| Trustees' Annual report |
Trustees' Annual report |
2 —12 | |
|---|---|---|---|
| Statement ofParochial | Church Council (PCC) responsibilities | 13 | |
| Independent auditor's |
report to the PCC ofSt Stephen's | Church | |
| Statement ofFinancial | Activities | 17 | |
| Balance Sheet | 18 | ||
| Statement ofcash flows | 19 | ||
| Notes to the accounts | 20-28 |
| Register is next due to be Advisers and Auditors |
Register is next due to be Advisers and Auditors |
Register is next due to be Advisers and Auditors |
reviewed in the second quart |
reviewed in the second quart |
reviewed in the second quart |
er of2022. | ||||
|---|---|---|---|---|---|---|---|---|---|---|
| A resolution to re-appoint | our auditors, MGI Midgley | Snelling LLP,Ibex | House, Baker | Street, Weybridge, | Surrey, KT13 | |||||
| 8AH will be | put to the Annual | Parochial Church Meeting. | ||||||||
| The Charity's | bankers | and investment managers |
are | CCLA Investment | Management | Ltd, Senator House | 85 Queen | |||
| Victoria Street, London, | EC4V 4ETand Barclays | Bank PLC, I Churchill | Place, London, E14SHP. | |||||||
| The members | who held | office | from 1 January 2021 until the date ofsignature ofthis report and the accounts |
were: | ||||||
| Chair | Colin Matthews (SC, | |||||||||
| P&S) | ||||||||||
| Clergy | Rev. Jez Bames (SC, | Rev. Hugo Foxwood (to June | ||||||||
| M&M, P&S) | 2021) | |||||||||
| Rev. Rachel Bedford | Rev. Dave Cokayne (M&M) | |||||||||
| (M&M) | ||||||||||
| Wardens | Colin Matthews | Sarah Gough (SC,FAB, | ||||||||
| (SC,P&S) | M&M Chair, P&S) | |||||||||
| Secretary and lay members | Julie Haworth | Caroline Perry | Nicola Patel (Secretary, | |||||||
| (Secretary | (Note-taker, co-opted, |
co-opted, non-voting, | SC, | |||||||
| to June 2021) | M&M) | FAB,P&S (from May | ||||||||
| 2021) | ||||||||||
| Lay readers | Les Taylor (M&M) | Jo Dixon | ||||||||
| Deanery Synod members | David Parish | Tony Dixon (FAB) | Anne Warren | |||||||
| Mike Wilkinson | Bob Miller (to | May 2021) | Jasmine Morse-Woolford |
|||||||
| (to May 2021) | ||||||||||
| Sandra Jennings | Zac Jopling (M&M) | |||||||||
| Elected lay members | Jen McCole (P&S | Jeannie Mee | Mike Wainer (FAB) | |||||||
| Chair, SC) | (P&S) |
| Notes | 2021 | 2021 | 2021 | 2020 | 2020 | 2020 | ||
|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | |||
| Funds | ~Ftnds | Funds | Funds | Fends | Funds | |||
| INCOME FROM: | ||||||||
| Donations and legacies |
||||||||
| Voluntary Income from |
Donors | 855,708 | 29,404 | 885,112 | 946,524 | 6,702 | 953,226 | |
| Other voluntary income |
50,000 | 50,000 | 21,984 | 21,984 | ||||
| 905,708 | 29,404 | 935,112 | 968,508 | 6,702 | 975,210 | |||
| Charitable activities |
91,003 | 91,003 | 65,518 | 65,518 | ||||
| Investment income - interest |
67 | 69 | 597 | 599 | ||||
| TOTAL INCOME | 2 | 996,778 | 29,406 | 1,026,184 | 1,034,623 | 6,704 | 1,041,327 | |
| EXPENDITURE ON: | ||||||||
| Charitable activities |
1,014,962 | 58,890 | 1,073,852 | 914,981 | 63,305 | 978,286 | ||
