St. Martin's Church West Acton Parish Reference Number: 22.14 Registered Charity no. 1132976 Annual Report 2020 L¢ ST MARTIN'S CHURCH, WEST ACTON Annual Report of the Parochial Church Council for 2020 Adminlstrative information St. Martln's Church is situated in Hale Gardens, Acton. It Is part of the Diocese of London within the Church of England. All correspondence should be sent to.. The Parish Office, Rear of Church Hall, Hale Gardens, London W3 9SQ. The Parochial Church Council Of The Ecclesiastical Parish Of Saint Martin, West Acton is a charity registered with the Charity Commission {registered charity number 1132976). Throughout thls report the charity will be referred to as the PCC. During the year the followlng served as members of the PCC., Incumbent.. Revd Julla Palmer Licensed Lay Minister to the Japanese Anglican Church UK.. Mr5 Yuki Johnson Assistant Curate.. Rev Bryony Franklin Reader.. Dr Margaret Jones Reader Emeritus.. Mrs Lynne Armstrong Churchwardens.. Mrs Elizabeth Ambrldge Vacant Deputy Churchwarden: Mrs CamSlla Reid Representatives on the Deanery Synod.. Mr Sam Boundy Mrs Mary Cook Revd Bryony Franklin Mrs Shelley Merrick Ms Rosemary Hart Until Oct 2020 Untll Oct 2020 Until Oct 2020 From Ocl 2020 From Oct 2020 Elected members Mrs Lynne Armstrong Mr Kenneth Chan Mr Raymond Choi Mr James Hyde Ms Yuki Johnson Mr Ben Mason Mrs Slielley Nerrick Ms Angela North Mr Lyndon Plant Appointed Secretary.. Mrs Lynne Armstrong Treasurer Lay Vice Chair Sidespeople were.. Arden Anderson Jill Burton Betty Anderson Mary Cook Margaret Jones Brenda Ward John Beastall John Holt Lyndon Plant Ellen West Caniilla Reid Bank.. HSBC, 31 Holbom, Holbom Circus, London ECIN 2HR Dep051t Account., CCLA Investment Management Ltd, CBF Church of England Funds, 80 Cheapside, London EC2V 60Z Independent Examiner Mr Amandeep Singh Bhogal, 56 Scarle Road, Wembley, Middx HAO 4SN Structurei governance and management The Parochial Church Council IPCC) is 3 corporate body established by the Church of England. The PCC operates under the Parochlal Church Council Powers Measure. The method of appointment of PCC members Is set out In the Church Representation Rules. All Church attendees are encouraged to reglster on the Electoral Roll and stand for elertlon to the PCC. Members of the PCC with specific responsibilities attend tralnlng courses where approprlate. The PCC revises its Risk Assessment Policy on a regular basis. The Dlsclosure and Barrlng Service IDBS) Checking Officer wa5 Mrs Shelley fvlerrick, The Safeguarding Officer was Ms Jennlfer Dudley. The Children's Champlon was Mrs Shelley Merrick. The Electoral Roll Officer was Mr Michael Frank5. The Stewardship Officer wa5 Mrs Denlse Taylor Objectlves and Actlvltles St Martln's PCC has the responslblllty of co-operatlng wlth the Incumbent, the Revd Julla Palmer, in promotlng In the eccleslastlcal parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical. Achievements and Performance The APCM 2020 recorded 148 parishioners on the Church Electoral Roll. The average weekly attendance, counted durlng October 2020, was 39 adults and 9 children and young people. Attendance online for livestreamed services averaged 30 logged attendances. A PCC Digest follows later in thls report. PCC meetings were held via Zoom. Some business was dlscussed via email correspondence and decSsions later ratified by the full PCC as necessary. other group reports contalned withln thls booklet detail their respective achievements during the year. Financial Review Total receipts on ordinary restricted and unrestrtrted funds were £187.418 and are detailed in the Statement of Financial Activities (SOFA). £172,618 was spent to provide the Christian ministry from St Martin's Church, including the contribution to the Diocesan Common Fund (£82,800), which largely provides the stipend5, pension and housing for the clergy. The net result for the year was a surplus in income over expenditure of £14,800. After addlng bank and deposit balances brought forward at the beginning of the year, the balances carried forward at 31st December for restricted and unrestricted funds totslled £493.276. Reserves policy It is PCC policy to malntain a balance on unrestrfcted funds (If posslble), whlch equates to approximately six months unrestricted payments, to cover emergency situation5 that may arise from time to time. It Is our pollcy to Invest our funds balances with the C8F Church of England Deposit Fund Approved by the APCM on 25 Aprll 2021 and signed on thelr behalf by Revd Julia Palmer (PCC Chalr) and PCC member St Martin's Annual Parochial Church Meeting 2020 Clergy Report 2020 - 2021 This last year has been an iiniisiial year for St Martins in many ways. Fir.stly, we have hcid three l(Ickdoivns hecciuse i)f-Ihe pandemic. At the eiid of March 2020. we wei'e asked by ilie cliurcli aiiiliorilies to close our d(Trors to lielp Lun(aiii IIIL virus. So, we startcd recordii)g scivices , no rLfi'eslinienls Iller tlie seriiice, rLLeiviiiL? coiiin)uni(Iii iii oiie kii)d oiily (no wiiiL) and WLdring lacc m85ks iii ¢hur¢h. Rill g¢nerii ai)d ali ,iiiclion dl Ilie bL&iiiinins7 of Deceiiiber dnd raised nearly £411,000. 'I'his H'as rcin Income Investment
Income
Fund
0%
Raising
Receipts
4%
Agency & Trading
PCC Fees Receipts Planned
1% 15% Giving
Other
27%
Grant Giving
Received - 4%
Restricted
Grant 12% Loose
