Annual Report & Financial Statements of the Parochial Church Council of St Anne’s Church, Soho 2020 PRESENTED 16TH MAY 2021 ## **FULL PAROCHIAL NAME** St Anne with St Thomas and St Peter, Soho in the Diocese of London Registered Charity No. 1132589. ## **ADDRESS** St Anne’s Church 55 Dean Street London W1D 6AF 020 7437 8039 www.stannes-soho.org.uk info@stannes-soho.org.uk ## **LEGAL ADVISOR** Diocesan Registrar The Old Deanery Deans Court London EC4V 5AA ## **DIOCESE OF LONDON** London Diocesan House 36 Causton Street London SW1P 4AU 020 7932 1100 ## **SOLICITORS** Winckworth Sherwood The Old Deanery Deans Court London EC4V 5AA ## **INVESTMENT MANAGERS** CCLA Investment Management Ltd 80 Cheapside London EC2V 6DZ ## **INDEPENDENT EXAMINER** Julie Burford FCCA 182 Park View Road Welling Kent DA16 1[ST] ## **PARISH RECORDS AND ARCHIVES** The records are deposited in the Westminster City Council Archives: City of Westminster Archives Centre, 10 St Ann's Street, London SW1P 2DE 020 7641 5180 archives@westminster.gov.uk The Soho Collection for St Anne’s includes: - Vestry Minutes 1685-1903 - • Parish Registers 1686-1940 • Churchwardens Accounts 1687-1875 • Poor Relief, Workhouse etc. 1686-1900 ## **BANK** CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ 2 ||CONTENTS|| |---|---|---| |`o`|OFFICERS OF THE CHURCH|4| |`o`|RECTORS REPORT|5-6| |`o`|CHURCH WARDEN’S REPORT|7| |`o`|REPORT ON ACTIVITIES OF THE PCC|8| |`o`|ELECTORAL ROLL|8| |`o`|SAFEGUARDING REPORT|9| |`o`|DEANERY SYNOD REPORT|9| |`o`|TREASURERS FINANCIAL REPORT|10-14| |`o`|INDEPENDENT EXAMINER’S REPORT|15| |`o`|STATEMENT OF FINANCIAL ACTIVITIES|16-21| ||& BALANCE SHEET|| |`o`|SUPPORTING ST ANNE’S|23-24| 3 ## **CHAIR OF THE PCC** REVD SIMON BUCKLEY ## **PCC SECRETARY** SUZANNE BAKER-DOWNES (until October 2020) JAKE LEE (since October 2020) ## **EX OFFICIO MEMBERS OF THE PCC** REVD CANON DR KEITH RIGLIN - Assistant Priest TREVOR LANGFORD-READ - Treasurer MARK GODFREY - Church Warden JOHN WITTS - Church Warden ANDREW MACKAY - Deanery Synod Representative ## **ELECTED MEMBERS OF THE PCC** SUZANNE BAKER-DOWNES (elected 2018) COLIN MCNEILL (elected 2018) JAMES WARDLAW (elected 2018) LESLIE HUDMAN (elected 2019) PETER HARRIS (elected 2019) HEIDI ZAMZOW (elected 2020) PHILLIP BALDWIN (elected 2020) LUCY HAINE (elected 2020) MARCELO PESCI (elected 2020) 4 Rector’s Report The last twelve months have been as unusual for St Anne’s as they have been for any other organisation or individual. So much of our life here revolves around bringing people together that both practically and psychologically maintaining social distancing didn’t come naturally. Additionally, we faced an alarming drop in income with room-hires stopping and our tenants needing financial support. We had just finished some considerable outlay in upgrading facilities in the Allen Room and then had no opportunity to use them. But rather than dwell on the challenges in this report I simply want to highlight some of our achievements in the last twelve months. As even when the building was closed for worship, ministry from here never stopped. The worship of God and service to this community continued- albeit in different ways. - We went from hosting 4 Twelve-Step meetings a week to 24! Involving considerable logistical ingenuity to become a COVID-Secure venue, and temporarily reclaiming part of the Centrepoint property, we have made a significant contribution to people’s mental health and wellbeing. - We assisted the school in opening in the Autumn by giving them free daily use of the Community Hall. - We supported the two charities based here with generous rent breaks. - We devised a form of prayer each week to be used at home, emailing, posting and even hand-delivering these to all on our Congregational list. - We invested in new equipment and learned to livestream services which have reached people who would otherwise not be able to attend St Anne’s. - We created a Prayer Diary, with names of people, streets and aspects of Soho life to hold in prayer each day of the month. - We learned to hold activities and meetings via Zoom, connecting people spiritually and socially; and mailed out newsletters beyond the church congregation to keep people connected. - We were creative with our Lent video, Holy Week bookmarks and Soho Book of Psalms project; we sent Christmas parcels to Thursday Lunch diners, made numerous online assemblies for school, and reimagined Christmas services so as to operate safely. - We financially supported musicians, by employing them to enhance our worship. 