annual report 2013 - St Mary-le-Bow

Transcription

St Mary-le-Bow Annual Report 2013
Church
ANNUAL
REPORT
2013
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cover photo: © Ian Livingston
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PAROCHIAL CHURCH COUNCIL OF
ST MARY LE BOW
Registered Charity No. 1130098
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 December 2013
St Mary le Bow
Annual Report and Financial Statements
For the year ended 31 December 2013
Contents
Pages
Reference and Administrative Information
Annual Report
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3 - 28
Parochial Church Council Responsibilities
29
Independent Examiner's Report
30
Statement of Financial Activities
31
Balance Sheet
32
Notes forming part of the Financial Statements
33-38
Page: 1
St Mary le Bow
Reference and Administrative Information
Charity Number
1130098
Membership of the PCC
Rector & Chair:
Churchwardens:
Representative to the City Deanery Synod:
Elected Members:
Parish Officers
Electoral Roll Officer, Hon Secretary to the
PCC & Pastoral Assistant:
Verger & Administrator:
The Reverend George Bush (ex officio)
Antoine West (Clerk of Works)
Dan Hedley
Alan Hovell
Hannah Tillyer
Iain Blythe
Yohannah Blythe
Susannah Tilbury
Michael Wainwright
James Sanders (Hon Treasurer)
Michael Byrne (Elected May 2013)
William Dempster (Co-opted June 2013)
Matthew Power
Nick Cressey
Office Address
Cheapside
London EC2V 6AU
Independent Examiner
James Cross
Kingston Smith LLP
Devonshire House
60 Goswell Road
London EC1M 7AD
Bankers
HSBC
City of London Branch
60 Queen Victoria Street
London EC4N 4TR
Church Architect/Quinquennial Inspector
Robert Shaw
Robert Shaw Architects
32 Foster Road
Chiswick
London, W4 4NY
Solicitor
Aiden Hargreaves-Smith
Winckworth Sherwood
Minerva House
5 Montague Close
London SE1 9BB
Objects and public benefit
The purpose of the Church is promoting in the parish the whole mission of the Church. The
PCC members have taken full recognition of the requirements of section 17 of the 2011 Act
in regard to public benefit.
Governing document
The Church is governed by the Parochial Church Councils (Powers) Measure 1956 (as
amended) and the Church Representation Rules (contained in Schedule 3 to the Synodical
Government Measure 1969 as amended).
Page: 2
One of our number on the PCC enjoined me last year to greater brevity in this report (not itself a bad
discipline) and of course there is much detail elsewhere in these pages from officers, staff and volunteers. To begin at the end, December was a remarkable month, with more excellent Christmas liturgies offered to new groups and with larger congregations. This was a real endorsement of our thorough musical and textual approach and means that what we offer is neither dumbed down nor dull. It
is notable that through these services we raised more than £5,500 including Gift Aid (£3,200 in 2012)
for charities, of which nearly £4,300 was for the Young Homeless Project. This encouragement was in
perhaps slight contrast with the no less challenging conditions for mid-week attendances both at liturgy and events. But a good number of weddings has added to our wider congregational support; an autumn party for those married here in recent years has revealed, as on previous happy evenings, that
there is a warm hinterland of parish loyalty and from a wider range of ages and backgrounds.
Much of my year was punctuated with duties connected with being Chaplain to the Rt Hon. The Lord
Mayor, Alderman (now Sir) Roger Gifford. A good deal of this was ceremonial or indulgent – and itself a huge privilege. Memorable was having to lurch down Cheapside at speed for Lady Thatcher’s
funeral service at St Paul’s because insufficient cars at Mansion House meant the least important was
left to fend for himself! But the Lord Mayor was keen to have active chaplains and I collaborated with
my colleague, the Reverend Charles Pickstone, on a conference, not least for young people, on the authority of institutions.
Designer Pete Burns, one of the new easels displaying a Coptic icon, the Rector and carpenter Tim Hurst at the Furniture
Makers’ Christmas Carol Service, where the easels were blessed | photo Coleen Fraser | The Furniture Makers’ Company
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We have had to be very realistic about the prospects for Arcubus in recent months and the departure of
Rachel Lindley has concentrated the minds of the Trustees. Having raised and distributed £100,000
for loan funds and financial education in Tanzania and Mozambique, we have accepted that the Social
Investment Bond has not been the most effective tool for fundraising. Equally few City firms have the
leisure or the resources for our Experience programme. But we remain in existence and can be useful
as a device for the future. What is assuredly the case is that in making presentations locally we have
had enviable access and an opportunity to build the reputation of JustShare and St Mary-le-Bow.
Our companion parish of Trinity, New York announced that the Rector (and my very good friend) the
Reverend James Cooper would be retiring in 2015 and that his successor would be appointed at the
Feast of Trinity 2014. The parish has undertaken considerable heart searching and consultation in the
wake of this announcement and St Mary-le-Bow, which owes Dr Cooper a great debt of gratitude, will
follow the work of the Call Committee with great interest. It is to be hoped that we may have an equally warm and effective relationship with the new Rector.
Nearer to home we have begun to forge a link with the parish of St Mary, Bow – since we are both (to
different extents) Grocers’ parishes and are ever destined to be confused with each other. St Mary,
Bow is collaborating with others in the establishment of a Food Bank to combat serious food poverty
in that part of the East End. We hope to be useful as a channel of volunteers and of funds.
We continue to be much exercised about the implications of the scheme to refurbish both the Vestry
and the Lodging. The financing of these plans – for which we now have much more accurate figures –
The Rector (second from right) at the first dinner consultation of the Edmund Foundation, which he has been advising
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presents a number of challenges not least in terms of the long-term contribution which the parish is
likely to be able to make. Equally there are several unknowable factors; it is mooted that the parish
might at some stage in the future be merged with the small parish of St Vedast, Foster Lane which
supports both Sunday worship and a fine and commodious Rectory. If the Lodging might one day not
be needed for housing a priest, this raises interesting issues about the shape and scale of refurbishment. We are confident that in many respects the nettle will be grasped in 2014.
I have innumerable reasons to record thanks for so much that makes my ministry both fulfilling and
cheerful. We are blessed with two extremely able and committed Churchwardens who are using their
skills to animate and move forward aspects of our life. The staff in the office, together with Alan Wilson as Director of Music are loyal, discreet and courteous to all and ensure that the parish projects a
considerable beam across a range of fronts – liturgical, spiritual, musical, prophetic and pastoral. Andrew (and Gill) Goodhart with great conscientiousness continue to mastermind the collection of the
Voluntary Rate and to assist in the new regimes and administration surrounding Gift Aid – we are
vastly in their debt. But above all I am fortunate to be the pastor of a congregation which is thoughtful,
appreciative and cheerful. We enter the year which will mark the celebration of the 50th Anniversary of
the reconsecration with some considerable hopefulness and seemly confidence. GRB
As well as his parish ministry, the Rector serves as Bishop’s Surrogate for Common Licences, Honorary Assistant Priest of Our Most Holy Redeemer, Clerkenwell, and Chaplain to the Britain-Australia
Society and the City of London Club, as also the Arbitrators’, Firefighters’ and International Bankers’
Companies and as Master’s Chaplain of the Furniture Makers’ Company.
He is a member of the management committee of the Southwark and London Diocesan Housing Association, and a Trustee of the Street Level, Thomas Carpenter and Zulem Trusts. He has lately been
appointed as a Trustee of the charity, Community, Housing and Therapy. He serves as chair of the
Corporation of London Fairtrade Steering Group. He is Chair of the Trustees of the City of London
Social Investment Fund (Arcubus). He is a member of the Shrinking the Footprint Steering Group of
the Church of England. He is a Patron of the World Marmalade Festival.
He has been advising the Edmund Foundation and TrustFinance. In 2012–13 he was also one of two
Chaplains to the Right Honourable The Lord Mayor. The Rector’s Stipend in 2013 was £23,808. GRB
The staff team continues cheerful and effective. Alan Wilson enters his 28th year as Organist and Director of Music, with as much enthusiasm for liturgical music making and with a continued stream of
ideas, matched by consistent performance from himself and those he directs. His efforts are appreciated by congregation, livery companies and others. This very high standard and originality must never
be taken for granted. Nick Cressey holds briefs for preparing services (with the help of regular servers
Colin Fleming, Hannah Tillyer, Iain Blyth, James Sanders and Stefan Koschek), building maintenance and book keeping; but perhaps his least sung gift is his calm and unassuming approach to enquirers and visitors; he is now the first port of call for those who telephone. Nick also manages our
relationship with a large number of contractors and seeks to ensure value for money. Matthew Power
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manages the Parish and Rector’s diaries with some dexterity and cheerfulness, is responsible for all
aspects of publicity and promotion (lately advised and abetted by Hannah Tillyer and Chris Bailes),
and produces service Orders to a consistently high standard. This latter involves often protracted negotiation with wedding couples and livery and commercial companies. He also coordinates IT support,
now provided by the ever unflappable Rob Stead who, although self-employed, is a valued part of the
team. Blaga Serafimova keeps the church (and Lodging) clean and presentable.
The JustShare/Arcubus nexus saw the departure of Rachel Payling at the end of a year’s contract and
with much regret – she had been most effective in introducing us to the potential of new media and
worked with energy and skill. She was
replaced by Tricia Howey who has
quickly established herself as JustShare
Coordinator as collaborative, wise and
thorough; we are delighted to have her.
At the end of the year we said
‘goodbye’ to Rachel Lindley – although
as a close friend of parish and personalities alike we continue to be in touch
– who served over six years as successively JustShare Coordinator, then also
Arcubus coordinator as well and finally
just commanding Arcubus. Rachel has
done more than anyone to ensure the
survival of JustShare as a credible proponent of social justice from a Christian perspective and in the City; and
her work on Arcubus was symbolic of
her tenacity and ingenuity. In her time
£100,000 was raised for microfinance
and associated financial literacy training in Africa. We are delighted that the
interest in microfinance which she
learned with us at St Mary-le-Bow has
now become her full career specialism.
We thank her most warmly and wish
her well. As Rector I have great pleasure in thanking staff members and
volunteers alike for their hard work
The new handrails at the north-west porch, flanked by the refreshed
livery of the Café Below
and loyalty. GRB
The current members of the PCC are: Iain Blythe, Yohannah Walford Blythe, Michael Byrne, the Reverend George Bush (Chair), William Dempster (co-opted during the year), Daniel Hedley
(Churchwarden), Alan Hovell (Deanery Synod Representative), James Sanders (Treasurer), Susannah
Tilbury, Hannah Tillyer (Children’s Champion, Safeguarding Officer, Deanery Synod Representative),
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Two abseilers, contracted by the Corporation of London, adjust the spotlights that illuminate the clock faces
Michael Wainwright, Antoine West (Churchwarden, Clerk of Works). Nick Cressey (Verger & Administrator) and Matthew Power (Parish Secretary & Pastoral Assistant) also attend meetings. The PCC
normally meets on the third Thursday of alternate months to govern the business of the Parish.
The following business is worthy of note:

