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2021-12-31-accounts

Charity number: 1132166

THE HOLY INNOCENTS AND ST JOHN

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

THE HOLY INNOCENTS AND ST JOHN

CONTENTS

Page
Reference and administrative details of the Charity and advisers (followed by PCC
report)
Independent examiner's report 1
Statement of financial activities 2
Balance sheet 3
Notes to the financial statements 4 - 20
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

THE HOLY INNOCENTS AND ST JOHN PCC Report for the year ended 31 December 2021

PCC members who served during the year:

Rev David Matthews Rev Paulette Mullings Jane Jales Robyn Gray – Churchwarden Appointed 21.03.21 Joe Gordon – Churchwarden Appointed 21.03.21 Deborah Wadham resigned 31.08.21 Oliver Pearcey Sandra Murray resigned 3.7.21 Caroline Gordon – Treasurer Janis Cammell OBE Stephen Farrant resigned 21.03.21 Sam Davies Marcia Hill Peter Smith resigned 1.2.21 Rhys Jones resigned 1.2.21 Jamie Carter - Secretary James Copeman Appointed 21.03.21 Claudette Gray Appointed 21.03.21 Antony Biggs Appointed 21.03.21

Trustees’ report

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 1.2.21 Peter Smith and Rhys Jones resigned from the PCC. At the Annual Parochial meeting on 21 March 2021 James Copeman, Claudette Gray and Antony Biggs were all appointed to the PCC; on the same date, Stephen Farrant stood down from the PCC. At the same meeting, Robyn Gray and Joe Gordon were appointed as Churchwardens, with Caroline Gordon reappointed as Treasurer and Jamie Carter appointed as Secretary. Deborah Wadham stood down as Churchwarden at this same meeting; they two Churchwarden were subsequently elected unopposed. On 3.7.21 Sandra Murray resigned from the PCC. On 31.8.21 Deborah Wadham resigned from the PCC.

Jane Lawrence continued as Electoral Roll Officer. The Children’s Safeguarding Officer continues to be Louise Wilson. Ella Burns continued as Children’s Champion. As at 31.12.21 the PCC membership comprised: Rev David Matthews, Rev Paulette Mullings, Jane Jales, Robyn Gray, Joe Gordon, Oliver Pearcey, Caroline Gordon, Janis Cammell OBE, Sam Davies, Marcia Hill, Jamie Carter, James Copeman, Claudette Gray and Antony Biggs.

PCC meetings were held on the following dates: 7.3.21; 21.3.21; 16.5.21; 4.7.21; 14.9.21; 30.11.21. All meetings were quorate.

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 2020 was. 315. As at 31 December 2021 there were 315 people on the Roll: 5 were added, 6 were 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.

Fabric Report

The duration of 2021 has been a rollercoaster of a year, for both the church and the congregation. However, since July 4 2020, Holy Innocents has kept the doors open and continued service, with restrictions (no communion to be received by the congregation, no choir or singing, no junior church and no tea/coffee gathering). With 2-metre distancing rule, the congregation take the opportunity to

i

THE HOLY INNOCENTS AND ST JOHN PCC Report for the year ended 31 December 2021

gather outside and converse this way, instead of the usual tea and coffee. Even though there have been limited interaction; with the love and warmth of HIC, this has brought new local residents to the church who have now become regular members.

We have since been able to reintroduce after service tea, coffee and cakes, due to the lowering of restrictions, which has brought a lot of life back into the church.

Even though the government guidelines during the course of 2021 weren’t transparent, in the 3[rd] Quarter of 2021 the income has greatly increased compared to 2020, thanks to loyal hirers of the church 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 completed necessary scheduled maintenance, unscheduled repairs, and minor works.

The gardens have been maintained by Ciro Ascione.

With great thanks to The Mercers Company and Distinctive living, the lower hall kitchenette has now been refurbished at such an amazing time where restrictions have fallen, and the congregation can now gather in peace and harmony.

