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2022-12-31-accounts

Registered UK Charity No: 1134717

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF NORTH LAMBETH

TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF NORTH LAMBETH

CONTENTS

Page
Trustees' Annual Report 1 - 6
Independent Examiner's Report 7
Statement of Financial Activities 8
Balance Sheet 9
Notes to the Accounts 10 - 23

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF NORTH LAMBETH TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

The members of the Parochial Church Council (PCC) are pleased to present their report together with the unaudited financial statements of the PCC for the year ended 31 December 2022.

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011, the Charities Statement of Recommended Practice ("SORP (FRS 102)") applicable to charities preparing their report and financial statements in accordance with the Financial Reporting Standard applicable in the UK (FRS 102) (effective 1 January 2015).

Aim and purposes

The North Lambeth Parish PCC has the responsibility of working in the parish with the clergy in promoting the whole mission of the church - pastoral, evangelistic, social and ecumenical.

It also has maintenance responsibilities for St Anselm's Church, together with other properties – Havilland House, 28 Hayman's Point, three garages and a car park. Under a lease agreement signed with the Diocese in 2019, North Lambeth Parish also assumes responsibility for major external repairs for St Peter’s House, Vauxhall.

Objectives and activities

The PCC is committed to enabling as many people as possible to worship at its churches and to be part of the parish community of North Lambeth. In cooperation with the clergy, the PCC maintains an overview of its worship and other activities and makes suggestions on how they can best serve the existing congregation and benefit and involve others that live within or around the parish. The PCC's services and worship put faith into practice through prayer, the study of scripture, music and sacrament.

When planning its activities, the clergy and the PCC have considered the Charity Commission's guidance on public benefit and, in particular, the specific guidance for charities on the advancement of religion. The PCC aims to enable ordinary people to live out their faith as part of its parish community through:

To facilitate this work, it is important that the churches and other church properties are properly managed and maintained. The members of the PCC also believe that it is a valuable part of the church's mission to make the buildings available for use by the wider community, both to serve the community and offer a link between it and the church.

Achievements and performance

Worshipping Numbers: The congregation has seen sustained growth over 10 years and continues to represent the diverse community of Kennington-North Lambeth Parish. Overall the number of people worshipping in the Parish this year has remained steady, as has the number of people attending Parish educational courses. The number of young people attending worship in the parish is significant as are the resources we put into this important area of ministry.

Worship: A well as well-attended Sunday 8am and 10am Eucharist services, a weekly Thursday evening service was introduced in response to Congregation feedback and provides time for quiet mediative worship. Week time worship is also enabled through the provision of daily online reflections and prayers provided by clergy and some members of the congregation. These are also made available on church social media platforms. Sunday evening Compline has been gaining popularity with a diverse program of music to accompany this reflective style of worship.

Page 1

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF NORTH LAMBETH TRUSTEES' ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

Achievements and performance (continued)

Children and Families: Sunday School continues to attract an average of 25+ children per week and has returned to operating from the Pelican Nursery premises or outside the rear of which when the weather permits. Three teenagers have undertaken the volunteering element of their Duke of Edinburgh awards as Sunday School supervisors, modelling excellent behaviour to the younger children. Creche is also offered in the side room of the church.

Thursday morning toddler group, Church Mice is a locally very popular group made up of child minders and parents with their under 5s. Adults are offered coffee from the stall outside church, which is much appreciated. The group relies mainly on word of mouth recommendations and we often see friends of regulars appearing. An average week might see 10 children and their parents or carers but there are frequently spikes where many more appear.

As well as regular timetabled activities, children are encouraged to participate in more ad hoc initiatives, such as the interactive Advent Calendar, for which children designed daily Christmas-themed pictures and jokes for Advent 2022 and with which a daily video was created by the Rector and published via the WhatsApp group and on social media.

Ministering to children and families is especially helped by the jigsaw ministry principle: there is much overlap between Sunday School, Church Mice, school chaplaincy, hospital chaplaincy and Boys’ Brigade. The school chaplain takes two assemblies each week and outside this engages with parents and staff, as well as children and ministers to those of other faiths or none, as well as existing churchgoers. One afternoon a week is spent in the Evelina Children’s Hospital, covering three wards offering pastoral care to an average of 10 children and families a week.

Community: The church’s involvement in the life of the community continues to be strong and active including our youth outreach and local schools. Representing the Parish, the clergy continue to get involved in the community fulfilling a variety of differing and influential roles. This is reflected in the use of our spaces and involvement with the Pelican Nursery, as well as Change Up who look out for our marginalised young persons looking to start up their own businesses, based in St Anselm’s Hall. The Pelican Nursery, which is still offering some free bursary spaces for local parish children who could not otherwise afford it, continues to thrive and have healthy waiting lists for its nursery and baby nursery. Both sites were rated ‘Good’ in their most recent Ofsted reports. Central to responding to our calling here in North Lambeth is to be a church that is fully engaged in the life of parishioners, creating community and fostering healthy relationships.

