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2021-12-31-accounts

BROMLEY PARISH CHURCH

( St. Peter and St. Paul, Church Road, Bromley, BR2 0EG)

TRUSTEES’ REPORT and UNAUDITED FINANCIAL STATEMENTS

THE PAROCHIAL CHURCH COUNCIL of the ECCLESIASTICAL PARISH of St. PETER & St. PAUL BROMLEY

Registered Charity No. 1133131

For the year ended 31 December 2021

Incumbent: The Revd. James Harratt

Contents Page
Annual Report and Review of the PCC 1-7
Independent Examiner’s Report 8
Statement of Financial Activities 9
Balance Sheet 10
Statement of cash flow 11
Notes to the Financial Statements
 12-24

Trustees’ Report and Financial Statements for the year ended 31[st] December 2021: The Parochial Church Council of the Ecclesiastical Parish of St. Peter and St. Paul Bromley

Reference and administrative information Registered Office: Church Office Bromley Parish Church Church Road Bromley BR2 0EG

Incumbent: The Revd. James Harratt (Chairman) Bank: HSBC Bank plc Solicitors: Winckworth Sherwood 184 High Street 16 Beaumont Street Bromley Oxford BR1 1HE OX1 2LZ Independent Examiner: RSM UK Tax and Accounting Limited Davidson House Forbury Square Reading RG1 3EU

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

Ex Officio Incumbent The Revd. James Harratt Ministry team The Revd. Sophie Sutherland Reader Representative Peter Cheshire Churchwardens Martin Cleveland, Jane Cleveland Deanery Synod Members Jonathan Hutton Mike Hodge Elected Members Mark Beacon Lisa Berry# Becky Chantry Lynn Hedges Anne Horner-Tree Duncan McGill Davina Pike* Tim Pike Frank Roddy

Co-opted Members Sue Cox

until Annual Parochial Church Meeting * from APCM

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Trustees’ Report for the year ended 31[st] December 2021

Structure, governance and management

The Parochial Church Council is a corporate body established by the Church of England. Following changes introduced by the Charities Act 2006, it submitted an application for registration as a Charity to the Charity Commission on 22[nd] July 2009. This was approved on 4[th] December 2009, charity registration number 1133131.

The function and purpose of the PCC is outlined in the Parochial Church Councils (Powers) Measure 1956. The PCC has adopted a draft constitution drawn up by the Diocese and based on a model trust deed provided by the Charity Commission.

Members of the PCC are either ex-officio or elected by the Annual Parochial Church Meeting (APCM) in accordance with the Church Representation Rules 2020. Induction and training for members are provided both individually and collectively. The main approach is through the agenda of normal-course PCC meetings and committees focused on specific areas – for example by encouraging members with expertise in a particular topic or issue to take the lead. This is supplemented by opportunities for individual training where appropriate. In complex fields such as Child Protection a leader may be appointed who is not a member, but who works closely with the PCC as both advisor and leader.

Much of the work of the PCC is carried out through a set of committees, to whom authority is delegated within defined guidelines and who report back as appropriate. The PCC is represented on each committee by one or more individual members. The principal committees of the PCC in 2021 were the Standing & Finance Committee, Children & Young People’s Committee, Premises Committee, Church Rooms & Youth Centre Committee, and Outreach Committee. Additionally, ad hoc committees or working groups may be set up to lead such projects as determining a strategy for the Youth Centre and completing improvements to audio-visual support in the church. The Ministry Team and Pastoral group also meet regularly and liaise with the PCC.

All church attendees are encouraged to register on the Electoral Roll and consider standing for election on the PCC or serving on one of its committees.

Bromley Parish Church is part of the Deanery of Bromley and Archdeaconry of Bromley and Bexley, and is a member organisation of Churches Together in Central Bromley. It works closely with these bodies on matters of common interest. The PCC considers its Board of Trustees to be its Key Management Personnel. None of these members receive remuneration as trustees, and therefore there is no pay policy set.

Objectives of the charity

The incumbent and the PCC are responsible in the ecclesiastical parish for promoting the whole mission of the Church – spiritual, pastoral, evangelistic and ecumenical. They also have maintenance responsibilities for the church premises (including the Church Rooms and the Youth Centre) and other properties owned by the church, whether to provide residential accommodation, to generate income or to support BPC’s aims in other ways. Some examples of the ways these responsibilities are carried out are: ensuring that regular public worship is open to all; providing sacred space for personal prayer and contemplation; pastoral work, including visiting the sick and the bereaved; teaching of Christianity through sermons, courses and small groups; leading collective worship in schools; providing activities with a Christian ethos for young people; promoting Christianity through the staging of events and meetings and the distribution of literature; promoting the whole mission of the Church through the provision of activities for senior citizens, parents and toddlers, and special need groups; supporting groups with specific needs, both within the parish and more widely; supporting other charities in the UK and overseas.

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The main activities of BPC are the provision of church services (including baptisms, weddings and funerals), youth and children’s work, and teaching adults through such activities as regular home groups.

Policies for making grants and donations are approved formally by the PCC. A proportion of BPC’s income is given to a small number of nominated charities agreed with members of the congregation. From time to time one-off donations are made, following discussion of a formal proposal at PCC meetings. Such donations are often made from the proceeds of special events.

Following a year dominated by the impact of the Covid-19 pandemic, it became increasingly apparent that life for BPC would continue to be uncertain for the foreseeable future, and that specific activities would have to be planned both in the light of national regulations and with the safety of members and employees as a major priority. Planning of longer-term developments was difficult, but life under the pandemic in 2020 had provided an opportunity for BPC to reflect on its own strengths and opportunities in the face of growing needs of the wider community. In this context the immediate aim for 2021, within the confines of wider restrictions and regulations, was to do everything possible to offer worship and fellowship to existing members. As in the previous year a main objective was to find ways in which members could provide mutual companionship and practical help, while still aiming to provide forms of spiritual enrichment and learning which were perhaps needed even more strongly in a period of continuing difficulty. More widely, the growing needs of the wider community provided an important focus. It was recognised that, unlike many other churches in the area, BPC had relatively strong resources, both financially and in other respects, and there was an opportunity to utilise these to underpin its mission, particularly to support the disadvantaged at a time when support from elsewhere was becoming more limited. Underpinning these priorities, the increasing national concern for environmental and ethical issues was recognised, and it was agreed that they should be taken strongly into account in developing plans and activities for 2021.