Thanks to the money Stella’s Bazaar raised for church renovations, this will contribute to the refurbishment of the church accessible toilet. With great happiness and thanks to Stella & Janis’ hard work and dedication, the restroom will be refurbished and user-friendly at the start of 2022.

Routine scheduled maintenance and inspections

Date Supplier Description
12/04/2021 Hall & Randall
Plumbers		 Carried out boiler service & Test.
21/04/2021 Hall & Randall Service on upper Hall Boiler.
25/08/2021 Fullers Builders Gutter Clearing
21/10/2021 Independent Heating &
Cooling		 Heating service.
25/11/2021 Wintle Organs Tuning Tuning & Adjustments
Nov 2021 Ciro Ascione Memorial Garden: Cleaning down walls, clearing away
bird droppings, weeding, replanting pots, and tidying
ready for Remembrance Sunday service.
13/12/2021 City Boiler Repair Repairs to Wet System Boiler

Unscheduled repairs

Date Supplier Description
01/07/2021 Green
Electrical
&
Maintenance Services		 To conduct an NICEIC Electrical Installation Condition
Report on existing and all existing circuit.
17/08/2021 Magnet & Amanda
(Distinctive Living)		 Kitchenette units provided by Magnet in July 2021, and
installed by Distinctive Living in August 2021
24/09/2021 Green Electrical &
Maintenance Services		 Water heater in kitchen was tripping the electric due to
leakage.
16/12/2021 Skyline Roofing Replaced leaking hoppers with new longer pipes.

ii

THE HOLY INNOCENTS AND ST JOHN

PCC Report for the year ended 31 December 2021

Financial Review

The accounts for Year Ended 31 December 2021 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 2021, 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.

Although the first quarter saw limited rental income due to COVID-19 Restrictions, by the end of the year rental income was almost back to pre-Covid levels, helped by renting the West Hall and Vestry again.

We received a grant from the Mercers company and received generous donations to the kitchen appeal, which meant we could refurbish the lower hall kitchen and decorate the lower hall.

We fundraised for the renovations fund with a bazaar that raised £823.

Various repairs were carried out, including repairing the hoppers and the boiler.

The gas supplier to the church fell victim to the energy crisis putting us onto a much higher tariff. We are mindful of the rising energy prices next year.

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.

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 2021 the general fund is reporting a cumulative surplus of £178,062, again a big improvement on the previous year (2020 - £141,465). General fund expenditure in 2021 amounted to £129,070. Due to COVID-19 restrictions, this is still significantly less than 2019 when general fund expenditure was £186,926. Looking at 2022, with restrictions lifting, it is estimated that the balance held on the general fund at the balance sheet date would cover 11 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, and signed on its behalf by:

................................................

Dated: 13 March 2022

Rev David Matthews, Incumbent

iii

THE HOLY INNOCENTS AND ST JOHN

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2021

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 2021.

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: 25 March 2022 Richard Hill FCA

Griffin Stone Moscrop & Co Chartered Accountants 21-27 Lamb's Conduit Street London WC1N 3GS

Page 1

THE HOLY INNOCENTS AND ST JOHN

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021

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
2021
£
10,542
-
-
-
10,542
5,569
5,569
992
5,965
82,937
5,965
88,902		 Unrestricted
funds
2021
£
66,342
74,124
2,026
23,131
165,623
129,070
129,070
5,783
42,336
1,192,419
42,336
1,234,755		 Total
funds
2021
£
76,884
74,124
2,026
23,131
176,165
134,639
134,639
6,775
48,301
1,275,356
48,301
1,323,657		 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

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 4 to 20 form part of these financial statements.

Page 2

THE HOLY INNOCENTS AND ST JOHN

BALANCE SHEET AS AT 31 DECEMBER 2021

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		 21,724
246,551
268,275
(19,186)		 2021
£
1,909
72,659
1,000,000
1,074,568
249,089
1,323,657
1,323,657
1,323,657
88,902
1,234,755
1,323,657		 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

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Caroline Gordon Honorary Treasurer Date: 13 March 2022

The notes on pages 4 to 20 form part of these financial statements.

