# **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL**
# **PARISH CHURCH OF ST MATTHEW, CROYDON** Registered Charity No. 1132508
# **Annual Report and unaudited Financial Statements of the Parochial Church Council For the year ended 31st December 2020**
**Principal address:** St Matthew’s Church of England Church Chichester Road, Croydon CR0 5NQ
## **Incumbent:**
The Reverend Simon Foster
The Vicarage 7 Brownlow Road Croydon, CR0 5JT
## **Bankers:**
(Current & Deposit Account)
CAF Bank Ltd 25 Kings Hill Avenue Kings Hill, West Malling Kent, ME19 4JQ
(Deposit Account)
CCLA Investment Management Ltd The CBF Church of England Funds Senator House
85 Queen Victoria Street London, EC4V 4ET
## **Independent Examiner:**
Chaweevan Williams FCCA Verdant Accountants Limited 167 Clarence Avenue New Malden Surrey, KT3 3TX
9
## **Trustees Annual Report St Matthew’s, Croydon Parochial Church Council**
The trustees present their annual report and financial statements of the charity for the year ended 31 December 2020. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s trust deed, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice (FRS 102) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland.
## **Aim and purposes**
St Matthew’s Parochial Church Council (PCC) has the responsibility of co-operating with the Incumbent in promoting in the ecclesiastical parish, the whole mission of the Church, pastoral, evangelistic, social and ecumenical.
The vision statement of St Matthew’s is:
## _Sharing the love of God._
The PCC is also specifically responsible for the maintenance of the church complex of St Matthew’s and the two church bungalows in Chichester Road, Croydon.
## **Objects and activities**
The PCC, a charity governed by the PCC (Powers) Measure 1956 as amended and Church Representation Rules 2020, is committed to enabling as many people as possible to worship at our church and to become part of our parish community of St Matthew’s. The PCC maintains an overview of worship throughout the parish and makes suggestions on how our services can involve the many groups that live within our parish. Our services and worship put faith into practice through prayer and scripture, music and sacrament.
When planning our activities for the year, the Incumbent and the PCC have considered the Charity Commission’s guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion. In particular, we try to enable ordinary people to live out their faith as part of our parish community through:
- Worship and prayer; learning about the Gospel, and developing their knowledge and trust in Jesus.
- Provision of pastoral care for people living in the parish.
- Missionary and outreach work.
To facilitate this work it is important that we maintain the fabric of St Matthew’s church complex and the two bungalows.
10
## **Achievements and performance**
## **The Vicar**
We thank the Revd Simon Foster for all his work in both the church and the community. Revd Richard Hinder, previously our Assistant Priest, who has the Bishop’s Permission to Officiate helps on an occasional basis. Revd Darius Weithers, who joined St Matthew’s as our new Curate in July 2018 moved to Holy Saviour, Croydon in March , although he remains licensed to St Matthew’s. Revd Simon Foster continued as Area Dean and Revd Linda Fox who is licenced to St Matthew’s as Assistant Area Dean, took over as Priest in Charge at St George’s, Waddon during their interregnum beginning in September 2020.
## **Worship and prayer**
The PCC is keen to offer a range of services during the week and over the course of the year that our community finds both beneficial and spiritually fulfilling.
We welcome families into our church and provide a crèche and classes for children during the Sunday 10:00 am services. The said Eucharist at 08:30 am on Sundays and the Morning Prayer services during the week offer quieter more thoughtful services, while Evensong and Taizé services provide strong musical themes. Special services are held to celebrate the seasons of the church year such as Christmas and Easter. Prayer and bible study and Lent groups are available, offering more informal environments. All are welcome to attend our regular services. During the year we held a number of Healing Services on the first Sunday of the month and All Age Services on the second Sunday. However, due to the Corona virus the church has followed Government and Church of England Guidance and access to the building has been very limited or nonexistent. Worship has continued online as have bible study and lent groups and coffee mornings.
As well as our regular services, we enable our community to celebrate and thank God at the milestones of the journey through life. During `the period, we have celebrated two baptisms and one funeral in church and five funerals taken at the crematorium.
