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2020-12-31-accounts

Charity number: 1134828

The Church of St Mary, Bourne Street, Pimlico

Annual report and financial statements of the Parochial Church Council for the year ended 31 December 2020

The Church of St Mary, Bourne Street, Pimlico

Annual Report of the Parochial Church Council for the year ended 31 December 2020

The Trustees of the Parochial Church Council present their report and the financial statements for the year ended 31 December 2020.

Aims and objectives

In accordance with the Parochial Church Councils (Powers) Measure 1956, the aim of the PCC is 'to co-operate with the incumbent in promoting in the ecclesiastical parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical'.

The aim of St Mary's remains what it has long been, to be a witness to the Catholic faith within the Church of England, drawing people (from a much wider area than its small geographical parish) to the worship of God through Catholic teaching and practice including, in particular, sacramental confession and spiritual direction, liturgy and fine music.

Events of 2020

The story of St Mary’s in 2020 was, of course, dominated by the Coronavirus Pandemic and our response to it under the leadership of the Vicar, Fr Andrew Walker, supported by the Honorary Assistant Curate, Fr Sam Korn, who is chaplain to St Mary Magdalene Academy, Islington and lives in the Presbytery. When public worship was suspended and churches were closed from 22 March, St Mary’s responded in a number of ways.

A very important strand during the initial lockdown was outreach to the homeless and vulnerable of central London. The Presbytery housekeeper, Gloria Gardner, instigated a project to provide them with meals, but it also involved sandwich makers based in Chelsea and cake makers from our own parish. At its height, it provided 250 meals each day, which were taken out to four drop off points near Victoria, Embankment, Waterloo and King’s Cross. Once lockdown was eased in July, alternative provision for the homeless and vulnerable reopened, and this project was therefore wound down. In recognition of its work during the lockdown, the parish was honoured by a very kind letter from the Lord Lieutenant of Greater London, Sir Ken Olisa. The project was resumed from October on a reduced scale, operating once a week and serving only the Victoria area.

For those on the Electoral Roll locked down at home, the Vicar sent out regular mailings ranging from special cards, old parish magazines, suggestions for daily prayer and even, in the last mailing, a packet of marigold seeds for recipients to sow. A demanding jigsaw of an old map of the local area was also made available to keep minds occupied, and a daily online image of one of the church’s splendid collection of vestments, ranging from the delicately embroidered to the outlandish, was also a feature.

Following episcopal direction, the Presbytery dining room served as an oratory for a period, where daily Mass continued and, indeed, the Triduum was celebrated with as much of the proper ritual as was possible in the circumstances. Luckily, there is direct communication between the church and presbytery so, whenever permitted, the daily Mass took place in its true and proper home. We were very fortunate that Richard Hills, our Organist, was living in the Presbytery, so that on Sundays and feast days the Mass was sung to plainsong and ended with a rousing voluntary. Fr Sam’s great technical knowhow enabled the live streaming of the daily Mass via Facebook.

In accordance with changed Government and Church of England guidelines, St Mary’s reopened for private prayer on 21 June and for public services on 5 July. Although services were able to resume, it was not possible to celebrate a High Mass because of the difficulty of maintaining social distancing with three sacred Ministers. Other activities, such as the parish drinks after the main Sunday Mass were not able to resume, except that the Walsingham Cell held a socially distanced meeting in church in August.

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The Church of St Mary, Bourne Street, Pimlico

Annual Report of the Parochial Church Council for the year ended 31 December 2020

During the first lockdown, the Organist acted as cantor for the Sung Masses. When the church reopened for services, we were still restricted to a sole cantor, but a member of the choir was able to fulfil that role, and was paid a premium of an extra 50% of the normal stipend, because the service was being streamed. The streamed services have been widely appreciated and the PCC was very conscious that a number of the congregation, particularly the elderly and frail and those living further away, would not feel comfortable coming to the church while the threat of the pandemic remains.

