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2021-12-31-accounts

The Parochial Church Council of the Ecclesiastical The Parish of St. Matthew, Croydon

Registered Charity No. 1132508

Annual Report and Unaudited

Financial Statements

of the

Parochial Church Council

For the year ended 31[st ] December 2021

The Parish Church of St. Matthew, Croydon

Legal and Administrative Details

For the year ended 31 st December 2021

Registered charity no. 113 2508
Principal address: St Matthew's Church of England Church & Hall
Chichester Road
Croydon
CR05NQ
Incumbent: The Reverend Simon Foster
The Vicarage
7 Brownlow Road
Croydon
CR0 5JT
Bankers: (Current & Deposit Accounts)
CAF Bank Ltd
25 Kings Hill Avenue
Kings Hill
West Mailing
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

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 2021. 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:

To facilitate this work it is important that we maintain the fabric of St Matthew's church complex and the two bungalows.

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 Simon Foster continued as Area Dean and Revd Linda Fox who is licenced to St Matthew's as Assistant Area Dean, also officiated at St George's Waddon during their interregnum from September 2020 until the end of May 2021.

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 creche 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 Taize 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 All Age Services on the second Sunday. However, due to the Coronavirus the church has followed Government and Church of England Guidance and access to the building has been very limited or non-existent. 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 one baptism, one marriage and six funerals in church and two funerals taken at the crematorium.

Membership and attendance

There were 113 members on the Electoral Roll on 31 [st ] December 2021. The average Sunday attendance is fifty five adults and six children under sixteen years of age. Additionally we have had up to fifty people joining online.

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 church.

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 Coronavirus 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 for which we need to raise £500,000 - 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 Coronavirus pandemic. The reserved sacrament is taken to communicants in local care homes. Regular parcels of food and toiletries collected at the church were sent to the West Croydon Refugee Day Centre. The church has also collected clothing for refugees living locally and supported West Croydon Baptist Church in this endeavour. In previous years we have been part of Croydon Churches Floating Shelter but this did not happen in 2021 due to Covid-19 - instead we joined Croydon's Nightwatch making sandwiches for homeless living on our streets - our thanks go to Jon Highton for coordinating this contribution.

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, now known as The Friends of the Province of Alexandria. Due to the pandemic we have not, this year been able to make 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

't

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.

Finance

In 2016 Southwark Diocese 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 as our income has substantially reduced. St Matthew's pledge for 2021 was gratefully received by the diocese after discussion with the Archdeacon.

Reserves Policy

At 31 Dec 2021 the PCC's reserves were: unrestricted reserves £119,801 (2020: - £146,506) designated fund £87,346 (2020:- £73,546) endowment fund £850,000 (2020 - £800,000); restricted fund £87,711 (2020 - £28,618). The PCC has free reserves, comprising unrestricted funds, less fixed assets of £112,876 (2020 - £136,036). 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 0.2% compared to the retail price index of 4.1 %.

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.

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 the Incumbent ( our Vicar), 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 73.6% and the Standing Committee m e t 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 Fundraising Team organizes a wide range of events with the aim of bringing fellowship and enjoyment to the community of St Matthew's whilst raising funds.

6

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.

During the year, the following served as members of the PCC:

Revd Simon Foster Revd Linda Fox Rohini Abhayaratne Abosede Akadiri Stephen Collingwood Laura Easton Dorothy Onyekwe (until May 2021) Terry Mitchell Jane Passfield Paul Parmenter (until Jan. 2022) James Reid Alison Radford Carolyn Tweed (until May 2021) Jane Smaldon David Williams OBE Jan Williams

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 4th May 2022

Revd Simon Foster Chairman of the PCC

and

Stephen Collingwood Churchwarden

7

INDEPENDENT EXAMINER'S REPORT

Independent examiner's report to The PCC of St Matthew, Croydon (Charity no 1132508) on the financial statements of the charity for the year ended 31 December 2021, which comprise the statement of F1nanc1al Act1v1tIes the Balance Sheet and the related notes 1-12.

Responsibilities and basis of report

Tl1e charity's trustees are responsible for the preparation of the accounts in accordance with the Charities Act 2011 ('the Act') The Charity's trustees consider that an audit is not required for this year under section 144 of the Act and that an independent examination is needed.