Fete: With the kind permission of Mrs Welby, we held the parish fete in the gardens of Lambeth Palace as usual in 2022. It was a great success and the weather held for the day. We had around 2000 visitors through the gates and a good mixture of stalls, childrens’ activities, music and entertainment.

Music: The church has a Musical Director and since September 2022, an Assistant Musical Director also who both provide accompaniment for our regular services and rehearses our regular adult choir which leads music on Sunday mornings. They both lead Young Voices, an after-school children’s choir which sings for church services and other events. In September 2022 we started a Choral Scholarship program for local young people who sing with us in church on a Sunday. The St Anselm’s steel pan group has been steadily gaining repertoire and is now made easier by the church buying a set of steel pans for them to practise on.

Responsible Caring: As required by the Diocese, the PCC completed their Safeguarding Audit online in November 2018. There are currently 3 Parish Safeguarding Officers (PSOs), all of whom have been on a safeguarding course held by the Diocese. Their roles are to make sure we have a safe Church and to ensure our policies and practices concerning our children and vulnerable adults, and those who supervise them, are kept up to date.

Fairtrade Parish: Since we become a Fairtrade Parish a decade ago efforts have been made to ensure that this message gets across to the congregation. We have Fairtrade stalls at a number of key Parish events.

Volunteers: Contributions to parish life by congregational members are too numerous to mention individually, and include teaching Sunday School, organ playing, service preparation/reading/serving/leading intercessions, locking and unlocking buildings, running our annual fete, laundering linen, and organising sales, etc. There is an ongoing need to further develop ourselves as a living body by encouraging lay and non-paid participation in all spheres of ministry.

Page 2

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF NORTH LAMBETH TRUSTEES' ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

Achievements and performance (continued)

St Anselm’s Site Development: Progress has been made with Centenary Memorial Sunday School Trust having sold Centenary Hall and having made a decision in principle to invest the proceeds in the development of the site. Dow Jones Architects were appointed in March 2020 and have produced designs for the remodelling and upgrade of the interior of the Church. This design envisages a four storey tower being built within the church providing community rooms, toilets and offices. The plans have been costed and potential funds available from Centenary Hall will cover approximately half the cost of the full works. The Parish is pursuing alternate funding approaches, in conjunction with the Diocese in order to find a solution, which may involve phasing the development. Detailed design work on the full scheme, to obtain approval for changes to the Church from the Chancellor of the Diocese has been completed and submitted to Diocese for final advice.

The Parish continues to work with its selected development partner, Rocco Homes, to develop land to the rear of the church, Havilland House and the current vestry, toilet and Parish office. Rocco propose developing nine flats on the site and providing 270sqm of ground floor accommodation for the Parish as well as a premium of £950k currently, to mitigate the loss of income from Havilland House. The Parish has negotiated a Development Agreement and long-term lease with Rocco Homes which will require Diocesan approval. A Pastoral Measure has been granted by Church commissioners in order to build on the vestry part of the site. An application for planning permission was submitted in November 2021 and approved in December 2022 It is hoped that by September 2023 both Faculty and Full Planning (following the agreement of the Section 106) will be approved. This will allow the Pastoral Measure to take effect.

The Parish is considering a long-term tenant and partner for the top floor of St Anselm’s Hall and use of space in the rear of the development and the tower inside the church. In the interim, five of the units have been let to Dow Jones Architects at a rental of £12k per year from December 2021 and Change Up occupies the remainder of the units.

Financial review

The Statement of Financial Activities (SoFA) on page 8 shows a net surplus on the General Fund for the year of £26,841 (2021: £34,194 - Note 17). Unrestricted reserves stand at £89,477 at 31 December 2022 (2021: £62,636).

Net expenditure on designated funds amounted to £nil (2021: £nil), before net losses on investment assets of £8 (2021: net gains of £3,061). No investments were acquired or sold in the year. Designated reserves stand at £20,774 as at 31 December 2022 (2021: £20,782).

Total restricted fund balances stood at £80,058 as at 31 December 2022 (2021: £80,761) after losses on investments amounting to £356 (2021: gains of £1,048).

Reserves policy

It is PCC policy to maintain a balance on unrestricted funds, if possible, sufficient to support at least three months unrestricted payments, equivalent to some £65,000 during 2022. The long term aim is to be financially self sufficient with repaired and up to date buildings and, wherever possible, contributions to the Parish Support Fund. Following the overall surplus in 2022, driven by increased donations and reduced expenditure, as well as a fund simplification initiative, unrestricted funds now stand at £89,477. This is over the target and builds on significant improvements in recent years. The PCC is reliant on the continuing support of its congregation and other community contributors, and maximising property rentals.

Historically the PCC has had several designated funds intended to provide reserves for funding repairs to buildings or further shortfalls in the current account. It was decided in 2020 to simplify these funds to give a much simpler view to the PCC of funds and a much closer alignment of funds to bank accounts. Now that the unrestricted fund balance is meeting the target the PCC, with support from the finance committee, will look to further segment the funds to support reserves for longer term initiatives and investments.

