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2022-12-31-accounts

The Parochial Church Council of the Ecclesia s tical The Parish of St Matthew, Croydon Registered Charity No.1132508

Annual Report and Unaudited

Financial Statements

ofthe

Parochial Church Council

For the year ended 3 I[st ] December 2022

The Parish Church of St. Matthew, Croydon

Legal and Administrative Details

For the year ended 31 st December 2022

Registered charity no. 1132S08
Principal address: St Matthew's Church of England Church & Hall
Chichester Road
Croydon
CROSNQ
Incumbent: The Reverend Simon Fester (Retird 3 I st August 2022)
The Vicarage
7 Brownlow Road
Croydon
CRO SJT
Bankers: (Current & Deposit Accounts)
CAF Bank Ltd
2S Kings Hill Avenue
Kings Hill
West Mailing
Kent, ME 19 4JQ
(Deposit Account)
CCLA Investment Management Ltd
The CBF Church of England Funds
Senator House
8S Queen Victoria Street
London, EC4V 4ET
Independent examiner: Chaweevan Williams FCCA
Verdant Accountants Limited
167 Clarence Avenue
New Malden
Surrey KTJ 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 2022. The financial statements have been prepared in accordance with the accounting policies set out in note I to the accounts and comply with the charity's trust deed, the Charities Act 20 I I and Accounting and Reporting by Charities: Statement of Recommended Practice (FRS I 02) 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. However, he retired on 31 August 2022 and his last service at St Matthew's was on 24 July 2022. We have been blessed with twelve years of Simon's ministry with us and with the local schools - he will be remembered for his caring nature, good humour and more recently for his online services from the vicarage garden and our 50 [th ] year of the building celebrations. We wish him a long and well-earnt retirement. Since August the Revd Linda Fox, who is licenced to St Matthew's as Assistant Priest and Assistant Area Dean, has taken the spiritual lead supported by a number of clergy including Revd Barbara Gentilella of St Mary the Blessed Virgin, Addington.

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 I 0:00 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 of the month. After the Coronavirus limited access to the building in the previous years we were able to return to our previous style of worship. Worship has continued to also be available 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, one marriage and one funeral in church and two funerals taken at the crematorium.

Membership and attendance

There were I 15 members on the Electoral Roll on 31 st December 2022. The average Sunday attendance fifty five adults and five children under sixteen years of age. Additionally to this 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. 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 but have now almost got back to pre-epidemic levels. A special mention needs to be given to our Parish Administrator, Penny Goswell, who acts as a focus for all visitors, those wishing to hire the spaces and those coming to carry our maintenance. She goes far beyond her official duties and is a wonderful ambassador for our church.

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 but then returning face to face - numbers have fallen and in late 2022 we reduced the mornings to fortnightly rather than weekly. 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 or 2022 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.

50[th ] Anniversary

2022 marked 50 years since the church buildings in Chichester Road were consecrated. We had a small team that set up a number of events to mark this. The year started with a walk around the parish boundary followed by a tree planting by Bishop Jonathan to replace two that had died. Jane Passfield arranged a music week in April which was very successful. We held a street party in our car park at the time of the Queen's Platinum Jubilee and had a visit by Bishop Nick Baines - a former Bishop of Croydon and now Bishop of Leeds.

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. However, some individual members still give support. 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, Edith Chiwuzie 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 - He also has taken over as Lay PCC Chairman and Christine Cooney has acted as minute secretary. Steve Tucker has continued as Magazine Editor for most of the year and is a member of the Communications Team. Jon Highton has been instrumental in his production of online services during the pandemic and this has now become a permanent part of our worship.

Interregnum

After Revd Simon Foster's retirement the two churchwardens. Stephen Collingwood and Edith Chiwuzie stepped in to manage the situation. We created the Interregnum Task Team , chaired by David Williams, who is also the Lay PCC Chairman. This group created the documents necessary for the selection of a new incumbent and interfaced with the Bishop of Croydon and the Archdeacon. We look forward to welcoming our new incumbent in 2023.

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 2022 was gratefully received by the diocese after discussion with the Archdeacon.