We took charge of a new Legilium designed by Luke Hughes and Company

Attractive brass-capped Handrails were installed at the north-west door, sponsored by Fidelity
Worldwide Investment, thus completing our access strategy and drawing attention to the need for
accessible WCs

The vacant Parish Clerkship of St John Friday Street was given to Steeple Keeper Simon Meyer

In March we enabled the newly
enthroned Archbishop of Canterbury to visit the Crypt Chapel as part of his Prayer Pilgrimage in
the City; the Café Below
provided breakfast

Icon Easels, a gift of the Furniture Makers’ Company, were blessed at that company’s Christmas
Carol Service, and will be shared with the Coptic congregation that worships here

The Hauptwerk project to make a digital sample of the organ went ahead and Charlotte West kindly
did much work to prepare the licence

Planned replacement of the electro-hammers that strike the bells automatically, with the aid of a
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grant of £10,000 from the Bernard Sunley Foundation

A new set of 10 postcards of the church were commissioned

Our Mission Action Plan was reviewed and is on schedule

Involvement established with the Bow Food Bank project, with St Mary, Bow

Audio recording facilities were enhanced by a new solid state digital device
Architect Robert Shaw indicates the brickwork hidden behind plaster in the Crypt stairwell, following initial excavation

On-going investigation into the future renovation of the Rector’s Lodging, Vestry and provision
of accessible WCs, included a quantity survey

Hannah Tillyer and the Rector attended Safeguarding training; Hannah was appointed Safeguarding Officer

An Assistant Steeple Keeper, Ben Meyer, has been appointed

The Crypt Ante-Chapel has been redecorated
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Highly successful Parish Suppers were held in the Café Below on Lanfranc Day and in December, and will likely be repeated
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Attractive brickwork thought to date from the 19th century has been uncovered in the Crypt
stairwell and advice will be sought from the Diocesan Advisory Committee for the Care of
Churches