Other
Received Gift Aid Collections
0% Recovered Voluntary - Junior
Other 13% Receipts Church
22%
Voluntary 0%
Receipts -
Restricted
2%
**----- End of picture text -----**
## **Increase in Income from Donation and Legacies** Despite losing almost half of the income from church collections due to the lockdowns, the income form total donations and legacies increased by £11,278 (10%) to £126,941 in 2020. This was mainly driven by the success of the Back on Track appeal which raised more than £30,000 (excluding Gift Aid Recovered) on the Gift Day alone. In addition, there was a 12% increase in Planned Giving leading to the breakthrough of £50,000 benchmark for the first time. ## **Income from Charitable and Trading Activities** The bulk of income from charitable activities was the outstanding Biffa grant for the hall refurbishment carried out in 2019 and early 2020. While the Trading Receipts from rentals were decreased as a consequence of the lockdowns, Fund Raising Receipts were outstanding with the phenomenally popular first ever auction raising £7,000 within 2 hours. 1 ## **The Parochial Church Council of St Martin’s West Acton** Treasurer’s Report for the year ended 31 December 2020 ## **Expenditure** **----- Start of picture text -----**
Agency Fees
0.4%
Trading & Hall
Cost
Governance 15.4%
0.2%
Clergy & Staff
Cost
Common Fund
10.4%
48.0%
Church Running
Cost
24.7%
Charitable
Missions & Giving 0.2%
Cost of Fund Other Funds
Raising 0.2% 0.6%
**----- End of picture text -----**
## **All types of Expenditure remained broadly unchanged except for the Church Running and Trading and Hall Costs** Church Running Cost (Note 8): - (i) Church and Churchyard Upkeep – Included £1,896 one-off cost for returfing the lawn - (ii) Repairs and Maintenance – Included £15,523 one-off cost for rewiring the whole church - (iii) Sundry – Included £350 one-off cost for streaming equipment Trading and Hall Cost (Note 12): - (i) Cleaning – Increased due to additional cleaning to prevent COVID-19 (ii) Refurbishment – Final payment of £16,304 for new glazed entrance ## **The Common Fund remained the biggest expenditure item** Our contribution to the Common Fund remained at £82,800 following an agreement with the Diocesan of London to hold our contribution at 2019 level. This was about 48% of total expenditure (60% of recurring expenditure). As an ongoing commitment, there remained a “Commitment Gap” in spite of the increase in Planned Giving. ## **Repayments for London Diocesan Fund Loan started in September 2019** £4,992 of the loan was repaid in 2020. The total repayment due in 2021 would be £4,992. This was an interest free loan repayable over 4 years with repayment starting from 1 year after drawn down. As we drew down the loan in August 2018, the loan would be fully repaid by September 2023. 2 ## **The Parochial Church Council of St Martin’s West Acton** Treasurer’s Report for the year ended 31 December 2020 ## **Result for the year** The consolidated increase in funds for the year was £14,800 (2019: £11,807 decrease) of which £10,460 deficit was attributable to unrestricted funds and £25,260 surplus to restricted funds. This surplus was caused by the delay in receiving the remaining £24,000 Biffa grant from 2019 to 2020. ## **Going Concern** We expect the income from donation and rental to remain at a reduced level in 2021 due to COVID-19. Our 2021 budget projected a deficit of just over £10,000 for the year ended 31 December 2021. As the main cost being our pledge to the London Diocesan Common Fund, the PCC has agreed with the Diocese that we would commit to two thirds of the full amount. Furthermore, with the receipt of an one-off donation of £15,000 recently, the PCC now expects a modest surplus for the year ended 31 December 2021. As a result, they have adopted the going concern basis of accounting. ## **Reserves policy** The PCC’s reserves policy is to maintain sufficient free reserves (if possible), which equates to approximately six months’ unrestricted payments, to cover emergency situations that may arise from time to time. 3 ## **The Parochial Church Council of St Martin’s West Acton** ## Statement of Financial Activities for the year ended 31 December 2020 |Notes
**Income from Donations and Legacies**
Planned Giving
Other Giving
Loose Collections - Junior Church
Other Voluntary Receipts
2
Gift Aid Recovered
**Income from Charitable Activities**
Grant Received
PCC Fees
Agency Fees
**Income from Other Trading Activities**
Fund Raising Receipts
3
Trading Receipts
4
**Investment and Other Income**
Deposit Interest Received
**Total Incoming Resources**
**Expenditure**
Common Fund
Charitable Giving
5
Missions and Other Funds
6
Cost of Fund Raising
7
Church Running Cost
8
Clergy and Staff Cost
9
Governance
10
Agency Fees
11
Trading and Hall Cost
12
**Total Expenditure**
**Net Movement**
Fund Balance as at 1 January 2020
**Fund Balance as at 31 December 2020**|Unrestricted
Funds
**£**
50,003
7,778
170
41,413
24,194|Restricted
Funds
**£**
3,383|**Total**
**2020**
Total
2019
**£**
£
**50,003**
**44,568**
**7,778**
**12,049**
**170**
**803**
**44,796**
**41,605**
**24,194**
**16,638**
**126,941**
115,663
**22,750**
12,000
**588**
339
**747**
271
**24,085**
12,610
**7,476**
5,039
**28,913**
38,456
**36,389**
43,495
**3**
6
**3**
6
**187,418**
171,774
**82,800**
82,800
**273**
325
**1,000**
2,160