The 11.00 a.m. Sunday Sung Mass and Sung Masses on feast days have continued to be streamed throughout the pandemic; streaming of the daily Low Mass was discontinued from 1 August, but resumed during the second lockdown from 5 November to 2 December. Initially, the videos of services remained available via the website. Once professional choirs were allowed to sing in church, there was a discussion between the PCC and the Director of Music and the choir as to how to bring them back while continuing the live-streaming of the main Sunday service. Some musicians had professional anxieties about the live version being freely available after the service and there were financial concerns over the potential need to pay the musicians a premium. A solution was found whereby the full choir returned for the 11.00 a.m. Sung Mass from 2 November; it was agreed that there should be no premium, but that, if the choir had sung at the streamed service, it would no longer be available on-line after the Mass had finished, except to a number of regular worshippers who had difficulty watching it in real time who could apply for an access code to enable them to watch it until midnight of the following day. Fewer than 20 people have taken this up this option, several of whom live in different time zones.

It is difficult to estimate the numbers that access the streamed services, since people switch on and off and one ‘view’ may relate to a household of several people; however, the numbers have been fairly constant since March, with around 80 logging on when public worship has not been allowed and around half that number when the congregation has been present. When it was generally available after it had ended, it was thought that around 10% of the total views of the Sunday Mass took place then.

Apart from the streaming of services, some special podcasts were prepared by the musicians, staff and volunteers, e.g. for the Rosary, Stations of the Cross and a May devotion, which have attracted hundreds of views. This is an important innovation in advancing the mission of the parish and is an activity which will warrant consideration by the PCC when reflecting on lessons learned from the pandemic.

The equipment to improve the quality of the livestreams and to make it suitable for recently extending it to YouTube, as well as being available on the Facebook platform, has been made possible, as has other expenditure arising from the pandemic, by very generous financial help from the Julia and Hans Rausing Trust.

The PCC furloughed the Director of Music and the Organ Scholar for 100% of their time from 1 April. The proportion of furlough was reduced from 1 July; it was 50% for both in October, when their furlough ended. The PCC continued to pay both their full stipend throughout. Although members of the choir are self-employed for the purposes of singing at St Mary’s, we considered ourselves to have a moral obligation to our regular choir members. The PCC therefore decided to offer to pay choir members as if they had sung, if they needed it because their other sources of income had dried up. Four members of the choir opted for full payment, one for half payment. These payments continued from the start of lockdown to 1 November, services with a full choir resuming from 2 November.

Attendance at the main Sunday service, the High Mass, is usually between 80 and 100 on a normal Sunday, and it was in that range most Sundays before the first lockdown. When the church reopened, numbers at the main Sunday service, which was a Sung Mass with a single Minister, to maintain social distancing, numbers were generally in the range 40 to 65, with a rising trend over time, and a peak of 75 at the Midnight Mass, the maximum capacity of the church under Coronavirus conditions. From December, after the second lockdown, a system of ticketing was introduced for the Sunday 11 a.m. Sung Mass, to ensure that the capacity limit required to maintain social distancing was not breached.

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The Church of St Mary, Bourne Street, Pimlico

Annual Report of the Parochial Church Council for the year ended 31 December 2020

Before the lockdown, there were two other Sunday Masses and Sung Evensong and Benediction. Total attendance at these services was normally around 20-25. When the church reopened for services after the first lockdown, at first the Sung Mass was the only Sunday service, but from 27 September, the 9.00 a.m. Mass and Said Evensong and Benediction were reintroduced. The attendance at the Mass has normally been around 5; at the evening services 5-15. Total attendance at weekday services before and after the lockdown has been around 40, unless there is a weekday High or Sung Mass, when it can be more than double that number.

Despite the lockdown, progress continued to be made on the Pineapple Project. In the early part of 2020, public consultations were held, though only the first of these could be open to visitors, the others having to be virtual. Feedback was generally very positive and some useful suggestions were made that were incorporated into the main plans. The main changes were the shortening of the link corridor between the Presbytery and Church (to protect the amenity of the rear space to Bell House) and the ramping of the front main path (to secure proper disabled access). Over the summer, the architect and others worked with the Council planning team and planning permission was received on target in early October.

