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2021-12-31-accounts

PAROCHIAL CHURCH COUNCIL OF

ALL SAINTS’ WITH ST ANDREW’S

ANNUAL REPORT AND FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2021

ALL SAINTS’ WITH ST ANDREW’S

I N D E X

Year ended 31 December 2021

Page
Vision statement 2
Report of the Parochial Church Council
Legal objects and function 3
Strategic aims 3
Objectives and activities 4
Achievements and performance in the year 7
Future plans 11
Financial review 13
Principal risks and uncertainties 16
Structure, governance and management 18
Trustees’ responsibilities 20
Administrative details 21
Independent auditors’ report 24
Statement of financial activities 27
Balance sheet 28
Cash flow statement 29
Notes to the financial statements 30

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ALL SAINTS’ WITH ST ANDREW’S

R E P O R T O F T H E P A R O C H I A L C H U R C H C O U N C I L

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Vision Statement Our vision: to see Jesus at the centre of every life, every marriage, every family, every and workplace, every community every nation. We understand this to express the fundamental Christian belief that Jesus Christ is Lord of heaven and earth and all things and activities within them. All Saints’ with St Andrew’s is a community of people in mission obeying the call of God to proclaim the Gospel in word and deed through the power of the Holy Spirit, so that this vision is fulfilled.

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R E P O R T O F T H E P A R O C H I A L C H U R C H C O U N C I L

Year ended 31 December 2021

The Parochial Church Council (PCC) of All Saints’ with St Andrew’s presents its annual report, together with the audited financial statements, for the year ended 31 December 2021. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (Financial Reporting Standard 102 (FRS 102)) in preparing the annual report and financial statements of the charity.

LEGAL OBJECTS AND FUNCTION

Our objects: All Saints' with St Andrew's principal object is to promote, in the Ecclesiastical parish of Woodford Wells, the whole mission of the Church.

Our function: The PCC is the body of Trustees whose main function is to co-operate with the Vicar in promoting that whole mission - pastoral, evangelistic, social and ecumenical. It also has statutory responsibility for the care and insurance of church buildings and property, for keeping proper financial records and for a range of other statutory matters, including health and safety procedures relating to employees, volunteers and visitors.

STRATEGIC AIMS

The PCC's strategic aims are developed and expressed as mission aims against the backdrop of values and a theological framework established over many years.

Our values: Recognising the love of God for all people and his commitment to His church, the PCC and the whole church community aim to respond with whole-hearted commitment to the Lord Jesus. Our values are:

Theological framework: Our church family believes people matter to God and seeks to serve our local community irrespective of their beliefs or response. The church endeavours to present the Gospel of Christ in word and deed in the belief that all people need to know Jesus for themselves. The church also believes that most people are likely to become disciples of Jesus if church members live a Christ-like life amongst them, share the good news of Jesus, demonstrate God’s love and prayerfully expect the Holy Spirit’s power to transform individuals, communities and whole nations.

All Saints’ has become a Resource Church in the Diocese and lies at the centre of The All Saints’ Minster (“the Minster”), a Mission and Ministry Unit (“MMU”) comprising the two churches of our own parish, together with the parishes of St Cedd’s Barkingside, St Paul’s Hainault, All Saints’ Highams Park, and Holy Trinity South Woodford (from January 2020). In addition, we are responsible for the oversight of the church plant at Barking Riverside. All Saints’ with St Andrew’s is also a member of the Evangelical Alliance and has a long standing relationship with New Wine, a Christian organisation that pursues similar objectives in the UK and overseas. We also have a relationship with Westminster Theological Centre (WTC) and act as a training hub for the delivery of some of its theological education programmes and courses.

Our mission : The PCC's aim is that the church be a worshipping community which encourages all members to live a mission lifestyle, to share resources for mission work, and to direct ourselves to bringing Jesus to the centre of every life, marriage, family, workplace and nation.

In order to achieve these aims the PCC has developed a mission strategy for attaining its vision for the future. Although we meet in different congregations and in different church buildings the church community aims to be one worshipping community, sharing vision and values with Jesus at the centre.

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Within the life and activity of the church and in the resourcing and development of the Minster, our mission aims are expressed in four ways:

Presence : Jesus is brought to the centre of individual and corporate life when Christians live side by side with others, sharing their struggles and joys and building relationships of trust. In the context of these trusted committed relationships, faith can be shared at many different levels and the love of God perceived by people through Christian words and deeds.

Proclamation : Jesus is brought to the centre of individual and corporate life when Christians give voice to the Gospel - the Good News of Jesus Christ. As a church community we encourage, teach and celebrate the sharing of the Gospel both in personal testimony and through the use of creative arts.

Practical ministries : Jesus is brought to the centre of individual and corporate life when Christians demonstrate the transforming power of the Gospel through practical service and action in society. This might happen through the political process, through the charitable sector, in education or health, in partnership with local government or through expressions of kindness and care on either an individual or group level. In each case the intention is making real the transforming power of God’s love amongst his people.

Power of God : Jesus is brought to the centre of individual and corporate lives when Christians allow the power of God to confront the evil principalities and demonic powers of this current age. This might happen through ministries of deliverance and personal renewal, through peace and reconciliation ministries, through the prayerful transforming of communities in intercession or through the working of the redemption of unjust structures in society. In each case the victory of God in Christ over every form of evil is made evident in people’s lives for their blessing and benefit.

OBJECTIVES AND ACTIVITIES

Our activities : When planning activities for the year, the Vicar and the PCC consider the Charity Commission’s guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion. The PCC looks to its principal object and strategic aims to give structure to the activities and the objectives it sets.

Strategic priorities : In the light of on-going review and reflection by the staff and PCC, our strategic priorities continue to be on marriage and family ministry, youth and children’s work, evangelism and social action, all in the context of the evolving Minster where the PCC looks both to the immediate parish and to the resourcing of these ministries in other places.

Other key emphases : The strategic priorities and four expressions of Christian life and mission described above have led the PCC and staff to the following points of emphasis:

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Through carrying out these objectives and in promoting the whole mission of the church (pastoral, evangelistic, social and ecumenical) the PCC is confident (having had regard to Charity Commission guidance) that it delivers public benefit through community engagement, is a resource for the wider church, and supports those in need both spiritually and physically.

Parochial Ministry

The development and maintenance of a strong worshipping Christian community is achieved through the teaching in the church and online, both on Sunday and midweek, and also by running courses at a small group level to address particular aspects of Christian living. Staff members oversee the content of Sunday and other online services with significant lay involvement. Midweek courses are run by both staff and lay people with the main emphasis being on involvement in the small group life of the church. Small groups provide a significant structure for on-going pastoral care with crisis pastoral care being provided through the staff and pastoral team and through various specialist pastoral ministries of counselling and bereavement care.

To enable this to be sustained, the following activities are undertaken:

Much of the work is done privately, without recognition and by volunteers, and the hours and value of that time cannot be quantified.

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Parish Share

The PCC makes a voluntary contribution to the Diocese of Chelmsford’s Parish Share Scheme, which is used to meet the stipendiary cost of ordained ministry and central diocesan support structures. In return, the stipends and employment costs of most of our stipendiary clergy are borne by the national Church. The PCC aims to pay in full the contribution allocated to it through the MMU process.

Grants

Individuals continue to go out from the community of All Saints' with St Andrew’s to serve God in other parts of the world. The PCC aims to maintain a level of giving to missions, giving agencies and individuals, both at home and overseas, whilst continuing our financial contribution to mission through the Parish Share Scheme.

External Ministry

The church community exists to proclaim the Christian gospel and serve others. The PCC places a strong emphasis on outreach and community engagement. This continues through Life Events (baptisms, weddings, funerals), through the church’s service to the community and through individual Christian witness. Encompassed within church outreach is such work as community social action projects and events, church courses that explain the Christian faith, and courses which equip people with skills to enhance marriage, family life and community life. In particular, the PCC enables the staff and church community to engage in the following activities (subject to all relevant legislation and public health guidance):

Serving the spiritual needs of the local community and church family at significant times in their lives.

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As part of the “New Wine” network of churches and leaders, we operate as a resource for other churches, sharing what we are learning from God through worship, teaching and prayer ministry. This finds expression in a range of conferences, network meetings and mentoring gatherings.

Resourcing the MMU

The PCC enables the development of ministry and mission across the Minster by the sharing of financial resources, facilities and people, including staff and lay members.

ACHIEVEMENTS AND PERFORMANCE IN THE YEAR

2021 has been an extraordinary year, marked by another year of the Covid-19 pandemic and the consequent restrictions. This led in the previous year to a significant reduction in activity onsite and an explosion of online activity, however we have begun to see a recovery towards a new normal. Activity and attendance levels have not yet returned to pre-pandemic levels, but there are positive signs. Whilst many volunteers will not have been able to contribute their time in the normal manner, others (especially in the staff team) have been busier than ever, often in roles where new skills have had to be learned. We cannot emphasise how grateful we are for these contributions.

Volunteers

The PCC and wider church community remains grateful for the unstinting efforts of its volunteers, though these have been greatly affected by the pandemic as noted above. Ordinarily over 200 people would have provide services to the church during this financial year. Opportunities for volunteering were significantly reduced in 2021 due to the pandemic but the church continued to enjoy wide ranging voluntary support. The number of hours of service provided and their value to the church cannot be estimated or quantified. We are also dependent on the leadership provided by members of the church staff team.

Staff team

As ever, there have been a significant number of changes within the staff team. Gareth Dicks , our Associate Minister, left in July in order to take on a new challenge to plant a church from St Peter’s Farnborough. The PCC decided that, with the current clergy staffing level and with the uncertainty of parish finances during the pandemic, he would not be replaced at this time.

In August we were pleased to welcome Sam Voyle as our new Children’s Pastor, in succession to Sophie Weller who is now serving her curacy in Harlow. Sam came to us from Moorlands College and having served for a number of years at St Mary’s Longfleet, Poole, as well as at New Wine summer conferences. Sadly, he decided after a few months that full time ministry was not for him at this point in his life and resigned with effect from the end of February 2022. With Fiona Green continuing Maternity Leave (returning to work in May 2022), it was therefore extremely fortuitous that we were able to offer an extended term to Charley Mackrill who is now supporting the children’s work and her new contract runs through to August 2022. We continue to seek a full-time children’s pastor.