| TOTAL EXPENDITURE | 3 | 1,014,962 | 58,890 | 1,073,852 | 914,981 | 63,305 | 978,286 | |
| Net income/(expenditure) | (18,184) | (29,484) | (47,668) | 119,642 | (56,601) | 63,041 | ||
| Gross transfers between |
funds | 12 | 2,101 | 2,101 | 34,992 | 34,992 | ||
| Net movement in funds |
(20,285) | (27,383) | (47,668) | 84,650 | (21,609) | 63,041 | ||
| RECONCILIATION | OF FUNDS | |||||||
| Total funds brought forward |
986,445 | 1,170,043 | 2,156,488 | 901,795 | 1,191,652 | 2,093,447 | ||
| TOTAL FUNDS CARRIED FORWARD | 16 | 966,160 | 1,142,660 | 2,108,820 | 986,445 | 1,170,043 | 2,156„488 |
| BOZO | ||||||||
|---|---|---|---|---|---|---|---|---|
| Notes | g | g | ||||||
| Tangible F12ted asseb |
1,737,849 | 1,757,154 | ||||||
| Current assets | ||||||||
| Debtors Cash at bank and in |
hand | 10 | 119„947 317,017 |
52,062 391/21 |
||||
| 443,283 | ||||||||
| Credltotw: falling dne |
ivithht | one year | 11 | ~(65,993 | ~(43.949 | |||
| Net current assets | 370,971 | 399,334 | ||||||
| Net assets less current | liabilities | 2,108,820 | 2,I56,488 | |||||
| Net assets | 2.108820 | 2,156,488 | ||||||
| Reserves | ||||||||
| Restricted funds' | ||||||||
| Ctossw82y Vicar's discretionary Hardship fund Christchurch Pelthtun |
fund | 12 1,2 12 12 |
1,132,876 3,746 5,807 60 |
1,162,264 1,994 5,785 |
||||
| C31obal I."ngagement | fund | 12 | 131 | |||||
| Un& estricted funds". |
1,142,660 | 1„170.@3 | ||||||
| Ctcncrai fund Fixed asset reserve |
13 13 |
361,187 401.933 |
391,555 594,890 |
|||||
| 966,160 | ||||||||
| 2,108.820 | 2,156388 |
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Cash flows from operating | activities | (33,923) | 131,389 | ||
| Cash flows from investing | activities | ||||
| Purchase offixed assets | (40,281) | (50,270) | |||
| Cash flows from financing | activities | ||||
| Change in cash and cash equivalents |
in the | year | (74,204) | 81,119 | |
| Cash and cash equivalents | at the beginning | ofthe year | 391,221 | 310,102 | |
| Cash and cash equivalents | at the end | ofthe | year | 317,017 | 391,221 |
| 2021 | 2020 | |||
|---|---|---|---|---|
| Net income/(expenditure) | for the year | (47,668) | 63,041 | |
| Depreciation | 59,586 | 55,748 | ||
| (Increase)/decrease | in debtors | (67,886) | 32,797 | |
| Increase/(decrease) | in creditors | 22,044 | (20,198) | |
| (33,923) | 131,389 |
| 2 TOTAL INCOME |
||||||||
|---|---|---|---|---|---|---|---|---|
| 2021 | 2020 | |||||||
| General | General | |||||||
| Unrestricted | Resttdcted | Total | Unrestricted | Restricted | Total | |||
| Funds | Funds | Funds | Funds | |||||
| Voluntary income from donors | ||||||||
| Regular giving | 585,562 | 585,562 | 580,655 | 580,655 | ||||
| Income tax recoverable on standing |
orders | 125,507 | 125,507 | 123,743 | 123,743 | |||
| Single gifts | ||||||||
| direct &via charitable | agencies | 118,530 | 24,730 | 143,260 | 196,306 | 2,096 | 198,402 | |
| Income tax recoverable on single gifts |
24,673 | 4,001 | 28,674 | 36,548 | 120 | 36,668 | ||
| Collections at all services | 1,436 | 673 | 2,109 | 9,271 | 4,487 | 13,758 | ||
