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|Contents|||Page|
|---|---|---|---|
|Annual
Report|||1-6|
|Statement
of Parochial|Church|Council Responsibilities|7|
|Report ofthe Independent
Auditors|||8-10|
|Statement ofFinancial|Activities||11|
|Balance Sheet|||12|
|Cash flow statement|||13|
|Notes to the Financial|Statements||14-23|
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|with the Church|Representation
Rules.
During|the|year the f|ollowing
served as members
ofthe|
|---|---|---|---|---|
|Incumbent|Revd Rupert Charkham||||
|Associate Vicar:|Revd Matthew
White||||
|Curate:|Revd Sam Banner||||
|Churchwardens:|David Munns||||
||iona Thorne (resigned
and appointed|||as elected member 24 May 2022)|
||Ruth Williams
(appointed|24 May 2022)|||
|Deanery Synod:|Anneliese
Blackwood||||
|Representatives:|Alice Vink||||
||Ruth Williams
(appointed|Church Warden 24 May 2022)|||
||Ken Wiseman||||
|Elected members:|Lidia Assefaw (appointed|24 May 2022)|||
||Tola Babatunde
(appointed||24 May 2022)||
||Marylois Beard||||
||Helena Boase (appointed|24 May 2022)|||
||Michael Bradley||||
||Dominic Brown||||
||John Cameron
(resigned|24|May 2022)||
||Felicity Hunt (Hon Treasurer)||||
||Daniel Jeavons (resigned|24 May 2022)|||
||Fredrick Meissner (appointed||24 May|2022)|
||Matthew Passante
(resigned||24 May 2022)||
||Rachel Senior (resigned|24|May 2022)||
||iona Thorne (appointed
24 May 2022)||||
||Grace Wort||||
|Secretary;|Ken Wiseman||||
|Electoral Roll|||||
|The 2022 Church|Electoral Roll was 195.||||
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||||||Unrestricted|Unrestricted|Restricted|Restricted|Total||
|---|---|---|---|---|---|---|---|---|---|---|
||||||Funds||Funds||Funds||
|||||||f|f|f||f|
|||||Note|2022|2021|2022|2021|2022|2021|
|Income and|||||||||||
|endowments|from||||||||||
|Donations
and|legacies|||2(a)|589,833|449,073|7,200|22,959|597,033|472,032|
|Investments||||2(b)|112,119|111,128|||112,119|111,128|
|Charitable
activities||||2(c)|51,216|42,937|||51,216|42,937|
|Furlough
payments|||||||||||
|claimed||||2(d)||15,427||||15,427|
|Total income|and||||||||||
|endowments|||||753.168|618 565|7,2DD|22,959|76D,368|641,524|
|Expenditure
on|||||||||||
|Charitable
activities||||3(a)|695,464|638,092|11,464|49,301|706,928|687,393|
|Total expenditure|||||695,464|638,092|11,464|49,301|706,928|687,393|
|Net income
/|||||||||||
|(expenditure)|before||||||||||
|gains
/ (losses) on|||||||||||
|investments|||||57,704|(19,527)|(4,264)|(26,342)|53,440|(45,869)|
|Unrealised
gain/(loss)|||on||||||||
|investments||||6|50,820|253,315|||50 820|253315|
|Net income
/|||||108,524|233,788|(4,264)|(26,342)|104,260|207,446|
|(expenditure)
Transfers
between||funds||11|~189||189||||
|Net movement|in funds||||108,335|233,788|(4,075)|(26,342)|104,260|207,446|
|Reconciliation|offunds||||||||||
|Total funds brought|||||||||||
|forward|||||2,533,995|2,300,207|9,013|35,355|2,543,008|2,335,562|
|Total funds carried|||||||||||
|forward|||||2,642,330|2,533,995|4,938|9,013|2,647,268|2,543,008|
|||||Note|2022|2021|
|---|---|---|---|---|---|---|
||||||f|F|
|Fixed assets|||||||
|Tangible fixed assets|||||676,797|682,063|
|Investinents|||||1,805,861|1,935,042|
||||||2,482,658|2,617,105|
|Current assets|||||||
|Debtors||||7|37,650|34,476|
|Cash at bank and||in|hand|12|314,319|207,123|
||||||351,969|241,599|
|Creditors:|amounts||falling due within one year|8|147,907|176,244|
|Net current assets|||||204,062|65,355|
|Total assets less||current liabilities|||2,686,720|2,682,460|
|Creditors|falling due||after more than one year||39,452|139,452|
|Net assets|||||2,647,268|2,543,008|
|Funds|||||||
|Unrestricted||||10|2,642,330|2,533,995|
|Restricted|income|||10,11|4,938|9,013|
||||||2,647,268|2,543,008|
##
|||||2022|2021|
|---|---|---|---|---|---|
|Net cash used
in operating
activities|(see Note i):|||(174,962)|(218,756)|
|Cash flows from investing
activities:||||||
|Dividends
& interest received|||12,123||11,128|
|Lease income|||99,996||100,000|
|Net addition
to fixed assets|||(9,962)||(10,086)|
|New investment
made||||||
|Realisation
ofinvestments|||180,000|||
|Net addition
Ioshare investment||||||
|Net cash provided
by (used in) investing||activities||282,157|101,042|
|Change
in cash and cash equivalents|during the year|||107,196|(117,714)|
|Cash and cash equivalents
at the beginning||ofthe year||207,123|324,837|
|Cash and cash equivalents
at the end of||the year (see|Note ii)|314,319|207,123|
|Note
i - Reconciliation
ofnet income|/ (expenditure)|||||
|to net cash flow from operating
activities||||||
|Net income
/ (expenditure)
before gains||||53,440|(45,869)|
|Adjustments
for:||||||
|Depreciation
charges 8 loss on disposal||||15,228|11,633|
|Dividend
&interests
from investments||||(112,119)|(111,128)|
|(Increase) / decrease
in debtors||||(3,174)|10,319|
|Increase
/ (decrease)
in creditors||||~128.337|~83,777|
|Net cash provided
by (used in) operating||activities||174,962|218,756|
|Note
ii - Analysis ofcash and cash equivalents||||||
|Cash in hand||||41,205|55,995|
|Notice deposits (less than 3months)||||273,114|151,128|
|||||314,319|207,123|
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|after 31"December.
