# St Peter's Canary Wharf Trust
Report and Accounts Year ended 31 December 2020
## **ST PETER'S CANARY WHARF TRUST**
## **COMPANY INFORMATION**
## **FOR THE YEAR ENDED 31 DECEMBER 2020**
**Trustees** Mr A Neden Mr B O'Donoghue Rev W Taylor (Resigned April 2021) Mr M Evans Ms Alison Garrow (Appointed August 2021) Mr Bruce Gardiner (Appointed November 2021) Mrs Rebecca Lewis (Appointed November 2021) **Company Secretary** Mr B O'Donoghue (Resigned November 2021) **Key Member of Staff** Rev M Nodder **Governing Document** Memorandum and Articles of Association 22 August 2002 **Company Registration Number** 04517392 **Charity Registration Number** 1096848 **Principal Address** St Peter's Barge West India Quay Hertsmere Road London E14 4AL **Registered Office** St Peter's Barge West India Quay Hertsmere Road London E14 4AL **Independent Examiner** Lisa Darby, ACA Stewardship 1 Lamb's Passage London EC1Y 8AB **Bankers** National Westminster Bank plc PO Box 282 216 Bishopsgate London EC2M 4QB CAF Bank Ltd 25 Kings Hill Avenue Kings Hill, West Malling Kent ME19 4JQ
2
|**Contents**|**Page**|
|---|---|
|Company Information|2|
|Trustees' Annual Report|4|
|Independent Examiner's Report|5|
|Statement of Financial Activities|6|
|Balance Sheet|7|
|Notes to the Accounts|8-13|
|Detailed SOFA|14|
3
## **ST PETER'S CANARY WHARF TRUST**
## **TRUSTEES' ANNUAL REPORT (INCORPORATING DIRECTORS' REPORT)**
## **FOR THE YEAR ENDED 31 DECEMBER 2020**
The trustees, who are the charity's directors for the purposes of company law, have pleasure in submitting the Report and Accounts for the year.
## **Objects of the charity**
The charity is a charitable company registered with the Charities Commission – charity number: 1096848 and is governed by its memorandum and articles of association. The objects of the
## **Summary of the charity's main activities**
To further the above objects and vision, the charity's main activities has been the provision of a meeting place for a Christian workplace ministry within the Canary Wharf complex in London and a Sunday church for those living in the wider Docklands area.
The barge is in the first place a Christian centre for the 120,000 working in Canary Wharf. It aims to encourage and equip Christians who work in the Wharf to live out their faith in the workplace, and to provide a relaxed and unpressured environment for those who are not Christian to investigate the claims of Jesus Christ.
There are weekly lunchtime Bible talks, bible study groups, and a course for enquirers, as well as opportunities to meet to talk one-to-one. St Peter's also holds special guest events to enable Christians in Canary Wharf to invite their friends to hear the Christian good news, ask questions and discuss. The location and venue make it especially attractive for those who may be put off by more traditional church.
In addition to the midweek work there is a Sunday congregation focused on reaching out to friends and the community in this thriving and ever-developing part of London. The Sunday church has a congregation of about 100 adults and 30 children meeting at church services on Sunday mornings, and for groups and activities during the week. Income is raised through the Company in order to fund this work.
In planning the activities the Trustees have applied the guidance on public benefit issued by the Charity Commission.
## **Structure, Governance and Management**
Responsibility for setting policy and for determining the parameters within which the charity should operate rests with the trustees who monitor the activities of the charity. Responsibility for the day to day operation of the charity has been delegated to a senior management team led by Rev M Nodder. New trustees are recruited and appointed by the existing trustees, by a majority vote.
## **Financial review**
During the year income increased by £7,115 to £311,275, and expenditure decreased by £60,050, to £292,131. As a result total funds for the year increased by £19,144 to £276,945 and the charity's net assets increased by the same amount, to £276,944. Net current assets increased by £37,901 to £251,999.
## **Reserves policy**
The trustees have determined that the charity should aim to hold unrestricted cash of no less than £72,590 (which equates to about 3 months' of unrestricted expenditure) so that the charity could continue to operate should income and / or expenditure vary adversely. At the year end, the charity held unrestricted cash of £240,344 and the charity is complying with its reserves policy.
