2021-12-31-accounts

All Souls Church

St. Margarets-on-Thames

Annual Report and Accounts Year Ended 31[st] December 2021

Registered charity number 1133773 Northcote Road, St Margarets, TW1 1PB

Contents

	APCM Minutes 2021	3-5
	Annual report 2021	6-14
	o Vicar’s Report	6-9
	o PCC and electoral roll reports	9
	o Safeguarding Report	9-10
	o Fabric Report	10
	o Reference and Administrative Details	11
	o Structure, Governance and Management	11-13
	o Responsibilities and Approval	13
	o Risk Management	14
	o Reserves Policy	14
	Financial Review 2021	15-29
	o Commentary on 2021 Finances	15-16
	o Independent Examiner's Report to the PCC (David Howard Ltd)	17-18
	o Annual Accounts for the period 1st Jan 2021 to 31st Dec 2021	19-29
	 Statement of Financial Activities (“SOFA”)	19
	 Statement of Financial Position as at 31 December 2021	20
	 Note 1 – Accounting policies	21-22
	 Notes 2-4 – Analysis of incoming resources	23
	 Note 5 – Analysis of resources expended	24
	 Note 6-9 – Staffing & Taxation	25
	 Note 10 – Tangible Assets	26
	 Note 11 – Debtors and Prepayments	27
	 Note 12 – Restricted Funds and Investments	27
	 Note 13 – Liabilities	27
	 Note 14a – Movement in Funds	28
	 Note 14b – Movement in Funds	29

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Minutes from 2021 APCM – April 13[th] , 2021 Held remotely via Zoom due to Covid-19 restrictions

1. Apologies

(Received via Churshsuite): Aileen Yule, Debbie Cryan, William Davidson, Kristina Dobele, Judith Flannigan, Beryl Gay, Katherine Morgan, Nick Rhodes.

2. Present:

Hannah Bowring, Rosalie Callway, Ben Causley, Maf Cavill, Sue Cavill, Gareth Colgan, Marcus Cutler, Adrian Davies, Cath Davies, Phil Davies, Rache Davies, Edel Erickson, Nasrin Ghezloo, Tom Johnson, Sian Knight, Tim Knight, Shelagh Lonergan, Kenny McQuarrie, Linz Nolan, Linda Northern, David Rowe, Davina Rowe, Tim Stephens, Esther Sweetman, Charles Tapson, Claire Wedderburn, Mark Wing, Sue Wing, Jon Wooden.

3. Welcome

EE gave a welcome and Sue Cavill opened in prayer

4. Minutes & Matters arising from 2020

• The minutes from October 2020 were approved.

• There were no matters arising

• The meeting was reminded that all the detailed reports and finalised accounts were in the annual report document circulated before the meeting.

5. Election of Churchwardens

• JW advised that there was no election of Church Wardens and stated that:

• DW and EE had agreed to remain as Church Wardens.

• They had done a fantastic job on behalf of the church, in particular for their involvement in the interview process for our new vicar and all the additional responsibilities they had taken on during the interregnum.

• There were no other nominees, therefore DW and EE were elected.

6. PCC

• DR advised that there were two spaces for new PCC appointments for the three-year period to follow.

• Both had already been nominated, seconded and agreed to stand: Hannah Bowring and Tom Johnson.

• David stated that these were the only nominations and so the APCM attendees were asked to approve these.

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PCC Members;

• David Rowe (Churchwarden & co-Chair)

• Edel Erickson (Churchwarden & co-Chair)

• Tim Knight

• Charles Tapson (Deanery Synod rep)

• Maf Cavill (Deanery Synod rep)

• Lindsay Nolan

• Eva Thorne

• Nick Rhodes

• Debbie Braun

• Katherine Merrifield

• Toby Wilmer

• Debbie Cryan

• Tim Plyming

• Hannah Bowring*

• Tom Johnson*

• Phil Davies (co-opted – Treasurer)**

• Jon Wooden (LLM – non-voting)**

Elected as part of this meeting *PCC members – non-trustees

7. PCC Secretary

DR also asked for the minutes to record that the PCC had already appointed a Secretary for 2021, this is Linz Nolan and they are grateful for her efficiency thus far.

8. Church Treasurer

• DR advised that Tim Stevens had now stood down as church treasurer after a number of years. He was thanked for his hard work over this time.

• DR advised that Phil Davies who has been serving on the Finance Committee has agreed to become the Treasurer – this was not formally an election as it is a PCC appointment and so this was for information only.

9. Appointment of Independent Examiner

• The meeting agreed to continue with D Howard as the Independent Examiner and provider of payroll services to the church, although agreed that the PCC could explore the possibility of appointing a new Independent Examiner for future accounts, in case better value could be sought.

10.Election of Sidespeople

• Sidespeople (All Souls’ welcome and hospitality team). The same team were appointed and Linz Nolan was thanked for leading it.

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11.Reports

Electoral Roll

• There are currently 152 people on the electoral roll.

Finance Report – Tim Stephens (retiring Treasurer)

• Tim began by thanking all those who had contributed to the final accounts including PD and JW as well as all those who have financially contributed.

• Expenditure for the year had been down c£27k which roughly equated to the lower hall rental of £27k.

• Highlights were that:

• giving had remained steady,

• expenditure was up a little due to lots of building work and Soul Journey II,

• the decrease in the staff team which reduced spend,

• some expected maintenance which was not completed resulted in lower spend than forecast,

• not accounting for loss of income relating to COVID we have a healthy bank balance due to the legacy gift, but income is lower than we would like.

• TS concluded that with a request for prayer and wisdom in relation to church spending going forward.

