,921
497
22,031
20,448
4,219
87,116
(466,594)
(411,742)
6,736,155
6,324,413|
|---|---|---|---|---|---|
The notes form part of these financial statements
Page 7
**St Mary's with St George's German Lutheran Church**
## **Balance Sheet**
## **31 December 2023**
|Unrestricted
funds
Notes
£
**FIXED ASSETS**
Tangible assets
10
68,252
Investments
11
3,015,555
3,083,807
**CURRENT ASSETS**
Debtors
12
18,605
Cash at bank
419,906
438,511
**CREDITORS**
Amounts falling due within one year
13
(3,812)
**NET CURRENT ASSETS**
434,699
**TOTAL ASSETS LESS**
**CURRENT LIABILITIES**
3,518,506
**NET ASSETS**
3,518,506
**FUNDS**
14
Unrestricted funds
Restricted funds
Endowment funds
**TOTAL FUNDS**|Restricted
funds
£
-
13,489
13,489
-
-
-
-
-
13,489
13,489|Endowment
funds
£
1,555,193
1,695,842
3,251,035
-
-
-
-
-
3,251,035
3,251,035|31.12.23
Total
funds
£
1,623,445
4,724,886
6,348,331
18,605
419,906
438,511
(3,812)
434,699
6,783,030
6,783,030
3,518,506
13,489
3,251,035
6,783,030|31.12.22
Total
funds
£
1,624,239
4,307,349
5,931,588
45,937
349,288
395,225
(2,400)
392,825
6,324,413
6,324,413
3,216,629
13,404
3,094,380
6,324,413|
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Mr Matthias Klammer - Trustee
The notes form part of these financial statements
Page 8
**St Mary's with St George's German Lutheran Church**
**Notes to the Financial Statements**
**for the Year Ended 31 December 2023**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
## **Financial reporting standard 102 - reduced disclosure exemptions**
The charity has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
## **Tangible fixed assets**
Tangible fixed assets are capitalised at cost. Revaluation surpluses are taken to reserves. Depreciation, where provided, is calculated to write off tangible fixed assets on an appropriate basis over their estimated useful lives as follows:
Freehold property is stated at cost. No depreciation is provided on the land element as it is deemed to have an infinite useful life. Depreciation is not provided on buildings on the basis that net realisable value exceeds the carrying amount in the accounts.
Equipment includes church plate, church organs, and other fixtures and fittings owned by the church and is stated at cost less depreciation. Depreciation is provided on a straight line basis on cost less residual value at the following rates:
|Church Plate|- 20% per annum|
|---|---|
|Other Fixtures and Equipment|- 20% per annum|
|Hymn Books, Service Orders, etc|- 20% per annum|
|Computer Equipment|-25% per annum|
Motor vehicles are stated at the church's share of cost less depreciation, which is provided at 20% per annum on a reducing balance basis.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Foreign currencies**
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
continued...
Page 9
**St Mary's with St George's German Lutheran Church**
**Notes to the Financial Statements - continued for the Year Ended 31 December 2023**
## **1. ACCOUNTING POLICIES - continued**
## **Financial instruments**
The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments, which are initially recognised at transaction value and subsequently measured at their settlement value.
## **2. DONATIONS AND LEGACIES**
## **3.**
## **4.**
|**DONATIONS AND LEGACIES**|||
|---|---|---|
||31.12.23|31.12.22|
||£|£|
|Donations|6,539|23,609|
|Funds towards Pastor House|-|12,478|
||6,539|36,087|
|**OTHER TRADING ACTIVITIES**|||
||31.12.23|31.12.22|
||£|£|
|Other events|62|852|
|**INVESTMENT INCOME**|||
||31.12.23|31.12.22|
||£|£|
|Rents receivable|7,722|3,934|
|Dividends|106,114|96,190|
|Deposit account interest|13,368|4,905|
||127,204|105,029|
## **5. CHARITABLE ACTIVITIES COSTS**
|Staffing
Church premises
House
Church work
**6.**
**GRANTS PAYABLE**
Staffing
Church work|Grant
funding of
activities
Support
Direct
(see note
costs (see
Costs
6)
note 7)
Totals
£
£
£
£
4,708
29,000
-
33,708
2,697
-
15,600
18,297
-
-
10,423
10,423
20,770
2,612
30
23,412
28,175
31,612
26,053
85,840
31.12.23
31.12.22
£
£
29,000
28,750
2,612
4,785
31,612
33,535|Totals
£
33,708
18,297
10,423
23,412|
|---|---|---|
|||85,840|
|||33,535|
continued...