## **Membership and attendance**
There were 117 members on the Electoral Roll on 31[st] December 2020. The average Sunday attendance is eighty five adults and ten children under sixteen years of age.
## **Diocesan/Deanery Synods**
Two lay members of the PCC are members of the Diocesan Synod and three lay members of the PCC are elected members of the Deanery Synod. This provides the PCC with an important link between the parish and the wider structures of the church.
11
## **The Church complex**
Normally our church is open to the community for worship, prayer, study, social and other functions. We use the facilities to welcome people who are not necessarily regular members of our congregation to events such as Saturday coffee mornings and the shelter for the homeless during winter. The hall and other rooms are used by a wide range of groups as the Community Centre of Park Hill and the wider Croydon community. However, with the rise of the Corona Virus pandemic these were curtailed during the lockdowns.
Our Fabric Team monitors the state of the church buildings and ensures that they are appropriately repaired and maintained. During the period, the main work that has been carried out on the church complex included the updating the lighting in the church and investigation by professionals into the state of the church roof – more details are contained in the Fabric Committee Report.
## **Pastoral care**
During the year our Saturday coffee mornings have continued to provide a meeting place for the community – virtually throughout the Corona virus pandemic. The reserved sacrament is taken to communicants in local care homes. Regular parcels of food and toiletries collected through the “Lord’s Larder” were sent to the West Croydon Refugee Day Centre. St Matthew’s hosted Croydon Churches Shelter for the Homeless.
## **Mission and evangelism**
The small committee that St Matthew’s set up to consider the future giving for mission and evangelism recommended that St Matthew’s continued to support the Egyptian Diocesan Association. We have made a donation for the development of teaching for young people within Egypt. We continue to pray for that country.
## **Volunteers**
We would like to thank all the volunteers who work so hard to make our church the lively and vibrant community that it is. In particular we want to mention our Churchwardens Rohini Abhayaratne and Stephen Collingwood who have worked tirelessly on our behalf. While there are too many people to name everyone individually, Terry Mitchell must also be mentioned and thanked. As can be seen from this report, his work as Treasurer is an onerous one, and he has done it with great thoroughness and care. David Williams has continued as PCC Secretary and Electoral Roll officer and Steve Tucker has continued as Magazine Editor and is a member of the Communications Team. Jon Highton has been instrumental in his production of online services during the pandemic.
12
|**Expenditure**|**2020**|**2019**|
|---|---|---|
||**£000s**|**£000s**|
|Parish Support Fund|42|
34|
|Repairs|5|27|
|Depreciation|4|4|
|Wages:|11|12|
|Printing|17|17|
|Utilities|7|10|
|Service Costs and Clergy Expense|3|3|
|Insurance Church|3|3|
|Curates Housing Costs|22|22|
|Other expenses|6|16|
|Bungalows|7|6|
|**Total expenses**|**127**|**154**|
|**Surplus for the year**|**18**|**27**|
|The bungalows are let commercially and we receive a regular
monthly rental from both. They are managed by a local
Estate Agent on our behalf.|||
13
In 2016 Southwark Diocese is changed the way that parishes provide funds. Instead of a quota system they moved to the Parish Support Fund where parishes pledge money. St Matthew’s traditionally had given the diocese more money than it receives and this has now changed, in part due to providing housing for a curate. St Matthew’s pledge for 2020 was gratefully received by the diocese after discussion with the Archdeacon.
## **Reserves Policy**
At 31 Dec 2020 the PCC’s reserves were: unrestricted reserves £146,506 (2019: - – £169,372) designated fund £73,766 (2019:- £58,666) endowment fund £800,000 (2019 £800,000); restricted fund £28,398 (2019 - £7,277). The PCC has free reserves, comprising unrestricted funds, less fixed assets of £141,327 (2019 - £155,357). The PCC has agreed a policy of maintaining a minimum reserve of cash, so that we can pay our bills as they arrive and to provide a cushion against any unexpected expenses. If the cash balance falls below £75,000, (agreed by PCC) no avoidable expenditure will be undertaken until the reserve has been restored.
