THE PAROCHIAL CHURCH COUNCIL OF St STEPHEN and St THOMAS LONDON W12 Registered Charity No. 1133759 REPORT OF THE TRUSTEES and FINANCIAL STATEMENTS for the Year Ended st 31 December 2020 This poge iKieniioKally blank St Stephen and St Thomas Church ANNUAL REPORT for the Year Ended 31FI December 2020 Charity Details Nam¢.' Si Stcphcn and St Thomas ChU￿h Registered charity nUm￿r. I l J3759 Principal AddTess'. Si Stephen's Vicarnge I Coverdale Road Shepherd's Bush London W l ? 8JJ Independent Examiner Alistair l. Wem Bsc. FCA W¢n) & Co Chartered Accounlanls Savo}. Hous¢ Savoy Circus London W3 7DA B4nk¢rs IISBC pl¢ 21 Kin&Js Mall Kingi Street London W6 OQF Administrative information The PArochial Chureh Council IPCC} is consiiiuied under the Parochial Church Councils (Powers) Measure 1956 as amended, as the b(Kly charged ￿'1[h running ihe aclivilies of the Parish church and promoting in the parish the whole mission of th¢ Church. Th¢ Parochial chU￿h Coui)cil i5 regi￿tered &$ a charity with the Charii>' Commission. The regisiered number is 1133759. and the date of rebFislralion was 26 January ?010. The Parish of St Stephen and St Thomas 15 one of ?0 Parishes in the Deanet), of Hainmet51nitl) and Fulham, whiLh is in the Area of the London Diocese under Ihe Bishop of KensinbFion. The Ken5inbTlon Area contains the 5 Boroughs of the Archdeaconry of Middlesex. The correspondence address is Si Stephen's Parish Office. I coVerd￿e Road. London. W12 8JJ. The Parochial Church Council met ninc timcs during thc l'ear. MeniEer5 ofthe PCC arc cithcrex officio, elected by the Annual Parochial Church Meeting (APCM} in accordance with the Church Representation Rules. or co-opted. PCC members who have served fn)m the I si Januar>. 2020 to ihe date ihis report was approN'ed are: Incumbent: ReN' Denis Adide Curate: Chen'l Freeman Ex oificio rnember5 of th¢ PaT￿hla1 Churyh Council: st stephen and Sl Thofflas ChuR* 2020Annual Report & Financyal Statements Churehwardens.. Barry Clarke (from Sepiember ?020) and Charles Wood. McGovem (until S¢pt¢nib¢r 2020) De3nery Sj'nod Representatives= Juliet B}'ford {alw PCC Lay Chair). Adrittn Jatnes (frorn September 2020) and Philippa Robb {uniil Sepiember ?020) School Foundation Governors: Kavits Abraham Dowsing (Children s Champion) {until September ?O?O}, Alex Leg&Je Other Elected members.. Deputy Churchwardens.. James Larney and lain Halpin (until Sepiember 20?0}, Co Trea5urer5'. BarTh Clarke dnd Matt Brookcs {unlil Septernber 2020). Fenii Ladeinde Ifrorn September 20201. SafeguardingO￿le¢r.' Louisa Askins (uniil Sepiember 2020}. Jessica Matshall {from September ?O?O) Carolin¢ Allcn and Shara Sarian lun¢il January ?020). Shcrttn B¢dass¢¢. Damicn Pattinson, Christiana Adebiyi, Mauricio Karam. Alex SealM)rne, Naialia Cassel. Electoral Roll OtTicer- Shelly Nixon Independeni tiaminer.. Alisiair Wem. Wem & Co. Savoy House. Savoy Cir¢us. London Wi 7DA Bankers: HSBC. ? l Kings Mall. King Sireet. London W6 OQF Structure¥ governance and managemenl The n)ethud of app()inlin¢ni of PCC m¢Jnb¢TS is set ()ut in the Church Representation Rules. All Cliurch attendee5 aTe encourdgTed io Teg7lSter on the Elecloral Roll and sland for election to ihe PCC. The PCC Standing Comniitiee meets as necessary beiween full Ineetings of the PCC. The Standing Committee is required by law,. it ha5 the wwer lo Irdnsacl Ihe business of the PCC he1￿Cen ils rneelingis. r¢n¢rall}' when in)n)¢diai¢ decisions or auihorilies are required. Tl)¢' Stsnding Comii)itte¢ is ¢oinposid of ihe In¢umbeni. Ihe two Churchwardens. the Lav Vice