St. LUKES & St. FRANCIS PAROCHIAL CHURCH COUNCIL
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31ST DECEMBER 2020
Rachel Blackamore BA (Hons); CCBI; MBA 20 Tollington Way ` London N7 6FN
St. LUKES & St. FRANCIS PAROCHIAL CHURCH COUNCIL CONTENTS
| Page 3 | Legal and Administrative Information |
|---|---|
| Page 4 | Independent Examiners Report |
| Page 5 | Review of the Year |
| Page 6 | Trustees (PCC Members) Responsibilities |
| Page 7 | Statement of Financial Activities |
| Page 8 | Balance Sheet |
| Pages 9 to 13 | Notes to the Financial Statements |
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St. LUKES & St. FRANCIS PAROCHIAL CHURCH COUNCIL LEGAL AND ADMINISTRATIVE INFORMATION
St Luke's and St Francis
| Parochial Name | St Luke's and St Francis |
| Correspondent Address | St. Lukes & St. Francis Parochial Church Council, |
| St. Lukes Vicarage, Penn Road | |
| London. N7 9RE. | |
| PCC Members of the Church | During the year the following served as members of the PCC: |
| The Incumbent | The Revd. John MacKenzie |
| Associate Priest | The Revd. Martin Wroe |
| Wardens | Susie Holland (until Oct 2020) |
| Joy Hinson (from Oct 2020) | |
| Jif Thomson | |
| Adminstrator | Cristina Cooney |
| Treasurer | Mike Dark |
| Music Director | Justin Butcher |
| Assistant Music Director | Rick Leigh |
| Deanery Synod Representatives | Mike Dark |
| Denise Ward (until Oct 2020) | |
| Liz Curran (from Oct 2020) | |
| Cat Waithaka (from Oct 2020) | |
| Elected Members | Dayo Ashaye |
| Iain Cathcart | |
| Jacqueline Christian | |
| Sheena Cruse | |
| Joy Hinson (until Oct 2020) | |
| Susie Holland | |
| Daniel Northam-Jones | |
| Grace Pengelly | |
| Sara Rowebury (until Oct 2020) | |
| Rosemary Sheldon | |
| Tom Turner (from Oct 2020) | |
| Avis Venning | |
| Jonathan Ward (from Oct 2020) | |
| Co-opted Members | Sheena Cruse - safeguarding (from Oct 2020) |
| Susie Holland - children and young people (from Oct 2020) | |
| Justin Butcher (from Oct 2020) | |
| Charitable Status | St. Lukes Parochial Church Council is registered with the |
| Charity Commission | |
| Registered Charity Number 1128923 | |
| Bankers | National Westminster Bank plc, |
| 490 Holloway Road, | |
| London. N7 6HN. | |
| Independent Examiner | Rachel Blackamore BA (Hons); CCBI; MBA |
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INDEPENDENT EXAMINERS REPORT TO THE St. LUKES & St. FRANCIS PAROCHIAL CHURCH COUNCIL This report on the ffinancial statements of the PCC for the erKled 31 December 2020, whh are set out on pages 7 to 13. is in pect of an examin8kn"M carried out accordance the Church Atcounts'ng Regulations 2[ (Ihe ReguLath)ns'l and s.43 of the Charlttes A¢1 1993 ('the ACV). Rosp•cllve Re¥ponslbllltles of th• PCC and th8 Examlnor As members of the PCC you are rèsponsitAe for the preparation of the finanual statements: you consider that the audit requirement of the RegUlatS and s.43121 of the Act dS not apply. It is my responsibilty to to issue this reFth on those financial slalements in accordance ¥Mth the lems of the Regulations. Basls of Ind•pond•nl Examlnoes R•wl My examination was carried out in accordance with the General Directh)ns gwen by the Charlty Commission undor 5.43{71{b) of the Acl and lo be ftrjnd in the Church guJanrA. 2006 edition. That examinatlon includes a review of the accounting records kept by the PCC and a comparison of the accounts with those records. It also Includes constsjefing any unusu81 Items or dSscbsures in the flnanci81 statements and $88king eXplanatS from as tnjstees concemirvJ any such matters. The procedures und8rtaken do not provld6 811 the evKlence thal ould ba required in an audit, and ¢onsequenty I do not expr an audit opInn ¢)n thè ¥lew uwven by the accounts. Indepondent Examln•fs Unquaimed Stat•m•nt In ¢onnedon wlth my exarnln81ion, matter h8S c#)me to my atten1n. 1. whlch gives me rea%Jnable caw to boliava Ihat in materlal ro$poCt the roquiraments: {a} lo keep accounllng records in accordance Y•th Section 41 of Act; and {bl to prepare financial statements, whh a¢cord the accounty"n9 re¢¢*d$ and Comply Yalh the requirements of the Act 8nd the RegulatnS have not boen met: or 2. to which in my wnic)n, 8ttentw)n shwkl be drawn n er to onable a rxoper understandlNJ of the accounts to be reached. ILk.£.Jl Rachel Blackamore BA (Hons); CC81: MBA 20 Tollington Way London N7 6FN Dat8
