ST STEPHEN’S CHURCH
BUSH HILL PARK
ENFIELD
FINANCIAL STATEMENT AND ANNUAL REPORT OF THE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED
31ST DECEMBER 2020
REGISTERED Charity No:1130768
In Interregnum
Bank:
Barclays Bank PLC
Enfield Branch
20. The Town, Enfield, EN2 6LY
INDEPENDENT EXAMINER
Mahesh Vaswani
29a Hendon Avenue
London N3 1UJ
ST STEPHEN’S CHURCH ANNUAL REPORT
This report covers the period January to December 2020
Background
St Stephen’s Church is currently in an interregnum and therefore the PCC has the
responsibility of promoting in the ecclesiastical parish the whole mission of the church,
pastoral, evangelistic, social, and ecumenical. It also has the maintenance responsibilities for
St Stephen’s Church and Church Halls, Park Avenue, Bush Hill Park, Enfield and for the
Curate’s House at 57 Uvedale Road, Enfield.
Membership
Members of the PCC are either ex officio or elected by the Annual Parochial Church
Meeting (APCM) or co-opted in accordance with the church representation rules.
Chairperson Mrs Gail Judd (Lay Chair)
Churchwardens Mrs Gail Judd (Treasurer)
Mrs Pauline Pearson (Hall Secretary)
Members
Ms Ann Reid (PCC Secretary)
Mr Errol Crawford
Mr Lou Tully
Mrs Helen Bridge
Mrs Claire Spring
Deanery Synod Rep
Mrs Karen Lo
REVIEW OF THE YEAR 2020
Church attendance
The church was closed for most of 2020 due to the Covid -19 pandemic. Services went
online for most of the year. The Church opened for a limited number of people from
October to December 2020.Figures are therefore limited.
Church attendance figures were counted during October 2020(previous year in brackets)
The average Sunday attendance was 20 (32). The average number of under 16’s was 0 (1).
During the year, there were 1 (1) baptism, 0 (0) wedding and 1 (3) funeral in church.
The PCC met 7 times (via Zoom) during the year with an average attendance of 95%
2020 became a very strange year for St Stephens as it did for everyone. We started the year
still in an interregnum as no Priest in Charge had yet been appointed. In March 2020, St
Stephens closed for public worship and all activities in the Church Hall were suspended due
to the Covid-19 outbreak. However, due to the outstanding efforts of Father Jeremy Foot, our
SSM, services were continued online, firstly from Father Jeremy’s home (thanks must go to
Julia, his wife, and family for allowing us to take over their dinning room for online services
every Sunday.) Father Jeremy then project managed the installation and setup of the internet
to St Stephens in the Summer, and we were then able to stream live from the Church for the
rest of the year. We were joined by the congregation of our sister Church St Marks online for
this year also. Due to Covid-19 we were unable to hold our Summer Fete, choral concerts, or
children’s Christmas activities, but we hope to reinstate these in 2021.
In April, the curtilage wall at the front of the Church grounds was demolished when a car
being pursued by the police lost control and crashed through the wall and landed in the
Church grounds. The wall was subsequently repaired during the following months.
In September, the Church Hall opened for the pre-school and 3 other groups only until
December 2020.
The Curate’s house at Uvedale Road continues to be fully let and has required some repairs
during this year.
The church has continued to support, via voluntary contributions, The Noah’s Ark
Children’s Hospice, and the local food bank.
The year ended on a positive note when Father Amatu Christian-Iwuagwuoa accepted the
post of Priest in Charge for both St Stephens and our sister Church St Marks. His installation
will take place in April 2021.
Approved by the PCC on-………….....................
and signed on its behalf by G Judd and P Pearson (churchwardens)
Signature……………………………/……………………………….
Donations to St Stephen’s Church
Under the charities act 1993 money donated to the church for a particular purpose
can only be used for that purpose. So, for example, if we collect money for a coach
trip and there is 50p left over, that 50p must be divided between all the people who
gave money and returned to them and of course there are many occasions where we
would not know who had donated e.g. contributions for coffee. To avoid having
lots of left-over amounts that we cannot use, the PCC has passed the following
resolution, which is repeated here for information.