Chair and the Treasurer. Objectives and Activities The primary object of the PCC is to promote the GosrKI of our Lord Jesus Christ according to the doctrine5 and practices of the Church of England. -lThe PCC for the Parish of St Slephen and St'l'hoina5 ha5 th¢ r¢sponsibilit) of¢o-op¢rating with th¢ Vi¢ar in proinoting in lh¢ ¢ool¢siastical parish thc M,hol¢ mission of the ChurLh. p&storal. evan&>elislic. social and ecumenical. At St Sicph¢n and St Thonias. th¢ parish has resrK>nsibility for the church. Ihc church hall. a kev work¢r flat (Glebe Flai. l A Coverdale Road. W12 8JJl. currenily leL and a house135 Bloemfontein Avenue, W12 7BJI. also currently let. Review of the year, 2020 The review of the year is fully impacted and coloured b). the Covid-19 tmndemic which reached public consciousness in trarly 20?0 and then fully affecied us all with the fI￿t national lockdown in March ?020. Over the course of the yearwith i national lockdowns and intervening rrtriods of differing social restrictions. we continued to provide service5 online giving pari5hioner5 the ability to attend virtual serviees in place ofin-person gathering. During the course of ihe vedr. wheneb'er we were able io meet in person, wecontinued to provide two Sunday morning services,. one Iraditional and the other contemporary. We were joined in the N'ear by our Curale, Cheryl Freeman who was officially ordained into the priesthood on June 19. ?021. st stephen and Sl Thofflas ChuR* 2020Annual Report & Financyal Statements In the Parish We continue to strive to ￿ a Christ-ccnired, liturgicalls, bascd, F.ucharist focuscd church, serving our local Community inside and outside theLhurLh fd. niily, ConipdS510lldte, Credtive and Courageous. Noiwiihstanding the Impa￿ of ihe Covid-19 pandemic. during periods of lified social r¢strictions. w¢ ar¢ committ¢d to our w¢¢kly outr¢ach proLiramm¢ ¢a¢h Monda),, a Toddler gwroup in the rnorning. followed b). Silver SLreeningy Club wilh Lunch a film for the elderly. and our partnership with Street111es and Nem. Ciry, Church. who serve a hot meal with a film for homele55 people and hostel dH'ellers in ihe elening. Our relationship with St Stephen s School remains strong with beginning and end of temi servie¢s and assemblies each week. Many of the s¢h(M)I families #re a¢tiv¢ly involved in the church. The Roof Fund grew furth¢r in 2020 and r¢a¢h¢d £17i.571 by ihe end orth¢ year. Work on the Church Roof finall J. began in November 2020 wilh progress moving ai a p)sitive rate and coniplciion of works expcclcd by Augusi ?0? l. A new Parish Admini5trnior, Shelly Nixon was hired to enable the iiiore efficient running of the Chur¢h and to provid¢ addilion81 supp)rt where ne¢d¢d. Whilsi Jo¢ Graves left his post as organisi, choirniasier and direaor of music. w¢ hir¢d Timoihee Rabarjoelina &8 a Worship .eader with Griffin Jenkins providing organisi services. The enlargied provision for children which was introduced in ?019 was paused as a nece%sity Tiv¢n lh¢ iJnpaci of ¢he Covid-19 pandemi¢. However. Ih¢se ha%,¢ b¢¢n TeinlToduced in ?0? I followin￿* the r¢laxa¢ion of resiri¢iions and coniinue io otrer a&ye appropriaie ¢lass¢s from O 10 RcbFular Alpha courses are offered ihrough ihe year. The challenges for the year for 2021-22 The main challenges for the forthcoming 2 years remain ihe same. These are that ihe financial outlook for St Stephen'5 hinges on two niain things. The first is the slrenglh and suslainability of its in¢onic/fundraising stream5. and the 5erond 15 the as5¢55n)¢ni of whdher that incon)e matches the Core and