Volunteers

In carrying out its activities the PCC is grateful for the work of unpaid volunteers from the congregation. Such support includes accredited lay ministers and other specialist roles which range from working with children and providing pastoral support for church members to fund-raising controlled by the Fair Shares Secretary. Beyond this a wide range of individuals give their time and skills without financial gain to further the work of the charity, partly through committees and organisations under the auspices of the PCC and also via day-to-day support on an ad hoc basis. Existing and new members are encouraged to provide support for such activities.

Safeguarding and privacy

Safeguarding and safe recruitment of both staff and volunteers are paramount in BPC’s approach to carrying out its mission. The PCC is fully committed to ensuring that our church and related premises are safe places for all who use them, including children and vulnerable adults, with separate representatives being appointed for each sector as well as an overall Safeguarding Officer. At the beginning of each year PCC members affirm their commitment to the House of Bishops’ safeguarding policies and good practice guidance. Safeguarding now appears as a regular item on PCC agendas. In line with Diocesan policy all PCC members have undertaken safeguarding training to the appropriate level, and DBS checks are carried out in line with regulations for all PCC members. The charity is thus fully compliant with Diocesan safeguarding requirements.

BPC is aware of its responsibilities in holding a range of personal information and, following a comprehensive review in 2018, steps were taken to ensure compliance with GSPR legislation across all its activities. Likewise, the importance of physical health and safety needs plays a vital role in everything done at BPC: a Health and Safety Officer takes a strong and proactive role in working with the PCC and specific committees to ensure that compliance is maintained, with any new issues being identified and addressed.

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Achievements and performance

Membership and Church attendance:

At the time of the 2021 APCM there were 122 members on the Electoral Roll, unchanged from the previous year’s figure. The 10.30 Parish Eucharist on Sundays remained the main service for most members: attendance in church during 2021 was understandably variable because of the Covid-19 pandemic, but was supplemented throughout the year by many members participating virtually through the streaming of services. Other services attracted smaller attendances but remained a key part of BPC life.

Review of the year:

The full PCC met 6 times during the year, with an average attendance of 12. All meetings apart from that in November were held via Zoom, to enable business to continue despite the pandemic. The sub-committees met as required between full meetings, minutes being presented to the PCC for discussion where necessary and formal adoption.

With the pandemic continuing, the entire year was dominated by restrictions similar to those experienced in 2020. Again this meant that longer-terms plans had to be subsumed to the demands of maintaining short-term continuity in as much of church life as possible. The focus was on attempting under challenging conditions to support church members and people in the wider community who were facing continued difficulties . However, the experience gained during 2020 of operating under varying levels of restriction proved invaluable, and as the restrictions were eased somewhat during the summer and early autumn some level of normality was achieved, albeit on a temporary basis. Some longer-term planning became possible during the latter part of the year, to provide a basis for aspects of future development. The PCC was guided in its work by the initial findings of the Parish Survey carried out in early 2020, and also by increasing awareness of levels of hardship in the local community and beyond, together with environmental and ethical issues. The following sections use a framework based on the survey findings and wider issues to show some of the highlights of another difficult and uncertain year:

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bags to all members on major festivals was again well-received. However, even when the church reopened, limitations on indoor mixing delayed the resumption of activities and events for particular BPC organisations, and also of concerts and recitals. The easing of these restrictions in the autumn, allowing the return of meetings of Fellowship, of after-service refreshments and of congregational singing was therefore particularly welcomed by members.

The survey had also identified that many members felt the need for wider opportunities for personal spiritual development, beyond that offered by regular Sunday worship. Despite the immediate difficulties of lockdown, efforts were made during the year to start to respond to these needs, across the whole range of BPC membership. For children and young people these centred around such activities as Family Breakfast Club and many craft activities, which returned to a face-to-face basis later in the year. Toddler praise returned to the church from June. For adults the CTCB Lent course formed the basis of learning opportunities, and within Sunday services there was a departure from the Lectionary during the autumn to enable congregations to focus on Pastoral Principles under the banner of Living in Love and Faith. BPC also continues to encourage regular meetings of home groups where possible.

As ever, the PCC is grateful for the help provided by so many members of the congregation, who serve on committees, participate in a wide range of organisations, give financial support and attend services and events. Sadly, we mourned the deaths of some loyal and long-standing members: we remember particularly Jean Brown, Julia Dudman, the Revd. Dr Anne Townsend from the Ministry Team and Matthew Young, a former churchwarden and a very active member of the BPC community. The year also marked the passing at the age of 100 of a former member Constance Bradshaw.

Financial Review

Financial Management Policies

The PCC's finances are dealt with through a number of HSBC and Metro bank accounts covering the running of the Church, Church Rooms, Youth Centre, St Paul's House and other organisations. In addition, funds are held with Shawbrook Bank, Nationwide and the Diocese for savings, legacies, and repair reserves for the Church, Church Rooms, Youth Centre and St Paul's House rental Income. The PCC has approved an ethical Investment Policy which will permit the Church to make a wider range of investments to derive the best financial return within an acceptable level of risk and for long term reserves to generate a return in excess of inflation to support the ongoing activities of the church, whilst taking an ethical approach.

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Accounts

The Accounts for 2021 are presented from page 8 onwards in accordance with the Church Accounting Regulations 2006. The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published on 16 July 2014.

During 2021, the income and endowments, including charitable activities, of £223,602 showed a decrease of £36,359 as compared with £259,961 in 2020. The decrease has been driven by timing around our income from St Paul’s House; falls in income from the Rooms and youth Centre; no income from the property at Homesdale Road as we move towards a partnership with Hope into Action; and that in 2020 we received a one-off £10.4k in relation to a lease extension.