Money donated to St Stephens Church for a particular purpose will be used
for that purpose until that need has been satisfied. Any unused balance will
then be used for the general purposes of the PCC, unless the donor specifies
otherwise in writing.
March1998
Fundraising for St Stephen’s Church is on a voluntary basis by collection bags at
services or by Gift Aid Envelopes or Direct Debit from the bank as requested by the
parishioners.
St Stephens Church does not use any third party to fundraise.
St Stephen’s PCC has complied with the duty under section 5 of the Safeguarding
and Clergy Discipline Measure 2016 in the case of having due regard to the House
of Bishop’s guidance on safeguarding children and vulnerable adults,
St Stephens Church has a reserve fund with the CBF. The current fund stands at
‚22,501. The PCC have decided to continue to set aside the reserve amount to
assist in covering the cost of repairs for the Church and Church Hall as highlighted
in the Quinquennial inspection.
PARISH OF ST STEPHEN'S, BUSH HILL PARK, ENFIELD STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2020
Notes
Incoming Resources
Voluntary
1a)
Other Ordinary
1b)
Investment
1c)
Income From Church Hall
1d)
Total Incoming Resources
Resources Expended
The Ministry
2a)
The Church and Services
2b)
Other Ordinary
2c)
Investment - Expenses incurred
2d)
Church Hall Expenses
2e)
Total Resources Expended
Net (Deficit)/Surplus before other
Recognised gains and losses
Gains on Fixed Assets
On revaluation of Land & Buildings
On revaluation of Investment Asset
Balance brought forward 1st January 2020
Balance carried forward 31st December 2020 |
Unrestricted
funds
Restricted
funds
Property
Fund
Total Funds
2020
2020
2020
2020
€
€
€
€
15,005
-
-
15,005
222
-
-
222
16,800
-
-
16,800
25,920
-
-
25,920
57,947
-
-
57,947
200
-
-
200
15,682
-
-
15,682
32,008
-
-
32,008
2,505
-
-
2,505
40,498
-
-
40,498
90,893
-
-
90,893
(32,946)
-
-
(32,946)
-
-
-
-
-
-
-
-
865,173
1,586
300,000
1,166,759
832,227
1,586
300,000
1,133,813 |
Total Funds
2019
€
23,723
1,656
16,800
70,420 |
|
|
112,599
1,007
28,442
30,207
4,195
76,865 |
|
|
140,716 |
|
|
(28,117)
-
-
1,194,876 |
|
|
1,166,759 |
5
PARISH OF ST STEPHEN'S, BUSH HILL PARK, ENFIELD BALANCE SHEET AS AT 31 DECEMBER 2020
Notes
Fixed Assets
Tangible
3 (a)
Investments
3 (b)
Current Assets
Debtors
4
Cash at Bank
Current account
Central Board of Finance
Total Assets
Current Liabilities
5
Creditors falling due within one year
Net Assets
Funds
Unrestricted Funds
Restricted Funds
Property Account |
€
6,997
67,103
22,501 |
2020
€
740,461
300,000
1,040,461
96,601
1,137,062
3,249
1,133,813
832,227
1,586
300,000
1,133,813 |
€
8,346
81,429
22,501 |
2019
€
760,000
300,000 |
|
|
|
|
1,060,000
112,276 |
|
89,604 |
|
103,930 |
|
|
|
|
|
1,172,276
5,517 |
|
|
|
|
1,166,759 |
|
|
|
|
865,173
1,586
300,000 |
|
|
|
|
1,166,759 |
Approved by the Parochial Church Council and signed on its behalf by:
………………………………..Chairman………………………………….Member
Date
The notes on pages 7 to 11 form part of these Accounts
6
PARISH OF ST STEPHEN'S, BUSH HILL PARK, ENFIELD
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2020
1 Accounting Policies
The PCC is a public benefit entity within the meaning of FRS102. The financial statements have been prepared under the Charities
Act 2011 and in accordance with the Church Accounting Regulations 2006 governing the individual accounts of PCCs, and with the
Regulations' "true and fair view" provisions, and have been prepared under FRS102 (2016) as the applicable accounting standards
and the 2016 version of the statement of Recommended Practice, Accounting and Reporting by Charities (SOPR(FRS102)).