| 855,708 | 29,404 | 885,112 | 946,524 | 6,702 | 953,226 | |||
| Other voluntary incoming resources |
||||||||
| Grant income - COVID-19 | 19,806 | 19,806 | ||||||
| Legacies | 50,000 | 50,000 | 2,178 | 2,178 | ||||
| 50,000 | 50,000 | 21,984 | 21,984 | |||||
| Total Donations and legacies |
905,708 | 29,404 | 935,113 | 968,508 | 6,702 | 975,210 | ||
| Activities for generating funds | ||||||||
| Crossway &Church lettings | 26,431 | 26,431 | 19,435 | 19,435 | ||||
| Property rent | 48,537 | 48,537 | 37,204 | 37,204 | ||||
| 74,968 | 74,968 | 56,639 | 56,639 | |||||
| Incoming resources from charitable | activities | |||||||
| Little Acorns/Refresh | 1,386 | 1,386 | 1,899 | 1,899 | ||||
| Income from events (note 7) |
10,291 | 10,291 | 3,790 | 3,790 | ||||
| Fees | 4,358 | 4,358 | 3,190 | 3,190 | ||||
| 16,035 | 16,035 | 8,879 | 8,879 | |||||
| Total resources from charitable | 91,003 | 91,003 | 65,517 | 65,517 | ||||
| charitable activities |
||||||||
| Inlereslincome | ||||||||
| Vicar's discretionary fund |
2 | 2 | 2 | |||||
| Unrestricted fund |
67 | 67 | 597 | 597 | ||||
| Total investment income |
67 | 2 | 69 | 597 | 2 | 599 | ||
| Total incoming resources |
996,778 | 29,406 | 1,026,184 | 1,034,623 | 6,704 | 1,041,327 |
| 3 | TOTAL EXPENDITURE | TOTAL EXPENDITURE | TOTAL EXPENDITURE | TOTAL EXPENDITURE | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 2020 | |||||||||
| General | General | |||||||||
| Unrestricted | Restricted | Total | Unrestricted | Restri cted | Total | |||||
| Funds | Funds | Funds | Funds | |||||||
| g | g | |||||||||
| Grants —see note d | ||||||||||
| Global engagement | 19,308 | 28,500 | 47,808 | 21,008 | 30,215 | 51,223 | ||||
| VK engagement | 27,645 | 1,002 | 28,647 | 36,818 | 1,330 | 38,148 | ||||
| Common Fund |
—support to other | parishes | in | |||||||
| London Diocese | 85,000 | 85,000 | 85,000 | 85,000 | ||||||
| 131,953 | 29,502 | 161,455 | 142,826 | 31,545 | 174,371 | |||||
| Activities directly relating to the work ofthe church' | ||||||||||
| Common Fund |
—Parish standard | cost | 85,000 | 85,000 | 85,000 | 85,000 | ||||
| Additional clergy and parish costs |
51,404 | 51,404 | 71,014 | 2,372 | 73,386 | |||||
| Children's work |
71,777 | 71,777 | 86,676 | 86,676 | ||||||
| Youth work | 78,371 | 78,371 | 57,691 | 57,691 | ||||||
| Pastoral | 43,590 | 43,590 | 53,531 | 53,531 | ||||||
| Worship | 32,534 | 32,534 | 30,193 | 30,193 | ||||||
| Houses: rent, upkeep | &depreciation | 48,470 | 6,963 | 55,433 | 35,330 | 6,963 | 42,293 | |||
| Church running | costs &maintenance | 81,247 | 81,247 | 75,839 | 75,839 | |||||
| Service fees | 4,073 | 4,073 | 2,532 | 2,532 | ||||||
| Fees (CofE) | 2,433 | 2,433 | 1,067 | 1,067 | ||||||
| Events expenditure | (note 7) | 10,064 | 10,064 | 1,047 | 1,047 | |||||
| 508,962 | 6,963 | 515,925 | 499,920 | 9,335 | 509,255 | |||||
| Support costs - | see note 5 | |||||||||
| Administrative | &support staff | 137,597 | 137,597 | 90,190 | 90,190 | |||||
| Communication | and | publicity | 131,317 | 131,317 | 62,623 | 62,623 | ||||
| Church office | 42,294 | 42,294 | 58,246 | 58,246 | ||||||