aspirational mi&sion obj¢¢tiv¢s. Trdditionall J.. St Stephen's has b¢¢n abl¢ to 5115tain its mission, servin&> the commLinity in Shepherd's Bush Ihrough prd)'er and ac￿ of service. Our parinership with other orgFanisations also all0￿.ed for fruiiful mission to happen at a I0￿,er financial cost. However. th¢ incr¢as¢ in chU￿h att¢ndanc¢ nUMi￿r5 ovcr th¢ prcvious dcradc couplcd thith th¢ flourishing of the neighbouring schixil mean that mission has had to thke a ne￿ shaFt.' whal we do as a church is now increasingly more financiall). demanding than in previous years. These challenges however, have been e.xacerbated and complicaied by the impacl of ihe Covid-19 pandemic. Over the course of the )ear ￿lIh muliiple national lockdowns. Ihe makeup and mixture inconielfundraising has changed wilh a drop in income such as Church Hall hiring but an increase in Charitable giving from parishioners. The challenge. therefore. lies in even more careful analysis of what specific areas of the wider mission of the Church we need io f(Kus our investment in. in order to tactfull), gro￿ in a sustainable way. A seLondaTh' aspeci of this is ihe assessmeni of Ihe cosi of such focuses in iheir various phases wilh a viem. to further developing our income streanvfundrdising capacit). to malch and assessing whether this makeup has changed in a Fern]anent u'ay. There are. moreover. continuing challenges M,hich present necessar), hurdles. An esseniial part of the journey forward involi'es ihe completion of the esseiitial works lo the roof. Nearing completion of the r￿f works will give more freedom in the ability to direct raised funds io target many more topics. st stephen and Sl Thofflas ChuR* 2020Annual Report & Financyal Statements 2021-22 will be a vear of rvdssessment. a funher incrvdse in efforts to stem'ard ￿ha1 we have well while encouraging further generosltj. from both those ¢onne¢ted to ihe ¢hur¢h as ￿,¢1] as in the I￿al community. Electoral Roll and Worship numbers The electoral roll (2020 revision) numbers 181. of whom 85 are resident in the parish and 96 living outside ihe parish. Worship Numbers.. 40 (Average attendance) Sundaj SLhool Aitendan¢e Numbers- 20 (Average attendance) Please note thai both attendance figures aknve relate io ihe full 12 month period and therefore take into account all national lockdoM'n5 and ￿riodS with S(￿la1 distancing measurcs in place. Financial Review DLiring? •O?O congrL%iational giving reached a new level as Parishioners generously took on the responsibility of in¢reasingT their gTiVillgT lo make up the 5honfall in othcr Church incon)e due to the impaci ofihe Covid-19 pandemic. Th¢ Parish conlinues ¢0 benefii froin inconie r¢¢¢ii'¢d throubih thL HMRC Gift Aid scheme. and church also claim for Gift Aid Sinall Doiiaiions IGASDSI payments. Amoun15 owed to us b). I IMRC in respeci of pendingi claims for net payments Teceived, are included within these accounts as part of "Debtor5' . The income from church hall letiin&?s droprEd significanily due lo the periods of national lockdL)wns and restricted S(￿la] interactions. I lowever. the rental income from our investn)ent prop¢rty 8135 Blo¢mfont¢in Av¢nu¢. r¢main¢d strong wilh the prop¢n>' being? re-lei durin& (he year following the departure of the previous tenants. Fund-rai5in&? towards the cosl of major roof repair5 at St Siephen s continued M'iih a varielj of aetivitie.