The balances held in the Salamanca Trust Fund and the Deaconess Pearson Fund are restricted to offer bursaries to help with local educational needs and for supporting training needs for women's ministry respectively. Of the retained earmarked funds representing ongoing projects, the St Anselm's Development Fund stands at £18,204 and the St Mary’s Eco Church Fund at £7,506, while the Kennington Kitchen project is awaiting further developments.

Page 3

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF NORTH LAMBETH TRUSTEES' ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

Investment powers and policy

In accordance with the Church Representation Rules, the members of the PCC have the power to make any investment which they see fit.

Plans for future periods

The continued growth of our congregations, the strengthening of Christian education and the service we provide to one another, both in church and across the wider Parish, continues to be our main focus.

The PCC has advanced plans to implement its vision for a Jigsaw Ministry, which includes setting up of new congregations across the parish. As part of this commitment to grow the numbers who worship as part of the community, funding was sought from the Church of England Strategic Bid Fund to help the PCC reach out in this new way and a £25,000 interest free loan was received in August 2019.

The Centenary Memorial Sunday School completed on the sale of Centenary Hall in May 2020 and its trustees have agreed in consultation with the Charity Commission that the proceeds of sale should be used for the development of St Anselm’s interior to better service the needs of the congregation and those of current community users of Centenary Hall. This project began in earnest in 2021 and is likely to continue over the next four or five years.

As always, we look forward to being witnesses to the Gospel here in North Lambeth with real hope for the coming year, holding the two commandments close to our heart – to love the Lord our God with all our heart, with all our soul, mind and strength, most evidenced through the beauty of our worship; and to love our neighbour as ourselves, as we continually to look outward and serve the Parish.

Reference and administrative details

Charity number: 1134717
Principal office: 286 Kennington Road, Kennington, London SE11 5DU
PCC Secretary: James Collenette
Independent examiner: C J Lloyd
Bankers: NatWest Bank plc, Lambeth North Branch SE1 7HW

Page 4

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF NORTH LAMBETH TRUSTEES' ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

Trustees

The members of the PCC are the trustees of the charity for the purposes of charity law, and throughout this report are collectively referred to as the members of the PCC. The members of the PCC who served in office during the year and since the year end were as follows:

Key management personnel

Team Rector: Rev Canon Angus Aagaard (PCC Chair) Assistant Curate: Rev Dr Steve Davidson Pioneer Vicar (Eco-church): Rev Sharon Moughtin Children and Families' Minister: Suzette Aagaard

Clergy members of the PCC are remunerated through the Church of England, which is the effective controlling entity. Their remuneration is set by the Church.

Churchwardens: Susannah Wiltshire
Doris Amankawah (resigned 8 May 2022)
Tom Shakespeare
Representatives, Deanery Synod: Omowunmi Ladenika
Rosie Walter
Tekha Kidane
Other elected members: James Collenette
Greg Brown (Treasurer)
Lisa Mulley (resigned 16 April 2023)
Sarah Kennedy
Emma Addo-Nortey
David De Cruz
Kwaku Yeboah
John Hooton
Dominic James
Caroline Campbell
Rebecca Upson
Florence Biteghe
Amadine Marchal (appointed 8 May 2022)
Matilda Williams (appointed 8 May 2022)

Members of the PCC are either ex-officio or elected by the Annual Parochial Church Meeting (APCM) in accordance with the Church Representation Rules.

Page 5

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF NORTH LAMBETH TRUSTEES' ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

Governance and Management

The PCC is a corporate body established by the Church of England.

Governing document: The operations, structure and objectives of the PCC are laid down in accordance with the PCCs (Powers) Measure 1956 and Church Representation Rules as amended and replaced in January 2020.

Appointment of members of the PCC: Membership of the Area Councils consists of (ex-officio) the relevant Area bishop and archdeacon, the area deans and the lay-chairs of the deanery synods in the Area, and a number of members elected by the members of the deanery synods in the Area, voting by houses. The Council has no powers of co-option except that any assistant bishop serving in the Area may be invited to become a member.

Members of the PCC induction and training: New members of the PCC undergo orientation to brief them on their legal obligations under charity law, the content of the governing document, the PCC and decision making processes, recent financial performance of the charity and plans for future periods. Each member signs a Trustee Declaration as to their willingness to act and awareness of the organisation's objects as set out in the governing documents. Members of the PCC are encouraged to attend appropriate external training events where these will facilitate the understanding of their role.

Risk management : The members of the PCC examine the major risks that the PCC faces each financial year when preparing and updating their strategy. The PCC reviews its reserves policy on an annual basis to reflect the on-going concerns and needs in the parish and has established a Sustainability Group which is now reporting on emerging issues to the members. Financial sustainability is a major risk, managed by the maximisation of rental income and by the regular review of income sources and bank balances to ensure sufficient working capital is in place to meet payments as they fall due. Major non-financial risks are congregational decline and the safety of our members and indeed all users of our facilities, particularly children. The clergy engage continuously with members of the congregation and those of the wider parish community to keep church attendances high, and the appointed Parish Safeguarding Officers are scrupulous in their oversight of the PCC's caring responsibilities.

