**Charity number: 1132166**
## **THE HOLY INNOCENTS AND ST JOHN**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2020**
## **THE HOLY INNOCENTS AND ST JOHN**
## **CONTENTS**
||Page|
|---|---|
|**Reference and administrative details of the charity, PCC members and advisers**|1|
|**Report of the members of the PCC**|2 - 5|
|**Independent examiner's report**|6|
|**Statement of financial activities**|7|
|**Balance sheet**|8|
|**Notes to the financial statements**|9 - 25|
**THE HOLY INNOCENTS AND ST JOHN**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2020**
|**Trustees**|Kim Benson, Lay Representative|
|---|---|
||Deborah
Wadham,
Churchwarden
from
7
April
2019,
previously
Lay
Representative|
||Rhys Jones, Honorary Secretary (co-opted)|
||Caroline Gordon, Honorary Treasurer and Lay Representative|
||Sam Davies, Lay Representative from 7 April 2019, previously Churchwarden|
||Janis Camell OBE, Lay Representative|
||Jane Jales, Lay Minister|
||Stephen Farrant, Lay Representative|
||Larry Squire, Lay Representative|
||Susan Roberts, Lay Representative from 7 April 2019, previously co-opted|
|**PCC members**|Rev David Matthews, Incumbent|
||Sandra Murray, Deputy Churchwarden and Lay Representative|
||Christine Bates, Deputy Churchwarden and Lay Representative|
||Stella Griffiths, Deanery Synod|
||Rev Paulette Mullings, Curate|
||Jaqueline Boyce, Churchwarden|
||Michael Thomas, Deanery Synod|
||Johanna Friedrich, Deanery Synod|
||Ella Burns, Deanery Synod|
||Robyn Gray, Deanery Synod|
||Oliver Pearcey, Lay Representative|
|**Charity registered**||
|---|---|
|**number**|1132166|
|**Principal office**|Paddenswick Road|
||London|
||W6 0UB|
|**Accountants**|Griffin Stone Moscrop & Co|
||Chartered Accountants|
||21-27 Lamb's Conduit Street|
||London|
||WC1N 3GS|
|**Bankers**|The Allied Irish Bank|
||Berkeley Square|
||London|
||W1J 6AA|
||CAF Bank Limited|
||25 Kings Hill Avenue|
||Kings Hill|
||West Malling|
||Kent|
||ME19 4TA|
Page 1
**THE HOLY INNOCENTS AND ST JOHN**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2020**
## **The Parochial Church Council**
Father David Matthews continued as the priest of the Parish. He has been the incumbent since 2003. He holds tenure.
The Rev Paulette Mullings continues with the Parish as an ordained priest, and shares the responsibility for conducting serves with Father David.
Jane Jales continued as a licensed Lay minster, having been first appointed on 15.6.17.
On 8.1.20 Susan Roberts resigned from the PCC
On 4.7.20 the following resigned from the PCC Stella Griffiths Michael Thomas Johanna Friedrich Ella Burns Larry Squire Kim Benson
On the same day Peter Smith and Marcia Hill were co-opted to the PCC. This was all with a view to creating a new PCC prior to the adjourned annual parochial church meeting on 1 November 2020
Churchwardens are elected annually at the Annual Meeting of Parishioners held immediately before the Annual Parochial Church Meeting. Both meetings were originally convened for 29 March 2020, but were adjourned because of the Covid epidemic. Both adjourned meetings were held this year on 27 September 2020.
There were two nominations for the post of Churchwarden, Deborah Wadham, who had served as church warden previously, and Robyn Gray. Jacquie Boyce stood down as a church warden and the Parish thanks her for her contribution. Accordingly there was no election and both nominees were appointed unopposed. They were subsequently duly sworn in at the church in November.
The Annual Parochial Church Meeting was held, as usual, on the same date as the Annual Meeting of Parishioners. There were elections for Deanery Synod members at this meeting, but no nominations. In the light of that the new PCC nominated the following from among its number at a PCC meeting on 1.12.20: Sandra Murray Marcia Hill Janis Cammell Sam Davies Jamie Carter
The term of office of lay representatives is three years under the Church Representation Rules. The term of office of Deborah Wadham expired. She was appointed church warden and accordingly remains on the PCC.