• DR added that attendees may consider looking at the accounts on more detail outside of the meeting and that it would be good for people to see where their giving goes.

• EE expressed further thanks to TS and PD.

Churchwardens’ Report (David Rowe)

• DW advised that as the papers for the meeting had been issues earlier in the day, people may not have had a chance to review it but that the Church Wardens report has been sent electronically and people should look at it if they can.

• Two key areas were highlighted:

• Change; and

• Vision

• We are grateful to God for all that he has been doing at All Souls and grateful for His faithfulness

12.Closing

• EE asked if there were any AOBs, none were raised, and the meeting was concluded.

• Hannah Bowring closed in prayer.

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Parochial Church Council of All Souls Church, St Margaret's Annual report and accounts 31st December 2021

Vicar’s report & overview of the year

Background

All Souls Church, St Margaret's is a Church of England congregation rooted in the local community of north St Margaret’s, the Ivybridge Estate and South Isleworth. The church began 2021 in vacancy. Reverend Joe Sellers was installed as Vicar of All Souls Church on 21 April 2021 and began his ministry the following Sunday. Joe is supported in leadership of the Church by two Licensed Lay Ministers (Rachel Wooden & Jon Wooden), a small paid staff and a range of volunteer teams who oversee various aspects of the church's life and work. The Church Wardens and Parochial Church Council provide oversight as charity trustees.

Vision and Mission

All Souls Church Vision Statement:

“We aim to nurture what God has given us here to be an increasingly effective hub for our local communities, giving people of every age the opportunity to experience the transforming love and forgiveness of God in Jesus through the Spirit for themselves and encouraging one another to be agents for transformation in the wider world.”

Our mission:

• to provide a spiritual home, teaching, encouragement and support for church-goers

• to enable appropriate Christian outreach to those who wouldn’t call themselves Christians

• to provide support, Christian love and compassion to those in need in our local communities

• to support the work of Christians around the world in spreading the love of Christ

Achievements in 2021

A summary of some of the main achievements of All Souls Church in 2021:

1. Regathering the community after successive pandemic lockdowns.

• In common with many organisations and charities during the pandemic, the church’s expression of community was impacted by the associated restrictions. We began 2021 with our gatherings held remotely, with a small team broadcasting to the wider community via Facebook.

• Moving online allowed for some innovative forms of engagement, with a particular highlight being the daily video reflections during Lent with contributions from a wide range people.

• From the end of March, gatherings resumed in the Church building with a range of restrictions in place. Morning services were supplemented from May with a new regular evening service. From June, monthly Monday Communion services resumed. Alongside these gatherings, weekly prayer meetings continued on zoom and the Beta small group community gathered fortnightly.

• Teaching series focussed on the priorities and mission of Jesus in Mark chapters 1-3, the ‘Fruit of the Spirit’ and ‘Soul-Keeping’ – the art of caring for our souls, and recognising the impact of the past 18 months on how we are and who we are.

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• From there, the story of the year was the Church getting various aspects of its corporate life, ministry and mission restarted and energised

2. Identifying Priorities

• On arrival 3 priorities were identified for the remainder of 2021. Connect, heal, & discern. ‘Connect’, because of the widespread sense of ‘disconnect’ suffered over the previous 12 months. ‘Heal’ because it was clear that many in the church and in the local community had been deeply impacted by the pandemic. ‘Discern’, because after the twin disruptors of vacancy and pandemic it was clear All Souls Church was entering a new season, where there would be new needs and priorities for us to service.

• Beyond this, the Vicar, Wardens and PCC started to meet again to discuss the future of the Church, seeking to understanding who we are coming out of the pandemic, and to recognise the evolving needs of those in and around our parish, especially those most vulnerable.

• In October the PCC gathered for a vision morning in the church where we made some progress in identifying who we were, where we have come from, and what we will be looking for in seeking to describe our vision and strategy from 2022-25.

3. Children and Youth

• After our children and families worker left in February, a team of volunteers gathered to resume children’s activities during Sunday services from May. This was done with great success with the team running sessions under challenging circumstances which have nevertheless proved a real hit with children, earning the sincere appreciation of parents who had spent much of the past 12 months ‘home-schooling.’

• At the start of the year, the youth activities were at a low ebb, having suffered greatly from the impact of the lockdown and its associated restrictions. In July, meetings were held with young people and their parents to talk about hopes and plans for youth activities going forward.

• Off the back of this, new Sunday evening gatherings began from September, for years 7-10 and 1113 (each group meeting fortnightly). The initial aim was simply to help the young people to reconnect and gain a sense of ‘buy-in’ to the group. Pizza’s, games and discussions all contributed to this.

• A highlight of the youth programme was the ‘Laser Tag Social’ when 20 young people gathered in the Church for an evening of laser tag which was greatly enjoyed.

• It is anticipated that these gatherings are just the start of what we hope to develop in our ministry with young people in the coming years, and we are grateful to Dan, Maisie, Charles and others who have helped facilitate the youth work since its resumption in September.

4. Ivybridge

• The focus of our work on the Ivybridge Estate, a focal point of deprivation and need, was through All Souls foodbank, to which many members of the Church, and local community contributed. Under the leadership of our Community Project Manager, Liz, the foodbank continued to provide much-needed parcels to ‘guests’ who came, or were referred to, the bank which operated out of the Bridgelink Centre on the Ivybridge Estate.

• The provision of the foodbank was enhanced by the community café which operated in conjunction and provided the opportunity for people to received pastoral support, a listening ear, and advice on where and how to access further support.