**271**
3,765
**42,707**
21,676
**17,898**
22,825
**300**
300
**747**
271
**26,622**
49,459
**172,618**
183,581
**14,800**
**478,476**
**493,276**| |---|---|---|---| ||123,558
750
588
747|3,383
22,000|| ||2,085
7,476
28,913|22,000
25,383
123|| ||36,389
3||| ||3
162,035
82,800
150
1,000
271
42,707
17,898
300
747
26,622||| ||172,495
(10,460)
481,938|123
25,260
(3,462)|| ||471,478|21,798|| The notes on Page 6 to 12 form part of these financial statements. 4 ## **The Parochial Church Council of St Martin’s West Acton** ## Balance Sheet as at 31 December 2020 |Notes
**Fixed Assets**
Tangible Fixed Assest: Buildings
13
**Current Assets**
Debtors and Prepayments
14
Cash at Bank
Cash at CCLA Deposit Account
Cash in Hand
**Current Liabilities**
LDF Loan Due Within 1 Year
Creditors and Accruals
15
**Net Current Assets / (Liabilities)**
**Long Term Liabilities**
LDF Loan Due After More Than 1 Year
**Net Assets / (Liabilities)**
**Funds**
Unrestricted Funds
16
Restricted Funds
16
**Fund Balance as at 31 December 2019**|**£**
**2,467**
**106,945**
**744**
**40**|**Total**
**2020**
Total
2019
**£**
£
**402,656**
402,656
7,083
91,268
741
34
**110,196**
99,126
4,992
**11,256**
5,001
**98,940**
89,133
**8,320**
13,313
**493,276**
478,476
**471,478**
481,938
**21,798**
(3,462)
**493,276**
478,476| |---|---|---| ||4,992
6,264|| The notes on Page 6 to 12 form part of these financial statements. Approved by the Parochial Church Council on 19 April 2021 and signed on their behalf by the Chairperson, Rev’d Julia Palmer, and the Treasurer, Mr Kenneth Chan. ___________________________________ Rev’d Julia Palmer Chairperson ___________________________________ Mr Kenneth Chan Treasurer 5 ## **The Parochial Church Council of St Martin’s West Acton** Notes to the financial statements for the year ended 31 December 2020 ## **1 Basis of Preparation** These financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these financial statements. The financial statements have been prepared under the Charities Act 2011 and in accordance with the Church Accounting Regulations 2006 governing the individual accounts of Parochial Church Councils, and with the Regulations’ “true and fair view” provisions, together with FRS 102 (2016) as the applicable accounting standards and the 2016 version of the Statement of Recommended Practice: Accounting and Reporting by Charities (FRS 102 SORP). The Parochial Church Council of St Martin’s West Acton (PCC) constitutes a public benefit entity as defined by FRS 102. There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 or FRS 102 SORP. ## **1.1 Income** Incoming resources are included in the Statement of Financial Activities (SoFA) when the PCC becomes entitled to the resources; it is more likely than not that the trustees will receive the resources; and the monetary value can be measured with sufficient reliability. ## **1.2 Recognition of Income and Endowments** **Fundraising Costs:** Funds raised from events and trading activities, e.g. Summer Fair and Christmas Bazaar, are reported gross in the SoFA – i.e. before any related costs that may have been deducted from the gross proceeds. **Grants and Donations:** Grants and donations are included in the SoFA when any pre-conditions preventing their use by the PCC have been met. For collections and planned giving this is when the funds are received. **Tax reclaims on Donations and Gifts:** Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise. **Volunteer Help:** The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report. **Rental Income:** Rental income from the letting of the church is recognised when the rental is due. **Investment Income:** This is the interest from the CCLA Deposit Account and is included in the accounts when receivable. 6 ## **The Parochial Church Council of St Martin’s West Acton** Notes to the financial statements for the year ended 31 December 2020 ## **1.3 Expenditures and Liabilities** **Liabilities:** Liabilities are recognised as soon as there is a legal or constructive obligation and settlement is probable and quantifiable. **Governance Costs:** Include costs of the preparation and examination of statutory accounts, the costs of trustee meetings and cost of any legal advice to trustees on governance or constitutional matters. ## **1.4 Assets** **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. **Moveable Church Furnishings:** These are capitalised at cost and depreciated over their useful economic life other than where insufficient cost information is available. In this case the item is not capitalised, but all items are included in the Church’s inventory in any case. **Tangible Fixed Assets for Use by Charity:** No depreciation is provided on buildings as the currently estimated residual value of the properties is not less than their carrying value and the remaining useful life of these assets currently exceeds 50 years, so that any depreciation charges would be immaterial. An impairment review is carried out on a regular basis and any resultant loss identified included in expenditure for the year. ## **1.5 Funds** **Unrestricted Funds:** These represent the remaining income funds of the PCC that are available for spending on the general purposes of the PCC, including amounts designated by the PCC for fixed assets for its own use or for spending on a future project and which are therefore not included in its ‘free reserves’ as disclosed in the trustees’ report. **Restricted Funds:** These are income funds that must be spent on restricted purposes and details of the funds held and restrictions provided are shown in the notes to the accounts. ## **1.6 Paid Employees** The PCC did not have any paid employees during the year. 7 ## **The Parochial Church Council of St Martin’s West Acton** Notes to the financial statements for the year ended 31 December 2020 |**2. Other Voluntary Receipts**