Sound control in the belfry is to be redesigned

Volunteers helped as Sidespeople at the Costermongers’ Harvest Festival and also erected and
decorated the Christmas trees this year
The Electoral Roll was completely renewed in 2013 and numbers 63. MP
I am pleased to report that St Mary-le-Bow’s finances remain in a satisfactory state and that the endowment fund continues to assist in funding the salaries of our staff. However, we must not be complacent and the Rector, Treasurer, and PCC continue closely to monitor our ongoing expenditure to
ensure that we are covering our costs. Before gains/losses on revaluation and disposal of investment
assets we made a surplus of £23,730 which was extremely satisfactory. However, most of this was in
respect of restricted funds and on the general fund we effectively broke even (a deficit of £456).
The receipts from the voluntary rate totalled £51,000 and, in addition, we also received £38,000 of
licence fees from local businesses. As always we are extremely grateful to those businesses who continue to support the work of the Church in this way. However, I should note that some of the voluntary rate has now been paid as restricted income which can only be spent on fabric related matters.
This has a consequential impact on the General Fund.
Our expenditure was broadly in line with 2012 (excluding major repairs). Our contribution to the Central Fund increased from £59,000 to £61,000 which equates to the full cost of one stipendiary priest
in line with the Diocese’s guidelines that parishes should bear the cost of their incumbent and the
proportional share of Diocesan and other expenditure. We have paid the full cost for many years.
It has been considered that a reasonable amount to be held in free reserves is at least £59,000, which
equates approximately to three months of expenditure, and meets Charity Commission recommendations. Free reserves as defined by the Charity Commission amounted to £56,903 at the Balance Sheet
date. The PCC continues to make efforts to increase free reserves in line with the stated policy.
It has become increasingly obvious over recent years that the Rector’s Lodging will need significant
amounts of work in the near future to ensure that it is in an acceptable condition for the 21st century.
The PCC continue to investigate options concerning this.
We must thank the Worshipful Company of Grocers, one of our patrons, for their continued and continuing support of the Parish both financially and non-financially. The former includes their paying
for the insurance premium in respect of our silver which is kept securely for us at Grocers’ Hall. We
must also thank the City Churches Grants Committee for paying the insurance premium in respect of
this wonderful and historic building.
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One of the most significant parts of our income is the Voluntary Rate. In addition to our thanks to local businesses for paying this, we must record our especial thanks to Andrew Goodhart (a member of
the Worshipful Company of Grocers), assisted by his wife Gill, for the time and effort that he puts in
in converting the records held by the City of London Corporation into the requests for voluntary rate
payment. The smooth running of the levying of the Voluntary Rate is an essential part of our financial
stability and gives us continued confidence in our income streams.
As always, we must continue to pray for all the businesses within the Parish and the wider City, many
of whom contribute to the work of the Church (both St Mary-le-Bow and more widely) through their
payment of the voluntary rate and other generous donations. JS
This last year has largely been one of preparatory work on the next phases of building works improvements. We continue with our long considered plans for the modernisation of the space that is at once
vestry, parish office, green room and meeting room; enlarging the space considerably by introducing a
mezzanine, thereby providing reception and meeting areas below and staff office above. The adjoining
corridor and rooms are also to be upgraded to enable disabled access including lavatories.
We are also now in discussions with the City Churches Grants Committee about the prospect of their
providing us with long-term finance for a greatly enlarged scheme involving a complete renovation of
the Rector’s Lodging, which is now 50 years old and showing its age. The roof and windows have suffered considerable wear and the general aspect has long been in need of renewal. Our plan, subject to
the provision of financing, is for major works involving an overhaul of the top floor, expansion of the
kitchen, replacement of the windows and joinery, rewiring and general renovation, to bring all aspects
to a high-quality 21st-century finish, that will be of benefit to our Rector and for Rectors to come. We
see this project as a long-term investment in the future of St Mary-le-Bow. It is though wholly dependent on receiving the substantial capital commitment from the City Churches Grants Committee that
such a project requires.
We are seeking to combine this scheme with the works to the parish office, corridor and lavatories. We
would hope to commence these works before the end of 2014. We do not underestimate the amount of
disruption that will be involved, not least for the Rector in having to relocate to alternative accommodation, and the staff in having to work from elsewhere. We have not begun to search for alternative accommodation but may have to soon.
We continue with restoration and maintenance works around the church. One such area involves the
crypt stairwell leading to the entrance vestibule to the Café Below. For as many years as I and my fellow PCC members can remember, this area has been suffering from peeling plaster and flaking paint.
With approval of the Diocesan Advisory Committee Archdeacon, we removed the plaster in one area to
reveal some attractive brickwork, thought to date from the early 1800s. We do not know how far this
brickwork extends. We are interested in removing plaster to expose the brickwork in further sections
where the result is attractive. We do not presently have funds set aside for this and so may need to approach this work in stages.
Some eight years ago we undertook the restoration of the outer vestibule of the church on the west
door and the steps leading out to Cheapside, and it continues to look splendid. By contrast, we have
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not undertaken any decorative works to the
inner vestibule, which is certainly in need of
some coats of fresh paint, to bring it up to
standard and enhance the sense of sacred
space. We have decided as part of our forthcoming Jubilee celebrations
(commemorating the 50th year of the rebuilding of the church) to raise donations in
order for these works to proceed.
We have also agreed with the Café Below an
initiative to be carried out jointly for raising
funds in order to introduce beautiful uplighting into the undercroft area beneath the
church, to make the most of the wonderful
curves of the arches and recesses between
the arches, which will add magnificently to
the ambience. We are aware from trial
schemes that we have explored previously,
and subsequent advice, the huge difference
that such a scheme could make. Both the
Café and St Mary-le-Bow (as licensor) would
benefit. We are currently estimating a threeyear period for raising the necessary funds.
Handrails were installed at the north-west
porch, with funds from our neighbour Fidelity Worldwide Investment.
Our Alderman, Roger Gifford, served his term as Lord Mayor in
2012–13. He visited the tower and tried his hand at bell ringing,
under the guidance of Steeple Keeper Simon Meyer
With the various projects enumerated, we
are looking forward to a busy year ahead.
AW
2013 saw St Mary-le-Bow enable other organisations to raise funds, and make donations ourselves, to
the sum of £11,575 (the figure for 2012 was £9,296).
The PCC made a grant to JustShare of £3,000 and to the St Mary-le-Bow Young Homeless Project of
£1,000 and in addition the Project received donations of £5,486 from collections at services for various Livery Companies: Grocers; Furniture Makers; Arbitrators; Firefighters; as well as donations from
services for Fidelity Worldwide Investment; the London Stock Exchange Group; Benenden School;
Bates Wells Braithwaite, and the Parish Carol Service. (The Young Homeless Project received £4,809
in 2012.)
Arcubus received £914 from the collections taken at major Parish services: the Epiphany; the Annunciation; the Ascension Day; Corpus Christi; and a harvest festival service for the International Bankers’
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Company. This sum was used by Arcubus to support the work of JustShare. (St Mary-le-Bow invested
£5,000 in the Arcubus Bond.)
The Bishop of London’s Lent Appeal for the Amos Trust received £1,208 from our Lent services and
generous donations from members of our congregation (in 2012 our contribution was £1,453).
Service collections benefitted other charities also: the Britain-Australia Trust £360; the BritainAustralia Society £403; the London Stock Exchange Charity £111; Cancer Research UK £1,420 and the