• At the end of November, The Community Project Manager left her role, and the decision was taken to suspend the foodbank referring those who sought help, in the meantime, to one of our 4 partnership foodbanks.

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• Special programmes were run on Ivybridge at Easter (when residents received packages including chocolate eggs and words of encouragement) and Christmas (when recent recipients of foodbank parcels received additional festive foods and toys for their children).

5. Pastoral visiting

• Pastoral visiting in the parish, particularly to the housebound, sick and hospitalised resumed following the restrictions of lockdown.

6. Schools

• With the arrival of a new vicar, All Souls was able to resume its role supporting the Blue School (primary) by running assemblies (online initially), staff prayer meetings, and pastoral support. Contact was made with Worple Primary School and Ivybridge Primary School with a view to resuming work with these schools.

7. Socials and other activities

• Social gatherings returned including, church picnics, women’s curry nights and men’s pub nights. In the light of the lengthy restrictions these were essential to rebuild relationships and begin dreaming again.

• In the Autumn we ran an ‘Alpha Taster’ night for those interested in investigating the Christian faith and a ‘Marriage MOT’ night for those who wanted to spend some time reflecting on their relationship in a relaxing setting.

8. Counting the cost

• It is clear that 2021 was a year impacted significantly by the COVID-19 pandemic. The year began in the throes of the Alpha-wave, the summer featured the ‘Delta wave,’ and December was impacted by the ‘Omicron wave’.

• The impact of these, along with 12 months of vacancy was seen in a significant drop in regular attendance to the Church. Comparing September 2019 and September 2021 showed an almost 50% drop in Sunday service attendance, albeit with a number of people ‘tuning-in’ online.

• There was also a negative impact on our finances with continued disruption to the hall-hiring (which provides much needed income) and a reduced number of regular ‘givers.’ In turn this made it difficult to replace staff lost during the last few years.

• As such is it, perhaps, not surprising that the church was unable to resume all of the activities it ran prior to lockdown. No least the Monday Club, Little Souls toddler group, and chaplaincy work on Ivybridge.

9. Hopes looking forward

• It was a great joy for the year to end with the Church able to once again celebrate Christmas in person, even amidst the Omicron wave. Christmas is a reminder of a new hope, offered by a baby, born in the darkest of times

• We ended the year encouraged and excited about what lies ahead, with a new vicar in place, a reopening of the life of the Church, and resumption of ministry to the local community.

• Despite the drop in numbers on Sundays we have seen around 20 new people join the Church this year, and there is great scope for developing our ministry and mission going forward in this new season

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• We trust in the love of our heavenly Father to carry us through the difficult times, the example of Jesus to inspire us to give of ourselves sacrificially for one another and those around us, and the energising presence of the Holy Spirit to equip for all he calls us to be and do in 2022.

Rev Joe Sellers Vicar of All Souls – April 2022

PCC Report

From April 2021, the PCC was made up of 11 elected members, 2 Deanery Synod Representatives, 2 Churchwardens & 1 Licensed Lay Minister. It is chaired by the churchwardens and has met seven times during 2021. Due to the Covid-19 pandemic, the majority of these meetings were conducted via Zoom.

In those meetings, the PCC has focussed its discussion mainly on the plans and preparation for a new incumbent, and following his arrival, the establishing of new ministries and a fresh vision for the church.

As well as discussing practical matters of Church life, each PCC meeting begins and ends with prayer.

Jon Wooden – Church Manager

Electoral Roll Report

The new electoral roll has 152 people, of whom 62 are resident outside the parish.

Jon Wooden - Electoral Roll Officer

Safeguarding Report

Every person has a value and dignity that comes directly from the creation of male and female in God’s own image and likeness. Christians see this potential as fulfilled by God’s re-creation of us in Christ. This implies a duty to value all people as bearing the image of God and therefore to protect them from harm.

• We accept and endorse the principles set out in ‘Safeguarding in the Diocese of London’.

• We commit ourselves to nurture, protect and safeguard all our members, particularly children, young people and vulnerable adults.

• We recognise that safeguarding is the responsibility of the whole church community.

• We undertake to exercise proper care in the selection, appointment, training and support of those working in both paid and voluntary positions with children or vulnerable adults, including the use of Disclosure and Barring Service (DBS) disclosures and making appropriate referrals to the Disclosure and Barring Service.

• We will respond without delay to concerns or allegations that a child or vulnerable adult may have been harmed, cooperating with the police and social care services in any investigation.

• We will challenge any abuse of power by anyone in a position of trust.

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• We will seek to offer pastoral care and support to anyone who has suffered abuse, developing with them appropriate pastoral support.

• We will seek to offer pastoral care and support, including supervision and referral to the proper authorities, to any member of our church community known to have offended against a child, young person or vulnerable adult.

The PCC of this Church last reviewed and agreed to approve the above policy on 25th May, 2021.

Katherine Merrifield is our overall Church Safeguarding Officer with a particular responsibility for children and young people. Eva Braun is the Church Safeguarding Officer for adults. Sue Cavill and Rachel Ward are the Church Children’s Champions.

Copies of “Safeguarding in the Diocese of London” and any parish guidelines and procedures are held by the parish office.

Safeguarding is a standing agenda item for PCC. A smaller safeguarding steering group meets termly to review processes and procedures. Joe regularly flags to the whole congregation the importance of safeguarding and reminds them of who the safeguarding officers are.

Katherine Merrifield – Church Safeguarding Officer for Children

Fabric Report

At the beginning of the year, ongoing repairs were made to the heating system in the main church, although it is anticipated that this may need a complete overhaul within the next few years.