Over the year, we identified trusts and foundations whose funding criteria matched our profile. Broadly, these criteria were access alterations, community infrastructure, capital projects and improvements e.g. kitchens, and those with a specific religious interest. Based on these criteria, we prioritised those trusts which most closely matched our project. Where possible, we approached them individually to seek advice ahead of submitting a formal application, as a failed application often precludes reapplying for at least 12 months. Feedback regarding the project itself was relatively positive but a clear message emerged that now is not the time to apply and as a consequence we refined the fundraising strategy. Alongside this we explored Community Infrastructure Levy funds and continued to build the relationship with local funders such as Hyde Park Place, who gave the PCC a £20,000 grant in 2020 towards preparatory work on the project, for which we were very grateful.

As a result of the lockdown in March, the Victoria School of English (VSE), which for many years had used the church undercroft and choir room under licence from the PCC (and the Presbytery basement under a lease from St Mary’s Trust) to run a language school, were required to stop teaching classes. At their request, the VSE were granted a three-month rent holiday for April to June by both PCC and Trust. After some consideration of restarting teaching when the lockdown was eased, the VSE decided that prospects for reopening were not viable, and accordingly surrendered their licence (and lease) in mid-August, having paid no rent after March. Very fortunately, our neighbours, the Francis Holland School, a school for girls aged 4 to 18, were looking for space, and agreed to take over the church undercroft and Presbytery basement, but not the choir room, with effect from 1 September, on a 2-year arrangement, at least initially. Although, overall, they are paying a larger annual amount than the VSE had paid, the PCC will receive less, because use of the choir room is not included in the new arrangements. The loss to the PCC amounts to £5,840 per year, but St Mary’s Trust has agreed to make a grant up to that amount to the PCC if that causes financial difficulties for the PCC. The final outcome is very satisfactory for the parish, with the possibility of working together with the Francis Holland School over the Pineapple Project if that goes ahead.

Fr Bill Scott, much loved former Vicar of St Mary’s, died on 17 July. On retirement, he had returned to live close to St Mary’s, and he was a member of the St Mary’s College of Priests. His funeral obsequies, spread over three days were splendid, despite the restrictions on choirs, and involved the Bishops of London, Chichester and Fulham and a eulogy by Fr Paul Bagott. It is hoped to have a High Mass of Requiem for the repose of his soul on the first anniversary of his death, assuming Coronavirus restrictions have been lifted sufficiently by then.

The other members of the College of Priests apart from the Vicar & Fr Korn are Frs Michael Brotherton, Stuart Leamy, Peter McGeary, Victor Stock and Patrick Tuft, and they were joined in 2020 by Fr Mark Kenny, Chaplain to the Francis Holland School, at the Vicar’s invitation. We continue to be grateful for everything that they contribute to the life of St Mary’s.

The number on the Electoral Roll at the time of the APCM was 152, compared to 137 the previous year.

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The Church of St Mary, Bourne Street, Pimlico

Annual Report of the Parochial Church Council for the year ended 31 December 2020

Last year, we reported that new lighting had been installed in church and was functioning, but some work remained to be done to complete the scheme. Although some progress was made in 2020, some additional electrical work has been identified as highly desirable and this work is still not quite complete. Other work done during the year was the restoration of the ‘Spanish’ set of vestments. Work has started on restoring the ‘Gold’ set, as a memorial to Fr Bill.

The PCC held five meetings in 2020, including the formal meeting after the APCM to elect the PCC officers. The main issues discussed by the PCC during the year were:

The Standing Committee met much more frequently than normal, particularly during the first lockdown, using Zoom.

Safeguarding

The PCC continues to comply with the duty to have due regard to the House of Bishops’ Safeguarding Policy and Practice Guidance on safeguarding children and vulnerable adults. Safeguarding is a standing item on the PCC agenda.

In September, the PCC passed a resolution formally delegating responsibility for reporting incidents to the Diocesan Safeguarding Team to the Vicar and safeguarding officer and to delegate the onward reporting to the Charity Commission of any serious incident to the Diocesan Safeguarding Adviser and Diocesan Secretary.

Since March, there has been particular concern about housebound members of the congregation. The Vicar has telephoned people regularly as, to a lesser extent, have other members of the PCC. The safeguarding officer has frequently reminded the congregation to look out for each other at this particularly difficult time and to report any anxiety early to one of the priests or to her.