StareheFuture Appeal £1,420. A popular concert for the Lord Mayor’s Appeal raised £230.
As always, small groups have used the church for fundraising activities, without charge – in May 2013
Christian Aid again began its charity walk, Circle the City, here, with registration and a short service,
raising over £30,000, while Afghan Action again held a carpet sale here following a debate. NC
As the Feast of the Epiphany fell on a Sunday we missed our usual musical flourish to set off the New
Year. In fact, as both the Admiral Phillip service and the Boyle Lecture were both transferred to March,
there was little festal liturgical music during January. This was soon rectified, as February 13th marked
the start of Lent with Ash Wednesday. This had a strong Tudor flavour with Byrd’s four-part Mass and
the Tallis Lamentations. As part of the Lent Cantata series this year, six sections of Buxtehude’s profound cycle Membra Jesu Nostri were adapted to a service of meditation and arranged totally for soprano and organ. The Admiral Phillip service took place on Monday 4th March with the usual Australian
niceties. Holy Week began on 25th March: alongside the usual pattern of Midday Office, Sung Passion
Sequence, Buxtehude Cantata and Maundy Thursday High Mass, a very special liturgical performance
of Bach’s St John Passion was presented by the choir and orchestra of Queen Mary College, University
of London on the Wednesday evening. This was a very moving occasion to me personally, as it was the
very last performance I undertook with QM before retiring from the university after 37 years of service.
2014 was a great year for weddings, and the first one (Dominic and Vicky Haddock) took place on Saturday 6th April – Vicky walking in to splendid Puccini. The Boyle lecture was on 8th April with the
usual organ fanfares. On the same day we celebrated our Feast of Title to rich Marian music. On the
Ascension Day (9th May) the ‘Coronation’ Mass of Mozart was performed, followed by the Furniture
Makers’ Installation Service on 13th May. Our founder Lanfranc (28th May) was honoured by Sung
Evening Prayer set to the modern Common Worship setting punctuated by contemporary liturgical
chant. Two days later we celebrated Corpus Christi with Eucharistic-themed motets. Wednesday 26th
June marked a sad day as we had a moving Memorial Service to John Rushton. John, a Past Master
Arbitrator, was a great supporter of this church and he loved music.
Three livery company services followed – for the Grocers on 2nd July, the Firefighters on the 5th July
and the Arbitrators on the 9th July. From 3rd August almost every weekend until 12th October was
taken up with weddings, with a wide stylistic range of music chosen. Each one was a joy to be part of.
September also featured Harvest Festival services for the International Bankers and of course the colourful Costermongers at the end of the month. High Mass on All Saints’ Day, a liturgical rendering of
Bach’s Advent Cantata ‘Nun komm der heiden heiland’ preceded the busy Christmas Carol Service
season: Furniture Makers and Arbitrators, Grocers, Firefighters, London Stock Exchange Group, Britain Australia Society, Bates Wells Braithwaite and Fidelity Worldwide Investment all taking part, with
a wide array of music choices. But as always the climax has to be the Parish Carol Service (19th De12
cember). Singing and playing amidst a very packed church is always so uplifting and it is so encouraging to know that many people still want to come and be part of this special occasion.
Finally, I have to say what a wonderful joy and (privilege) it is to play our Tickell organ. Whatever the
style of music, whatever the occasion, it always responds superbly with both exciting and sublime sonorities. We possess one of the very best organs to be built in recent years. AJW
1,440 people attended concerts at St Mary-le-Bow in 2013, and £4,750 was raised from donations, rehearsal fees and concert fees.
We continued with the popular series of Thursday lunchtime Organ Recitals, organised by Matthew
Power, featuring many well-respected organists: Nigel Stark from St Martin Stamford; Christopher
Maxim of St Matthew Bethnal Green; Michael Bowden of St Mark Regent’s Park; Joseph Sentance of
St Stephen Walbrook; Sam Rathbone, the Assistant Director of Music at Rochester Cathedral; Mark
Brafield, from London; Matthew Dunn from St Botolph Aldgate; Nicholas King of St John, Boxmore;
Jonathan Rennert of St Michael Cornhill; Catherine Ennis of St Lawrence Jewry (and this year President of the Royal College of Organists); Susan Heath-Downey from St Paul Deptford; Richard Moore,
Organ Scholar at St Paul’s Cathedral, and our own Alan Wilson.
Other Thursday lunchtime concerts featured many who have performed here before, as well as up and
coming students from London’s conservatoires.
The Giltspur Singers, Londinium, Ad Libitum, the Orlando Chamber Choir, the Deutsche Bank Singers, the Purcell Singers and the Elysian Singers continue to use St Mary-le-Bow for regular rehearsals
and occasional evening concerts.
A concert in aid of the Lord Mayor’s Appeal was successful in raising £230.Once again some of the
choirs held ‘Singing Days’ here, to encourage, and audition, new singers. A beautiful Christmas concert by the Latvian pianist, Reinis Zarins, rounded off the year. NC
Use of St Mary-le-Bow by the St Paul Ministry of The Coptic Orthodox Church and the St Thomas
Syrian Orthodox Church of South India for Sunday services continued on a regular basis. This is the
second year for The Coptic Church, while the Syrian Orthodox Church has used us over a number of
years. The Syrians also hold their Easter and Christmas services here.
In the Crypt Chapel, the Healing Group now meet monthly on a Monday lunchtime, a Christian Meditation Group, run by the World Community for Christian Meditation, meets every Tuesday
lunchtime and Overeaters Anonymous meet on Thursday evenings. A Prayer Group from a local business house uses the Chapel on Thursdays at 1.00pm for 30 minutes of quiet prayer. NC
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There has been a high level
of activity in the tower in
2013 which keeps the sound
of the bells, and therefore
the presence of the church,
in the public mind.
Steeple Keeper Simon Meyer was elected Parish Clerk of St John Friday Street.
This year he has also served as Master of the Ancient Society of College Youths,
which rings here regularly | PA photo
As well as ringing for all the
major services plus six weddings (an unusually high
number for Bow) the bells
were used for regular practices by the Ancient Society
of College Youths and the
Society of Royal Cumberland Youths, as well as a
couple of ad hoc practices by
other London towers.
There have been eleven successful peals and eight quarters rung in 2013, with a
couple of bands organising monthly attempts. This demonstrates that Bow is seen as a leading location in the promotion of the art of change ringing, a position of which we can be proud. The Ancient
Society of College Youths was the most prolific society, ringing five peals in the year.
We are progressing through the faculty process so that we can order the peal boards for the Queen’s
Diamond Jubilee and Olympic peals.
Once these boards are installed the tower walls will have little space left for additional boards so we are
investigating the potential to install an electronic peal board that can scroll through the entire 510-plus
peals rung.
In fact this makes me realise that we must have missed the 500th peal being rung on the bells last
year, which would have been one of Azura Surprise Maximus conducted by Jonathon Potter on 31st December 2012. Appropriately this was a first peal in the method, underlining Bow’s position as a place
of innovation and advancement of the exercise.
Sadly, an attempt to mark the 50th anniversary of the first peal on the current bells was unsuccessful.
This was particularly unfortunate as two of the original band were ringing.
Of particular note was that we rang for the Pearlies’ Harvest Festival this year for the first time, a practice we wish to continue given their support for the bells. In fact many people don’t realise that the
Pearlies were central to the efforts to raise the funds for the current bells after the war, so it is only appropriate that we ring for their one major service at Bow during the year. [A link to a Pathé Newsreel
showing the Pearlies’ fund-raising efforts in 1956 can be found at www.stmarylebow.co.uk/video-1.]
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The installation continues to remain in
excellent condition. The new clock hammers are being built and are due to be
installed imminently. This has taken
longer than hoped but I would prefer to
get it right rather than rush it.
We are also trying to get a carpenter to
look at modifying the sound control.
These massive doors are starting to age
and one of the eight pairs is already
starting to fall off its hinges. The proposal is to create smaller openings in
the doors following the theory that the
vast majority of sound emerges from
the first crack & you don’t need to open
