ST AUGUSTINE'S WITH ST LUKE'S, BROMLEY COMMON
STATEMENT OF FINANCIAL ACTIVITIES
For the year ended 31 December 2020
| Notes INCOME Voluntary income 2a Activities for generating funds 2b Income from investments 2c Church Activities 2d Other income 2e Total Income EXPENDITURE Church activities 3a Raising funds 3b Other costs 3c Total Expenditure Net Income/Expenditure Net Gains on Investments & Fixed Assets 7 Transfers between funds 8 Net movement in funds Total brought forward at 1 January 8 Total carried forward at 31 December 9 |
Unrestricted Restricted Funds Funds 2020 2019 £ £ £ £ 86,877 8 86,885 98,596 6,900 - 6,900 6,960 18,948 - 18,948 10,202 48,596 - 48,596 78,284 201 - 201 240 161,522 8 161,530 194,282 172,541 - 172,541 206,692 20 - 20 2,867 - - - 213 172,561 - 172,561 209,772 (11,039) 8 (11,031) (15,490) 29,831 - 29,831 376,859 - - - - 18,792 8 18,800 361,369 2,042,188 391 2,042,579 1,681,210 2,060,980 399 2,061,379 2,042,579 TOTAL FUNDS |
|---|---|
St Augustine's with St Luke's have no Endowment Funds. They are therefore not shown as a Fund category in these accounts.
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ST AUGUSTINE'S WITH ST LUKE'S, BROMLEY COMMON
BALANCE SHEET AT 31 DECEMBER 2020
| Notes Fixed assets Tangible fixed assets 7a Investments 7b Total fixed assets Current assets Debtors 4 General Deposit Account Repair Fund Deposit Accounts Cash at bank and in hand Creditors: due within one year 5a Net current assets Total assets less current liabilities Creditors: due after one year 5b NET ASSETS Parish Funds Unrestricted 8 Restricted 8 |
2020 2019 £ £ 1,250,000 1,250,000 711,033 181,202 |
|---|---|
| 1,961,033 1,431,202 24,845 23,995 47,416 499,213 28,538 31,993 25,672 71,559 |
|
| 126,471 626,760 (26,125) (15,383) |
|
| 100,346 611,377 |
|
| 2,061,379 2,042,579 |
|
| - - |
|
| 2,061,379 2,042,579 |
|
| 2,060,980 2,042,188 399 391 |
|
| 2,061,379 2,042,579 |
Approved by the Parochial Church Council on 17th March 2021 and signed on its behalf
Chairman (Reverend Steve Spencer)
Treasurer (David Wardley)
The accompanying notes form a part of these financial statements.
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ST AUGUSTINE'S WITH ST LUKE'S, BROMLEY COMMON
1. ACCOUNTING STATEMENTS
Basis of financial statements
The financial statements have been prepared under the Church Accounting Regulations 2006 in accordance with applicable accounting standards and the current Statement of Recommended Practice, Accounting and Reporting by Charities and applicable accounting standard FRS102.
The financial statements have been prepared under the historical cost convention except for investment assets, which are shown at market value. The financial statements include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body, nor those that are informal gatherings of church members.
Fund accounting
Endowment Funds are funds, the capital of which must be retained either permanently or at the PCC’s discretion; the income derived from the endowment is to be used either as restricted or unrestricted income funds depending upon the purpose for which the endowment was established in the first place. St Augustine's with St Luke's has no endowment funds.
Restricted Funds comprise (a) income from endowments which is to be expended only on the restricted purposes intended by the donor, and (b) revenue donations or grants for a specific PCC activity intended by the donor. Where these funds have unspent balances, interest on their pooled investment is apportioned to the individual funds on an average balance basis.
Unrestricted Funds are income funds which are to be spent on the PCC’s general purposes.
