THE PARISH OF ST JAMES WITH ST PETER ISLINGTON
Annual Report
and
Financial Statements
of the
Parochial Church Council
for the year ended December 31, 2022
Registered Charity No. 1134267
INCUMBENT:
The Revd John Burniston St James’s Vicarage Arlington Square Islington LONDON N1 7DS
BANKERS:
Lloyds Bank plc 19/20 Upper Street Islington LONDON N1 0PJ
The Central Board of Finance of the Church of England, Senator House 85 Queen Victoria Street LONDON EC4V 4ET
INDEPENDENT EXAMINER:
Lisa Darby FCA Stewardship Accounts Examination 1 Lamb's Passage London EC1Y 8AB
Registered Charity No. 1134267
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THE PARISH CHURCH OF ST JAMES WITH ST PETER, ISLINGTON ANNUAL REPORT OF THE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED DECEMBER 31, 2022
Administrative Information
St James’ Church is situated in Prebend Street, Islington. It is part of the Diocese of London within the Church of England. The correspondence address is The Vicarage, 1a Arlington Square, Islington, London N1 7DS.
The Parochial Church Council (PCC) is a charity registered with the Charity Commission under registration number 1134267. Its governing document is the “Parochial Church Council Powers Measure (1956)” as amended and “Church Representation Rules”
PCC members who have served from 1 January, 2022 until the date this report was approved are:
are: |
||
|---|---|---|
| Incumbent: | The Revd John Burniston | Chairman |
| Representative on the Diocesan Synod; | ||
| elected to fill a clergy vacancy. | ||
| Wardens: | Mrs Hilary Roden | First elected at a Special Meeting of |
| Parishioners on July 26, 2015 and re- | ||
| elected at the Annual Meeting of | ||
| Parishioners on April 10, 2016; April 30, | ||
| 2017; April 15, 2018; April 07, | ||
| 2019;October 25, 2020, April 18,2021 | ||
| May 15, 2022 | ||
| Ms Isabel Nisbet | First elected at the APCM on April 30, | |
| 2017 and re-elected at the Annual Meeting | ||
| of Parishioners on April 15, 2018; April | ||
| 07, 2019; October 25,2020; April 18,2021 | ||
| May 15, 2022 | ||
| Representatives on | Two representatives elected for | a three year period of office from October 25, |
| the Deanery | 2020 but both resigned in 2021. | |
| Synod: | One vacancy currently filled by | Ms Isabel Nisbet. |
| Lay Members: | Elected for three years from the | APCM, October 25, 2020 |
| Ms Sinead Burniston | Children’s Champion. Re-elected at the | |
| APCM May 14, 2023 | ||
| Mrs Rosemary Ross | Resigned 2023 | |
| Re-elected for three years from the APCM May 15, 2022 | ||
| Ms Kerri Allen | Lay Vice Chair. Publicity Officer. | |
| Co-opted February 2022. Elected for three years at the APCM May 14, 2023 | ||
| Lebby Anafu | Safeguarding Officer | |
| Elected for thee years from the APCM May 14, 2023 | ||
| Norah Hodge | ||
| Susan Sorensen | Treasurer | |
| Victoria Bellamy | Accounts and administrative assistant | |
| Kenneth Thompson |
Registered Charity No. 1134267
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Standing Committee
This is the only committee required by law. It has power to transact the business of the PCC between its meetings, subject to any directions given by the Council. The members of the Standing Committee are the Vicar, Lay Vice Chair of the PCC, and the two Churchwardens. (The Secretary and the Hon Treasurer are members of the Standing Committee if they are elected to the PCC).
Structure, governance and management
The method of appointment of PCC members is set out in the Church Representation Rules. All Church attendees are encouraged to register on the Electoral Roll and stand for election to the PCC. As from the Annual Parochial Church Meeting April 2012, a third of the PCC are elected each year as resolved by the adjourned PCM in 2011. With effect from the APCM April 19, 2015 it was agreed that with an electoral roll that fluctuated around 100 people, lay representation on the PCC should remain stable at 9 members.