Reserves Policy

At 31 Dec 2022 the PCC's reserves were: unrestricted reserves

£ 123,259 (2021: £ 119,80 I) designated fund £85,928 (2021: £87,346) endowment fund £850,000 (2021 £850,000); restricted fund £86,681 (2021 £87,71 I). The PCC has free reserves, comprising unrestricted funds, less fixed assets of £ I 19,879 (2021 - £ I 12,876). 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. However, we had a problem with one of the bungalows during the year and lost 5 months worth of rental income whilst refurbishment took place.

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 I 0 times during the year, with an average attendance of 70.3% and the Standing Committee met 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 T earn to consider matters related to replacing the church roof.

The Pastoral T earn, whose objectives include hospitality, visiting the sick and bereaved and arranging events for the elderly and housebound.

The Social and Fund raising T earn organizes a wide range of events with the aim of bringing fellowship and enjoyment to the community of St Matthew's whilst raising funds. This spawned the 50[th ] Anniversary Team which oversaw events celebrating 50[th ] years that we have been in the current building

The Communications T earn handles publicity and communications with the community and more widely through our website www.stmatthew.org.uk

The Young Church leaders Team handles worship for the young of the parish. All these teams report regularly to the PCC

The New Incumbent Task Team set up towards the end of the year to manage the task of finding a new Vicar for St Matthew's.

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 memben; of the PCC:

Revd Simon Foster (until 31 /08/22) Revd Linda Fox
Rohini Abhayaratne Abosede Akadiri
Edith Chiwuzie Stephen Collingwood
Christine Cooney Laura Easton
Andrew Hutton Terry Mitchell
Paul Parmenter (until Jan. 2022) Jane Passfield
Alison Radford James Reid
Jane Smaldon Carolyn Tweed (from November 2022)
Jan Williams David Williams OBE

Thankyou

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 I [8][th] April 2023.

David Williams Lay Chairman of the PCC

and

Stephen Collingwood Churchwarden

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 2022, which comprise the statement of Financial Activities, the Balance Sheet and the related notes 1-12.

Responsibilities and basis of report

The 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 responsibility to examine the accounts under secrlon 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: 24[th ] April 2023

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

The Parish Church of St. Matthew, Croydon

Statement of Financial Activities

For the year ended 31 st December 2022

Unrestricted Designated Restricted Endowment
Total
Total
Notes Funds Funds Funds Funds
Funds
Funds
2021
2021
£ £ £
£
£
£
Income from:
Donations and legacies 2a 61,667 88 61,755 75,289
Other trading activities 2b 5,204 5,204 1,568
Income from investments 2c 26,222 26,222 28,827
Charitable activities 2d 59,289 237 59,526 13,250
Other income 2e 380 5,881 6,261 51,568
Total income 152,762 • 6,206 158,968 170,502
Expenditure on:
Raising funds 3a
Charitable activities 3b 123,257 302 123,559 87,776
Other expenditure 3c 25,939 1,418 7,042 34,399 36,538
Total expenditure 149,196 1,418 7,344 157,958 124,314
Net incomel(expenditure) 3,566 (1,418) (1,138) 1,010 46,188
Gains on investment assets 10 50,000
Gross Transfers between funds 10 (108) 108
Net movements in funds 3,458 (1,418) (1,030) 1,010 96,188
Total funds brought forard_at_1
January 2022 119,801 87,346 87,711 850,000 1,144,858 1,048,670
Total funds carried forward at 31
December 2022 123,259 85,928 86,681 850,000 1,145,868 1,144,858

The Parish Church of St. Matthew, Croydon

Notes to the Financial Statements

For the year ended 31 st December 2022

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 I 02) ( effective I 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.

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.

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.

The Parish Church of St. Matthew, Croydon

Notes to the Financial Statements (continued)

For the year ended 31st December 2022

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 3 I 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 20 I I . 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 £ I ,SOO 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 I 0% straight line Fixtures, fittings and equipment I 0% 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 3 I 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.