It Is my respons1b1lity to examine the accounts under section 145 of the Charities Act, follow the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act, and state whether particular matters have come to my attention.

Independent examiner's statement

Where the charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination by being a registered member of the Chartered Association of Certified Accountants which is one of the listed bodies.

I have completed my examination. I confirm that:

Chaweevan Williams FCCA

Date: 5th May 2022

Chartered Certified Accountant Verdant Accountants Limited 167 Clarence Avenue, New Malden, Surrey KT3 3TX

8

The Parish Church of St. Matthew, Croydon

Statement of Financial Activities

For the year ended 31st December 2021

UnrestrictedDesignated
RestrictedEndowment
Total
Total
Notes
Funds
Funds
Funds
Funds
Funds
Funds
2021
2020
£
£
£
£
£
£
Income from:
Donations and legacies
2a
75,235
54
75,289
78,502
Other trading activities
2b
1,568
1,568
1,336
Income from investments
2c
28,827
28,827
29,823
Charitable activities
2d
13,250
13,250
5,820
Other income
2e
51,568
51,568
24,218
Total income
118,880
0
51,622
0
170,502
139,699
Expenditure on:
Raising funds
3a
0
Charitable activities
3b
87,380
396
87,776
91,503
Other expenditure
3c
32,190
1,200
3,148
36,538
34,841
Total expenditure
119,570
1,200
3,544
0
124,314
126,344
Net incomel(expenditure)
(690)
(1,200)
48,078
46,188
13,355
Gains on investment assets
10
50,000
50,000
0
Gross Transfers between funds
10
(26,015)
15,000
11,015
0
0
(26,705)
13,800
59,093
96,188
13,355
146,506
73,546
28,618
800,0001,048,6701,035,315
Net movements in funds
Total funds brought forard at 1
January 2021
Total funds carried forward at
31December 2021
119,801
87,346
87,711
850,0001,144,8581,048,670		 UnrestrictedDesignated
RestrictedEndowment
Total
Total
Notes
Funds
Funds
Funds
Funds
Funds
Funds
2021
2020
£
£
£
£
£
£
Income from:
Donations and legacies
2a
75,235
54
75,289
78,502
Other trading activities
2b
1,568
1,568
1,336
Income from investments
2c
28,827
28,827
29,823
Charitable activities
2d
13,250
13,250
5,820
Other income
2e
51,568
51,568
24,218
Total income
118,880
0
51,622
0
170,502
139,699
Expenditure on:
Raising funds
3a
0
Charitable activities
3b
87,380
396
87,776
91,503
Other expenditure
3c
32,190
1,200
3,148
36,538
34,841
Total expenditure
119,570
1,200
3,544
0
124,314
126,344
Net incomel(expenditure)
(690)
(1,200)
48,078
46,188
13,355
Gains on investment assets
10
50,000
50,000
0
Gross Transfers between funds
10
(26,015)
15,000
11,015
0
0
(26,705)
13,800
59,093
96,188
13,355
146,506
73,546
28,618
800,0001,048,6701,035,315
Net movements in funds
Total funds brought forard at 1
January 2021
Total funds carried forward at
31December 2021
119,801
87,346
87,711
850,0001,144,8581,048,670		 UnrestrictedDesignated
RestrictedEndowment
Total
Total
Notes
Funds
Funds
Funds
Funds
Funds
Funds
2021
2020
£
£
£
£
£
£
Income from:
Donations and legacies
2a
75,235
54
75,289
78,502
Other trading activities
2b
1,568
1,568
1,336
Income from investments
2c
28,827
28,827
29,823
Charitable activities
2d
13,250
13,250
5,820
Other income
2e
51,568
51,568
24,218
Total income
118,880
0
51,622
0
170,502
139,699
Expenditure on:
Raising funds
3a
0
Charitable activities
3b
87,380
396
87,776
91,503
Other expenditure
3c
32,190
1,200
3,148
36,538
34,841
Total expenditure
119,570
1,200
3,544
0
124,314
126,344
Net incomel(expenditure)
(690)
(1,200)
48,078
46,188
13,355
Gains on investment assets
10
50,000
50,000
0
Gross Transfers between funds
10
(26,015)
15,000
11,015
0
0
(26,705)
13,800
59,093
96,188
13,355
146,506
73,546
28,618
800,0001,048,6701,035,315
Net movements in funds
Total funds brought forard at 1
January 2021
Total funds carried forward at
31December 2021
119,801
87,346
87,711
850,0001,144,8581,048,670		 UnrestrictedDesignated
RestrictedEndowment
Total
Total
Notes
Funds
Funds
Funds
Funds
Funds
Funds
2021
2020
£
£
£
£
£
£
Income from:
Donations and legacies
2a
75,235
54
75,289
78,502
Other trading activities
2b
1,568
1,568
1,336
Income from investments
2c
28,827
28,827
29,823
Charitable activities
2d
13,250
13,250
5,820
Other income
2e
51,568
51,568
24,218
Total income
118,880
0
51,622
0
170,502
139,699
Expenditure on:
Raising funds
3a
0
Charitable activities
3b
87,380
396
87,776
91,503
Other expenditure
3c
32,190
1,200
3,148
36,538
34,841
Total expenditure
119,570
1,200
3,544
0
124,314
126,344
Net incomel(expenditure)
(690)
(1,200)
48,078
46,188
13,355
Gains on investment assets
10
50,000
50,000
0
Gross Transfers between funds
10
(26,015)
15,000
11,015
0
0
(26,705)
13,800
59,093
96,188
13,355
146,506
73,546
28,618
800,0001,048,6701,035,315
Net movements in funds
Total funds brought forard at 1
January 2021
Total funds carried forward at
31December 2021
119,801
87,346
87,711
850,0001,144,8581,048,670
0
87,380
396
87,776
91,503
32,190
1,200
3,148
36,538
34,841
119,570
1,200
3,544
0
124,314
126,344
(690)
(1,200)
48,078
46,188
13,355
50,000
50,000
0
(26,015)
15,000
11,015
0
0
(26,705)
13,800
59,093
96,188
13,355
146,506
73,546
28,618
800,0001,048,6701,035,315
119,801
87,346
87,711
850,0001,144,8581,048,670