5 All this activity (of which the above is just part) has led to a deepening of relationships in many ways, and also some generous donations and increased giving by members of our immediate and extended church family. To all who have supported us, I extend sincere thanks. A highlight of the year has been to welcome Paul Gurnham as the first full time curate at St Anne’s in over thirty years. His stipend is paid from our funds, but only made possible through an exceptionally generous donation from within the congregation for his three years with us. Though here largely for training he has also proved himself an invaluable asset to St Anne’s and companion in ministry to me during this challenging time. I do want to thank everyone who has ‘stayed with us’ through this time, but especially Jake, Trevor, Mark, John and Frs Paul and Keith for their unwavering and cheerful support, advice and expertise. God bless you all. Fr Simon 6 Church Wardens Report 2020 has been a challenging year due to the COVID-19 pandemic. Therefore we present our Churchwardens report. ## **Chattels** As Churchwardens we are the official and legal guardians of the chattels and silver of St Anne’s. We had made the following changes: - Wall Mounted Aumbry Frontal depicting ‘Pelican in her Piety’ bronze frontal by Thomas Duttenhoefer, Darmstadt, Germany. - 80 stacking Banqueting chairs which were kindly donated to us by Westminster City Council with money from the Ward budget. ## **Building Structure** Although the buildings are wearing well there is always ongoing work. However, with careful management of our resources we have managed to set aside enough to cover costs of essentials repairs and valuable improvements whilst keeping our eye on future expenditure. - New look kitchen area by the Allen Room. - Renewing of the metal gates leading to St Anne’s Gardens. - Brand new fire alarm system. ## **Property Assets** We can confirm that all our properties are currently let to long term tenants and in addition the Church continues to let out its other useable spaces to local groups and businesses. No property was gained or disposed of in 2020. Both Churchwardens are extremely grateful to: - Jake Lee, our Operations Manager, who has been outstanding in supporting the Churchwardens in managing/maintaining all aspects of the property and assets here at St Anne’s. - João Rocha, our Maintenance Manager, who has worked tirelessly with us to maintain the space here at St Anne’s. - To the PCC for their continuing support and guidance. And finally, to the diligent guidance and support of Father Simon, as without him it is very unlikely so much would have been achieved in 2020. John Witts & Mark Godfrey ## **Churchwardens** 7 Report on the Activities of the PCC The PCC met five times across 2020. The Secretary was Suzanne Baker-Downes until October when she stepped down from the role. The Parish Administrator, Jake Lee, was appointed Secretary. The following Standing Items were discussed at every meeting: - Safeguarding - Electoral Roll - Finance & Budget The following matters were all discussed or agreed at meetings during the year: - Disabled access to St Anne’s Gardens (subsequently put on hold indefinitely) - • The opening of St Anne’s during the pandemic - The installation of a new fire alarm system - The licence and lease holders based at St Anne’s - The school’s use of the Community Hall Jake Lee ## **PCC Secretary** ## Electoral Roll Officer’s Report 2020, saw a revision of the electoral roll which was presented at the APCM. The electoral roll now stands at 81 as at end 2020. 