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2020-12-31-accounts

INDEX
Page
Trustees'
Report		 1-8
Independent
Examiner's		 Report
Statement of Financial Activities 10
Balance Sheet
Notes to the Financial Statements 12- 19

PCC members who have served from 1st jan uary 202 0 until the date this
Incumbent:
The Revd Henry Everett Chairman
Wardens:
Virginia Ashton
Lesley Chakravorty Treasurer
Representative on the Deanery Synod:
Cassandra
Isaac		 (until 2% October 2020)
Jonathan
Porter		 (from 29ih October 2020)
Elected members:
Carolyn
Barker-Mill
Nicky Chakravorty Vice Chairman, Secretary
Cathy Duckett
Nina Irwin
Nicholas
Kaye
Sarah O'Kane (until 29th October 2020)

FOR THE Y EAR ENDED 1~ DECEMBER 2020 1~ DECEMBER 2020
2020 2019
Notes Unrestricted Restricted Endowment TOTAL TOTAL
E E
INCOME AND ENDOWMENTS FROM:
Donations and legacies 4 8,502 282,658 291,160 1,828,647
Charitable activities 4a) 15,512 15,512 7,679
Investments 4b) 929 929 925
Total: 24,943 282,658 307,601 1,837,251
EXPENDITURE ON:
Raising funds 5 17,255 17,255 33,687
Charitable activities sa) 19,239 326,067 345,306 1,562,719
Other 5b) 500 2,800 3,300 5,580
Total: 19,739 346,122 365,861 1,601,986
Net income/(expenditure) 5,204 (63,464) (58,260) 235,265
Other recognised
gains/(losses):
Gains/(losses) on
revaluation of investments
1,944 1,944 4,381
Net movement in funds 5,2G4 (63,434) 1,944 (56,316) 239,646
Reconciliation of funds
Total funds brought
forward		 43,938 516,627 35,016 595,581 355,935
Total funds carried forward 49,142 453,163 36,960 539,265 595,581
PAROCHIAL CHURCH COUNCIL OF
.MARY MAGDALENE PADDINGTON
BALANCE SHEET
AS AT 31M DECEMBER 2020
Note 2020 2019
E
FIXED ASSETS
Quoted Investments 36,960 35,016
CURRENT ASSETS
Debtors 219,479 399,978
Cash at bank and in hand 325,126 213,182
544,605 613,160
CREDITORS:
Amount
falling		 due within one year 9 (42,300) (52,595)
NET CURRENT ASSETS 502,305 560,565
NET ASSETS 539,265 595,581
Represented by
UNRESTRICTED FUNDS 49,142 43,938
RESTRICTED FUNDS 10 453,163 515,627
ENDOWMENT FUNDS 36,960 35,016
TOTAL FUNDS 539,265 595,581

Donations
and l		 e gacies
2020 2019
Unrestrictedf Restrictedf TOTAL TOTALf
Planned
giving		 3,028 3,028 3,065
Income tax receivable thereon 464 464 363
Collections
and other giving		 995 995 2,685
4,487 4,487 6,113
Donations
and legacies
Heritage
Lottery		 Fund 67,958 67,958 727,511
Westminster
City		 Council 419,000
Listed Places of Worship (VAT recoverable) 162,947
The Diocese of London 28,836 28,836 20,000
Other donations 25,776 25,776
Trusts/Charitable Foundations 125,826 125,826 271,270
Private donations 4,015 34,262 38,277 221,806
4,015 282,658 286,673 1,822,534
Total donations and legacies 8,502 282,658 291,160 1,828,647
4a). Charitable
activities
2020 2019
Unrestricted Restricted TOTAL TOTAL
Miscellaneous 7,781 7,781
Fees 1 1 627
Use of Church Centre 7,730 7,730 6,170
Fundrai sing/Community Activities 882
15,512 15,512 7,679
4b). Investments
Dividends
and Interest		 929 929 925

Raising funds
2020 2019
Unrestricted Restricted TOTAL TOTAL
Fundraising
activities		 17,255 17,255 33,687
17,255 17,255 33,687
5a). Charitable
activities
Activities
directly related to the Church (see below)		 9,715 9,715 8,647
Expenditure
related to the Church (see below)		 6,928 325,993 332,921 1,551,104
Administrative
costs (see below)		 2,596 74 2,670 2,968
19,239 326,067 345,306 1,562,719
Activities directly related to the work ofthe Church
Diocesan
Parish Share		 6,500 6,500 6,000
Organist 2,255 2,255 1,810
Cost of Services 398 398 437
Community/Ministry 562 562 400
9,715 9,715 8,647
Expenditure
related to the Church
Insurance 534 534 11,569
Church
Running
Expenses		 1,473
Organ Repairs/Service 1,394 1,394 2.223
Project Expenditure 5,000 325,993 330,993 1,535,839
6,928 325,993 332,921 1,551,104

Sa). Charitable
activities (con		 tin ued)
2020 2019
Administrative
costs		 Unrestricted Restricted TOTAL TOTAL
E E
Bank charges 74 74 74
Office Expenditure 1,442 1,442 1,773
Vicarage expenses 1,154 1,154 1,121
2,596 2,670 2,968
5b). Other
Independent
audit fee		 5,580
Independent
examiner's		 fee 2,800 3,300
500 2,800 3,300 5,580
6. FIXED ASSET INVESTMENT
St Martha's
Hall Trust.		 2020f 2019
Quoted Investments
Market value at 1stjanuary 2019 28,800 24,827
Unrealised
Gains/(Losses)		 1,944 (408)
Market Value at 31st December 2019 30,744 24,419
Cash Deposit Balance 6,216 6,216
36,960 35,016
Investments
at the year-end		 comprise f36,960at market value in St Martha's Hall Trust.
The St Martha's
Hall Trust investment		 is held at CBFChurch of England Investment
Fund.		 Only the
interest from the investment is available to the PCC, the capital remaining intact.
7. DEBTORS 2020 2019
E
Sundry
Debtors		 7,927 7,463
Other debtors 211,552 294,943
Grants and donations receivable re Project 77,032
VAT recoverable 20,540
219,479 399,978

8. CASH AT BAN K AND IN HAND
2020 2019
f
CAF Bank Limited 257,810 147,641
HSBC UK pic 67,316 65,541
325,126 213,182
9.CREDITORS:
Amounts falling due within one year
Accruals 3,300 5,580
Other creditors 39,000 47,015
42,300 52,595

project
Fund Other Total
f f
Balance at 1st January 2020 478,944 37,683 516,627
Income 282,416 242 282,658
Expenditure (345,880) (242) (346,122)
Transfer (to)/from unrestricted funds 11,821 (11,821) (-)
Balance at 31st December 2020 427,301 25,862 453,163
11.ENDOWMENT FUNDS
2020 2019
f f
Balance at 1st January 2020 35,016 30,635
Gains/(losses) on investment assets 1,944 4,381
Balance at 31st December 2020 36,960 35,016

SETS BEIWEEN FUNDS
Unrestricted Restricted Endowment Total
Fund Fund Fund
Fixed Assets Investments 36,960 36,960
Debtors 7,927 211,552 219,479
Cash at bank and in hand 41,715 283,411 325,126
Creditors (500) (41,800) (42,300)
49,142 453,163 36,960 539,265