In May 2021, we had our regular Quinquennial inspection as required by the Church of England. There were a number of items of maintenance that were identified as needing attention, and a plan has been drawn up to rectify these.

During 2021 we had our 5-year NICEIC electrical inspection, which required some minor remedial work to be undertaken.

In December, the wooden flooring in the halls were sanded and sealed to help keep them in good condition.

Jon Wooden, Church Manager

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Reference and Administrative Details

Charitable Status

• The Parochial Church Council of All Souls Church, St Margaret's has charitable status as a registered place of worship under the Charities Act 2011.

• It is also known as “All Souls Church” & as “All Souls Ivybridge”.

• Registered charity number 1133773

 All Souls Church Office Northcote Road St Margarets TW1 1PB 020 8891 6820

Banks

Barclays Bank plc CBF Church of England Deposit Fund 8 George Street CCLA Investment Management Richmond, Surrey Senator House TW9 1JU 85 Queen Victoria Street London EC4V 4ET

Independent Examiner

David Howard Accountants

1 Park Road, Hampton Wick, Kingston upon Thames, KT1 4AS

Structure, Governance and Management

The Parochial Church Council

• The Parochial Church Council (PCC) is a corporate body, established by the Church of England. The PCC operates in accordance with the Parochial Church Council (Powers) Measure 1956 as amended and is required to co-operate with the Vicar in promoting the mission of the church in the parish. The PCC is constituted in accordance with Part II of the Church Representation Rules, contained in Schedule 3 to the Synodical Government Measure 1969 (No. 2) and consists of the clergy and churchwardens of the parish, together with a number of lay representatives elected at the Annual Parochial Church Meeting (APCM).

• Members of the congregation who are registered on the Electoral Roll are eligible to stand for election to the PCC.

• PCC members are charity trustees. The PCC must ensure compliance with charity law, church (ecclesiastical) law and exercise prudence and a duty of care.

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• The Trustees are provided with both written and verbal training at the beginning of their term of office in the roles, responsibilities and rights of PCC members.

• The PCC (members and non-voting attendees) who held office from 1[st] January 2021 until 31[st] December 2021 were:

Chairman: Reverend Joe Sellers (Vicar) (from April 2021) Churchwardens: David Rowe Edel Erickson Deanery Synod: Maf Cavill Charles Tapson Elected members: Tim Stephens – (co-opted Treasurer – until April 2021) Phil Davies – (co-opted Treasurer – from April 2021) Tim Knight Shelagh Lonergan (until April 2021) Gareth Colgan (until April 2021) Lindsay Nolan Debbie Braun Nick Rhodes Eva Thorne Katherine Merrifield Toby Willmer Debbie Cryan Tim Plyming Hannah Bowring (from April 2021) Tom Johnson (from April 2021) Lay Minister: Jon Wooden (non-voting attendee)

• PCC member – non-trustee

• The role of the PCC is to co-operate with The Incumbent to ensure that the resources of All Souls are used to promote, in the parish, the whole mission of the Church – pastoral, evangelistic, social and ecumenical. PCC decisions are taken following open discussion and in the context of prayer. In planning its activities, the PCC have considered the Charity Commission's guidance on public benefit and, in particular, specific guidance on charities for the advancement of religion.

• The PCC is responsible for preparing the Trustees report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.

• The PCC met 7 times during the calendar year.

• The PCC is chaired by the Vicar (or in their absence, by request or during interregnum by the vicechair – generally one of the Church Wardens). The Vicar is appointed by the Bishop of Kensington in accordance with the practices and procedures of the Church of England.

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Standing Committee

• This comprises the Vicar, Churchwardens, Treasurer, and Charles Tapson. It has the power and responsibility to transact the business of the PCC between its meetings, subject to the direction of the PCC.

PCC Sub-Committees and Teams

• Given its wide responsibilities, the PCC works with a number of other teams covering all aspects of parish life, including ministry and worship, children's and youth work, finance and administration. These teams work closely with the Vicar to bring matters of importance to the PCC for consideration.

• The PCC employs some staff but also makes significant use of volunteers to carry out its work.

Church Membership

• The electoral role updated for the 2022 APCM is 152

• Weekly attendance at Sunday church services in 2021 cannot be ascertained in any meaningful way due to the substantial disruption caused by the Covid pandemic, which meant that a number of services held during 2021 were online. Once in-person services resumed from April 2021, it was noted that a number of regular members of the church had since left, and the subsequent weekly numbers at church services were lower than the pre-pandemic level.

Responsibilities and Approval

The PCC are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales require the trustees to prepare financial statements for each year which give a true and fair view of the state of the affairs of the church and of the incoming resources and application of resources, of the church for that period. In preparing the financial statements, the trustees are required to:

• Select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

• Make judgements and accounting estimates that are reasonable and prudent;

• State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in business.

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the church’s transactions and disclose with reasonable accuracy at any time the financial position of the church and that enable them to ensure that the financial statements comply with the Charities Act 2011, Church Accounting Regulations 2006 and Charities SORP (FRS102). They are also responsible for safeguarding the assets of the church and hence for taking reasonable steps for the prevention and detection of fraud and other regularities.

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Risk Management

• The PCC has reviewed the major risks to which the church is exposed and has considered types of risk, potential impact, likelihood of occurrence and means of mitigating these risks. Exposure to risk is reviewed by the PCC on a regular basis.

Reserves Policy

• It is PCC policy to maintain sufficient unrestricted cash balances to meet near term expenditure, including any emergencies that may arise from time to time. In practice this means that we normally need to maintain a General Fund cash balance of at least six weeks essential expenditure.

• Whilst balances may occasionally fall below this level, when this occurs the position is reviewed promptly and remedial action taken within a reasonable time.