## **Endowment Policy**
The investments held are two freehold properties and cash and short term deposits. The Freehold properties are valued on an annual basis. Trustees having regard to the liquidity requirements hold surplus funds on short term interest bearing deposit accounts set to achieve a rate of return at least equal to the cost of living increase as measured by the retail price index. Due to wider economic circumstances, deposit rates have been depressed and so this aim was not achieved. The investment funds held . on deposit achieved an average rate of 0.5% compared to the retail price index of 1.2%
## **Risk Management**
The principal risks faced by the PCC are concerned with ensuring that the Health and Safety, Employment and Safeguarding of Adults and Children’s policies of the Church are maintained. We also through the Finance Team ensure that all aspects of the finances of the church are dealt with in compliance with the rules of the Charities Act, SORP and Charity Commissioners. The Fabric Team reviews the repair and maintenance of both the church and the bungalows. All policies are reviewed by the PCC on a regular basis.
## **Plans for the future**
The decision-making of the PCC is shaped by our Mission Action Plan (MAP). A Mission Development Group has met with the aim of seeking ways we can more effectively reach out to the community.
## **Structure, governance and management**
The method of appointment of PCC members is set out in the Church Representation Rules. At St Matthew’s the membership of the PCC consists of our Vicar (Incumbent),
14
Churchwardens, Readers, SPAs and members elected by those on the electoral roll. The Treasurer is ex-officio member and the Secretary is an elected lay member. All those who attend our services are encouraged to register on the electoral roll.
The PCC members are responsible for making decisions on all matters of general concern and importance to the parish including how the funds of the PCC are to be spent.
The full PCC met 9 times during the year, with an average attendance of 75.5% and the Standing Committee m et once. Given its wide responsibilities the PCC has a number of committees, each dealing with a particular aspect of parish life.
## These committees are:
The Standing Committee, which is the only committee required under church law and is empowered to conduct the business of the PCC between meetings.
The Finance Team, which monitors our income and expenses, makes recommendations to the PCC concerning significant items and matters of policy. The Fabric Team, which advises and oversees all matters relating to the buildings and grounds. This spawned the Roof Team to consider matters related to replacing the church roof.
The Pastoral Team, whose objectives include hospitality, visiting the sick and bereaved and arranging events for the elderly and housebound.
The Social and Fellowship Team organizes a wide range of events with the aim of bringing fellowship and enjoyment to the community of St Matthew’s.
The Fundraising Team organizes a wide range of events with the aim of raising funds for St Matthew’s.
The Communications Team handles publicity and communications with the community and more widely through our website www.stmatthew.org.uk
The All-Age Worship Team organises the all-age worship services of St Matthew’s.
The Young Church Leaders Team handles worship for the young of the parish.
All these teams report regularly to the PCC.
## **PCC membership**
Members of the PCC are either ex-officio, elected by the Annual Parochial Church Council Meeting, or co- opted in accordance with Church Representation Rules.
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During the year, the following served as members of the PCC:
Revd Simon Foster Revd Darius Weithers Revd Linda Fox Rohini Abhayaratne Abosede Akadiri Suzanne Collins Stephen Collingwood Laura Easton Christopher Grayson (until June 2020) John Ingman (until October 2020 Terry Mitchell Dorothy Onyekwe Paul Parmenter Jane Passfield Alison Radford James Reid Jane Smaldon (from October 2020) Carolyn Tweed Jan Williams David Williams OBE
## **Thank you**
None of what we do would be possible without the generous giving by members of our church which enables us to offer “the love of Christ” to the community. We are most grateful for all you give to us: in terms of your time, talents and money. God bless you all.