Objectives and activities
When planning our activities for the year, the incumbent, the Revd John Burniston, and St. James’ PCC have considered the Charity Commission's guidance on public benefit and in particular the specific guidance for the advancement of religion. In particular, we take responsibility for promoting the whole mission of the Church, pastoral, evangelistic, social and ecumenical, in the ecclesiastical parish. We also have maintenance responsibilities for the fabric of the Church and for the Church Hall complex at the corner of Packington Street.
Safeguarding
With regard to the PCC’s obligations to safeguard children and vulnerable adults, the members of the PCC confirm that they have complied with their duties under section 5 of the Safeguarding and Clergy Discipline Measure 2016.
General Data Protection Regulation
The PCC is committed to protecting the data privacy of all the persons and organisations with which it interacts. Personal information contained in this report and elsewhere (including names, addresses and telephone numbers) are stored securely in electronic and paper copy in the Parish Office. Any member who objects to personal information relating to him/her being stored in this manner should so inform, in writing, the PCC Secretary. The details of any member who does object will be omitted from future reports.
For further information on our Privacy Policy, please visit the link below or contact a member of the PCC.
http://stjamesislington.org/wp-content/uploads/2018/04/SJI-Privacy-notice-template-fornon-role-holders-March-2018.pdf
Registered Charity No. 1134267
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Church Attendance
| dance | |||||
|---|---|---|---|---|---|
| Statistics: | 2022 | 2021(1) | 2020 | 2019 | 2018 |
| Baptisms | 6 | 12 | 2 | 7 | 12 |
| First Holy Communions | 5 | 9 | 5 | 7 | |
| Confirmations | 1 | 0 | 0 | 0 | |
| Weddings | 2 | 6 | 2 | 4 | 5 |
| Funerals | 16 | 15 | 5 | 9 | 12 |
| Average Sunday attendance (adults) | 34 | 35 | 35 | 38 | 42 |
| Average Sunday attendance (u16s) | 8 | 10 | 12 | 14 | 14 |
| Average Sunday attendance (a+u16) | 42 | 45 | 47 | 52 | 56 |
| Average Communicants | 52 | 33 | 33 | 32 | 36 |
[1] No public worship in the church from 10 January 2021 – 7 March 2021 (incl) because of public health restrictions. Services streamed live from the church and available online.
- Review of the year 2022 Proceedings of the PCC
In 2022 the PCC had 9 meetings all via video link as this has continued to be the best way for all PCC members to attend the meetings. In February Lebby Anafu joined the PCC as he took up the role of Safeguarding Officer for St James’. Susan Sorensen has continued to support the PCC as Treasurer with our administrator, Vicky Bellamy, assisting with the bookkeeping. Tim Willis has taken on the paymaster duties previous carried out by Assistant Treasurer, Alastair Hume, and other jobs such as helping with the counting of collections have been taken on by members of the PCC.
The Organ project was discussed at every meeting in 2022. Work continued throughout the year with completion of the project delayed by the ill health of the contractor. However, by the end of the year, the completion of the project was anticipated to be in early April with a celebration for the opening planned for early May. The PCC have continued to keep a close watch on the costs and the project remained within budget.
The Islington Proms festival went ahead in September again (with a June concert in the Vicarage Garden during the summer) as the change of timing in 2021 had proved to be successful. Isabel Nisbet and the Proms Committee once again put in an enormous amount of work to the excellent programme of concerts and associated events which took place between 9th and 24[th] September.[. ] Isabel kept the PCC updated as the plans progressed and the budget was set for the 2022 season. Plans are underway for the 2023 season.
Maintaining the Ministry of St James as we move towards Fr John’s last year in post and into an Interregnum period has been a dominant theme of PCC meetings. Andy Rider, Dean of Mission, talked to the PCC in June about the vacancy process and taking time to consider St James’ mission and growth moving forwards. In October the Churchwardens also reported on their meeting with the Archdeacon and discussions regarding their concerns for the interregnum period.
The PCC continued to discuss aspects of the “Time to Dream” process at each meeting, considering how to manage and maintain the Church and Hall buildings, whether the Sunday School can be continued during the interregnum, and how to encourage more volunteers and potential PPC members to come forward to strengthen the team moving towards the interregnum.