Designated funds are general funds set aside by the PCC for use in the future. Project funds are designated for particular projects for administration purposes only. Funds designated as invested in fixed assets for the PCC’s own use are abated in line with those assets’ annual depreciation charges in the SOFA. Designated funds remain unrestricted and the PCC will move any surplus to other general funds.
Incoming resources
Planned giving, collections and similar donations are recognised when received. Tax refunds are recognised when the incoming resource to which they relate is received. Grants and legacies are accounted for when the PCC is entitled to the use of the resources, their ultimate receipt is considered reasonably certain and the amounts due are readily quantifiable. Dividends are accounted for when declared receivable, interest as and when accrued by the payer. All incoming resources are accounted for gross.
Resources expended
Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding or constructive obligation on the PCC. The diocesan parish share expected to be paid over is accounted for when due. All other expenditure is generally recognised when it is incurred and is accounted for gross.
Fixed assets
Consecrated and benefice property is not included in the accounts in accordance with s.10(2)(a) and (c) of the Charities Act 2011.
Movable church furnishings held by the vicar and churchwardens on special trust for the PCC and which require a faculty for disposal are inalienable property and listed in the church’s inventory. For anything acquired prior to 1 January 2001 there is insufficient cost information available and therefore such assets are not valued in the financial statements. Items acquired since 1 January 2001 and over £1000 are capitalised and depreciated in the accounts over their anticipated useful life on a straight line basis.
Equipment used within the church premises is depreciated on a straight-line basis over four years. Individual items of equipment with a purchase price of £1000 or less are written off when the asset is acquired.
Investments are valued at market value at 31 December.
Depreciation on freehold property, calculated to write off its cost, less anticipated residual value, over its expected useful life, is considered by the PCC to be immaterial, particularly in the light of continuing maintenance. Therefore no depreciation is charged in the financial statements.
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ST AUGUSTINE'S WITH ST LUKE'S, BROMLEY COMMON
| 2 INCOME a Voluntary income Planned Giving - Gift Aid Reclaimable Planned Giving - Gift Aid Not Reclaimable Collections and Giving eligible for GASDS Charitable Appeals Flower Appeal Other Donations Legacies Tax Recoverable (Gift Aid and GASDS) b Activities for generating funds Tower Rental (Mobile Aerial) Parish Magazine - Advertising c Investments Interest on Bank Deposit Interest from HMRC Interest on Repair Funds Investment Fund Dividends Rent from 40 Rolleston Avenue d Income from Church Activities Parochial Fees Community Activites Parish Magazine - Sales Social Events Room Hire and Office Rents e Other incoming resources Copier Sundry Income Total Income* |
Unrestricted Restricted Funds Funds 2020 2019 £ £ £ £ 43,053 - 43,053 46,924 21,943 - 21,943 18,637 1,522 - 1,522 7,953 - 8 8 4,042 662 - 662 1,205 7,128 - 7,128 203 1,300 - 1,300 5,000 11,269 - 11,269 14,632 86,877 8 86,885 98,596 6,300 - 6,300 6,340 600 - 600 620 6,900 - 6,900 6,960 200 - 200 551 6 - 6 40 81 - 81 91 17,703 - 17,703 1,620 958 - 958 7,900 18,948 - 18,948 10,202 1,128 - 1,128 2,199 774 - 774 3,091 466 - 466 880 635 - 635 1,155 45,593 - 45,593 70,959 48,596 - 48,596 78,284 3 - 3 26 198 - 198 214 201 - 201 240 161,522 8 161,530 194,282 TOTAL FUNDS |
|---|---|
- £958 is for reclaimed council tax for 40 Rolleston Avenue, the property we sold in December 2019