There were 8 vacancies for lay representatives. The following nominations were received: Oliver Pearcey (re-elected following his three year term expiring) Sandra Murray (re-elected following her three year term expiring) Marcia Hill Peter Smith Accordingly there was no elections and they were appointed unopposed.
The following continued in office as Lay Members: Caroline Gordon Janis Cammell OBE Stephen Farrant
Page 2
**THE HOLY INNOCENTS AND ST JOHN**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020**
At the first PCC meeting of the new church year on 1.12.20. Caroline Gordon was re-appointed Honorary Treasurer for a further year. Rhys Jones was co-opted to the PCC for a further year and re-appointed Honorary Secretary. Jamie Carter was co-opted to the PCC
The following had been appointed Deputy Churchwardens on 23.4.17 and remain in post: Sandra Murray
Jane Lawrence continued as Electoral Roll Officer. The Children’s Safeguarding Officer continues to be Louise Wilson. Ella Burns continued as Children’s Champion. Claire Walker continued as DBS Evidence Checker. Christine Bates resigned as Health and Safety Officer on ceasing to be on the PCC. Beryl Gutteridge continued as Sacristan supported by others. Stella Griffiths continued in her role as archivist.
As at 31.12.20 the PCC membership comprised: Rev David Matthews Rev Paulette Mullings Jane Jales Sam Davies Robyn Gray Deborah Wadham Oliver Pearcey Sandra Murray Stephen Farrant Caroline Gordon Janis Camell OBE Marcia Hill Peter Smith Jamie Carter Rhys Jones
PCC meetings were held on the following dates. All meetings were quorate. 15.3.20 4.7.20 27.9.20 1.12.20
There were many fewer PCC meetings because of Covid.
Discussions at PCC meetings centred round the following topics: Covid-19 St Luke’s Chapel and its contents and the church refurbishment project Financial administration and income Renting the West Hall and Old Vestry Arrears of ground rent owing by Shepherds Bush Housing Association Upgrading the lower hall kitchen
## **Churchwardens' Fabric Report**
2020 has been a very challenging year for everyone. Holy Innocents closed its doors on 23 March for the first lockdown and lost almost every hall hiring booking immediately. Due to the impact on our income we have in turn had to be very careful how we used our diminished resources to care for the building.
Despite the government restrictions, Holy Innocents has kept its doors open since July 4 which has enabled the community to attend, allowing us to cherish the church and memorial garden and keeping life in the building.
Still ongoing since the 2018 AGM, consideration of the church fabric has been largely influenced by our expectations of the major refurbishment project. While the longer-term plans are still pending, we have
Page 3
**THE HOLY INNOCENTS AND ST JOHN**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020**
completed necessary scheduled maintenance, unscheduled repairs and minor works.
The gardens have been maintained by Hammersmith Community Gardens on a regular but slightly ad hoc basis (owing to the pandemic forcing us to reduce outgoings). More needs to be done to the gardens as the HCGA gardeners are not as experienced as more expensive companies. The work needs to be more closely monitored by the Church Wardens when the HCGA team are on site.
The lower hall kitchen is still in very poor condition but Janis Cammell has obtained quotes for a new kitchen and has successfully applied for a grant towards the kitchen from The Mercers Company and we hope to carry out this work in Spring 2021.
## **The Electoral Roll**
The new Electoral Roll was prepared in 2019. A new roll will not be prepared until 2025.
The number of people on the Electoral Roll as at 31 December 2019 was 315.
As at 31 December 2020 there were 314 people on the Roll. 6 people were added, and 7 people removed. The Electoral Roll remains an important tool for all the Parish’s mission related activities and stewardship.
The General Data Protection Regulation 2018 has implications for the administration of the electoral roll.
## **Financial review**
## **Going concern**
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.
## **Financial performance**
The accounts for the year Ended 31 December 2020 include the Statement of Financial Activities, which shows where income has been generated, and how it has been spent and a Balance Sheet showing our financial position as at 31 December 2020, in terms of assets, monies due and monies owed. The notes to the accounts give more detail on this analysis and also explain the accounting policies used in the accounts.
COVID-19 Restrictions meant we had to close the building at various times and meant we had cancelled bookings from all Theatre Companies for bookings after March. Regular users also had to stop classes at various times. This more than halved our rental income.