The total expenditure in 2021 of £248,865 shows a decrease of £6,389 as compared with 2020. This reduction was due in part to a reduction in Church repairs and maintenance, following work on the Bell Tower in 2019, along with similar reductions in repair costs to the Rooms and Youth Centre. These reductions were partly offset by an increase in Away Giving following a decision by the PCC to donate £5,000 to the DEC Afghanistan appeal. Before unrealised investment gains a loss of £25,263 was made in 2021. Unrealised investment gains amounted to £45,379, compared to a gain of £5,741 in 2020 and so the net gain recorded in 2021 amounts to £20,116.

Public Benefit

From the review of the activities, the trustees feel that they have demonstrated how they have complied with their duties as set out in S4 of the Charities Act 2006, to have regard to guidance published by the Charity Commission on the operation of the charity for public benefit.

Reserves Policy

It is the PCC’s policy to maintain a balance on unrestricted funds (if possible), which equates to the higher of at least three months unrestricted payments, equivalent to £62,000 in 2021, or £50,000, to cover emergency situations which may arise from time to time. The balance of £162,445 held on unrestricted funds, after designations and excluding legacies, at the year-end exceeded this target. Cash balances at the end of 2021 amounted to £511,247, just under a £20,000 increase on 2020, due to a higher level of creditors at year end. The total reserves held at year end amounted to £1,340,722, of which £267,606 comprised our property revaluation reserves. Restricted and endowed funds amounted to £13,680. Of the designated reserves, unspent legacies amounted to £209,240 and £39,550 was held in the Driscoll Sandford fund, with other designated amounts being set aside for Parochial Organisations and Repair Reserves for the Church and other buildings.

Plans for 2022

With pandemic conditions still dominating the country in the early weeks of 2022, it is difficult to make detailed plans for the coming year. However, experiences during the pandemic and decisions taken in recent months have helped to lay a basis for a way forward for BPC itself and its position in the wider community. As conditions ease the aim will be return to ‘normal’ as closely and quickly as possible, but with safety remaining the priority. Examples of plans already in hand include a confirmation service in May, hosting of the Schools Festival in June and a visit in February from the Archdeaconry Growth Enabler, to discuss hopes for the future direction of the church.

Financial pressures are likely to continue, but BPC is fortunate to have a relatively sound underlying position to help it achieve its wider aims. A decision was taken in 2020 to fund the Anna Chaplain position, supporting work with the older members of the church, for a further 3 years; during the coming year the potential recruitment of a Children and Families worker will be re-visited, to enable work with younger members of the community to be

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expanded. The focus on development of facilities within and outside the church will continue, with investment in refurbishment of the structure on the south wall a key priority. Work on maintaining the standards of other properties in BPC’s care will continue. The major investment already mentioned in development of the Youth Centre, together with the planned link with Hope Into Action, will enable the church to play a more significant part in supporting some of the neediest members of the local community, and this will be supplemented by charitable giving in support of wider needs. Overall, despite a further year of uncertainty and widespread concern, this remains a time when BPC can still look forward positively to continuing its mission in a fastchanging world.

Approved by the PCC on …. March 2022 and signed on their behalf by James Harratt (Chairman)

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INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST.PETER AND ST.PAUL, BROMLEY

I report to the trustees on my examination of the financial statements of The Parochial Church Council of the Ecclesiastical Parish of St.Peter and St.Paul, Bromley (‘the charity’) for the year ended 31 December 2021, which are set out on pages 9 to 24.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the 2011 Act’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145 (5)(b) of the 2011 Act.

An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently, I express no opinion as to whether the accounts present a ‘true and fair view’ and my report is limited to those specific matters set out in the independent examiner’s statement.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me reasonable cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do 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 no concerns and 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.

Signed: Name: Kerry Gallagher FCA DChA

The Institute of Chartered Accountants in England and Wales

ON BEHALF OF RSM UK TAX AND ACCOUNTING LIMITED Chartered Accountants Davidson House Forbury Square Reading RG1 3EU

Date: ………………………..

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PETER & ST PAUL, BROMLEY

STATEMENT OF FINANCIAL ACTIVITIES (including income and expenditure account)

For the year ended 31 December 2021

Note
Income and endowments from:
Donations and legacies
2
Charitable activities
2
Other trading activities
2
Investments
2
Total
Expenditure on:
Raising Funds
3
Charitable activities
4
Total
Net gains/(losses) on investments
Net (expenditure)/income
Transfers between funds
Net movement in funds
Reconciliation of funds:
Total funds brought forward at 1 January
Total funds carried forward at 31 December		 General
Funds
£
84,038
835
11,038
122,903
218,814
37,024
184,442
221,466
44,734
42,082
(14,574)
27,508
1,299,534
1,327,042		 Restricted Restricted Endowment
TOTAL
TOTAL
Funds
2021
2020
£
£
£
-
88,754
87,626
-
835
1,909
-
11,038
21,077
64
122,975
149,349
64
223,602
259,961
-
37,024
41,756
642
211,841
213,498
642
248,865
255,254
645
45,379
5,741
67
20,116
10,448
-
-
-
67
20,116
10,448
6,223 1,320,606 1,310,158
6,290 1,340,722 1,320,606		 TOTAL TOTAL
Funds
£
4,716
-
-
8
4,724
-
26,757
26,757
-
(22,033)
14,574
(7,459)
14,849
7,390		 2020

These unaudited financial statements have been subject to independent examination. See report on page 8.

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PETER & ST PAUL, BROMLEY

BALANCE SHEET

As at 31 December 2021

FIXED ASSETS
Tangible assets
Investment property
Investments
CURRENT ASSETS
Repair Provisions
Debtors
Cash at bank and in hand
LIABILITIES: AMOUNTS FALLING
DUE WITHIN 1 YEAR
Creditors and accruals
NET CURRENT ASSETS
NET ASSETS
FUNDS
Unrestricted
General
Designated
Legacies
Restricted
Endowment		 Note
6(a)
6(b)
6(c)
7(a)
7(b)
8
10,11
10,11
10,11
10,11
10,11		 2021
2021
2020
2020
£
£
£
£
290,264
308,364
196,006
199,739
280,732
235,352
767,002
743,455
107,166
94,962
8,500
13,939
511,247
491,431
626,913
600,332
53,193
23,181
573,720
577,151
1,340,722
1,320,606
162,445
120,431
955,357
969,807
209,240
209,296
1,327,042
1,299,534
7,390
14,849
6,290
6,223
1,340,722
1,320,606		 2020

The Financial Statements set out on pages 9-24 were approved and authorised for issue by the Parochial Church Council on …. March 2022 and signed on its behalf by:

Rev James Harratt PCC Chair

Martin Cleveland PCC Vice Chair

These unaudited financial statements have been subject to independent examination. See report on page 8.