Kate Costeloe is the PCC’s Safeguarding Officer and Faith Allsop is the Children’s Champion.

Financial review

Overall, there was a surplus of £7,461 on the general fund in 2020, compared to a deficit of £2,518 in 2019. The general fund had net assets of £72,202 at the end of 2020, compared to £64,741 at the beginning of the year. Despite the impact of the pandemic, this is a much better outcome in financial terms than had been expected at the beginning of the year, when a deficit of some £12,000 had been forecast. The main financial impacts of the pandemic were:

Total general fund income in 2020 was £160,543 compared to £178,033 in 2019. The main reason was the fall in church lettings income, from £21,748 in 2019 to £11,385 in 2020. Total giving was slightly higher in 2020 than 2019, increasing to £116,840 from £115,432, but within those totals there were significant changes in the pattern of giving. Standing order donations subject to gift aid increased from £48,708 in 2019 to £58,513 in 2020 and one-off donations subject to gift aid increased from £14,058 to £26,336, whereas collection giving in gift aid envelopes fell from £28,889 in 2019 to £12,723 in 2020 and other collection giving fell from £8,733 to £2,654.

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The Church of St Mary, Bourne Street, Pimlico

Annual Report of the Parochial Church Council for the year ended 31 December 2020

General fund expenditure in 2020 was £153,082, down from £180,551 in 2019. The biggest fall was in general fund expenditure on music, down from £52,763 in 2019 to £38,861 in 2020, but most areas of expenditure saw a fall because of reduced activity as a result of the pandemic. There were two main areas where expenditure increased. Our requested Diocesan Common Fund contribution, which we paid in full, rose from £71,000 in 2019 to £72,500 in 2020. and our gas bill rose from £2,525 in 2019 to a more normal £5,683 in 2020 (a large part of our 2019 gas charge had been waived because a new smart meter turned out to be faulty, not recording any usage, and it took the supplier a very long time to sort this out).

At the beginning of 2020, the Fabric Fund (a designated fund in the unrestricted fund) had a deficit of £5,968 which was exactly covered by the promised donation, now received, towards the cost of the restoration of Our Lady of Peace, and the associated Gift Aid, as noted in last year’s report. Although the bulk of the work, and expenditure, on installing the new church lighting scheme had been completed in 2019, some still remained. It also become clear that some additional lighting needed to be installed to illuminate properly two Stations of the Cross near the main door, and that some further electrical work would be highly desirable. An anonymous donation of £2,300 was given towards the cost of illuminating the Stations, for which we are very grateful, and the H & K Levy Trust committed to funding the rest of the extra work, making its total grant to the lighting project £49,980, on the basis of current costs.

The purpose of the restricted funds is described in Note 15, and income, expenditure and the balance at the year-end for each of the funds is shown in Note 17. In 2020, the PCC set up four new restricted funds:

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The Church of St Mary, Bourne Street, Pimlico

Annual Report of the Parochial Church Council for the year ended 31 December 2020

During the year, £2,291 was raised through collections for other charities, compared to £2,915 in 2019 - Note 17 gives a breakdown. But this only includes money paid to the PCC restricted fund to pass on to the charity and not, for example, cheques made payable to the charity itself given in response to a PCC appeal. As in 2019, the PCC also made a £500 donation to Glass Door, a local project to help the homeless, out of the St Antony Fund for the Poor.

Overall, therefore, at the year end, the PCC had total net assets of £385,637, largely in restricted funds, compared to £111,355 at the end of 2019.

Although the PCC had a surplus on the general fund in 2020, that was only possible because of reduced expenditure on music and many other areas because of the church closure and lockdown. Once things return to normal, expenditure will return to normal levels. The PCC’s normal income to the general fund does not cover its normal general fund expenditure – its latest budget for 2021 shows a deficit of £14,000 for the year, but it is particularly difficult to make financial projections at present, given the uncertainties over the future of the restrictions on church services. The issue cannot really be addressed until things get back to normal, but, given the reserves of some £72,000, that is manageable.