• It is our policy to invest any cash balances not required in the short-term in appropriate investment vehicles that match our needs for access, provide a competitive rate of interest and match our ethical investment policy.

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Financial Review 2021

Commentary on 2021 finances

Overview

In the midst of the uncertainties of more lockdowns at the start of 2021, the PCC had sought to maintain reserves and keep income at similar levels to those in the previous year but with an expectation that costs would exceed income and that the reserves were available to keep investing in the life of the church.

Overall income did reduce, reflecting the people who have relocated during the pandemic and the challenges welcoming new members while our doors were closed. However this was partly offset by a rise in halls hire as groups were able to return to using our spaces.

We were however also able to control expenditure closely and therefore costs came in lower than in 2020. This was partly due to the one-off costs of the Soul Journey weekend away in the prior year but also a significant drop in staff salaries throughout 2021

So as expected, total income was less than expenditure by £15,014 resulting in a fall in reserves although this is a smaller deficit than in 2020. Looking forward to 2022, we are hoping to keep expenditure approximately in line with current levels but budgeted income does not match this. While our reserves are sufficient to maintain the full life of the church in the current circumstances, the PCC will continue to encourage generosity in giving, as well as the best utilisation of the church premises as possible to generate income.

Income

The total unrestricted income in 2021 decreased to £183,094 (2020: £207,937).

Several factors resulted in this outcome:

• Regular voluntary giving by members of All Souls reduced to £112,860 (2020 £125,871). This decrease reflects the pressures on personal finances caused by the pandemic as well as the impact of members moving to new churches during the year.

• Unrestricted one-off gifts and donations decreased by to £6,976 compared with £9,818 in 2020.

• This was offset by the increase in Income from charitable activities where hall rentals increased to £62,225 (2020: £50,211) as reduced restrictions allowed great use of our halls.

Restricted income fell by £17k, to £28,461 (2020: £45,780).

• Restricted Gifts and 'one-off' donations from congregation decreased to £3,266 (2020: £10,970)

• Ivybridge giving marginally decreased to £12,817 (2020 £13,880)

• Grants received decreased to £12,000 (2020: £20,500) due to fewer grants applications for Ivybridge funding.

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Expenditure

Total expenditure for All Souls in 2021 fell by 19% to £226,569 (from £280,981 in 2020). This expenditure change compared with 2020 stemmed from three main factors:

• The main reason was salary costs decreasing by £32k as the staff team reduced with the departure of the Children’s worker and Ivybridge Community Projects Manager in the year and the Church Administrator role not being filled until later in 2021.

• Reduced spend on maintenance of £20,334 (2020: £30,244) as there was less work to do on the roof this year although we used the opportunity to refurbish and renovate the church flat.

• Costs of £20,000 relating to the Sul journey weekend away in 2020 not repeating in 2021.

We were able to maintain our Diocesan Common Fund contributions at £89,460 to meet the target ‘full costs’ contribution plus 5% for the year.

Balance Sheet

At the year end, cash and bank balances totalled £219,699 (2020: £218,241). The majority of this cash balance relates to a one-off gift received in 2012 and is held in an interest-bearing deposit account.

In 2021 we closed the year with net unrestricted funds of £190,888 (2020: £210,229). We ended 2021 with £48,314 in restricted funds (2020: £43,988).

Plans for Future Periods

As we move into 2022, the economic outlook remains as uncertain as the last two years. It is likely that the cost of living crisis will have an impact on All Souls as everyone else and we will be required to continuing managing costs carefully. With the forecast levels of income, it is likely that we will require to draw on reserves in 2022 as we have predicted a further deficit on our unrestricted funds.

However, we continue to have a healthy level of reserves and hope to be able to use the remaining funds from the exceptional gift to do something intentional and impactful. We are very blessed that so many people have been able to maintain their giving given the pressures on finances, and we plan for the future in confidence that God will continue to uphold our mission to bring His kingdom in our part of London but also around the world. As we set out our vision for the next few years, we will continue to focus on the awareness of the need to increase regular congregation giving (including one off gifts), in order to sustain the increasing running costs of a healthy church.

The PCC remain extremely thankful and very appreciative of the generous giving especially in this year given the circumstances of the pandemic, which has continued to allow the church to provide resources for the congregation and the community.

Phil Davies, Treasurer - on behalf of the Finance Team

April 2022

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Independent Examiners' Report to the PCC of All Souls Church, St Margaret’s

I report to the trustees on my examination of the financial statements of All Souls Church, St Margaret’s (the charity) for the year ended 31 December 2021, which are set out on pages 06 to 29.

Responsibilities and basis of report

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

The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. 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.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts as per the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2019). I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me 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 financial statements do not accord with those records; or

• 3) the financial statements 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 financial statements to be reached.

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Signed: …………………..........................

David Howard Chartered Accountants 1 Park Road Hampton Wick Kingston upon Thames Surrey KT1 4AS

Dated:

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All Souls Church, St Margarets

Statement of financial activities (incorporating an income and expenditure account)

For the year ended 31 December 2021

Note Income from: 2 3 4 5 Reconciliation of funds: Net income / (expenditure) for the year Donations and legacies Total expenditure Charitable activities Church activities Charitable activities Church activities Investments Total income Expenditure on: Total funds carried forward Transfers between funds Net movement in funds Total funds brought forward	Unrestricted £ 119,892 63,116 86	Restricted £ 16,461 12,000 -	2021 Total £ 136,353 75,116 86 211,555 226,569 226,569 (15,014) - (15,014) 254,216 239,202	Unrestricted £ 151,468 55,716 753	2020 Restricted Total £ £ 25,280 176,748 20,500 76,216 - 753 45,780 253,717 29,863 280,981 29,863 280,981 15,917 (27,264) - - 15,917 (27,264) 28,071 281,480 43,988 254,216
	183,094	28,461		207,937
	202,435	24,134		251,118
	202,435	24,134		251,118
	(19,341) -	4,326 -		(43,181) -
	(19,341) 210,228	4,326 43,988		(43,181) 253,409
	190,888	48,314		210,228

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 14a to the financial statements.