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PETER & ST PAUL, BROMLEY

STATEMENT OF CASH FLOWS

For the year ended 31 December 2021

Note
CASH FLOWS FROM OPERATING ACTIVITIES
Net cash provided by operating activities
13
Interest receivable
INVESTING ACTIVITIES
Purchase of tangible fixed assets
Purchase of fixed asset investments
CHANGE IN CASH AND CASH EQUIVALENTS IN
THE REPORTING PERIOD
Cash and cash equivalents at the beginning of the
reporting period
CASH AND CASH EQUIVALENTS AT THE END
OF THE REPORTING PERIOD		 2021
£
8,806
11,010
19,816
-
-
-
19,816
491,431
511,247		 2020
£
11,741
9,002
20,743
(10,803)
-
(10,803)
9,940
481,491
491,431

These unaudited financial statements have been subject to independent examination. See report on page 8. 11

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PETER & ST PAUL, BROMLEY

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2021

1 ACCOUNTING POLICIES

PCC information

The PCC is an unincorporated registered charity in the United Kingdom. The nature of the PCC's operations and principal activities are detailed within the Trustees' Report.

Basis of accounting

The financial statements have been prepared in accordance with the accounting policies set out in detail and comply with the Charities Act 2011, the governing document of the PCC, and the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

The PCC adopts the Charities SORP (FRS 102) as updated in January 2019, rather than applying the Charities 2005 SORP which has been withdrawn but is still referred to in the extant Charities (Accounts and Reports) Regulations 2008. This departure has been necessary for the financial statements to show a true and fair view in accordance with United Kingdom Generally Accepted Accounting Practice effective for the accounting periods beginning on or after 1 January 2019.

The PCC constitutes a public benefit entity as defined by FRS 102.

Going concern

The Trustees assess whether the use of going concern is appropriate, ie whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the PCC to continue as a going concern. The Trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the accounts and have concluded that the PCC has adequate resources to continue in operational existence for at least 12 months from signing these financial statements and there are no material uncertainties about its ability to continue as a going concern. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

Financial instruments

The PCC only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised at transaction value and subsequently measured at their settlement value.

Financial instruments are recognised when the PCC becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. All financial instruments of the PCC are basic and therefore measured at amortised cost.

Pension

The PCC operates a defined contribution pension scheme and the pension charge represents the amounts payable by the PCC to the fund in respect of the year.

Funds

General funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application on the general purposes of the PCC. Designated funds are unrestricted funds earmarked by the PCC for particular purposes and allocations to or from designated funds are made in line with the fund's particular purpose. Restricted funds are to be used for specified purposes as laid down by the donor and include alms. Expenditure which meets these criteria is also allocated to the fund. Endowed funds have specific restrictions that the capital may not be used. The income can be spent in accordance with specific restrictions. Transfers are made from general reserves to restricted funds to cover any overspendings at the year end.

The accounts 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 main affiliation to another body, nor those that are informal gatherings of church members.

Income and endowments

Donations and Legacies

Collections are recognised when received by or on behalf of the PCC. Planned giving receivable under covenant is recognised only when received. Income tax recoverable on covenants or gift aid donations is recognised when the income is recognised. Legacies to the PCC are accounted for as soon as the PCC is notified of its legal entitlement, the amount due and any conditions associated with receipt have been fulfilled. Funds raised by fairs are accounted for gross in the hands of the organisers. Sales of books and magazines are accounted for gross.

Grant income

Grants receivable are credited to income for the period for which they are given. Grants received in respect of future periods are treated as deferred income at the balance sheet date.

These unaudited financial statements have been subject to independent examination. See report on page 8.

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PETER & ST PAUL, BROMLEY

NOTES TO THE FINANCIAL STATEMENTS (continued)

For the year ended 31 December 2021

1 ACCOUNTING POLICIES (continued)

Other ordinary income

Rental income deriving from leases is accounted for as due; other rental from the letting of church premises is accounted for as earned. Parochial fees due to the PCC for weddings, funerals etc are accounted for on an event by event basis.

Income from investments

Dividends and interest are accounted for when receivable. Tax recoverable on such income is recognised in the same accounting year.

Gains and losses on investments

All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.

Parochial organisations

All income relating to parochial organisations is recognised on a receipts and payments basis.

Expenditure

Grants

All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value on their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.

Activities directly relating to the work of the church

The diocesan quota (parish share) is accounted for when payable.

Parochial organisations

All expenditure relating to parochial organisations is recognised on a receipts and payments basis.

The cost of generating funds relates to the costs incurred by BPC in raising funds for charitable work. Governance costs include compliance with constitutional and statutory requirements. All other costs are considered to be direct charitable expenditure which is accounted for when payable.

Fixed Assets

Consecrated land and buildings and movable church furnishings

Consecrated and beneficed property is excluded from the accounts by s.10(2)(a) of the Charities Act 2011. No value is placed on movable church furnishings held by churchwardens on special trust for the PCC and which require a faculty for disposal since the PCC considers this to be inalienable property. All expenditure incurred during the year on consecrated or beneficed buildings and on movable church furnishings, whether maintenance or improvement, is written off in the year.

Other land and buildings

Freehold buildings held on behalf of the PCC for its own purposes is depreciated at 2% per annum. In accordance with FRS 102 freehold land is not depreciated. Leasehold property is valued at cost less straight line depreciation over the term remaining of the lease. Expenditure on maintenance or improvement is written off as incurred.