Registered Charity No. 1134267
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The PCC received regular reports on the financial position of St James’s and agreed to maintain the level of our contribution to the Common Fund. The Church boiler had to be replaced in March but overall finances have held up well as users of the Church and Hall have returned.
St James’ was honoured to receive a sizeable bequest from a past and long standing member of the congregation. As a result, work to refurbish the pews was completed in July. The PCC was informed that an application had been made in November for a grant to replace the cooker in the Hall in the new year. A card reader was purchased to assist with ticket purchases for the Proms, and the PCC began to explore the possibility of a fixed card reader in Church for giving by card as the use of cash remains low after covid.
Other issues discussed included the rise in utility prices and how possible savings could be made, review of hire fees for both the Church and Hall and an update of St James’ website.
Statement of Trustees’ Responsibilities
Under the Charities Act 2011, the PCC is required to prepare a statement of accounts for each accounting year. Under section 133 of the Act, the PCC may prepare receipts and payments accounts provided the charity’s gross income does not exceed £250,000.
We are required to:
-
Select suitable accounting policies and apply them consistently
-
Make judgements and estimates that are reasonable and prudent
-
State whether the policies adopted are in accordance with the Church Accounting Regulations.
We are responsible for keeping proper accounting records. We also have a responsibility to safeguard the assets of the church and to take reasonable steps for the prevention of fraud and other irregularities.
Financial Review
For the financial year ended 31st December 2022 the PCC has agreed that it should now move to a “Receipts and Payments” (R&P) basis of accounting. This is because the annual income of the church is less than £250,000 which is the threshold for the requirement for “accruals” accounting. With the grants from the Cloudesley Trust and Wm Lambe Trust in 2021 for the restoration and digital enhancement of the organ, the income then exceeded the threshold. Following the implementation of the organ project, the normal church income level means that it can now produce more simplified accounts. The switch from accruals accounting to a receipts and payments basis necessitated the restatement of the 2021 accounts to enable an accurate comparison between years on the new basis. This means that the figures for 2021 shown in the 2022 statements are slightly different from the previous years.
The PCC monitors the financial performance of the church on the basis of its routine “normalised” income and expenditure, under the heading “Unrestricted General funds”. Exceptional expenditure on church and hall renewal, including the rebuilding of the organ, has been the subject of separate budgets, with planned expenditure charged to designated reserves in addition to the use of any specific grants received, referred to above.
Registered Charity No. 1134267
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With the application of R&P accounting the PCC no longer has to comply with Financial Reporting Standard 102 and the relevant Statement of Recommended Practice (SORP) to demonstrate that the church is a going concern. However, it should be noted that the church continues to hold significant assets comprising £134,650 in bank and cash deposits, and £285,913 in financial investments as at December 3, 2022. It also owns a leasehold interest in the church hall in a building owned by the London Diocese and leased to the Southern Housing Association. The value of the lease has hitherto been depreciated over a period of forty years, with a residual book value as at 31[st] December 2022 of approximately £80k. It is intended that the realistic market value of this leasehold property will be assessed during 2023.
The church continues to have access to the accumulated income from the permanent endowment held in the William Lambe Trust (WLT) for the restricted purpose of financing repairs and maintenance of the church building. The income fund stood at just under £167k at the end of 2020 which enabled £150k to contribute to the organ project. Further income has accumulated since then and now stands at just over £63k. The fund is managed and accounted for by the London Diocesan Fund (LDF) and is for the exclusive use of St James’. The church also has access to Cloudesley, another local charitable trust, which allocates grants to Church of England churches within the Islington Deanery for work to the church fabric and the maintenance of services. In recent years we have successfully applied to Cloudesley for significant contributions to the costs of new developments. Applications are invited twice a year and the PCC is extremely grateful to Cloudesley for their continued support.
Financial Performance 2022
The out-turn on the general unrestricted fund, before reserve fund transfers, was a surplus of receipts over payments of £8k compared with the underlying deficit of £16k reported in the previous year when income had been seriously reduced as a result of the covid-19 restrictions. The overall position however was an excess of expenditure over receipts of nearly £50k but this was because of the differential timing of the receipt of grants and expenditure on the organ project. In the previous year there was a surplus of cash receipts of £128k. Taking the two years together there was a surplus of receipts over payments of just over £78k which will be required to contribute to the balance of the organ costs incurred in 2023. The church again made its full contribution to the Diocesan common fund of £85,200 in 2022.