% throubjhout the year. with a net ioial of £J9.797 ￿Ing raised. Th¢ year-end balance in the Roof Fund M'as £171.571. UFN)n reachinbj an intermediate tarbjei of £120.000 Ihe Parish is eli&Tible to Seek funding SUFVOrf from relevanl grant-awarding bodies which have ￿en applied for and with n)anv gTanlcd. OLir Common Fund payment to ihe Diocese of London represents our most significanl item of rcgular cxpcnditure. For thc ?O?O financial year. we agree(L a Cominon Fund contribution of £57,998. Please note there may be rounding discreFYdncies of £ l in ihe fIgu￿S shown below. Reserves policy It is PCC poliL>' to try lo maintain a balance on un￿sir]Cted funds. which equates to approximately six months unrestricted tYaN'ments. to cover emergencs. Situations that may arise from time to time. This is equivalent lo £75.000. It is held io siiiooth oui fluctuations in cash flo￿. and to meet emerbTencie5. A5 at J1112120. the cash balance held on unrestricted fund5 {including designated funds). iogeiher with ihe amounts paj'able to and by the PCC was £76.324 which is fractionally higher ihanihis largel. It is PCC policy to ini'est funds earniarked for Si Siephen's Hall. and for the church's roof restoration fund with the CBF CO￿ DeFK)sii Fund through CCLA In￿estment Management Ltd. Th¢ funds belonging to th¢ EW Wright Endowm¢nt mainly inv¢st¢d in a bank d¢posit account. st stephen and Sl Thofflas ChuR* 2020Annual Report & Financyal Statements The funds belonging to ihe Mission Hall Charitt. Ivere previously ini'esied in the CBF CofE Inv¢5tm¢nt Fund through CCLA Inv¢stm¢nt Manag¢m¢nt Ltd. During 2020, the Dio¢¢s¢ granted permission for these restricted funds to be trdnsferred and put towards the funding of the works on ihe Church n)of. Approved by the Parochial Church Council and signed on its behaifby: RévDEnisAdidelJul 31.2021 ltr04GMT￿1l Rev Denis Adide, Chair Dat¢= Jul 31. 2021 Originol signed cop.¥' reiained onfile. st stephen and Sl Thofflas ChuR* 2020Annual Report & Financyal Statements INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PAROCHIAL CHURCH COUNCIL OF S¢ STEPHEN St THOMAS I rewrt on the accounis for the >'ear ended 3 Isi December 2020. m.hich are sei out on pages7to 17 Respective responsibilities of the trustees and the examiner The Lharity'5 (ru5tees are responsible for the preparation olthe attounls in accordance with the Charities Act 2011 ("Ihe Act"). The charity's trustees consider thai an audit is required for this year under section 144 of ihe Act and that an independ¢nt ¢xaminaiion i5 n¢¢d¢d. li is my responsibilitv to.. examine the accoiinis under setiion 145 of ihe Charities Act. to follow ihe applicable Direciions giveli b). Ihe Charity Commission (undersection 145{5Mb) of rhe Ac¢ and to 51ate whether particular matters have come io my aucniion B85is of the ind¢p¢nd¢nt ¢x4min¢r's s14tomenl My examination was carried oui in accordance with generdl Direciions given by the Chariry Conin)ission. An ¢Kaminalion inclLid¢5 a r¢vi¢w of the a¢counling r¢¢ords k'¢pi by th¢ charit), and a ¢oiMpariso1i uf ihe accoiinis presented with those records. It also includes considerdlion of an>. unusual items or disclosures in the accounts and scekin&> e¥planations from ihe irusiees cmceming any such matte￿. The proccdures undertaken do noi provide all thc evidcncc thai would be required in an audit. and coiisequenily iio opinion is &?iven as lo whether ihe accoun¢s preseni a'irue and fair view and the repon is lin)iied to those n)a¢iers set out in the statement below. Independent examiner's statement In conne¢tion with m). exominolion. no maierial moiiers hove Come io my ottenlion whi¢h gives me ¢ause ¢0 believe that in. an}. mal¢rial respe¢t'. the accounting records w'ere noi kept