St. LUKE'S & St. FRANCIS PAROCHIALCHURCH COUNCIL FINANCE REPORT Church life this year has been overshadowed by the effect of the pandemic and the finances are no exception lo this. Income has fallen by £30K from £207K in 2019 10 £177K in 2020. Donations from the congregation have. howevèr. incrèased by a quarter up well up from 74K lo £100K. The Ljse of on-line donations Ihrough our Virgin Money page has been very successful. Lettings, on the othei hand, have fallen from £109K lo £63K because of us having lo close the church. Expenditure during the year has fallen from £170K lo £152K. Ulililies was £4K less than in the previous year. Music and Admin were also down by £2K each. Charitable giving was also down. These were also the result of having lo close the church. Restricted funds can only be spent on the projects for which il has been given for. At the end of 2020 these stood at £7K down from £1IK in 2019. Overall the year was a decent one financially mainly thanks lo the generosty of the congregation and the buffer of the income from lelling out Sl. Francis. We look forward to supporb'ng John's vision for increasing our mission in the Parish. which will require even greater financial commitment from our congregation in the years to come. Mike Dark Treasurer
St. LUKES & St. FRANCIS PAROCHIAL CHURCH COUNCIL TRUSTEES (PCC MEMBERS) RESPONSIBILITIES PCC Memb•rn r•sponslbllitio5 In rolatlon to th• flnancljl stalem•nls Law appkable to charilies In England and Wal8s requires that the tnte&S prepare finala1 statements for each financial yEar whKh gr¥e a true and fair vbew of the chantys fanCial 8¢tivllies during thé year and of its financial wsitN)n al the end of the In preparing these financial statements the trustees are required to: 1. Select suitable accounting policies arKI appty thom 1$t8n11Y 2. Make judgements and 8stimates that are reasonaNe and pent 3. Stale whether applicabl8 accounting starKlards and Statements ol rec4Jmm8nded practice have been followed subject to any departures disclos8d and explain1 in the finanual statements 4. Prepare the financial statements on ts golng ¢crtam basis urless tt is inappropriate to prosumo that Ihe ctharity ¥rill C4)ntIn Ki trneSS The Iruslgos ar¢ responsible for kaeping accounbrvJ records wblch dlsck)s8 roasonablo aUr8¢Y at any lime the financ¢al pos11K of the charity and enable them to en$ur6 that the financial statements rA>rnpty with the Charitles Act 1993. TW are also respcsIble for safeguarding the assets of the charity and hence for taking reasonable stops f the prevention and detection of fraud and other irwularilies. Approved by the members of th8 PCC 8nd 8Sgned on their behall ty. Signatur• Narno NA keuzi e Dale ILk 20ZI
St. LUKES & St. FRANCIS PAROCHIAL CHURCH COUNCIL STATEMENT OF FINANCIAL ACTIVITES FOR THE YEAR ENDED 31st DECEMBER 2020
| INCOMING RESOURCES Voluntary Income from Donors 2a Other Voluntary Income 2b Activities for Generating Funds 2c Investment Income 2d Incoming Resources from Charitable Activities 2e Other Incoming Resources 2f TOTAL INCOMING RESOURCES RESOURCES USED Grants 3a Direct Charitable Expenditure 3b Cost of Generating Funds 3c Support Costs 3d Other Resources Expended 3e TOTAL RESOURCES USED NET INCOMING RESOURCES Transfer between funds Balances Brought Forward Balances Carried Forward |
Unrestricted Restricted Funds Funds 2020 2019 £ £ £ £ 99,726 - 99,726 73,505 603 10,768 11,370 23,253 63,363 - 63,363 109,206 116 - 116 208 2,120 - 2,120 719 2 - 2 282 |
|---|---|
| 165,929 10,768 176,697 207,174 |
|
| 2,443 - 2,443 10,548 124,706 7,318 132,024 139,449 528 - 528 1,264 16,655 - 16,655 18,569 - - - - |
|
| 144,332 7,318 151,650 169,830 |
|
| 21,598 3,450 25,047 37,344 - - - - 105,394 13,826 119,283 81,939 |
|
| 126,992 17,276 144,330 119,283 |
Movements on Reserves and all recognised gains and losses are shown above. All of the charity's operations are classed as continuing.