The Trustees’ Report has been approved by the Trustees at their meeting on 4[th] May 2021
Revd Simon Foster Chairman of the PCC
and
Stephen Collingwood Churchwarden
16
## **Statement of Financial Activities For the year ended 31 December 2020**
|Note
**Income**
_Donations & Legacies_
2a
_Oher trading activities_
2b
_Income from_
_Investments_
2c
_Church Activities_
2d
**Total Income**
**Expenditure**
_Raising funds_
3a
_Church Activities_
3b
**Total Expenditure**
**Net Income/**
**(expenditure)**
Gains on Investment
assets
Gross Transfers between
Funds
10
**Net movement in funds**
Total funds brought
forward at 1stJanuary
2020
**Total funds**
**carried forward at**
**31st December 2020**|Unrestricted
Designated Restricted
Endowment
**TOTAL**
TOTAL
Funds
Funds
Funds
Funds
**FUNDS**
FUNDS
**2020**
2019
£
£
£
£
**£**
£
80,061
100
22,750
-
**102,911**
97,343
2,764
-
-
-
**2,764**
17,287
29,823
-
-
-
**29,823**
30,126
4,201
-
-
-
**4,201**
36,456|
|---|---|
||116,849
100
22,750
-
**139,699**
181,212|
||330
-
-
-
**330**
1,721
125,556
-
458
-
**126,014**
152,261|
||125,886
0
458
-
**126,344**
153,982|
||(9,037)
100
22,292
-
**13,355**
27,230
-
**0**
41
(13,829)
15,000
(1,171)
-
**-**
-|
||(22,866)
15,100
21,121
**13,355**
27,271|
||169,372
58,666
7,277
800,000
**1,035,315**
1,008,044|
||**146,506**
**73,766**
**28,398**
**800,000**
**1,048,670**
1,035,315|
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## **Balance Sheet at 31 December 2020**
|Notes
**Fixed assets**
Tangible fixed assets
5
Investment Property
6
**Total fixed assets**
**Current Assets**
Debtors
7
Deposit Account
Cash at Bank and in hand
**Current Liabilities**
Creditors: amounts falling due within one year
8
**Net Current assets**
**Total assets less current liabilities**
**Funds**
**Endowment funds**
10
**Restricted funds**
10
**Designated Funds**
10
**Unrestricted funds**
10|**2020**
**£**
**10,470**
**800,000**
**810,470**
**11,222**
**148,888**
**86,557**
**246,667**
**8,467**
**238,200**
**1,048,670**
**800,000**
**28,398**
**73,766**
**146,506**
**1,048,670**|2019
£
14,015
800,000|
|---|---|---|
|||814,015|
|||27,402
131,265
72,151|
|||230,818|
|||9,518|
|||221,300|
|||1,035,315|
|||800,000
7,277
58,666
169,372|
|||1,035,315|
Approved by the Parochial Church Council on 4[th] May 2021 and signed on its behalf
Revd Simon Foster Chairman
T F Mitchell Treasurer
The accompanying notes form part of these financial statements
18
**Notes to the financial statements For the year ended 31 December 2020**
## **1. Accounting policies**
## **a. Accounting convention**
The financial statements have been prepared in accordance with the current Church Accounting Regulations together with applicable accounting standards and the Charities Statement of Recommended Practice FRS 102 (effective 1 January 2015.
The financial statements have been prepared under the historical cost convention and under the going concern basis. The financial statements include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their affiliation to another body, nor those which are informal gatherings of church members.
## **b. Funds accounting**
Funds held by the PCC are:
_Unrestricted funds_ - general funds which can be used for PCC ordinary purposes.
_Designated funds_ - monies set aside by the PCC out of unrestricted funds for specific future purposes or projects.
_Restricted funds_ - a) income from trusts or endowments which may be expended only on those restricted objects provided in the terms of the trust or bequest;
b) donations or grants received for a specific object or invited by the PCC for a specific object. The funds may only be expended on the specific object for which they were given. Any balance remaining unspent at the end of the year is carried forward as a balance on that fund.
_Endowment funds_ - funds the capital of which must be maintained; only income arising from the investment of the endowment may be used, either as restricted or unrestricted funds, depending on the purpose set out in the terms of the original endowment.
## **c. Incoming resources**
All incoming resources are accounted for gross.
## **Donations and legacies**
_Collections_ are recognised when received. _Planned giving_ receivable is recognised only when received.