## **Covid-19**
In March 2020 the charity took steps (in line with government advice) to help contain the nationwide outbreak of Covid-19. This included the temporary suspension of all physical gatherings and the charity has had to curtail, or change, how it operates; the charity has been able to continue some of its activities using on-line media. To date there has been no significant impact on net income nonetheless the trustees are continuing to monitor income and expenditure closely and, if it becomes necessary, will take measures to mitigate any financial impact. The charity has not had to make any redundancies or furloughed any staff.
## **Key risks and uncertainties**
The charity is exposed to various risks - be they operational, financial or reputational. The trustees review the charity's activities to identify significant risks and, where possible, they take appropriate measures to mitigate those risks.
## **Responsibilities of trustees under company law**
The trustees are responsible for preparing the trustees' annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing these financial statements, the trustees are required to:
1. select suitable accounting policies and apply them consistently;
2. observe the methods and principles in the Charities SORP;
3. make judgements and estimates that are reasonable and prudent;
4. state whether the applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
5. prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **Approval**
This report, which has been prepared in accordance with the provisions of the Companies Act 2006 relating to small companies, was approved by the trustees and signed on their behalf by:
_____________________________________Rebecca Lewis
Date: 13 December 2021
4
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF**
## **ST PETER'S CANARY WHARF TRUST**
## **('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2020 on pages 6 to 14 following, which have been prepared on the basis of the accounting policies set out on pages 8 to 9.
## **Responsibilities and basis of report**
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
## **Independent examiner’s statement**
Since the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of The Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
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.
Lisa Darby, ACA
The Institute of Chartered Accountants in England and Wales
Stewardship 1 Lamb's Passage London EC1Y 8AB
Date: 13 December 2021
5
## **ST PETER'S CANARY WHARF TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## **FOR THE YEAR ENDED 31 DECEMBER 2020**
|Note
**INCOME AND ENDOWMENTS FROM:**
Donations and legacies
3
Charitable activities
4
Investments
5
**Total income and endowments**
**EXPENDITURE ON:**
Charitable activities
6
**Total expenditure**
**Net income/(expenditure)**
**Transfers between funds**
13
**Other recognised gains/(losses):**
Gains/(losses) on revaluation of fixed assets
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**
13|Unrestricted
Funds
£
308,372
220
143
308,735
289,925
289,925
18,810
-
18,810
-
18,810
256,601
275,411|Restricted
Funds
£
2,540
-
-
2,540
2,206
2,206
334
-
334
-
334
1,200
1,534|Total
Funds
2020
£
310,912
220
143
311,275
292,131
292,131
19,144
-
19,144
-
19,144
257,801
276,945|Total
Funds
2019
£
283,859
19,971
330
304,160
352,181
352,181
(48,021)
-
(48,021)
-
(48,021)
305,822
257,801|
|---|---|---|---|---|
Rounding Differences of £1 may appear in these accounts
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing operations.
The statement of financial activities also complies with the requirements for an income and expenditure account required by the Companies Act 2006.
The notes on pages 8-13 form part of these accounts.
6
## **ST PETER'S CANARY WHARF TRUST**
## **BALANCE SHEET**
## **AS AT 31 DECEMBER 2020**
|Note
**FIXED ASSETS**
Tangible assets
7
**CURRENT ASSETS**
Stock
8
Debtors
9
Cash at bank and in hand
10
**CREDITORS: Amounts falling**
**due within one year**
11
**Net current assets / (liabilities)**
**Total assets less current liabilities**
**CREDITORS: Amounts falling due**
12
**after more than one year**
**TOTAL NET ASSETS**
**FUND BALANCES**
13
Unrestricted Funds
General funds
Designated funds
Restricted Funds|Unrestricted
Funds
£
66,708
66,708
166
27,918
240,344
268,428
(17,962)
250,465
317,173
(41,763)
275,410
275,410
-
275,410
-
275,410|Restricted
Funds
£
-
-
-
-
1,534
1,534
-
1,534
1,534
-
1,534
-
-
-
1,534
1,534|Total
Funds
2020
£
66,708
66,708
166
27,918
241,878
269,962
(17,962)
251,999
318,707
(41,763)
276,944
275,410
-
275,410
1,534
276,944|Total
Funds
2019
£
89,216
89,216
-
39,368
191,986
231,354
(17,256)
214,098
303,314
(45,513)
257,801
256,601
-
256,601
1,200
257,801|
|---|---|---|---|---|
Rounding Differences of £1 may appear in these accounts
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006 however, in accordance with Section 145 of the Charities Act 2011, the accounts have been examined by an independent examiner and their report has been included in these financial statements.