Back on Track Gift Day
One-off Gifts
Occasional Donations
Couch to 5k
Children’s Society
USPG
Biffa Grant Application Fee
Women's Refuge
Vicar's Discretionary Fund
**3. Fund Raising Receipts**
Christmas Bazaar
Vicar's Discretionary Fund
Bonfire Night
Harvest Lunch
JAC Community Café
Organists' Lunch
Summer Fair
Summer Lunch
Quiz
Candles Sale
Auction
**4. Trading Receipts**
Rental - Hall
Rental - Church
Rental - Parish Room
Magazine|Unrestricted
Funds
**£**
30,736
2,000
7,325
1,052
300|Restricted
Funds
**£**
1,000
73
50
2,000
260|**Total**
**2020**
Total
2019
**£**
£
**30,736**
6,558
**3,000**
26,000
**7,325**
5,335
**1,052**
-
**73**
197
**50**
-
**2,000**
3,515
**260**
-
**300**
-
**44,796**
41,605
**95**
2,168
**43**
84
**-**
80
**-**
130
**-**
237
**-**
291
**-**
1,769
**-**
280
**90**
-
**248**
-
**7,000**
-
**7,476**
5,039
**23,154**
30,733
**2,130**
4,451
**3,575**
3,110
**54**
162
**28,913**
38,456| |---|---|---|---| ||41,413
95
43
90
248
7,000|3,383|| ||7,476
23,154
2,130
3,575
54||| ||28,913||| 8 ## **The Parochial Church Council of St Martin’s West Acton** ## Notes to the financial statements for the year ended 31 December 2020 |**5. Charitable Giving**
Willesden Bishop Fund
St John the Evangelist Wembley Choir
USPG
Children's Society
**6. Missions and Other Funds**
Christians Together in Central Ealing
Worcester Diocesan
Mission and Outreach
Citizens UK
**7. Cost of Fund Raising**
Biffa Grant Application Fee
Christmas Bazaar
Summer Fair
Auction
Summer Fair
**8. Church Running Cost**
Requisites
Organ and Piano Tuning
Flowers
Parish Office
Church and Churchyard Upkeep
Repairs and Maintenance
Utilities
Insurance
Licence and Fees
Sundry|Unrestricted
Funds
**£**
150|Restricted
Funds
**£**
50
73|**Total**
**2020**
Total
2019
**£**
£
**-**
275
**-**
50
**200**
-
**73**
-
**273**
325
**-**
50
**-**
2,000
**-**
110
**1,000**
-
**1,000**
2,160
**-**
3,515
**-**
150
**-**
100
**271**
-
**-**
-
**271**
3,765
**333**
534
**776**
1,187
**-**
18
**3,439**
3,040
**3,719**
1,552
**18,220**
1,914
**8,862**
6,631
**6,047**
5,928
**961**
872
**350**
-
**42,707**
21,676| |---|---|---|---| ||150
1,000|123|| ||1,000
271||| ||271
333
776
3,439
3,719
18,220
8,862
6,047
961
350||| ||42,707||| 9 ## **The Parochial Church Council of St Martin’s West Acton** Notes to the financial statements for the year ended 31 December 2020 |**9. Clergy and Staff Cost**
Clergy Expenses
Organists
Parish Office Administrator
Verger
Vicarage Cost
St Martin's Cottage Cost
Sundry
**10. Governance**
Account Examination Fee
**11. Agency Fees**
Service Fees for LDF
**12. Trading and Hall Cost**
Cleaning
Repairs and Maintenance
Utilities
Refurbishment
Licence and Fees|Unrestricted
Funds
Restricted
Funds
**£**
**£**
208
2,510
11,220
477
3,483
17,898
300
300
747
747
4,325
325
5,648
16,304
20
26,622|**Total**
**2020**
Total
2019
**£**
£
**208**
501
**2,510**
5,760
**11,220**
10,962
**-**
50
**477**
1,972
**3,483**
882
**-**
2,698
**17,898**
22,825
**300**
300
**300**
300
**747**
271
**747**
271
**4,325**
3,400
**325**
3,567
**5,648**
5,669
**16,304**
36,000
**20**
823
**26,622**
49,459| |---|---|---| 10 ## **The Parochial Church Council of St Martin’s West Acton** Notes to the financial statements for the year ended 31 December 2020 |**13. Tangible Fixed Assests**
Balance Brought Forward
Addition
Disposal
Balance Carried Forward
**14. Debtors and Prepayments**
St Martin's Cottage Cost Contributions
Gift Aid Recovered Due From HMRC
Rental - Hall
Rental - Parish Room
**15. Creditors and Accruals**
Unclaimed Expenses
Service Fees for LDF
Account Examination Fee|Unrestricted
Funds
Restricted
Funds
**£**
**£**
Buildings
402,656
402,656
1,424
63
980
2,467
336
5,328
600
6,264|**Total**
**2020**
Total
2019
**£**
£
**Total**
Total
**402,656**
402,656
**-**
-
**-**
-
**402,656**
402,656
**-**
1,368
**1,424**
5,715
**63**
-
**980**
-
**2,467**
7,083
**336**
120
**5,328**
4,581
**600**
300
**6,264**
5,001| |---|---|---| 11 ## **The Parochial Church Council of St Martin’s West Acton** Notes to the financial statements for the year ended 31 December 2020 ## **16. Church Funds** |**Unrestricted Funds**
General
32.5k Fund
Catering for Community
Hall SOS
Designated - St Martin's Music Society
Designated - St Martin's Players
Designated - Vicar's Discretionary Fund
Total Unrestricted Funds
**Restricted Funds**
Children's Society
Diocesan Lent Appeal
Guinea Fund
Missions Fund
Biffa Grant
RNLI
USPG
Women's Refuge
Total Restricted Funds
**Total Church Funds**|Balance
b/f
442,977
25,105
1,677
10,910
79
784
406|Income
159,735
2,000
300|Expenditure
**Balance**
**c/f**
(157,908)
**444,804**
**25,105**
(3,677)
**-**
(10,910)
**-**
**79**
**784**
**706**
(172,495)
**471,478**
(73)
**391**
**80**
**37**
**21,000**
**-**
**30**
(50)
**-**
**260**
(123)
**21,798**
(172,618)
**493,276**| |---|---|---|---| ||481,938
391
80
37
20,000
(24,000)
30|162,035
73
1,000