in accordance with section 130 ofthe Charities Act: or the accounls did not accord with Ihe accouniing records: or the accoiints did not coniply M'ith the applicable requirements concemitlg tl)e fom) ai)d coi)tent of accounts sei oui in the Chariiies (Accounis and Retx)nsl Regulaiions 2(M)8 oiher than any requirement that the accounts give a 'true and fair, view which is not a maiter Considered as part of an independent examination. I hclve no ¢on¢ems and have come across no other mailers in connec(ion with (he examinatioi) to ivhich aitention should be drawn in Ihis re￿)rt in onkr io enable a proper unders￿ndIng ofihe accoun¢s io be reached. Signed.. Date.. 3110712021 Alistair l. Wem BSC. FCA Wem & Co Chartered Accountanis Savo}, House. Savoy Circus London W3 7DA Original signedcopJ reiainedonfile. St S18ph&n and Sl Thom8s Churdj 2020Annu81 R8POrt & Fin8nci81 Stal8m8nls Statement of Financial Activities Unrestricted Designated Reslricted Endowment fund_4 fund$ funds funds 2020 2019 funds total fund5 IDCOmt *nd efftdowMe￿ts rrom.. InLUrnL. fn)m Lharitabl¢ aoiYitl¢S Oth￿1 I[￿lnE Uitivitl¢5 39 35.310 17,941 42,795 35,910 7.485 42ffi0 (Xhei InLtsme 35J49 163.678 142.572 Exwndilure DD- 107.703 107.703 10.146 127.818 I34.￿$ ¢1 Inrom¢l (up¢•d1t￿rej ryowr¢N 1rnTr4f¢r 15203 35.829 I'rMnqftr4 (Ifil)% IrLin%lirs ￿[w¢¢￿ luNds- In (ifil%% Iran%lif4 ￿'t￿V¢en luN&4- out ()Ihcr iNln4 I ?0.976 70976 120,9761 14.ml (ialll.4 lili fLl&ilu&lllilD. IixLd &4XY5.churitys¢)w) Use i rnilvfrnfnl 2Q627 37.659 39.141 43 1￿1#1 b￿￿#hI fonty*tyl iJ77.ISJ JO.178 2.471713 I'￿ts1 fuAd*cArrled ￿Y￿rd 2J97.780 161W9 JO,178 1,6111,794 2,479,&44 st stephen and St Thofflas Chuth 2020 AnnualReport & Financial Staternents BALANCE SHEET at 31st DECEMBER 2020 Noit 2020 2019 Tang]bleas￿ts Inve51ments ? n(K) 2WS,I 2JJ2J7 (.￿rr¢Th¢ a55tts 13.898 3.795 Lash ai b8nk and In hand ?16. j4¥ 314.147 Credi￿r5 Amounts fallin8 due In onevear JJ62 JJ62 247Jl I'TrtAI Itmcurrtni li*hlllli I'othl ncl ItA4 IIAbllltl¢J 2,618,79J RcprtseTrled bv Ilnrc*lrlrif 76.394 ?321.456 5.5.6¥7 2.3?1.456 %'1'51' 37 Ill1￿ AvtnlDItyRr￿>rn￿Glebe l)tr%lin*ted IlliiLin Av¢ r¢fuYbishm¢nt furnl 2018 28.( Sl %liTrhin Ri)ol'fund 4.17? 6.475 4,41 5'1'%'1' [-' W Wiighl A¥LniV iwII¢Liion I'.n(lo*rntnl di ofiht church Appro%ed by the P*ro¢hl*l I'hyrth C'oyneil •Trd iixned ill b¢h41f bi: Rev D¢nis Adide. Chair Jul 31. 2021 J I ILYulIltrD*G￿Tr1.' st stephen and St Thofflas Chuth 2020 AnnualReport & Financial Staternents St Stephen and St Thomas Notes lo Ihe Financial .Stal¢mellts for the year ended 3151 Deeember 2020 ACCOUNTING POLICIES 1.1 Basis of financial statements Th¢ finanLidl 5tat¢rn¢nts have b¢¢n prewdred und¢r ihe histOriLal cost eonvenlion wilh il¢nis reLugnised at cost or iransaciion value unless otherwise sthied in ihe rele¥ani notes to (hese accounts. 'I'he financial statemenis have been prepared under the Church Accouiiiing Regyularions 2006, in accordance ￿1th the Stat¢m¢nt of R¢comm¢nd¢d Practicc- Accountingi and Rcporfingy b). Chari¢ics pr¢paringT their accoui)Is in accordance w ith the Financial Reponin8 Stsndard applicable in the UK and Republic of Ireland {FRS I O?) and the Charities Act 2011. The financial siai¢m¢nis have b¢¢n p￿pared io give a'irue and fairf vi¢w and hav¢ departed from ihe Charities {Accounts and RekX)rts) Regulations ?008 onl> to the exient required to provide a 'rruc and fair, view. This departure h&5 involved following ihe Charities SORP IfRS I O?) rather than the Accounting? and R¢portin& by Charilies- S¢aiement of Recommended Pra¢ii¢e ¢ff¢¢tiv¢ from l