9

The Parish Church of St. Matthew, Croydon

Balance Sheet

As at 31[st ] December 2021

Fixed Assets
Tangible fixed assets
Investment propery
Total fixed assets
Current Assets
Debtors
Deposit account
Cash at bank and in hand
Total Current Assets
Current Liabilities
Creditors: amounts falling due within one year
Net current assets
Total Assets less Current Liabilities
Funds
Endowment funds
Restricted funds
Designated funds
Unrestricted funds
Total funds
Notes
5
6
7
8
10
10
10
10		 2021
£
6,925
850,000
856,925
17,611
196,928
82,926
297,465
9,532
287,933
1,144,858
850,000
87,711
87,346
119,801
1,144,858		 2020
£
10,470
800,000
810,470
11,222
148,888
86,557
246,667
8,467
238,200
1,048,670
800,000
28,618
73,546
146,506
1,048,670

Approved by the Parochial Church Council on 4th May 2022

and signed on its behalf by:

Revd Simon Foster - Chairman

Terry Mitchell - Treasurer

The accompanying notes form a part of these financial statements.

10

The Parish Church of St. Matthew, Croydon

Notes to the Financial Statements

For the year ended 31 st December 2021

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 unless permission is sought from donors to reallocate the 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 1s 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.

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.

11

The Parish Church of St. Matthew, Croydon

Notes to the Financial Statements (continued)

For the year ended 31 st December 2021

1 Accounting policies (continued)

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 £1,500 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 & machinery 10% straight line Fixtures, 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 uncollectable.

Short-term deposits include cash held on deposit either with the CBF Church of England Funds, or at the bank.