30 Residents 51 Non residents James Wardlaw ## **Electoral Roll Officer** 8 ## Safeguarding Officer’s Report At St Anne’s, we have had no Safeguarding incidents since the last APCM. On the PCC’s behalf I have continued to maintain an accurate list of Disclosure & Barring Service (DBS) checks, monitoring when they are due, for those in key roles within the Church. As with all other aspects of church life the impact of COVID-19 has massively impacted on St Anne’s On the PCC’s behalf I would like to take this opportunity to thank Mark Godfrey who has been the Safeguarding Officer until October. Adam Bell ## **Safeguarding Officer** ## Westminster (St Margaret) Deanery Report The activities of the Deanery Synod were rather curtailed in 2020. However, a useful summary from the 20 parishes and six chaplaincies of the Deanery provided a fascinating window into how our different churches responded to the challenges of closure and COVID, and work began on a Parishes in Partnership scheme to enable parishes to support each other in diverse and appropriate ways. In 2020 Bishop Sarah invited Fr Simon to assist the Area Dean, Philip Chester, as Sub Area Dean. Andrew Mackay ## **Deanery Synod Representative** 9 Treasurer’s Report The audited figures for income and expenditure at St Anne’s are set out in detail in the Statement of Financial Activities commencing on page 16. This provides a detailed breakdown of the financial income and expenditure. The Financial Statements have been examined by an Independent qualified examiner as required by the Charities Act. Where there are references [ _n]_ these refer to the explanations contained in the ‘Notes to the Financial Statements’ commencing on page 20. ## **Budget** A budget is an estimation of costs that are anticipated. More often than not, it will not be accurate in its entirety hence being referred to as a budget. Unforeseen expenditure or under-spend may occur throughout the year. The budget and expenditure are therefore reconciled at the end of each budget year. The budget for 2020 has been thrown wildly out of estimates due to the Coronovirus19 pandemic. The result of the pandemic was that income dropped due to loss of rents and room hires. Expenditure, although trimmed to the maximum was a greater burden. Inevitably we ended 2020 with a large deficit between what we took and what we spent. ## **Accounting Policy** It should be noted that the figures show income and expenditure on an _accrual_ based accounting system. ## **Unrestricted and Restricted funds** St Anne’s income and expenditure is divided into _Unrestricted_ and _Restricted_ funds. The figures below represent the _unrestricted_ funds – that is to say funds available for the support and ministry of St Anne’s. Sometimes we are given funds for a specific task and these are known as _restricted_ funds to be used only for the purpose for which they were given. The only current restricted fund is the Bryan Burroughs ‘clock’ fund. The final audited figures for all the funds (unrestricted and restricted) for the year 2020 are as follows; With the monitoring of the income and expenditure by the administrator and regular reports by way of meetings with the treasurer and reports to the PCC I am pleased to say that St Anne’s has come through very close to budget. The figures show that our income was 31% below budget and that the expenditure was also below our expected figure by 11% making a net variation of 20%. 10 The final audited figures for all the funds (unrestricted and restricted) for the year 2020 are as follows; |are as follows;||||| |---|---|---|---|---| ||**Budget**|**Actual**|**% of budget**|**Variance +/- **| |**Income**|£ 288,000|£ 198,891|69.1%|- £ 89,108| |**Expenditure**|£ 275,000|£ 245,380|89.2%|- £ 29,620| With the monitoring of the income and expenditure by the administrator and regular reports by way of meetings with the treasurer and reports to the PCC I am pleased to say that St Anne’s has come through very close to budget. From these figures you will see that our income was £89,108 less than anticipated and our expenditure was also less than the budgeted amount at £29,620. Expressed as a percentage the figures show that our income was 31% below budget and that the expenditure was also below our expected figure by 11% making a net variation of 20%. By way of comparison to 2019 the figures were as follows; ||**2020**|**2019**| |---|---|---| |**Incoming Resources**|£ 198,891|£ 271,442| |**Resources Expended**|£ 245,380|£ 247,952| ## **Unrestricted Funds 2020** ## **Income** Funds come into St Anne’s in a three principal ways. - Voluntary income (Collections, Donations etc.) - Short term hire of the Hall, Allen and Tower rooms. - Long-term rentals and investments. In 2020 the total unrestricted income to St Anne’s, as indicated under Incoming Resources was £198,891. Voluntary income such as church collections and regular giving amounted to £66,850[[2a]] . Our primary source of revenue is by way of short-term lettings which account for £96,808[[2b]] . This figure comprises the hire of the Hall, Allen room and Tower room together with small rentals. Long-term letting brings in additional funds which amounted to £32,672 [2c] for the year. The combined sum amounts to £196,329 with the remaining funds of £2,562 coming by way of interest on investments. It must be noted that the Coronavirus has had an impact on income due to lower hiring of rooms and facilities. In addition, a rental holiday given to some of our tenants depleted out resources further. Conversely, in 2020 we received a number of generous donations in addition to increased regular and planned giving for which we are grateful. 11 ## **Expenditure** In the year to December 2020 the total expenditure for St Anne’s activities amounted to £245,380. The two biggest calls on the funds of St Anne’s are our commitment to the London Diocese ‘Common Fund’ which in 2020 was £85,200 and the salary and administration costs of the Church which amounted to £60,227[3] . It is worth noting that St Anne’s does not receive financial support from the Diocese and that we are self-sufficient in regard to administration and repairs costs which on occasion may be substantial. ## **Common Fund (3)** The Common Fund is money given by every parish in the Diocese of London to a central ‘fund’. It is collected from parishes like St Anne’s, to pay and support clergy, and to further the work of the Diocese in all parishes across London (hence the name “ _Common_ Fund”). In 2020 our contribution towards the Diocese amounted to £85,200. ## **Employment & Administration Costs**[3] St Anne’s employs a full-time administrator as well as caretakers for out of hour’s lettings. In addition we also employ a facilities manager on a part-time basis. Nearly a third of the total employment costs for the parish are for caretaking fees. While not an employee as such, we also support the curate in full by way of our contribution to his stipend and costs. This is done together with a generous benefactor. ## **Other Expenditure** Apart from the Common Fund and Employment / Administration costs which traditionally take up the bulk of the funds there have been on-going cleaning, repairs, renewals and building maintenance work which has incurred both calculated and un-planned expenses totalling £95,311[[3]] ## **Charitable Giving and Support**[4] St Anne’s supports the community and further afield in a variety of ways including providing cash donations to various organisations. St Anne’s also provides free or reduced rate facilities for the use of social and welfare groups. In 2020 St Anne’s as follows[[4]. ] |Centrepoint
Deanery Schools Fund
Other donations less than £1,000
£|1,100
1,363
1,575| |---|---| ||4,210| *In addition St Anne’s provided a rent free period for Centrepoint amounting to £42,000 as well as free or reduced room hire to others in the sum of £28,596. 12 ## **Investments & Reserves**[6 ] St Anne’s invests funds through CCLA who are one of the UK's largest charity fund managers. They only manage investments for charities, religious organisations and the public sector and are largely owned by clients' funds. We use two of their offerings; The CBF Church of England Investment and also the Church of England Fixed Interest Fund. In addition, we hold some money on short-term deposit to cover our obligations to re-decorate the Rectory from time to time. All investment & reserve funds form St Anne’s ‘reserve funds’ and these are held in trust by the PCC. The investment shares returned an unrealised gain of £12,562 in 2020. The investment capital is held as St Anne’s financial reserves and short-term deposits. We do this in order to have funds available at short notice to cover significant repair or other unforeseen costs. These reserves have helped us to keep going in the extraordinary circumstances of the 2020 pandemic. The PCC reviews these each year to ensure that adequate funds are available without losing out on any potential investments. The reserves are not used in the day to day operation of St Anne’s but for situations where our income is jeopardy such as in 2020. At the 31st December 2020, the financial reserves stood at £82,048[[6]] . It should be noted that in addition we also have reserves of £6,959[{8}] which is the balance of the fund bequeathed by Bryan Burroughs which is held in a restricted account. ## **Gift Aid** St Anne’s is grateful for financial support by way of donations and as a registered charity, can claim back 25% of the value for all donations made by UK tax payers (providing the donor has paid enough tax to cover all of their charitable donations and not just the donations made to St. Anne’s). If you give financial aid (regularly or otherwise), you are encouraged to do it by way of Gift Aid or Standing order (details at the end of the report). ## **Bank** We currently bank with the CAF (Charities Aid Foundation) bank. This bank is expressly focused on Charity banking and provides a number of useful facilities to ensure both transparency and ease of management of St Anne’s funds. ## **Bryan Burroughs Fund 2020** The Bryan Burroughs fund is our only restricted fund. Bryan Burroughs was a great supporter of St Anne’s and was instrumental in getting the Church rebuilt in the 1990’s. When he passed away one of his legacies to St Anne’s was a cash sum for the upkeep of the clock. This is known as the _Bryan Burroughs fund_ . ## **Capital Works** St Anne’s has a rolling program of capital works to maintain and improve the Chapel, community hall and other areas. 13 In 2020 we undertook the complete replacement of the Fire Alarm system and have extended it to other areas of the Church (37,638). A new door to the Aumbry was commissioned and paid for (£3,284), though I should mention that £1,313 was contributed by the Schuenemann Foundation to this project. In addition, there were other works including new fuse boards throughout (£7,386) complete new kitchen and lobby to the Allen Room (£17,439). The sum of capital works for 2020 amounted to £77,050. It should be noted that while we had to draw down funds for these works nearly all had been commissioned sometime beforehand, often a year or two previously and had we been aware of the CV19 situation then they may not have been undertaken. Finally, the capital works are not part of the regular day to day budget as they are not regular, year on year costs. ## **Risk Management and Financial Control** It is vital that St Anne’s as both a Church and a Charity is transparent in financial matters. The Treasurer and PCC continue to identify and review major risks to which we are exposed and already have procedures and identified systems in place to manage these. Controls in place at St Anne’s help ensure that purchases have been authorised, and that the goods or services ordered have actually been received. These controls help ensure that only necessary and authorised purchases are made and that funds exist within approved budgets to meet the expenditure. I am confident that with the methods and procedures in place at St Anne’s we can demonstrate both transparency and accountability for all our funds. As a result, opportunity for fraud, dishonesty or error is minimised. In conclusion, I would like to thank our parish administrator and officers of the church in 2020 for the dedicated and efficient manner in which they have overseen the finances and to all those who gave freely in support of St Anne’s throughout the year. ## **Charity Responsibility** The PCC members are responsible for making decisions on all matters of general concern and importance to the parish including deciding on how the funds of the PCC are to be spent. They do this as trustees of the charity and I am grateful to them for their oversight and guidance during 2020. ## Trevor Langford-Read **PCC Treasurer** 14 Financial Statements for the year ended 31 December 2020 ## **Independent Examiner's Report to the Members of the Parochial Church Council of St Anne's Church Soho** I report on the financial statements of the church for the year ended 31 December 2020 which are set out on pages 2 to 6. ## **Respective responsibilities of members and examiner** The PCC members are responsible for the preparation of the accounts. The members consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the Act) and that an independent examination is needed. It is my responsibility to: - a) Examine the financial statements under section 145 of the 2011 Act - b) To follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the 2011 Act; and - c) To state whether particular matters have come