Other fixtures, fittings and office equipment

Equipment used within the church premises is depreciated on a straight line basis over 4 years, other than audiovisual equipment, which is depreciated on a straight line over 10 years. The cost of individual items of equipment with a purchase price of £1,000 or less each is written off on acquisition.

Investments

Investments are valued at market value at 31 December.

These unaudited financial statements have been subject to independent examination. See report on page 8.

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PETER & ST PAUL, BROMLEY

NOTES TO THE FINANCIAL STATEMENTS (continued)

For the year ended 31 December 2021

1 ACCOUNTING POLICIES (continued)

Current Assets

Amounts owing to the PCC at 31 December in respect of fees, rents or other income are shown as debtors less any provision for amounts that may prove uncollectable.

Cash and cash equivalents include cash in hand, deposits held at call with banks with original maturities of three months.

Current Liabilities

Amounts owed but not paid to third parties are included at their value at the year end.

Taxation

The charity is a registered charity and, as such, its income and gains falling within Sections 371 to 489 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 are exempt from corporation tax to the extent that they are applied to charitable objectives.

These unaudited financial statements have been subject to independent examination. See report on page 8.

14

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PETER & ST PAUL, BROMLEY

NOTES TO THE FINANCIAL STATEMENTS (continued)

For the year ended 31 December 2021

2 INCOME AND ENDOWMENTS
Donations and legacies
Planned giving:-
Collections at all services
Legacies
Sundry donations
Charitable activities
Parochial organisations
Other trading activities
Magazine
Car Parking
PCC fees
Other
Investments
Bank interest
Rental income
TOTAL INCOME AND ENDOWMENTS
Under covenant & gift aid
Income tax recoverable		 Restricted Endowment
Total
Total
General
Designated Funds
Funds
2021
2020
Funds
Funds
£
£
£
£
£
£
46,684
-
-
-
46,684
48,337
11,840
-
-
-
11,840
12,697
2,143
-
-
-
2,143
1,833
-
20,000
-
-
20,000
12,000
3,371
-
4,716
-
8,087
12,759
64,038
20,000
4,716
-
88,754
87,626
-
835
-
-
835
1,909
10
-
-
-
10
85
5,943
-
-
-
5,943
6,905
2,818
-
-
-
2,818
896
2,267
-
-
-
2,267
13,191
11,038
-
-
-
11,038
21,077
2,743
8,195
8
64
11,010
9,002
84,712
27,253
-
-
111,965
140,347
87,455
35,448
8
64
122,975
149,349
162,531
56,283
4,724
64
223,602
259,961
Unrestricted

Of the £259,961 income received in the year to 31 December 2020, £2,982 was attributable to restricted funds, £62 to endowed funds and £256,917 to unrestricted funds.

3 COSTS OF RAISING FUNDS

Magazine costs
Investment management costs
Cost of generating donations and legacies		 Total
Total
General
Designated
2021
2020
Funds
Funds
£
£
£
£
555
-
555
523
47
-
47
46
10,205
26,217
36,422
41,187
10,807
26,217
37,024
41,756
Unrestricted

Designated funds include the Rooms, the Youth Centre, St Pauls House, Legacies, Property, Repair Funds, Parochial Organisations and miscellaneous.

These unaudited financial statements have been subject to independent examination. See report on page 8. 15

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PETER & ST PAUL, BROMLEY

NOTES TO THE FINANCIAL STATEMENTS (continued)

For the year ended 31 December 2021

4 EXPENDITURE ON CHARITABLE ACTIVITIES AND SUPPORT COSTS

Away Giving
Church overseas - missionary
Home missions & church societies
Secular charities
Support costs
Ministry of the church
Parish Offer & pensions
Clergy expenses
Church running expenses
Repairs & Maintenance
Sunday School, Education & Training
Music
Outreach
Audio visual and sound system
Anna chaplain
Support costs
Parochial Organisations
Support costs
TOTAL EXPENDITURE ON CHARITABLE ACTIVITIES
Relief &		 Restricted Endowment
Total
Total
General
Designated Funds
Funds
2021
2020
Funds
Funds
£
£
£
£
£
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
4,425
-
17,890
-
22,315
16,670
1,070
-
-
-
1,070
1,070
5,495
-
17,890
-
23,385
17,740
84,608
-
-
-
84,608
84,022
4,565
-
-
-
4,565
3,951
35,174
-
-
642
35,816
34,210
10,338
-
-
-
10,338
23,113
708
-
-
-
708
468
17,031
2,895
-
-
19,926
20,086
749
-
8,867
-
9,616
5,784
-
9,285
-
-
9,285
9,285
-
10,771
-
-
10,771
10,663
1,070
-
-
-
1,070
1,070
154,243
22,951
8,867
642
186,703
192,652
-
683
-
-
683
2,036
1,070
-
-
-
1,070
1,070
1,070
683
-
-
1,753
3,106
160,808
23,634
26,757
642
211,841
213,498
Unrestricted

Of the £213,498 expenditure in 2020, £17,313 was attributable to restricted funds and £196,185 to unrestricted funds.

Designated funds include the Rooms, the Youth Centre, St Pauls House, Legacies, Property, Repair Funds, Parochial Organisations and miscellaneous.

Restricted funds include Away Giving.

Support costs are shared equally by type of charitable activity - Away Giving, Ministry of the church and Parochial Organisations.

Fees paid for the Independent Examination for the year were £3,210 (2020: £3,150).

These unaudited financial statements have been subject to independent examination. See report on page 8. 16

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PETER & ST PAUL, BROMLEY

NOTES TO THE FINANCIAL STATEMENTS (continued)

For the year ended 31 December 2021

5 STAFF COSTS

During the year, leaving aside the Vicar (who is not legally employed by the PCC though their pay and expenses of office are provided by the PCC), the PCC employed a part time Parish Administrator, Anna Chaplain, Director of Music and letting agent.

None of which received remuneration in excess of £60,000.

The average number of employees during the year was as follows:

Wages and salaries
Social security costs
Pension costs
Administrative		 2021
2020
£
£
30,879
43,715
-
-
1,827
2,446
32,706
46,161
4
4

As permitted by Section 185 of the Charities Act 2011 and Section 14 of the Church of England (Miscellaneous Provisions) Measure 2018 three employees hold positions as trustees. This is a minority of our trustees and no trustees receive payment or expenses for carrying out their role as a trustee.