The directors (who are the charitable company's trustees for the purposes of charity law) acknowledge their responsibilities for:
- (a) ensuring that the charitable company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its net income or expenditure for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
The financial statements were approved by the Board of Directors and were signed on its behalf by:
---------------------------------------
Rebecca Lewis
Date: 13 December 2021
Company number: 04517392
Charity number: 1096848
The notes on pages 8-13 form part of these accounts.
7
## **ST PETER'S CANARY WHARF TRUST**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2020**
## **1 Statutory Information**
The charity is a charitable company limited by guarantee and is incorporated in the United Kingdom. The company's registered number and registered office address can be found on the Company Information page.
## **2 Accounting Policies**
These financial statements are prepared on a going concern basis, under the historical cost convention
These financial statements have been prepared in accordance with the "Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) ("the Charities SORP"), with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland ("FRS 102"), with the Companies Act 2006 and with the Charities Act 2011. The charity meets the definition of a public benefit entity as set out in FRS 102.
The previous year's results have been restated to reflect the correction of an error in a prior period. The results for 2019, which are comparatives quoted in these accounts, have been restated; details of the restatement are given in note 16. The correction is not material.
The principles adopted in the preparation of the financial statements are set out below.
a) Going concern The trustees (who are the charitable company's directors for the purposes of company law) have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees have considered the charity's forecasts and projections and the possible implications should projected income and / or expenditure vary unexpectedly. The trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue to operate for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements. In making this assessment the trustees have considered how Covid-19 might affect projections.
b) Income Income including investment income is recognised in the period in which the charity becomes entitled to receipt, the amount receivable can be measured with reasonable certainty, and receipt is probable. For the most part, income is generally recognised when it is received. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.
Income from donations includes:
- i) Recoverable gift aid. This is recognised when the related donation is received. Gift aid that has not been recovered by the balance sheet date is included as a debtor.
- The charity relies on volunteers to carry out many of its activities. However, in accordance with the SORP, the value of these services has not been included in these financial statements as they cannot be reliably measured.
Income from charitable activities represents income receivable from goods, services and facilities supplied in furtherance of the charity's charitable objects. It includes income from church retreats and other activities.
Investment income represents income generated by the charity's assets and includes income from bank interest.
c) Expenditure Expenditure, including irrecoverable VAT, is recognised when it is incurred or, if earlier, when a legal or constructive obligation for a payment arises provided that it is probable that settlement will be required and the amount of the obligation can be measured reliably.
The charity makes grants to other institutions and individuals to further its charitable objectives. Grants payable are recognised as constructive obligations arise, which is generally when the charity expresses a commitment to the recipient that can be measured reliably and then only to the extent that any conditions associated with the grant are outside of the control of the charity.
Governance costs, which are included in expenditure on charitable activities but are identified separately in the notes to the accounts, includes costs associated with the independent examination of the financial statements, compliance with constitutional and statutory requirements and any other expenditure incurred on the strategic management of the charity.
d) Fund accounting General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects.
## e) Tangible fixed assets
Items purchased or donated for the charity's own use are capitalised when the cost of purchased items, or the fair value of donated items, is more than £500 and the item is expected to benefit the charity over more than one accounting period. Depreciation is charged on a straight line basis so as to write down the value of each asset to its estimated residual value (if any) over its expected useful economic life. To achieve this objective the following rates of depreciation are charged:
Barge inc. refurbishment 20 years Fixtures and fittings 5 years
8
## f) Leased assets
- Leases which do not transfer substantially all the risks and rewards of ownership to the charity are classified as operating leases. Operating lease payments are recognised as an expense on a straight-line basis over the lease term (unless another systematic basis is more representative of use).
## g) Pension scheme arrangements
The charity operates defined contribution pension schemes for its employees. Obligations for contributions to these schemes are recognised as an expense when the liability arises. The assets of these schemes are held separately from those of the charity in independently administered funds.
h) Taxation The company is a registered charity; it has taken advantage of the various reliefs from taxation available to charities and no tax is payable on the charity's income.