_Income tax_ recoverable on Gift Aid donations is recognised when the income is recognised.
_Grants and legacies_ are recognised when the PCC is legally entitled to the amount due, and an inflow is probable.
## **Income from investments**
Interest is accounted for as it accrues.
## **All other income**
All other income is recognised when it is receivable.
19
## **Gains and losses on investments**
Realised gains are recognised when the investments are sold. Unrealised gains and losses are accounted for on revaluation at 31 December each year.
## **d. Resources used**
Resources expended are accounted for on an accruals basis and are accounted for gross.
## _**Church Activities**_
The diocesan parish contribution is accounted for when due. Any parish contribution unpaid at 31 December is provided for in these accounts as an operational (though not a legal) liability and is shown as a creditor in the balance sheet.
## _**Support Costs**_
Support costs are allocated to church activities within the SOFA
## _**e.**_ **Fixed Assets**
## _**Tangible fixed assets**_
Consecrated and beneficed properties of any kind are excluded from the accounts in accordance with the Charities Act 2011. All such expenditure is written off as it is incurred.
Movable church furnishings held by the Vicar and Churchwardens on special trust for the PCC and which require a faculty for disposal, are accounted as inalienable property unless consecrated. They are listed in the church's inventory which can be inspected. For inalienable property acquired prior to 2000 there is insufficient cost information available and therefore such assets are not valued in the accounts. Individual items acquired since January 2000 have been capitalised in the accounts and depreciated over their useful economic life.
All expenditure on consecrated or beneficed buildings and individual items under £4,500 are written off in the year they were incurred.
## _**Depreciation**_
Depreciation is calculated to write down the cost of tangible fixed assets, over their expected useful lives. The rates generally applicable are:
Plant and Machinery 10% straight line Fixture, fittings and equipment 10% straight line
## **f. Investment Property**
In accordance with the SORP, the Church's freehold are held for long-term investment and are included in the balance sheet at their open market value. The surpluses or deficits on revaluation of such properties are transferred to the endowment fund. Depreciation is not provided in respect of freehold investment properties.
## **g. Current Assets**
Amounts owing to the PCC at 31 December in respect of fees, rents or other Income are shown as debtors less provision for amounts that may prove uncollectible.
Short-term deposits include cash held on deposit either with the CBF Church of England Funds, or at the bank.
20
## **Notes to the financial statements For the year ended 31 December 2020**
|**2**
**Income**
**2a**_Donations and Legacies_
Giving (Gift Aid)
Giving (Non Gift Aid)
Legacies
Tax Recoverable
Gift Aid Donations
Services (Plate etc)
Donations (Non Gift Aid)
Charity Vouchers
Floating Shelter
Deanery & Diocesan
Christmas Grant
Compassion(UK)
Mother Day Daffs
Other Income
**2b**_Other trading Activities_
Sundry Income
Fundraising
**2c**_Income from Investments_
Interest & Bungalow
rents
**2d**_Income from church_
_activities_
Church Hall lettings etc
Fees from weddings etc
Parish Magazine sales etc
**Total Income**|**TOTAL**
TOTAL
Unrestricted Designated
Restricted
Endowment
**FUNDS**
FUNDS
Funds
Funds
Funds
Funds
**2020**
2019
**£**
**£**
**£**
**£**
£
54,009
-
-
-
**54,009**
57,715
4,953
-
-
-
**4,953**
7,667
0
-
**0**
2,000
13,825
-
-
-
**13,825**
15,471
65
-
-
-
**65**
1,750
1,519
-
-
-
**1,519**
6,515
1,651
-
-
-
**1,651**
1,873
1,039
-
**1,039**
1,871
-
-
1,002
-
**1,002**
440
-
-
-
-
**0**
1,250
-
-
120
-
**120**
549
-
-
510
**510**
0
3,000
100
21,118
**24,218**
242|
|---|---|
||80,061
100
22,750
-
**102,911**
97,343|
||1,429
-
-
-
**1,429**
6,926
1,335
-
-
-
**1,335**
10,361|
||2,764
-
-
-
**2,764 **
17,287|
||29,823
-
-
-
**29,823**
30,126|
||29,823
-
-
-
**29,823**
30,126|
||3,073
-
-
-
**3,073**
34,052
223
-
-
-
**223**
1,023
905
-
-
-
**905**
1,381|
||4,201
-
-
-
**4,201 **
36,456|
|||
||116,849
100
22,750
-
**139,699**
181,212|
Income received in 2019 totalling £2,381 was attributable to restricted funds. £2,100 Designated and No Income was attributable to the endowment fund.
