## **`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 ```