24,000
50
260|| ||(3,462)
478,476|25,383
187,418|| 12 ## **The Parochial Church Council of St Martin’s West Acton** ## Independent Examiner's Report to the Trustees / Members I report on the financial statements for the year ended 31 December 2020 which are set out on pages 4 to 12. ## **Respective Responsibilities of Trustees and Examiner** The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (“the Charities Act”) and that an independent examination is needed. It is my responsibility to: - examine the accounts under section 145 of the Charities Act, - to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and - to state whether particular matters have come to my attention. ## **Basis of Independent Examiner’s Statement** My examination was carried out in accordance with 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 the trustees 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 Examiner's Statement** In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect: - the accounting records were not kept in accordance with section 130 of the Charities Act; or - • the accounts did not accord with the accounting records; or - the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination. I have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. ___________________________________ Mr Amandeep S Bhogal 56 Scarle Road Wembley Middlesex HA0 4SN 19 April 2021 13 ## **Parish of St Martin’s West Acton** ## **Parish Reference: 22.14** ## **Registered Charity No: 1132976** ## **Financial Statements of the Parochial Church Council** **for the year ended 31 December 2020** ## **Parish of St Martin’s West Acton Hale Gardens, London, W3 9SQ** Parish Reference: 22.14 Registered Charity No: 1132976 (Registered as The Parochial Church Council of the Ecclesiastical Parish of St Martin, West Acton) Website: www.stmartinswestacton.co.uk Email: stmartins@stmartinswestacton.com ## **Incumbent:** Rev’d Julia Palmer Parish Office Rear of church hall Hale Gardens London W3 9SQ ## **Bank:** HSBC 31 Holborn Holborn Circus London EC1N 2HR ## **Deposit Account:** CCLA Investment Management Ltd CBF Church of England Funds Senator House 85 Queen Victoria Street London EC4V 4ET ## **Independent Examiner:** Mr Amandeep Singh Bhogal 56 Scarle Road Wembley Middlesex HA0 4SN ## **The Parochial Church Council of St Martin’s West Acton** Treasurer’s Report for the year ended 31 December 2020 ## **Introduction** I present the Treasurer’s Report for the year ended 31 December 2020. On behalf of the PCC, I would like to thank each and every one of you for the wonderful financial support you have given to the church during these extremely challenging times. At the time of writing, it has been almost 15 months since COVID-19 started to spread in the UK and more than a year through the intermittent lockdowns. As the church was closed for about half of 2020, our finance was significantly impacted as we lost the rental incomes and church collections. We were forecasting a deficit in day to day running costs of more than £30,000 for the year in June 2020. Faced with this challenge, the PCC put together an urgent “Back on Track” appeal which was launched during late Summer 2020. With God’s help, and your enormous generosity, at the year-end we ended up with £14,800 surplus. This was an amazing achievement. It has not only helped us to get through 2020, but also put us in a much stronger financial position to deal with the challenges in 2021. As we gradually ease back to normality with the effect of vaccination taking hold in the community, I look forward to seeing our church opens to the public once again; and I am excited for the opportunities that St Martin’s can contribute to help develop the spiritual wellbeing of the wider community. **----- Start of picture text -----**
Income Investment
Income
Fund
0%
Raising
Receipts
4%
Agency & Trading
PCC Fees Receipts Planned
1% 15% Giving
Other
27%
Grant Giving
Received - 4%
Restricted
Grant 12% Loose
Other
Received Gift Aid Collections
0% Recovered Voluntary - Junior
Other 13% Receipts Church
22%
Voluntary 0%
Receipts -
Restricted
2%
**----- End of picture text -----**
## **Increase in Income from Donation and Legacies** Despite losing almost half of the income from church collections due to the lockdowns, the income form total donations and legacies increased by £11,278 (10%) to £126,941 in 2020. This was mainly driven by the success of the Back on Track appeal which raised more than £30,000 (excluding Gift Aid Recovered) on the Gift Day alone. In addition, there was a 12% increase in Planned Giving leading to the breakthrough of £50,000 benchmark for the first time. ## **Income from Charitable and Trading Activities** The bulk of income from charitable activities was the outstanding Biffa grant for the hall refurbishment carried out in 2019 and early 2020. While the Trading Receipts from rentals were decreased as a consequence of the lockdowns, Fund Raising Receipts were outstanding with the phenomenally popular first ever auction raising £7,000 within 2 hours. 1 ## **The Parochial Church Council of St Martin’s West Acton** Treasurer’s Report for the year ended 31 December 2020 ## **Expenditure** **----- Start of picture text -----**
Agency Fees
0.4%
Trading & Hall
Cost
Governance 15.4%
0.2%
Clergy & Staff
Cost
Common Fund
10.4%
48.0%
Church Running
Cost
24.7%
