2020-12-31-accounts

Contents			Page
Annual Report			1-7
Statement of Parochial	Church	Council Responsibilities	8
Report ofthe Independent Auditors			9-11
Statement of Financial	Activities		12
Cash flow statement			13
Balance Sheet			14
Notes to the Financial	Statements		15-24

with the Church Rep	resentation Rules. During t	resentation Rules. During t	he year the	he year the	following served as
Incumbent:	Revd Rupert Charkham		(appointed		10September 2020)
Curate:	Revd Guy Axelson
Churchwardens:	David Munns
	Iona Thorne
Deanery Synod:	Anneliese Blackwood	(appointed		29 Nov 20)
Representatives:	Sian Davies (resigned	29 Nov 20)
	Kate Homan (resigned	29 Nov 20)
	Alice Vink (appointed	29	Nov 20)
	Ruth Williams (appointed		29 Nov	20)
	Ken Wiseman
Elected members:	Marylois Beard
	Michael Bradley
	Dominic Brown (appointed 29 Nov 20)
	John Cameron
	Jack Campbell
	Felicity Hunt (Hon Treasurer)
	Rachel Senior
	Will Weaver
	Grace Wort
Secretary:	Ken Wiseman

					Unrestricted	Unrestricted	Restricted	Restricted	Total	Total
					Funds		Funds		Funds
					f	f	f	f	f	f
				Note	2020	2019	2020	2019	2020	2019
Income and
endowments	from
Donations and legacies				2(a)	406,877	526,927	43,462	26,192	450,339	553,119
Investments				2(b)	118,376	113,380			118,376	113,380
Charitable activities				2(c)	51,413	82,170	-	15,311	51,413	97,481
Furlough payments
claimed				2(d)	16,401				16,401
Total income	and
endowments					593,067	722,477	43,462	41,503	636,529	763,980
Expenditure	on
Charitable activities				3(a)	618,093	675,328	13,850	44,792	631,943	720,120
Total expenditure					618,093	675,328	13,850	44,792	631,943	720,120
Net income I
(expenditure)	before
gains I (losses) on investments					(25,026)	47,149	29,612	(3,289)	4,586	43,860
Unrealised gain/(loss) investments			on	6	~75,766	~391,862			~75,766	~391,862
Net income I					(100,786)	(344,653)	29,612	(3,289)	(71,174)	(347,942)
(expenditure)
Transfers between		funds		11				4,633
Net movement	in funds				(100,786)	(349,286)	29,612	1,344	(71,174)	(347,942)
Reconciliation	offunds
Total funds brought
forward					2,400,993	2,750,279	5,743	4,399	2,406,736	2,754,678
Total funds carried
forward					2,300,207	2,400,993	35,355	5,743	2,335,562	2,406,736

				2020	2019
				E	F
Net cash from operating activities (see Note i):				(173,705)	354,867
Cash flows from investing activities:
Dividends 8 interest received			14,431		6,777
Lease income			103,945		106,603
Net addition to fixed assets			(13,683)		(77,618)
New investment made					(150,000)
Decrease in investments (now in current	assets)
Net addition to share investment
Net cash provided by (used in) investing		activities		104,693	(114,238)
Change in cash and cash equivalents	during the year			(69,012)	240,629
Cash and cash equivalents at the beginning		ofthe year		393,849	153,220
Cash and cash equivalents at the end of		the year (see	Note ii)	324,837	393,849
Note i - Reconciliation of net income	/ (expenditure)
to net cash flow from operating activities
Net income before gains				4,586	43,860
Adjustments for:
Depreciation charges &loss on disposal				13,335	22,496
Dividend 8 interests from investments				(118,376)	(113,380)
(Increase) / decrease in debtors				9,729	(11,181)
Increase / (decrease) in creditors				~82,979	413,072
Net cash provided by (used in) operating		activities		173,705	354,867
Note ii - Analysis ofcash and cash equivalents
Cash in hand				73,802	143,876
Notice deposits (less than 3 months)				251,035	249„973
				324,837	393,849