We continue to be ably served by a great team in the parish office. Ken MacGregor continues as our Director of Operations, however he has begun to work fewer days, with effect from January 2022, in order to establish a better work-life balance. Following some reorganization after the departure of Debbie Hobbs in 2020, Natalie Cope was confirmed as Operations Manager, working closely with Fiona Weaver , who has also taken on more senior responsibility. Liz Harwood and Claudia Williams have been joined by Issy Williamson (graphic design and social media) and Hannah Rugg (operations assistant). Fiona Weaver has moved on to a role in a local school from March 2022. We are also currently seeking to recruit a Director of Church Life.

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Looking ahead Revd. Thom Jee will complete his curacy with us in May 2022 and we are delighted that he has been appointed to serve as vicar of Emmanuel Church Guildford. He will be replaced as curate by Revd. Marcus Giddy in July 2022.

The past year has continued to present challenges in the areas of tech and communications. Many of the church services and special events are now also live-streamed or otherwise online, including a growing amount of material that needs to be filmed, edited, and uploaded. This was especially important for our Christmas services and outreach, much of which had to be presented for access online at very short notice. We note, however, that online access to church services is now expected by many people as a continuing feature of church life, and the number of views shows that this is a significant outreach and pastoral provision. Martin Donovan has been supported by Leon McBride and Bob Darby , both part-time, but we recognise that we are still heavily reliant on volunteers in what is often a skilled role. Tarun Sundersingh continues to be a great asset with our filming and editing, but as a volunteer, having left his staff position for a new job at Great Ormond Street Hospital.

Helen Morris is now fulltime Pastoral and Prayer Co-ordinator and has continued to build on the pattern of online prayer meetings started during lockdown. She is also overseeing our pastoral support of the church family, working closely with the Pastoral Team (under Mark Castleton), Counselling Team (under Lin Button), and Hardship Fund committee. There have been increasing demands on all of the above areas as a result of the lockdown.

At the beginning of November, we were delighted to be able to re-open the Atrium Café, initially only for Monday to Thursday mornings. In Becca Lyons we have a new manager who has a real heart for the community as well as great skills and background as a barista and café bar manager. It is good to see the clientele slowly returning and we hope to extend the opening hours to include Fridays as soon as practical in 2022.

Continuing our recent practice of retaining Interns in more senior roles, Brevin Shariati was appointed to a one-year post as Worship and Facilities Assistant. Brevin has made a big contribution to our worship, especially since there has been the need to provide more tech support for online engagement, which has placed much greater demands on Martin Donovan.

We continue to find it difficult to recruit a Choir Director . Recruitment for this position remains on our agenda. In the meantime, we remain grateful for the leadership of Bill Cumber, David Sutton, Rachel Whitelegg, Marcus Schofield and others, who have ensured that the choir remains in good heart. With the return to gathered worship services, the technical team have worked hard to ensure that we continue to have the option of Zoom for the 9.30am service. This is greatly appreciated by those who are unable to attend in person.

Celebrations and special events

We continue to believe that we should invest in conferences and celebrations which feed not only our own members but those from the surrounding area. In the past we have hosted conferences for the Diocese, for Lin Button ’s Healing Prayer School, and a number of local events for New Wine . In 2021 these were significantly impacted by the pandemic, although some were able to find an online expression. It is likely that the difficulty of running events and celebrations will continue into 2022, but there is genuine hope that we might again start to gather.

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External giving

Now that Parish Share is calculated and devolved to the MMU, All Saints’ is able to directly support parishes within the Minster. We have, in addition, made a contribution to the wider Diocese, above and beyond covering our own MMU’s costs. We were also able to maintain support for mission agencies and individuals sent out in mission and were delighted with the response to the various gift days, despite concern with the national economy and peoples’ personal circumstances. The generosity of the church family continues to be seen in an amazing response to the Planned Giving scheme, which helped offset the financial effects of lost income through the pandemic. In addition, there remains a steady and generous stream of giving into the parish “Hardship Fund” (offering support to those who are struggling in these hard times).

Transforming presence

The All Saints' Minster continues under Paul Harcourt’s leadership. The staff team continue to develop ways to work together effectively and lead a unit comprising seven churches across six parishes.

We remain convinced that this is an exciting model for the re-evangelisation of the local area, including our own parish, and we hope that all six parishes in our minster will flourish. We have been grateful for the leadership of Gary and Alison Wilson as community and mission pastors at St Cedd’s Barkingside (under Paul Harcourt’s incumbency as Priest-in-Charge), but they retired in November 2021 and, given the reduction in stipendiary clergy in this diocese, will not be replaced. This is also the case for Ken Ashton at St Paul’s Hainault, who retired at the end of February 2022. A large part of our energies as a Minster team is now going into the challenge of supporting the life and ministry of St Cedd’s and St Paul’s without stipendiary clergy in place. There is a great sense of team developing, with Sarah Clarke-Moisley and a new team stepping into leadership in Hainault, and Malcolm Porter at All Saints’ Highams Park, Sam and Anna Pollard at the now fully established Church at Barking Riverside, and Abi Todd at Holy Trinity South Woodford leading in our other churches. Creating a “pipeline” of leadership development to sustain and extend ministry and outreach is a major challenge for the years ahead. This will have to include lay leadership in a new way, rather than being reliant on stipendiary clergy. We hope that All Saints’ will be involved in the “Myriad” pilot scheme for the Church of England, which aims to equip parishes for these new patterns.

Interns, youth and children’s work

We continue to run the New Wine Discipleship Year, and in partnership with the Diocese administer the Interns and Discipleship scheme which enables churches that are financially unable to support interns to experience the benefits of this significant training and development initiative. Thom Jee continues to be involved with the NWDY, but David Baker has now taken the leading role. For the year 2021-22, again we have seen that few churches are taking on interns because of the pandemic, however we have four students based at All Saints’ and St Andrew’s, together with one other based at Holy Trinity South Woodford, and another coming to us from Harlow. Nevertheless, the scheme is strong, although it appears unlikely that we will be able to offer an overseas mission trip in this academic year. The calibre of speakers and of training continues to be high and makes this a significant contribution to the wider Church and development of younger leaders.

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Theological training

The Westminster Theological Centre local hub continues and is a significant resource for the wider church. Robbie Joiner continues as our Hub Director, and the feedback from the students is very positive. There was another dip this year in the number of students, with several applicants dropping out in the last week before term started. To address this, recognising the impact of the pandemic makes this more challenging again, we had split the Hub Director role from Dec 2020 and recruited Jessie Baker as a Hub Partnership Manager to focus especially on marketing and student recruitment. Sadly, she decided that the role was not right for her, and we are considering what the future holds for the WTC Hub. As well as the general benefit of continuing theological education, we see the hub as significant in developing leadership for our future mission plans.

Major festivals

Both Easter and Christmas services were severely affected by the pandemic, but the teams worked tirelessly to ensure that they could be celebrated well, in person and online. These services were much appreciated by both the congregation and wider community. Acknowledgement should be made of the large number of people who offer their gifts and skills to make these events so successful, with the Christmas celebrations particularly being an excellent example of us working together as a church across the different services.

New Wine

All Saints’ with St Andrew’s continues to play a major role in the New Wine movement with large numbers of people from the church community both attending and working on team at conferences both in this country and abroad. Paul Harcourt is the national leader of New Wine, committing on average three days a week to that role. Paul continues to lead the North-East London local network, based at All Saints’. We continue to host other leadership gatherings, training days, and worship events for New Wine. New Wine makes a donation in support of the general ministry of All Saints’ Woodford Wells (ASWW). The church’s life and influence continue to be enriched through our involvement in New Wine.

Like the church, New Wine has had to move much activity online because of the pandemic. Paul and Becky were involved in leading another “United Breaks Out” online conference in August, and many members of the church family were able to engage with this.

Site activity

As noted above, site activity was, at points, largely suspended because of the pandemic restrictions. As these restrictions have been eased and removed, we have seen site activity begin to return towards previous levels, However, we recognise that many of our own church activities are heavily dependent on volunteers, and recruiting people back into weekly service is proving slow.

Outreach

Clergy and staff have continued with the regular church outreach but moving largely online. In recent years the team has experimented with new ways of delivering the material within the “Alpha Course”, using the “Life Course” version of the course developed at St Mary’s Bryanston Square, however the pandemic has made it more sensible to move back to using the professional produced online Alpha talks. One advantage is that courses can be led by anyone at any time, so we have taken the strategic decision to focus on training people to run their own courses rather than provide a central version. There have been extremely encouraging results in terms of new adult conversions. In January 2022, we launched a Bereavement Course for the first time in recent years.

Prayer ministry is offered in person as well as through our online services and has been greatly appreciated.

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Mission connections

The PCC continues to maintain the parish's historic commitment to the Mission Agencies and Societies with which we have links, and people have continued to be sent out from All Saints’ and St Andrew’s on shortterm mission work. The church link with the Diocese of Taita Taveta in Kenya remains strong, as do our links to South America and Egypt through Church Mission Society (CMS).

Creation Care

The growing awareness of the climate emergency prompted a thorough review of our stewardship of resources in 2019. A full sustainability audit was held which resulted in several areas of improvement which have been implemented by the staff team. In addition, we have engaged in initiatives to involve and inform the congregation such as the promotion of “keep cups”, new recycling bins for disposable and biodegradable coffee cups, “car free Sunday”, and replacing our historic “Toy and Gift” day with a financial offering so that we can improve efficiency and reduce waste by enabling the supported charities to purchase only what is needed. Our tea and coffee in church is all Fairtrade-certified and we have Fairtrade accreditation as a church. Creation Care is an important aspect of our discipleship and remains under review.

FUTURE PLANS

The PCC continues regularly to review all aspects of the church’s life, having engaged with the Archdeacons’ “PCC Health Check” document as part of Re-Imagining Ministry initiative of the Diocese.

The five priorities of our future development remain:

The pre-pandemic Sunday attendance (in the first two months of 2020) typically fell in the 600 - 650 range. It is hard to quantify numbers since we have moved to a ‘hybrid’ model of services which are both online and in person. Nevertheless, our analysis of data for our livestreams, recordings and zoom services show that many members of the church family have faithfully continued to connect with the worshipping, prayer, fellowship, and discipleship life of the church. Some people may have fallen out of the habit of church engagement since 2020, but in-person attendance has returned to previous levels in most services, with the exception of our 11.15am service (about two-thirds of previous attendance) but at which many people are new to the church since lockdown began. Regathering people remains a major focus, and there is also a great need to welcome and assimilate newcomers into the church family.