Structure

There were normally 6 meetings per year as is usual. The average attendance per meeting has been 20. Finance and Standing Committee meetings take place normally two weeks before each PCC meeting.

All the PCC meetings have been lively forums for discussion of Parish business, dedicated to the service of God and the community and trustees have no doubt that they will continue to be so.

Given its wide responsibilities, the PCC operates through a number of committees which meet between full meetings of the PCC:

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 direction given by the Council. It consists of ex officio clergy, church wardens, the PCC secretary and PCC lay chair.

Churches Together in North Lambeth Parish and District - Southbank Churches: The churches in North Lambeth covenanted some years ago to work together on various issues and for representatives of each of the churches to meet regularly.

Christian Aid Committee: The local ecumenical Christian Aid Committee, which promotes Christian Aid publicly, plans events and raises funds throughout each year, is informally related to Churches Together.

Approved by the PCC on 26 October 2023 and signed on its behalf by:

Angus Aagaard

…………………… Angus Aagaard Chair

Page 6

INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS AND TRUSTEES OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF NORTH LAMBETH

I report on the unaudited accounts of the Parochial Church Council (PCC) for the year ended 31 December 2022, which are set out on pages 8 to 22.

Respective responsibilities of the PCC and examiner

As trustees of the charity, the members of the PCC are responsible for the preparation of the accounts. The members of the Council 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.

It is my responsibility to:

Basis of independent examiner's report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the management committee concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in a full audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the next statement.

Independent examiner's statement

In connection with my examination, no matters have come to my attention:

have not been met; or

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

C J Lloyd

……………….........

C J Lloyd 1 Whytingham Road Tring Hertfordshire HP23 5JN

Date: 27 October 2023

Page 7

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF NORTH LAMBETH STATEMENT OF FINANCIAL ACTIVITIES (including an income and expenditure account) FOR THE YEAR ENDED 31 DECEMBER 2022

Notes
INCOME
Voluntary sources:
Donations and grants
2
Income from other sources:
Rental income
3
Income from charitable activities:
Related to the objects of the Church
4
Fundraising events
4
Investments:
Investment income
5
Total income
EXPENDITURE
Cost of raising funds
6
Expenditure on charitable activities
6
Total expenditure
Net expenditure before
transfers and investment gains
Gains/(Losses) on investments
10
Net movement in funds for the yea
7
Reconciliation of funds
Total funds brought forward
17
Total funds carried forward		 General
Funds
£
127,272
139,050
1,491
19,788
-		 Designated
Funds
£
-
-
-
-
-		 Restricted
Funds
£
293,115
-
-
5,468
-		 Total
2022
£
420,387
139,050
1,491
25,256
-		 Total
2021
£
251,965
135,766
2,784
36,285
-
287,601 - 298,583 586,184 426,800
9,624
251,136		 -
-		 -
298,930		 9,624
550,066		 6,194
394,757
260,760 - 298,930 559,690 400,951
26,841
-		 -
(8)		 (347)
(356)		 26,494
(364)		 25,849
4,109
26,841
62,636		 (8)
20,782		 (703)
80,761		 26,130
164,179		 29,958
134,221
89,477 20,774 80,058 190,309 164,179

The Statement of Financial Activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

There are no endowment funds.

The accompanying notes form part of these financial statements.

Page 8

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF NORTH LAMBETH BALANCE SHEET AS AT 31 DECEMBER 2022

Notes
Fixed assets
Tangible fixed assets
1.5
Investments
10
Current assets
Debtors
11
Cash at bank and in hand
Current liabilities
Creditors payable within one year
12
Net current assets
Net assets
The funds of the charity
Restricted income funds
13, 14
Unrestricted income funds:
General fund
13, 14
Designated Funds
13, 14
Total charity funds
13, 14		 2022
£
-
48,579		 2021
£
-
48,942
48,579 48,942
32,195
123,866		 38,757
107,789
156,061
(14,331)		 146,546
(31,309)
141,730 115,237
190,309 164,179
80,058
89,477
20,774		 62,636
20,782
80,761
190,309 164,179

Approved by the PCC on 26 October 2023 and signed on its behalf by:

Angus Aagaard ……………………….. Angus Aagaard Chair

The accompanying notes form part of these financial statements.

Page 9

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF NORTH LAMBETH NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022

1 Accounting policies

1.1 Basis of preparation

The accounts have been prepared in accordance with the Charities Statement of Recommended Practice ("SORP (FRS 102)"), Financial Reporting Standard 102, the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015.

The PCC meets the definition of a public benefit entity under FRS 102. 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 involving both unrestricted and restricted funds. They do not include the accounts of other church groups that owe their main affiliation to another body or those that are informal gatherings of church members.

Having reviewed the funding facilities available to the PCC, together with the expected ongoing congregational attendances and future property rental receipts, the trustees have a reasonable expectation that the PCC has adequate resources to continue its activities for the foreseeable future. Their review included the potential financial impact of the coronavirus pandemic and the possibility of future local lockdowns. In light of the latest available financial forecasts, the extensive compensatory measures already taken and the advanced plans in place to mitigate future restrictions, no material uncertainties were identified in this respect which would compromise ongoing operations.