## i) Exemption from preparing a cashflow statement
The charity has taken advantage of an exemption conferred by the Charities SORP and has not prepared a cash flow statement.
j) Critical accounting estimates and areas of judgement ln preparing financial statements certain judgements, estimates and assumptions have to be made that affect the amounts recognised in the financial statements. The trustees consider the following to be significant:
i) The annual depreciation charge for property, plant and equipment is sensitive to changes in the estimates for useful economic life and residual value. These estimates are reassessed annually and, when necessary, adjusted to reflect current circumstances.
## **3 Donations**
|Donations of cash and similar
Other donations - Grace Church Greenwich
Income tax recoverable
**4**
**Income from charitable activities**
Church retreats and events
Book sales
**5**
**Investment income**
Bank interest
**6**
**Charitable expenditure**
**a**
**Costs incurred directly on specific activities**
Staff costs
Grants payable (note 6c)
St Peter's Barge activities
Barge costs
**b**
**Costs incurred on support & administration**
Governance costs - accounts and examination
Insurance
Rent - external premises
St Peter's Barge office
St Peter's Barge ministry costs
Equipment maintenance
Bank charges
Depreciation
**Total expenditure**|2020
£
260,813
-
50,099
310,912
2020
£
89
132
220
2020
£
143
143
2020
£
191,544
23,504
5,176
22,935
243,159
2,484
7,209
7,202
3,109
5,157
3,900
492
19,419
48,973
292,131|2019
£
238,740
951
44,168
283,859
2019
£
19,971
-
19,971
2019
£
330
330
2019
£
194,757
27,451
33,850
22,853
278,911
1,507
8,309
30,157
8,125
3,297
992
558
20,325
73,270
352,181|
|---|---|---|
The fee payable to the independent examiner for examining the 2020 accounts is £1,550 plus VAT (2019: £1,050 plus VAT)
Analysis of staff costs, the cost of key management personnel and trustee remuneration and expenses
|Gross wages and salaries
Social security
Pension costs
Other employment benefits
Total|2020
£
88,663
7,558
20,008
75,315
191,544|2019
£
106,229
4,940
6,905
76,683
194,757|
|---|---|---|
The average monthly number of employees during the year was 4 (2019: 4). Most of the charity's activities are carried out by volunteers.
9
No staff received salaries at a rate of more than £60,000 per annum
No trustees received employment benefits in either the current or proceeding year
Total employment benefits payable to key staff members for the year were as follows:
|Wages and salaries
Accomodation
Life insurance
Pension
Employer NIC
**Grants payable**
Grants for UK and overseas mission
Grants for the relief of poverty
The comparatives for the previous year are as follows:
Grants for UK and overseas mission
Grants for Grace Church Greenwich
Other
The charity's principal grants to institutions comprised:
Crosslinks
Gospel centred churches in the UK
Christ Church Soweto
Grants to institutions for less than £1,000 each|Institutions
£
21,260
-
21,260
Institutions
£
23,650
951
500
25,101|2020
£
27,600
31,200
762
10,000
2,300
Individuals
£
2,000
244
2,244
Individuals
£
2,250
-
-
2,250
2020
£
9,825
9,000
2,435
-
21,260|2019
£
27,048
31,200
747
10,000
2,254
2020
£
23,260
244
23,504
2019
£
25,900
951
500
27,351
2019
£
13,950
9,700
-
1,451
25,101|
|---|---|---|---|
## **c Grants payable**
## **7 Tangible fixed assets**
|Cost [or valuation]
At 1 January 2020
Additions
Gains / (losses) on revaluation
Disposals
Policy change impact
At 31 December 2020
Accumulated depreciation
At 1 January 2020
Charge for the year
Eliminated on disposal
Policy change impact
At 31 December 2020
Net book value
At 31 December 2020
At 31 December 2019|Barge &
Refurbishment
£
388,389
-
-
-
388,389
302,261
19,419
-
-
321,680
66,708
86,128|Leasehold
Improvements
£
-
-
-
-|Fixtures,
fittings and
equipment
£
47,455
(47,455)
-
44,367
(44,367)
-
-
3,088|Vehicles
£
-
-
-
-|Total
2020
£
435,844
-
-
-
(47,455)
388,389
346,628
19,419
-
(44,367)
321,680
66,708
89,216|
|---|---|---|---|---|---|
In 2020 the Trustees agreed to change the accounting policy around fixtures and fittings and only capitaise those when the cost of purchased items, or the fair value of donated items, is more than £500 and the item is expected to benefit the charity over more than one accounting period. All fixture and fitting items which did not meet the new accounting policy regarding capitalisation were written off in 2020.