The PCC and staff remain focused on growing attendance across the MMU. Within All Saints’ we look specifically in five areas:

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Challenges

We continue to face challenges in the coming year because of the impact of the pandemic. Finances are currently healthy, but we know that the economic impact of lockdown, energy costs and other inflation are only now beginning to be fully felt. Rebuilding activity to sustainable and supportable levels will need to be judged carefully. New patterns will have emerged during this time in the way that we meet with each other, and as noted previously we cannot assume that all will want to re-engage with our church life as they did before.

There are increasing opportunities for mission, both through our existing Church ministries and in our own personal lives. The emphasis on personal evangelism needs to continue. The recognition that we are a “Resource Church” for the Diocese underlines the need to develop, deploy and support what the previous Bishop referred to as “Apostolic Teams”, who will be able to plant and grow new churches or revitalise existing congregations. This is a challenge for the whole congregation, not only those who are specifically called and sent out. Developing a new pipeline of leaders, extending this not only to the lay staff but also to wider lay leadership, present and potential, will be a major feature of the coming season, especially with the reduction in stipendiary clergy.

We continue to reflect on the ways that the pandemic provided an opportunity for us to listen to God and be shaped for the new situation in the years to come. Our sense is that the following are part of this development:

The PCC continues to monitor the salaries paid to our employed staff with suitable benchmarks; the PCC recognises that this is an ongoing challenge.

Planned events

With the easing of Covid-19 restrictions still recent, we currently have no firm plans for major events.

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FINANCIAL REVIEW

Financial Performance

Operating Activities

2021 Actual 2021 Budget 2020 Actual
Income 900k 860k 952k
Expenditure (923k) (927k) (946k)
Surplus / (deficit) (23k) (67k) 6k

The 2021 operating activities budget for the parish, approved by the PCC, was to make a £67k loss before any transfer from the Mary Lee fund to cover expenditure on the upkeep and the fabric of All Saints’. The actual result was a £23k loss (£23k loss for All Saints’ and breakeven for St Andrew’s), from £900k income and £923k expenditure.

The activities of the church are principally funded by tax efficient giving by church members. The actual planned giving income, including income tax recoverable, decreased by £13k from £751k in 2020 to £738k in 2021, a modest decrease of 1.7%. In 2021 planned giving accounted for 82% of operating income (79% in 2020).

The PCC is both delighted and thankful that the church family responded so faithfully to the challenges of 2021, especially in the second year of the pandemic where economic uncertainties abounded.

At different times during the year two members of staff were furloughed, and as a result, a £8k grant (2020 - £44k) was receivable from the Coronavirus Job Retention Scheme.

Unsurprisingly income from charitable activities, continued to be well below pre-pandemic levels. In 2021 charitable activities income, excluding income received from the Coronavirus Job Retention Scheme, was £127k (2020 - £126k), 50% lower than in 2019.

As the effects of the pandemic continued to restrict activities staff reduced in many areas, for example posts were vacant in the office, atrium and children’s work, as well as the mid year departure of Revd. Gareth Dicks. Staff costs, therefore, decreased by £83k from £394k in 2020 to £311k in 2021, a 21% reduction. Church maintenance and repairs were £21k higher in 2021 than 2020 due to the work on the west wall. Site maintenance costs and utility costs were also higher due to boiler repairs and price rises.

In the general operating activities expenditure £83k of costs were in respect of the upkeep and the fabric of All Saints’, so a transfer of £83k could have been made from the Mary Lee Legacy fund to the All Saints’ general operating activities fund to cover the expenditure. The actual transfer made was £13k, which covered the piano depreciation and camera equipment for online worship. The remaining £70k was not transferred as the general operating activities fund had sufficient to cover it, thereby conserving the Mary Lee Legacy fund for future years.

Over the last five years the church has also benefited from the receipt and notification of generous bequests from former members of the congregation. In the 2020 financial statements £220k was anticipated to be received from the estate of the late Jean Skelton. The actual amount received in 2021 was £228k.

Details of the movements on the general, designated and restricted funds are shown in note 16.

The main movements on designated funds are £7k expended at Holy Trinity South Woodford and £4k of depreciation in respect of the Connect project.

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The restricted funds have reduced slightly from the opening balance. The movements include £14k reduction on the Parish Hardship fund and a £11k increase to the Church at Barking Riverside funds.

2022 Budget
2022 Budget 2021 Actual 2020 Actual
Income 915k 900k 952k
Expenditure (992k) (923k) (946k)
Surplus / (deficit) (77k) (23k) 6k

The parish budget for 2022 is to make a £77k loss on operating activities, before any transfer from the Mary Lee fund to cover expenditure on the upkeep and the fabric of All Saints’ (which is expected to be around £50k). The budgeted deficit is split £3k loss for St Andrew’s and £74k loss for All Saints’, before the Mary Lee fund transfer.

The budget assumes that onsite activities continue to increase. Income from charitable activities is budgeted to be £50k higher than achieved in 2021, but still £65k below 2019. A realistic view of anticipated planned giving and collections income has been made, given the current economic uncertainties and recognising that a level of one-off giving in the last two years was in part a response to the pandemic.

The budget assumes that staff costs will increase by £45k to meet the requirements of the increased onsite activity and that utility costs will be £31k higher as a result of the increased onsite activity and price increases.

We acknowledge the need for the continuation of our Stewardship Campaign to encourage new and existing members of the church to commit to regular giving in a tax efficient manner.

Balance sheet position

The net assets at the balance sheet date totalled £3,112k (2020: £3,130k). Included in this figure are two general fund residential properties totalling £1,350k. Of the remainder £915k is held in restricted funds (of which £680k is represented by a further residential property), leaving £847k in unrestricted funds. Within unrestricted funds £44k is designated and £803k is general. The designated and restricted funds include £18k and £20k respectively, in the Development and Maintenance Depreciation fund, held as fixed assets, which will be used over the next 5 years as depreciation is charged.

The total cash balance at year end amounted to £1,061k of which £212k is restricted (see note 17) and of the balance £26k is designated leaving £823k available for general unrestricted funds, which is sufficient for 10 months of normal operating activities, based on 2022 budget figures. The general unrestricted funds exceed the reserves policy as the Trustees are seeking to build cash to have sufficient to purchase or extend a property for staff or interns’ use (see below) as well as for operating activities.

The Trustees consider that the operations continue to be viable given the current rate of income and unrestricted funds.

Properties

In 2019 the PCC authorised the Senior Management Team (SMT) to investigate the purchase of a suitable property within the parish, if possible. With the disruption of the pandemic, this plan has not been advanced and alternatives are being considered, including extending one of the existing properties. As a result, the Accrued Legacy fund and the Property Purchase fund have been combined into a new Property fund, standing at £516k as at 31 December 2021.

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Year ended 31 December 2021

Reserves policy

Free reserves

We are a faith community and rely principally on funding from members of the congregation as led by God. It is the PCC’s policy to maintain a balance of available general unrestricted funds in cash and bank accounts (where possible) to equate with 3 months (25%) of annual unrestricted payments, to cover emergency situations which may arise from time to time. This has been achieved at 31 December 2021.

Designated funds

The PCC may designate additional unrestricted funds to be retained for an agreed purpose where this is considered to be prudent. Such designated funds are reviewed on an annual basis and returned to the general unrestricted fund in the event that the purpose of their designation is no longer considered to be adequate justification for their retention. A description of each fund together with the intended use of the fund is set out in note 16. At 31 December 2021 total designated funds were £44k (2020: £57k).

Restricted funds

The PCC holds several restricted funds, totalling £915k at 31 December 2021 (2020: £919k). A description of each fund together with the specified use of the fund is set out in note 16.

Fundraising policy

The PCC has adopted a Fundraising policy which recognises that as a charity we are dependent on the support of the members of our congregation. All regular members of the church are encouraged to participate in a committed manner, through the Planned Giving Scheme, to the general financial needs of the church. This, together with the relevant tax recoveries, is the main source of regular income to the church. We do not use external fundraisers or direct mailing to the general public.

Pay policy

The PCC aims to be recognised as a good and reasonable employer respecting the skills, abilities and personal aspirations of its staff, and seeking to help them to develop their contribution to the effectiveness of the ministry of building the Kingdom within the community. The PCC annually reviews the Pay policy in order to ensure that the pay structure fairly reflects the seniority, experience and responsibilities of its staff. The PCC pays the London Living Wage as a minimum to all staff over the age of 25 on a permanent contract. Employees aged between 18 and 25 will be paid at a rate based on their age rather than the London Living Wage.

Grant making policy

Grants are made to individuals and organisations to promote the fundamental Christian belief that Jesus Christ is Lord of heaven and earth. This involves helping those who are:

In carrying out this objective, the PCC continues to support a variety of societies and agencies with which the church community has a strong personal relationship. Individuals continue to go out from the community of All Saints’ with St Andrew’s to serve God in other parts of the world. Note 3d shows the amounts which have been given to individuals and organisations.

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Year ended 31 December 2021

Investment policy

The PCC recognises the need for good stewardship of any excess cash balances that the church may hold from time to time. The Risk and Governance Committee (RGC) of the PCC is authorised to research and recommend any bank deposit account that it considers suitable for the holding of short-term balances. Any new account recommended by the RGC to the PCC will be authorised by the PCC at one of its meetings. All accounts must be capable of responding within the projected cash flow requirements of the PCC. All accounts operated by the PCC will be with institutions authorised by the Prudential Regulatory Authority and regulated by the Financial Conduct Authority.

The PCC recognises the need to diversify its cash holdings so as to minimise the risk of a bank failure. At the year end the PCC holds funds on deposit with the following banks and financial institutions:

The PCC has asked the RGC to monitor the balances on the above deposit holders and to report to it if the balances held at any of the institutions exceeds £250,000. At present the PCC has agreed to maintain higher cash balances in light of the proposal to purchase an additional property in the future. Whilst it is not currently the policy of the PCC to invest in non-cash assets, the PCC is reviewing the investment policy to enable the possibility of investing in non-cash assets.