The Parish Church of St. Matthew, Croydon

Balance Sheet

As at 3 I " December 2022

2022 2021
Notes £ £
Fixed Assets
Tangible fixed assets 5 3,380 6,925
Investment propert 6 850,000 850,000
Total fxed assets 853,380 856,925
Current Assets
Debtors 7 17,146 17,611
Deposit account 200,569 196,928
Cash at bank and in hand 88,100 82,926
Total Current Assets 305,81 S 297,465
Current Liabilities
Creditors: amounts falling due within one year 8 13,327 9,532
Net current assets 292,488 287,933
Total Assets less Current Liabilities 1,145,868 1.144,858
Funds
Endowment funds 10 850,000 850,000
Restricted funds 10 86,681 87,711
Designated funds 10 85,928 87,346
Unrestricted funds 10 123,259 119,801
Tota/funds 1,145,868 1,144,858

Approved by the Parochial Church Council on 18th April 2023 and signed on its behalf by:

David Williams - Lay Chairman

Terry Mitchell - Treasurer

The accompanying notes form a part of these financial statements.

The Parish Church of St. Matthew, Croydon

Notes to the Fina ncial Statements (continued)

~~for the year ended 31 st December 2022~~

Totl Total
2 Income Unrestricted Designated Restricted Endowment Funds Funds
Funds Funds Funds
Funds		 2022 2021
£ £ £ £ £ £
2a Donations and legacies
0101 - Direct Giving (Gift Aid) 34423 34,423 44,141
0102 - Free Will Ofering (Gift Aid) 820 820 1,470
0104 - Gift Aid Envels (Services) 60 60
0111 - Floating Shelter
0201 - Direct Giving (Non Gift Aid) 7418 7,418 5,675
0202 - Free Will Ofering (Non Gif Aid) 1285 1,285 940
0203 - Charity Vouchers 690 690 840
0301 - Services (Plate etc) 2654 2,654 2,252
03011 - Services NOT GASDS 180 180 189
0302 - Good Plate 787 787 373
0305 - Compassion (UK) 88 88 54
0401 - Donations (Gift Aid) 2080 2,080
0502 - Donations 618 618 1,419
0601 - Tax Recovered - (Gif Aid) 10,652 10,652 17,936
61,667 8 8 61,755 75,289
2b Other trading actiities
0901 - Fund Raising 4328 4,328 1378
0902 - Cofee Mornings/Kitchen 876 876 190
0903 - 10 O'Clock Club
5,204 5,204 1,568
2c Income from investment
1001 - Interest Received 1484 1,484 40
1002 - Bungalow Rental No 1 8864 8,86 13,622
1003 - Bungalow Rental No 3 15,874 15,874 15,165
26,222 26,222 28,827
2d Charitable activiies
1101 - Fees - PCC 585 585 355
11011- Fees- Vicar (Funeral Expenses) 29 29 220
11012 - Fees - Organist
1202 - Hall Rentals 55688 55,688 11,059
1203 - Parking 960 960 420
1204 - Magazine and Book Sales 349 39 16
1206 - Printing Sales 50 50 700
1207 - Flowers 20 20 380
1208 - Sundry Income 1535 1,535
1209- BRF Notes 73 73 100
1225 - Easter Flowers 237 237
59,289 237 59,526 13,250

The Parish Church of St. Matthew, Croydon

Notes to the Financial Statements (continued)

for the year ended 31 st December 2022

Total Total
2 Income (cont'd) Unrestricted Designated Restricted Endowment Funds Funds
funds funds funds Funds 2022 2021
£ £ £ £ £ £
2e Other Income
1215 - Adjustments 380 380
1218- Roof Restriced 4,981 4,981 51,068
1219- Roof Designated
1220- Deanery (suppor) 500
1327 - Vicar's Retirement Gif 900 900
380 5,881 6,261 51,568
Total Income 152,763 6,206 158,969 170,502

Income received in 2021 totalling £51,622 was attributable to restricted funds. No income was attributable to the designated and endowment funds.