12

The Parish Church of St. Matthew, Croydon

Notes to the Financial Statements (continued)

For the year ended 31 st December 2021

2Income
2aDonations and legacies
0101 - Direct Giving (Gift Aid) 0102
- Free Will Ofering (Gift Aid) 0104 -
Gift Aid Envels (Services) 0111 -
Floating Shelter
0201 - Direct Giving (Non Gift Aid)
0202 - Free Will Ofering (Non Gift Aid)
0203 - Charity Vouchers
0301 - Services (Plate etc)
03011 - Services NOT GASDS
0302 - Good Plate
0305 - Compassion (UK)
0401 - Donations (Gift Aid)
0502 - Donations
0601 - Tax Recovered - (Gift Aid)
2bOther trding activities
0901 - Fund Raising
0902 - Cofee Mornings/Kitchen
0903 - 10 O'Clock Club
2cIncome from investments
1001 - Interest Received
1002 - Bungalow Rental No 1
1003 - Bungalow Rental No 3
2dCharitable activities
1101 - Fees - PCC
11011 - Fees - Organist etc 1202
- Hall Rentals
1203 - Parking
1204 - Magazine and Book
Sales 1206 - Printing Sales
1207 - Flowers
1208 - Sundry Income
1209 - BRF Notes
1212 - Messy Church
1224 - Mothers Day Dafs		 Total
Total
UnrestrictedDesignated
RestrictedEndowment
Funds
Funds
Funds
Funds
Funds
Funds
2021
2020
£
£
£
£
£
£
44,141
44,141
52,745
1,470
1,470
1,115
0
150
0
1,002
5,675
5,675
3,785
940
940
1,168
840
840
1,039
2,252
2,252
1,519
189
189
373
373
317
54
54
120
0
65
1,419
1,419
1,651
17,936
17,936
13,825
75,235
0
54
0
75,289
78,501
1,378
1,378
1063
190
190
203
0
70
1,568
0
0
0
1,568
1,336
40
40
338
13,622
13,622
14,142
15,165
15,165
15,344
28,827
0
0
0
28,827
29,824
355
355
166
220
220
57
11,059
11,059
2,834
420
420
239
16
16
171
700
700
734
380
380
549
0
469
100
100
85
0
6
0
510
13,250
0
0
0
13,250
5,820

13

The Parish Church of St. Matthew, Croydon

Notes to the Financial Statements (continued)

For the year ended 31 st December 2021

2Income (cont'd)
2eOther Income
1218 - Roof Restricted
1219 - Roof Designated
1220 - Deanery (support)
Total Income		 Total
Total
UnrestrictedDesignated
RestrictedEndowment
Funds
Funds
funds
funds
funds
Funds
2021
2020
£
£
£
£
£
£
51,068
51.068
21,118
0
3,100
500
500
0
0
51,568
0
51,568
24,218		 Total
Total
UnrestrictedDesignated
RestrictedEndowment
Funds
Funds
funds
funds
funds
Funds
2021
2020
£
£
£
£
£
£
51,068
51.068
21,118
0
3,100
500
500
0
0
51,568
0
51,568
24,218
118,880
0
51,622
0
170,502
139,699

Income received in 2020 totalling £22,750 was attributable to restricted funds. £100 Designated and No income was attributable to the endowment fund.

14

The Parish Church of St. Matthew, Croydon

Notes to the Financial Statements (continued)

For the year ended 31st December 2021

3Expenditure
3aRaising funds
Fund raising expenditure
3bChurchactivities
1801 - Christian Charities
1802 - Compassion (UK)
1901 - Parish Support Fund -
Diocese
2056 - Income Tax Due
2101 - Vicars Expenses
2104 - Curates Expenses
2105 - Reader's Expenses
2201 - Training Courses etc
2203 - Floating Shelter Expenses
2301 - Insurance - Church
2302 - Cleaning
2303 - Repairs & Maintenance
2304 - Choir & Music Expenses
23041 - Organ & Piano Tuning
2305 - Upkeep of Services
2306 - Upkeep of Services -Sacristy
2307 - Churchyard
2312 - Bungalow Fees No 1
2313 - Bungalow Repairs etc No 1
2314 - Bungalow Fees No 3
2315 - Bungalow Repairs etc No 3
2316 - Bungalow Insurance No 1
23161 - Bungalow Insurance No 3
2317 - Furniture & Equipment
2320 - Telephone - Parish Office
2321 - Flowers
2322 - Depreciation
2326 - Mothers Day Daffodils
2401 - Gas
24021 - Electricity HALL (28)
24022 • Electricity CHURCH (53)
2403 -Waste Collection
2404 -Water
2405 - Sanitary (PHS Group)		 UnrestrictedDesignated
funds
funds
£
£		 Total
Total
RestrictedEndowment
Funds
Funds
funds
Funds
2021
2020
£
£
£
£
0
0
0
0
25,333
550
3,094
2,448
15,051
470
431
97