Details of the interest received in the year are shown in note 2d.

The PCC also holds three residential properties for staff, which are non-income producing and are not held as investments. Details of these are shown in note 11. As one of the properties is held in a Restricted fund the RGC has recommended, following professional advice, that the General fund makes an internal rental payment of £1.5k per month to reflect the net rental achievable in the open market. During the year £18k was transferred in respect of this arrangement.

PRINCIPAL RISKS AND UNCERTAINTIES

The PCC is responsible for the identification, mitigation and or management of risk. To achieve this, a register of all the risks identified is maintained and, alongside it, a management and mitigation strategy formed. This is subject to review by the PCC on an annual basis with the responsibility for delivery of the mitigation strategies identified by it being delegated to the Churchwardens.

Risks

The risk register identifies four areas where the risk of either failure to act or the impact of the events is considered ‘high’. These areas and the associated mitigation strategies are:

Reduced Income: Reduction in congregational giving

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Year ended 31 December 2021

Safeguarding: Where a child or vulnerable adult may be being abused or mistreated, whether by someone working for or on behalf of the church or in their outside environment.

Key Staff Changes

Catastrophic Building Failure or Major Repairs

Uncertainties

In addition to the risks identified above, the PCC acknowledges that the pandemic and its effects present continuing uncertainties in relation to the church’s operations in 2022. These include whether church members and visitors will return to anything like pre-pandemic patterns of activity and attendance. Whilst the successful programme of vaccination has resulted in the lifting of legal restrictions, patterns of behaviours have changed and a return to pre-pandemic levels of activity could be delayed for some time. It is possible that the increased level of online activity and a consequent reduction in numbers of people attending services in the church building or using the facilities may be permanent. Some changes in church operations triggered by the pandemic, for example

may persist into the future. The PCC has reflected these uncertainties in setting a budget for 2022, including in staff levels, and is confident that its responses mean that the church is well placed to meet these challenges in a sustainable manner.

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Year ended 31 December 2021

Related Party Transactions

The RGC is responsible for monitoring and approving any transactions with related parties (for related party transactions see note 10).

STRUCTURE, GOVERNANCE AND MANAGEMENT

Summary Information about the structure of the Church of England

The Church of England is the established church and HM The Queen is its Supreme Governor. It is organised into two provinces (Canterbury and York) and 42 Dioceses. Each Diocese is a See under the care of a Bishop who is charged with the cure of souls of all the people within that geographical area. This charge is shared with priests within benefices and parishes which are sub-divisions of the Diocese.

The Diocese of Chelmsford is split into three areas - Barking, Bradwell and Colchester - each with an area bishop. These areas are subdivided into archdeaconries and then deaneries. All Saints' with St Andrew's is within the Archdeaconry of West Ham and is the largest church within the Redbridge Deanery, it has formed a MMU of six parishes called All Saints’ Minster.

Organisational structure

All Saints’ with St Andrew’s is part of the Diocese of Chelmsford within the Church of England. Under the provisions of the Charities Act 2006 the parish registered separately with the Charity Commissioners in February 2009. The parish was registered as The Parochial Church Council of the Ecclesiastical Parish of All Saints’ Woodford Wells but throughout the year used its long established descriptive name of "All Saints' with St Andrew's”. The Charity Registration Number is 1128042 and the HMRC Charities Reference Number is X20650. Its governing documents comprise the Parochial Church Council Powers Measure (1956) (as amended) and the Church Representation Rules.

During the year ended 31 December 2021 All Saints’ remained registered as a separate Charity under the Charities Act 2011. Trustees (members of the PCC) are either ex-officio, elected by the APCM or co-opted by the PCC in accordance with the Church Representation Rules.

Title to the property interests of the PCC as at the date of this report are held on its behalf by the Chelmsford Diocesan Board of Finance as Custodian Trustee.

Decision making structure

The PCC meets 10 times a year and the Trustees are supported by the following committees which operate under Terms of Reference approved by the PCC:

Standing Committee Senior Management Team St Andrew’s Committee Risk and Governance Committee Mission Committee Hardship Fund Committee

The roles and operations of the committees are summarised below:

Standing Committee

The Standing committee of the PCC consists of the Vicar, the two Churchwardens, the Treasurer and another elected member of the PCC. There was no requirement for the Standing Committee to meet this reporting year and therefore there was no appointment of an elected member of the PCC.

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Year ended 31 December 2021

Senior Management Team

The SMT carries out the detailed, day to day and routine work of the PCC between PCC meetings. The SMT is accountable to the PCC, and the Vicar reports any significant issues considered by the SMT at the next PCC meeting. The SMT meets usually once or twice a month, as required by the Vicar, who chairs the meetings.

St Andrew’s Committee

This committee supports the Minister in Charge in the running of services in and outreach from St Andrew’s. It is also responsible for managing the St Andrew’s budget within the overall budget of All Saint’s with St Andrew’s as agreed by the Treasurer. It also monitors the use and allocation of any restricted funds given for St Andrew’s. The Minister in Charge makes a regular report at each PCC meeting on the development of ministry at St Andrew’s. The Committee meets 5 times a year.

Risk and Governance Committee (RGC)

The RGC supports the Treasurer in his position and provides oversight on behalf of the PCC on the governance of the church’s activities & finances, its strategy, risk management and the responsibilities of the Trustees of the PCC, including reporting to the Charity Commission and other regulatory bodies. The RGC is chaired by the Treasurer and reports any significant issue to the PCC.

Mission Committee

The Mission Committee reviews and monitors the parish’s missionary links and associations. It advises the Vicar and PCC on the financial support given to our missionaries and organises prayer support linking them to Home Groups.

Hardship Fund Committee

The Hardship Fund Committee, comprising one member of the clergy and 4 lay members, reviews requests for assistance from the hardship fund against its terms of reference and approves grants as appropriate.

The PCC's affiliations with The Evangelical Alliance, New Wine and WTC, whilst important in giving focus to its theological framework, do not impact on the operating policies adopted by the PCC in the day to day management of operations.

The PCC is aware that it remains the responsible legal body for all strategic decisions.

Trustee recruitment, selection and induction

A list of Trustees (PCC members) serving since 1 January 2021 to the date of this report is set out on page 21.

Active church members are nominated either by current PCC members or by other church members for consideration as potential Trustees. Selection is by annual election by church members at the APCM in accordance with procedures set out in the Church Representation Rules. All Trustees have to sign an annual declaration that they are a fit and proper person and that they are not disqualified from serving by the Church Representation Rules as a Trustee. Potential Trustees are required to sign the declaration prior to election at the APCM.

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Year ended 31 December 2021

Newly elected Trustees are introduced into the life of the PCC at the first meeting following their election. An induction meeting is held in which their roles and responsibilities are clearly explained and the PCC is reminded at the beginning of each term of service of their responsibilities as Trustees. Ongoing teaching and training in the purposes of the church and the strategies adopted to pursue them is a feature of most PCC meetings. Trustees are also made aware of their requirements under law through legal briefing papers issued by the church’s finance team and other professionally qualified advisers and all new Trustees are issued with the Charity Commission booklet CC3 setting out the roles and responsibilities of Trustees.

Remuneration of key management personnel

The PCC, as the employer of all the paid staff apart from the stipendiary clergy, seeks to pay its staff at a rate consistent with other churches of a similar size and complexity, together with relevant benefits including a non-contributory workplace pension scheme administered by Standard Life and NEST. In addition, the PCC ensures that the ratio between the lowest and highest rates of pay is fair and reasonable, reflecting the seniority, experience and responsibilities of current staff.

The Revd. Gareth Dicks, was employed by the PCC, as an Associate Minister. He was employed on the same terms as stipendiary clergy and the church utilised the payroll services of the Diocese to calculate his stipend and benefits. The church then settled amounts due to the Diocese as requested. All his costs are included under staff employment costs, see notes 7 and 8.

Salaries are reviewed annually in January and approved by the PCC. There are no employees paid in excess of £60,000 per annum, see note 7. Key personnel are listed on page 22 and details of remuneration are shown in note 7.

Delegation of day to day delivery

Some day to day decisions on expenditure and activities are delegated to the staff and volunteers in charge of different areas of the church, with budgets set and activities monitored by the PCC and the SMT. The principal delegation by the PCC is to the Vicar, Paul Harcourt, and through him to the individuals with responsibility for particular areas and functions, the senior members of which comprise the SMT. Some staff hold the title of ‘Director’, but this relates to their function within the organisation and has no legal meaning within the terminology associated with the Companies Act 2006.

Data Protection

The PCC approved the current Privacy Policy on 19 January 2018 which is available to view on the church’s website. The PCC is responsible for ensuring that the church complies with the current Data Protection Regulation.

TRUSTEES’ RESPONSIBILITIES

The law applicable to charities in England and Wales requires the members of the PCC to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the PCC and of the incoming resources and application of resources during the year then ended.

In preparing those financial statements, the members of the PCC should follow best practice and are required to:

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R E P O R T O F T H E P A R O C H I A L C H U R C H C O U N C I L

Year ended 31 December 2021

The members of the PCC are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the church and which enable them to ensure that the financial statements comply with the Church Accounting Regulations 2006 and the Charities Act 2011. The members of the PCC are also responsible for safeguarding the church’s assets and hence for taking reasonable steps towards the prevention and detection of fraud and other irregularities.

The members of the PCC are responsible for the maintenance and integrity of the corporate and financial information included in All Saints’ with St Andrew’s website. Legislation in England and Wales governing the preparation and dissemination of financial statements and other information included in Annual Reports may differ from legislation in other jurisdictions.

STATEMENT OF DISCLOSURE TO THE AUDITORS

So far as the members of the PCC are aware:

APPOINTMENT OF AUDITORS

The re-appointment of Haslers as auditors to the Parochial Church Council of All Saints’ with St Andrew’s will be proposed at the APCM.