Although the value of our investments had increased by £15,473 in 2021, this was largely a result of a recovery in financial markets in the last quarter. Instability during 2022 resulted in a significant reduction, particularly in the bond market. The total value of £286k was approximately £4k less that the purchase value of equities and bonds in 2000. The structure of the overall portfolio will be reviewed to ensure that the return on the investment is optimised in the long term.
Charitable donations
The church continued to support a number of charitable causes including Christian Aid, the Church of England Children’s Society and local charities. The Pack-up project providing a weekly soup and sandwich kitchen for the street community resumed in the church hall when the Covid-19 restrictions were lifted, having provided a take-away service when the hall was closed. A number of charities hire the hall at reduced rates. Donations and grant aid totalling £7,652 were received in response to special appeals for disaster relief and Pack-up.
Registered Charity No. 1134267
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The oN'ernll re5eTh'es are broken do number of desigted TeseTres ill addiiion lo ihe undesi¥nad 8¢rtcrn] fun& Ln commoD Vlith. manv other panshes Sl J#mes' b4S be¢n subJ¢¢l W Pasiorai reor8anisa(ion and am8•matIon sTrcr the ye4Th. This Tesulted in th¢ acquisitson of a number of buildin85 ((( part 5haTCS in builthjy) at nil or negligible cosl their c05LS having prtsumjbly been Wytllen off manj years ago in the fornier ¢on5tituent pansbe$. A ponion of pr(Keeds of Se& erAbled the btuldin8 of a new church hall in 1992, developtsl as & joinl project Mith a bousing C14110ll. The bAl&nce of the capital proceeds have been held irj f¢11 Investmen with the inme from thcfjc illir61meuts aviiknble ror the church's miuion. The idenlific8tion of desi8naied reserve4 rcpresxts the CWTrnt plan forth¢ use of earnthrked resources for prti¢ulaT purpo. The PCC 11] ¢onttnut 10 ensule thai h.quid rex)urc¢8 5uffiricnt to mce¢ six month of exFttod re%enue ¢o$ts are held in the wjttsthcted re5m'¢s and u'ithia the ins'estsnent portfolio. Financial uLvesunents be liquidated &q and w.hen TequIred They aTC iN'ailoble for future use &5 dfflermined by the PCC, 'lll"ch will consider alba update the rge of optsons for rU[C capitsl speDdin8 on the bas of Q4Linqu¢tinial Reie'• - the next cff kin8 due in 2023- 4lld on any fuwre developmeni plans. tA)okfft8 the km8er impact of th¢ pth tO8ether current 8eopob'tic41 ¢hall¢nw 4nd un¢ffj)mties Ire likely lo atTect the fellI pcwtion of th¢ ¢huroh 2023 arJ b¢vond li is eucourdgin8 thal OlUntAry incomc TeCOVCTed a5 well as income from Church and hall lettings. although li 15 accep1 thi5 may be ditTiculi to sustsin in the li8bi of cost of iii¢rw¢s. E%'eTh effon will be m&4e to miti¥at¢ an). v¢e ¢ffects of the ¢conomic Situ1 on the ehwch's finarK trough active and ¢arefvl st¢wardthtP. Approfftl ts • draft by the sId8 Committe¢ of the Paroch1 Church COU11 on 3 July 2023. Sied Reyd John Burni51oD (ChaiTllWI) The Annual Fm•n¢iai Sth*ments ar¢ $¢1 oul m tk Appenth'x which fornb Jmrt of this An Report. Cbatt'ti. Yo. 1134267
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF
PAROCHIAL CHURCH COUNCIL OF ST JAMES WITH ST PETER ISLINGTON
I report to the trustees on my examination of the accounts of the Parochial Church Council of St James with St Peter Islington ('the charity') for the year ended 31 December 2022 on pages 10 to 15 following.
Responsibilities and basis of report
As the trustees of the charity, the members of the PCC 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 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.