Page 3

THE HOLY INNOCENTS AND ST JOHN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

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.

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 4

THE HOLY INNOCENTS AND ST JOHN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

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:

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 5

THE HOLY INNOCENTS AND ST JOHN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

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 6

THE HOLY INNOCENTS AND ST JOHN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

2. Income from donations and legacies

Donations
Legacies
Grants
Coronavirus Job Retention Scheme grant
Income tax recoverable on Gift Aid		 Restricted
funds
2021
Unrestricted
funds
2021
£
£
4,012
53,549
-
-
5,597
1,067
-
-
933
11,726
10,542
66,342		 Total
funds
2021
£
57,561
-
6,664
-
12,659
76,884

A donation in kind was received in respect of time given by a building company to carry out the installation work in relation to the lower hall kitchenette. Within these financial statements no monetary value has been attributed to this donation or equivalent expenditure that it covered on the grounds of it being immaterial within the context of the financial statements as a whole.

Donations
Legacies
Grants
Government grants
Income tax recoverable on Gift Aid		 Restricted
funds
2020
£
-
21,995
-
-
-
21,995		 Unrestricted
funds
2020
£
69,193
24,189
1,075
6,462
15,466
116,385		 Total
funds
2020
£
69,193
46,184
1,075
6,462
15,466
138,380

Page 7

THE HOLY INNOCENTS AND ST JOHN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

3. Income from charitable activities

Unrestricted
funds
2021
£
Fees from weddings and funerals
2,305
Sundry income
95
Rental of church hall
60,686
Rental income from nursery
10,838
Ground rent
200
74,124
Unrestricted
funds
2020
£
Fees from weddings and funerals
452
Sundry income
10
Rental of church hall
24,185
Ground rent
(950)
23,697		 Total
funds
2021
£
2,305
95
60,686
10,838
200
74,124
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 8

THE HOLY INNOCENTS AND ST JOHN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

4. Income from other trading activities: Fundraising Income

Income from fundraising events

Unrestricted
funds
2021
£
Fundraising events
2,026
Unrestricted
funds
2020
£
Fundraising events
1,234		 Total
funds
2021
£
2,026
Total
funds
2020
£
1,234

5. Investment income

Unrestricted
funds
2021
£
Rental income from investment
(net of letting fees)
20,976
Dividends and interest
2,155
23,131
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		 Total
funds
2021
£
20,976
2,155
23,131
Total
funds
2020
£
20,976
(499)
20,477

Page 9

THE HOLY INNOCENTS AND ST JOHN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

6. Analysis of expenditure on charitable activities

Summary by fund type

Restricted
funds
2021
Unrestricted
funds
2021
£
£
Church Activities
5,569
129,070
Unrestricted
funds
2020
£
Church Activities
123,884
Summary by expenditure type
Depreciation
2021
Other costs
2021
£
£
Church Activities
477
134,162
Staff costs
2020
Depreciation
2020
Other costs
2020
£
£
£
Church Activities
13,375
469
110,040		 Total
funds
2021
£
134,639
Total
funds
2020
£
123,884
Total
funds
2021
£
134,639
Total
funds
2020
£
123,884

Page 10

THE HOLY INNOCENTS AND ST JOHN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

7. Analysis of expenditure by activities

Church Activities
Church Activities		 Church
activities
2021
£
105,820
Church
activities
2020
£
95,778		 Grant
funding of
activities
2021
£
2,509
Grant
funding of
activities
2020
£
3,429		 Support
costs
2021
£
26,310
Support
costs
2020
£
24,677		 Total
funds
2021
£
134,639
Total
funds
2020
£
123,884

Analysis of direct costs

Depreciation
Diocesan quota
Services
General repairs and maintenance
Insurance
Heat, light and other services		 Church
activities
2021
£
477
48,000
10,637
28,263
8,278
10,165
105,820		 Total
funds
2021
£
477
48,000
10,637
28,263
8,278
10,165
105,820