443
1,484
2,640
1,712
3,061
836
330
330
2,419
350
434
3,545
2,344
1,132
814
1,421
731
227		 0
0
0
0
0
50
396
396
387
25,333
42,295
0
145
550
670
0
33
0
162
0
300
0
41
3,094
3,261
2,448
1,221
15,051
4,504
470
431
425
97
45
443
346
1,484
2,010
2,640
2,218
1,712
975
3,061
2,097
836
1,172
330
300
330
300
2,419
350
416
434
466
3,545
0
30
2,344
2,718
1,132
864
814
461
1,421
1,363
731
1,366
227
224

15

The Parish Church of St. Matthew, Croydon

Notes to the Financial Statements (continued)

For the year ended 31 st December 2021

3Expenditure (cont'd)
3bChurch activities (cont'd)
2502 - Print Costs
2503 - BRF Notes
2504 - Sundry Expenses
2505 - Cofee Morning - Kitchen
2506 - Hall Running Expenses
2508 - Chairs
3cOther Expenditure
1702 - Fundraising Expenses
2001 - Administrators Salary -Net
2003 - Organist
2055 - Income Tax
2059 - Administrators Salary -
Gross
2060 - Administrators Pension
2061 - Employers Pension
Contribution
21011 - Vicar's Discretionary
2202 - Church Societies
2311 - Communications
2319 - Administration Expenditure
2323 - Willow Residential (Curates
Rent)
2324 - Council Tax (Curate)
2325 - Water Rate (Curate)
2510 - Roof Restricted
2511 - Roof Designated
2601 - Independent Examiner
2602 - Bank Charges (all Accounts)
2903 - Deanery		 Total
Total
UnrestrictedDesignated
RestrictedEndowment
Funds
Funds
funds
funds
funds
Funds
2021
2020
£
£
£
£
£
£
14,328
14,328
16,515
109
109
127
1,016
1,016
401
0
50
200
200
0
3,545
87,380
0
396
0
87,776
91,503		 Total
Total
UnrestrictedDesignated
RestrictedEndowment
Funds
Funds
funds
funds
funds
Funds
2021
2020
£
£
£
£
£
£
14,328
14,328
16,515
109
109
127
1,016
1,016
401
0
50
200
200
0
3,545
87,380
0
396
0
87,776
91,503
87,380
0
396
0
87,776
91,503
145
145
330
6,559
6,559
6,920
3,000
3,000
2,324
649
649
1,585
1,816
1,816
600
600
128
128
70
70
0
107
45
45
2,755
2,755
1,210
13,800
13,800
19,200
1,506
1,506
2,160
368
368
295
3,060
3,060
1,200
1,200
650
650
650
99
99
60
88
88
32,190
1,200
3,148
0
36,538
34,841
119,570
1,200
3,544
0
124,314
126,344

Expenditure in 2020 totalling £458 was attributable to restricted funds. No expenditure was attributable to the endowment fund

16

The Parish Church of St. Matthew, Croydon

Notes to the Financial Statements (continued)

For the year ended 31 st December 2021

4 Staff Costs 2021 2020
£ £
4a Wages and salaries 12,101 10,828

4a Wages and salaries

During the year the PCC employed on organist and a cleaner, both part time. The PCC also employed a Parish Administrator. None of the salaries attracted employers national insurance contributions.

4b Payments to PCC members

The Parish Administrator, who was employed and paid a salary, is also a Trustee. The appointment was agreed by the Charity Commissioners. No other trustee received any form of remuneration.

5 Tangible fixed assets
Tangible fixed assets
Plant &
Machinery
Cost
£
At 1 January 2021
29,036
Addition
At 31 December 2021
29,036
Depreciation
At 1 January 2021
29,036
Charge for the year
At 31 December 2021
29,036
Net book value
At 31 December 2021
0
At 31 December 2020
0		 Fixtures,
Fittings &
equipment
£
172,103
172,103
161,633
3,545
165,178
6,925
10,470		 Total
£
201,139
201,139
190,669
3,545
194,214
6,925
10,470

17

The Parish Church of St. Matthew, Croydon

Notes to the Financial Statements (continued)

For the year ended 31 st December 2021

6 Investments Investments
Property
Cost £
At 1 January 2021 800,000
Add Gain on investment - increase in valuation 50,000
At 31 December 2021 850,000
Net book value
At 31 December 2021 850,000
At 31 December 2020 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 in 2021 , who are managing agents of the bungalows therefore know their condition and rental yield .. 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.