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ST AUGUSTINE'S WITH ST LUKE'S, BROMLEY COMMON
| 3 EXPENDITURE a Church Activities Missionary and Charitable Giving(See Note 10) Diocesan Offer Other Ministry Costs Salaries(Y&S Minister and Parish Administrator) Facilities Running Costs Facilities Improvements Equipment Depreciation Community Activites Office Services Worship Outreach and Communications Other Expenses b Raising Funds Stewardship 40 Rolleston Avenue c Other Costs Governance Exceptional Items Total Expenditure 4 DEBTORS Accrued Tax Recoverable Other Debtors and Prepayments 5 LIABILITIES a Creditors: due within one year Accrued Expenses/Deferred Income b Creditors: due after one year |
Unrestricted Restricted Funds Funds £ £ 15,560 - 81,180 - 4,516 - 33,753 - 25,385 - 4,450 - - - 309 - 4,493 - 955 - 1,366 - 574 - 172,541 - 20 - - - 20 - - - - - - - 172,561 - |
2020 2019 £ £ 15,560 19,141 81,180 81,180 4,516 6,035 33,753 40,148 25,385 40,611 4,450 4,026 - - 309 2,178 4,493 5,001 955 4,592 1,366 2,328 574 1,452 172,541 206,692 20 - - 2,867 20 2,867 - 213 - - - 213 172,561 209,772 2020 2019 £ £ 11,269 14,632 13,576 9,363 24,845 23,995 2020 2019 £ £ 26,125 15,383 - - TOTAL FUNDS |
|---|---|---|
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ST AUGUSTINE'S WITH ST LUKE'S, BROMLEY COMMON
8 SUMMARY OF FUND MOVEMENTS
| Unrestricted Funds a General Reserves b 40 Rolleston c Raglan Road d Investment Fund ae Repair Funds f Other Designated Restricted Funds g Charitable Giving h Stain Glass Window Total funds |
Balance Income Expenditure Transfers, Balance B/Fwd other gains C/Fwd 1 Jan 2020 and losses 31 Dec 2020 £ £ £ £ £ 185,546 160,005 (172,192) (112,009) 61,350 565,657 - - (565,657) - 1,250,000 - - - 1,250,000 - - - 711,033 711,033 31,993 81 - (3,536) 28,538 8,992 1,436 (369) - 10,059 2,042,188 161,522 (172,561) 29,831 2,060,980 20 8 - - 28 371 - - - 371 391 8 - - 399 2,042,579 161,530 (172,561) 29,831 2,061,379 |
|---|---|
Fund Notes
-
a The closing balances of General Reserves and Repair Funds were incorrectly stated in the 2019 accounts by £76 and -£76 respectively. The 2020 opening balances have been adjusted accordingly.
-
b The '40 Rolleston' opening balance represents the amount received from the sale of the property 40 Rolleston Avenue in 2019 and is split between £180,000 of investments and £385,657 of cash. In 2020 the '40 Rolleston Fund' fund was closed by the PCC, with the cash and investments transferred into the Investment Fund.
-
c The 'Raglan Road' fund matches the net carrying value of the property St Luke's Hall, Raglan Road in the accounts
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d The Investment fund was setup in 2020 by the PCC to support the ongoing mission of the church following the sale of 40 Rolleston Avenue with the objective of replacing the rental income with dividend income. The investment fund matches the value of investments held.
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e The 'Repair Funds' are amounts paid to Rochester Diocese intended to fund future repairs to St Augustine's Church, and St Luke's Hall. The funds are interest bearing and fully refundable. Following the sale of 40 Rolleston Avenue, the repair fund for this property was closed and £6,236 transferred to General Reserves.
-
f The 'Other Designated' fund represents ring fenced amounts for 3Cs, Parent and Toddler, Flower Guild and Forget-Me-Not.
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g The 'Charitable Giving' Fund represents amounts donated to Kondoa Diocese or associated projects.
-
h The stained glass window appeal was established in 1997 to fund the provision of a stained glass window in the church. This project is currently suspended, and there was no movement on the fund this year. The funds of £371 raised for the purpose are being held on deposit pending the possible restarting of the project.