Page 11

THE HOLY INNOCENTS AND ST JOHN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

7. Analysis of expenditure by activities (continued)

Analysis of direct costs (continued)

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

Analysis of support costs

Office expenses
Telephone
Professional fees
Cleaning and gardening
Bank charges
Governance costs		 Support
costs for
church
activities
2021
£
1,597
948
10,623
10,210
292
2,640
26,310		 Total
funds
2021
£
1,597
948
10,623
10,210
292
2,640
26,310

Page 12

THE HOLY INNOCENTS AND ST JOHN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

7. Analysis of expenditure by activities (continued)

Analysis of support costs (continued)

Staff costs
Office Expenses
Telephone
Professional fees
Cleaning and gardening
Bank charges
Governance costs		 Support
costs for
church
activities
2020
£
13,375
1,893
716
1,419
4,628
246
2,400
24,677		 Total
funds
2020
£
13,375
1,893
716
1,419
4,628
246
2,400
24,677

8. Analysis of grants

Grants paid
Grants paid		 Grants to
Institutions
2021
£
2,509
Grants to
Institutions
2020
£
3,429		 Total
funds
2021
£
2,509
Total
funds
2020
£
3,429

Page 13

THE HOLY INNOCENTS AND ST JOHN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

9. Staff costs

2021
£
Wages and salaries
-
Contribution to defined contribution pension schemes
-
-
The average number of persons employed by the Charity during the year was as follows:
2021
No.
Management
-		 2020
£
12,986
390
13,376
2020
No.
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 (2020 - the same).

Page 14

THE HOLY INNOCENTS AND ST JOHN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

10. Tangible fixed assets

Cost or valuation
At 1 January 2021
Additions
At 31 December 2021
Depreciation
At 1 January 2021
Charge for the year
At 31 December 2021
Net book value
At 31 December 2021
At 31 December 2020		 Fixtures and
fittings
£
26,336
510
26,846
24,977
374
25,351
1,495
1,358		 Office
equipment
£
1,537
-
1,537
1,019
103
1,122
415
518		 Total
£
27,873
510
28,383
25,996
477
26,473
1,910
1,876

Page 15

THE HOLY INNOCENTS AND ST JOHN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

11. Investment property

Valuation
At 1 January 2021
At 31 December 2021		 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 2021 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 2021
Revaluations
At 31 December 2021
Net book value
At 31 December 2021
At 31 December 2020		 Listed
investments
£
65,884
6,775
72,659
72,659
65,884

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THE HOLY INNOCENTS AND ST JOHN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

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 (2020 - the same);

1,174 Prudential plc shares (2020 - the same);

29 Jackson inc shares (2020 - NIL);

1,174 M&G plc shares (2020 - the same); 1,109.093 units of M&G Charifund (2020 - the same); and

1,277.07 CBF Church of England Investment Fund income shares (2020 - 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 2021 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		 2021
£
18,646
3,078
21,724		 2020
£
26,956
48,173
75,129

14. Creditors: Amounts falling due within one year

Trade creditors
Other creditors
Accruals and deferred income		 2021
£
1,915
3,248
14,023
19,186		 2020
£
1,468
2,748
23,213
27,429

Page 17

THE HOLY INNOCENTS AND ST JOHN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

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
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
2021
£
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		 Income
£
-
-
-
-
-
-
165,623
165,623
10,542
-
-
10,542
176,165		 Expenditure
£
-
-
-
-
-
-
(129,070)
(129,070)
(5,569)
-
-
(5,569)
(134,639)		 Gains/
(Losses)
£
5,739
-
-
-
-
5,739
44
5,783
-
992
-
992
6,775		 Balance at
31
December
2021
£
47,126
995,000
5,000
8,752
815
1,056,693
178,062
1,234,755
59,557
7,350
21,995
88,902
1,323,657

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 18

THE HOLY INNOCENTS AND ST JOHN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