Charitable
Missions & Giving 0.2%
Cost of Fund Other Funds
Raising 0.2% 0.6%
**----- End of picture text -----**
## **All types of Expenditure remained broadly unchanged except for the Church Running and Trading and Hall Costs** Church Running Cost (Note 8): - (i) Church and Churchyard Upkeep – Included £1,896 one-off cost for returfing the lawn - (ii) Repairs and Maintenance – Included £15,523 one-off cost for rewiring the whole church - (iii) Sundry – Included £350 one-off cost for streaming equipment Trading and Hall Cost (Note 12): - (i) Cleaning – Increased due to additional cleaning to prevent COVID-19 (ii) Refurbishment – Final payment of £16,304 for new glazed entrance ## **The Common Fund remained the biggest expenditure item** Our contribution to the Common Fund remained at £82,800 following an agreement with the Diocesan of London to hold our contribution at 2019 level. This was about 48% of total expenditure (60% of recurring expenditure). As an ongoing commitment, there remained a “Commitment Gap” in spite of the increase in Planned Giving. ## **Repayments for London Diocesan Fund Loan started in September 2019** £4,992 of the loan was repaid in 2020. The total repayment due in 2021 would be £4,992. This was an interest free loan repayable over 4 years with repayment starting from 1 year after drawn down. As we drew down the loan in August 2018, the loan would be fully repaid by September 2023. 2 ## **The Parochial Church Council of St Martin’s West Acton** Treasurer’s Report for the year ended 31 December 2020 ## **Result for the year** The consolidated increase in funds for the year was £14,800 (2019: £11,807 decrease) of which £10,460 deficit was attributable to unrestricted funds and £25,260 surplus to restricted funds. This surplus was caused by the delay in receiving the remaining £24,000 Biffa grant from 2019 to 2020. ## **Going Concern** We expect the income from donation and rental to remain at a reduced level in 2021 due to COVID-19. Our 2021 budget projected a deficit of just over £10,000 for the year ended 31 December 2021. As the main cost being our pledge to the London Diocesan Common Fund, the PCC has agreed with the Diocese that we would commit to two thirds of the full amount. Furthermore, with the receipt of an one-off donation of £15,000 recently, the PCC now expects a modest surplus for the year ended 31 December 2021. As a result, they have adopted the going concern basis of accounting. ## **Reserves policy** The PCC’s reserves policy is to maintain sufficient free reserves (if possible), which equates to approximately six months’ unrestricted payments, to cover emergency situations that may arise from time to time. 3 ## **The Parochial Church Council of St Martin’s West Acton** ## Statement of Financial Activities for the year ended 31 December 2020 |Notes
**Income from Donations and Legacies**
Planned Giving
Other Giving
Loose Collections - Junior Church
Other Voluntary Receipts
2
Gift Aid Recovered
**Income from Charitable Activities**
Grant Received
PCC Fees
Agency Fees
**Income from Other Trading Activities**
Fund Raising Receipts
3
Trading Receipts
4
**Investment and Other Income**
Deposit Interest Received
**Total Incoming Resources**
**Expenditure**
Common Fund
Charitable Giving
5
Missions and Other Funds
6
Cost of Fund Raising
7
Church Running Cost
8
Clergy and Staff Cost
9
Governance
10
Agency Fees
11
Trading and Hall Cost
12
**Total Expenditure**
**Net Movement**
Fund Balance as at 1 January 2020
**Fund Balance as at 31 December 2020**|Unrestricted
Funds
**£**
50,003
7,778
170
41,413
24,194|Restricted
Funds
**£**
3,383|**Total**
**2020**
Total
2019
**£**
£
**50,003**
**44,568**
**7,778**
**12,049**
**170**
**803**
**44,796**
**41,605**
**24,194**
**16,638**
**126,941**
115,663
**22,750**
12,000
**588**
339
**747**
271
**24,085**
12,610
**7,476**
5,039
**28,913**
38,456
**36,389**
43,495
**3**
6
**3**
6
**187,418**
171,774
**82,800**
82,800
**273**
325
**1,000**
2,160
**271**
3,765
**42,707**
21,676
**17,898**
22,825
**300**
300
**747**
271
**26,622**
49,459
**172,618**
183,581
**14,800**
**478,476**
**493,276**| |---|---|---|---| ||123,558
750
588
747|3,383
22,000|| ||2,085
7,476
28,913|22,000
25,383
123|| ||36,389
3||| ||3
162,035
82,800
150
1,000
271
42,707
17,898
300
747
26,622||| ||172,495
(10,460)
481,938|123
25,260
(3,462)|| ||471,478|21,798|| The notes on Page 6 to 12 form part of these financial statements. 4 ## **The Parochial Church Council of St Martin’s West Acton** ## Balance Sheet as at 31 December 2020 |Notes
**Fixed Assets**
Tangible Fixed Assest: Buildings
13
**Current Assets**
Debtors and Prepayments
14
Cash at Bank
Cash at CCLA Deposit Account
Cash in Hand
**Current Liabilities**
LDF Loan Due Within 1 Year
Creditors and Accruals
15
**Net Current Assets / (Liabilities)**
**Long Term Liabilities**
LDF Loan Due After More Than 1 Year
**Net Assets / (Liabilities)**
**Funds**
Unrestricted Funds
16
Restricted Funds
16
**Fund Balance as at 31 December 2019**|**£**
**2,467**
**106,945**
**744**
**40**|**Total**
**2020**
Total
2019
**£**
£
**402,656**
402,656
7,083
91,268
741
34
**110,196**
99,126
4,992
**11,256**
5,001
**98,940**
89,133
**8,320**
13,313
**493,276**
478,476
**471,478**
481,938
**21,798**
(3,462)
**493,276**
478,476| |---|---|---| ||4,992