Funds
Restricted funds represent the balance of monies donated for a specific purpose which had not been expended on that purpose by
the end of the year and which is carried forward to next year.
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.
Incoming Resources
Planned giving, collections and donations are recognised when received. Tax refunds are recognised when the
incoming resource to which they relate is received. All other income is recognised when it is receivable.
All incoming resources are accounted for gross.
Resources Expended
All 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.96(2) of the
Charities Act 1993.
Tangible fixed assets are included at cost or valuation less depreciation.
Depreciation is calculated to write off the value on a straight line basis over the expected useful economic life
as follows:
Freehold Properties: |
Over 50 Years |
Office equipment |
Over 4 Years |
Investments are valued at market value as at 31st December 2008.
The financial statements include the following amounts paid to the independent examiner:
2020
2019
€
€
Fee for Independent Examination of financial statements
1440
1440
Accountancy in respect of new accounting system.
1440
1440
1 Incoming Resources
Unrestricted
funds
Restricted
funds Property Fund
Total Funds
2020
2020
2020
2020
€
€
€
€
a) Voluntary
Planned Giving
Net Covenants and Gift Aid
10,330
-
10,330
Tax Refunds
2,511
-
2,511
Uncovenanted
200
-
200
Collections in Church
602
-
602
Sales
74
-
74
Sequestration Income
622
622
Sundry Donation and bequests
666
-
666
15,005
-
-
15,005 |
2019
€
13,020
3,657
200
2,802
28
414
3,602 |
|
23,723 |
7
PARISH OF ST STEPHEN'S, BUSH HILL PARK, ENFIELD NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2020
1 contd/
b) Other Ordinary
Fees
Interest
Grant for Church Hall Repairs
c) Investment
Letting Church Properties
Rent
d) Income From Church Hall
Lettings
2 Resources Expended
a) The Ministry
Vicar - Expenses
Locum - Expenses
b) The Church and Services
Heating and lighting
Insurance and Water
Upkeep of Services
Churchyard and Memorial Garden
Repairs |
Unrestricted
funds
Restricted
funds Property Fund
Total Funds
2020
2020
2020
2020
€
€
€
€
87
-
-
87
135
-
-
135
-
-
-
222
-
-
222
16,800
-
-
16,800
16,800
-
-
16,800
25,920
-
-
25,920
25,920
-
-
25,920
200
-
-
200
-
-
-
200
-
-
200
1,820
-
1,820
7,931
-
7,931
905
-
905
2,780
-
2,780
2,246
-
2,246
15,682
-
-
15,682 |
2019
€
1,486
170
- |
|
|
1,656 |
|
|
16,800 |
|
|
16,800 |
|
|
70,420 |
|
|
70,420 |
|
|
1,007
0 |
|
|
1,007 |
|
|
5,067
7,671
4,731
5,712
5,261 |
|
|
28,442 |
8
PARISH OF ST STEPHEN'S, BUSH HILL PARK, ENFIELD NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2020
2 contd/
c) Other Ordinary
Administration expenses
Depreciation
London Diocesan Common Fund
London Diocesan Other Fees
Donations to Missionary Societies
Payments for Charitable Purposes
Sequestration Expenditure
Other Trading & Fundraising Expenses
Accountancy
d) Investment
Agents Fees
Insurance & Rates
Repairs
e) Church Hall Expenditure
Light and heat
Rates, insurance and water
Repairs and maintenance
Cleaning
Major Works -
Depreciation
Performing Rights
Postage, phone and stationery |
Unrestricted
funds
Restricted
funds Property Fund
Total Funds
2020
2020
2020
2020
€
€
€
€
1,048
-
-
1,048
154
-
-
154
28,000
-
-
28,000
-
-
-
-
-
-
504
-
-
504
622
622
-
-
-
1,680
-
-
1,680
32,008
-
-
32,008
1,008
-
-
1,008
552
-
-
552
945
-
-
945
2,505
-
-