The Parish Church of St. Matthew, Croydon

Notes to the Financial Statements (continued)

For the year ended 31 st December 2022

Total Total
3 Expenditure Unrestricted Designated Restricted Endowment Funds Funds
funds funds funds Funds 2022 2021
£ £ £ £ £ £
3a Raising funds
Fund raising expenditure
3b Church activities
1801 - Christian Charities
1802 - Compassion (UK) 88 88 39
1901 - Parish Support Fund - Dios 44,000 4,000 25,333
2004- Relief Administrators Salary 172 172
2056- Income Tax Due
2101 - Vicars Expenses 582 582 550
2102 - Visiting Clergy 41 41
2104- Curates Expenses 160 160
2203 - Floating Shelter Expenses 57 57
2301 - Insurance - Church 3,214 3,214 3,094
2302 - Cleaning 1,550 1,550 2,448
2303 - Repairs & Maintenance 15,435 15,435 15,050
2304- Choir & Music Expenses 51 51 470
23041 - Organ & Piano Tuning 1,088 1,088 431
2305 - Upkeep of Services 327 327 97
2306 - Upkeep of Services -Sacristy 60 606 443
2307 -Churchyard 1,373 1,373 1,484
2312- Bungalow Fees No 1 3,821 3,821 2,640
2313- Bungalow Repairs etc No 1 17,187 17,187 1,712
2314 - Bungalow Fees No 3 2,390 2,390 3,062
2315- Bungalow Repairs etc No 3 1,985 1,985 836
2316- Bungalow Insurance No 1 403 403 330
23161 - Bungalow Insurance No 3 352 352 330
2317 - Furniture & Equipment 75 75 2,419
2318-Fees- Vicar (Funeral Exp) 29 29
2320 - Telephone - Parish Office 444 4 350
2321 - Flowers 0 43
2322 - Depreciation 3,55 3,545 3,545
2326 - Mothers Day Daffodils 20 20
2327 - Easter Flowers 137 137
2401 - Gas 4,822 4,822 2,344
24021 - Electricity HALL (28) 1,713 1,713 1,132
24022 - Electricity CHURCH (53) 500 500 814
2403 - Waste Collecion 1,532 1,532 1,421
2404- Water 943 943 731
2405 - Sanitary (PHS Group) 229 229 227

The Parish Church of St. Matthew, Croydon

Notes to the Financial Statements (continued)

For the year ended 31 st December 2022

Total Total
3 Expenditure (cont'd) Unrestricted Designated Restricted Endowment Funds Funds
funds funds funds Funds 2022 2021
£ £ £ £ £ £
3b Church activities (cont'd)
2502 - Print Costs 14125 14,125 14,328
2503- BRF Notes 87 87 109
2504 - Sundry Expenses 422 422 1,016
2505 - Coffee Morning - Kitchen 4 4
2506 - Hall Running Expenses 50 50 200
123,257 302 123,559 87,776
3c Other Ependiture
1702 - Fundraising Expnses 3333 3,333 145
2001 - Administrators Salary -Net 8119 8,119 6,559
2002 - Cleaners Wages 3305 3,305
2003 - Organist Wages 3848 3,848 3,000
2055- Income Tax 187 187 69
2059 - Administrators Salary Gross 1,816
2060 - Administrators Pension 1100 1,100 600
2061 - Employers Pension Contribution 370 370 128
21011 - Vicar's Discretionar 70
21031- Council Tax No 1 1645 1,645
2202- Church Societies 195 195
2311 - Communications 1054 1,054 45
2319 - Administration Expenditure 1769 1,769 2,755
2323 - Willow Residential (Curates rent) 13,800
2324 - Council Tax (Curate) 1,506
2325 - Water Rate (Curate) 154 154 368
2328 - Vicar's Retirement Gift 1,008 1,008
2510 - Roof Restricted 5,400 5,400 3,060
2511 - Roof Designated 1,418 1,418 1,200
2601 - Independent Examiner 760 760 650
2602 - Bank Charges (all accounts) 100 100 99
2903 - Deanery 634 634 88
25,939 1,418 7,042 34,399 36,538
149,196 1,148 7,344 157,958 124,314

The Parish Church of St. Matthew, Croydon

Notes to the Financial Statements (continued)

For the year ended 31 st December 2022

4 Staff Costs 2022 2021
£ £
4a Wages and salaries 16,929 12,101

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.