The above figures do not include the value of voluntary assistance given by Church members, without which the PCC's work would be much diminished.

6 FIXED ASSETS FOR USE BY THE PCC

6(a) TANGIBLE ASSETS

COST OR VALUATION
At 1 Jan 21
Additions
Disposals
At 31 Dec 21
DEPRECIATION
At 1 Jan 21
Disposals
Charge for year
At 31 Dec 21
NBV
At 31 Dec 21
At 31 Dec 20		 LEASEHOLD
LAND & B'GS
EQUIPMENT TOTAL
Rochester
Hammelton Youth
Homesdale
Avenue *** Road
Centre
Road *
£
£
£
£
£
£
120,000
2,000
80,529
128,000
112,849
443,378
-
-
-
-
-
-
-
-
-
-
-
-
120,000
2,000
80,529
128,000
112,849
443,378
48,000
-
4,833
39,389
42,792
135,014
-
-
-
-
-
-
2,400
-
1,611
2,461
11,628
18,100
50,400
-
6,444
41,850
54,420
153,114
69,600
2,000
74,085
86,150
58,429
290,264
72,000
2,000
75,696
88,611
70,057
308,364
FREEHOLD LAND AND BUILDINGS

** 126 Homesdale Road was bequeathed to BPC as part of a legacy. Although it is jointly owned by BPC and Rochester Diocese, it has been included within the accounts as BPC has substantially all of the risks and rewards of ownership.

*** Rochester Avenue is jointly owned by Rochester Diocese and BPC. It has been included within the accounts as BPC has substantially all of the risks and rewards of ownership. This property was valued by the Churchwardens as at 31 December 2000.

These unaudited financial statements have been subject to independent examination. See report on page 8. 17

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PETER & ST PAUL, BROMLEY

NOTES TO THE FINANCIAL STATEMENTS (continued)

For the year ended 31 December 2021

6(b) INVESTMENT PROPERTY
VALUATION
At 1 Jan 21
Additions
At 31 Dec 21
DEPRECIATION
At 1 Jan 21
Charge for year
At 31 Dec 21
NBV
At 31 Dec 21
At 31 Dec 20
Comparable historical cost for the land and buildings included at valuation:
Historical Cost
At 1 January 2021
Additions
At 31 December 2021
Depreciation based on cost
At 1 January 2021
Charge for the year
At 31 December 2021
Net book values
At 31 December 2021
At 31 December 2020		 St Paul's
House
£
280,000
-
280,000
80,261
3,733
83,994
196,006
199,739
£
165,000
-
165,000
52,362
3,300
55,662
109,338
112,638

St Paul's House was professionally revalued by a firm of Chartered Surveyors on the basis of its open market value as at 31 December 1996. This valuation was undertaken in accordance with the Royal Institution of Chartered Surveyors Statement of Asset Valuation Practice and Guidance Notes and has not been updated.

The trustees are unable to determine the current market value of the various freehold properties and given that the costs of valuation are disproportionate to the benefit and that BPC has no intention of selling these properties, no valuation has been performed. Based on this, and in accordance with Section 16 of FRS102, the property has been accounted for using the cost model in Section 17 of FRS102.

6(c) INVESTMENTS
Central Board of Finance of the C of E for the:
Kenneth Britton Sunday School Prize Fund
Driscoll Flag and Flagpole Fund
General fund		 2021
2020
£
£
2,549
2,228
5,130
4,485
273,053
228,639
280,732
235,352		 2020

These unaudited financial statements have been subject to independent examination. See report on page 8.

18

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PETER & ST PAUL, BROMLEY

NOTES TO THE FINANCIAL STATEMENTS (continued)

For the year ended 31 December 2021

6(c) INVESTMENTS (continued)
Unlisted securities at market value
At 1 January 2021
Unrealised gain
At 31 December 2021
Represented by:
Designated Fund (unrestricted)
Endowment Funds
Cost of investments		 2021
2020
£
£
235,352
229,612
45,380
5,740
280,732
235,352
275,602
230,867
5,130
4,485
280,732
235,352
152,425
152,425

7 CURRENT ASSETS

7(a) REPAIR PROVISIONS
At the Rochester Diocesan Board of Finance for:
The Church
Church Rooms
13 Rochester Avenue
Youth Centre
At the Central Board of Finance for the C of E for:
Church Interior Repair Fund
7(b) DEBTORS
St Paul's House rents and other receivables
Prepayments & other debtors
Hammelton Road Management
8 LIABILITIES FALLING DUE WITHIN ONE YEAR
Creditors and accruals:
HM Revenue & Customs
Independent examination
Alms accruals
Others
9 FINANCIAL INSTRUMENTS
Carrying amount of financial assets
Equity instruments measured at fair value		 2021
2020
£
£
26,134
24,290
11,848
10,988
6,117
5,367
10,347
9,451
52,720
44,866
107,166
94,962
2021
2020
£
£
2,927
2,927
5,573
11,012
-
-
8,500
13,939
2021
2020
£
£
2511
2778
3,210
3,150
33,480
14,690
13,992
2,563
53,193
23,181
2021
2020
£
£
280,732
235,352

These unaudited financial statements have been subject to independent examination. See report on page 8.