Movements|during the year w|
ere as follows:||
|---|---|---|---|
|Deferred income||2022|2021|
||||S|
|Opening
balance||240,279|341,060|
|Rents and other income relating|to current year|(350)|(781)|
|Rents and other income relating|to future periods|||
|Lease income received||||
|Lease income released||~99,999|~100,000|
|Closing balance||139,933|240,279|
|FOR|THE YEAR ENDED 31sr DECE|THE YEAR ENDED 31sr DECE|THE YEAR ENDED 31sr DECE|MBER 2022|||||
|---|---|---|---|---|---|---|---|---|
|2|INCOME AND ENDOWMENTS|||FROM|||||
|||||Unrestricted|Restricted||Total|Total|
|||||Funds|Funds||2022|2021|
||||||||F||
|(a)|Donations
and|legacies|||||||
||Gift Aid donations|||259,633||1,520|261,153|208,334|
||Tax recoverable|||64,517||380|64,897|52,075|
||Church plate collections|||1,444|||1,444|1,068|
||Other donations|||264,239||5,300|269,539|210,555|
|||||589,833||7,200|597,033|472,032|
|(b)|Investments||||||||
||Rent - other properties||||||||
||Bank interest received|||12,123|||12,123|11,128|
||Lease income|||99,996|||99,996|100,000|
|||||112,119|||112,119|111,128|
|(c)|Charitable
activities||||||||
||Rent - St Michael's||Church|42,284|||42,284|32,130|
||Fees|||5,203|||5,203|5,865|
||Other church activities|||3,729|||3,729|4,942|
|||||51,216|||51,216|42,937|
|(d)|Furlough
payments||claimed|||||15,427|
|||||753,168||7,200|760,368|641,524|
|3|EXPENDITURE|ON|||||||
|||||Activities|Grant|Support|||
|||||Directly|funding|Costs|Total|Total|
|||||undertaken|(4a &b)|(3d)|2022|2021|
|||||E||E||E|
|(a)|Charitable
activities||||||||
||Mission support|and|||||||
||outreach||||71,764||71,764|104,244|
||Ministry:||||||||
||Diocesan quota|||147,550|||147,550|113,858|
||Other ministry|costs||59,962||111,844|171,806|153,929|
||Church
activities|||39,335|||39,335|33,733|
||Other activities|- bookstall,|||||||
||groups, etc.|||8,784|||8,784|8,428|
||Church
running|expenses||||33,337|33,337|29,850|
||Church maintenance—||||||||
||repairs and renewals|||||16,861|16,861|79,914|
||Management
and||||||||
||administration|||||210,879|210,879|158,031|
||Governance
costs|||||6,612|6,612|5,406|
|||||255,631|71,764|379,533|706,928|687,393|
|||||||||Page 17|
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|FOR|THE YEAR ENDED 31sr|DECEMB|ER 2022||||
|---|---|---|---|---|---|---|
|4|GRANTS PAYABLE||||||
||||Unrestricted|Restricted|Total Funds|Total Funds|
||||Funds
f|Funds
f|2022f|2021f|
|(a)|Grants to institutions||||||
||Abraham's
Oasis|||||1,500|
||Besom|||||3,183|
||Grace Church||194|999|1,193||
||International
Justice Mission||2,000||2,000||
||In Deep||1,000||1,000||
||LDF Outreach||11,550||11,550|12,600|
||London
City Mission||2,400|1,000|3,400|2,400|
||Mission Aviation
Fellowship||3,000|500|3,500|3,500|
||Pimlico Foundation||6,000|825|6,825|6,825|
||Polish Church re Ukrainian|refugees|2,000||2,000||
||Soul Survivor||5,000||5,000||
||St Barnabas
Homerton||4,700||4,700|3,000|
||St Michael's
Kilolo School||2,157||2,157|3,240|
||The Gate at Westminster||6,000||6,000|6,000|
||Westminster
Food Bank|||3,400|3,400|2,400|
||Total grants to institutions||46,001|6,724|52,725|44,648|
||||Unrestricted|Restricted|Total Funds|Total Funds|
||||Funds|Funds|2022|2021|
|(b)|Grants to individuals||f||f|f|
||Outreach
&poverty
relief||||||
||Clergy,
ministry
&training||13,713|4,430|18,143|40,176|
||Other gifts||896||896|19,420|
||Total grants to individuals||14,609|4,430|19,039|59,596|
||Total grants
payable||60,610|11,154|71,764|104,244|
##
||||Freehold|Equipment|Fixtures L||Total|
|---|---|---|---|---|---|---|---|
||||Property
f||Fittings
f|||