to my attention. ## **Basis of Independent Examiner's report** My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as members concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those matters set out in the statement below. ## **Independent examiners’ statement** Since the gross income for the year exceeds the amount provided in Section 145(3) of the Act, I confirm that I am qualified to act as Independent Examiner under the provisions of that section of the Act and that my qualification is as shown below. In connection with my examination, no matter has come to my attention: 1. Which gives me reasonable cause to believe that in any material respect the requirements a) to keep accounting records in accordance with section 130 of the 2011 Act; and - b) to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met; or 2. To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. ## Julia Burford Member of the Association of Chartered Certified Accountants 77 Upton Road, Bexleyheath, Kent DA6 8LN 15 Statement of Financial Activities for the year ended 31 December 2020 |**Note**
**Incoming resources**
Voluntary income
2 (a)
Activities for generating funds
2 (b)
Church activities
2 (c)
Investment income- income received
Total incoming resources
**Resources expended**
Church activities
3
Donations
4
Total resources expended
Net incoming resources before other
recognised gains/(losses)
Revaluation gains/(losses) on investments
6
Net movement in funds
Balances b/fwd 1 January
Balances c/fwd 31 December|**Unrestricted Restricted**
**funds**
**funds**
66,850
0
96,808
32,672
2,562
198,891
0
240,738
432
4,210
244,948
432
-46,057
-432
5,747
-40,310
-432
284,929
6,959
244,618
6,527|**TOTAL**
**2020**
66,850
96,808
32,672
2,562
198,891
241,170
4,210
245,380
-46,489
5,747
-40,742
291,888
251,145|**TOTAL**
**2019**
39,071
166,899
62,819
2,654| |---|---|---|---| ||||271,443| ||||240,306
7,646| ||||247,952| ||||| ||||23,491
12,562| ||||36,053
255,835| ||||291,888| ||||| 16 Balance Sheet for the year ended 31 December 2020 |**Fixed assets**
Fixed assets- tangible
Fixed Assets- investment
**Total fixed assets**
**Current assets**
Debtors- rents receivable
Short term deposit- CBF deposit fund
Cash at bank and in hand
**Current liabilities**
Creditors and accruals
Net current assets
**Total net assets**
**Represented by parish funds**
Unrestricted
Restricted
**Total funds**|**Note**|**Unrestricted Designated Restricted**
**funds**
**funds**
**funds**|**TOTAL**
**2020**|**TOTAL**
**2019**| |---|---|---|---|---| ||5
6
7
8
8|57,159
87,795
144,953
0
0
5,319
7,612
6,527
89,459
102,391
0
6,527
2,726
0
0
99,665
0
6,527
244,618
0
6,527
244,618
6,527
244,618
0
6,527|57,159
87,795
144,953
5,319
14,139
89,459
108,917
2,726
106,191
251,144
244,618
6,527
251,145|11,021
82,048| |||||93,069
2,610
14,139
183,914| |||||200,664| |||||| |||||3,044| |||||198,819| |||||291,888| |||||284,929
6,959| |||||291,888| The notes on pages 19-22 form part of these accounts. Approved by the Parochial Church Council and received by the Annual Parochial Church Meeting on 16th May 2021 and signed on its behalf by: Reverend Simon Buckley **Rector of St Anne’s, Soho Chair of the PCC** Jake Lee **PCC Secretary** 17 Notes to the financial statements ## **1. ACCOUNTING POLICIES** ## **Basis of preparation** The PCC is a public benefit entity within the meaning of FRS102. The financial statements have been prepared under the Charities Act 2011 and in accordance with the Church Accounting Regulations 2006 governing the individual accounts of PCCs, and with the Regulations' "true and fair view" provisions. They have been prepared under FRS102(2016) as the applicable accounting standards and the 2016 version of the Statement of Recommended Practise, Accounting and Reporting by Charities (SORP(FRS102)). The financial statements have been prepared on the accruals basis. ## **Consecrated and benefice property** In so far as consecrated and benefice property of any kind is excluded from the statutory definition of "charity" by Section 10(2)(a) and (c) of the Charities Act 2011 such assets are not capitalised in the financial statements. ## **Tangible fixed assets for use by the charity** These are capitalised if they can be used for more than one year and cost at least £2,000. They are valued at cost and depreciated over 4 years. ## **Moveable church