half the face of the tower to get the
sound out. Smaller doors will be much
easier to handle and will put less strain
on their fittings. So we are looking to
engage a carpenter to experiment on
one side of the tower; once we are satisfied we will do the same on the other
sides.
We are also looking at the possibility of
installing Hawkear, an electronic system
A newspaper sketch by Cyprus C. Cuneo from 1902 shows workmen
that measures the accuracy of ringing.
renovating the bells in time for ringing on the day of the Coronation
This is at the leading edge of technology
of Edward VII
and helps ringers improve their ringing
using analytics, rather than relying on
other humans to try to identify what needs improving, something that is extremely difficult when the
variances are measured in milliseconds.
So 2003 has been a very successful year and I would once again like to thank the office staff for all the
help they give me. With the increasing amount of ringing, Matthew Power gets a steady stream of diary requests which are very diligently handled, for which I am grateful. Bow is known to be straight forward for ringers to deal with and that is a situation we should aim to maintain. Donations from ringers during 2013 amounted to £2,030 including Gift Aid. SM
The 10th in the new series of Boyle Lectures was held on 8th April 2013. Our lecturer this year was to
have been the Revd Dr John Polkinghorne KBE FRS, former Professor of Theoretical Physics at Cambridge, former President of Queens’ College Cambridge, past winner of the prestigious (and exceptionally valuable) Templeton Prize for religion and science, and a trustee of the Boyle Lecture series
since its inception in 2004.
15
Professor John Hedley Brooke read the 2013 Boyle Lecture, written by the Revd Dr John Polkinghorne KBE FRS, in his absence
An expectant audience at the 2013 Boyle Lecture (from left): the Master Grocer Mr Philip Woodhouse, the Grocers' Clerk
Brigadier Robert Pridham OBE, the Master Mercer the Hon. Timothy Palmer and Mrs Palmer
16
Unfortunately, having written his lecture (and delivered the completed text to us) in the spring of
2012, John was taken ill just before the event. We were very fortunate in being able to call on a previous Boyle Lecturer, Professor John Hedley Brooke, to read John Polkinghorne’s text for him, which
John Brooke did with great clarity and enthusiasm.
The lecture was on the theme ‘Science and Religion in Dialogue’: it proved a comprehensive summary
of John Polkinghorne’s 25-year project to build bridges between the two disciplines, which is of course
also the hope and purpose of the Boyle Lectures project.
A vote of thanks was proposed to both John Polkinghorne and John Hedley Brooke by Dr Richard
Chartres KCVO FSA, Lord Bishop of London, who has also served on our Advisory Board since its inception and remained a faithful friend and supporter of the endeavour over the last ten years.
Once again we had a capacity audience who responded enthusiastically to two excellent contributions. The
evening also saw the launch of a new book gathering together all ten of the Boyle Lectures from 2004 to
2013, together with a historical introduction and a theological overview (Russell Re Manning and Michael
Byrne, Science and Religion in the Twenty-first Century (SCM Press, 2013)). The lecture was followed by a
reception at Grocers’ Hall and we record our sincere gratitude to the Master and Wardens of the Grocers’
Company for their continuing kind hospitality. We are also grateful to the Mercers’ Company, Gresham
College and a number of individual funders for their very welcome financial support.
Our Advisory Board – the Earl of Cork & Orrery, the Bishop of London, the Hon. Robert Boyle, Julian
Tregoning, David Vermont, Dr Russell Re Manning, Lord Plant of Highfield and Professor John
Hedley Brooke (who replaced John Polkinghorne on the latter’s retirement this year), together with the
Rector and the convener Dr Michael Byrne, continue to give the series guidance and direction, for
which we remain very grateful. MB
By offering a unique platform in the heart of the City, JustShare events at St Mary-le-Bow have continued to reach new audiences and build new partnerships in 2013. With economic and social justice continuing to be at the forefront of civic discussion, it is now more important than ever to reinforce the
Church’s strong tradition of social and economic justice advocacy.
Our annual programme featured a diverse range of lectures and panel discussions aimed at engaging
the public in discussions of capitalism, economic justice, Fairtrade, international development and
even the social value of art in public spaces! We were delighted to participate once again in National
Ethical Investment Week, and join the nationwide drive for making responsible and ethical financial
decisions.
The effort to foster new dialogues with an even wider audience saw our events venture to new venues
in 2013. JustShare were invited to arrange a lecture for the Deloitte Christian Fellowship’s quarterly
gathering that their Holborn offices, with participants visiting from the firm’s nationwide branches.
Thanks to a generous endowment from the London Churches Group (in addition to their annual support), JustShare also took its events to the Westminster Deanery with two panel discussions at St
James’s Piccadilly.
17
St James’s have a long-established tradition of social justice advocacy and outreach, thus providing an
inclusive and welcoming environment for open discussion with a new audience in Mayfair and the
West End. In March, a panel discussion as part of the global IF Campaign for food justice saw participants from A Rocha Living Lightly UK, Christian Aid, Twin Trading, and Sustainalytics debating the
role of businesses, governments, NGOs and charities in the international food shortage crisis and how
to eradicate global hunger. In September, a panel with representatives from the Building Societies Association, Hughro Ltd and the Daily Bread Cooperative discussed the merits and pitfalls of the cooperative and mutual models. Both events were kindly hosted and chaired by St James’s Piccadilly’s Rector,
the Reverend Lucy Winkett.
JustShare remain an active member of the City of London Fairtrade Group. Working in partnership
with the ever-supportive Corporation of London, at the end of 2013 we assisted in a drive to encourage
new participation in the City Fairtrade Group and will continue to seek new membership from the local business community.
We continue to promote Fairtrade by serving only Fairtrade refreshments at events, and participating
in Fairtrade Fortnight. For 2013 we hosted a lecture by Professor Chris Cramer of SOAS Department
of Development Studies who questioned: ‘Fairtrade or Flawed Research: do we know who benefits?’
This discussion was followed up a week later by an enlightening lunchtime panel discussion ‘Meet the
Farmers.’ We were delighted to welcome Mary Appiah and Esther Ephraim, two Fairtrade farmers
from the Ghana-based Kuapa Kokoo Co-operative, who shared their experiences of life on a cocoa
farm. Sophie Tranchell, Managing Director of Divine Chocolate chaired the discussion, and guests
were invited to enjoy Fairtrade refreshments kindly sponsored by Ghana International Bank.
From January to June 2013, Rachel Payling took on responsibility as JustShare’s Coordinator, assuming the
event planning role from predecessor Rachel Lindley. This was part of her twelve-month tenure
(generously funded by the Archdeaconry) which included expanding JustShare’s reach and network.
During her time with JustShare, we saw a phenomenal growth in outreach through social media networks
Twitter and Facebook. Rachel also implemented the use of MailChimp email distribution for our email
updates, through which we consistently receive above-industry-average open rates of our emails.
In September 2013, Tricia Howey joined JustShare as Coordinator on a twelve-month appointment,
picking up on Rachel’s fantastic work. Tricia has worked on strengthening JustShare’s brand recognition. We have a new display banner for our events, and our e-communication has been refined to
more strongly reinforce our brand identity. The website has also received a more subtle makeover in
efforts to ease usability, keeping the focus on upcoming events and more specifically consolidating the
Reports & Media sections. All documentation of past events (including videos, audio and written reports for download) can now be found in one location, categorised by year.
We are enormously grateful for the support of our faithful funders in 2013: the Archdeacon’s Office,
London Churches Group, City Deanery Burial Fund, Trust for London, City of London’s Small Grants
Scheme and St Mary-le-Bow PCC. We’re also thankful to receive the renewed support of the United
Reformed Church.
Thank you for the continued support from the ‘Friends of JustShare’ for their monthly donations, and
for the kind donations from the public received at the events.
2013 Events: lectures, debates and discussions
(unless where noted, events took place at St Mary-le-Bow)
18
Arcubus Coordinator Rachel Lindley (centre) pictured in Kenya, 2011