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 cause to believe that in any material respect:
-
accounting records were not kept in accordance with section 130 of the 2011 Act; or
-
the accounts do not accord with the accounting records.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Lisa Darby FCA
Stewardship 1 Lamb's Passage LONDON EC1Y 8AB
Date: 26th July 2023
Page 9
PAROCHIAL CHURCH COUNCIL OF ST JAMES WITH ST PETER ISLINGTON
RECEIPTS AND PAYMENTS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2022
| Notes Income receipts Voluntary receipts 2(a) Fundraising income 2(b) Church activities 2(c) Investment and other income 2(d) Capital and similar receipts Total receipts Payments Church activities Clergy and staffing costs 3(a) 3(b) 3(c) 4 5 Capital expenses Total payments Transfers between funds Net movement in funds Cash funds as at last year end Cash funds at this year end A Net of receipts / (payments) before transfers Mission giving and donations Church running expenses Hall running costs Fundraising expenses |
General Designated Funds Funds £ £ 36,577 - - - 83,128 8,047 47,631 - 167,336 8,047 - - 167,336 8,047 101,115 - 33,211 6,888 25,015 - 159,341 6,888 - - - - 159,341 6,888 - - 159,341 6,888 7,995 1,159 15,786 (15,786) 23,781 (14,627) 12,542 25,588 36,323 10,961 Unrestricted Funds |
General Designated Funds Funds £ £ 36,577 - - - 83,128 8,047 47,631 - 167,336 8,047 - - 167,336 8,047 101,115 - 33,211 6,888 25,015 - 159,341 6,888 - - - - 159,341 6,888 - - 159,341 6,888 7,995 1,159 15,786 (15,786) 23,781 (14,627) 12,542 25,588 36,323 10,961 Unrestricted Funds |
Restricted Funds £ 7,652 - - - 7,652 - |
2022 £ 44,229 - 91,175 47,631 183,035 - |
2021 £ |
|---|---|---|---|---|---|
| 254,231 - 53,640 32,192 |
|||||
| 340,063 | |||||
| - | |||||
| 8,047 | 7,652 | 183,035 | 340,063 | ||
| - 6,888 - 6,888 - - 6,888 - 6,888 1,159 (15,786) (14,627) 25,588 10,961 |
- 63,789 - 63,789 - 2,541 66,330 - 66,330 (58,678) - (58,678) 146,044 87,366 |
101,115 103,888 25,015 230,018 - 2,541 232,559 - 232,559 (49,524) - (49,524) 184,174 134,650 |
101,409 101,685 8,725 |
||
| 211,819 - 657 |
|||||
| 212,476 | |||||
| - | |||||
| 212,476 | |||||
| 127,587 - |
|||||
| 127,587 56,586 |
|||||
| 184,173 |
The notes on pages 12 - 15 form part of these accounts.
Page 10
10.111 174J7S 1 24 7)44 7.2U •r• 1SJ.iX vw•ynb•b 2x1 2291 ¥tA•7 241 $17 F44T 115,W) 1U7
PAROCHIAL CHURCH COUNCIL OF ST JAMES WITH ST PETER ISLINGTON
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2022
1 Accounting policies
The accounts have been prepared on a receipts and payments basis and comprise a statement that shows the charity's receipts and payments, a statement that summarises the charity's assets and liabilities and related notes. The accountancy profession have determined that only accounts prepared in accordance with applicable accounting standards present a 'true and fair' view and, as these receipts and payments accounts have not (and cannot) be prepared in accordance with accounting standards, these accounts do not present (and are not intended to present) a 'true and fair' view of the charity's financial activities and state of affairs.
In the previous year the charity's income exceeded £250,000 and the charity was obliged to prepare its accounts on an accruals basis. As the charity's income is now less than £250,000, it has taken advantage of the option to prepare its accounts on a receipts and payments basis and the results reported previously have been restated; further information is given in note 8 below.