				Note	2020	2019
Fixed assets
Tangible fixed assets					683,610	683,262
Investments					1,681,727	1,757,487
					2,365,337	2,440,749
Current assets
Debtors				7	44,795	54,524
Cash at bank and		in	hand	12	324,837	393,849
					369,632	448,373
Creditors:	amounts		falling due within one year	8	159,955	142,934
Net current assets					209,677	305,439
Total assets less		current liabilities			2,575,014	2,746, 'I 88
Creditors	falling due		after more than one year		239,452	339,452
Net assets					2,335,562	2,406,736
Funds
Unrestricted				10	2,300,207	2,400,993
Restricted	income			10,11	35,355	5,743
					2,335,562	2,406,736

after 31"December. Movements	during the year w	ere as follows:
Deferred income		2020f	2019 f
Opening balance		446,810	42,713
Rents and other income relating	to current year	(3,413)	(2,713)
Rents and other income relating	to future periods	1,608	3,413
Lease income received			510,000
Lease income released		~103,945	106,603
Closing balance		341,060	446,810

FOR	THE YEAR ENDED 31s~DECE	THE YEAR ENDED 31s~DECE	MBER	2020
2	INCOME AND ENDOWMENTS		FROM
			Unrestricted		Restricted		Total	Total
				Funds	Funds		2020	2019
				F		f	f.
(a)	Donations and legacies
	Gift Aid donations			177,214		5,981	183,195	241,931
	Tax recoverable			44,430		1,494	45,924	62,176
	Church plate collections			4,517			4,517	24,429
	Other donations			180,716		35,987	216,703	224,583
				406,877		43,462	450,339	553,119
(b)	Investments
	Rent - other properties
	Bank interest received			14,431			14,431	6,777
	Lease income			103,945			103,945	106,603
				118,376			118,376	113,380
(c)	Charitable activities
	Rent - St Michael's	Church		36,438			36,438	51,757
	Fees			1,911			1,911	6,342
	Other church activities			13,064			13,064	39,382
				51,413			51,413	97,481
(d)	Furlough payments	claimed		16,401			16,401
				593,067		43,462	636,529	763,980
3	EXPENDITURE ON
			Activities		Grant	Support
			Directly		funding	Costs	Total	Total
			undertaken		(4a &b)	(3d)	2020	2019
					F
(a)	Charitable activities
	Mission support and
	outreach				63,798		63,798	90,712
	Ministry:
	Diocesan quota		114,186				114,186	117,062
	Other ministry costs		72,956			79,868	152,824	154,030
	Church activities		85,328				85,328	95,012
	Other activities - bookstall,
	groups, etc.		7,217				7,217	34,829
	Church running expenses					33,690	33,690	37,734
	Church maintenance—
	repairs and renewals					13,116	13,116	35,670
	Management and administration					156,636	156,636	150,535
	Governance costs					5,148	5,148	4,536
			279,687		63,798	288,458	631,943	720,120
								Page 18

(b)	Staff costs				2020f	2019 f.
	Wages and	salaries			221,131	199,221
	Social security costs				13,345	11,835
	Pension costs				4,465	3,449
	Redundancy	costs			13,455
					252,396	214,505
	Average number ofemployees		Full time	equivalent	Headcount
			2020	2019	2020	2019
	Administration		7		13	'12
	Lay assistant	staff	1		1	1
			8		14	13

					2020	2019
					F
(d)	Support costs
	Staff costs				108,718	95,153
	Accommodation	expenses			65,600	73,243
	Other staff expenses				634	4,602
	Church running	and maintenance		expenses	46,862	73,404
	Office supplies	and postage			4,940	6,767
	Publicity and advertising				1,339	1,754
	Telephone				4,447	4,412
	IT costs				7,416	6,601
	Auditor's remuneration				5,148	4,536
	Legal 8 professional		fees		11,473	23,235
	Bad debt provision				18,000
	Bank charges				546	481
	Depreciation (Note 5)				13,335	22,496
					288,458	316,684