Analysis of transfer between funds
The 40 Rolleston Repair Fund was closed and £6,236 was transferred to General Reserves. St Augustine's and St Luke's repair funds were funded from General Reserves at a rate of £265 a month. An unrealised gain of £1,193 held in General Reserves was moved to the Investment Fund. The 40 Rolleston fund was closed and £565,657 transferred to the Investment Fund.
Legacy gifts of £115,545 previously held in General Reserves were transferred to the Investment Fund. There were no transfers between Unrestricted and Restricted Funds
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ST AUGUSTINE'S WITH ST LUKE'S, BROMLEY COMMON
9 ANALYSIS OF NET ASSETS BY FUND
| On 31 Dec 2020 Tangible Fixed Assets Investments(CBF COE Investment Fund) Current assets Current Liabilities: due within one year Long Term Liabilities: due after one year |
Unrestricted Restricted Total Funds Funds Funds £ £ £ 1,250,000 - 1,250,000 711,033 - 711,033 126,072 399 126,471 (26,125) - (26,125) - - - 2,060,980 399 2,061,379 |
|---|---|
10 CHARITABLE GIVING
St Augustine's donated £15,560 to the following charitable organisations in 2020 (£19,356 in 2019)
| 10% Away Giving 2MakeIT Barnabus Trust Bible Reading Fellowship Biblica Bromley Foodbank Bromley Relief in Need Bromley Welcare CAP Bromley Church Army Church Mission Society Cry in the Dark Kondoa Diocese Latch Project Nsumbi Trust SAMS Ireland Scargill Movement Spinnaker Trust Collections and Appeals Bromley Foodbank |
1,000 500 750 600 500 500 1,350 360 1,500 2,250 500 2,640 600 600 600 750 500 £15,500 60 £60 |
|---|---|
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ST AUGUSTINE'S WITH ST LUKE'S, BROMLEY COMMON
11 STATEMENT OF FINANCIAL ACTIVITIES
For the year ended 31 December 2019
| INCOME Voluntary income Activities for generating funds Income from investments Church Activities Other income Total Income EXPENDITURE Church activities Raising funds Other costs Total Expenditure Net Income/Expenditure Net Gains on Investments & Fixed Assets Transfers between funds Net movement in funds Total brought forward at 1 January Total carried forward at 31 December |
Unrestricted Restricted Funds Funds 2019 2018 £ £ £ £ 94,111 4,485 98,596 110,340 6,960 - 6,960 7,050 10,202 - 10,202 19,364 78,284 - 78,284 55,750 240 - 240 225 189,797 4,485 194,282 192,729 201,942 4,750 206,692 214,484 2,867 - 2,867 1,566 213 - 213 158 205,022 4,750 209,772 216,208 (15,225) (265) (15,490) (23,479) 376,859 - 376,859 - 0 - 0 - 361,634 (265) 361,369 (23,479) 1,680,554 656 1,681,210 1,704,689 2,042,188 391 2,042,579 1,681,210 TOTAL FUNDS |
|---|---|
St Augustine's with St Luke's have no Endowment Funds. They are therefore not shown as a Fund category in these accounts.
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ST AUGUSTINE'S WITH ST LUKE'S, BROMLEY COMMON
Independent Examiner's Report to the PCC of St Augustine's, Bromley Common
I report on the accounts of the church for the year ending 31 December 2020 which are set out on pages 1 to 8
Respective responsibilities of the Trustees and the Examiner
The church's trustees are responsible for the preparation of the accounts. The church's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to :
-
Examine the accounts under section 145 of the 2011 Act;
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To follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the 2011 Act); and
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To state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
INDEPENDENT EXAMINER'S STATEMENT
In connection with my examination, no matter has come to my attention:
-
(1) which gives me reasonable cause to believe that in any material respect the requirements
-
to keep accounting records in accordance with section 130 of the 2011 Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Christine Case Snaefell, Highfield Road Biggin Hill TN16 3UX 17th March 2021
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