The PCC operates internet banking, ensuring that there are two officers authorised to use it at any time, so that the operation of the account can always readily be independently checked. Currently, these are Kris Romanski, the Treasurer, and Shane Fletcher.

Reserves policy

The PCC's normal policy is not to maintain a reserve on the general (unrestricted) fund, except where necessary to meet known future expenditure, as its objective is that current expenditure should be met by current giving and other income. The PCC intends to use the current accrued surplus to help towards the objective of covering the costs of a full-time parish priest, as necessary. Restricted Funds are maintained for specific purposes, which are set out in Note 15 of the Financial Statements.

Risk management policy

The PCC has considered the major risks which it faces. In its opinion, the PCC has established systems which, under normal conditions, should allow those risks to be mitigated to an acceptable level in its day to day operations.

Structure, governance and management

The Parochial Church Council is a corporate body established by the Church of England. It operates under the Parochial Church Councils (Powers) Measure 1956. The PCC is a charity registered with the Charity Commission under number 1134828. The Annual Parochial Church Meeting (APCM) elects members of the PCC for three-year terms, a third of the members retiring each year. The Parish Priest, other clergy licensed to St Mary's, the Churchwardens, Deanery Synod Representatives and any Diocesan or General Synod Representatives are ex officio members of the PCC.

The following were members of the PCC during 2020 and up to the date of this report:

Fr Andrew Walker Chairman; ex officio (Vicar) Pauline Tuft ex officio (Churchwarden and Vice Chairman) David Richards ex officio (Churchwarden and Diocesan and Deanery Synods); Kate Costeloe Secretary; co-opted member Kris Romanski Treasurer; (until APCM 2022) Nigel Seed QC ex officio (Chancellor of the Diocese) until 31 January 2021 Jane Jenkins ex officio (Deanery Synod) until 25 October Shane Fletcher ex officio (Diocesan and Deanery Synods) (until 27 November 2021) Fr Sam Korn ex officio (Licensed Minister) from 20 January

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The Church of St Mary, Bourne Street, Pimlico

Annual Report of the Parochial Church Council for the year ended 31 December 2020

David Garrett elected member until 25 October; ex officio (Deanery Synod) thereafter (until APCM 2023) Andrew Probert elected member until 25 October; ex officio (Deanery Synod) thereafter (until APCM 2023) James Ritzema ex officio (Deanery Synod) from 25 October (until APCM 2023) Stephen Davis (until APCM 2022) Bill Goss (until APCM 2021) Sue Hutchinson (until APCM 2021) David Marchese (until APCM 2021) David Ritchie (until APCM 2021) Rosemary Sinclair (until APCM 2022) David Crickmore from 25 October (until APCM 2023) Michael Johnson from 25 October (until APCM 2023) David Parchot from 25 October (until APCM 2023) Peter Reed from 25 October (until APCM 2022) Toby Ward from 25 October (until APCM 2023) Mhairi Ellis co-opted member from 10 November Faith Allsop until 25 October Colin Black until 25 October

Cynthia Butterworth is the Electoral Roll Officer of the PCC.

There is a Standing Committee of the PCC, consisting of the Parish Priest, the Churchwardens, the Secretary and the Treasurer, which prepares agendas for full PCC meetings and deals with urgent business between PCC meetings.

Statement of the Trustees' responsibilities

The Trustees of the PCC are responsible for preparing the PCC Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Law applicable to charities in England and Wales requires the PCC's Trustees to prepare financial statements for each financial year which give a true and fair view of the charity and of the incoming resources and application of resources of the charity for that year. In preparing these financial statements, the PCC's Trustees are required to:

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. The Trustees are also responsible for safeguarding the assets of the PCC and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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The Church of St Mary, Bourne Street, Pimlico

Annual Report of the Parochial Church Council for the year ended 31 December 2020

Legal and administrative information

The full name of the parish is St Mary's, Bourne Street, Pimlico.