April ?005 which has since b¢¢n withdrawn. The parish of St Stephen and St Thoma5 constitutes a public trtnefit entity within ihe meaning7 of FRS I Q2. The finan¢ial siai¢ni¢rtis in¢lLid¢ all tran￿¢lL￿ns. asseis and liabililies for whi¢h tl)¢ irnsie¢s ar¢ responsible in law. They do noi inelude ihe accounts of church g>roups ihat owe their main a￿llIa110n to anoiher bcdy. nor to those that are inlormal gaiherinuys of church members. The pre5en(a(ion currency ofihe financial siaieinenis is Pounds Sierling {£) 1.2 As$el$ Cun.iecriiledand heneficepriiperti. In so far as conseLrated and benefiLe property ofany kind is excluded from ihe statutory definition of '¢harit} by S¢¢lion I ￿?) (al and Ibl of th¢ Charities A¢1 201 l su¢h assets are not ¢apitalis¢d in ihe finan¢ial statcnicnts. Moi'euble chMr£'lifurnishinRs Thcsc arc ¢apitalis¢d a¢ cost and depreciated over ih¢ir useful wonomic life other than where insufficient Cost infom)ation is available. In thi5 case the item is not capitali5ed. but all iten)s are ii)cludcd in the Church's inventory in any case. TfiNgihlefLred fi.f.¥etsfor u.se hy chority These are capitdlised if the)" can be used for more than one )'ear. and cost at least £500. Electrical and electronic equipment is depreciated on a strdighi-line basis over 4 j'ea￿. all oiher assets are deprecialed at 150/0 on a reducing balance basis. lryveslments Investments quoted on a reLognised siock exchange or whose ialue derii'es from ihem are valued al market value at the }'ear-end. Other invesiments assets are included ai PCC'S besi estimate of market value. Shorl term deposits Thcsc arc thc cash h¢ld on d¢posil ¢ith¢r wilh th¢ CCLA or al th¢ bank. st stephen and St Thofflas Chuth 2020 AnnualReport & Financial Staternents 1.3 Fund Accounting Unre.ftri¢ted Fund.f ar¢ funds that arc availabl¢ to IK S￿nI on th¢ Irusl¢cs g¢ncral purposcs in furthcrancc of the objeetives of the charity. De.signated Funds ar¢ gcncral funds sct asid¢ by the trustccs for usc in th¢ future. D¢5ignat¢d funds r¢Tnain unresiricied. and the trusiees may move any surplus io oiher unresiricied funds. The purpose ofeach designated fund is show'n in Seciion 6lbl of thL%e notes. Re.firicted Fund.¥ compris¢ r¢v¢nu¢ donations or grants for a spwific aclivity int¢nd¢d by th¢ donor. Any balance within a partieular resiriLted fund remaining at J'ear, be permanent (normally held indefinitel),) or eX￿ndable (subject to a discretionary power to spend capital as ii)comel. Depending on th¢ tcmis ol-thc grift. incom¢ dcrivcd from th¢ capilal cith¢r mav spcni oji unrcs¢ric¢cd purpos¢s at lh¢ discreiion of ihe Irusiees. or musi be speni on specific purwses restricied b), Ihe donor. Full dethils of all su¢h restrictions ar¢ shown in in S¢¢iion 6(dl ofihese noies. 1.4 In¢oming Resources In principle. incoming resources are recognised when: l. the trustees become legally enliiled to the ￿nefit of use of the re50urce5- 2. Iheir ultimate receipt 1$ pn)babl¢' and 3. The monetary value can be measured with sufficient reliability. PlannLd &>ivinbJ. collections and similar donaiions are recog)nised when receiNed. Tax refunds are recob>nised whLn the incoming? resource to which the). relate is received. Investnient inc()Ine 15 accounted fur when receivable. Grants and le&yacie5 are accounted for when ihe Truslee5 are enliiled (o ihe use of the resouTces. their ultimatc receipi is considered reawnabl) cenain. and the amounts due are readilv quaniifiablL. Renial inLome arising> from the letiingi ofLhurch preniises and property is recognised when due. All inLominu resources are accounted-for gr055. 