Accordingly, the trustees continue to adopt the going concern basis in preparing the financial statements.

1.3 Income

Voluntary income and capital sources

Other income

Income from investments

Gains and losses on investments

Page 10

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF NORTH LAMBETH NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

1 Accounting policies (continued)

1.4 Volunteers and donated services and facilities

The value of services provided by volunteers is not incorporated into these financial statements as it is impractical to estimate such value.

Where services and facilities that would normally be purchased from its suppliers are provided to the charity as a donation, this contribution is included in the financial statements at an estimate based on the value of the contribution to the charity.

1.5 Expenditure

Grants and Quota

Other expenditure

All other expenditure is included in the statement of financial activities on an accruals basis and are allocated as follows:

1.6 Tangible fixed assets and depreciation

Consecrated, beneficed and inalienable property

Unconsecrated land and buildings

1.7 Financial instruments

The PCC only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments, including trade and other debtors and creditors, are initially recognised at transaction value and subsequently measured at their settlement value.

1.8 Investments

Investments are a form of basic financial instrument and are stated at the market value ruling at the balance sheet date. Investment income, realised and unrealised gains and losses on investments are dealt with in the Statement of Financial Activities (see note 1.4 above).

Page 11

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF NORTH LAMBETH NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

1 Accounting policies (continued)

1.9 Debtors

Rent and other debtors are recognised at the settlement amount due after any concessions or trade discounts offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.10 Cash and deposits

Cash in hand and deposits held with banks include cash and highly liquid short term investments.

1.11 Creditors and provisions

Creditors and provisions are recognised where the PCC has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party, and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

1.12 Funds structure

The PCC has a number of restricted income funds which represent donations, grants or other income received by the PCC or invited by the PCC for a specific object or purpose. They may only be expended on the specific object or purpose for which they were received or invited.

Unrestricted funds are the funds of the PCC that are not subject to any restriction regarding their use and may be expended by the PCC for any purposes consistent with its objects. They include the General Fund and any funds designated by the PCC for a particular purpose or particular purposes in the future.

2
Voluntary income
Donations
Covenants & Envelope Scheme
Collections
Grants
Duchy of Cornwall
Southwark Diocese
ABS Chaplaincy contribution
Organ Repair Fund
St Anselm's Development
Fresh Expressions: St Mary's Eco Church
South London Church Fund: Fuel Grant
Worship/Administration/Sundry		 General
Fund
£
44,706
7,864
750
40,800
17,000
-
-
-
2,456
13,696		 Designated
Funds
£
-
-
-
-
-
-
-
-
-
-		 Restricted
Funds
£
-
-
-
-
-
-
282,796
9,999
-
320		 Total
2022
£
44,706
7,864
750
40,800
17,000
-
282,796
9,999
2,456
14,016		 Total
2021
£
43,000
5,304
750
40,800
17,000
5,030
127,684
2,500
-
9,897
127,272 - 293,115 420,387 251,965

Page 12

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF NORTH LAMBETH NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Income from other sources
Rent and hire of land and buildings
Property rentals
Use of the Churches		 General
Fund
£
135,550
3,500		 Designated
Funds
£
-
-		 Restricted
Funds
£
-
-		 Total
2022
£
135,550
3,500		 Total
2021
£
135,106
660
139,050 - - 139,050 135,766

3 Income from other sources

4 Income from charitable activities

a) Activities related to the objects of the Church

Parish fees
Health Ministry
b) Fundraising events
Parish fete
Mission Giving		 1,036
455		 -
-		 -
-		 1,036
455		 2,489
295
1,491 - - 1,491 2,784
19,788
-		 -
-		 -
5,468		 19,788
5,468		 21,705
14,580
19,788 - 5,468 25,256 36,285

5 Investment income

All investment income is represented by bank deposit interest receivable and is accounted for in unrestricted General Funds.

Page 13

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF NORTH LAMBETH NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

6
Analysis of expenditure
Costs of raising funds
Parish fete
Parish fees
Charitable activities
Property – services, repairs & management
Church – services & utilities
Church – repairs & maintenance
Church development
St Mary's Eco Church
Quota
Chaplain, children and families minister
Clergy expenses
Youth Worker salaries and costs
Music salaries and costs
Parish expenses, education and worship
Missionary and charitable giving
Associate Rector - budget expenditure
Office Manager
Support costs
Governance costs
Finance costs
Total expenditure		 General
Fund
£
8,847
777		 Designated
Funds
£
-
-		 Restricted
Funds
£
-
-		 Total
2022
£
8,847
777		 Total
2021
£
4,327
1,867
9,624 - - 9,624 6,194
36,693
16,016
8,685
-
-
73,000
27,979
9,160
2,070
18,469
6,135
750
10,614
13,200
22,351
4,440
1,574		 -
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 -
-
-
292,216
2,342
-
-
-
-
-
-
4,372
-
-
-
-
-		 36,693
16,016
8,685
292,216
2,342
73,000
27,979
9,160
2,070
18,469
6,135
5,122
10,614
13,200
22,351
4,440
1,574		 29,995
13,791
22,981
144,211
2,971
70,000
28,000
10,371
444
14,544
7,637
1,704
-
16,000
26,188
4,440
1,480
251,136 - 298,930 550,066 394,757
260,760 - 298,930 559,690 400,951
2022
£		 2021
£