Charity registration number 1134828 Church address 30 Bourne Street London SW1W 8JJ Independent Examiner Grant Wells FCCA PG Lemon LLP Chartered Certified Accountants 127 High Street Hythe Kent CT21 5JJ Bankers National Westminster Bank Sloane Square Branch Unit 5, The Willett Buildings 2 Sloane Gardens London SW1W 8DL Virgin Money plc Jubilee House Gosforth Newcastle-upon-Tyne NE3 4PL

This report was approved by the PCC on 21 March 2021, and signed on its behalf by

The Rev’d Dr Andrew Walker Chairman

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The Church of St Mary, Bourne Street, Pimlico

Independent examiner's report to the PCC on the unaudited financial statements of The Church of St Mary, Bourne Street, Pimlico.

I report on the accounts of The Church of St Mary, Bourne Street, Pimlico for the year ended 31 December 2020 set out on pages 10 to 22.

Respective responsibilities of the PCC and independent examiner

As the charity's trustees you are responsible for the preparation of the accounts, you consider that the audit requirement of section 144(2) of the Charities Act 2011 (the 2011 Act) does not apply and that an independent examination is needed. It is my responsibility to examine the accounts under section 145 of the 2011 Act; to follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act, as amended; and to state whether particular matters have come to my attention.

Basis of independent examiner's statement

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 you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an 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 statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

(i) which gives me reasonable cause to believe that in any material respect the requirements:

Grant Wells FCCA Chartered Certified Accountant Independent examiner PG Lemon LLP 127 High Street Hythe Kent CT21 5JJ

Page 9

The Church of St Mary, Bourne Street, Pimlico

Statement of financial activities

For the year ended 31 December 2020

Unrestricted
Restricted
funds
funds
Notes
£
£
Income and endowments
Voluntary income
2
156,749
299,050
Activities for generating funds
3
14,053
20
Investment income
4
46
2,342
Church activities
5
4,491
-
Other income
6
1,249
5,780
Total income
176,588
307,192
Expenditure
Church activities
7
160,349
45,073
Raising funds
8
2,810
2,385
Total expenditure
163,159
47,458
Net income
13,429
259,734
Net incoming/(outgoing) resources before
other recognised gains and losses
13,429
259,734
Other recognised gains and losses
Gains on investment assets
-
1,119
Net movement in funds
13,429
260,853
Total funds brought forward
58,773
52,582
Total funds carried forward
72,202
313,435		 2020
Total
£
455,799
14,073
2,388
4,491
7,029
483,780
205,422
5,195
210,617
273,163
273,163
1,119
274,282
111,355
385,637		 2019
Total
£
243,850
30,525
808
2,328
23,909
301,420
334,683
9,034
343,717
)
(42,297
)
(42,297
-
)
(42,297
153,652
111,355

The notes on pages 12 to 22 form an integral part of these financial statements.

Page 10

The Church of St Mary, Bourne Street, Pimlico

Balance sheet

as at 31 December 2020

Notes
Fixed assets
Investments
11
Current assets
Stocks
12
Debtors
13
Cash at bank and in hand
Creditors: amounts falling
due within one year
14
Net current assets
Net assets
Funds
15 - 18
Restricted income funds
Unrestricted income funds
Total funds		 2020
£
£
66,178
-
68,508
269,582
338,090
)
(18,631
319,459
385,637
313,435
72,202
385,637		 2019
£
£
-
1,305
77,233
60,465
139,003
)
(27,648
111,355
111,355
52,582
58,773
111,355		 2019
£
£
-
1,305
77,233
60,465
139,003
)
(27,648
111,355
111,355
52,582
58,773
111,355
111,355
52,582
58,773
111,355

The financial statements were approved by the Parochial Church Council on 21 March 2021 and signed on its behalf by

The Rev'd Dr Andrew Walker Chairman

Kris Romanski Treasurer

The notes on pages 12 to 22 form an integral part of these financial statements.

Page 11

The Church of St Mary, Bourne Street, Pimlico

Notes to financial statements for the year ended 31 December 2020

1. Accounting policies

The principal accounting policies are summarised below.

1.1. Basis of accounting

The financial statements are prepared under the historical cost convention and in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

The Church of St Mary the Virgin, Pimlico, Parochial Church Council (the PCC) constitutes a public benefit entity as defined by FRS 102.

The trustees consider that there are no material uncertainties about the PCC's ability to continue as a going concern.