19

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PETER & ST PAUL, BROMLEY

NOTES TO THE FINANCIAL STATEMENTS (continued)

For the year ended 31 December 2021

10 ANALYSIS OF NET ASSETS BY FUND TYPE

10(a) AT 31 DECEMBER 2021

Fixed Assets
Current Assets
Current Liabilities
Fund balance
1 DECEMBER 2020
Fixed Assets
Current Assets
Current Liabilities
Fund balance		 Unrestricted Funds
Restricted Endowment
Total
General
Designated
Legacies
Funds
Funds
£
£
£
£
£
£
241,050
473,608
47,214
-
5,130
767,002
(25,412)
481,749
162,026
7,390
1,160
626,913
(53,193)
-
-
-
-
(53,193)
162,445
955,357
209,240
7,390
6,290 1,340,722
Unrestricted Funds
Restricted Endowment
Total
General
Designated
Legacies
Funds
Funds
£
£
£
£
£
£
249,864
432,607
56,499
-
4,485
743,455
(106,252)
537,200
152,797
14,849
1,738
600,332
(23,181)
-
-
-
-
(23,181)
120,431
969,807
209,296
14,849
6,223 1,320,606

10(b) AT 31 DECEMBER 2020

These unaudited financial statements have been subject to independent examination. See report on page 8. 20

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PETER & ST PAUL, BROMLEY

NOTES TO THE FINANCIAL STATEMENTS (continued)

For the year ended 31 December 2021

11 ALLOCATION OF NET MOVEMENT OF FUNDS

Balances Incoming Resources Net Analysis of Balances Analysis of Balances as at 31 December 2021 31 December 2021 31 December 2021
as at Resources used
Movement
1/1/21 after after Un- Designated Restricted Endowed Total
transfers transfers restricted
£ £ £ £ £ £ £ £ £
ACCUMULATED
RESERVES
Church General - 183,782 (183,782) - - - - - -
Away Giving (note 12) - 17,890 (17,890) - - - - - -
Church Rooms 81,613 9,561 (11,829) (2,268) - 79,345 - - 79,345
Youth Centre 34,435 1,307 (2,291) (984) - 33,451 - - 33,451
Project Designated 376,417 - (20,118) (20,118) - 356,299 - - 356,299
492,465 212,540 (235,910) (23,370) - 469,095 - - 469,095
REPAIR RESERVES
Church 24,290 1,844 - 1,844 - 26,134 - - 26,134
Church Interior (schooling) 44,866 7,854 - 7,854 - 52,720 - - 52,720
Church Rooms 10,988 860 - 860 - 11,848 - - 11,848
13 Rochester Avenue 5,367 750 - 750 - 6,117 - - 6,117
St Paul's House 16,811 - - - - 16,811 - - 16,811
Youth Centre 9,451 896 - 896 - 10,347 - - 10,347
111,773 12,204 - 12,204 - 123,977 - - 123,977
OTHER RESERVES
Sanctuary Fund 1,084 - - - - 1,084 - - 1,084
Britton Sunday School 2,229 320 - 320 - 2,549 - - 2,549
Driscoll Flag - capital 4,485 645 - 645 - - - 5,130 5,130
Driscoll Flag - income 1,738 64 (642) (578) - - - 1,160 1,160
Sandford Driscoll Fund 42,142 303 (2,895) (2,592) - 39,550 - - 39,550
Unspent restricted legacy 5,000 8 - 8 - - 5,008 - 5,008
Unspent legacies 209,296 20,000 (20,056) (56) - 209,240 - - 209,240
Specific donations 14,039 - - - - 14,039 - - 14,039
13 Rochester Avenue 96,310 16,422 (13,853) 2,569 - 98,879 - - 98,879
Starter packs 9,849 1,400 (8,867) (7,467) - - 2,382 - 2,382
Investment revaluation 48,431 44,414 - 44,414 92,845 - - - 92,845
Parochial Organisations 8,026 835 (683) 152 - 8,178 - - 8,178
442,629 84,411 (46,996) 37,415 92,845 373,519 7,390 6,290 480,044
PROPERTY
REVALUATION RESERVE
Unrestricted 72,000 - (2,400) (2,400) 69,600 - - - 69,600
Designated 201,739 - (3,733) (3,733) - 198,006 - - 198,006
273,739 - (6,133) (6,133) 69,600 198,006 - - 267,606
TOTALS 1,320,606 309,155 (289,039) 20,116 162,445 1,164,597 7,390 6,290 1,340,722
Purpose of Accumulated Reserves
Church General The income and running expenses of the Church
Away Giving Alms income and expenditure
Church Rooms The income and running expenses of the Church Rooms
Youth Centre The income and running expenses of the Youth Centre
Project Designated The income and running expenses of St Pauls House
Purpose of Repair Reserves Funds held with the diocese for repairs and maintenance expenditure
Purpose of Other Reserves
Sanctuary Fund Fund set up to provide for sanctuary requisites
Britton Sunday School Income from the fund is used for Sunday School expenditure
Driscoll Flag Endowed fund. Income to be used to fly St George's flag from the Church Tower on certain days
Sandford Driscoll Fund Fund for grants for young people on educational travel
Unspent restricted legacy Legacy to be spent on the choir
Unspent legacies Accumulated income from unrestricted legacies
Specific donations Donation for decoration of Children's Chapel
13 Rochester Avenue Rental income to be used for refurbishment
Starter packs Donations received for project to provide starter packs for homeless recently housed
Parochial Organisations Funds held by various parish organisations operating under the auspices of BPC
Property Revaluation Reserves Funds generated by the revaluation of PCC property

These unaudited financial statements have been subject to independent examination. See report on page 8.

21

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PETER & ST PAUL, BROMLEY

NOTES TO THE FINANCIAL STATEMENTS (continued)

For the year ended 31 December 2021

11(b) ALLOCATION OF NET MOVEMENT OF FUNDS 2020 (continued)