No income was attributable to the endowment fund.
21
## **Notes to the financial statements For the year ended 31 December 2020**
|**3**
**Expenditure**
**3a**
_Raising Funds_
Fundraising, Expenditure
(Social Events)
Communications
**3b**
_Church Activities_
Missionary & Charitable
giving
Compassion (UK)
_Ministry Costs:_
Parish Support Fund
Clergy Costs
Upkeep of Services
Church Running expenses
Youth
Churchyard Upkeep
Sundry Expenses
Printing Costs
Bungalows
Fees
Floating Shelter
Mothers Day Daffs
Depreciation
Examiner’s Fees
Wages and Salaries
Admin Expenses
Deanery & Diocesan
Christmas Grant
**Total expenditure**|**TOTAL**
TOTAL
Unrestricted
Designated
Restricted
Endowment
**FUNDS**
FUNDS
Funds
Funds
Funds
Funds
**2017**
2016
**£**
**£**
**£**
**£**
£
330
-
-
-
**330**
1,721
-
-
-
-
**0**
0|
|---|---|
||330
-
-
-
**330**
1,721|
||-
-
387
-
**387**
360
42,295
-
-
-
**42,295**
34,013
627
-
-
-
**627**
1,498
814
-
-
-
**814**
1,139
40,004
-
-
-
**40,004**
67,882
0
-
-
-
**0**
228
2,010
-
-
-
**2,010**
1,472
0
-
-
-
**0**
3,908
16,515
-
-
-
**16,515**
16,703
7,059
-
-
-
**7,059**
6,347
-
-
-
-
**0**
245
-
-
41
-
**41**
59
-
-
30
**30**
0
3,545
-
-
-
**3,545**
3,545
650
-
-
-
**650**
600
10,828
-
-
-
**10,828**
12,000
1,209
-
-
-
**1,209**
1,234
-
-
-
-
**-**
1,028|
||125,556
-
458
-
**126,014**
152,261|
|||
||125,886
-
458
-
**126,344**
153,982|
Expenditure in 2019 totalling £1,447 was attributable to restricted funds. No expenditure was attributable to the endowment fund
22
## **Notes to the financial statements For the year ended 31 December 2020**
## **4**
## **4a**
|**Staff Costs**|**2020**|2019|
|---|---|---|
||**£**|£|
|Wages and Salaries|**10,828**|12,000|
During the year the PCC employed an organist and a cleaner, both part time. The PCC also employed a Parish Administrator. None of the salaries attractedemployers national insurance contributions.
## **4b** Payments to PCC members
The Parish Administrator was employed and paid a salary and is also a Trustee. This appointment was agreed by the Charity Commissioners. No other Trustee received any form of remuneration.
## **5 Tangible fixed assets**
## **6**
|**Costs**
At 1 January 2020
Addition
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
I**nvestments**
**Cost**
As at 1 January 2020
**At 31 December 2020**
**Net book value**
**At 31 December 2020**
At 31 December 2019|**Plant &**
**Machinery**
**Fixtures, fittings**
**&**
**equipment**
**£**
**£**
29,036
172,103
-
-|**TOTAL**
**£**
201,139
-|
|---|---|---|
||**29,036**
**172,103**|**201,139**|
||29,036
158,088
-
3,545|187,124
3,545|
||**29,036**
**161,633**|**179,669**|
||||
||**0**
**10,470**|**10,470**|
||||
||0
14,015|14,015|
|||**Investment**
**Property**
**800,000**|
|||**800,000**|
|||**800,000**|
|||800,000|
The freehold of the bungalows, situated in Chichester Road, is recorded at the open market value at the year end. The bungalows were valued by local estate agents who are managing agents of the bungalows therefore know their condition and rental yield. There was not believed to have been an increase in value of the bungalows during the year. The bungalows are let commercially. The bungalows are owned by St Matthew's. The South London Church Fund and the Diocesan Board of Finance act as Custodial Trustees. The assets cannot be sold by the PCC without the prior consent of the South London Church Fund & the Diocesan Board of Finance. The Parish is responsible for their upkeep although any income they generate is unrestricted.