The notes on pages 9 to 13 form part of these financial statements.
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St. LUKES & SL FRANCIS PAROCHIAL CHURCH COUNCIL BALANCE SHEET AS AT 31st DECEMBER 2020 2020 2019 Curr•nt Assets Cash at Bank Debtors 151.302 2,639 1S9,942 134.705 3.417 138,123 Cr•dltorn Amounts folmng due wlhln one 15.611 18,840 NET CURRENT ASSETS 144.330 119.283 Cr•dltorn Amounts falmng due In rmire than one NEf ASSETS CAPIT AND RESERVES General Fund8 Reslrictod Fund$ 127.055 17276 105,458 13.826 Approvod ty tha members ol PCC and signed on their behal by. Sign8tuTo Name M'- kebJZI e Date l Lk MvO<4 ZOZI
St. LUKES & St. FRANCIS PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st DECEMBER 2020
1. ACCOUNTING POLICIES
The financial statements of the PCC have been prepared in accordance with the Church Accounting Regulations 2006 and s.43 of the Charities Act 1993 together with applicable accounting standards and the Charities SORP.
Funds
General funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application on the general purposes of the PCC. Funds designated for a particular purpose by the PCC are also unrestricted.
Restricted funds are those funds that must be spent on restricted purposes and details of the funds held and restrictions are provided in note 4. Endowment funds, where the capital must be retained, are explained in note 4.
The financial statements include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the financial statements of church groups that owe their main affiliation to another body, nor those that are informal gatherings of church members.
Incoming Resources
Voluntary Income and capital sources:
Collections are recognised when received by or on behalf of the PCC. Planned giving receivable under covenant is recognised only when received. Tax recoverable on Gift Aid donations is recognized when the donation is recognized. Grants and legacies to the PCC are accounted for as soon as the PCC is notified of its legal entitlement, the amount due is quantifiable and its ultimate receipt by the PCC is reasonably certain.
Other income
Rental income from the letting of church premises is recognised when the rental is due.
Income from Investments
Dividends are accounted for when due and payable, and interest entitlements are accounted for as they accrue. Tax recoverable on such income is recognized in the same accounting year.
Resources Used
Grants
Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding obligation on the PCC.
Activities directly relating to the work of the church
The diocesan parish share is accounted for when due. Any parish share unpaid at 31 December is provided for in these financial statements as an operational (though not a legal) liability and is shown as a creditor in the balance sheet.
Current Assets
Amounts owing to the PCC at 31 December in respect of fees, rents or other income are shown as debtors less provision for amounts that may prove uncollectable.
Short-term deposits include cash held on deposit either with the CBF Church of England Funds or at the bank.