Balances Incoming Resources Net Analysis of Balances as at 31 Analysis of Balances as at 31 Analysis of Balances as at 31 December December 2020 2020
as at Resources used Movement
1/1/20 after after Un- Designated Restricted Endowed Total
transfers transfers restricted
£ £ £ £ £ £ £ £ £
ACCUMULATED
RESERVES
Church General - 198,325 (198,325) - - - - - -
Away Giving (note 12) - 12,245 (12,245) - - - - - -
Church Rooms 89,232 11,965 (19,584) (7,619) - 81,613 - - 81,613
Youth Centre 32,935 6,805 (5,305) 1,500 - 34,435 - - 34,435
Project Designated 377,036 - (619) (619) - 376,417 - - 376,417
499,203 229,340 (236,078) (6,738) - 492,465 - - 492,465
REPAIR RESERVES
Church 22,420 1,870 - 1,870 - 24,290 - - 24,290
Church Interior (schooling) 40,748 4,118 - 4,118 - 44,866 - - 44,866
Church Rooms 10,116 872 - 872 - 10,988 - - 10,988
13 Rochester Avenue 4,612 755 - 755 - 5,367 - - 5,367
St Paul's House 16,811 - - - - 16,811 - - 16,811
Youth Centre 8,545 906 - 906 - 9,451 - - 9,451
103,252 8,521 - 8,521 - 111,773 - - 111,773
OTHER RESERVES
Sanctuary Fund 1,084 - - - - 1,084 - - 1,084
Britton Sunday School 2,085 144 - 144 - 2,229 - - 2,229
Driscoll Flag - capital 4,195 290 - 290 - - - 4,485 4,485
Driscoll Flag - income 1,676 62 - 62 - - - 1,738 1,738
Sandford Driscoll Fund 42,475 533 (866) (333) - 42,142 - - 42,142
Unspent restricted legacy 5,000 - - - - - 5,000 - 5,000
Unspent Legacies 217,244 12,000 (19,948) (7,948) - 209,296 - - 209,296
Specific donations 8,039 6,000 - 6,000 - 14,039 - - 14,039
13 Rochester Avenue 82,184 22,014 (7,888) 14,126 - 96,310 - - 96,310
Starter packs 12,572 2,345 (5,068) (2,723) - - 9,849 - 9,849
Investment revaluation 43,124 5,307 - 5,307 48,431 - - - 48,431
Parochial Organisations 8,153 1,909 (2,036) (127) - 8,026 - - 8,026
427,831 50,604 (35,806) 14,798 48,431 373,126 14,849 6,223 442,629
PROPERTY
REVALUATION RESERVE
Unrestricted 74,400 - (2,400) (2,400) 72,000 - - - 72,000
Designated 205,472 - (3,733) (3,733) - 201,739 - - 201,739
279,872 - (6,133) (6,133) 72,000 201,739 - - 273,739
TOTALS 1,310,158 288,465 (278,017) 10,448 120,431 1,179,103 14,849 6,223 1,320,606
Purpose of Accumulated Reserves
Church General The income and running expenses of the Church
Away Giving Alms income and expenditure
Church Rooms The income and running expenses of the Church Rooms
Youth Centre The income and running expenses of the Youth Centre
Project Designated The income and running expenses of St Pauls House
Purpose of Repair Reserves Funds held with the diocese for repairs and maintenance expenditure
Purpose of Other Reserves
Sanctuary Fund Fund set up to provide for sanctuary requisites
Britton Sunday School Income from the fund is used for Sunday School expenditure
Driscoll Flag Endowed fund. Income to be used to fly St George's flag from the Church Tower on certain days
Sandford Driscoll Fund Fund for grants for young people on educational travel
Unspent restricted legacy Legacy to be spent on the choir
Unspent legacies Accumulated income from unrestricted legacies
Specific donations Donation for decoration of Children's Chapel
13 Rochester Avenue Rental income to be used for refurbishment
Starter packs Donations received for project to provide starter packs for homeless recently housed
Parochial Organisations Funds held by various parish organisations operating under the auspices of BPC
Property Revaluation Reserves Funds generated by the revaluation of PCC property
Transfers During the year the board agreed to transfer £4,369 from the designated funds to the general fund. £619 was a contribution to the running costs,
£17 related to alms, £3,733 related to depreciation. £2,625 was transferred from the general fund to designated funds for repair funds. Also
£11,591 was transferred from the general fund to the restricted fund for alms.

These unaudited financial statements have been subject to independent examination. See report on page 8. 22

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PETER & ST PAUL, BROMLEY

NOTES TO THE FINANCIAL STATEMENTS (continued)

For the year ended 31 December 2021

12 RESTRICTED AWAY GIVING
RECEIPTS
Special Collections
Bromley Starter Packs (Jan - Apr 20)
10% of general income
10% of St Pauls House income
10% of Youth Centre income
Transfer from St Pauls House
PAYMENTS
Aphasia Re-connect
Meals Network
DEC Afghanistan Appeal
Latch
The Children's Society
Bromley Starter Packs
Bromley Brighter Beginnings
Bromley Relief in Need Freedom Fund
Macmillan
Diocesan Link Harare
Crisis at Christmas
Bromley Homeless Shelter
Foodbank
Local/national charity
International charity
Accrued for long term giving		 2021
2020
£
£
3,315
25
-
612
1,103
1,629
8,471
9,962
-
17
5,000
-
17,889
12,245
505
-
50
-
5,000
-
-
75
274
-
101
3,464
-
2,853
180
2,853
340
-
1,315
-
225
-
225
-
300
-
3,187
-
3,187
-
3,000
3,000
17,889
12,245		 2020

These unaudited financial statements have been subject to independent examination. See report on page 8 . 23

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PETER & ST PAUL, BROMLEY

NOTES TO THE FINANCIAL STATEMENTS (continued)

For the year ended 31 December 2021

13 RECONCILIATION OF NET INCOME TO NET
CASH FLOW FROM OPERATING ACTIVITIES
NET INCOME FOR THE REPORTING PERIOD
Adjustments for:
Depreciation
(Gains) on investments
Movement in provisions
Interest receivable
Decrease in receivables
(Decrease) in current liabilities		 2021
2020
£
£
20,116
10,448
21,833
21,833
(45,380)
(5,741)
(12,204)
(8,521)
(11,010)
(9,002)
5,439
4,616
30,012
(1,892)
8,806
11,741		 2020

14 OPERATING LEASE COMMITMENTS

The PCC operates as a lessor in relation to its investment property that is tenanted on a short leasehold basis and produces rental income.

At 31 December 2021, the future minimum lease payments receivable by the PCC under the non-cancellable element of its operating leases with its tenants was as follows:

Within one year
Between one and five years
Over five years		 2021
2020
£
£
85,460
23,649
26,912
53,823
112,372
77,472		 2020

15 RELATED PARTY TRANSACTIONS

Apart from those mentioned in note 5, there were no related party transactions to disclose for the current or previous year. There were no outstanding balances at the year-end.

These unaudited financial statements have been subject to independent examination. See report on page 8. 24