Page 10
**St Mary's with St George's German Lutheran Church**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2023**
## **7. SUPPORT COSTS**
|Governance
Management
costs
£
£
Other resources expended
-
6,883
Church premises
15,600
-
House
10,423
-
Church work
30
-
26,053
6,883|Totals
£
6,883
15,600
10,423
30|
|---|---|
||32,936|
## **8. TRUSTEES' REMUNERATION AND BENEFITS**
No remuneration was received during the year by the Trustees, apart from the Pastor, who is paid by the Synod.Total Contributions to the Synod towards key management remuneration during the year totalled £10,000 (2022: £26,000)
## **Trustees' expenses**
During the year £1,412.23 (2022: £214.85) was reimbursed to the trustees for expenses incurred on behalf of the charity.
## **9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Other trading activities
Investment income
**Total**
**EXPENDITURE ON**
**Charitable activities**
Staffing
Church premises
House
Church work
Other
**Total**
Net gains/(losses) on investments
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
funds
£
36,087
852
105,029
141,968
39,921
497
22,031
20,448
4,219
87,116
(237,034)
(182,182)
3,398,811
3,216,629|Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
(119)
(119)
13,523
13,404|Endowment
funds
£
-
-
-
-
-
-
-
-
-
-
(229,441)
(229,441)
3,323,821
3,094,380|Total
funds
£
36,087
852
105,029
141,968
39,921
497
22,031
20,448
4,219
87,116
(466,594)
(411,742)
6,736,155
6,324,413|
|---|---|---|---|---|
continued...
Page 11
**St Mary's with St George's German Lutheran Church**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2023**
## **10. TANGIBLE FIXED ASSETS**
|**COST**
At 1 January 2023 and
31 December 2023
**DEPRECIATION**
At 1 January 2023
Charge for year
At 31 December 2023
**NET BOOK VALUE**
At 31 December 2023
At 31 December 2022|Freehold
property
£
1,555,193
-
-
-
1,555,193
1,555,193|Fixtures
and
fittings
£
113,889
45,657
215
45,872
68,017
68,232|Motor
vehicles
£
5,750
5,750
-
5,750
-
-|Computer
equipment
£
6,230
5,416
579
5,995
235
814|Totals
£
1,681,062|
|---|---|---|---|---|---|
||||||56,823
794|
||||||57,617|
||||||1,623,445|
||||||1,624,239|
All assets owned by the church are held for charitable use in the furtherance of the church's objectives.
Freehold Property comprises the church premises of St Mary's and the Parish House. The church premises of St George's is owned by the Historic Chapels Trust and does not form part of the church's assets. The land element included in Freehold Property cannot be reliably estimated and a valuation of the total market value of freehold land and buildings owned by the church is deemed unrealistic as the church property is regarded as unmarketable due to the very long renewable lease held by the Lutheran Council.
Fixtures and Equipment include church plate stated at cost or valuation totalling £67,125, which is based on a professional valuation in 2000 as most items are hundreds of years old and the actual cost of these items is unknown. No depreciation is provided on church plate due to the high residual value of these items. Candle holders and an altar cross which the St George's congregation brought to St Mary's when joining are now being kept at the newly refurbished St George's premises, but they remain the property of St Mary's and are insured by the Historic Chapels Trust.
## **11. FIXED ASSET INVESTMENTS**
|**MARKET VALUE**
At 1 January 2023
Revaluations
At 31 December 2023
**NET BOOK VALUE**
At 31 December 2023
At 31 December 2022
There were no investment assets outside the UK.
Cost or valuation at 31 December 2023 is represented by:
Valuation in 2021
Valuation in 2022
Valuation in 2023|Listed
investments
£
4,278,349
417,537
4,695,886
4,695,886
4,278,349
Listed
investments
£
4,044,941
233,408
417,537
4,695,886|Unlisted
investments
£
29,000
-
29,000
29,000
29,000
Unlisted
investments
£
29,000
-
-
29,000|Totals
£
4,307,349
417,537|
|---|---|---|---|
||||4,724,886|
||||4,724,886|
||||4,307,349|
||||Totals
£
4,073,941
233,408
417,537|
||||4,724,886|
continued...