We managed not to start using our reserves, which have been built up for works that need doing, particularly on our washrooms and replacing the heating system. We managed to do this by reducing costs wherever we could, including reducing our Common Fund payments, holding a Season of Gifts and claiming the Coronavirus Job Retention Scheme grant from the government during the period our administrator was furloughed.
We are very grateful to everyone who donated to our Season of Gifts, which raised a total of £18,854 and to everyone who continues to make regular donations even when they have been unable to attend services due to the pandemic.
We received a legacy from the late Howard Bennett, former churchwarden.
To facilitate giving, particularly remotely, we have set up more ways for people to donate online, via our website.
The General Fund continues to have a positive balance which is in line with our reserves policy to have funds on hand to cover emergency situations which may arise.
Page 4
**THE HOLY INNOCENTS AND ST JOHN**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Reserves Policy**
It is the PCC’s aim to maintain a balance on unrestricted free funds (if possible), which equates to approximately three months unrestricted general fund payments, to cover emergency situations that may arise from time to time and to ensure sufficient funds are available to cover salaries and associated staff costs. As at 31 December 2020 the general fund is reporting a cumulative surplus of £141,465, again a big improvement on the previous year (2019 - £105,202). General fund expenditure in 2020 amounted to £123,873. Due to COVID-19 restrictions, this is significantly less than 2019 when general fund expenditure was £186,926. Looking at 2021, when the first 6 months at least will still see restrictions, it is estimated that the balance held on the general fund at the balance sheet date would cover 10 months of general fund expenditure, which meets our reserves policy target. The PCC seek to continually improve the financial position through encouraging an increase in giving to the general fund, whilst attempting to reduce the costs of the day to day running of the church buildings.
## **Structure, governance and management**
## **Constitution**
The Parochial Church Council (PCC) is a corporate body established by the Church of England. The PCC operates under the Parochial Church Councils (Powers) Measure 1956.
The Church is a charity registered with the Charity Commission under its full name of The Parochial Church Council of the Ecclesiastical Parish of Holy Innocents and St John, under registration number 1132166.
## **Method of appointment or election of Churchwardens and PCC members**
The method of appointment of Churchwardens and PCC members is set out in the Church Representation Rules.
This report was approved by the PCC, on 7 March 2021 and signed on its behalf by:
................................................
Rev David Matthews, Incumbent
Page 5
**THE HOLY INNOCENTS AND ST JOHN**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Independent examiner's report to the Trustees of The Holy Innocents and St John ('the Charity')**
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2020.
This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees, as a body, for my work or for this report.
## **Responsibilities and basis of report**
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signed: Dated: 22 March 2021 Richard Hill FCA
**Griffin Stone Moscrop & Co** Chartered Accountants 21-27 Lamb's Conduit Street London WC1N 3GS
Page 6
**THE HOLY INNOCENTS AND ST JOHN**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020**
|**Note**
**Income from:**
Donations and legacies
2
Charitable activities
3
Other trading activities
4
Investments
5
**Total income**
**Expenditure on:**
Charitable activities
6
**Total expenditure**
Net gains/(losses) on investments
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Restricted**
**funds**
**2020**
**£**
**21,995**
**-**
**-**
**-**
**21,995**
**-**
**-**
**382**
**22,377**
**60,560**
**22,377**
**82,937**|**Unrestricted**
**funds**
**2020**
**£**
**116,385**
**23,697**
**1,234**
**20,477**
**161,793**
**123,884**
**123,884**
**(3,170)**
**34,739**
**1,157,680**
**34,739**
**1,192,419**|**Total**
**funds**
**2020**
**£**
**138,380**
**23,697**
**1,234**
**20,477**
**183,788**
**123,884**
**123,884**
**(2,788)**
**57,116**
**1,218,240**
**57,116**
**1,275,356**|_Total_
_funds_
_2019_
_£_
_98,510_
_83,015_
_2,220_
_27,269_|
|---|---|---|---|---|
|||||_211,014_|
|||||_188,006_|
|||||_188,006_|
|||||_10,725_|
|||||_33,733_|
|||||_1,184,507_
_33,733_|
|||||_1,218,240_|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 9 to 25 form part of these financial statements.