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St. LUKES & St. FRANCIS PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st DECEMBER 2020
| 2. INCOMING RESOURCES a) Voluntary Income from Donors Planned Giving Collections Gift Days Gift Aid b) Other Voluntary Income Grants: Cloudesley Trust Fundraising c) Activities for Generating Funds Church Hall and Rents d) Investment Income Bank Interest e) Incoming Resources from Charitable Activities Ministry & Fees f) Other Incoming Resources Extra Ordinary Income Utilities and Maintenance Contributions |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2020 2019 £ £ £ £ 59,873 0 59,873 46,492 28,568 0 28,568 12,439 0 0 0 3,405 11,286 0 11,286 11,169 |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2020 2019 £ £ £ £ 59,873 0 59,873 46,492 28,568 0 28,568 12,439 0 0 0 3,405 11,286 0 11,286 11,169 |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2020 2019 £ £ £ £ 59,873 0 59,873 46,492 28,568 0 28,568 12,439 0 0 0 3,405 11,286 0 11,286 11,169 |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2020 2019 £ £ £ £ 59,873 0 59,873 46,492 28,568 0 28,568 12,439 0 0 0 3,405 11,286 0 11,286 11,169 |
|---|---|---|---|---|
| 99,726 0 99,726 73,505 |
||||
| 10,700 10,700 10,000 603 68 670 13,253 |
||||
| 603 10,768 11,370 23,253 |
||||
| 63,363 63,363 109,206 |
||||
| 63,363 | 0 | 63,363 | 109,206 | |
| 116 0 116 208 |
||||
| 116 0 116 208 |
||||
| 2,120 0 2,120 719 |
||||
| 2,120 0 2,120 719 |
||||
| 2 2 282 0 0 0 0 |
||||
| 2 0 2 282 |
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St. LUKES & St. FRANCIS PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st DECEMBER 2020
| 3. RESOURCES USED a) Grants Christian Aid Bishop's Discretionary Fund Citizens UK Discretionary fund Women at the Well Islington Centre for Refugees Housing Justice Street Link CAFOD Music Lessons - Samuel Rhodes School Raising Voices Charis Centre 404 African Prisons Copenhagen Youth Project Community Action on Prison Expansion (CAPE) b) Direct Charitable Expenditure Diocesan Quota - Common Fund Worship Sunday School/Youth Club Other Ministry Churchyard Repairs, Renewals & Maintenance Musician Verger Church Running Expenses - Utilities Church Running Expenses - Cleaning Church Running Expenses - Household Church Running Expenses - Insurance Postage, Printing & Stationery St. Francis Redevlopment Other Expenditure Bank Charges Nightshelter Fund Sustainability Fund AV equipment and IT Fund Vestry Fund Light Staging Fund PA System Fund c) Costs of Generating Funds Fundraising & Publicity d) Support Costs Administration Costs e) Other Resources Expended Loan Interest |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2020 2019 £ £ £ £ 260 260 1,018 325 325 0 0 700 200 200 30 0 0 400 0 0 1,000 500 500 1,000 500 500 1,000 0 0 500 0 300 58 58 2,000 0 2,000 500 500 500 0 100 0 0 1,000 100 100 0 |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2020 2019 £ £ £ £ 260 260 1,018 325 325 0 0 700 200 200 30 0 0 400 0 0 1,000 500 500 1,000 500 500 1,000 0 0 500 0 300 58 58 2,000 0 2,000 500 500 500 0 100 0 0 1,000 100 100 0 |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2020 2019 £ £ £ £ 260 260 1,018 325 325 0 0 700 200 200 30 0 0 400 0 0 1,000 500 500 1,000 500 500 1,000 0 0 500 0 300 58 58 2,000 0 2,000 500 500 500 0 100 0 0 1,000 100 100 0 |
|---|---|---|---|
| 2,443 0 2,443 10,548 |
|||
| 85,200 85,200 82,800 379 379 1,203 54 54 200 2,711 2,711 2,033 174 174 1,310 5,073 5,073 4,981 10,622 10,622 12,496 80 80 70 7,851 7,851 11,493 1,747 1,747 2,865 705 705 1,380 6,573 6,573 6,790 1,183 1,183 1,763 1,914 1,914 0 23 23 353 416 416 522 318 318 723 3,600 3,600 3,075 2,260 2,260 0 1,141 1,141 3,275 0 0 502 0 0 1,615 |
|||
| 124,706 | 7,318 | 132,024 139,449 |
|
| 528 0 528 1,264 |
|||
| 528 0 528 1,264 |
|||
| 16,655 0 16,655 18,569 |
|||
| 16,655 0 16,655 18,569 |
|||
| 0 0 0 0 |
|||
| 0 0 0 0 |
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St. LUKES & St. FRANCIS PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st DECEMBER 2020
4. RESTRICTED FUNDS
| 4. RESTRICTED FUNDS Sustainability Fund AV equipment and IT Fund Nightshelter Fund Lighting & Staging Fund Stonework and Solar panels Fund Vestry Fund |
Balance at Transfer Balance at 1st Jan 20 Income Expenditure from General 31st Dec 20 £ £ £ £ £ 6,925 0 0 0 6,925 0 5,000 (2,260) 0 2,740 2,541 68 (318) 0 2,292 2,134 0 0 0 2,134 0 5,700 (3,600) 0 2,100 2,225 0 (1,141) 0 1,084 |
| 13,826 10,768 (7,318) 0 17,276 |
Sustainability Fund
Funds received and expended to improve the sustainability of the church
AV Equipment and IT Fund
Funds received and expended to enable the church to live stream services
Nightshelter Fund
Funds received and expended to support the work of the Nightshelter project for the homeless that is hosted by St Lukes.