23
## **Notes to the financial statements For the year ended 31 December 2020**
||**7**|**Debtors**||||**2020**|2019|
|---|---|---|---|---|---|---|---|
|||||||**£**|£|
|||Income Tax Recoverable||||**1,520**|4,597|
|||Prepayments & accrued income||||**8,158**|19,644|
|||Other debtors||||**1,544**|3,161|
||||||**11,222**||27,402|
||**8**|**Creditors: amounts falling due within one**||**year**||**2020**|2019|
|||||||**£**|£|
|||Accruals||||**5,711**|7,949|
|||Other Creditors||||**2,756**|1,569|
|||||||**8,467 **|9,518|
|**9**|**Analysis of Net assets by fund**||||||**TOTAL**|
||||Unrestricted|Designated|Restricted|Endowment|**FUNDS**|
||||Funds|Funds|Funds|Funds|**2020**|
||||**£**||**£**|**£**|**£**|
||Investment Properties||-|-|-|
800,000|**800,000**|
||Fixed assets for church use||10,470|-|-|
-|**10,470**|
||current assets||141,408|73,766|28,317|
-|**243,491**|
||**At**|**31 December 2020**|**151,878**|**73,766**|**28,317**|
**800,000**|**1,053,961**|
||At|31 December 2019|154,372|58,666|22,277|
800,000|**1,035,315**|
24
## **Notes to the financial statements For the year ended 31 December 2020**
## **10 Statement of funds**
|**Unrestricted funds**
General fund
**Designated funds**
Roof repairs
**Restricted funds**
Mothers Day Daffs
Chairs
Compassion (UK)
Floating Shelter
Window Repair
Roof Repair
Christmas Grant
Deanery
Other
**Endowments**
Property
**Total funds**|**Balance**
**b/fwd**
**1st Jan 2020**
**Income**
**£**
**£**
169,372
116,849
-|**Expenditure**
**£**
(125,886)
-|**Gain on**
**Investment**
**Transfers Balance c/fwd**
**31st Dec 2020**
**£**
**£**
**£**
-
(13,829)
146,506|
|---|---|---|---|
||**169,372**
**116,849**|**(125,886)**|**-**
**(13,829)**
**146,506**|
||58,666
100
-
510
525
-
83
120
1,963
1,002
410
-
2,574
-
1,500
-
222
-
-
21,118|-
(30)
-
(387)
(41)
-
-
-
-|**-**
15,000**73,766**
-
-
**480**
-
-
**525**
-
184
**0**
-
(200)
**2,724**
-
-
**410**
-
-
**2,574**
-
-
**1,500**
-
-
**222**
(1,155)
**19,963**|
||7,277
2,750|(458)|-
(1,171)
**28,398**|
||800,000
-|-|-
-
800,000|
||**800,000**
**-**|**-**|**-**
**-**
**800,000**|
|||||
||**1,035,315**
**139,699**|**(126,344)**|**-**
**-**
**1,048,670**|
The restricted funds for the chairs comprise the donations and grants received to purchase the assets, which are released to the general fund over the useful life of the asset, in line with the charities depreciation policy.
Compassion (UK) - Members of our Young Church raise funds to support Maria who lives in Indonesia. The funds are sent through Compassion (UK) with the shortfall being met out of the general fund.
The floating shelter - set up to support the Croydon Churches Floating Shelter project for the homeless in the local area.