Page 7
## **THE HOLY INNOCENTS AND ST JOHN**
## **BALANCE SHEET AS AT 31 DECEMBER 2020**
|**Note**
**Fixed assets**
Tangible assets
10
Investments
12
Investment property
11
**Current assets**
Debtors
13
Cash at bank and in hand
Creditors: amounts falling due within one
year
14
**Net current assets**
**Total assets less current liabilities**
**Net assets excluding pension asset**
**Total net assets**
**Charity funds**
Restricted funds
15
Unrestricted funds
15
**Total funds**|**75,129**
**159,896**
**235,025**
**(27,429)**|**2020**
**£**
**1,876**
**65,884**
**1,000,000**
**1,067,760**
**207,596**
**1,275,356**
**1,275,356**
**1,275,356**
**82,937**
**1,192,419**
**1,275,356**|_47,829_
_139,123_
_186,952_
_(39,729)_|_2019_
_£_
_2,345_
_68,672_
_1,000,000_|
|---|---|---|---|---|
|||||_1,071,017_
_147,223_|
|||||_1,218,240_|
|||||_1,218,240_|
||||||
|||||_1,218,240_|
|||||_60,560_
_1,157,680_|
||||||
|||||_1,218,240_|
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
## **Caroline Gordon. Honorary Treasurer**
## Date: 7 March 2021
The notes on pages 9 to 25 form part of these financial statements.
Page 8
**THE HOLY INNOCENTS AND ST JOHN**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **1. Accounting policies**
## **1.1 Basis of preparation of financial statements**
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these financial statements. The financial statements have been prepared in accordance with the "Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" issued in October 2019, the "Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102)" and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The Holy Innocents and St John constitutes a public benefit entity as defined by FRS 102.
## **1.2 Income**
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Collections are recognised when received by or on behalf of the PCC. Planned giving receivable under Gift Aid is also recognised when received. Income tax recoverable on Gift Aid donations is recognised when the underlying income is recognised.
Rental income from the formal letting of church premises is recognised in the statement of financial activities in the accounting period to which the rental pertains. Rental invoices are issued in advance of the rental period and, consequently, rentals invoiced on or before the balance sheet date in respect of future periods are carried within deferred income.
## **1.3 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity.
Support costs are those costs incurred directly in support of expenditure on the church's principal ministries. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
Expenditure on charitable activities comprises costs incurred in the church's operations, including support costs and governance costs apportioned to charitable activities..
Grants payable are charged in the year when paid over, or when awarded, if that award creates a binding obligation on the PCC..
All expenditure is inclusive of irrecoverable VAT.
Page 9
**THE HOLY INNOCENTS AND ST JOHN**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **1. Accounting policies (continued)**
## **1.4 Government grants**
Government grants relating to tangible fixed assets are treated as deferred income and released to the statement of financial activities over the expected useful lives of the assets concerned. Other grants are credited to the statement of financial activities as the related expenditure is incurred.
## **1.5 Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
## **1.6 Tangible fixed assets and depreciation**
Consecrated and beneficed property is excluded from the accounts by section 10(2)(c) of the Charities Act 2011. No value is placed on movable church furnishings held by the church wardens on special trust for the PCC and which require a faculty for disposal since the PCC considers this to be inalienable property. All expenditure incurred during the year on consecrated or beneficed buildings and movable church furnishings, whether maintenance or improvement, is written off as expenditure in the statement of financial activities
Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
- Fixtures and fittings 20% reducing balance basis - Office equipment 20% reducing balance basis
## **1.7 Investments**
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the balance sheet date, unless fair value cannot be measured reliabily in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading ‘Net gains/(losses) on investments’ in the statement of financial activities.
## **1.8 Debtors**
Debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid.
## **1.9 Cash at bank and in hand**
Cash at bank and in hand includes cash only.
Page 10
**THE HOLY INNOCENTS AND ST JOHN**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **1. Accounting policies (continued)**
## **1.10 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the church anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the statement of financial activities as a finance cost.
## **1.11 Financial instruments**
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments (including debtors and creditors) are initially recognised at transaction value and subsequently measured at their settlement value.The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **1.12 Pensions**
The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.