ADMINISTRATIVE DETAILS

Church Electoral Roll As at 31 December 2020 Net additions/(reductions) 13 As at 31 December 2021 590

Trustees

During 2021 and to the date of this report the following served as members of the PCC in the capacities listed:

Incumbent The Revd. Paul Harcourt (Chairman) Associate Minister The Revd. Mark Castleton The Revd. Gareth Dicks (to June 2021) The Revd. Sam Pollard (to February 21) Curate The Revd David Baker The Revd. Thom Jee The Revd Urbain Yombe (to February 21)

Minister in Secular Employment The Revd. David Blackledge Lay Worker Anna Pollard (to February 21) Diocesan Synod Frank Hawkins Heather Housden Deanery Synod Sophia Burley Dean Gillespie Peter Morriss (from May 2021)

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Year ended 31 December 2021

Mary Nunns (from May 2021)
Stella Redburn
Anne Sachs
Anisa Wright
Churchwardens Heather Housden (Vice Chair (from April 2021))
Sarah Schroder (Vice Chair) (to April 2021)
Terence Stamp (from April 2021)
Deputy Wardens Louise Felstead (to April 2021)
Matthew Jackson
Albert May
Rakesh Rajan (from April 2021)
Terence Stamp (to April 2021)
Adrienne Wright (from May 2021)
Hon Treasurer Frank Hawkins
Elected PCC Members Chima Allan (to April 2021)
Nick Clayton (to April 2021)
Nicholas Gray (from April 2021)
Gill Hampton
Yasmin Omotosho
Paul Sherrington
Josephine Smith
Christopher Somerville (to April 2021)
Eunice Sparks
Keeley Stamp
Daniel Vickers (from April 2021)

During 2021 the following staff attended PCC meetings by invitation: Pastoral and Prayer Co-ordinator Helen Morris Operations Director Ken MacGregor Director of Youth, Children’s and Families Ministry Fiona Green Leader of Pastoral Ministry Lin Button Youth Worker Catherine Birch Worship Pastor Martin Donovan Children’s Worker Sam Voyle (from August 2021)

Key personnel:

The church regards members of the SMT and department heads as its key personnel. During the year the following served:

Church leaders Associate minister Curate Churchwarden Churchwarden Churchwarden Treasurer Operations Director Operations Manager Safeguarding Clerk Director of Youth, Children’s and Families Ministry Worship Pastor

The Revd. Paul and Becky Harcourt The Revd. Mark Castleton The Revd. Thom Jee Heather Housden Sarah Schroder (to April 2021) Terence Stamp (from April 2021) Frank Hawkins Ken MacGregor Natalie Cope (from June 2021) Fiona Weaver (from June 2021) Fiona Green Martin Donovan

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R E P O R T O F T H E P A R O C H I A L C H U R C H C O U N C I L

Year ended 31 December 2021

Pastoral and Prayer Co-ordinator
Helen Morris (from June 2021)		 Pastoral and Prayer Co-ordinator
Helen Morris (from June 2021)
Registered Office: The Parish Office of All Saints’ with St Andrew’s
Inmans Row, Woodford Green, Essex, IG8 0NH
Bankers: HSBC Bank plc
74 High Street, Ilford, IG6 2GN
Deposit holders: Scottish Widows plc
67 Morrison Street, Edinburgh, EH3 8YJ
Church of England Central Board of Finance
Senator House, 85 Queen Victoria Street, London, EC4V 4ET
Auditors: Haslers
Old Station Road, Loughton, Essex, IG10 4PL
Solicitors: Laytons LLP
2 More London Riverside, London Bridge, SE1 2AP
Winckworth Sherwood
Minerva House, 5 Montague Close, London, SE1 9BB

This report was approved by the PCC on 21 March 2022 and signed on its behalf by:

Revd. Paul Harcourt Vicar

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I N D E P E N D E N T A U D I T O R S ’ R E P O R T

Year ended 31 December 2021

Opinion

We have audited the financial statements of The Parochial Church Council of the Ecclesiastical of All Saints Woodford Wells (the 'charity') for the year ended 31 December 2021 which comprise the Statement of financial activities, the balance sheet, the statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

In our opinion the financial statements:

Basis of opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustee's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The Trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditors' report thereon. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

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I N D E P E N D E N T A U D I T O R S ’ R E P O R T

Year ended 31 December 2021

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustee's responsibilities statement, the Trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

We obtained an understanding of the legal and regulatory frameworks applicable to the charity and the sector in which it operates. We determined that the following laws and regulations were most significant: the Charities Act 2011.

We obtained an understanding of how the charity are complying with those legal and regulatory frameworks by making inquiries to the management.

We assessed the susceptibility of the charity’s financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the audit engagement team included:

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I N D E P E N D E N T A U D I T O R S ’ R E P O R T

Year ended 31 December 2021

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditors' report.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its trustees, as a body, for our audit work, for this report, or for the opinions we have formed.

LAURA AMBROSE (Senior Statutory Auditor)

For and on behalf of Haslers Chartered Accountants Statutory Auditor Old Station Road Loughton IG10 4PL

21 March 2022

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S T A T E M E N T O F F I N A N C I A L A C T I V I T I E S

Year ended 31 December 2021

Notes
Income from
Donations and legacies
2a
Charitable activities
2b
Other trading activities
2c
Investments
2d
Other
2e
Total income
Expenditure on
Raising funds
3a
Charitable activities
Parochial ministry
3b
Parish share
3c
Grants
3d
External ministry
3e
Total expenditure
Net income / (expenditure)
Transfers between funds
16
Net movements in funds for the year
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
Funds
£
767,672
135,121
0
1,045
4,822
908,660
0
357,585
235,119
29,242
314,373
(936,319)
(27,659)
13,207
(14,452)
2,211,744
2,197,292		 Restricted
Funds
£
79,560
0
7,994
266
30,696
118,516
1,294
21,331
0
78,797
7,917
(109,339)
9,177
(13,207)
(4,030)
918,506
914,476		 Total
2021
£
847,232
135,121
7,994
1,311
35,518
1,027,176
1,294
378,916
235,119
108,039
322,290
(1,045,658)
(18,482)
0
(18,482)
3,130,250
3,111,768		 Total
2020
£
830,200
179,597
4,432
2,579
37,566
1,054,374
346
399,075
233,052
118,379
360,466
(1,111,318)
(56,944)
0
(56,944)
3,187,194
3,130,250

All income and expenditure derive from continuing activities.

The accompanying notes on pages 30 to 47 are an integral part of these financial statements.

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B A L A N C E S H E E T

Year ended 31 December 2021

Notes
Fixed assets
Tangible fixed assets
11
Current assets
Debtors
12
Cash at bank and in hand
13
Creditors: amounts falling due within one year
14
Net current assets
Net assets
Represented by:
Unrestricted revenue fund – general
16a
Unrestricted revenue fund – designated
16b
Total unrestricted funds
Restricted funds
16c
Total funds		 2021
£
2,070,817
30,021
1,060,926
1,090,947
(49,996)
1,040,951
3,111,768
2,153,057
44,235
2,197,292
914,476
3,111,768		 2020
£
2,084,094
238,481
856,540
1,095,021
(48,865)
1,046,156
3,130,250
2,154,693
57,051
2,211,744
918,506
3,130,250

The accompanying notes on pages 30 to 47 are an integral part of these financial statements.

The members of the PCC acknowledge their responsibility for ensuring the church keeps proper accounting records in accordance with the requirements of the Charities Act 2011 as more fully set out in the statement of Trustees’ responsibilities in the Trustees’ Report.

The financial statements on pages 27 to 47 were approved by the Parochial Church Council on 21 March 2022 and were signed on its behalf by:

Frank Hawkins Treasurer

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C A S H F L O W S T A T E M E N T

Year ended 31 December 2021

CASH FLOW STATEMENT
Cash flows from operating activities:
Net cash inflow/(outflow) from operating activities
Cash flows from investing activities
Net cash inflow/(outflow) from investing activities
Cash flows from financing activities
Net cash inflow/(outflow) from financing activities
Change in cash and cash equivalents in
the year ended 31 December
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the reporting
period
RECONCILIATION OF NET MOVEMENTS
IN FUNDS TO NET CASH FLOW FROM
OPERATING ACTIVITIES
Net movement in funds for the year (as per the
statement of financial activities)
Adjustments for:
Depreciation charges
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash inflow/(outflow) from operating activities
ANALYSIS OF CASH AND CASH
EQUIVALENTS
Cash in hand
Notice deposits (less than 3 months)
Total cash and cash equivalents		 2021
£
204,386
0
0
204,386
856,540
1,060,926
(18,482)
13,277
208,460
1,131
204,386
154,401
906,525
1,060,926		 2020
£
9,353
0
0
9,353
847,187
856,540
(56,944)
20,644
66,611
(20,958)
9,353
280,304
576,236
856,540

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N O T E S T O T H E F I N A N C I A L S T A T E M E N T S

Year ended 31 December 2021

1. ACCOUNTING POLICIES

The financial statements have been prepared on a going concern basis under the historical cost convention, with the exception of freehold properties, which are included at their fair value as determined under the applicable valuation method as detailed in c). The financial statements have been prepared in accordance with the Charities Act 2011 together with the ‘Statement of Recommended Practice’ for Charities (SORP 2015), and the applicable accounting standard (FRS102).

The financial statements include all the transactions, assets and liabilities for which the Parochial Church Council (PCC) is responsible in law. They do not include the accounts of church groups that owe their affiliation to another body or those which are informal gatherings of church members.

The financial statements are presented in sterling, which is the functional currency of the charity, and rounded to the nearest pound sterling. The principal accounting policies and estimation techniques are as follows.

a) Income

All income is included in the Statement of Financial Activities when the PCC is legally entitled to them as income or capital respectively, ultimate receipt is probable and the amount to be recognised can be quantified with reasonable accuracy.

b) Expenditure

Expenditure is included on the accruals basis and has been classified under headings that aggregate all costs related to the relevant category in the Statement of Financial Activities.

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Year ended 31 December 2021

c) Tangible fixed assets and depreciation

Freehold properties

There are two classes of freehold property: land and buildings which are held at cost after impairment and residential properties which are held at deemed cost (see note 11).

Depreciation is not provided on land and buildings or residential properties as any provision (annual or cumulative) would not be material due to the very long expected remaining useful economic life in each case, and because their expected residual value is not materially less than their carrying value. The PCC has a policy of regular structural inspection, repair and maintenance and properties are therefore unlikely to deteriorate or suffer from obsolescence. In addition, disposals of properties occur well before the end of their economic lives and disposal proceeds are usually not less than their carrying value. The PCC perform annual impairment reviews in accordance with the requirements of FRS102 to ensure that the carrying value is not more than the recoverable amount.