General funds are unrestricted funds which are available for use at the discretion of the PCC in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the PCC for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects.
| 2 a) Voluntary income Planned giving Collections at services Legacies Non-recurring grant to Pack-up project Donations for alms and votive candles Donations to Pack-up project Other donations Special appeals Gift aid recovered b) Fundraising income c) Fees for weddings and funerals Islington Proms concert programme Church lettings Church Hall lettings d) Investment and other income Property rental income Phone mast rental income Phone mast admin payment Phone mast electricity recharge Interest from cash deposits Dividends from CBF investment funds Totals |
Unrestricted Fun General funds £ 21,743 4,101 - - 676 - 4,011 - 6,046 36,577 - 2,888 - 13,626 66,614 83,128 12,288 14,344 1,147 10,126 215 9,511 47,631 167,336 |
ds Designated funds £ - - - - - - - - - - - - 8,047 - - 8,047 - - - - - - - 8,047 |
Restricted Funds £ - - - 2,500 - 4,475 - 677 - 7,652 - - - - - - - - - - - - - 7,652 |
Total 2022 £ 21,743 4,101 - 2,500 676 4,475 4,011 677 6,046 44,229 - 2,888 8,047 13,626 66,614 91,175 12,288 14,344 1,147 10,126 215 9,511 47,631 183,035 |
Total 2021 £ |
|---|---|---|---|---|---|
| 23,403 3,278 11,597 205,000 790 1,810 1,761 2,562 4,030 |
|||||
| 254,231 | |||||
| - 5,649 5,295 10,044 32,652 |
|||||
| 53,640 | |||||
| 11,264 14,300 - - 10 6,618 |
|||||
| 32,192 | |||||
| 340,063 |
Page 12
PAROCHIAL CHURCH COUNCIL OF ST JAMES WITH ST PETER ISLINGTON
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2022
| 3 a) Clergy and staffing costs Cost of payroll Ministry - parish share Clergy expenses Cost of training |
Unrestricted Fun General funds £ 14,615 85,200 1,300 - 101,115 |
ds Designated funds £ - - - - - |
Restricted Funds £ - - - - - |
Total 2022 £ 14,615 85,200 1,300 - 101,115 |
Total 2021 £ |
|---|---|---|---|---|---|
| 14,738 85,200 1,471 - |
|||||
| 101,409 |
Revd John Burniston, (the clergy member of the PCC) receives a stipend from the Diocese; the cost of this stipend is not included in the above payroll cost however it should be noted that some of the Parish share is used to help pay the stipends. Father John was provided with accommodation (which is customary for clergy) and relevant costs associated with this accommodation are disclosed in the above note. Father John incurred expenses whilst serving as clergy and these costs are also disclosed in the above note.
| b) Church running costs Organists fees Islington Proms costs General running costs Utilities - church usage admin charge re phone mast 2021 Electricity recharged for phone mast Insurance Administration Independent examiner's fee Diocesan fees for weddings and funerals Other legal and professional fees Routine church maintenance Organ restoration Other major repairs and equipment Depreciation of piano c) Hall running costs Utilities Admin costs Returned deposits for hall hire Routine hall maintenance Major repairs and equipment Depreciation charge Mission giving and donations Christian Aid Home mission: CofE Children's Society Secular relief charities - Arc Food bank North London Cares Pack-up project Total |
3,120 - 3,415 665 10,126 2,935 1,945 1,980 - 285 8,630 - 110 - 33,211 2,318 1,211 8,034 13,452 - - 25,015 - - - - - - 159,341 |
- 6,888 - - - - - - - - - - - - 6,888 - - - - - - - - - - - - 6,888 |
- - - - - - - - - - - 63,789 - - 63,789 - - - - - - - - - 281 135 2,125 2,541 66,330 |
3,120 6,888 3,415 665 10,126 2,935 1,945 1,980 - 285 8,630 63,789 110 - 103,888 2,318 1,211 8,034 13,452 - - 25,015 - - 281 135 2,125 2,541 232,559 |
3,800 5,481 3,351 1,292 (834) 2,668 4,108 1,920 3,476 2,082 3,968 62,486 7,887 - |
|---|---|---|---|---|---|
| 101,685 | |||||
| 1,655 976 - 5,765 329 - |
|||||
| 8,725 | |||||
| - - - - 657 |
|||||
| 657 | |||||
| 212,476 |
4 Mission giving and donations Christian Aid Home mission: CofE Children's Society Secular relief charities - Arc Food bank North London Cares Pack-up project
Page 13
PAROCHIAL CHURCH COUNCIL OF ST JAMES WITH ST PETER ISLINGTON
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2022
5 Transactions with related parties
No expenses paid to trustees other than those disclosed in note 3a.