## **8 Book Stall Stock**
Books purchased for re-sale, at cost
## **9 Debtors**
**Falling due within one year:** Tax recoverable Rent deposits Prepayments and accrued income
|2020
£
166
166
2020
£
15,889
7,331
4,698
27,918|2019
£
-
-
2019
£
28,910
7,283
3,175
39,368|
|---|---|
10
## **10 Cash at Bank and in Hand**
|Cash at bank with immediate access
Petty cash
**itors: liabilities falling due within one year**
Taxation and social security
Accruals
Loans
**itors: amounts falling due after more than one year**
Loan - Great St Helen's Trust|2020
£
241,791
87
241,878
2020
£
3,007
4,955
10,000
17,962
2020
£
41,763
41,763|2019
£
191,945
41
191,986
2019
£
2,841
8,165
6,250
17,256
2019
£
45,513
45,513|
|---|---|---|
## **11 Creditors: liabilities falling due within one year**
## **12 Creditors: amounts falling due after more than one year**
No interest is payable on the loan and there is no repayment date set. The amount will be repaid if, and only if the trustees are of the view, that there are sufficient reserves to meet the other obligations of the Trust and to effectively fulfil the objectives of the Trust.
## **13 Funds**
During the year the movements in the charity's funds were as follows:
|_Designated Funds_
_General Unrestricted Funds_
Total Unrestricted Funds
_Restricted Funds_
Barge music equipment
Christmas food bags
Aggregate of funds|Opening
balance
2020
£
-
256,601
256,601
1,200
-
1,200
257,801|Incoming
resources
2020
£
-
308,735
308,735
-
-
2,540
2,540
311,275|Outgoing
resources
2020
£
-
(289,926)
(289,926)
-
(2,206)
(2,206)
(292,132)|Transfers
in the year
2020
£
-
-
-
-
-
-
-|Gains and
losses
2020
£
-
-
-
-|Closing
balance
2020
£
-
275,410
275,410
1,200
334
1,534
276,944|
|---|---|---|---|---|---|---|
## **Analysis of net assets by fund**
The assets and liabilities of the various funds were as follows:
|Tangible fixed assets
Stock
Debtors
Cash at bank and in hand
Creditors falling due within one year
Creditors falling due after one year|General
funds
£
66,708
166
27,918
240,344
(17,962)
(41,763)
275,410
Unrestrict|Unrestrict|Designated
funds
£
-
-
-
ed Funds|Restricted
funds
£
-
1,534
1,534|2020
£
66,708
166
27,918
241,878
(17,962)
(41,763)
276,944|
|---|---|---|---|---|---|
11
In the previous year the movements in the charity's funds were as follows:
|_Designated Funds_
_General Unrestricted Funds_
Total Unrestricted Funds
_Restricted Funds_
Barge music equipment
Aggregate of funds|Opening
balance
2019
£
-
304,522
304,522
1,300
1,300
305,822|Incoming
resources
2019
£
-
303,129
303,129
1,031
1,031
304,160|Outgoing
resources
2019
£
-
(351,050)
(351,050)
(1,131)
(1,131)
(352,181)|Transfers
in the year
2019
£
-
-
-
-
-
-|Gains and
losses
2019
£
-
-
-
-|Closing
balance
2019
£
-
256,601
256,601
1,200
1,200
257,801|
|---|---|---|---|---|---|---|
## **Analysis of net assets by fund**
In the previous year, the assets and liabilities of the various funds were as follows:
|Tangible fixed assets
Stock
Debtors
Cash at bank and in hand
Creditors falling due within one year
Creditors falling due after one year|General
funds
£
89,216
-
39,368
190,786
(17,256)
(45,513)
256,601
Unrestrict|Unrestrict|Designated
funds
£
-
-
ed Funds|Restricted
funds
£
1,200
1,200|2019
£
89,216
-
39,368
191,986
(17,256)
(45,513)
257,801|
|---|---|---|---|---|---|
The Barge Music Equipment Fund holds monies raised in previous years specifically for expenditure on music equipment for use on the barge. The Christmas Food Bag Fund holds monies raised in 2020 for use in creation and distribution of Christmas food bags for those in need in the local area.