Consecrated land and buildings and moveable church furnishings

Consecrated and beneficed property is excluded from the Financial Statements by Section 10(2)(a) of the Charities Act 2011. No value is placed on moveable church furnishings held by the churchwardens on special trust for the PCC and which require a faculty for disposal since the PCC consider this to be inalienable property. All expenditure incurred during the year on consecrated or beneficed buildings and moveable furnishings, whether maintenance or improvements, is written off as incurred.

Plant and machinery

Individual items of plant and machinery used within the church premises with a purchase price of over £10,000 are capitalised, items with a purchase price of £10,000 or less when the asset is acquired are written off as incurred. Capitalised plant and machinery is depreciated on a straight line basis over 10 years.

Fixtures, fittings and equipment

Individual items of fixtures, fittings and equipment used within the church premises with a purchase price of over £10,000 are capitalised, items with a purchase price of £10,000 or less when the asset is acquired are written off as incurred. Capitalised fixtures, fittings and equipment are depreciated on a straight line basis over 4 years.

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Year ended 31 December 2021

d) Taxation

As a registered charity, the organisation is exempt from income and corporation tax to the extent that its income and gains are applicable to charitable purposes only. Value added tax is not recoverable by the organisation and is therefore included in the relevant costs in the Statement of Financial Activities.

e) Going concern

The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from the date of authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

f) Fund balances

Fund balances are split between unrestricted (general and designated), and restricted funds.

g) Judgements and estimates

In the application of the accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are continually evaluated. Revisions to accounting estimates are recognised in the period in which the estimate is revised.

Significant judgements

Sources of estimation uncertainty

In the view of the Trustees there are no sources of estimation uncertainty affecting assets or liabilities at the balance sheet date that are likely to result in a material adjustment to their carrying amounts in the next financial year.

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Year ended 31 December 2021

2.
INCOME FROM
(a) Donations and legacies
Planned giving
Collections at services
Gift days
Other gifts
Legacies
Income tax recoverable (see * on page 34)
(b) Charitable activities
Site rental
New Wine activities
Fees
Coronavirus Job Retention Scheme
New Wine discipleship year
Outreach events
Atrium coffee bar
WTC hub
Audio, visual and distributed materials
Resourcing MMU
(c) Other trading activities
Annual sale
(d) Investments
Bank interest
(e) Other
Rental income
Grants for Church at Barking Riverside
DCMS Listed places of worship scheme
Sundry income
Total income		 Unrestricted
Fund
£
617,402
14,039
0
2,327
13,495
120,409
767,672
65,775
30,000
13,068
8,141
6,000
4,241
3,423
2,432
1,900
141
135,121
0
0
1,045
1,045
0
0
0
4,822
4,822
908,660		 Restricted
Funds
£
0
0
30,061
38,167
0
11,332
79,560
0
0
0
0
0
0
0
0
0
0
0
7,994
7,994
266
266
18,000
11,196
1,500
0
30,696
118,516		 Total
2021
£
617,402
14,039
30,061
40,494
13,495
131,741
847,232
65,775
30,000
13,068
8,141
6,000
4,241
3,423
2,432
1,900
141
135,121
7,994
7,994
1,311
1,311
18,000
11,196
1,500
4,822
35,518
1,027,176		 Total
2020
£
629,301
10,589
51,442
41,803
(43,000)
140,065
830,200
53,136
31,903
7,762
43,911
7,560
12,033
16,467
5,189
988
648
179,597
4,432
4,432
2,579
2,579
18,000
8,584
6,867
4,115
37,566
1,054,374

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Year ended 31 December 2021

2.
INCOME FROM (CONT’D)
* The income tax recoverable under gift aid scheme
relates to the following areas:
Planned giving
Other gifts
Gift days
Collections at services
Annual sale		 Unrestricted
Funds
£
112,039
0
0
8,370
0







Restricted
Funds
£
0
4,852
6,480
0
0
11,332		 Total
2021
£
112,039
4,852
6,480
8,370
0
131,741		 Total
2020
£
121,769
8,009
9,855
409
23
140,065
Total
2020
£
346
346
127,353
86,579
20,758
3,371
11,925
3,348
68,080
46,511
367,925
31,150
399,075
233,052
233,052
120,409
3.
EXPENDITURE ON
(a) Raising funds
Raising other trading activities
(b) Charitable activities
- Parochial ministry
Clergy and operations
Music
Audio, visual and distributed materials
Church maintenance and repairs
Other service costs
Youth and children
Residential properties
Allocated direct costs (see note 5)
Direct costs
Allocated support costs (see notes 4 and 6)
(c) Charitable activities
- Parish share
Parish share		 Unrestricted
Funds
£
0
0
100,968
60,721
25,622
23,960
6,207
3,545
60,293
42,946
324,262
33,323
357,585
235,119
235,119		 Restricted
Funds
£
1,294
1,294
0
1,750
0
0
16,057
0
1,921
1,593
21,321
10
21,331
0
0		 Total
2021
£
1,294
1,294
100,968
62,471
25,622
23,960
22,264
3,545
62,214
44,539
345,583
33,333
378,916
235,119
235,119

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Year ended 31 December 2021

3.
EXPENDITURE ON (CONT’D)
(d) Grants
Giving to institutions
CMS
Holy Trinity South Woodford
Grassroots
Christian Education Project
Iphiko
Personal Wholeness Trust: Counsel for Life
New Wine Trust
Nationwide Christian Trust (Living Light)
Church Pastoral Aid Society
Women on the Frontline
Church of England Evangelical Council
Freedom Network International
Good Shepherd Project
Evangelical Alliance
MacMillan Cancer Support
Bible Society
Children’s Society
Mill Grove
Livability
Scripture Union
Tear Fund
Kintsugi Hope
Mothers’ Union
St Cedd’s Barkingside
All Saints’ Highams Park
St Paul’s Hainault
Angel Tree
Crisis UK
Giving to individuals
Ruth Lovell
Chase and Ysanne Olson
Rob Santer
Kathryn Bishop
Mark Castleton
Andy Moules
Thom Jee
Helen Taylor
Tim and Bianca Wright
Alf Cooper
Joseph and Sarah Harvey
Reuben and Sarah Singleton
Other (see * on page 36)		 Unrestricted
Funds
£
0
7,000
4,000
2,378
3,480
0
350
300
0
1,460
1,000
0
630
500
480
250
0
0
0
0
0
100
0
0
0
0
0
0
21,928
1,200
0
0
1,740
1,500
0
1,000
800
0
0
0
0
0
6,240		 Restricted
Funds
£
18,000
1,500
0
1,322
120
3,200
2,500
2,000
1,500
0
0
1,000
0
0
0
0
250
250
200
200
200
0
100
0
0
0
0
0
32,342
11,412
5,750
5,750
2,876
0
1,000
0
0
750
250
250
250
18,167
46,455		 Total
2021
£
18,000
8,500
4,000
3,700
3,600
3,200
2,850
2,300
1,500
1,460
1,000
1,000
630
500
480
250
250
250
200
200
200
100
100
0
0
0
0
0
54,270
12,612
5,750
5,750
4,616
1,500
1,000
1,000
800
750
250
250
250
18,167
52,695		 Total
2020
£
18,000
18,560
2,885
4,000
2,835
3,500
10,100
2,400
1,500
1,435
1,000
0
630
500
0
300
300
250
250
250
250
0
140
3,716
3,560
3,560
1,670
1,644
83,235
8,190
5,750
6,000
2,800
0
1,000
0
945
250
250
250
250
8,249
33,934

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Year ended 31 December 2021

3.
EXPENDITURE ON (CONT’D)		 Unrestricted Restricted Total Total
Funds Funds 2021 2020
£ £ £ £
(d) Grants - Giving to individuals (cont’d)
Direct costs
28,168		 78,797 106,965 117,169
Allocated support costs (see notes 4 and 6) 1,074 0 1,074 1,210
29,242 78,797 108,039 118,379
(e) Charitable activities
- External ministry
Atrium and coffee bar 16,947 0 16,947 40,288
Outreach events
Children 792 0 792 550
Adults 2,065 0 2,065 7,430
Families 4,653 0 4,653 5,507
External hire 39,382 0 39,382 49,324
Baptisms, weddings and funerals 7,151 0 7,151 5,468
WTC hub 10,740 0 10,740 12,216
New Wine discipleship year 13,209 753 13,962 19,958
New Wine activities 1,022 0 1,022 6,058
Resourcing MMU 141 0 141 648
Allocated direct costs (see note 5) 182,689 7,154 189,843 179,660
Direct costs 278,791 7,907 286,698 327,107
Allocated support costs (see notes 4 and 6) 35,582 10 35,592 33,359
314,373 7,917 322,290 360,466
Total expenditure 936,319 109,339 1,045,658 1,111,318
4.
TOTAL RESOURCES EXPENDED
Raising funds
Charitable activities
Parochial ministry
Parish share
Grants
External ministry		 Direct
Costs
£
1,294
345,583
235,119
106,965
286,698
975,659		 Support
Costs
£
0
33,333
0
1,074
35,592
69,999		 Total
2021
£
1,294
378,916
235,119
108,039
322,290
1,045,658		 Total
2020
£
346
399,075
233,052
118,379
360,466
1,111,318

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Year ended 31 December 2021

5. DIRECT COSTS ALLOCATION

Youth and children, interns and facilities costs have been allocated on an estimated time
involved. All other costs have been allocated based on an estimate of how much the resource
category. The allocation is:
Raising
funds
Parochial
ministry
Parish
share
Grants
External
Ministry
£
£
£
£
£
Youth and children
0
19,347
0
0
58,041
Site rates, utilities and insurance
0
8,539
0
0
48,386
Cleaning
0
3,201
0
0
28,807
Facilities
0
7,162
0
0
21,486
Site maintenance and repairs
0
2,636
0
0
23,727
Interns
0
3,654
0
0
9,396
0
44,539
0
0
189,843		 basis of the individuals
is used by each
Total
2021
Total
2020
£
£
77,388
90,054
56,925
38,512
32,008
24,676
28,648
36,162
26,363
19,902
13,050
16,865
234,382
226,171

6. SUPPORT COSTS ALLOCATION

Secretarial and governance costs have been allocated on an estimated time basis of the individuals involved. All other costs have been allocated based on an estimate of how much the resource is used by each category. The allocation is:

Secretarial and admin
Office equipment and software
Printing, postage and stationery
Telephone, internet & website
Other administration
Governance
Financial support
Auditors remuneration
Accounts preparation
Tax review		 Raising
funds
£
0
0
0
0
0
0
0
0
0		 Parochial
ministry
£
13,419
8,129
1,229
753
(396)
4,697
3,163
2,339
0
33,333		 Parish
share
£
0
0
0
0
0
0
0
0
0
0		 Grants
£
0
0
0
0
0
494
334
246
0
1,074		 External
Ministry
£
13,419
8,129
1,229
3,011
(396)
4,697
3,163
2,340
0
35,592		 Total
2021
£
26,838
16,258
2,458
3,764
(792)
9,888
6,660
4,925
0
69,999		 Total
2020
£
23,350
10,374
2,766
3,683
1,343
9,888
6,660
4,775
2,880
0 65,719

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Year ended 31 December 2021

7.
STAFF COSTS AND EMOLUMENTS
Gross wages and salaries
Employer’s National Insurance contributions
Employer’s pension contributions		 2021
£
265,712
20,510
27,477
313,699		 2020
£
332,192
24,479
36,997
393,668

No employee received more than £60,000 during the year (2020: none). The total employee benefits of the key management personnel of the charity were £125,047 (2020: £133,885). The incumbent and curates receive a stipend from the Church of England and therefore no amounts are included in the employee benefits figure for these individuals.