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All Souls Church, St Margarets

Balance sheet

As at 31 December 2021

Note £ Fixed assets: 10 10 Current assets: 11 7,928 12 219,699 227,627 Liabilities: 13 (3,525) 14a Restricted funds Cash at bank and in hand Property - historic cost Tangible assets Unrestricted funds Parish funds Total net assets Total charity funds Debtors Creditors: amounts falling due within one year Net current assets	Note £ Fixed assets: 10 10 Current assets: 11 7,928 12 219,699 227,627 Liabilities: 13 (3,525) 14a Restricted funds Cash at bank and in hand Property - historic cost Tangible assets Unrestricted funds Parish funds Total net assets Total charity funds Debtors Creditors: amounts falling due within one year Net current assets	2021 £ £ 15,100 - 15,100 26,227 218,241 244,468 (5,352) 224,102 239,202 190,888 48,314 239,202	2020 £ 15,100 -
			15,100 239,116
	227,627 (3,525)
			254,216
			210,229 43,988
			254,216

Approved by the PCC and signed on their behalf by David Rowe (Church warden & Chairman)

7th March, 2022

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All Souls Church, St Margarets

Notes to the financial statements

For the year ended 31 December 2021

• 1 Accounting policies

a) Statutory information

All Souls Church, St Margarets-on-Thames is an unincorporated charity registered with the Charity Commission for England and Wales.

The registered office address is Northcote Road, St Margarets, TW1 1PB.

b) Basis of preparation

The financial statements have been prepared in accordance with 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 (FRS 102)” (as amended for accounting periods commencing from 1 January 2019).

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

Monetary amounts are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention except for the valuation of investment assets which are shown at market value. The financial statements include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body, nor those that are informal gatherings of church members.

c) Public benefit entity

The charity meets the definition of a public benefit entity under FRS 102.

d) Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

e) Income

The accounts are prepared on the accruals basis of accounting: income is recognised when receivable, except for donations of all kinds that are recognized when received ; income tax recoverable is recognized at the same time as the donation. Grants and donations are accounted for when paid over provided that the terms of the grant do not impose future performance related conditions on the PCC. All incoming resources are accounted for gross.

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All Souls Church, St Margarets

Notes to the financial statements

For the year ended 31 December 2021

• 1 Accounting policies (continued)

• f) Resources expended

Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding or constructive obligation on the PCC. The diocesan parish share is accounted for when due. Amounts received specifically for mission are dealt with as restricted funds. All other expenditure is recognized when it is payable and is accounted for including Value Added Tax

• g) Fund accounting

Unrestricted general funds represent funds that are not subject to any restrictions regarding their use and are available for application on the general purposes of the PCC. Unrestricted designated funds include funds which are not restricted but have been designated by the PCC for a specific purpose. Restricted funds represent (a) income from trusts or endowments which may be expended only on those restricted objects provided in terms of the trust or bequest, and (b) donations or grants received for a specific object or invited by the PCC for a specific object. The funds may only be expended on the specific object for which they were given. Any balance remaining unspent at the end of each year must be carried forward as a balance on that fund.

• h) Liabilities policy

Liabilities are recognised where there is an obligation to transfer economic benefits. The liability recognised is the amount that the Church anticipates it will pay to settle the debt or the amount it has received as an advance payment for goods or services it must provide. A provision for a liability is recognised only when: there is a present obligation at the reporting date as a result of a past event; it is probable that a transfer of economic benefit, usually in the form of cash, will be required in settlement; and the amount of the settlement ca n be estimated reliably. The provision will be measured at the best estimate of the settlement amount.

• i) Tangible fixed assets

• Consecrated and benefice property is not included in the accounts in accordance with Section 10 of the Charities Act 2011.

Movable church furnishings held by the vicar and churchwardens on special trust for the PCC and which require a faculty for disposal are inalienable property, listed in the church's inventory, which can be inspected (at any reasonable time). For a nything acquired prior to 2000 there is insufficient cost information available and therefore such assets are not valued in the financial statements.

Individual items of equipment with a purchase price of £750 or less are written off when the asset is acquired. Items of equipment used within the church are capitalised where the acquisition value exceeds £750. Depreciation is provided on these assets so as to write off their cost or valuation less any estimated residual value in equal instalments over the expected useful economic life of the asset as follows:

• Equipment

• 5 years

• Land and buildings are not depreciated as their useful life is deemed to be greater than 50 years and the buildings are maintained in a good state of repair, such that the residual value will not be less than the cost.