## **1.13 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the PCC in furtherance of the general objectives of the Church and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the PCC for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Church for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
Page 11
**THE HOLY INNOCENTS AND ST JOHN**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **2. Income from donations and legacies**
|Donations
Legacies
Grants
Coronavirus Job Retention Scheme grant
Income tax recoverable on Gift Aid
Donations
Grants
Income tax recoverable on Gift Aid|**Restricted**
**funds**
**2020**
**Unrestricted**
**funds**
**2020**
**£**
**£**
-
69,193
21,995
24,189
-
1,075
-
6,462
-
15,466
21,995
116,385
_Restricted_
_funds_
_2019_
_Unrestricted_
_funds_
_2019_
_£_
_£_
_100_
_79,214_
_-_
_1,263_
_-_
_17,933_
_100_
_98,410_|**Total**
**funds**
**2020**
**£**
**69,193**
**46,184**
**1,075**
**6,462**
**15,466**|
|---|---|---|
|||**138,380**|
|||_Total_
_funds_
_2019_
_£_
_79,314_
_1,263_
_17,933_|
|||_98,510_|
## **3. Income from charitable activities**
|**Unrestricted**
**funds**
**2020**
**£**
Fees from weddings and funerals
452
Sundry income
10
Rental of church hall
24,185
Rental income from nursery
-
Ground rent
(950)
23,697|**Total**
**funds**
**2020**
**£**
**452**
**10**
**24,185**
**-**
**(950)**|
|---|---|
||**23,697**|
A credit note of £950 was issued in respect of backdated Ground Rent invoiced in 2019 that was ultimately irrecoverable.
Page 12
**THE HOLY INNOCENTS AND ST JOHN**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **3. Income from charitable activities (continued)**
|Fees from weddings and funerals
Sundry income
Rental of church hall
Rental income from nursery
Ground rent|_Unrestricted_
_funds_
_2019_
_£_
_1,567_
_145_
_60,033_
_17,370_
_3,900_
_83,015_|_Total_
_funds_
_2019_
_£_
_1,567_
_145_
_60,033_
_17,370_
_3,900_|
|---|---|---|
|||_83,015_|
## **4. Income from other trading activities: Fundraising Income Income from fundraising events**
|**Unrestricted**
**funds**
**2020**
**£**
Fundraising events
1,234
_Unrestricted_
_funds_
_2019_
_£_
Fundraising events
_2,220_|**Total**
**funds**
**2020**
**£**
**1,234**|
|---|---|
||_Total_
_funds_
_2019_
_£_
_2,220_|
Page 13
**THE HOLY INNOCENTS AND ST JOHN**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **5. Investment income**
|**Unrestricted**
**funds**
**2020**
**£**
Rental income from investment
(net of letting fees)
20,976
Dividends and interest - including adjustment for reducing interest on
ground rent invoiced in 2019 but not to be received in full
(499)
20,477
_Unrestricted_
_funds_
_2019_
_£_
Rental income from investment
(net of letting fees)
_20,976_
Dividends and interest
_6,293_
_27,269_|**Total**
**funds**
**2020**
**£**
**20,976**
**(499)**|
|---|---|
||**20,477**|
||_Total_
_funds_
_2019_
_£_
_20,976_
_6,293_|
||_27,269_|
## **6. Analysis of expenditure on charitable activities**
## **Summary by fund type**
|**Unrestricted**
**funds**
**2020**
**£**
Church Activities
123,884
_Unrestricted_
_funds_
_2019_
_£_
Church Activities
_188,006_|**Total**
**funds**
**2020**
**£**
**123,884**|
|---|---|
||_Total_
_funds_
_2019_
_£_
_188,006_|
Page 14
**THE HOLY INNOCENTS AND ST JOHN**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **6. Analysis of expenditure on charitable activities (continued)**
## **Summary by expenditure type**
|Church Activities
Church Activities|**Staff costs**
**2020**
**Depreciation**
**2020**
**£**
**£**
13,375
469
_Staff costs_
_2019_
_Depreciation_
_2019_
_£_
_£_
_11,890_
_586_|**Other costs**