16. Summary of funds

Summary of funds - current year

Designated funds
General funds
Restricted funds		 Balance at 1
January
2021
£
1,050,954
141,465
82,937
1,275,356		 Income
£
-
165,623
10,542
176,165		 Expenditure
£
-
(129,070)
(5,569)
(134,639)		 Gains/
(Losses)
£
5,739
44
992
6,775		 Balance at
31
December
2021
£
1,056,693
178,062
88,902
1,323,657

Page 19

THE HOLY INNOCENTS AND ST JOHN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

17. Analysis of net assets between funds

Analysis of net assets between funds - current year

Tangible fixed assets
Fixed asset investments
Investment property
Current assets
Creditors due within one year
Total		 Restricted
funds
2021
Unrestricted
funds
2021
£
£
-
1,909
-
72,659
-
1,000,000
88,902
179,373
-
(19,186)
88,902
1,234,755		 Total
funds
2021
£
1,909
72,659
1,000,000
268,275
(19,186)
1,323,657

Analysis of net assets between funds - prior year

Tangible fixed assets
Fixed asset investments
Investment property
Current assets
Creditors due within one year
Total		 Restricted
funds
2020
£
-
6,358
-
76,579
-
82,937		 Unrestricted
funds
2020
£
1,876
59,526
1,000,000
158,446
(27,429)
1,192,419		 Total
funds
2020
£
1,876
65,884
1,000,000
235,025
(27,429)
1,275,356

18. 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 2021 the charities held net assets of £36,422 (2020 - £36,420).

During the year total donations of £5,708 (2020 - £9,885) were received from members of the PCC.

During the year, rent totalling £10,488 (2020 - £10,488) was received from Oliver Pearcey, a member of the PCC.

Page 20

THE HOLY INNOCENTS AND ST JOHN PCC Report for the year ended 31 December 2021

PCC members who served during the year:

Rev David Matthews Rev Paulette Mullings Jane Jales Robyn Gray – Churchwarden Appointed 21.03.21 Joe Gordon – Churchwarden Appointed 21.03.21 Deborah Wadham resigned 31.08.21 Oliver Pearcey Sandra Murray resigned 3.7.21 Caroline Gordon – Treasurer Janis Cammell OBE Stephen Farrant resigned 21.03.21 Sam Davies Marcia Hill Peter Smith resigned 1.2.21 Rhys Jones resigned 1.2.21 Jamie Carter - Secretary James Copeman Appointed 21.03.21 Claudette Gray Appointed 21.03.21 Antony Biggs Appointed 21.03.21

Trustees’ report

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 1.2.21 Peter Smith and Rhys Jones resigned from the PCC. At the Annual Parochial meeting on 21 March 2021 James Copeman, Claudette Gray and Antony Biggs were all appointed to the PCC; on the same date, Stephen Farrant stood down from the PCC. At the same meeting, Robyn Gray and Joe Gordon were appointed as Churchwardens, with Caroline Gordon reappointed as Treasurer and Jamie Carter appointed as Secretary. Deborah Wadham stood down as Churchwarden at this same meeting; they two Churchwarden were subsequently elected unopposed. On 3.7.21 Sandra Murray resigned from the PCC. On 31.8.21 Deborah Wadham resigned from the PCC.

Jane Lawrence continued as Electoral Roll Officer. The Children’s Safeguarding Officer continues to be Louise Wilson. Ella Burns continued as Children’s Champion. As at 31.12.21 the PCC membership comprised: Rev David Matthews, Rev Paulette Mullings, Jane Jales, Robyn Gray, Joe Gordon, Oliver Pearcey, Caroline Gordon, Janis Cammell OBE, Sam Davies, Marcia Hill, Jamie Carter, James Copeman, Claudette Gray and Antony Biggs.

PCC meetings were held on the following dates: 7.3.21; 21.3.21; 16.5.21; 4.7.21; 14.9.21; 30.11.21. All meetings were quorate.

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 2020 was. 315. As at 31 December 2021 there were 315 people on the Roll: 5 were added, 6 were 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.