Lighting and Staging Fund
Funds received and expended to upgrade the lighting and staging.
Stonework and solar panels Fund
Funds received and expended to repair the stonework of the south wall and to install solar panels on that side of th
Vestry Fund
Funds received and expended to upgrade the vestry.
| 5. CASH AT BANK AND IN HAND St. Luke's Deposit Account St. Lukes Current Account |
TOTAL TOTAL 2020 2019 £ £ 155,302 132,705 2,000 2,000 |
TOTAL TOTAL 2020 2019 £ £ 155,302 132,705 2,000 2,000 |
|---|---|---|
| 157,302 | 134,705 |
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St. LUKES & St. FRANCIS PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st DECEMBER 2020
| 6. DEBTORS Prepayments Accrued Income 7. CREDITORS: AMOUNTS FALLING DUE WITHIN 1 YEAR Accruals Deferred Income Loans due in less than 1 year 8. CREDITORS: AMOUNTS FALLING DUE IN MORE THAN 1 YEAR Loans due 9. ANALYSIS OF NET ASSETS BY FUND Unrestricted Restricted Funds Funds £ £ Current Assets 142,666 17,276 Current Liabilities (15,611) 0 Liabilities > 1 year 0 0 127,055 17,276 |
6. DEBTORS Prepayments Accrued Income 7. CREDITORS: AMOUNTS FALLING DUE WITHIN 1 YEAR Accruals Deferred Income Loans due in less than 1 year 8. CREDITORS: AMOUNTS FALLING DUE IN MORE THAN 1 YEAR Loans due 9. ANALYSIS OF NET ASSETS BY FUND Unrestricted Restricted Funds Funds £ £ Current Assets 142,666 17,276 Current Liabilities (15,611) 0 Liabilities > 1 year 0 0 127,055 17,276 |
TOTAL TOTAL 2020 2019 £ £ - - 2,639 3,417 |
TOTAL TOTAL 2020 2019 £ £ - - 2,639 3,417 |
|---|---|---|---|
| 2,639 | 3,417 | ||
| TOTAL TOTAL 2020 2019 £ £ 3,611 6,840 12,000 12,000 0 0 |
|||
| 15,611 | 18,840 | ||
| TOTAL TOTAL 2020 2019 £ £ 0 0 |
|||
| 0 | 0 | ||
| TOTAL TOTAL 2020 2019 £ £ 159,942 138,123 (15,611) (18,840) 0 0 |
|||
| 127,055 17,276 |
144,330 119,283 |
10. STAFF COSTS
No staff were employed by the PCC during this period however we did have contracts with some individuals who are self employed.
11. PAYMENTS TO PCC MEMBERS
The PCC members received no remuneration in relation to fulfilling their role as trustees.
During the year, from the time he was co-opted as a PCC member, payments of £1,750 were made to Justin Butcher in connection with the provision for musical services as music director.
Miscellaneous expenses, totalling £4,349, were paid to six PCC members during the financial year 2020. These were reimbursements of routine items including maintenance, purchase of IT equipment, charitable donations, youth club/Sunday school or other expenses incurred on behalf of the church. These items were agreed in advance and were paid on production of an invoice or receipt.
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