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All Souls Church, St Margarets

Notes to the financial statements

For the year ended 31 December 2021

For the year ended 31 December 2021	For the year ended 31 December 2021
2 Unrestricted £ 112,860 Collections - special services 56 6,976 Ivybridge Giving - - - 119,892 JRS Grant income Donations towards Soul Journey Gifts and 'one-off' donations from congregation Regular giving from congregation (incl gift aid) Income from donations and legacies		£ - 378 3,266 12,817 - - Restricted	2021 Total £ 112,860 434 10,242 12,817 - -	Unrestricted £ 125,871 260 9,818 - 11,695 3,824	2020 Total £ £ - 125,871 431 691 10,970 20,788 13,880 13,880 - 11,695 - 3,824 25,280 176,748 Restricted
	119,892	16,461	136,353	151,468

3 Unrestricted £ Little Souls income - Sub-total for activites for gener - Rental income (Halls, Flat) 62,225 Parochial fees & Events 832 Sub-total for church activities 63,057 Grants received - - 59 Sub-total for other income 59 63,116 4 Unrestricted £ 86 86 Income from investments Bank interest Other income Income for area dean admin support Total income from charitable activities Income from charitable activities	3 Unrestricted £ Little Souls income - Sub-total for activites for gener - Rental income (Halls, Flat) 62,225 Parochial fees & Events 832 Sub-total for church activities 63,057 Grants received - - 59 Sub-total for other income 59 63,116 4 Unrestricted £ 86 86 Income from investments Bank interest Other income Income for area dean admin support Total income from charitable activities Income from charitable activities	£ - Restricted	2021 Total £ -	Unrestricted £ 816	£ - Restricted	2020 Total £ 816
		- - -	- 62,225 832	816 50,211 619	- - -	816 50,211 619
	63,057 - - 59	- 12,000 - -	63,057 12,000 - 59	50,830 - 1,200 2,869	- 20,500 - -	50,830 20,500 1,200 2,869
	59	12,000	12,059	4,069	20,500	24,569
	63,116	12,000	75,116	55,716	20,500	76,216
	Unrestricted £ 86	£ - Restricted	2021 Total £ 86	Unrestricted £ 753	£ - Restricted	2020 Total £ 753
	86	-	86	753	-	753

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All Souls Church, St Margarets

Notes to the financial statements

For the year ended 31 December 2021

5 Analysis of Expenditure on Charitable Activities

Church activities Ministry costs Soul Journey Buildings and Utilities Administrative and communications Total resources expended Staff costs (note 6) Project costs	Unrestricted £ 41,838 108,982 - - 46,037 5,578	£ 17,804 - 5,867 - - 462 Restricted	2021 Total £ 59,643 108,982 5,867 - 46,037 6,040	Unrestricted £ 64,097 108,539 - 20,203 52,063 6,216	2020 Total £ £ 27,677 91,775 - 108,539 1,931 1,931 - 20,203 - 52,063 255 6,470 29,863 280,981 Restricted
	202,435	24,134	226,569	251,118

The cost of vicarage maintenance in 2021 was £6,012 (2020: £782), including a complete redecoration before the

• arrival of the new incumbent.

• Independent Examination fees were £900 in 2021 (2020: £900).

• Church maintenance costs of £20,334 (2020: £30,244) included renovation of the church hall flooring and repair /

• The accountant provided payroll and pension services costing £741 in 2021 (2020: £1,011).

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All Souls Church, St Margarets

Notes to the financial statements

For the year ended 31 December 2021

• 6 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel

Staff costs were as follows:

Employer’s contribution to defined contribution pension schemes Social security costs Salaries and wages Recruitment and staff training	2021 2020 £ £ 57,202 87,805 1,128 1,461 1,254 1,485 59 1,024 59,643 91,775

No employee earned more than £60,000 during the year (2020: nil).

The total employee benefits (including pension contributions and employer's national insurance) of the key management personnel were £30,828 (2020: £30,298).

2021: No PCC members were remunerated for any employment or services to the church. (2020: None)

Trustees' expenses represents the payment or reimbursement of travel and subsistence costs totalling £888 (2020: £2,772) incurred by 2 (2020: 2) trustees (one clergy) relating to travel and parking expenses, a percentage of home internet and telephone costs, subsistence, the purchase of sermon reference materials and reimbursement of items purchased for church use. The amount is lower than 2020 as there were no clergy for 4 months, and only one for 8 months.

7 Staff numbers

During the year, the PCC employed a Church Manager, Ivybridge Community Projects Manager, Lay Minister, Church Administrator, and a Children's Worker which are all part time roles. The average monthly number of employees was 2.3 (2020 - 5.4). This represents 1.72 full time equivalent members of staff (2020 - 2.91).

8 Related party transactions

There are no related party transactions to disclose for 2020 further to the payments to PCC members identified in note 6 above (2020: none).

Total unconditional donations from PCC members and related parties in 2021 amounted to £38,720 (2020: £40,191).

9 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

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All Souls Church, St Margarets

Notes to the financial statements

For the year ended 31 December 2021

For the year ended 31 December 2021
10 Tangible fixed assets At the end of the year Cost At the start of the year At the end of the year Disposals in year Eliminated on disposal At the end of the year Net book value Depreciation At the start of the year Charge for the year At the start of the year Additions in year	Studio and Halls £ 15,100 - -	Church Equipment £ 5,122 - -	Total £ 20,222 - -
	15,100	5,122	20,222
	- - -	5,122 - -	5,122 - -
	-	5,122	5,122
	15,100	-	15,100
	15,100	-	15,100

Historic note: Additions to tangible assets in 2017 comprised a valuation of the Studio and Halls due to a Diocesan requirement for them to be incorporated into the church accounts if the PCC members are the managing trustees for such property.

Under The PCC (Powers) Measure 1956 PCCs cannot own property (land or buildings). This means that the London Diocesan Fund will be the registered owner of any PCC property and the PCC will be the managing trustees. Despite this, the decision making power lies directly with the PCC which is at liberty to manage the property in line with its stated charitable aims and will receive the sale proceeds if the property is sold.