FOR	THE YEAR ENDED 3	isT DEC	EMB	ER 2020
4	GRANTS PAYABLE
				Unrestricted	Restricted		Total Funds	Total Funds
				Funds	Funds		2020	2019
							F
(a)	Grants to institutions
	All-Party Parliamentary	Group on
	International Religious Freedom		or
	Belief			1,200			1,200	2,400
	Besom				6,007		6,007	3,321
	Church Pastoral Aid Society							250
	CMJ UK							70
	LDF Outreach			12,600			12,600	11,980
	London City Mission			2,400			2,400	2,400
	Mission Aviation Fellowship			3,000			3,000	3,618
	Music 8 Worship Foundation							500
	Operation Mercy							3,006
	Pimlico Foundation			6,100		825	6,925	3,225
	Royal British Legion re poppy appeal							66
	Serbian Evangelical Alliance			581			581	6,000
	St Barnabas Homerton			3,000			3,000
	St Michael's Kilolo School			5,300			5,300	11,999
	The Freedom Story			765			765
	The Gate at Westminster			6,000			6,000	6,000
	Westminster Food Bank			2,900			2,900	3,018
	Total grants to institutions			43,846	6,832		50,678	57,853
				Unrestricted	Restricted		Total Funds	Total Funds
				Funds	Funds		2020	2019
(b)	Grants to individuals			F			E
	Outreach &poverty relief				1,323		1,323
	Clergy, ministry B training			5,895			5,895	14,444
	Other gifts			207	5,695		5,902	18,415
	Total grants to individuals			6,102	7,018		13,120	32,859
	Total grants payable			49,948	13,850		63,798	90,712

			Freehold	Freehold	Equipment	Fixtures	&	Total
			Property			Fittings
Cost
At 1 January 2020			615,776		92,126	80,773		788,675
Additions					6,181	7,558		13,739
Disposals					1,328			1,328
At 31 December	2020		615,776		96,979	88,331		801,086
Depreciation
At 1 January 2020					77,364	28,049		105,413
Charge for the year					6,117	7,218		13,335
Release re disposals					1,272			1,272
At 31 December	2020				82,209	35,267		117,476
Net. book value
At 31 December	2020		615,776		14,770	53,064		683,610
At 31 December	2019		615,776		14,762	52,724		683,262
The freehold property		is 24 Sullivan		Road.
INVESTMENTS
							2020	2019
Freehold
Fair value brought	forward		as at 1 January		2020	1,400,000		1,825,000
Revaluation							(100,000)	(425,000)
Fair value carried	forward		as at 31 December 2020			1,300,000		1,400,000
Share investment
Fair value brought	forward		as at 1 January		2020		352,487	169,289
Additions in the year								150,000
Revaluation							24,240	33,198
Fair value carried	forward		as at 31 December 2020				376,727	352,487
Bond
Fair value brought	forward		as at 1 January		2020		5,000	5,000
Additions in the year
Fair value carried	forward		as at 31 December 2020				5,000	5,000
Total investments							1,681,727	1,757,487

7	DEBTORS							2020	2019
									F
	Trade debtors							353	2,585
	Other debtors							23,485	26,079
	Prepayments							20,957	25,860
								44,795	54,524
8	CREDITORS: Amounts		falling due	within one	year			2020	2019
	Trade creditors							13,861	12,406
	Accruals and deferred		income					138,109	125,591
	Payroll taxes due							6,932	4,077
	Pension payment	due						1,053	860
								159,955	142,934
9	CREDITORS: Amounts		falling due	after more	than one		year	2020	2019
	Deferred income from		Sicily lease	due within	two years			200,000	200,000
	Deferred income from		Sicily lease	due within	three to four years			39,452	139,452
	Grants payable within two years
	Grants payable within three years
								239,452	339,452
0	ANALYSIS OF NET ASSETS BETWEEN FUNDS
				Tangible				Other net
				fixed assets		Investments f		assets	Total
	Unrestricted funds			683,610			1,681,727	(65,130)	2,300,207
	Restricted income	funds						35,355	35,355
				683,610			1,681,727	29,775	2,335,562
	Comparative figures		for 2019
	Unrestricted funds			683,262			1,757,487	(39,756)	2,400,993
	Restricted income	funds						5,743	5,743
				683,262			1,757,467	~34,013	2,406,736

CASH AT BANK AN	D IN HAND
		2020	2019
			F
National Westminster	- current account	24,628	58,566
Vicar's Discretionary	Account	1,446	1,446
Petty Cash & Paypal	account	3,186	220
Barclays - deposit account		39,374	80,327
Barclays - current account		5,168	3,317
CCLA - deposit account		251,035	249,973
		324,837	393,849

		Equipment	Equipment
		2020	2019
Within one year		1,392	696
Within two to	five year	1,508
		2,900	696
The operating	lease charges for the year were:
Hire of equipment		1,915	2,088