1.2. Fund accounting

The Unrestricted Funds (the General Fund and the Designated Fabric Fund) represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application to the general purposes of the PCC. Funds designated for a particular purpose by the PCC are also unrestricted but accounted for as a separate fund.

The Restricted Funds comprise amounts received from donors where their application is for a specific purpose.

The accounts include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body nor those that are informal gatherings of Church members.

1.3. Income recognition

Collections are recognised when received by or on behalf of the PCC.

Planned giving receivable under gift aid is recognised only when received.

Income tax recoverable on gift aid donations is recognised when the income is recognised.

Other donations, including candle box donations, are recognised when received.

Grants and legacies to the PCC are accounted for as soon as the PCC is notified of its legal entitlement and the amount due is quantifiable and its ultimate receipt by the PCC is reasonably certain.

Funds raised by fairs and similar events are accounted for gross when received.

Sales of books and CDs are accounted for gross when received.

Income from letting of church premises and use of facilities is recognised when the rental is due.

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

Gains and losses on investments

Realised gains or losses are those arising recognised when investments are sold. Unrealised gains are accounted for on revaluation of investments at 31 December.

1.4. Expenditure

Grants

Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding obligation on the PCC.

Activities directly relating to the work of the Church

The diocesan quota or parish share is accounted for when payable. Any quota unpaid at 31 December is provided for in these accounts as an operational (though not a legal) liability and is shown as a creditor in the Balance Sheet.

Page 12

The Church of St Mary, Bourne Street, Pimlico

Notes to financial statements

for the year ended 31 December 2020

1.5. Tangible fixed assets

Consecrated land and buildings and movable church furnishings

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

Other fixtures, fittings and office equipment

Equipment used or owned by the PCC is depreciated on a straight line basis over four years. Individual items of equipment with a purchase price of £2,000 or less are written off when the asset is acquired.

1.6. Investments

Investments held as fixed assets are revalued at mid-market value at the balance sheet date and the gain or loss taken to the statement of financial activities.

1.7. Current assets

Stock is valued at the lower of cost and net realisable value.

2. Voluntary income

Unrestricted
Restricted
funds
funds
£
£
Planned giving subject to Gift Aid
73,686
-
One-off Gift Aid donations
30,960
18,946
Gift Aid recoverable
26,162
4,737
Planned giving not subject to Gift Aid
3,341
-
Candle donations
426
-
Other donations not subject to Gift Aid
12,847
4,259
Collections at services
2,654
-
Grants from Trusts, etc.
6,309
120,000
Gift - Society of St Peter & St Paul
-
150,990
GASDS top up payments
364
118
Bequests
-
-
156,749
299,050		 2020
Total
£
73,686
49,906
30,899
3,341
426
17,106
2,654
126,309
150,990
482
-
455,799		 2019
Total
£
78,597
24,657
25,813
2,344
1,147
23,215
8,773
49,603
-
2,195
27,506
243,850

3.

Activities for generating funds

Unrestricted
Restricted
funds
funds
£
£
Bookstall
948
20
Church lettings
11,385
-
Food, drinks and ticket sales for Parish parties
1,720
-
14,053
20		 2020
Total
£
968
11,385
1,720
14,073		 2019
Total
£
470
21,748
8,307
30,525

Page 13

The Church of St Mary, Bourne Street, Pimlico

Notes to financial statements

for the year ended 31 December 2020

4.
Investment income
Unrestricted
Restricted
funds
funds
£
£
Interest on balance at bank
46
321
Income from UK listed investments
-
2,021
46
2,342
5.
Church activities
Unrestricted
funds
£
Fees from weddings and funerals
2,091
Sale of columbarium niches
2,400
4,491
6.
Other income
Unrestricted
Restricted
funds
funds
£
£
Listed Places of Worship Scheme VAT grant
1,248
-
Other fees
1
5,780
1,249
5,780		 2020
Total
£
367
2,021
2,388
2020
Total
£
2,091
2,400
4,491
2020
Total
£
1,248
5,781
7,029		 2019
Total
£
808
-
808
2019
Total
£
838
1,490
2,328
2019
Total
£
23,484
425
23,909