For accruals accounting , the two approaches which are deemed acceptable are the recording of historic cost or the recording of current value. As the PCC had no desire to inflate our accounts, it was recommended that we select historic cost as the basis. The Diocese has no requirement for us to depreciate these properties.

The historic construction costs have been assessed for the purposes of the accounts only and are based upon the current measured floor space and utilising building rates applicable c. 1910 (for the Studio) and in the late 1950’s (for the Halls).

The Studio is a free standing building within the grounds of All Souls Church. It is believed to have been erected in the early 20 th century and is built with solid 9” brick walls, a pitched timber and slate covered main roof with similarly constructed rear additions, timber windows and a suspended timber floor. Internally it provides a single open plan area with two small changing areas, now mainly used by Twickenham Academy of Dance, and an office, kitchenette and two WC s at the rear. The approximate original construction cost of the Studio, without a bill of quantities or drawings, is £1,600 (c. 1910).

The Halls were erected in the 1950’ s and built with concrete portal frames and felt covered ribbed concrete roofs, 11” brick walls fitted with Crittall single glazed windows, and solid wood block covered floors. Internally they provide (1) a small, lower height, hall and kitchen facility; (2) a meeting room formed out of previous changing rooms and toilets; (3) the full height main hall; (4) the former stage converted a decade ago into a separate activity space, with an under croft beneath, used as another activity area, and a boiler room off; and (5) ancillary toilets at the front of the main hall with a self contained flat above with external access from the courtyard at the side of the main hall. The approximate original construction cost of the Halls, without a bill of quantities, is £13,500 (c. 1950).

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All Souls Church, St Margarets

Notes to the financial statements

For the year ended 31 December 2021

11 Debtors and prepayments

Debtors and prepayments
Tax recoverable Rent receivable Other prepayments	Unrestricted 1,519 5,241 1,000 7,760	168 - - Restricted	2021 Total 1,687 5,241 1,000	Unrestricted 20,989 2,195 -	2020 Total 3,043 24,032 - 2,195 - - 3,043 26,227 Restricted
		168	7,928	23,184

12 Restricted funds and investments

Cash balances held for restricted purposes comprise of the following:

Funds within Ivybridge Bank Account restricted for Ivybridge Activities Funds within the PCC current account restricted for Ivybridge Activities Total restricted funds held as cash Funds held within the PCC current account restricted for the future employment of a youth / families worker	2021 2020 £ £ - 966 45,056 36,892 3,197 3,197 48,253 41,056

Unrestricted cash balances at 31 December 2021 amounted to £171,445 (2020: £177,185).

The majority of the cash balance at the year end is held in a deposit account in order to earn interest while plans are agreed for longer term investment and development activities. The balance on this deposit account at 31 December 2021 was £149,817 (2020: £149,739).

The PCC recognises its responsibility to use wisely the large capital sum it received in 2012 to further the work of the church and not simply to keep it in the bank. We plan to continue to spend this capital to seed further and future growth, whilst encouraging the members of All Souls to give increasingly generously so that regular income can replace this capital when it is spent.

13 Creditors: amounts falling due within one year

Trade creditors Accruals and deferred income	Unrestricted 2,518 900 3,418	107 - Restricted	2021 Total 2,625 900	Unrestricted 2,241 3,000	2020 Total 111 2,352 - 3,000 111 5,352 Restricted
		107	3,525	5,241

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All Souls Church, St Margarets

Notes to the financial statements

For the year ended 31 December 2021

14a Total restricted funds Total designated funds General funds Movements in funds (current year) Restricted funds: Ivybridge Designated funds: Unrestricted funds: Total funds Total unrestricted funds Financial reserve Buildings historic cost Foodbank Youth worker	At 1 January 2021 £ 36,435 4,356 3,197	Income & gains £ 24,967 3,494 -	Expenditure & losses £ (18,512) (5,622) -	Transfers £ - - -	At 31 December 2021 £ 42,890 2,227 3,197
	43,988	28,461	(24,134)	-	48,314
	25,000 15,100	- -	- -	- -	25,000 15,100
	40,100	-	-	-	40,100
	170,129	183,094	(202,435)	-	150,788
	210,229	183,094	(202,435)	-	190,888
	254,216	211,555	(226,569)	-	239,202

The narrative to explain the purpose of each fund is given at the foot of the note below.

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All Souls Church, St Margarets

Notes to the financial statements

For the year ended 31 December 2021

14b Movements in funds (prior year)

Movements in funds (prior year)
Total restricted funds Total designated funds General funds Total funds Ivybridge Buildings historic cost Youth worker Restricted funds: Foodbank Total unrestricted funds Unrestricted funds: Designated funds: Financial reserve	At 2 January 2020 £ 17,521 677 9,873	Income & gains £ 37,169 8,611 -	Expenditure & losses £ (18,764) (4,423) (6,676)	Transfers £ 509 (509) -	At 30 December 2020 £ 36,435 4,356 3,197
	28,071	45,780	(29,863)	-	43,988
	25,000 15,100	- -	- -	- -	25,000 15,100
	40,100	-	-	-	40,100
	213,309	207,937	(251,118)	-	170,129
	253,409	207,937	(251,118)	-	210,229
	281,480	253,717	(280,981)	-	254,216

Purposes of restricted funds

The Ivybridge funds are fund specifically given for the Church's work on the Ivybridge estate.

The Foodbank funds are those given towards supporting the Ivybridge foodbank.

Youth worker funds have been given for the employment of a youth / families worker.

Purposes of designated funds

Financial reserve represents the funds identified as the minumum reserves level required by the church.

Building historic costs represents the value of buildings held on the balance sheet which are not readily available as liquid funds.

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