| Bank charges | 515 | 515 | 500 | 500 | ||||||
| Crossway | 51,324 | 22,425 | 73,749 | 46,681 | 22,425 | 69,106 | ||||
| Governance costs - audit and other financial |
fees | 11,000 | 11,000 | 13,995 | 13,995 | |||||
| 374,047 | 22,425 | 396,472 | 272,234 | 22,425 | 294,659 | |||||
| Total cost ofcharitable activities |
1,014,962 | 58,890 | 1,073,852 | 914,981 | 63,305 | 978,286 |
| 2021 | 2020 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Global | UK | Global | UK | |||||||
| Engagement f |
engagement | Total g |
Engagement L |
engagement | Total g |
|||||
| Toinstitutions | ||||||||||
| Radstock Ministries | (Paul | Williams) | 3,938 | 3,938 | 3,938 | 3,938 | ||||
| Operation Mobilisation |
UK (Johnsons) | 1,800 | 1,800 | |||||||
| CPAS | 3,000 | 3,000 | 3,000 | 3,000 | ||||||
| Crossway Pregnancy |
Crisis Centre | 6,200 | 6,200 | 6,200 | 6,200 | |||||
| St Stephen's School |
6,800 | 6,800 | 6,800 | 6,800 | ||||||
| Crosslight | 3,000 | 3,000 | 13,500 | 13,500 | ||||||
| St Peters Church | 4,500 | 4,500 | ||||||||
| StMarys and St Albans | - | Activate | 3,000 | 3,000 | ||||||
| Athooch Diocese Sudan | 1,331 | 1,331 | ||||||||
| StPauls Hounslow | West Food Bank | 6,667 | 6,667 | |||||||
| 1 (2020:3)grants less | than 61,000 | 500 | 500 | 600 | 600 | |||||
| ~Gii i ~ *I |
||||||||||
| Tearfund | 8,000 | 8,000 | 8,294 | 8,294 | ||||||
| SOMA | 5,000 | 5,000 | 5,295 | 5,295 | ||||||
| ASHA | 15,500 | 15,500 | 15,295 | 15,295 | ||||||
| From Christmas collection |
||||||||||
| Resurgo SPEAR | 240 | 240 | ||||||||
| Toindividuals: | ||||||||||
| Bob&Becky Faber | 7,350 | 7,350 | 7,350 | 7,350 | ||||||
| Richard Gordon-Smith | 7,660 | 7,660 | 7,560 | 7,560 | ||||||
| 7(2020:5)grants less | than L1,500 | 360 | 1,647 | 2,007 | 360 | 1,141 | 1,501 | |||
| Total | 47,808 | 28,647 | 76,455 | 51,223 | 38,148 | 89,371 | ||||
| To the Diocese ofLondon | ||||||||||
| Common Fund —support |
to other parishes | 85,000 | 85,000 | 85,000 | 85,000 | |||||
| Total | 47,808 | 113,647 | 161,455 | 51,223 | 123,148 | 174,371 | ||||
| Being: | ||||||||||
| Unrestricted Fund |
19,308 | 112,645 | 131,953 | 21,008 | 121,818 | 142,826 | ||||
| Restricted Funds |
28,500 | 1,002 | 29,502 | 30,215 | 1,330 | 31,545 | ||||
| 47,808 | 113,647 | 161,455 | 51,223 | 123,148 | 174,371 |
| Basis of | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Children f |
Youth | Pastoral | Worship f |
Events f |
Property f |
Total f |
allocation f |
|||||
| Administration | and support | 44,031 | 34,399 | 16,512 | 16,512 | 15,136 | 11,008 | 137,597 | Usage | |||
| Communication | and | publicity | 39,395 | 39,395 | 13,132 | 26,263 | 13,132 | 131,317 | Usage | |||
| Church office | 8,459 | 12,688 | 6,344 | 2, | 115 | 4,229 | 8,459 | 42,294 | Usage | |||
| Bank charges | 103 | 103 | 103 | 103 | 103 | 515 | Usage | |||||
| Crossway | 14,750 | 7,375 | 14,750 | 36,875 | 73,749 | Usage | ||||||
| Governance costs |
3,520 | 2,750 | 1,320 | 1,320 | 1,209 | 880 | 11,000 | Usage | ||||
| 110+58 | 89,336 | 44,785 | 61,063 | 70,683 | 20,347 | 396,472 | ||||||
