St Edward the Confessor The Parish Church of Romford www.stedwardsromford.com Annual Report and Financial Statements 2020 The Parochial Church Council of the Ecclesiastical Parish of Romford (Charity no. 1128998)
Parish of Romford Annual Report & Financial Statements 2020 Financial Statements and notes to the Accounts STATEMENT OF FINANCIAL ACTIVITIES For the Year ended 31 December 2020 FlxedAssts DSnad Funds Re5trl¢ttd Total Fundg Funds Funds 2020 2019 Incoming Resources Volun13ry iiicome Aclwities lor generating fUrS InCON from invfrslments 463.417 463.417 247,751 5,176 2,416 3,313 2b 162 1.519 162 1.519 2d Other incorning resourc8S 465,098 465,098 258,716 Resour¢e$ expended 23.986 3b 166.704 86.865 930 278,485 23.986 166,704 89.792 930 281,412 25,035 179,196 85,853 Minisiry Costs Church Running Costs Costs of fuDd5 2.921 3d 2,927 291,845 Nel incomingl loutgoiTrgl resources 186,613 2,927 1fj3,686 33,129 Transfers beiw8frn funds Nel ttK)vemenl in funds 186,613 2,927 183,686 33,129 26
Parish of Romford Annual Report & Financial Statements 2020 2. Incoming Resources FVed Auet DpsV4n4tEd Fund$ REsltictEd TDtal Tot Fund$ Funds Fynd$ 2020 2019 a. Volvnt8ryln¢ome GIrtAd- Bank 52.875 52,8T5 51.504 13.283 1,854 21,848 5,337 GIftAd- Envdo 0th8r plann gmt L5@ pLite ctAl8ckns Gmng through church boxes Grft Aid gifts WYkeM Tnjsl Contribution lo ExkEnses Non grft OallonS Tax rpLoverabk on Gift Ad 1,845 &345 2,075 2,075 20.979 &(h2 16.710 311.6 1&311 20.9T9 48.831 51.0 18.056 16,TTO 311,656 Furtgh Grant Non-recuTriry One grdrrts Other lunds qener 20, 463.417 463.417 247.751 b. A¢tlvltAes lorgeneratlngfunds Gerral fundrrisi 5.1T6 5,176 . InconTefrom lnvesbjllt5 Bk CBF Det¥Jsil Fuj test 162 162 162 162 2.4T6 2.476 d. IncfrmeTrom th141• •¢tr¢lUes F885 for EddI5 and fUra15 1,519 1,519 3,313 3,313 1,519 . OlheriJKoThngrnsourus Insurartt claims 4&5,098 465,098 258,716 anned gmng, Co1ctiOnS and lLr donatn5 are remgnised %vhen received. Tax refur are reCgniSed when the ncomlTrJ resourceto which they relate recelved. Grants and are accrAJnted for when the PCC is entitledto useof the resources, thelruttltrte r*1pt5 is COndered rea50natly certain and the amutrts due are reIbty wantifiatA8. MI incomiw resources are accounted forgross. 32
Parish of Romford Annual Report & Financial Statements 2020 3. Resources Expended Flxed Assets Deslynated liestricted Funds Fwnd 2020 2019 a. Churth and ¢harftable YIng Missionary and tharitaNe gwing Horne mi%5ion- Ed's P sUl8r charities ¥keham Trust 20,836 150 3.WO 23.986 20,836 24,095 940 3.0 23,986 25.035 b. Ministry Costs DKbcesan Parish Share 91,6 3.699 91,505 3,699 71.5rM) 166,704 93,035 5.624 83.3 182.OCO Other ministry costs Salarles and perdon costs 166.704 - Church Running Costs Parish Iraining and mi%s Church inSUrae Church utllitles 396 7.332 8.305 937 7.332 8.30S 931 7.2 10.110 3,907 22,376 Church utheep of 58Mc85 Org, choir nWSiG Equipment e¥FEns Church rnanteThr Cleaning Parish magaan8 costs Deweciati PtoCopn9 Parfsh olflce lelephorE & broadband Poslage & sla Card Fee5 Bookstsll costs IependeTrt emInerS renwwation 40,572 2.700 10.480 1,874 40,572 2,7CiI 10.4KJ 1,874 13.303 4.333 2,927 2,927 9.079 1.735 2,854 3,081 9.079 1.735 2.129 4,539 69 51 732 86,865 732 89,792 2,927 83.040 d. ¢o5t$ of raising fvnd5 Cost of ¥)peas 930 930 930 1.761 278.485 2,927 281.412 291.845 33