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 Plant & Fixtures, Total
Machiner Fittings&
equipment
Cost £ £ £
At 1 January 2022 29,036 172,103 201,139
Addition
At 31 December 2022 29,036 172,103 201,139
Depreciation
At 1 Januar 2022 29,036 165,178 194,214
Charge for the year 3,545 3,545
At 31 December 2022 29,036 168,723 197,759
Net book value
At 31 December 2022 3,380 3,380
At 31 December 2021 6,925 6,925

The Parish Church of St. Matthew, Croydon

Notes to the Financial Statements (continued)

For the year ended 31st December 2022

6
Investments
Cost
At I January 2022
Add Gain on investment - increase in valuation
At 31 December 2022
Net book value
At 31 December 2022
At 3 I December 2021		 Investments
Proper
£
850,000
0
850,000
850,000
850,000

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 2017 , 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
8
9
Debtors
Income tax recoverable
Prepayments and accrued income
Other debtors
Creditors: amounts falling due within
Accruals
Other creditors
Analysis of Net assets by fund
Investment properties
Fixed assets for church use
Net current assets
At 3 I December 2021
At 3 I December 2021		 one year
Unrestricted
Designated
Restricted
Funds
Funds
Funds
£
£
£
3,380
119,879
85,928
86,681		 2022
£
2882
586
84
17,146
2022
£
8511
4,816
13,327
Endowment
Funds
£
850,000		 2021
£
4,808
7,416
5,387
17,611
2021
£
6,383
3,149
9,532
Total
2020
£
850,000
3,380
292,488
123,259
85,928
86,681		 850,000 1,145,868
119,801
87,346
87,711		 850,000 1,144,858

The Parish Church of St. Matthew, Croydon

Notes to the Financial Statements (continued)

For the year ended 31 st December 2022

1 0 Statement of funds

Statement of funds
Balance Balance
b/fd Gain on c/fd
I Jan 2022 Income Expenditure Investment Transfer 31 Dec 2022
Unrestricted funds £ £ £ £ £ £
General fnd 119,801 152,762 (149,196) (108) 123,259
Other income
119,801 152,762 (149,196) (108) 123,259
Designated funds
Roof repairs 87,346 (1,418)· 85,928
87,346 (1,418) 85,928
Restricted funds
Mothers Day Daffodils 480 (20)
Floating Shelter 2,724 (57) 2,667
Roof repair 83,873 4,981 (5,400) 83,454
Easter Flowers 237 (137) 100
Deanery 634 (634)
Vicar's Retirement Gift 900 (1,008) 108
Compassion (UK) 88 (88)
87,711 6,206 (7,344) 108 86,681
Endowment
Propery 850,000 850,000
850,000 850,000
Total Funds 1,144,858 158,968 (157,958) 1,145,868

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 lo 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 December 2022.

The Parish Church of St. Matthew, Croydon

Notes to the Financial Statements (continued)

For the year ended 31 st December 2022

11 Other Financial Commitments

As at 31 December 2022 the PCC had total financial commitments as set out below: 2022 2021
£ £
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 2021 analysed by fund type.

Income from:
Donations and legacies
Other trading activities
Income from investments
Charitable activities
Other Income
Total income
Expenditureon:
Raising funds
Charitable activities
Other expenditure
Total expenditure
Net income/(expenditure)
Gains on investment assets
Gross Transfers between funds
Net movements in funds
Total funds brought forward at 1 January 2021
Total funds carried forward at 31 December 2021		 Unrestrictd Designated
Restricted Endowment
Funds
£
75,235
1,568
28,827
13,250
118,880
87,380
32,190
119,570
(690)
26,015)
(26,705)
146,506
119,801
Funds
£
1,200
1,200
(1,200)
15,000
13,800
73,546
87,36
Funds
£
54
51,58
51,622
39
3,148
3,544
48,078
11,015
59,093
28,618
87,711
Funds
£
50,000
50,000
800,000
800,000
Totl
Funds
2021
£
75,289
1,568
28,827
13,520
51,568
170,502
87,776
36,538
124,314
46,188
50,000
96,188
1,048,670
1,144,858