7 Net movement in funds This is stated after charging: Independent examination fee 1,110 1,110

Page 14

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF NORTH LAMBETH NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

8
Staff costs
Wages and salaries
Social Security costs
Pension contributions		 General
Fund
£
64,979
27
1,021		 Designated
Funds
£
-
-
-		 Restricted
Funds
£
-
-
-		 Total
2022
£
64,979
27
1,021		 Total
2021
£
52,300
-
984
66,027 - - 66,027 53,284

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

Church activities:
Associate Rector
Music directors
Office Manager
Finance Manager		 2022
Number
1
2
1
1		 2021
Number
-
2
1
1
5 4

During the year, one trustee (2021: three trustees) received payments for services – see note 16. Five trustees (2021: five) were reimbursed for out-of-pocket expenses totalling £10,371 (2021: £10,371), made up as follows:

Clergy expenses – hospitality, telephone, travel & cleaning
Parish expenses – education, mission & worship
Parish expenses – other
Youth Worship
Property services and repairs – St Anselm's Vicarage		 2022
£
7,868
-
142
2,070
2,866		 2021
£
8,792
437
1,142
-
-
12,946 10,371

9 Taxation

Due to its charitable status, the PCC is a tax-exempt entity. The members of the PCC are not aware of any matters which might prejudice the tax status of the PCC.

Page 15

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF NORTH LAMBETH NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

10
Fixed asset investments
Quoted investments:
Market value at 1 January 2022
Disposals
Gains on investment assets:
Interest or dividends reinvested
Net unrealised investment (losses)/gains
Market value at 31 December 2022
Historical cost at 31 December 2022
CCLA Investment Fund
M&G Charifund Accumulation Shares
CBF Accumulation Shares
CCLA Investment Fund
CBF Deposit Account
CofE Deposit Fund
11
Debtors
Rent debtors
Other debtors
Tax recoverable
Prepayments and accrued income
12
Creditors: amounts falling due within one year
South London Church Fund loan
Rent deposits
Parish fees
The Saint Peter's Vauxhall Mission Initiative
Other creditors
Other taxes & social security
Accruals and prepaid income
The following investments represent more than 5% of the		 £
£
48,942
-
1,214
(1,577)
(363)
48,579
28,637
Holding
66
119
2022
net assets of the PCC at 31		 £
£
44,833
-
780
3,329
4,109
48,942
29,593
Cost
Market value
£
£
5,178
19,090
567
6,318
21,208
21,487
1,684
1,684
28,637
48,579
2022
2021
£
£
6,500
-
-
63
8,362
14,194
17,333
24,500
32,195
38,757
-
11,000
200
200
8,102
7,325
-
6,666
2,067
4,434
1,482
204
2,480
1,480
14,331
31,309
2021
December 2022:
28,637
2022
£
6,500
-
8,362
17,333
32,195
-
200
8,102
-
2,067
1,482
2,480
14,331

Page 16

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF NORTH LAMBETH NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

2022 2021
£ £

13 Analysis of charitable funds

Analysis of general fund movements:

General Fund
Clergy Discretionary Fund		 Balance at
1 January
2022
£
62,400
236		 Incoming
resources
£
286,251
1,350		 Resources Investment
expended gains/(losses)
£
£
(260,010)
-
(750)
-
(260,760)
-		 Resources Investment
expended gains/(losses)
£
£
(260,010)
-
(750)
-
(260,760)
-		 Balance at
31 December
Transfers
2022
£
£
-
88,641
-
836
-
89,477
62,636 287,601 (260,760) - -

The General Fund receives its income from various sources, including donations through the planned giving scheme, loose cash collections, rent income, income from hire of the buildings and from certain social activities. The fund is used to cover the PCC's normal expenses including the diocesan “Fairer Shares” quota assessment, clergy and lay workers' expenses, service and ministry costs, fundraising and governance, but not costs primarily associated with the buildings.

The Clergy Discretionary Fund is available to members of the clergy to provide support to parishioners and other members of the community in cases of financial hardship.

Analysis of designated fund movements:

Parish Reserve
Parish Development Fund
Parish Contingency Fund		 Balance at
1 January
2022
£
19,128
1,262
392		 Incoming
resources
£
-
-
-		 Resources Investment
expended gains/(losses)
£
£
-
(38)
-
23
-
7
-
(8)		 Resources Investment
expended gains/(losses)
£
£
-
(38)
-
23
-
7
-
(8)		 Balance at
31 December
Transfers
2022
£
£
-
19,090
-
1,285
-
399
-
20,774
20,782 - - (8) -

Page 17

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF NORTH LAMBETH NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

13 Analysis of charitable funds (continued)

Analysis of designated fund movements (continued):

The Parish Reserve may be used to cover costs associated with maintaining and running the ministry of North Lambeth Parish.