6 Non-monetary resources
The church sponsored Pack-up project, providing weekly hot meals for the local street community, receives regular donations of fresh produce and perishable foodstuffs from the food charity Felix. Any surplus is donated to the Arc Centre, a local foodbank.
7 Movement on general, designated and restricted funds
| General funds Designated funds Bell Fund Equipment depreciation Hall depeciation Vincent Terrace Mission Hall William Schroeder Trust Proms concerts Restricted funds Organ Project Pack up Project Appeals Total funds |
Opening balance £ 249,059 4,372 2,603 185,340 2,216 1,428 1,696 197,655 (12,408) 2,728 1,749 (7,931) 438,783 |
Change of basis (note 8) £ (236,517) - - (172,157) - - 90 (172,067) 154,399 (393) (31) 153,975 (254,609) |
Receipts £ 167,336 - - - - - 8,047 8,047 - 6,975 677 7,652 183,035 |
Payments £ (159,341) - - - - - (6,888) (6,888) (63,789) (2,125) (416) (66,330) (232,559) |
Transfers £ 15,786 - (2,603) (13,183) - - - (15,786) - - - - - |
Closing balance £ 36,323 4,372 - - 2,216 1,428 2,945 |
|---|---|---|---|---|---|---|
| 10,961 | ||||||
| 78,202 7,185 1,979 |
||||||
| 87,366 | ||||||
| 134,650 |
Origin and use of funds
Bell Fund - donations from the bellringers from fees received for special events used for repair and maintenance of the bells Equipment - derived from non-cash settlement of depreciation provision and held for equipment replacement - see note on investments below Hall depeciation - derived from non-cash settlement of hall depreciation accumulated for future renewal or replacement of the facility - see note on Vincent Terrace Mission Hall - historic fund derived from previousy owned property
William Schroeder Trust - historic fund from a donation to be applied to support parishioners in need Church Renewal - funds set aside by PCC for current budgeted projects - not used in 2022
Hall Renewal fund - funds set aside by PCC for current budgeted projects - not used in 2022
Proms concerts - accumulated surpluses from annual Proms programme to be used for pump-priming future programmes Organ project - restricted grants to contribute to organ refurbishment
Pack up Project - restricted grants and donations for the weekly lunch provided for the local street community Appeals - restricted donations for specific purposes
It should be noted that the fund balances are in cash terms. In addition, the PCC holds investments valued at £285,913 as at 31 December 2022. These are liquid assets to be used as determined by the PCC for future major capital projects, developments in the church's mission and operating costs if required.
Page 14
PAROCHIAL CHURCH COUNCIL OF ST JAMES WITH ST PETER ISLINGTON
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2022
8 Reconciliation with previously reported funds
As explained in note 1 'Accounting Policies' , in the previous year the charity prepared its accounts using the accruals basis; in the current year the charity's income was less than £250,000 and the charity has taken advantage of the option to prepare its accounts on a receipts and payments basis. The comparatives presented in these accounts have been re-stated using the receipts and payments basis and a reconciliation with the reserves and results reported previously follows:
| Reconciliation of reserves Previously reported reserves, at 31 December Adjustments arising from use of receipts and payments basis: Exclusion of previously included fixed assets Exclusion of previously included investments Exclusion of previously included stock Exclusion of previously included debtors Exclusion of previously included creditors Re-stated reserves, at 31 December Change of basis Previously reported results Adjustments arising from use of receipts and payments basis: Previously capitalised expenditure, less depreciation, now expensed Excluded movements in investments resulting in the recognition of more / (less) income Excluded movements in stock resulting in the recognition of more / (less) income Excluded movements in debtors resulting in the recognition of more / (less) income Excluded movements in creditors resulting in the recognition of less / (more) expenditure Re-stated results Reconciliation of results |
2021 £ 438,783 (79,848) (324,119) (393) (14,093) 163,843 184,173 254,609 2021 £ (15,882) 6,565 (15,473) (393) (96) 152,867 127,588 |
2020 £ 454,666 (86,413) (308,646) - (13,997) 10,976 |
|---|---|---|
| 56,586 | ||
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