**2020**
**£**
110,040
_Other costs_
_2019_
_£_
_175,530_|**Total**
**funds**
**2020**
**£**
**123,884**|
|---|---|---|---|
||||_Total_
_funds_
_2019_
_£_
_188,006_|
## **7. Analysis of expenditure by activities**
|Church Activities
Church Activities|**Church**
**activities**
**2020**
**£**
95,778
_Church_
_activities_
_2019_
_£_
_150,327_|**Grant**
**funding of**
**activities**
**2020**
**£**
3,429
_Grant_
_funding of_
_activities_
_2019_
_£_
_5,829_|**Support**
**costs**
**2020**
**£**
24,677
_Support_
_costs_
_2019_
_£_
_31,850_|**Total**
**funds**
**2020**
**£**
**123,884**|
|---|---|---|---|---|
|||||_Total_
_funds_
_2019_
_£_
_188,006_|
Page 15
**THE HOLY INNOCENTS AND ST JOHN**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **7. Analysis of expenditure by activities (continued)**
## **Analysis of direct costs**
|Depreciation
Diocesan quota
Services
General repairs and maintenance
Insurance
Heat, light and other services|**Church**
**activities**
**2020**
**£**
469
61,000
6,952
11,040
8,338
7,979
95,778|**Total**
**funds**
**2020**
**£**
**469**
**61,000**
**6,952**
**11,040**
**8,338**
**7,979**|
|---|---|---|
|||**95,778**|
|Depreciation
Diocesan quota
Services
General repairs and maintenance
Insurance
Heat, light and other services
Clergy expenses
Loss on disposal of tangible fixed assets|_Church_
_activities_
_2019_
_£_
_586_
_87,000_
_19,754_
_23,097_
_8,194_
_11,084_
_150_
_462_
_150,327_|_Total_
_funds_
_2019_
_£_
_586_
_87,000_
_19,754_
_23,097_
_8,194_
_11,084_
_150_
_462_|
|---|---|---|
|||_150,327_|
Page 16
**THE HOLY INNOCENTS AND ST JOHN**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **7. Analysis of expenditure by activities (continued)**
## **Analysis of support costs**
|Staff costs
Office expenses
Telephone
Professional fees
Cleaning and gardening
Bank charges
Governance costs
Staff costs
Office Expenses
Telephone
Travel and entertainment
Professional fees
Cleaning and gardening
Bank charges
Other expenditure
Bad debt
Governance costs|**Support**
**costs for**
**church**
**activities**
**2020**
**£**
13,375
1,893
716
1,419
4,628
246
2,400
24,677
_Support_
_costs for_
_church_
_activities_
_2019_
_£_
_11,890_
_1,930_
_929_
_118_
_1,700_
_10,484_
_194_
_35_
_1,930_
_2,640_
_31,850_|**Total**
**funds**
**2020**
**£**
**13,375**
**1,893**
**716**
**1,419**
**4,628**
**246**
**2,400**|
|---|---|---|
|||**24,677**|
|||_Total_
_funds_
_2019_
_£_
_11,890_
_1,930_
_929_
_118_
_1,700_
_10,484_
_194_
_35_
_1,930_
_2,640_|
|||_31,850_|
Page 17
**THE HOLY INNOCENTS AND ST JOHN**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **8. Analysis of grants**
|Grants paid
Grants paid
**9.**
**Staff costs**
Wages and salaries
Social security costs
Contribution to defined contribution pension schemes|**Grants to**
**Institutions**
**2020**
**£**
3,429
_Grants to_
_Institutions_
_2019_
_£_
_5,829_
**2020**
**£**
**12,986**
**-**
**390**
**13,376**|**Total**
**funds**
**2020**
**£**
**3,429**|
|---|---|---|
|||_Total_
_funds_
_2019_
_£_
_5,829_|
|||_2019_
_£_
_15,739_
_(4,269)_
_420_|
||||
|||_11,890_|
In 2019 social security costs include a credit of £4,269 relating to backdated employment allowance claims.
The average number of persons employed by the Charity during the year was as follows:
||**2020**|_2019_|
|---|---|---|
||**No.**|_No._|
|Management|**1**|_1_|
No employee received remuneration amounting to more than £60,000 in either year.
Key management personnel, as defined by FRS 102, consists of the PCC members. No consideration was payable to key management personnel during the year (2019 - the same).