## **14 Commitments**
The charity has an operating lease for its photocopier and a five year mooring lease from October 2018 to September 2023 with Canal River Trust.
## **Non-cancellable operating leases**
|Photocopier lease
Mooring lease|2020
£
581
20,400
20,981|2019
£
3,560
20,400
23,960|
|---|---|---|
During the year the charity was charged £662 (2019: £718) for its operating lease. The annual commitment is in respect of a five year mooring lease from October 2018 to September 2023 with Canal River Trust.
## **St Peter's accommodation**
|Accommodation for the Ministers of St Peter's|2020
£
64,100
64,100|2019
£
64,800
64,800|
|---|---|---|
The annual commitment is in respect of:
(i) a one year lease with a private landlord which commenced in October 2016, and is renewed annually in October;
(ii) a one year lease with the Great St Helen's Trust which commenced in October 2015, and is renewed annually in October;
(iii) a one year lease with a private landlord which commenced in July.
## **15 Transactions with related parties**
During the year the charity:
- a) received donations totalling £6,150 from related parties (which includes trustees, any other members of key management and anyone closely connected to them).
- b) Brian O'Donoghue and Andrew Neden are trustees of The Great St Helen's Trust Limited. The Great St Helen's Trust advanced loans to the Company and the outstanding balances at the balance sheet date are £51,763 (2019: £51,763).
- c) St Peter's rents property from the Great St Helen's Trust and paid £17,400 to Great St Helen's Trust for rental of a property used to provide accommodation for a staff member. The lease agreement commenced in October 2015 and was renewed annually. The lease was terminated in June 2021.
Note 6b 'Analysis of staff costs' discloses the salaries and employment benefits for key members of staff
12
## **16 Reconciliation with previously reported funds**
During the year the charity identified a non material error in the results reported previously. The error was in relation to prepaid expenditure for 2020 which was originally fully expensed in 2019.The comparatives presented in these accounts have been re-stated so that they reflect a correction of the error and a reconciliation with the reserves and results reported previously follows:
_Reconciliation of reserves_
|Previously reported reserves, at 31 December
Adjustments arising from correction of an error in the previous period:
Prepayments and accrued income
Re-stated reserves, at 31 December
Previously reported results
Adjustments arising from the correction of an error in the previous period:
Staff costs
St Peter's Barge activities
St Peter's Barge ministry costs
Re-stated results
_Reconciliation of results_|2019
£
256,326
1,475
257,801
2019
£
(49,496)
340
616
519
(48,021)|2018
£
305,822
-
305,822|
|---|---|---|
## **17 Events After the Year End**
St Peter's Barge have purchased a property to provide accomodation for a staff member. The purchase was completed in September 2021. £70,000 from the Barges unrestricted funds were used in the purchase.
13
## **ST PETER'S CANARY WHARF TRUST**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES WITH COMPARATIVES**
## **FOR THE YEAR ENDED 31 DECEMBER 2020**
|Note
**INCOME AND ENDOWMENTS FROM:**
Donations and legacies
3
Charitable activities
4
Investments
5
**Total income and endowments**
**EXPENDITURE ON:**
Charitable activities:
6
**Total Expenditure**
**Net income/(expenditure)**
**Transfers between funds**
13
**Other recognised gains/(losses):**
Gains/(losses) on revaluation of fixed assets
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**
13||General
2020
£
308,372
220
143
308,735
289,925
289,925
18,810
-
18,810
18,810
256,601
275,411|Unrestricted funds|Designated
2020
£
-
-
-
-
-
-
-
-
-
-
-|Restricted
2020
£
2,540
-
-
2,540
2,206
2,206
334
-
334
334
1,200
1,534|Total
2020
£
310,912
220
143
311,275
292,131
292,131
19,144
-
19,144
-
19,144
257,801
276,945||General
2019
£
282,828
19,971
330
303,129
351,050
351,050
(47,921)
-
(47,921)
(47,921)
304,522
256,601
Unrestric|Designated
2019
£
-
-
-
-
-
-
-
-
-
-
-
-
ted funds|Restricted
2019
£
1,031
-
-
1,031
1,131
1,131
(100)
-
(100)
(100)
1,300
1,200|Total
2019
£
283,859
19,971
330
304,160
352,181
352,181
(48,021)
-
(48,021)
-
(48,021)
305,822
257,801|
|---|---|---|---|---|---|---|---|---|---|---|---|
14