1.5 Resources Expended All expenditure is accounted for on an accrual basis. Grants and donalions are accounted for when paid over, or wh¢n award¢d if that aw'ard ¢r¢at¢5 a binding or ¢on51rurliv¢ obligatioi) on th¢ tru5t¢¢s. Th¢ DioLesan Common Fund Loniribuiion ei￿cled io be paid over is accounied for when due. All oiher expendiiure is generally recognised when il is incurred and is accounied-for gross. st stephen and St Thofflas Chuth 2020 AnnualReport & Financial Staternents 70 INCOME AND ENDOWMENTS Total 20211 Urtr Dat Endowm 2019 Donations and legacies Oill ilid- ljank Gift Aid- F.nvL'1o￿S 37,995 20 -57,995 20 2?,005 4,222 5.-%.$7 Ta¥ rtiiiv¢rahl¢ i)n Clift Aid l)Ih¢i lund> 8¢n¢ra*d 8.747 8.747 4.50 90 43.103 Tothl 67.898 67.898 Ineome from ¢hirl¢Abl¢ 8e¢lvltl¢s Ilapii4m.4.IlannN and ￿¢dding5 260 14.792 260 14.7¥2 1.38¥ 375 39 ¥ulgh Chur£h 1.500 18.316 Toial 39 Other tradln% *ttlvitle5 7.400 7.400 35.310 38 37 7.485 3B 37 42.79 Toial 21.4911 Inve5tmeDIs 6.425 RLni 34 BIoLmlunicin Awe 33.6(K) 34.fyil 128.330 33.6(N) .14.h31 163679 INC'0I1F TOT..11. 142.572 st stephen and St Thofflas Chuth 2020 AnnualReport & Financial Staternents 71 EXPENDITURE Total 2020 L￿restrIcted Dtsi xied Resiridtd E￿d0￿ment 2019 Raising funds Social EvLnis- fund raising Totsl Expenditure charitable aetivitie5 HutnL Tniysiun Minisln parish Sha￿ eic 70 5.S,-$00 -$8.2(K) 2.392 -$8.2(K) 2.392 Wisrking L¥Pill4L% l)I'IDLunibeni VILarag¢ hi)u%t ¢.¥pen.stq WaiLr ruieN- I'ILarage PuriNh IrDining and tni￿lOn L'hiir¢h riinnin8- Insuran¢¢ L'hiir¢h ullic¥. w'l¥phon 2.989 3$4 60 3.647 598 726 3.647 598 726 3.317 6.-174 C'hiirLh mainlLnancL' 2.8.16 3.760 2,360 724 3.760 2.360 724 fi.wx I'ILdninb L'hurLh 2.214 I IpkL'L'P i>I'L'hurih l-'IVw¢r￿CrIrdett ele 6.701 6.701 795 3.￿3 1.243 79 3.714 j.wi 3.047 00 3.714 3.047 724 linVLrnancL cost% Lxaminatiorvaudit fee 1,200 19.8(X) 19.8(X) pcc Jf t31oLm.AsL LIF&"eLpIWillmolls1 i)IhLr PCQ prupL'rly upkeep 6.577 2.357 1,526 167 970 133.782 134.9(15 346 346 ilm Admin 107.7n4 107.7t14 2Q.146 2Q.146 127849 127R49 F.XPF.JDITI'RF-. TnT..11. CIlL.I)D TOTPIL 20.626 7.666 st stephen and St Thofflas Chuth 2020 AnnualReport & Financial Staternents 72 STAFF COSTS AND EMPLOYEE BENEFITS From September ?O?O. the Parish had one ernpluvee. Parish Athnini%tra(or. A Il'orship Leader ￿.￿$ also employed although the relei'ani cosis w'ere covered b) a coniribuiion with ihe expenditu￿ moving on to payroll in ?021 Apart from ihe above and duties perfornied by unpaid volunteers, services were pn)vided to ihe PCC by individuals acting as self-employed conirnciors. as follows= .gt.gicphen & .$1 Thnma. Church and Church Hall cleaning Church Hall i￿OkIng5 Parish adminisirdiion Organ pla}'ing and musical direction RELATED PARTIES No other paynienis. expenses, or other benefits were grdnied to anv PCC member, persons closely connected to them, or related parties. Donations from relaied parties IPCC memkrs) included £J1.980 in ihe forn) of planned congregational iivinbv and £6.800 specificall>. b?ii'en io Ihe Si Siephen's Church Roof Fund. st stephen and St Thofflas Chuth 2020 AnnualReport & Financial Staternents 13 FUNDS 6(a) SumTh Ary of Fund Moi'trntnts 2020 nin Intomin Out oin Transfers Gainsn055e5 C105in BloemAvfr18- 35 810om Ave Trfurbl Designated 28.