6,264|| The notes on Page 6 to 12 form part of these financial statements. Approved by the Parochial Church Council on 19 April 2021 and signed on their behalf by the Chairperson, Rev’d Julia Palmer, and the Treasurer, Mr Kenneth Chan. ___________________________________ Rev’d Julia Palmer Chairperson ___________________________________ Mr Kenneth Chan Treasurer 5 ## **The Parochial Church Council of St Martin’s West Acton** Notes to the financial statements for the year ended 31 December 2020 ## **1 Basis of Preparation** These financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these financial statements. The financial statements have been prepared under the Charities Act 2011 and in accordance with the Church Accounting Regulations 2006 governing the individual accounts of Parochial Church Councils, and with the Regulations’ “true and fair view” provisions, together with FRS 102 (2016) as the applicable accounting standards and the 2016 version of the Statement of Recommended Practice: Accounting and Reporting by Charities (FRS 102 SORP). The Parochial Church Council of St Martin’s West Acton (PCC) constitutes a public benefit entity as defined by FRS 102. There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 or FRS 102 SORP. ## **1.1 Income** Incoming resources are included in the Statement of Financial Activities (SoFA) when the PCC becomes entitled to the resources; it is more likely than not that the trustees will receive the resources; and the monetary value can be measured with sufficient reliability. ## **1.2 Recognition of Income and Endowments** **Fundraising Costs:** Funds raised from events and trading activities, e.g. Summer Fair and Christmas Bazaar, are reported gross in the SoFA – i.e. before any related costs that may have been deducted from the gross proceeds. **Grants and Donations:** Grants and donations are included in the SoFA when any pre-conditions preventing their use by the PCC have been met. For collections and planned giving this is when the funds are received. **Tax reclaims on Donations and Gifts:** Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise. **Volunteer Help:** The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report. **Rental Income:** Rental income from the letting of the church is recognised when the rental is due. **Investment Income:** This is the interest from the CCLA Deposit Account and is included in the accounts when receivable. 6 ## **The Parochial Church Council of St Martin’s West Acton** Notes to the financial statements for the year ended 31 December 2020 ## **1.3 Expenditures and Liabilities** **Liabilities:** Liabilities are recognised as soon as there is a legal or constructive obligation and settlement is probable and quantifiable. **Governance Costs:** Include costs of the preparation and examination of statutory accounts, the costs of trustee meetings and cost of any legal advice to trustees on governance or constitutional matters. ## **1.4 Assets** **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. **Moveable Church Furnishings:** These are capitalised at cost and depreciated over their useful economic life other than where insufficient cost information is available. In this case the item is not capitalised, but all items are included in the Church’s inventory in any case. **Tangible Fixed Assets for Use by Charity:** No depreciation is provided on buildings as the currently estimated residual value of the properties is not less than their carrying value and the remaining useful life of these assets currently exceeds 50 years, so that any depreciation charges would be immaterial. An impairment review is carried out on a regular basis and any resultant loss identified included in expenditure for the year. ## **1.5 Funds** **Unrestricted Funds:** These represent the remaining income funds of the PCC that are available for spending on the general purposes of the PCC, including amounts designated by the PCC for fixed assets for its own use or for spending on a future project and which are therefore not included in its ‘free reserves’ as disclosed in the trustees’ report. **Restricted Funds:** These are income funds that must be spent on restricted purposes and details of the funds held and restrictions provided are shown in the notes to the accounts. ## **1.6 Paid Employees** The PCC did not have any paid employees during the year. 7 ## **The Parochial Church Council of St Martin’s West Acton** Notes to the financial statements for the year ended 31 December 2020 |**2. Other Voluntary Receipts**
Back on Track Gift Day
One-off Gifts
Occasional Donations
Couch to 5k
Children’s Society
USPG
Biffa Grant Application Fee
Women's Refuge
Vicar's Discretionary Fund
**3. Fund Raising Receipts**
Christmas Bazaar
Vicar's Discretionary Fund
Bonfire Night
Harvest Lunch
JAC Community Café
Organists' Lunch
Summer Fair
Summer Lunch
Quiz
Candles Sale
Auction
**4. Trading Receipts**
Rental - Hall
Rental - Church
Rental - Parish Room
Magazine|Unrestricted
Funds
**£**
30,736
2,000
7,325
1,052
300|Restricted
Funds
**£**
1,000
73
50
2,000
260|**Total**
**2020**
Total
2019
**£**
£
**30,736**
6,558
**3,000**
26,000
**7,325**
5,335
**1,052**
-
**73**
197
**50**
-
**2,000**
3,515
**260**
-
**300**
-
**44,796**
41,605
**95**
2,168
**43**
84
**-**
80
**-**
130
**-**
237
**-**
291
**-**
1,769
**-**
280
**90**
-
**248**
-
**7,000**
-
**7,476**
5,039
**23,154**
30,733
**2,130**
4,451
**3,575**
3,110