The roof repair fund consists of legacies received, that have been designated for replacement of the church roof. The window repair fund consists of donations and expenditure on necessary repair work to the church windows. The Endowment Fund comprises the two bungalows Numbers 1 & 3 Chichester Road, Croydon.
## **11 Other Financial Commitments**
|As at 31stDecember 2020 the PCC had annual financial commitments as set out below:|As at 31stDecember 2020 the PCC had annual financial commitments as set out below:|As at 31stDecember 2020 the PCC had annual financial commitments as set out below:|
|---|---|---|
||**2020**|2019|
|Equipment – Photocopier lease|**£**|£|
|Within less than one year|**15,648**|10,448|
|Between two and five years|**0**|0|
||**15,648**|10,448|
25
## **Notes to the financial statements For the year ended 31 December 2020**
## **12 Comparative Statement of Financial Activities Year Ended 31 December 2019 by fund type**
|**Income**
_Donations & Legacies_
_Oher trading activities_
_Income from_
_Investments_
_Church Activities_
**Total Income**
**Expenditure**
_Raising funds_
_Church Activities_
**Total Expenditure**
**Net Income/**
**(expenditure)**
Gains on Investment
assets
Gross Transfers between
Funds
**Net movement in funds**
Total funds brought
forward at 1stJanuary
2019
Total funds
carried forward at
31stDecember 2019|Unrestricted
Designated Restricted
Endowment
TOTAL
Funds
Funds
Funds
Funds
FUNDS
2019
£
£
£
£
£
94,962
2,100
281
-
97,343
17,287
-
-
-
17,287
30,126
-
-
-
30,126
36,456
-
-
-
36,456|
|---|---|
||178,831
2,100
281
-
181,212|
||1,721
-
-
-
1,721
150,814
-
1,447
-
152,261|
||152,535
-
1,447
-
153,982|
||26,296
-
(1,166)
-
27,230
41
-
-
-
41
(16,300)
-
(16,300)
-
-|
||(10,037)
-
15,134
-
27,271|
||161,436
41,566
5,042
800,000
1,008,044|
||171,473
41,566
20,176
800,000
1,035,315|
26
verdant
INDEPENDENT EXAMINER'S REPORT
Independent examiner's report lo The PCC of Si Matthew, Croydon (Charity no 11325081 on the
financial slatemenls of the charity for the year ended 31 December 2020, which comprise the
statement of Financial Activities. the Balance Sheet and the related notes 1-12
Responslbilitias and basis ol report
The charity's Iru51ees are responsible for the preparation of the accounts in accordance with the
Charities Act 2011 I'lhe Acl'l. The Charity's trustees consider that an audit is not required for th$ year
under seclion 144 of the Act and that an independent examination is needed.
11 15 my responsibility lo examine the accounts under section 145 of the Charities Act, follow the
applicable Directions given by the Charity Commis510n under section 14515llbl of the Act, and slate
whether particular matters have come lo my allenlion.
Independent examlnees statement
Where the charity's gross income exeded £250,000, l am qLtalified lo undertake the examination by
being a qualified Fellow of the Chartered Association of Certified Accountant5.
I have completed my examination. I confim that..
In connection wth my examination, no material matters have corne to my attention which give
me cause to believe that, in any material respect.
the accounting records were not kept in accordance with section 130 of the Chanlies
Act", or
the accounts did not accord with the accounting records". or
the accounts did not corllply with the applicable requirement5 COnrning the fomi and
content of the accounts sel out in the Charities (Accovnls and Report) Regulation
2008 other than any requirement that the accounts give a 'lrue and fail. view which is
not a maiter considered as part of an independent examination.
12)
I have no concems and have come across no other matters in connection with the
examination lo which attention should be drawn in this report in order lo enable a proper
uniyerslanding of the accounts to be reached.
Chaweevan Williams FCCA
Fellow of the Association of Chartered Certified Accountants
Verdant Accounlanls Limited
167 Clarence Avenue, New Malden, Surrey KT3 3TX
Dale.. 9 May 2021
27