|Cost||||||||
|At 1 January 2022
Additions
Disposals
At 31 December 2022|||615,776
615,776|100,471
4,048
~5,232
99,287|94,925
5,980
~752
100,154|811,172
10,028
~5.983
815,217||
|Depreciation||||||||
|At 1 January 2022
Charge for the year
Release re disposals||||86,619
6,247
~5,232|42,491
8,980
~686|129,110
15,227
~5,917||
|At 31 December|2022|||87,634|50,785||138,420|
|Net book value||||||||
|At 31 December|2022||615,776|11,653|49,368||676,797|
|9 At 31 December|2021||615,776|13,852|52,434||682,062|
|The freehold
property||is 24 Sullivan
Road.||||||
|INVESTMENTS||||||||
||||||2022||2021|
|Freehold||||||||
|Fair value brought|forward||as at 1 January|2022|1,500,000||1,300,000|
|Revaluation|||||100,000||200,000|
|Fair value carried|forward||as at 31 December 2022||1,600,000||1,500,000|
|Share investment||||||||
|Fair value brought|forward||as at 1 January|2022|430,042||376,727|
|Additions I(disposals)
Revaluation||in the year|||(180,000)
~49,189||53,315|
|Fair value carried|forward||as at 31 December 2022||200,862||430,042|
|Bond||||||||
|Fair value brought|forward||as at 1 January|2022||5,000|5,000|
|Additions
in the year||||||||
|Fair value carried|forward||as at 31 December 2022|||5,000|5,000|
|Total investments|||||1,805,882||1,935,042|
|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|DEBTORS||||||||2022f|2021
6|
|Trade debtors||||||||4,180|1,895|
|Other debtors||||||||11,821|10,492|
|Prepayments||||||||21,649|22,089|
|||||||||37,650|34,476|
|CREDITORS:|Amounts|||falling due|within one year|||2022|2021|
|||||||||6|E|
|Trade creditors||||||||5,427|3,730|
|Accruals and deferred||||income||||137,184|167,375|
|Payroll taxes due||||||||4,384|4,273|
|Pension payment||due||||||912|866|
|||||||||147,907|176,244|
|CREDITORS:|Amounts|||falling due|after more than one||year|2022|2021|
|||||||||F.||
|Deferred income from||||Sicily lease|due within two years|||39,452|139,452|
|Deferred income from||||Sicily lease|due within three to four years|||||
|Grants payable|within||two years|||||||
|Grants payable|within||three years|||||||
|||||||||39,452|139,452|
|ANALYSIS OF NET|||ASSETS BETWEEN FUNDS|||||||
||||||Tangible|||Other net||
||||||fixed assets|Investments||assets|Total|
||||||F||6|||
|Unrestricted
funds|||||676,797||1,805,861|159,672|2,642,330|
|Restricted
income||funds||||||4,938|4,938|
||||||676,797||1,805,861|164,610|2,647,268|
|Comparative|figures|||for 2021||||||
|Unrestricted
funds|||||682,063||1,935,042|(83,110)|2,533,995|
|Restricted
income||funds||||||9,013|9,013|
||||||682,063||1,935,042|(74,097)|2,543,008|
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|CASH AT BANK AN|D IN HAND|||
|---|---|---|---|
|||2022|2021|
|||F||
|National
Westminster|-current account|30,869|36,984|
|Vicar's Discretionary|Account|1,446|1,446|
|Petty Cash 8 Paypal|account|143|5,614|
|Barclays - deposit account||6,381|9,378|
|Barclays - current account||2,366|2,573|
|CCLA - deposit account||273,114|151,128|
|||314,319|207,123|
##
|The total future
minimu|m
lease|payments
under n|on-cancellable
operating
le|on-cancellable
operating
le|
|---|---|---|---|---|
||||Equipment||
||||2022|2021|
|||||E|
|Within one year|||116|1,392|
|Within two to five year||||116|
||||116|1,508|
|The operating
lease charges for the year were:|||||
|Hire ofequipment|||1,392|1,392|
||||Property||
||||2022|2021|
||||E|E|
|Within one year|||33,538||
|Within two to five year|||134,152||
|More than five years|||276,023||
||||443,713||
|The property lease charges for the year were:|||||
|Rent paid for property|occupied|by staff|33,177|30,600|