**54**
162
**28,913**
38,456| |---|---|---|---| ||41,413
95
43
90
248
7,000|3,383|| ||7,476
23,154
2,130
3,575
54||| ||28,913||| 8 ## **The Parochial Church Council of St Martin’s West Acton** ## Notes to the financial statements for the year ended 31 December 2020 |**5. Charitable Giving**
Willesden Bishop Fund
St John the Evangelist Wembley Choir
USPG
Children's Society
**6. Missions and Other Funds**
Christians Together in Central Ealing
Worcester Diocesan
Mission and Outreach
Citizens UK
**7. Cost of Fund Raising**
Biffa Grant Application Fee
Christmas Bazaar
Summer Fair
Auction
Summer Fair
**8. Church Running Cost**
Requisites
Organ and Piano Tuning
Flowers
Parish Office
Church and Churchyard Upkeep
Repairs and Maintenance
Utilities
Insurance
Licence and Fees
Sundry|Unrestricted
Funds
**£**
150|Restricted
Funds
**£**
50
73|**Total**
**2020**
Total
2019
**£**
£
**-**
275
**-**
50
**200**
-
**73**
-
**273**
325
**-**
50
**-**
2,000
**-**
110
**1,000**
-
**1,000**
2,160
**-**
3,515
**-**
150
**-**
100
**271**
-
**-**
-
**271**
3,765
**333**
534
**776**
1,187
**-**
18
**3,439**
3,040
**3,719**
1,552
**18,220**
1,914
**8,862**
6,631
**6,047**
5,928
**961**
872
**350**
-
**42,707**
21,676| |---|---|---|---| ||150
1,000|123|| ||1,000
271||| ||271
333
776
3,439
3,719
18,220
8,862
6,047
961
350||| ||42,707||| 9 ## **The Parochial Church Council of St Martin’s West Acton** Notes to the financial statements for the year ended 31 December 2020 |**9. Clergy and Staff Cost**
Clergy Expenses
Organists
Parish Office Administrator
Verger
Vicarage Cost
St Martin's Cottage Cost
Sundry
**10. Governance**
Account Examination Fee
**11. Agency Fees**
Service Fees for LDF
**12. Trading and Hall Cost**
Cleaning
Repairs and Maintenance
Utilities
Refurbishment
Licence and Fees|Unrestricted
Funds
Restricted
Funds
**£**
**£**
208
2,510
11,220
477
3,483
17,898
300
300
747
747
4,325
325
5,648
16,304
20
26,622|**Total**
**2020**
Total
2019
**£**
£
**208**
501
**2,510**
5,760
**11,220**
10,962
**-**
50
**477**
1,972
**3,483**
882
**-**
2,698
**17,898**
22,825
**300**
300
**300**
300
**747**
271
**747**
271
**4,325**
3,400
**325**
3,567
**5,648**
5,669
**16,304**
36,000
**20**
823
**26,622**
49,459| |---|---|---| 10 ## **The Parochial Church Council of St Martin’s West Acton** Notes to the financial statements for the year ended 31 December 2020 |**13. Tangible Fixed Assests**
Balance Brought Forward
Addition
Disposal
Balance Carried Forward
**14. Debtors and Prepayments**
St Martin's Cottage Cost Contributions
Gift Aid Recovered Due From HMRC
Rental - Hall
Rental - Parish Room
**15. Creditors and Accruals**
Unclaimed Expenses
Service Fees for LDF
Account Examination Fee|Unrestricted
Funds
Restricted
Funds
**£**
**£**
Buildings
402,656
402,656
1,424
63
980
2,467
336
5,328
600
6,264|**Total**
**2020**
Total
2019
**£**
£
**Total**
Total
**402,656**
402,656
**-**
-
**-**
-
**402,656**
402,656
**-**
1,368
**1,424**
5,715
**63**
-
**980**
-
**2,467**
7,083
**336**
120
**5,328**
4,581
**600**
300
**6,264**
5,001| |---|---|---| 11 ## **The Parochial Church Council of St Martin’s West Acton** Notes to the financial statements for the year ended 31 December 2020 ## **16. Church Funds** |**Unrestricted Funds**
General
32.5k Fund
Catering for Community
Hall SOS
Designated - St Martin's Music Society
Designated - St Martin's Players
Designated - Vicar's Discretionary Fund
Total Unrestricted Funds
**Restricted Funds**
Children's Society
Diocesan Lent Appeal
Guinea Fund
Missions Fund
Biffa Grant
RNLI
USPG
Women's Refuge
Total Restricted Funds
**Total Church Funds**|Balance
b/f
442,977
25,105
1,677
10,910
79
784
406|Income
159,735
2,000
300|Expenditure
**Balance**
**c/f**
(157,908)
**444,804**
**25,105**
(3,677)
**-**
(10,910)
**-**
**79**
**784**
**706**
(172,495)
**471,478**
(73)
**391**
**80**
**37**
**21,000**
**-**
**30**
(50)
**-**
**260**
(123)
**21,798**
(172,618)
**493,276**| |---|---|---|---| ||481,938
391
80
37
20,000
(24,000)
30|162,035
73
1,000
24,000
50
260|| ||(3,462)
478,476|25,383
187,418|| 12 ## **The Parochial Church Council of St Martin’s West Acton** ## Independent Examiner's Report to the Trustees / Members I report on the financial statements for the year ended 31 December 2020 which are set out on pages 4 to 12. ## **Respective Responsibilities of Trustees and Examiner** The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (“the Charities Act”) and that an independent examination is needed. It is my responsibility to: - examine the accounts under section 145 of the Charities Act, - to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and - to state whether particular matters have come to my attention. ## **Basis of Independent Examiner’s Statement** My examination was carried out in accordance with 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 the trustees 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 Examiner's Statement** In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect: - the accounting records were not kept in accordance with section 130 of the Charities Act; or - • the accounts did not accord with the accounting records; or - the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination. I have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. ___________________________________ Mr Amandeep S Bhogal 56 Scarle Road Wembley Middlesex HA0 4SN 19 April 2021 13