23rd January ‘Zimbabwe’s Prospects: Politics, Foreign Investment and the role of the Church’,
Lecture by Julius Makoni, Bishop of Manicaland, Zimbabwe

6th February ‘What’s the good of capitalism?’, Lecture by Dr Peter Heslam, Director of Transforming
Business and founding member of JustShare

27th February Fairtrade Fortnight event: ‘Fairtrade or Flawed Research: do we know who benefits?’ Lecture by Professor Chris Cramer, SOAS Department of Development Studies

1st March Fairtrade Fortnight event: ‘Meet the Farmers: Cocoa farmers from the Kuapa Kokoo Cooperative in Ghana’ Chaired by Sophie Tranchell, Founder and Director of Divine Chocolate. Ghanaian
refreshments sponsored by Ghana International Bank

13th March Panel discussion on food justice at St James’s Piccadilly: ‘Enough food for everyone IF...’ Ruth
Valerio (A Rocha Living Lightly UK), Joe Stead (Christian Aid), Andrew Emmott (Twin Trading) and Esther Hougee (Sustainalytics); chaired by Revd Lucy Winkett, Rector of St James’s Piccadilly

17th April JustShare debate: ‘African Tigers: Prospects for Growth amongst the Bottom Billion’
Richard Dowden (Director of the Royal Africa Society) and Rob Wilson (Social Entrepreneur/Author of
On the Up)
19
The JustShare debate about cooperatives was held at St James’s Piccadilly, courtesy of the Rector the Revd Lucy Winkett

15th May JustShare lecture: ‘Professional Philanthropy: How to save lives without leaving the City.’ Will
MacAskill (formerly Will Crouch), Co-founder and President of 80,000 Hours

5th June ‘The Art of Share Spaces: Where is the social value?’ Lecture by Ben Quash, Professor of Christianity and the Arts, King’s College London

18th September Panel discussion at St James’s Piccadilly: ‘Our Mutual Friend: is the co-operative a model
for our time?’ With Adrian Coles (Director General of Building Societies Association); Hugh Rosenbaum
(Hughro Ltd); John Clarke (Daily Bread Cooperative); chaired by Revd Lucy Winkett, Rector of St James’s
Piccadilly

11th October JustShare lecture, hosted at the offices of Deloitte LLP, Holborn: ‘Thy Kingdom Come (in
the Workplace) Paul Szkiler, Chairman of Truestone Asset Management

16th October National Ethical Investment Week Panel discussion: ‘Principles & Profits: Investing to protect people, the planet and your savings’ with panellists Victoria Heath of EIRIS and Louise Rouse of
ShareAction, chaired by Simon Howard, Chief Executive of UKSIF

4th December Lecture by The Revd Chris Beales: ‘Practicing Jesus: Making sense of God and Gospel in
these compromised and messy times.’ Chaired by Canon Giles Goddard of St John’s and St
Andrew’s Waterloo. Event was followed by exclusive sale of handcrafted Afghan rugs, with proceeds benefitting disadvantaged weavers from Kabul.
20
In the past year we have identified Twitter as the most useful and reliable network for the dissemination of information as well as the best platform for joining the wider social justice discussion. New follower figures are increasing daily, with a broad reach across ecumenical, interfaith and secular channels. We currently have 284 specific followers – a 31% increase in the second half of 2013 alone. The
overall potential reach in all of 2013 from retweets, mentions and original Tweets was over 495,000
Twitter users.
Delegates at the 2013 Rectors’ and Deans’ Conference visit the New York Stock Exchange