2,505
4,408
-
-
4,408
3,101
-
-
3,101
2,549
-
-
2,549
4,062
-
-
4,062
4,835
-
-
4,835
20,000
-
-
20,000
1,453
-
-
1,453
90
-
-
90
40,498
-
-
40,498 |
2019
€
327
27,000
475
20
291
414
-
1,680 |
|
|
30,207 |
|
|
1,787
528
1,880 |
|
|
4,195 |
|
|
5,356
3,516
8,321
7,997
29,750
20,000
1,827
98 |
|
|
76,865 |
9
PARISH OF ST STEPHEN'S, BUSH HILL PARK, ENFIELD NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2020
3 Fixed Assets
(a)
Tangible
Cost or Valuation
As at 1st Janaury 2020
Additions at revaluation
As at 31st December 2020
Depreciation
As at 1st Janaury 2020
Charge for the Year
As at 31st December 2020
Net Book Value
As at 31st December 2020
As at 31st December 2019 |
Land &
Buildings
2020
€
1,000,000
-
1,000,000
240,000
20,000
260,000
740,000
760,000 |
Office
Equipment
2020
€
3,028
615
3,643
3,028
154
3,182
461
- |
Total Assets
2020
€
1,003,028
615 |
|
|
|
1,003,643 |
|
|
|
243,028
20,154 |
|
|
|
263,182 |
|
|
|
740,461 |
|
|
|
760,000 |
Land Buildings which comprise of the Church hall have been included this year at market value as at
31st December 2008.
(b) Investments
Cost or Revaluations as at 1st January
2015
Revaluation Gain
As at 31st December 2015 |
2020
€
300,000
-
300,000 |
2019
€
300,000
- |
|
|
300,000 |
The Investment represents the Former Curate's house owned by the Parish at Uvedale Road.
The House was previously shown at its cost in 1962. The property is now shown at
its market value as at 31st December 2008.
10
PARISH OF ST STEPHEN'S, BUSH HILL PARK, ENFIELD NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2020
4
Debtors
Lettings - Hall
Tax Refund
Prepayments and Accrued Income
Church
Hall
Uvedale Road
5
Creditors
Accruals
6
Restricted Funds
Memorial Garden
Heating Fund
Vestry Upkeep
Miscellaneous |
2020
€
-
2,511
1,642
2,588
256
6,997
2020
€
3,249
3,249
As at 1st
Janaury 2020
Income
from
donations
€
€
776
-
-
-
810
-
-
- |
2019
€
815
3,657
1,249
2,369
256
8,346
2019
€
5,517
5,517
Expenses
As at 31st
December
2020
€
€
-
776
-
-
-
810
-
- |
|
1,586
- |
-
1,586 |
7 Staff Costs
No PCC members received any remuneration or any taxable benefits during the financial year under
review.
8 Related Parties
No Payments or expenses were paid to any PCC member, persons closely connected to them or related
parties.
Donations from related parties (PCC members) amounted to €3,782 (2019: €6,278) during the
financial year.
11
PARISH OF ST STEPHEN'S, BUSH HILL PARK, ENFIELD INDEPENDENT EXAMINER'S REPORT TO THE PCC OF ST STEPHEN'S
I report on the accounts for the year ended 31 December 2020 which are set out on pages 5 and 11.
Respective responsibilities of the PCC, Trustees and the examiner
The charity'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;
-
follow the procedures laid down in the General Directions given by the
-
Charity Commissioners section 145 (5) (b) of the 2011 Act; and
-
state whether particular matters have come to my attention.
Basis of Independent Examiner's statement
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 PCC and a comparison of the
accounts with those records. It also includes considering 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; or
-
to prepare accounts which accord with the accounting records and comply with the requirements of the Act and the Regulations 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.
Mr Mahesh Vaswani FCA
Vaswani & Co
29a Hendon Avenue
Finchley Central
London N3 1UJ
Date:
12