Page 12
**St Mary's with St George's German Lutheran Church**
**Notes to the Financial Statements - continued**
## **for the Year Ended 31 December 2023**
## **12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Other debtors
Prepayments
**13.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other creditors
**14.**
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General reserve
Fixed asset reserve
Repairs reserve
Commitments reserve
**Restricted funds**
The Benevolent Fund
Outside causes
**Endowment funds**
Church endowments
Church s19
Church St George's s19
The Benevolent Fund
Schreiber for Widows Fund
**TOTAL FUNDS**|At 1.1.23
£
1,592,666
853,545
713,503
56,915
3,216,629
8,518
4,886
13,404
1,505,678
1,277,185
238,576
23,430
49,511
3,094,380
6,324,413|31.12.23
£
12,383
6,222
18,605
31.12.23
£
3,812
Net
movement
in funds
£
159,050
(16)
142,843
-
301,877
85
-
85
23,755
117,808
8,277
2,189
4,626
156,655
458,617|31.12.22
£
45,937
-
45,937
31.12.22
£
2,400
At
31.12.23
£
1,751,716
853,529
856,346
56,915|
|---|---|---|---|
||||3,518,506
8,603
4,886|
||||13,489
1,529,433
1,394,993
246,853
25,619
54,137|
||||3,251,035|
||||6,783,030|
continued...
Page 13
**St Mary's with St George's German Lutheran Church**
**Notes to the Financial Statements - continued for the Year Ended 31 December 2023**
## **14. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General reserve
Fixed asset reserve
Repairs reserve
**Restricted funds**
The Benevolent Fund
**Endowment funds**
Church endowments
Church s19
Church St George's s19
The Benevolent Fund
Schreiber for Widows Fund
**TOTAL FUNDS**|Incoming
resources
£
133,805
-
-
133,805
-
-
-
-
-
-
-
133,805|Resources
expended
£
(92,707)
(16)
-
(92,723)
-
-
-
-
-
-
-
(92,723)|Gains and
Movement
losses
in funds
£
£
117,952
159,050
-
(16)
142,843
142,843
260,795
301,877
85
85
23,755
23,755
117,808
117,808
8,277
8,277
2,189
2,189
4,626
4,626
156,655
156,655
417,535
458,617|Gains and
Movement
losses
in funds
£
£
117,952
159,050
-
(16)
142,843
142,843
260,795
301,877
85
85
23,755
23,755
117,808
117,808
8,277
8,277
2,189
2,189
4,626
4,626
156,655
156,655
417,535
458,617|
|---|---|---|---|---|
|||||301,877
85
23,755
117,808
8,277
2,189
4,626|
|||||156,655|
|||||458,617|
## **Comparatives for movement in funds**
|**Unrestricted funds**
General reserve
Fixed asset reserve
Repairs reserve
Commitments reserve
**Restricted funds**
The Benevolent Fund
Outside causes
**Endowment funds**
Church endowments
Church s19
Church St George's s19
The Benevolent Fund
Schreiber for Widows Fund
**TOTAL FUNDS**|At 1.1.22
£
1,675,132
853,545
813,219
56,915
3,398,811
8,637
4,886
13,523
1,539,124
1,443,059
259,102
26,512
56,024
3,323,821
6,736,155|Net
movement
in funds
£
(82,466)
-
(99,716)
-
(182,182)
(119)
-
(119)
(33,446)
(165,874)
(20,526)
(3,082)
(6,513)
(229,441)
(411,742)|At
31.12.22
£
1,592,666
853,545
713,503
56,915|
|---|---|---|---|
||||3,216,629
8,518
4,886|
||||13,404
1,505,678
1,277,185
238,576
23,430
49,511|
||||3,094,380|
||||6,324,413|
continued...
Page 14
**St Mary's with St George's German Lutheran Church**
**Notes to the Financial Statements - continued**
## **for the Year Ended 31 December 2023**
## **14. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General reserve
Repairs reserve
**Restricted funds**
The Benevolent Fund
**Endowment funds**
Church endowments
Church s19
Church St George's s19
The Benevolent Fund
Schreiber for Widows Fund
**TOTAL FUNDS**|Incoming
resources
£
141,968
-
141,968
-
-
-
-
-
-
-
141,968|Resources
expended
£
(87,116)
-
(87,116)
-
-
-
-
-
-
-
(87,116)|Gains and
Movement
losses
in funds
£
£
(137,318)
(82,466)
(99,716)
(99,716)
(237,034)
(182,182)
(119)
(119)
(33,446)
(33,446)
(165,874)
(165,874)
(20,526)
(20,526)
(3,082)
(3,082)
(6,513)
(6,513)
(229,441)
(229,441)
(466,594)
(411,742)|
|---|---|---|---|
## **Capital and Endowment Funds**
Church Endowments Church s19 Capital Church s19 St George's The Benevolent Fund Schreiber for Widows Fund
Capital funds generate income to be used for the work of the church in achieving the objectives of the charity. These capital amounts are restricted and cannot be used for current expenditure. The Church s19 Capital fund was created under the Church Order to protect the capital and help ensure adequate income would be created for the future to fulfil the church's obligations, and likewise the Church s19 St George's fund was created to protect the capital received on the merger with St Mary's. This group of funds also includes the two specific funds from the linked charities.