Parish of Romford Annual Report & Financial Statements 2020 4. Staff costs and related party transactions )meeTnployees kYoMde services for iK)th the Church the Wykeham Centre and Church Hou%. connected charity. Lxjring ts yearthe Wykehatn Centre contritMJtion5 towardsthe5e costs. The wa, salaries, S41 securtLyatKI pensions rwresentthetotal arUnt paid and are not shown net 1hesec0ntntian& a. Staff costs atsd nMberS 2020 2019 Wages, salaries, s181 securty & 71J)O AvEYage numberof tYnFAoyee5 b. Rolated pare$, transadions. Two emtloyees. Nicok Sharpand Jordan Palmer were paSd in aCcOrdar th trterM$Of etnplOynt during the year. NKola is a TtUStee and rnerntr of the PCC ar Jordan wasa ryEmtEr ofthe PCC. NherVWe t1 foriEiw a trustee or rTEmber ofthe PCC. Measures are in tkne toensure rK)conflKts of Interest arfse. The stiFEndiary Clergyvere reimburwl for wthiruJextwse& tt is cons1okr that no nBterial part of this rd8tes to Ihar as trustees. Donatbns from related partles (fnjstees and PCC rfEmtersl armunted to .974 the year made up of £9,974 of tegular giwng. Dirtttorof muslc, Mr J VenrEr, tho Is arso a Coxwed memter of the PCC, was p8ld £20.1W durfng the year in a{orda[ with his contract to F0de and manage the mUC tKovision for the church. Mrv Hardy. a rekted partytoa nEmberof the PCC wa5 £287 for maintenawe a1 decoration wo earried out dufiNJ the year. 5. Tangible Fixed Assets Curates Hory chuicl Toial AttuaUdeem•d co At 1 janu2020 DisWsS drtlons At31 Dec&nber 2020 a,0[) 6454 41454 10.131 74,985 10.131 424,985 350,000 Deprfrciatio At 1 janu 2020 DisW5 ditions A131 Dttber 2020 6,323 6,323 2.927 9,250 2.927 9.250 Net book arnounts A131 Decnber 2020 350.00 6S.736 41S.736 At31 Dnber 2019 350.000 58.531 408.531 During the year streaming WulpnntWa5 wrrJws&l in orderthat senri coukl be brDad(x5ttothe (xngregation and the %*ider communty. 34
Parish of Romford Annual Report & Financial Statements 2020 6. CuTh•nt Assets 7. Cr•dIl0.. amounts hllSng du• wlthln on• 1572 2,631 Oth•r crwJitty5 3.$31 8. Stat•m•nt of lundi Jin2n02 PCC fvr 1T5,827 175.127 278.4&5 10.132 10.132 Oeno Fw Flwl Au•ls F¥N Chwch FF8E 8u*W C $8.$31 2.927 10.132 65.T 408.531 2.927 10.132 415.7J6 AqslrfGl•d F¥mds Ptstth Fw f.759 1.751 I.T59 1.7 3S
Parish of Romford Annual Report & Financial Statements 2020 9. Subsidiary Funds A number of memrg ofthe congregatknn giVefY ark1 generoUYOfthr rne In w(mting adiviliesto raise funds for the church.. Credit is taken in the5efinan& ststwnerts as and when dunations are received frotll [1)r5 ofthes8 activities. TlwearE also a numiEroforyanisation associate(I wth thurch acGwnts are qutte separate fom) thtse finan(ad statements. 10. Diocesan Quota Payment of £91505 was achieved in 202013)19- £93.0351. 11. Acknowledgment of Intangible Income The Parwhial Church CnCIl is particulady gratefvl toth&Trustee5 dThe Wykehatn Centre Church House for Iharwalver ofcharges In respect of the ctre and Office. Furthu thanks are dt0 many memLErs of the Churchfamilyfora variety of servKes prowded. 12. Connected Charities TfE ykeM Centre and Church HcAJse Is a connected charlty, reglstered numter 291, (Ywnlng and administeredfrom, proterty alat tothe Church forthe purpos of furthering Ihe rdigious and other Charitab work ofthe Church of England in the ecdesiastical parish of Rotnford. Thi5th4rity wodU5 ts own antKJal kn0untswhh are In0*rJtlyeX8mine 13. Insurance Valuation of the Buildings TIE kKOkErbes owned and TnanaFd by Ihe PCC are currentty valued foringJrarKe pJrwses as folbws.. Building Oescripti In$uranGe Valuation st EdwaTd the Confessor 54 Parksith Avenue 40 HI Strl Church curat H(MJse E(f5 Pla 16240,0( 7.225 36