Page 18
**THE HOLY INNOCENTS AND ST JOHN**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **10. Tangible fixed assets**
|**Cost or valuation**
At 1 January 2020
At 31 December 2020
**Depreciation**
At 1 January 2020
Charge for the year
At 31 December 2020
**Net book value**
At 31 December 2020
_At 31 December 2019_|**Fixtures and**
**fittings**
**£**
**26,336**
**26,336**
**24,637**
**340**
**24,977**
**1,359**
_1,698_|**Office**
**equipment**
**£**
**1,537**
**1,537**
**890**
**129**
**1,019**
**518**
_647_|**Total**
**£**
**27,873**|
|---|---|---|---|
||||**27,873**|
||||**25,527**
**469**|
||||**25,996**|
||||**1,877**|
||||_2,345_|
Page 19
**THE HOLY INNOCENTS AND ST JOHN**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **11. Investment property**
|**Valuation**
At 1 January 2020
At 31 December 2020|**Freehold**
**investment**
**property**
**£**
**1,000,000**|
|---|---|
||**1,000,000**|
Investment property comprises the freehold land and buildings located at 125 Dalling Road, London W6 which were acquired more than 80 years ago. The historical cost of the property can be reasonably estimated at £5,000, resulting in a revaluation reserve of £695,000 being established in the 2011 financial statements.
The market value at the year end is based on the value estimated by a local surveyor and estate agent. The property is formally valued every few years. The valuation undertaken on 12 February 2015 resulted in an increase in the valuation of £300,000. The most recent valuation, undertaken on 5 March 2019, resulted in no change to the property's value. On this basis, no depreciation is deemed appropriate.
The trustees do not consider the market value of the property as at 31 December 2020 to be materially different from the most recent valuation undertaken, and the carrying value in the financial statements at the balance sheet date remains £1,000,000.
## **12. Fixed asset investments**
|**Cost or valuation**
At 1 January 2020
Revaluations
**At 31 December 2020**
**Net book value**
**At 31 December 2020**
_At 31 December 2019_|**Listed**
**investments**
**£**
**68,672**
**(2,788)**|
|---|---|
||**65,884**|
||**65,884**|
||_68,672_|
Page 20
**THE HOLY INNOCENTS AND ST JOHN**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **12. Fixed asset investments (continued)**
All the fixed asset investments are held in the UK.
Listed investments comprise the following:
353.07 COIF Charities Investment Fund income units held within the St John's Choir restricted fund (2019 - the same);
1,174 Prudential plc shares (2019 - the same);
1,174 M&G plc shares (2019 - the samel)
1,109.093 units of M&G Charifund (2019 - the same); and
1,277.07 CBF Church of England Investment Fund income shares (2019 - the same), which will be held for at least the next 12 months.
With the exception of the Choir fund, where the assets are held within a restricted fund, all investments as at 31 December 2020 are held within general funds. Originally the Prudential shares were a bequest to the church to help fund the redecoration of the chancel. The paintings for the chancel were acquired in 2018, but paid for out of general funds already held in the PCC bank account rather than liquidate the investments. Therefore to reflect this exchange of cash for investments between funds the investments held in the Redecoration of the Chancel Fund were transferred to the general fund at 1 January 2019 at the value of £16,459 (being the market value as at 31 December 2018).
## **13. Debtors**
|**Due within one year**
Other debtors
Prepayments and accrued income|**2020**
**£**
**26,956**
**48,173**
**75,129**|_2019_
_£_
_46,085_
_1,744_|
|---|---|---|
||||
|||_47,829_|
## **14. Creditors: Amounts falling due within one year**
|Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income|**2020**
**£**
**1,468**
**-**
**2,748**
**23,213**
**27,429**|_2019_
_£_
_3,257_
_113_
_4,249_
_32,110_|
|---|---|---|
||||
|||_39,729_|
Page 21
**THE HOLY INNOCENTS AND ST JOHN**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **15. Statement of funds**
## **Statement of funds - current year**
|**Unrestricted funds**
**Designated funds**
St John's Church Hall Fund
Revaluation Reserve - Dalling
Road
Historical cost - Dalling Road
Irene Hayes Bequest
Fire Alarm
Website
**General funds**
General Fund
**Total Unrestricted funds**
**Restricted funds**
Church Fabric Fund
St John's Choir Fund
H Bennett Fund
**Total of funds**|**Balance at 1**
**January**
**2020**
**£**
**42,899**
**995,000**
**5,000**
**8,752**
**815**
**11**
**1,052,477**
**105,203**
**1,157,680**
**54,584**
**5,976**
**-**
**60,560**
**1,218,240**|**Income**
**£**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**161,793**
**161,793**
**-**
**-**
**21,995**
**21,995**
**183,788**|**Expenditure**
**£**
**-**
**-**
**-**
**-**
**-**
**(11)**
**(11)**
**(123,873)**
**(123,884)**
**-**
**-**
**-**
**-**
**(123,884)**|**Gains/**
**(Losses)**
**£**
**(1,512)**
**-**
**-**
**-**
**-**
**-**
**(1,512)**
**(1,658)**
**(3,170)**
**-**
**382**
**-**
**382**
**(2,788)**|**Balance at**
**31**
**December**
**2020**
**£**
**41,387**
**995,000**
**5,000**
**8,752**
**815**
**-**|
|---|---|---|---|---|---|
||||||**1,050,954**|
||||||**141,465**|
||||||**1,192,419**|
||||||**54,584**
**6,358**
**21,995**|
||||||**82,937**|
||||||**1,275,356**|
The H Bennett restricted fund has been apportioned by the executor of the estate for the redecoration of the Chancel in memory of Howard Bennett.