The average number of persons employed during the year:
- Clergy, operations and secretarial
- Youth and children
- Music, audio and visual
- Atrium, coffee bar and site hire
- Facilities and cleaning
- New Wine discipleship year and WTC hub
The average number of persons employed during the year
based on full-time equivalent:
- Clergy, operations and secretarial
- Youth and children
- Music, audio and visual
- Atrium, coffee bar and site hire
- Facilities and cleaning
- New Wine discipleship year and WTC hub		 2021
Number
5.1
3.9
1.4
3.5
0.0
1.8
15.7
2021
FTE
3.3
3.1
1.4
2.2
0.0
0.4
10.4		 2020
Number
4.6
3.2
1.0
6.8
0.7
1.5
17.8
2020
FTE
4.1
2.6
1.0
3.4
0.4
0.9
12.4

At 31 December 2021 the actual number of employed staff was 18 (2020: 15).

As stated in the Remuneration of key management personnel section of the PCC report, the Revd. Gareth Dicks is included in the staff costs, staff numbers and pension costs in this note and note 8.

At different times during 2021 two (2020: 8) members of staff were furloughed resulting in a £8,141 (2020: £43,910) grant being receivable from the Coronavirus Job Retention Scheme. In addition to these payments being made in full to the staff members, ex-gratia payments were made to them, totalling £2,916 (2020: £13,803), to top up their salary and employer’s pension contributions to the pre-furlough level.

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Year ended 31 December 2021

8.
PENSION COSTS
The church operates a non-contributory workplace pension scheme:
- number of staff to whom benefits accrued
- costs for the year
- contributions outstanding at year end		 2021
Number
19
£
27,477
0		 2020
Number
19
£
36,997
0
9.
NET INCOME / EXPENDITURE FOR THE YEAR
This is stated after charging:
Auditors - Audit fee
Depreciation		 2021
£
6,660
13,277		 2020
£
6,660
20,644

10. RELATED PARTY TRANSACTIONS

Donations in furtherance of church’s objectives

The PCC made the following donations to related parties in furtherance of its objectives:

Related party Donation PCC member
Christian £0 Martin Martin is a Trustee of the Christian Education
Education Project (2020 - £4,000) Williamson Project.
Personal £3,200 David Blackledge David is a Trustee of the Personal Wholeness
Wholeness Trust (2020 - £3,500) Trust
New Wine Trust £2,850 Paul Harcourt Paul is the National Leader of New Wine
(2020 - £10,100)
Church of England £1,000 Paul Harcourt Becky is a member of the Church of England
Evangelical (2020 - £1,000) Evangelical Council
Council

Donations

The Revd. Paul Harcourt is the National Leader of New Wine. There is no contract of employment between New Wine Trust and Paul Harcourt. However, New Wine Trust donated All Saints’ Church £30,000 (2020 - £30,000). These funds are unrestricted.

Grants

The Revd. Mark Castleton and the Revd. Thom Jee received grants towards the cost of degree level academic studies of £1,500 (2020 - £0) and £1,000 (2020 - £0) respectively.

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Year ended 31 December 2021

10. RELATED PARTY TRANSACTIONS (CONT’D)

Supply of services

Elisabeth Harwood, Operations Assistant, was paid a salary (including employer pension contribution) of £12,821 (2020 - £12,311). She is Nick Clayton’s mother-in-law.

Dennis Martin was reimbursed £0 (2020 - £1,273) for costs incurred in conducting funerals and weddings.

Christopher Harwood was reimbursed £200 (2020 - £0) for costs incurred in conducting funerals and weddings. He is Nick Clayton’s father-in-law.

The Revd. Paul Harcourt received an intern housing allowance of £0 (2020: £300).

Trustees remuneration and other benefits

The Trustees received no remuneration for their services, but the following expenses were reimbursed:

Round sum expense allowances
Revd. Paul Harcourt
Revd. Gareth Dicks
Revd. Thom Jee
Revd. Mark Castleton
Revd. David Baker
Revd. Abi Todd		 £
3,600
1,200
2,400
2,400
2,400
0
12,000		 £
2,850
1,950
1,950
1,950
1,200
200
10,100

Trustees and related parties made aggregate donations during the year of £77,253 (2020: £111,925).

11.
TANGIBLE FIXED ASSETS
Church land
and building
£
Cost or valuation
At 1 January 2021
4,528,799
At 31 December 2021
4,528,799
Impairment
At 1 January 2021
(4,528,798)
At 31 December 2021
(4,528,798)
Depreciation
At 1 January 2021
0
Charge for year
All Saints’ auditorium
0
Grand piano
0
At 31 December 2021
0
Net book value
At 1 January 2021
1
At 31 December 2021
1		 Residential
properties
£
2,030,000
2,030,000
0
0
0
0
0
0
2,030,000
2,030,000		 Plant and
machinery
£
80,423
80,423
0
0
(34,181)
(8,043)
0
(42,224)
46,242
38,199		 Fixtures,
fittings and
equipment
£
157,700
157,700
0
0
(149,849)
0
(5,234)
(155,083)
7,851
2,617		 Total
£
6,796,922
6,796,922
(4,528,798)
(4,528,798)
(184,030)
(8,043)
(5,234)
(197,307)
2,084,094
2,070,817

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Year ended 31 December 2021

11. TANGIBLE FIXED ASSETS (CONT’D)

The Charities SORP 2015 and Church of England guidance to PCC’s (4[th] edition) require all nonconsecrated buildings to be capitalised as fixed assets in the balance sheet. The church land and building cost element in the above table records the construction costs of the All Saint’s site redevelopment and St Andrew’s refurbishment. The Trustees of the charity are of the opinion that the new buildings do not have a carrying value for balance sheet purposes as the buildings are not capable of being sold (due to the PCC not owning the land, there being no access to the buildings save through the church site itself and being physically linked to the consecrated building, and are not being used for the purpose of generating significant profit but rather to contribute to the running and maintenance costs). Therefore, the Trustees are of the opinion that the asset be impaired in the accounts to a nominal value.

The following properties are owned outright by the PCC and were professionally valued on an open market basis by Thomas Cann, external qualified valuer with Lawlors, in November 2013:

basis by Thomas Cann, external qualified valuer with Lawlors, in November 2013:
Residential properties
Walnut Cottage, 3 Inmans Row, Woodford Green
55B Montalt Road, Woodford Green		 2021
£
875,000
475,000
1,350,000		 2020
£
875,000
475,000
1,350,000

Following the adoption of FRS 102 in 2015, we have taken the opportunity to revalue the residential properties at transition date and use this as deemed cost. A revaluation policy is therefore not being applied going forward.

As a result of the Mary Lee legacy, title to 24 Vernon Avenue was transferred to the PCC outright on 5 June 2018 and title is held by the Custodian Trustee. Probate value of £680k at the time of acquisition is used as deemed cost.

Plant and machinery is depreciated on a straight line basis over 10 years. Fixtures, fittings and equipment is depreciated on a straight line basis over 4 years. The 2021 depreciation charges were against the following funds:

funds:
All Saints’ plant and machinery dep’n
All Saints’ fixture fitting & equip’t dep’n		 Total
Designated
Dev+Maint
Dep’nl
Restricted
Dev+Maint
Dep’n
All Saints’
General /
trf Mary Lee
Restricted
£
£
£
£
8,043
3,817
4,226
0
5,234
0
0
5,234
13,277
3,817
4,226
5,234

The total depreciation charged to the Development and Maintenance funds in the year was £3,817 for designated and £4,226 for restricted, leaving the funds with a balance of £18,125 for designated and £20,074 for restricted. These Development and Maintenance funds will be reduced to zero by 31 December 2026 as the plant and machinery depreciation and fixtures, fittings and equipment depreciation is charged.