Top tweets for 2013
London Diocese: Tweeted to over 3,400 followers
Alert News: Tweeted to over 43,300 followers
Divine Chocolate: Tweeted to over 18,000 followers
We’ve now established an independent JustShare YouTube Channel. Previously our recorded events
we’re kindly hosted via St Mary-le-Bow’s Channel or on the St Paul’s Institute’s website. JustShare are
now able to present our events on a dedicated and branded channel and we continue to receive steady
viewing figures of our event videos. In the autumn of 2013 JustShare joined LinkedIn in efforts to
reach wider City business community.
We are enormously grateful to the Steering Group members for their continued support and participation, and especially to Robert Gordon for filming and editing our events. TH
21
We began 2013 with a new strategy and a sense that this was our final push. In mid-2012 we had decided
to stop promoting the charitable investment bond as the key tool in our strategy. It wasn’t working; we had
learnt the hard way that the interest we were offering was too low, the bond was not liquid enough and it
was too small scale for City investors. It was little consolation to read a report on social impact investing
commissioned by the Corporation of London concluding almost exactly the same thing.
As we sought City investors, we discovered that the Bond fell squarely between the two stools of CSR
and SRI (corporate social responsibility and socially responsible investment), making it very easy for
both to say no. And, dare we say it, we found some City people slow to catch on to what microfinance
and social investment are. Old-fashioned philanthropy still holds more sway – although that has been
changing as social impact bonds gain traction even over Arcubus’s short life. We were one of the earliest social impact bonds to launch in the City but were overtaken by more attractive bonds (larger scale
with higher returns) launched by banks whose marketing budgets for one year alone would cover the
full operating costs of JustShare and Arcubus for several years together.
We spent a little time in 2012–13 exploring several possible alternative social investment structures
and eventually concluded that none of them was likely to be more successful than the Allia Bond. So
with the advice and support of our trustees, our strategy for 2013 was to focus on a new product altogether: the Arcubus Experience.
The Arcubus Experience offers teams of City workers the chance to spend a week sharing their skills
with micro-entrepreneurs, developing new skills themselves and experiencing first-hand the challenges and opportunities of building a business on a dollar a day. We created a new leaflet to promote the
Experience, redesigned our website and revised our pitch. We tested it on some of our contacts at Fidelity Worldwide Investment, Hoare’s Bank, Herbert Smith, DfID, the Corporation of London, Newton
and Impact Value, and then proposed the concept to several companies. So far, these have included
Citi, Aberdeen Asset Management and Standard Chartered (all of whom invited us to meet them in
person), Nomura, UBS, Ashmore and JP Morgan. The Experience has been well received by some of
our audiences and we’re awaiting appointments with others, but still we have had no break-through.
In a sense, this is exactly where we were in 2010 and 2011, when Arcubus first launched; influential
people in the City told us it was a good idea, but not good enough, it later transpired, to put their own
money into it. However, that’s why we launched Arcubus in the first place – we realised we could never
know if people honestly thought it was a good idea unless we launched an actual product for them to
invest in (or not) for real. We know now that the Bond we launched wasn’t attractive enough – and so
far, the Experience hasn’t attracted enough investment either. But we think we have enough irons in
the fire to give ourselves twelve more months; we have at least one company showing interest, a possible sponsorship and the support of Mozambique’s High Commissioner in approaching some major
companies with Mozambique interests.
In 2014 I’ll be handing over the task of keeping these few irons hot to a successor; I am moving to a new
role in microfinance, taking with me the passion for pro-poor financial services which Arcubus helped to
inspire. I shall certainly remain closely interested and very keen for Arcubus to raise some more funding
for our partners and, even more importantly, for the vulnerable communities and entrepreneurs in
Mozambique, Tanzania and Malawi who are the reason we began Arcubus in the first place.
As this is the last annual report I shall write for Arcubus, inevitably it becomes a bit of a reflection on
22
the whole project. What have we achieved?
Were we mad to attempt it? A church in
the City to try to raise £1million to build
banks for poor communities in Mozambique, Malawi and Tanzania?
We launched in March 2010 at a nervewracking dinner hosted by the Guildhall;
in the just-under-four years since then, we
have raised and distributed to our partners
£100,000 as well as covering all of our
own modest running costs (with thanks to
JustShare and St Mary-le-Bow for the latter). £100,000 is 10% of our ambitious
£1m target so on that metric we have fallen far short – but it is worth noting that in
Malawi, Tanzania and Mozambique
where 100% of our £100,000 went, a little
goes a long way. £50,000, for example,
could mean 5,500 people open savings
accounts in northern Mozambique, enabling them to manage seasonal incomes
and protect themselves against poor harvests or sickness; eight Training Officers deliver training to 9,600 women in Malawi, giving them the
skills and confidence to improve their businesses; or 1,272 new loans are made to women in rural Tanzania who have no access to banks, enabling them to start or expand a micro-business and earn sufficient income to care for their families.
But it is not the raising of £100,000 or the failure to raise £1m which seems, looking back, to be the
most salient feature of Arcubus. We’ve been delighted by the support we’ve received from a handful of
individual churches and cathedrals, not to mention a number of very generous individuals we’ve met
through Church and other events. Within the Square Mile itself, however, the real achievement has
been the access which we have had to influential companies and people. Sir Michael Snyder is our Patron; the Bishop of London is our President and our founder trustees and those who succeeded them
have been unfailingly committed to the work, despite its slow progress. The Corporation was hugely
supportive in hosting our launch dinner, funding all of our initial marketing costs and giving us access to some leading City figures. Allen & Overy LLP did all our legal work pro bono and hosted a wellattended seminar for us, and Knox Cropper continue to carry out our annual audit pro bono. We’ve
been invited to conferences at Wilton Park, Portcullis House and the House of Lords; we’ve been referenced in parliamentary debate and we initiated an exchange with the Treasury and DfID on tax relief
for social impact bonds. We’ve presented to groups or individuals at many major companies in the
City and Canary Wharf, including Credit Suisse, Clifford Chance, Coutts, Herbert Smith, Aberdeen
Asset Management, Standard Bank, Citi, the Ashmore Foundation, Fidelity Worldwide Investment,
RBS, Barings, City Bridges, Deutsche Bank, UBS, Cazenove, Barclays and JP Morgan.
We (the Rector and Rachel) have sometimes felt that we’ve punched above our weight (do we mean
plunged out of our depth?) in this sphere; it has felt audacious to tell CEOs in the City about the benefits of providing financial services and business training to micro-entrepreneurs in Mozambique.
23
Given their busy-ness and the number of charitable requests they receive, we’ve been constantly surprised at the number of them willing to listen to us. It’s just a shame that they haven’t been so willing
to fund the provision of those financial services too.
There is a long way to go to reach £1m and it will not surprise me if we wind up Arcubus well before
we reach that target. But we still need to promote ethical finance in the City and to keep the developing
world in the mind of the City. We founded Arcubus as a tangible, practical project, to enable City people to engage in a practical way with the issues of ethical economics and social justice which JustShare
debates regularly. The City of London is a key player in a global economy which believes in the vitality
of financial services and in creating opportunities for business to flourish. But these opportunities
have yet to reach the majority of the global population. By this metric, there is still a role for JustShare
and other churches to remind the City of the inequality we currently see, where so many women and
men have no safe place to save or borrow capital, no access to business training and no way to earn
more than the barest income for their family. And there is still a role for Arcubus, or other microfinance programmes like it, to launch products giving City workers the opportunity to take positive
action to create ‘a fair deal for a whole world’. REL
The visitors’ book at our companion parish, Trinity Wall Street, New York City, shows the visit of St Mary-le-Bow
parishioners Claire and Peter Mansi
24
The City Deanery Synod meets three times a year in June October and January. It consists of lay and
clerical members who meet separately and jointly within the Synod. The parish’s Deanery Synod representatives are Alan Hovell and Hannah Tillyer. For most of the time the Synod struggles to find
business to transact and the meetings are filled with presentations from invited speakers. The January
2014 meeting was attended by the Lord Mayor and included a presentation from Capital Vision 2020
– a diocese initiative looking to equip and commission 100,000 ambassadors representing Jesus
Christ by 2020. HT
The Rector leads Prayers for Remembrance on 11th November
Press coverage has been quiet this year, but worthy:

Our organ, built by Kenneth Tickell in 2010, was described in a technical article by project consultant John Norman in Organ Building (the journal of the British Institute of Organ Building)

The Café Below was chosen as the venue for a ‘Lunch with the FT’ interview with Archbishop
Justin Welby by Financial Times journalist Lucy Kellaway

The FT interview was subsequently quoted in the ‘Notebook’ section of The Tablet in May
25

The popular BBC TV programme Flog It! filmed here in May

There have been two repeats this year of the BBC TV programme Great Railway Journeys,
featuring Michael Portillo and filmed here in 2011
Developments to our in-house publicity have included the following:

We took delivery of a slightly larger new A-board which is more prominent in the Churchyard
and enhances large-size posters

Ian Livingston photographed the interior of the church and we use his images on our publicity
[see more of his work at fiftyprime.net]

Our regular email bulletins are now sent using MailChimp, a bulk email client, which enables a
more attractive format including images; it also provides a better means for subscribers to manage their preferences and register for events

A new DL-size colour brochure is produced in-house and made available at the City Information
Centre on St Paul’s Churchyard

We adopted a new Anniversary logo for use throughout 2014
In addition to our Cheapside Debates this year, we also partnered other organisations in successful
panel discussions with:

C3 Collaborating for Health

The Sheriffs’ and Recorder’s Fund
We have begun planning adoption of Facebook and Twitter social media tools to promote St Mary-leBow in 2014. JustShare already benefits form this technology. MRP
www.stmarylebow.co.uk
Our home page continues to reflect the daily posters on Bow Lane, and is updated each morning with
similar-looking panes showing at a glance what’s on today and tomorrow alongside a scrolling threemonth programme of events. A ‘latest news’ header now enables immediate access to our most recent
updates, and a ‘welcome’ button helps new visitors to join our mailing list, or simply ask a question, in
a single click.
Photographs and transcripts of events are now regularly enhanced by the addition of audio and video
recordings, the latter produced for us by Rob Gordon of the St Paul’s Institute. Statistics reveal the following:
Over the last year (January to December 2013), there was a 12% decrease in visits (31,423, compared
with 35,867 the previous year); new visitors were almost the same at 75%. The ‘bounce rate’ has increased significantly (to 50% up from 14%); this represents visitors who reach the front page but do
not have further interaction with the site. A possible explanation is the daily events displayed there,
with regular users visiting the front page to check what’s on today or tomorrow.
Visitors are mainly from the UK (74%) followed by USA (8%), Australia (1.6%), then Canada and
26
European countries. Sources for traffic to the site are similar to last year’s patterns. Search engines
(Google etc) account for 52% of traffic (searching for St Mary-le-Bow, Bow Church or similar), 18%
came from referrals (from other sites) and 30% was direct traffic. As previously, there are few territories which do not register on our visitors’ map now; these are located in West Africa and the Middle
East. Search paths show the following very constant pattern (in order of popularity): Home / Bow
Bells / History / Concerts / Services / other. We also maintain a You Tube channel which hosts video
recordings of our events at www.youtube.co.uk/stmarylebow. These have generated between 100 and
800 views each.
www.arcubus.org.uk
The social investment charity launched a new website in 2013, statistics reveal almost identical traffic
(1,185 visits compared to 1,188 the previous year). Of these visitors, 64% were new, 36% were returning. 51% of traffic came from a search (for Arcubus) showing a 19% increase on searches from last
year; 7% came from referrals (from other sites) and 42% was direct traffic.
www.justshare.co.uk
Visits to the site this year stand at 3,897 compared to 2,109 in 2012, an increase of 84%. Of these,
69% of visitors were new, 31% were returning. of this traffic, 47% came from a search, 16% came
from website referrals, 15% via social media referrals, 3% came from email, and 19% was direct. MP
The first Christmas Carol Service for the Grocers’ Company included music from choristers of St Paul’s Cathedral,
accompanied by their director of music Andrew Carwood (right)
27
St Mary le Bow
Statement of Financial Activities
Note
Incoming Resources from
generated funds
Voluntary income
Income from investments
Other incoming resources
2
2
2
Unrestricted
Funds
£
Restricted
Funds
£
Endowment
Funds
£
Total
2013
£
Total
2012
£
63,024
4,859
93,002
23,150
35,023
43,334
-
86,174
39,882
136,336
71,290
38,702
131,867
160,885
101,507
-
262,392
241,859
153,168
8,173
77,321
-
-
230,489
8,173
208,342
6,388
161,341
77,321
-
238,662
214,730
24,186
-
-
23,730
-
27,129
-
12,385
10,687
121,154
144,226
70,024
Net Movement in Funds
11,929
34,873
121,154
167,956
97,153
Total funds brought forward
44,974
45,636
776,514
867,124
769,971
Total Funds Carried Forward
56,903
80,509
897,668
1,035,080
867,124
Total Incoming Resources
Resources Expended
Church activities
Governance costs
3
3
Total Resources Expended
Net incoming resources before
revaluations and investment
asset disposals
Transfers between funds
10
Gains/(losses) on revaluation and
disposal of investment
assets
7
(456)
-
The notes on pages 36 - 41 form part of these financial statements.
Page: 3
St Mary le Bow
Notes to the Financial Statements
1
Accounting Policies
The principal accounting policies which are adopted consistently in the preparation of the financial
statements are set out below.
a)
Basis of accounting
The financial statements have been prepared in accordance with the Church Accounting Regulations
2006 together with SORP 2005 and the Financial Reporting Standard for Smaller Entities (effective
April 2008).
The financial statements have been prepared under the historical cost convention except for the
valuation of investment assets, which are shown at market value. The financial statements include all
transactions, assets and liabilities for which the PCC is responsible in law. They do not include the
accounts of church groups that owe their main affiliation to another body, nor those that are informal
gatherings of church members.
b)
Incoming resources
Planned giving, collections and donations are recognised when received. Tax refunds are recognised
when the incoming resource to which they relate is received. Grants and legacies are accounted for
when the PCC is legally entitled to the amounts due and they can be quantified with reasonable
certainty. All other income is recognised when it is receivable. All incoming resources are accounted
for gross.
c)
Resources expended
Grants and donations are accounted for when paid over, or when awarded, if that award creates a
binding or constructive obligation on the PCC. The diocesan parish share is accounted for when due.
All other expenditure is generally recognised when it is incurred and accounted for gross, and is
allocated between activities on the basis of the resources used.
d)
Tangible fixed assets and depreciation
Consecrated land and buildings
Consecrated land and benefice property is excluded from the financial statements under s10.2 of the
Charities Act 2011.
Movable church furnishings
Movable church furnishings held by the rector and churchwardens on special trust for the PCC and
which require a faculty for disposal are inalienable property, listed in the church's inventory, which can
be inspected (at any reasonable time). For anything acquired prior to 2000 there is insufficient cost
information available and therefore such assets are not valued in the financial statements.
Subsequently, individual items costing more than £1,000 are capitalised and depreciated evenly over
10 years.
Equipment, Fixtures and Fittings
Equipment used within the church premises is depreciated on a straight line basis over three years.
Individual items of equipment with a purchase price of £500 or less are written off when the asset is
acquired.
e)
Investments
Investments are stated at market value at 31 December 2013. Any gains or losses arising on
revaluations are transferred to the Statement of Financial Activities.
Cash is held on deposit with CCLA Investment Managers Ltd to be used in church business on a
continuing basis.
Page: 33
St Mary le Bow
For the year ended 31 December 2013 (Continued)
1
Accounting Policies (continued)
f)
Fund accounting
Endowment funds are funds, the capital of which must be maintained; only income
arising from investment of the endowment may be used either as restricted or
unrestricted funds depending upon the purpose for which the endowment was
established.
Restricted funds represent (a) income from trusts or endowments which may be
expended only on those restricted objects provided in the terms of the trust or bequest,
and (b) donations or grants received for a specific object or invited by the PCC for a
specific object. The funds may only be expended on the specific object for which they
were given. Any balance remaining unspent at the end of the year must be carried
forward as a balance of that fund. The PCC does not usually invest separately for each
fund. Where there is no separate investment, interest is apportioned to individual funds
on an average balance basis.
Unrestricted funds are general funds which can be used for PCC ordinary purposes.
2
Incoming Resources
Voluntary income
Regular giving
Collections (open plate)
Grants
Donations, appeals etc
Boxes at back of Church
Income tax recovered
Income from investments
Bank interest receivable
Other investments UK
Other incoming resources
Sundry income
Parish Fees
Christmas card commission
Voluntary church rates
Music collection
Licence fees
Just Share
Rector's Discretionary Fund
History Publications
Lectures and Conferences
Total
Unrestricted
Funds
£
18,387
16,588
13,605
6,329
8,115
Restricted
Funds
£
23,150
-
Total
2013
£
18,387
16,588
23,150
13,605
6,329
8,115
Total
2012
£
20,293
13,088
5,685
20,776
5,010
6,438
63,024
23,150
86,174
71,290
111
4,748
35,023
111
39,771
116
38,586
4,859
35,023
39,882
38,702
4,172
2,698
2,312
40,420
4,954
37,881
565
-
13,018
10,833
13,076
4,707
1,700
17,190
2,698
2,312
51,253
4,954
37,881
13,076
4,707
565
1,700
6,811
1,150
2,762
58,286
4,476
31,885
19,804
4,487
400
1,806
93,002
43,334
136,336
131,867
160,885
101,507
262,392
241,859
Page: 34
St Mary le Bow
3
Allocation of Resources Expended
Unrestricted
Funds
£
Church activities
The St Mary le Bow Young
Homeless Project
Other charitable donations
Just Share
Rector's Discretionary Fund
Verger's wages and salaries
Staff salaries
Central Fund Contributions
Parish expenses
History Publications
Major repairs
Repairs and renewals
Rates and water
Electricity and gas
Telephone
Stationery and Postage
Sundry expenses
Office costs
Music expenses
Sacristy
Depreciation
Goverance costs
Legal and professional fees
Independent Examination fee
Bank charges and interest
Total
4
Restricted
Funds
£
Total
2013
£
Total
2012
£
6,485
5,089
24,500
61,256
9,981
210
8,697
4,612
377
8,644
820
578
814
11,662
8,021
1,120
302
153,168
14,075
3,228
24,939
10,084
24,995
77,321
6,485
5,089
14,075
3,228
24,939
34,584
61,256
9,981
210
33,692
4,612
377
8,644
820
578
814
11,662
8,021
1,120
302
230,489
4,809
4,487
13,665
3,619
24,455
32,966
58,900
7,215
128
8,691
13,132
356
7,191
1,061
755
9,601
10,235
6,762
12
302
208,342
3,976
3,762
435
8,173
-
3,976
3,762
435
8,173
2,822
3,050
516
6,388
161,341
77,321
238,662
214,730
Licence Fees
During the year £37,881 (2012 - £31,885) was received from The Crypt Restaurant, Bow Wine Vaults
and Taberna Etrusca as well as the flower and shoeshine stalls in respect of licence fees receivable.
Page: 35
St Mary le Bow
5
Staff Costs
2013
£
Staff costs:
Wages and salaries
Social Security
55,218
4,305
59,523
2012
£
53,184
4,238
57,422
Payments to PCC Members
A small immaterial portion of the expenses paid to the incumbent may have related to his services as
chairman of the PCC. No other payments or expenses were paid to any other PCC member, persons
connected with them or related parties.
There were 4 (2012: 4) employees at St Mary Le Bow in 2013.
6
Tangible Fixed Assets
Cost
At 1 January 2013 and at 31 December 2013
7
Equipment,
Movable
Fixtures and
Church
Fittings
Furnishings
£
£
7,452
3,016
Total
£
10,468
Depreciation
At 1 January 2013
Provision for the year
7,452
-
1,508
302
8,960
302
At 31 December 2013
7,452
1,810
9,262
Net book value
At 31 December 2013
-
1,206
1,206
At 31 December 2012
-
1,508
1,508
Market value at 1 January 2013
Net gain/(loss) on revaluation
2013
£
766,935
144,226
2012
£
696,911
70,024
At 31 December 2013
911,161
766,935
Managed funds
Cash
911,161
-
766,935
-
911,161
766,935
Investments - UK
Historical cost of the managed funds at 31 December 2013 - £229,258 (2012 - £229,258).
Page: 36
St Mary le Bow
8
Debtors
Other debtors
9
Amounts falling due within one year
2013
£
9,510
2012
£
6,688
9,510
6,688
2013
£
Other creditors and accrued expenses
2012
£
5,397
7,003
5,397
7,003
10 Unrestricted Funds:
General Funds
Unrestricted fund
Balance
at
01.01.2013
£
23,924
Incoming
Resources
£
160,885
Resources
Transfers/
Expended Revaluation
£
£
(161,341)
12,385
Balance
at
31.12.2013
£
35,853
Balance
at
01.01.2013
£
21,050
Incoming
Resources
£
-
Resources
Expended
£
-
Balance
at
31.12.2013
£
21,050
Designated Funds
Lodging Roof Fund
Lodging Roof Fund:
Transfers
£
-
The flat roof to the Lodging has been in place since the 1960’s rebuild of
the church, with only minor repairs. It will shortly need replacing and the
PCC have determined to keep this provision under review.
11 Restricted Funds
Balance
at
01.01.2013
£
Sale of Silver Fund
Other
Incoming
Resources
£
Resources
Expended
£
Transfers/
Revaluation
£
Balance
at
31.12.2013
£
37,912
7,724
35,023
66,484
(35,023)
(42,298)
10,687
-
48,599
31,910
45,636
101,507
(77,321)
10,687
80,509
12 Endowment Funds
Balance
at
01.01.2013
£
Permanent endowments
sale of Silver Fund
776,514
Incoming
Resources
£
-
Resources
Expended
£
-
Transfers/
Revaluation
£
121,154
Balance
at
31.12.2013
£
897,668
Page: 37
St Mary le Bow
13 Analysis of Net Assets between Funds
Unrestricted Restricted
Funds
Funds
£
£
Fund balances at 31 December 2013
are represented by:
Tangible fixed assets
Investments
Inter-fund loan
Net current assets
Endowment
Funds
£
Total
2013
£
Total
2012
£
1,206
118,400
(106,124)
43,421
64,258
(28,667)
44,918
728,503
134,791
34,374
1,206
911,161
122,713
1,508
766,935
98,961
56,903
80,509
897,668
1,035,080
867,404
Net current assets at 31 December 2013 includes cash allocated as follows:
Endowment
Restricted
Unrestricted
£
34,374
44,918
39,308
118,600
14 Commitments under operating leases
At 31 December 2013 the Parochial Church Council had an annual commitment
under operating lease in respect of a photocopier as follows:
2013
Expiry date: 2-5 years
3,278
2012
3,278
15 Fund Details
The restricted funds include 4,465 units of the Sale of Silver fund which are subject to direction from the
Court and therefore are not permitted to be withdrawn.
The Endowment fund includes the balance of units on the Sale of Silver fund (50,620 units) which are
used to fund salaries and related expenses of the Verger. (These may also be used on a discretionary
basis for the salaries of the Cleaner and Secretary).
Page: 38
28

annual report 2013 - St Mary-le-Bow

Transcription

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