The Parish Development Fund was established to cover surveys, architects fees, legal fees and project management to get to the planning permission stage of the development of St Anselm's and St Peter's churches.

The Parish Contingency Fund is held to cover any shortfall on the bank current account.

Analysis of restricted fund movements:

Balance at
1 January
2022
£
Deaconess Pearson Smith
6,952
Salamanca House
21,209
Earmarked Funds:
St Ansel's Development Fund
27,624
Kennington Kitchen
81
St Mary's Eco Church
(471)
Mission Giving
25,366
80,761		 Balance at
1 January
2022
£
Deaconess Pearson Smith
6,952
Salamanca House
21,209
Earmarked Funds:
St Ansel's Development Fund
27,624
Kennington Kitchen
81
St Mary's Eco Church
(471)
Mission Giving
25,366
80,761		 Incoming
resources
£
-
-
282,796
-
10,319
5,468		 Resources Investment
expended gains/(losses)
£
£
-
(634)
-
278
(292,216)
-
-
-
(2,342)
-
(4,372)
-
(298,930)
(356)		 Resources Investment
expended gains/(losses)
£
£
-
(634)
-
278
(292,216)
-
-
-
(2,342)
-
(4,372)
-
(298,930)
(356)		 Balance at
31 December
Transfers
2022
£
£
-
6,318
-
21,487
-
18,204
-
81
-
7,506
-
26,462
-
80,058
80,761 298,583 (298,930) (356) -

The Deaconess Pearson Smith Fund is restricted to supporting training needs for women's ministry.

The Salamanca House Fund is restricted to offering bursaries to help with local educational needs.

Earmarked Funds represent various donations which were received towards a variety of projects during the year and the majority of these were paid over to the respective causes. Some funds have been retained towards ongoing projects which are continuing into the next financial year; after consultations with parishioners, these have been consolidated into a single Mission Giving Fund for distribution at the discretion of the congregation.

Page 18

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF NORTH LAMBETH NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

14 Analysis of net assets between funds

Analysis of net assets between funds
General Funds:
General Reserve
Clergy Discretionary
Designated Funds:
Parish Reserve
Parish Development
Parish Contingency
Restricted Funds:
Deaconess Pearson Smith
Salamanca House
St Ansel's Development Fund
Other Earmarked Funds		 Investments
£
-
-
19,090
1,285
399
6,318
21,487
-
-		 Current

assets
£
102,972
836
-
-
-
-
-
18,204
34,049		 Current
liabilities
£
(14,331)
-
-
-
-
-
-
-
-		 Total
£
88,641
836
19,090
1,285
399
6,318
21,487
18,204
34,049
48,579 156,061 (14,331) 190,309

15 Commitments and contingent liabilities

There were no commitments or contingent liabilities at 31 December 2022 (2021: £nil).

16 Related party transactions

One trustee has been paid as part of the PCC's payroll during the year in her role as Children and Families' Minister. The members of the PCC have confirmed that they have had regard to the guidance issued by the Charity Commission regarding paying trustees for services. The members of the PCC, as a body, have decided that these services are beneficial to the PCC and have agreed that it is in the PCC's best interests to meet these payments.

Page 19

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF NORTH LAMBETH NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

17 Comparative figures by fund type - Income and expenditure

a) Consolidated Statement of Financial Activities

Notes
INCOME
Voluntary sources:
Donations and grants
17 b)
Income from other sources:
Rental income
Income from charitable activities:
Related to the objects of the Church
Fundraising events
Investments:
Investment income
Total income
EXPENDITURE
Cost of raising funds
Expenditure on charitable activities
17 c)
Total expenditure
Net income/(expenditure) before
transfers and investment gains
Gains on investments
18
Net movement in funds for the year
Reconciliation of funds
Total funds brought forward
18
Total funds carried forward		 General
Funds
£
116,751
135,766
2,784
21,705
-		 Designated
Funds
£
-
-
-
-		 Restricted
Funds
£
135,214
-
14,580
-		 Total
2021
£
251,965
135,766
2,784
36,285
-
277,006 - 149,794 426,800
6,194
236,618		 -
-		 -
158,139		 6,194
394,757
242,812 - 158,139 400,951
34,194
-		 -
3,061		 (8,345)
1,048		 25,849
4,109
34,194
28,442		 3,061
17,721		 (7,297)
88,058		 29,958
134,221
62,636 20,782 80,761 164,179

Page 20

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF NORTH LAMBETH NOTES TO THE ACCOUNTS (CONTINUED) AS AT 31 DECEMBER 2022