41

ALL SAINTS’ WITH ST ANDREW’S

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S

Year ended 31 December 2021

12.
DEBTORS
Tax reclaim
Trade debtors
Other debtors
Prepayments
Accrued legacy income		 2021
£
12,635
8,928
3,043
5,415
0
30,021		 2020
£
10,200
1,779
5,959
543
220,000
238,481
13.
CASH AT BANK AND IN HAND
CBF deposit accounts
HSBC plc current and interest bearing accounts
Scottish Widows plc
Cash in hand		 2021
£
906,017
154,074
508
327
1,060,926		 2020
£
575,628
280,008
608
296
856,540
14.
CREDITORS - DUE WITHIN ONE YEAR
PAYE / NI
Trade creditors
Accruals
Rates
Audit fee
Utilities
Accounts preparation fee
Electrician
Other
Deferred income
Site hire fees
Wedding and site deposits
Wedding fees		 2021
£
3,958
6,777
8,000
6,660
5,536
4,925
4,540
2,337
4,863
2,400
0
49,996		 2020
£
4,487
18,508
0
6660
3,906
4,775
0
5,109
0
4,500
920
48,865
15.
DEFERRED INCOME
Deferred income comprises site hire income and wedding deposits.
Balance as at 1 January 2021
Released to income earned from charitable activities
Deposits repaid
Amount deferred in year		 2021
£
5,420
(743)
(4,077)
6,663
7,263		 2020
£
21,250
(16,380)
(1,550)
2,100
5,420

42

ALL SAINTS’ WITH ST ANDREW’S

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S

Year ended 31 December 2021

16.
FUNDS
- MOVEMENTS IN YEAR
(a) General
General
Residential Properties
Property
Property Purchase
Accrued Legacy
All Saints’ Operating Activities
St Andrew’s Operating Activities
(b) Designated
Connect Project Depreciation
Ministry
Barking Riverside
Holy Trinity South Woodford
Organ
(c) Restricted
Mary Lee Legacy (Property)
Mary Lee Legacy (Other)
Mary Lee Legacy (Piano)
Barking Riverside (Diocesan)
Barking Riverside (Other)
St Andrew’s Legacy
Connect Project Depreciation
NW Discipleship Students - CDBF
Parish Hardship
St Andrew’s Children’s Worker
Mission
Fiona Green
Choir
St Andrew’s Ruth Lovell House
Gift Day
Annual Sale
St Andrew’s Ruth Lovell
Organ
St Andrew’s Kate Bishop
St Andrew’s Iphiko		 Balance at
1.1.21
£
1,350,000
0
287,057
220,000
250,000
47,636
2,154,693
21,942
18,109
10,000
7,000
0
57,051
680,000
54,463
7,851
48,137
28,467
32,757
24,301
14,565
24,307
0
2,221
550
0
887
0
0
0
0
0
0
918,506
3,130,250		 Income
£
0
0
0
8,495
848,378
51,787
908,660
0
0
0
0
0
0
0
18,084
0
69
27,175
23
0
18
3,540
9,363
403
35
0
4,525
36,541
7,994
6,000
1,750
2,876
120
118,516
1,027,176		 Expenses
£
0
0
0
0
(871,588)
(51,715)
(923,303)
(3,816)
(2,000)
0
(7,000)
(200)
(13,016)
0
(1,921)
0
0
(16,057)
0
(4,227)
(3,604)
(17,863)
(3,171)
(1,803)
0
0
(5,412)
(36,541)
(7,994)
(6,000)
(1,750)
(2,876)
(120)
(109,339)
(1,045,658)		 Transfers
£
0
515,552
(287,057)
(228,495)
13,007
0
13,007
0
0
0
0
200
200
0
(8,123)
(5,234)
0
0
0
0
0
0
0
0
0
150
0
0
0
0
0
0
(13,207)
0		 Balance at
31.12.21
£
1,350,000
515,552
0
0
239,797
47,708
2,153,057
18,126
16,109
10,000
0
0
44,235
680,000
62,503
2,617
48,206
39,585
32,780
20,074
10,979
9,984
6,192
821
585
150
0
0
0
0
0
0
0
914,476
3,111,768

43

ALL SAINTS’ WITH ST ANDREW’S

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S

Year ended 31 December 2021

16. FUNDS – MOVEMENT IN YEAR (CONT’D)

The general fund represents the unrestricted funds that are available for the PCC to spend in line with their aims and objectives. The table above subdivides the general fund of £2.153m, showing that at 31 December 2021 £1.35m was held in residential properties, £515k in a Property fund; the balance of £288k is in operating activities (All Saints’ - £240k, St Andrew’s - £48k).

The transfers shown above are explained in more detail in the table below.

TRANSFERS
(a) General
General
Property
Property Purchase
Accrued Legacy
All Saints’ Operating Activities
St Andrew’s Operating Activities
(b) Designated
Organ
(c) Restricted
Mary Lee Legacy (Other)
Mary Lee Legacy (Piano)
Choir		 Choir and
Organ
Transfers
£
0
0
0
(350)
0
(350)
200
200
0
0
150
150
0		 Mary Lee
Expenses
Transfer
£
0
0
0
13,357
0
13,357
0
0
(8,123)
(5,234)
0
(13,357)
0		 Property
Transfer
£
515,552
(287,057)
(228,495)
0
0
0
0
0
0
0
0
0
0		 Total
Transfers
£
515,552
(287,057)
(228,495)
13,007
0
13,007
200
200
(8,123)
(5,234)
150
(13,207)
0

Designated Funds

Connect Project Depreciation

These funds were given as part of Connect Project and will be used over the next five years as the plant & machinery and fixtures, fittings & equipment are depreciated. See note 11.

Ministry

This fund is used to support ministry training for leadership and staff of the church. It is intended to utilise this fund for similar ministry opportunities over the next three to five years.

Barking Riverside

The fund is for the Church at Barking Riverside. This church plant registered as a charity with the Charity Commission on 17 November 2021. The fund will be transferred to them when their bank account has been opened, which is expected to be in 2022.

44

ALL SAINTS’ WITH ST ANDREW’S

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S

Year ended 31 December 2021

16. FUNDS - MOVEMENTS IN YEAR (CONT’D)

Holy Trinity South Woodford

Following the induction of The Revd. Abi Todd as Curate-in-Charge of Holy Trinity South Woodford the PCC agreed to designate £20k as a fund available for various projects to help with the modernisation of Holy Trinity South Woodford. The final £7k was spent during 2021.

Organ

This fund is for organ maintenance and was spent during 2021 to fund part of the major organ overhaul.

Restricted Funds

Mary Lee Legacy (Property, Other and Piano)

The fund is for the upkeep and fabric of All Saints’ church. During the year the fund received £18k rental income and some bank interest, it paid £2k of property costs and £13k was transferred from the fund to the general fund to cover two specific upkeep and fabric costs of All Saints’ church. The cash element of the fund is expected to be used over the next one and a half years.

Barking Riverside (Diocesan, Other)

The fund is for the Church at Barking Riverside. This church plant registered as a charity with the Charity Commission on 17 November 2021. The fund will be transferred to them when their bank account has been opened, which is expected to be in 2022.

St Andrew’s Legacy

This fund represents various legacies received which are restricted for the use of St Andrew’s. It is expected that the fund will be used over the next five years.

Connect Project Depreciation

These funds were given as part of Connect Project and will be used over the next five years as the plant & machinery and fixtures, fittings & equipment are depreciated. See note 11.

NW Discipleship Students - CDBF

The fund represents the balance of a grant from the Diocese in 2018 to fund interns from parishes within the Diocese on the New Wine Discipleship programme at All Saints. It is expected that the fund will be used over the next two years.

Parish Hardship

Established during 2020, this fund is to assist those in need from both the church family and the local community. It is to provide small non-repayable grants to individuals and families who finds themselves in need and with no other means of support. It is intended for the purchase of everyday survival health and hygiene needs such as food, toiletries, prescribed medicines, utilities and as a way of sustaining people until they can access appropriate levels of assistance. It is expected that the fund will be used during 2022.

St Andrew’s Children’s Worker

The fund was raised to support St Andrew’s Children’s Worker. It is expected to be spent in 2022.

Mission

It is anticipated that the Mission Committee will allocate these funds to individuals or organisations as evangelistic opportunities arise over the next year.

Fiona Green Church Garden

This fund is to be used on improving and maintaining the church garden in memory of the late Fiona Green. It is expected to be spent in 2022.

Choir

This fund is for the choir and is expected to be spent over the next two years.

45

ALL SAINTS’ WITH ST ANDREW’S

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S

Year ended 31 December 2021

16. FUNDS - MOVEMENTS IN YEAR (CONT’D)

St Andrew’s Ruth Lovell House

This fund was raised to support Ruth Lovell in making her Ugandan house habitable. The fund was distributed during the year.

Gift Day

This fund was raised to extend the Kingdom through supporting of our mission partners. The fund was distributed during the year.

Annual Sale

This fund represents the money raised at the Annual Sale in November each year. The fund was distributed to support home and overseas mission individuals and organisations during the year.

St Andrew’s Ruth Lovell

This fund was raised to support Ruth Lovell. The fund was distributed during the year.

Organ

This fund is for organ maintenance and was spent during 2021 to fund part of the major organ overhaul.

St Andrew’s Kate Bishop

This fund was raised to support Kate Bishop. The fund was distributed during the year.

St Andrew’s Iphiko

This fund was raised to support Iphiko. The fund was distributed during the year.

17.
ANALYSIS OF NET ASSETS BY FUND
Fixed assets
Debtors, accrued income and prepayments
Cash at bank and in hand
Creditors due within one year
Net assets		 Unrestricted
Funds
£
1,368,126
28,947
848,778
(48,559)
2,197,292		 Restricted
Funds
£
702,691
1,074
212,148
(1,437)
914,476		 Total
2021
£
2,070,817
30,021
1,060,926
(49,996)
3,111,768		 Total
2020
£
2,084,094
238,481
856,540
(48,865)
3,130,250

18. THIRD PARTY TRANSACTIONS

During the year we had several collections on behalf of a third party organisations. The money was paid over in full as follows:

The money passed through our bank account to ease the administrative task. At no time did the money belong to us, so the transactions are not included in the Statement of Financial Activities.

46

ALL SAINTS’ WITH ST ANDREW’S

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S

Year ended 31 December 2021

19.
PRIOR YEAR COMPARATIVE STATEMENT
OF FINANCIAL ACTIVITIES
Income from
Donations and legacies
Charitable activities
Other trading activities
Investments
Other
Total income
Expenditure on
Raising funds
Charitable activities
Parochial ministry
Parish share
Grants
External ministry
Total expenditure
Net income / (expenditure)
Transfers between funds
Net movements in funds for the year
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
Funds
£
721,512
179,597
0
2,012
4,115
907,236
0
356,266
233,052
40,054
354,392
(983,764)
(76,528)
48,767
(27,761)
2,239,505
2,211,744		 Restricted
Funds
£
108,688
0
4,432
567
33,451
147,138
346
42,809
0
78,325
6,074
(127,554)
19,584
(48,767)
(29,183)
947,689
918,506		 Total
2020
£
830,200
179,597
4,432
2,579
37,566
1,054,374
346
399,075
233,052
118,379
360,466
(1,111,318)
(56,944)
0
(56,944)
3,187,194
3,130,250

47