## **Restricted Income Funds**
The Benevolent Income Outside Causes Fund
Restricted income funds relate to income which can only be used for specific purposes. The Benevolent Income Fund combines the income from the corresponding capital fund with additional funds, to be used for grants to persons in need. The Outside Causes Fund was created by the Congregational Meeting to enable the church to make gifts to causes in addition to those on the church's monthly list.
## **General Unrestricted Funds**
General reserve
General unrestricted reserve is a residual reserve for use in the furtherance of the charity's objectives without any specific restriction. This currently includes a notional separate reserve for the income accumulated on the capital legacy from Dr WS Norten while the church seeks advice on permitted uses of these funds.
## **Designated Asset Funds**
Fixed asset reserve
Designated asset reserves mostly represent funds accumulated for replacing assets at the end of their life at the prices then expected to prevail. This expenditure does not occur annually and is expected to be significant so reserves are grown to ensure adequate funds will be available when required.
Page 15
continued...
**St Mary's with St George's German Lutheran Church**
**Notes to the Financial Statements - continued for the Year Ended 31 December 2023**
## **14. MOVEMENT IN FUNDS - continued**
## **Other Designated Funds**
Repairs reserve Commitments reserve
Other designated reserves are created for significant non-capital expenditure expected in future years. As with the reserves for capital items, these are grown annually to ensure adequate funds will be available when required.
## **15. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 December 2023 or 2022.
Page 16
**St Mary's with St George's German Lutheran Church**
## **Detailed Statement of Financial Activities for the Year Ended 31 December 2023**
|**Detailed Statement of Financial Activities**
**for the Year Ended 31 December 2023**|||
|---|---|---|
||31.12.23|31.12.22|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Donations|6,539|23,609|
|Funds towards Pastor House|-|12,478|
||6,539|36,087|
|**Other trading activities**|||
|Other events|62|852|
|**Investment income**|||
|Rents receivable|7,722|3,934|
|Dividends|106,114|96,190|
|Deposit account interest|13,368|4,905|
||127,204|105,029|
|**Total incoming resources**|133,805|141,968|
|**EXPENDITURE**|||
|**Charitable activities**|||
|Insurance|2,697|200|
|Church repairs|-|297|
|Motor expenses|4,076|3,403|
|Travel|346|645|
|postage & stationery|13|420|
|Telephone|328|350|
|Computer|1,114|864|
|Pastor's Assistant|4,708|11,171|
|Subscriptions|(83)|41|
|Community work|5,691|1,543|
|Cost of services|7,269|6,120|
|Public relations|1,011|1,225|
|Children/confirmations|211|17|
|Plant and machinery|794|1,035|
|Synod contributions|29,000|28,750|
|To individuals & charities|2,612|4,785|
||59,787|60,866|
|**Support costs**|||
|**Management**|||
|Rates and water|1,605|1,129|
|Insurance|2,235|4,385|
|Light and heat|-|120|
|Office costs|30|94|
|Repairs and maintenance|22,183|16,303|
||26,053|22,031|
|**Governance costs**|||
|Independent examiner's fees|2,400|2,400|
|Carried forward|2,400|2,400|
This page does not form part of the statutory financial statements
Page 17
**St Mary's with St George's German Lutheran Church**
## **Detailed Statement of Financial Activities for the Year Ended 31 December 2023**
|**Detailed Statement of Financial Activities**
**for the Year Ended 31 December 2023**|||
|---|---|---|
||31.12.23|31.12.22|
||£|£|
|**Governance costs**|||
|Brought forward|2,400|2,400|
|Legal fees|3,300|-|
|Exchange rate differences|97|-|
|Bookkeeping fees|1,086|1,819|
||6,883|4,219|
|Total resources expended|92,723|87,116|
|**Net income**|41,082|54,852|
This page does not form part of the statutory financial statements
Page 18