17 Comparative figures by fund type - Income and expenditure (continued)

b) Donations and grants

Donations
Covenants & Envelope Scheme
Collections
Grants
Duchy of Cornwall
Southwark Diocese
ABS Chaplaincy contribution
Organ Repair Fund
St Anselm's Development
Fresh Expressions: St Mary's Eco Church
Worship/Administration/Sundry		 General
Fund
£
43,000
5,304
750
40,800
17,000
9,897		 Designated
Funds
£
-
-
-
-
-
-		 Restricted
Funds
£
-
-
-
-
-
5,030
127,684
2,500
-		 Total
2021
£
43,000
5,304
750
40,800
17,000
5,030
127,684
2,500
9,897
116,751 - 135,214 251,965

c) Expenditure on charitable activities

Charitable activities
Property – services, repairs & management
Church – services & utilities
Church – repairs & maintenance
Church development
St Mary's Eco Church
Quota
Chaplain, children and families minister
Clergy expenses
Youth Worker salaries and costs
Music salaries and costs
Parish expenses, education and worship
Missionary and charitable giving
Parish Coordinator
Support costs
Governance costs
Finance costs		 General
Fund
£
29,995
13,791
12,978
70,000
28,000
10,371
444
14,544
7,637
750
16,000
26,188
4,440
1,480		 Designated
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Restricted
Funds
£
-
-
10,003
144,211
2,971
-
-
-
-
-
-
954
-
-
-
-		 Total
2021
£
29,995
13,791
22,981
144,211
2,971
70,000
28,000
10,371
444
14,544
7,637
1,704
16,000
26,188
4,440
1,480
236,618 - 158,139 394,757

Page 21

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF NORTH LAMBETH NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

18 Comparative figures by fund type - Analysis of charitable funds

Balance at
1 January
Incoming
2021
resources
£
£
a) Analysis of general fund movements:
General Fund
27,275
274,256
Clergy Discretionary Fund
1,167
2,750
28,442
277,006
b) Analysis of designated fund movements:
Parish Reserve
16,067
-
Parish Development Fund
1,262
-
Parish Contingency Fund
392
-
17,721
-
c) Analysis of restricted fund movements:
Deaconess Pearson Smith
5,915
-
Salamanca House
21,198
-
Earmarked Funds:
Church Organ Repair Fund
4,973
5,030
St Anselm's Development Fu
44,151
127,684
Kennington Kitchen
81
-
St Mary's Eco Church
-
2,500
Mission Giving
11,740
14,580
88,058
149,794
Total funds
134,221
426,800		 Balance at
1 January
Incoming
2021
resources
£
£
a) Analysis of general fund movements:
General Fund
27,275
274,256
Clergy Discretionary Fund
1,167
2,750
28,442
277,006
b) Analysis of designated fund movements:
Parish Reserve
16,067
-
Parish Development Fund
1,262
-
Parish Contingency Fund
392
-
17,721
-
c) Analysis of restricted fund movements:
Deaconess Pearson Smith
5,915
-
Salamanca House
21,198
-
Earmarked Funds:
Church Organ Repair Fund
4,973
5,030
St Anselm's Development Fu
44,151
127,684
Kennington Kitchen
81
-
St Mary's Eco Church
-
2,500
Mission Giving
11,740
14,580
88,058
149,794
Total funds
134,221
426,800		 Incoming
resources
£
274,256
2,750		 Resources Investment
expended gains/(losses)
£
£
(239,131)
-
(3,681)
-
(242,812)
-
-
3,061
-
-
-
-
-
3,061
-
1,037
-
11
(10,003)
-
(144,211)
-
-
-
(2,971)
(954)
-
(158,139)
1,048
(400,951)
4,109		 Resources Investment
expended gains/(losses)
£
£
(239,131)
-
(3,681)
-
(242,812)
-
-
3,061
-
-
-
-
-
3,061
-
1,037
-
11
(10,003)
-
(144,211)
-
-
-
(2,971)
(954)
-
(158,139)
1,048
(400,951)
4,109		 Balance at
31 December
Transfers
2021
£
£
-
62,400
-
236
-
62,636
-
19,128
-
1,262
-
392
-
20,782
-
6,952
-
21,209
-
-
-
27,624
-
81
(471)
-
25,366
-
80,761
-
164,179
28,442 277,006 (242,812) - -
-
-
-		 3,061
-
-		 -
-
-
17,721 - - 3,061 -
-
-
(10,003)
(144,211)
-
(2,971)
(954)		 1,037
11
-
-
-
-		 -
-
-
-
-
-
88,058 149,794 (158,139) 1,048 -
134,221 426,800 (400,951) 4,109 -

Page 22

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF NORTH LAMBETH NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

19 Comparative figures by fund type -Analysis of net assets between funds

General Funds:
General Reserve
Clergy Discretionary
Designated Funds:
Parish Reserve
Parish Development
Parish Contingency
Restricted Funds:
Deaconess Pearson Smith
Salamanca House
St Anselm's Development Fund
Other Earmarked Funds		 Investments
£
-
-
19,128
1,262
392
6,952
21,209
-
-		 Current

assets
£
93,709
236
-
-
-
-
-
27,624
24,976		 Current
liabilities
£
(31,309)
-
-
-
-
-
-
-
-		 Total
£
62,400
236
19,128
1,262
392
6,952
21,209
27,624
24,976
48,943 146,545 (31,309) 164,179

Page 23