## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## 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._ 1 of 10 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. 1 of 2 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. 3 of 10 ## 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 4 of 10 ## 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**| |---|---|---| 5 of 10 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 - _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. - _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. - _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 7 of 10 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**| |---|---| 8 of 10 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._ 9 of 10 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; - 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 - 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 - 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 2 of 2