7 Debtors
Income tax recoverable
Prepayments and accrued income
Other debtors
8 Creditors: amounts falling due within one year
Accruals
Other creditors		 2021
£
4,808
7,416
5,387
17,611
2021
£
6,383
3,149		 2020
£
1,520
8,158
1,544
11,222
2020
£
5,711
2,756
8,467
9,532
9Analysis of Net assets by fund
Investment properties
Fixed assets for church use
Net current assets
At 31 December 2021
At 31 December 2020		 Unrestricted
Funds
£
6,925
112,876
119,801
Designated
Restricted
Funds
Funds
£
£
87,346
87,711
87,346
87,711
Endowment
Total
Funds
2020
£
£
850,000
850,000
6,925
287,933
850,000
1,144,858
146,506
73,546
28,618
800,000
1,048,670

18

The Parish Church of St. Matthew, Croydon

Notes to the Financial Statements (continued)

For the year ended 31 st December 2021

10 Statement of funds

Statement of funds
Balance Balance
b/fwd Gainon c/fwd
1 Jan2020 Income Expenditure Investment Transfers 31 Dec2020
Unrestricted funds £ £ £ £ £ £
General fund 146,506 118,880 (119,570) 0 1,500 147,316
Other income (27,515) (27,515)
146,506 118,880 (119,570) 0 (26,015) 119,801
Designated funds
roof repairs 73,546 0 (1,200) 0 15,000 87,346
73,546 0 (1,200) 0 15,000 87,346
Restricted funds
Mothers Day Dafodils 480 480
Floating Shelter 2,724 2,724
Roof repair 23,692 51,068 (3,060 12,173 83,873
Christmas 1,500 (1,500) 0
Deanery 222 500 (88) 634
Compassion (UK) 54 (396) 342 0
28,618 51,622 (3,544) 0 11,015 87,711
800,000 50,000 850,000
800,000 50,000 850,000
EndowmentProperty 1,048,670 170,502 (124,314) 0 0 1,144,858

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.

Total Funds

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 any necessary repair work to maintain the Church's roof.

The endowment fund comprises the two bungalows Numbers 1 & 3 Chichester Road, Croydon. Both bungalows have been revalued at £425,000 each by Stirling Ackroyd in February 2022.

19

The Parish Church of St. Matthew, Croydon

Notes to the Financial Statements (continued)

For the year ended 31 st December 2021

11 Other Financial Commitments

As at 31 December 2021 the PCC had total financial commitments as set out below: 2021 2020
£ £
Equipment - Photocopier lease
Within less than one year 15,648 15,648
Between 2 and 5 years 0 0
15,648 15,648

12 Comparative Statement of Financial Activities Year Ended

31 December 2020 analysed by fund type.

12Comparative Statement of Financial Activitie
31 December 2020 analysed by fund type.		 s Year Ended
Total
Unrestricted Designated Restricted Endowment Funds
Funds Funds Funds Funds 2020
£ £ £ £ £
Income from:
Donations and legacies 55,652 100 22,750 78,502
Other trading activities 1,336 1,336
Income from investments 29,823 29,823
Charitable activities 5,820 5,820
Other income 24,218 24,218
Total income 116,849 100 22,750 0 139,699
Expenditure on:
Raising funds 91,503 91,503
Charitable activities 34,383 458 34,841
Other expenditure 0
Total expenditure 125,886 0 458 0 126,344
Net income/(expenditure) (9,037) 100 22,292 13,355
Gains on investment assets 0 0
Gross Transfers between funds (13,829) 15000 (1,171) 0
Gross Transfers between funds (220) 220 0
Net movements in funds (22,866) 14,880 21,341 0 13,355
Total funds brought forward at 1 January 2020 169,372 58,666 7,277 800,000 1,035,315
Total funds carried forward at 31 December 2020 146,506 73,546 28,618 800,000 1,048,670

20