furnishings** Moveable church furnishings held by the Rector and Churchwardens on special trust for the PCC and which require a faculty for disposal are accounted for as inalienable property unless consecrated. They are listed in the church's inventory which can be inspected at any reasonable time. For inalienable property acquired prior to 2001 there is insufficient cost information available and therefore such assets are not valued in the financial statements. ## **Funds** Unrestricted funds represent the general funds of the PCC that are not subject to any restrictions regarding their use and are available for application on the general purpose of the PCC. Designated funds are general funds set aside by the PCC- they remain unrestricted and the PCC will move any surplus to other general funds. Restricted funds must be spent on restricted purposes and details of the funds held are shown in the notes to the accounts. 18 Notes to the financial statements ## **Incoming resources** Collections and donations are recognised when received by or on behalf of the PCC. Gift aid is recognised when the income is received. Rent from land and buildings owned by the PCC and leased by licence under faculty is recognised when the rent is due. Rental income or income from lets to organisations whose aims either accord with those of the PCC or are supported by the PCC is treated as "Income from church activities". All other rental income or income from lets is treated as "Income from activities for generating funds" ## **Investment assets** Investments are valued at market value at 31 December and unrealised gains or losses are accounted for in the SOFA. ## **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 any amounts that may prove uncollectible. ## **Resources expended** Grants and donations are accounted for when paid over, or when awarded if that award creates a binding obligation on the PCC. Any diocesan quota unpaid at 31 December is provided for as an operational (though not a legal) liability and shown as a creditor in the Balance Sheet. 19 Notes to the financial statements |**2**
a)
b)
c)
**3**|**Incoming resources**
Voluntary income
Covenanted income
Collections at services
Grants and Legacies
Donations
Gift aid recovered
Activities for generating funds
South passage rental
Airspace rental
Mobile mast/Air extractor income
Hall lettings
Allen room and Tower room lettings
Fund raising
Church activities
Centrepoint rent
Vance room rent
Fees for funerals etc
Other income
Lunch club income
**Church activity expenses**
Diocese contribution and church fees
Ministry, including hospitality
Sanctuary goods
Provision of music at services
Lunch club expenses
Heat, light and water costs
Cleaning and waste disposal
Small repairs, maintenance and gardening
Clock and other major repairs
Insurance
Legal and professional fees and payroll costs
Independent examiner's fees
Health and safety
Communications, printing and stationery
Staff costs (see below)
Computer and photocopy costs
Depreciation
Other costs
**_Staff costs_**
Wages and salaries
Employers NI
Pension costs|**Unrestricted**
**funds**
|**Restricted**
**funds**|**TOTAL**
**2020**|**TOTAL**
**2019**| |---|---|---|---|---|---| |||14,255
6,675
34,128
7,055
4,736
66,850
6,660
10,857
17,231
26,225
35,425
410
96,808
19,541
11,543
200
337
1,051
32,672
85,200
3,545
1,688
6,690
858
7,836
4,908
16,806
0
6,703
8,677
480
4,759
5,904
60,227
2,348
22,605
1,504
240,738|0
0
0
432
432|14,255
6,675
34,128
7,055
4,736|9,091
9,403
0
15,158
5,149| |||||66,850|39,071| |||||6,660
10,857
17,231
26,225
35,425
410|23,580
10,857
16,731
58,141
54,282
3,308| |||||96,808|166,899| |||||19,541
11,543
200
337
1,051|39,000
18,149
1,614
827
3,229| |||||32,672|62,819| |||||85,200
3,545
1,688
6,690
858
7,836
4,908
16,806
432
6,703
8,767
480
4,759
5,904
60,227
2,348
22,605
1,504|80,757
7,740
2,259
7,220
3,628
6,431
11,447
22,239
7,156
13,448
2,216
650
3,710
5,625
49,057
1,473
5,417
3,281| |||||241,170|240,306| ||||||| ||||||| |||||59,540
687|48,287
0
770| |||||60,227|49,057| During the year the PCC employed a full time administrator and part time care taker. 20 Notes to the financial statements **4. DONATIONS MADE** Centrepoint 1,100 Deanery School’s Fund 1,363 Other donations less than £1,000 1,575 Discounts on room hire to charities 28,596 **32,634** |**5**
