## ## |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|