| 6Resources | expended | include | ||||||||||
| 2021f | 2020 | |||||||||||
| Diocesan Common | Fund | |||||||||||
| -Parish standard | cost | 85,000 | 85,000 | |||||||||
| - Support to | other | parishes | in London Diocese | 85,000 | 85,000 | |||||||
| 170,000 | 170,000 | |||||||||||
| Auditors' remuneration |
6,000 | 6,000 | ||||||||||
| Other services payable to auditors | 5,000 | 3,312 | ||||||||||
| Total auditor | expenses | 11,000 | 9,312 |
| 9Tangible fixed assets | 9Tangible fixed assets | Freehold | land | Plant and | Total | ||
|---|---|---|---|---|---|---|---|
| &buildings | equipment | ||||||
| Cost or valuation | |||||||
| At beginning ofyear | 2,619,361 | 335,778 | 2,955,139 | ||||
| Additions | 40,281 | 40,281 | |||||
| Disposals | |||||||
| At end ofyear | 2,619,361 | 376,059 | 2,995,420 | ||||
| Depreciation | |||||||
| At beginning ofyear | 908,119 | 289,866 | 1,197,985 | ||||
| Disposals | |||||||
| Charged in year |
41,423 | 18,163 | 59,586 | ||||
| At end ofyear | 949,542 | 308,029 | 1,257,571 | ||||
| Net book value | |||||||
| At 31December 2021 | I 669 | 819 | 68 030 | 1737849 | |||
| At 31December 2020 | I 711 | 242 | 45 912 | I 757 154 | |||
| Land and buildings | 2021 | 2020 | |||||
| At Cost | |||||||
| Church Office, 30Crown | Road | 197,343 | 197,343 | ||||
| Two residential properties, |
Richmond | Road | 457,303 | 457,303 | |||
| Church Hall, Crossway | 1,370,328 | 1,370,328 | |||||
| Two other residential | properties | 594,387 | 594,387 | ||||
| 2619361 | 2619361 |
| 10Debtors | ||||
|---|---|---|---|---|
| 2021 | 2020 | |||
| Income tax recoverable | 99,538 | 39,209 | ||
| Other debtors | 9,573 | 10,208 | ||
| Prepayments | and accrued | income | 10,836 | 2,645 |
| 119,947 | 52,062 | |||
| 11Creditors | due within | one year | ||
| 2021 | 2020 | |||
| Other creditors | 9,043 | 15,900 | ||
| Social security and other | taxes | 8,336 | 7,134 | |
| Accruals and |
deferred income | 48,614 | 20,915 | |
| 65,993 | 43,949 |
| Vicar's | Christ- | Global | |||||
|---|---|---|---|---|---|---|---|
| Crossway | fund | church | engagement | Special | Unrestricted | Total | |
| Feltham | fund | collections | |||||
| As at 31December 2021 | |||||||
| Cash at bank and in hand | 3,746 | 5,807 | 307,464 | 317,017 | |||
| Debtors | 60 | 1,994 | 117,893 | 119,947 | |||
| 3,746 | 60 | 1,994 | 5,807 | 425,357 | 436,964 | ||
| Current creditors | (1,823) | (64,170) | (65,993) | ||||
| Net current assets | 3,746 | 60 | 171 | 5,807 | 361,187 | 370,971 | |
| Fixed assets | 1,132,876 | 604,973 | 1,737,849 | ||||
| 1132 8'76 | 3746 | 60 | 171 | 5 807 | 966 160 | 2 108820 | |
| As at 31December 2020 | |||||||
| Cash at bank and in hand | 1,994 | 821 | 5,885 | 382,522 | 391,222 | ||
| Debtors | 63 | 25 | 51,974 | 52,062 | |||
| 1,994 | 884 | 5,910 | 434,496 | 443,283 | |||
| Current creditors | (884) | 125) | (42,940) | (43,949) | |||
| Net current assets | 1,994 | 5,785 | 391,555 | 399,334 | |||
| Fixed assets | 1,162,264 | 594,890 | 1,757,154 | ||||
| 1 162264 | 1 994 | 5 785 | 986445 | 2,156,488 |