(N)O 28.000 28,WO SUl￿totAl for ￿0•MAy*l8 G•n8ral- Goneral lund Unr8slrict8d 55,697 55,$97 128 330 128,330 107.703 107.7113 su￿10t41 fr*r ¢W￿rI1 76,324 Rool- St stephen Rool Fund Re51nc 133.774 133,774 35.310 36,310 19.8fAJ 19,8(Kl 20.976 20.976 173.571 173,571 Sut￿t0￿1 lor Roof Opot)Cln- St Stoph•th'8 Fllm Cl Re51ncted 4.429 Sub40ts1 lorOp•nCID 4,122 35BAveH- STST 35 eio•AvWH•l Unresiricted 2.321.456 2,321.456 Sub-total lor 35BAvoH 2J21,450 2,321,466 Wrfght- STST E W Wrfght Re51nctsd 6.475 11,032 17,508 6.475 11.032 17,fj08 End￿me Sub-total lorWrf9ht AIH- STST Ml••ot) H41 Resirided 1.831 11.8311 19.145 120,9761 End￿m6 8ub-totsl lor MH 20,976 Nom. A8•ncy ¢oll•etlon Resinthed su1￿1•¢11 for Non• 418S -2,1B6 Qrnnd totsl 2 618 790 st stephen and St Thofflas Chuth 2020 AnnualReport & Financial Staternents 14 6(b) Designated Fund Details Th¢ purp05¢ of rach of th¢ dcsignalcd funds is sci oul in this s¢Ction. STSTJ5 Bloemfontein Ai'enue. This fund has bccn s¢1 asid¢ for th¢ purposes of mainlcnancc and upgrading of th¢ prottrty. STST Fuir Vuliie Fil￿d This fund is designated for movemeni in fair value of property and is noi disiributable. 6(c) Restricted Fund Details The purpos¢ of ¢a¢h of the individu8lly-mot¢rial r¢siri¢i¢d fundg is sei oul in ihis %¢¢tion. Si Steph¥￿ J Film C'liib Fiind This fund represenis donation5 and grants received for ihe purpose of setting up and running a Film Club at 8t Stephen's for the b¢n¢lil of margiinalised groups such as ihe eldcrl>' and homeless. Si Si¥phvn J Roof Fund This fund represenis funds rdised (and eventually) grants received for the purwses of complete renewal of the main roof at st Stephen'5 Church. ,fT,ST E W Wri&.hi Fund This lund ¢oniains income received from ihe E W Wrighi endowmeni. ,fT.fT Mi.¥.$ion Hall F￿n<1 This fund contains income received from ihe Mission Hall endowment. 6(d) Endowmeni Fund Delail$ ,gT,ST E W Wrixhi Fund This is an expendable endom'meni fund conlainin&> a leuyacy received from the eslaie of EW Wrig)hi during the 1960s intended for the purrATrse of funding inlerior decoraiion of St Siephen s church building. Use of the inLome reLeived from the capiial is resiriaed io ihe siaied purrK)se. Ai the discreiion ofthe PCC, wan or of the capital may be used as income to be speni on the same pur￿)Se. ,g7',gl' MiJiiun Hcill This 18 a ￿rmanent endom'ment fund containing the &%8ets of the"Charit>' for a Mission Hall. in the ELclesiastical Parish of St Siephen with S( Thom￿. Shepherd-5 Bush. in the London Boroubh of Harnmersmiih, regulated by conve)'ance dated S, June 1917" -1-he object of this C'harit) is to fund or ontribut¢ towards lh¢ provision of land or buildings lo iK us¢d for furth¢ring th¢ r¢ligious and oth¢r Lharilable work of Ihe Church of Enbiland in (he Parish. The PCC is the appoinied manabiing truslee olthe Charity. During 2020. the Diocese granted perniission for ihese restricted funds to be transferred and put towards ihe funding of the works on the Church roof. st stephen and St Thofflas Chuth 2020 AnnualReport & Financial Staternents 15 FIXED ASSETS 7(a) TaThgible Assets 2020 2019 Gain ILoss 2019 35 Bloemfontein Avenue 850.000 850.000 850.000 Gl¢be Flal, Church Hail & Rooms 1.458.IM)O 1.458.000 1.458.000 Totsl Tangible Assets 2J08.IMM 2J08.000 2J08.000 The value of the invcstmenl prO￿rtY al i5 Bloemfonlein Avenue was obiained by valuation carried out by th¢ PCC'S ¢ontrya¢i¢d property Tnanag¢r in ?016. The Glebe Flat and Church Hall & R(K)ms are contiguous &ssets within the curtilage of St Stephen's Church, and are church property. The ¢omparaiive values for ihe ￿Valued fixed asseis have been adjusied in ac¢ordan¢e wi¢h FRS I O? 7(b) Inve$imenis The valuation at 31112120, as nolified by ihe Diocese. as Custodian Trustee of the Mission Hall Charity, was as follow5.. 2020 2019 1151.0 I sh