Page 22
**THE HOLY INNOCENTS AND ST JOHN**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **16. Summary of funds**
## **Summary of funds - current year**
|Designated funds
General funds
Restricted funds|**Balance at 1**
**January**
**2020**
**£**
**1,052,477**
**105,203**
**60,560**
**1,218,240**|**Income**
**£**
**-**
**161,793**
**21,995**
**183,788**|**Expenditure**
**£**
**(11)**
**(123,873)**
**-**
**(123,884)**|**Gains/**
**(Losses)**
**£**
**(1,512)**
**(1,658)**
**382**
**(2,788)**|**Balance at**
**31**
**December**
**2020**
**£**
**1,050,954**
**141,465**
**82,937**|
|---|---|---|---|---|---|
||||||**1,275,356**|
Page 23
**THE HOLY INNOCENTS AND ST JOHN**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **17. Analysis of net assets between funds**
## **Analysis of net assets between funds - current period**
|Tangible fixed assets
Fixed asset investments
Investment property
Current assets
Creditors due within one year
**Total**|**Restricted**
**funds**
**2020**
**Unrestricted**
**funds**
**2020**
**£**
**£**
-
1,876
6,358
59,526
-
1,000,000
76,579
158,446
-
(27,429)
82,937
1,192,419|**Total**
**funds**
**2020**
**£**
**1,876**
**65,884**
**1,000,000**
**235,025**
**(27,429)**
**1,275,356**|
|---|---|---|
## **Analysis of net assets between funds - prior period**
|Tangible fixed assets
Fixed asset investments
Investment property
Current assets
Creditors due within one year
**Total**|_Restricted_
_funds_
_2019_
_£_
-
5,977
-
54,583
-
60,560|_Unrestricted_
_funds_
_2019_
_£_
2,345
62,695
1,000,000
132,369
(39,729)
1,157,680|_Total_
_funds_
_2019_
_£_
_2,345_
_68,672_
_1,000,000_
_186,952_
_(39,729)_
_1,218,240_|
|---|---|---|---|
## **18. Pension commitments**
The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted to £390 (2019 - £420). No contributions were payable to the fund at the balance sheet date (2019 - the same).
Page 24
**THE HOLY INNOCENTS AND ST JOHN**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **19. Related party transactions**
The incumbent and the churchwardens are trustees of The Julia Christina Clarke Endowment Fund and The Julia Christina Clarke Home Fund, both of which are registered charities. The main object of hese charities is to provide for the less advantaged of the parish. At 31 December 2020 the charities held net assets of £36,420 (2019 - £36,400).
During the year total donations of £9,885 (2019 - £9,041) were received from members of the PCC.
During the year, rent totalling £10,488 (2019 - the same) was received from Oliver Pearcey, a member of the PCC.
## **20. COVID-19**
Since March 2020, the spread of COVID-19 has severely impacted many local economies around the globe. Measures taken to contain the spread of the virus, including quarantines, social distancing, and closures of non-essential services have triggered significant disruptions to businesses, resulting in an economic slowdown.
The duration and impact of the COVID-19 pandemic, as well as the effectiveness of government and central bank responses, remains unclear at this time. It is not possible to reliably estimate the duration of severity of the consequences, as well as their impact on the financial position and results of the charity for future periods.
Page 25