**6**|**Unrestricted**
**Designated**
**Restricted**
**TOTAL**
**funds**
**funds**
**funds**
**2020**
**FIXED ASSETS- Furniture, fittings and equipment**
Cost at 1 January 2020
21,668
21,668
Additions during the year
68,473
68,473
Old assets written off
0
0
Cost at 31 December 2019
90,411
90,411
Depreciation 1 January 2019
10,647
10,647
Old assets written off
0
0
Charge for the year
22,605
22,605
Depreciation 31 December 2019
33,252
33,252
Net book value 31 December 2019
57,159
57,159
Net book value 31 December 2018
11,021
11,021
**INVESTMENTS**
The PCC holds 4,145 units in the CBF Investment fund and 1,696 units in the CBF Fixed Interest Securities
Fund. The funds were valued at market value at 31 December- the unrealised gain for the year was £12,562.|**Unrestricted**
**Designated**
**Restricted**
**TOTAL**
**funds**
**funds**
**funds**
**2020**
**FIXED ASSETS- Furniture, fittings and equipment**
Cost at 1 January 2020
21,668
21,668
Additions during the year
68,473
68,473
Old assets written off
0
0
Cost at 31 December 2019
90,411
90,411
Depreciation 1 January 2019
10,647
10,647
Old assets written off
0
0
Charge for the year
22,605
22,605
Depreciation 31 December 2019
33,252
33,252
Net book value 31 December 2019
57,159
57,159
Net book value 31 December 2018
11,021
11,021
**INVESTMENTS**
The PCC holds 4,145 units in the CBF Investment fund and 1,696 units in the CBF Fixed Interest Securities
Fund. The funds were valued at market value at 31 December- the unrealised gain for the year was £12,562.|**Unrestricted**
**Designated**
**Restricted**
**TOTAL**
**funds**
**funds**
**funds**
**2020**
**FIXED ASSETS- Furniture, fittings and equipment**
Cost at 1 January 2020
21,668
21,668
Additions during the year
68,473
68,473
Old assets written off
0
0
Cost at 31 December 2019
90,411
90,411
Depreciation 1 January 2019
10,647
10,647
Old assets written off
0
0
Charge for the year
22,605
22,605
Depreciation 31 December 2019
33,252
33,252
Net book value 31 December 2019
57,159
57,159
Net book value 31 December 2018
11,021
11,021
**INVESTMENTS**
The PCC holds 4,145 units in the CBF Investment fund and 1,696 units in the CBF Fixed Interest Securities
Fund. The funds were valued at market value at 31 December- the unrealised gain for the year was £12,562.|**TOTAL**
**2019**
16,171
8,444
-2,947| |---|---|---|---|---| |||||21,668| |||||8,177
-2,947
5,417| |||||10,647| |||||11,021| |||||7,994| |||||| |7|**CREDITORS**
PAYE
Accruals|**Unrestricted**
**Designated**
**Restricted**
**funds**
**funds**
**funds**
1,497
1,231|**TOTAL**
**2020**
1,497
1,231|**TOTAL**
**2019**
344
1,503| |**8**|**PARISH FUNDS**
Unrestricted funds
Restricted funds
Bryan Burrough clock fund
Total restricted funds|2,728
0
0
**Balance**
**1.1.20**
**Income**
**Expenditure**
284,929
204,638
-247,209
6,959
-432
6,959
0
-432|2,728
**Transfers**
0|1,847| |||||**Balance**
**31.12.20**| |||||244,618| |||||6,527| |||||6,527| |||**Unrestricted**|**Designated**|**Restricted**|**TOTAL**|**TOTAL**| |---|---|---|---|---|---|---| |7|**CREDITORS**|**funds**|**funds**|**funds**|**2020**|**2019**| ||PAYE|1,497|||1,497|344| ||Accruals|1,231|||1,231|1,503| |||2,728|0|0|2,728|1,847| |||**Balance**||||| |**8**|**PARISH FUNDS**|**1.1.20**|**Income**|**Expenditure**|**Transfers**|**Balance**| |||||||**31.12.20**| ||Unrestricted funds|284,929|204,638|-247,209||244,618| ||Restricted funds|||||| ||Bryan Burrough clock fund|6,959||-432||6,527| ||Total restricted funds|6,959|0|-432|0|6,527| 21 The Rector: Revd Simon Buckley rector@stannes-soho.org.uk 07964 403368 0207 437 1012 @annessoho @stanneschurchsoho 22 ## Support St Anne’s Church The Church of England is becoming less able to rely on its historic assets to generate income, so parish churches like ours have to become as self-sufficient as we can and, if possible, help poorer parishes in London. We believe we are making our buildings (and people!) work very hard to generate as much income as possible, but we also need support from our congregation and the people who know us. If you would like to support us then please complete the form below to help ensure that St Anne’s continues its worship, work and witness in Soho. ## **Standing Order Instruction** Bank Name ~~__~~ Bank Address ~~[_ssts—“CS™S™~™~SOSCSC(;C;C;C;C~S;~~ Account Name ~~[_OO—S—CCS~~ Sort Code ~~[_OO—S—CCS~~ Account Number ~~[_C—“—SCSCCTTTC;CéC~~ Please pay the sum of £ ~~[_OC—“SCTCi‘