Fabric Report

The duration of 2021 has been a rollercoaster of a year, for both the church and the congregation. However, since July 4 2020, Holy Innocents has kept the doors open and continued service, with restrictions (no communion to be received by the congregation, no choir or singing, no junior church and no tea/coffee gathering). With 2-metre distancing rule, the congregation take the opportunity to

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THE HOLY INNOCENTS AND ST JOHN PCC Report for the year ended 31 December 2021

gather outside and converse this way, instead of the usual tea and coffee. Even though there have been limited interaction; with the love and warmth of HIC, this has brought new local residents to the church who have now become regular members.

We have since been able to reintroduce after service tea, coffee and cakes, due to the lowering of restrictions, which has brought a lot of life back into the church.

Even though the government guidelines during the course of 2021 weren’t transparent, in the 3[rd] Quarter of 2021 the income has greatly increased compared to 2020, thanks to loyal hirers of the church 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 completed necessary scheduled maintenance, unscheduled repairs, and minor works.

The gardens have been maintained by Ciro Ascione.

With great thanks to The Mercers Company and Distinctive living, the lower hall kitchenette has now been refurbished at such an amazing time where restrictions have fallen, and the congregation can now gather in peace and harmony.

Thanks to the money Stella’s Bazaar raised for church renovations, this will contribute to the refurbishment of the church accessible toilet. With great happiness and thanks to Stella & Janis’ hard work and dedication, the restroom will be refurbished and user-friendly at the start of 2022.

Routine scheduled maintenance and inspections

Date Supplier Description
12/04/2021 Hall & Randall
Plumbers		 Carried out boiler service & Test.
21/04/2021 Hall & Randall Service on upper Hall Boiler.
25/08/2021 Fullers Builders Gutter Clearing
21/10/2021 Independent Heating &
Cooling		 Heating service.
25/11/2021 Wintle Organs Tuning Tuning & Adjustments
Nov 2021 Ciro Ascione Memorial Garden: Cleaning down walls, clearing away
bird droppings, weeding, replanting pots, and tidying
ready for Remembrance Sunday service.
13/12/2021 City Boiler Repair Repairs to Wet System Boiler

Unscheduled repairs

Date Supplier Description
01/07/2021 Green
Electrical
&
Maintenance Services		 To conduct an NICEIC Electrical Installation Condition
Report on existing and all existing circuit.
17/08/2021 Magnet & Amanda
(Distinctive Living)		 Kitchenette units provided by Magnet in July 2021, and
installed by Distinctive Living in August 2021
24/09/2021 Green Electrical &
Maintenance Services		 Water heater in kitchen was tripping the electric due to
leakage.
16/12/2021 Skyline Roofing Replaced leaking hoppers with new longer pipes.

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THE HOLY INNOCENTS AND ST JOHN

PCC Report for the year ended 31 December 2021

Financial Review

The accounts for Year Ended 31 December 2021 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 2021, 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.

Although the first quarter saw limited rental income due to COVID-19 Restrictions, by the end of the year rental income was almost back to pre-Covid levels, helped by renting the West Hall and Vestry again.

We received a grant from the Mercers company and received generous donations to the kitchen appeal, which meant we could refurbish the lower hall kitchen and decorate the lower hall.

We fundraised for the renovations fund with a bazaar that raised £823.

Various repairs were carried out, including repairing the hoppers and the boiler.

The gas supplier to the church fell victim to the energy crisis putting us onto a much higher tariff. We are mindful of the rising energy prices next year.

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.

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 2021 the general fund is reporting a cumulative surplus of £178,062, again a big improvement on the previous year (2020 - £141,465). General fund expenditure in 2021 amounted to £129,070. Due to COVID-19 restrictions, this is still significantly less than 2019 when general fund expenditure was £186,926. Looking at 2022, with restrictions lifting, it is estimated that the balance held on the general fund at the balance sheet date would cover 11 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, and signed on its behalf by:

................................................

Dated: 13 March 2022

Rev David Matthews, Incumbent

iii