Page 14

The Church of St Mary, Bourne Street, Pimlico

Notes to financial statements

for the year ended 31 December 2020

7. Charitable activities

Unrestricted
Restricted
funds
funds
£
£
Missionary and charitable giving donations
-
702
Home missions and church societies
-
1,086
Ministry: Diocesan Common Fund
72,500
-
Other ministry costs
2,218
14,493
Church running and maintenance
36,982
-
Sacristy and candles
1,576
7,240
Music: Salaries, fees and expenses
38,161
13,498
Flowers
-
812
Office expenses, including parish administrator
8,483
270
Pinaapple project
-
6,972
Bank charges
429
-
160,349
45,073		 2020
Total
£
702
1,086
72,500
16,711
36,982
8,816
51,659
812
8,753
6,972
429
205,422		 2019
Total
£
2,179
2,187
71,000
5,083
164,192
15,822
58,876
2,175
12,614
-
555
334,683

8. Raising funds

Unrestricted
Restricted
funds
funds
£
£
Bookstall
120
-
Lunch and drinks party costs
2,164
-
Stewardship costs
526
2,385
2,810
2,385		 2020
Total
£
120
2,164
2,911
5,195		 2019
Total
£
445
8,443
146
9,034

9. Analysis of expenditure including allocation of support costs

The support costs have been allocated in their entirety to the unrestricted expenditure (church running and maintenance).

Direct Support 2020 2019
costs costs Total Total
£ £ £ £
Church running and maintenance 34,382 2,600 36,982 164,192
34,382 2,600 36,982 164,192
Independent examiner's remuneration 2,600 2,500

Page 15

The Church of St Mary, Bourne Street, Pimlico

Notes to financial statements for the year ended 31 December 2020

10. Staff costs
2020 2019
£ £
Salaries of lay staff 24,275 22,869

During the Year, the PCC employed a Director of Music, Organist and Organ Scholar (all part time).

As the PCC benefits from small employers' relief, there was no liability for any employer NICs.

Payments to PCC members

In 2020, the PCC paid £768 to Mhairi Ellis and £1,024 to Toby Ward while they were members of the PCC in relation to their duties in singing in St Mary's choir; they were paid on the same terms as other choir members. In 2019, the PCC had paid £1,458 to Fr Andrew Norwood towards his living expenses.

The only PCC member who received any expenses in 2020, other than reimbursement of costs incurred in purchasing goods or services required by the PCC, was Fr Andrew Walker, who received £1,299; a small, immaterial part of these expenses may have related to his duties as PCC Chairman. In 2019, he received £2,256, and Fr Norwood received £314.

Page 16

The Church of St Mary, Bourne Street, Pimlico

Notes to financial statements

for the year ended 31 December 2020

11.
Fixed asset investments
Listed
investments
£
Valuation
Additions
65,059
Revaluations
-
1,119
At 31 December 2020
66,178
Historical cost as at 31 December 2020
65,059		 Total
£
65,059
1,119
66,178
65,059

All fixed asset investments are held within the United Kingdom.

In January 2020, the Trustees of the Society of St Peter and St Paul decided to wind up the Society, and to transfer the net proceeds, by way of gift, to St. Mary's PCC. The Society's assets included several shareholdings; by the time the Society was ready to sell these shareholding their value had fallen very sharply as a result of the coronavirus pandemic. It was therefore decided that, rather than sell them, the shareholdings should be transferred to St. Mary's PCC. They are held jointly on trust and as nominees for the PCC by David Marchese and Kris Romanski, both Trustees of the PCC. David Marchese's declaration of Trust was executed on 17 April 2020, Kris Romanski's on 19 April; the latter date is therefore taken as the date of acquisition of the shareholdings.

The Table below provides information on these shareholdings:

Acquisition
value
Value at Unrealised
gain/(loss)
19.04.2020
31.12.2020
y/e 31.12.2020
£
£
£
AstraZeneca PLC - 225 US$ 0.25 Ordinary shares
17,933
16,479
)
(1,454
Diageo PLC - 1,586 28 101/128p Ordinary shares
42,996
45,645
2,649
Imperial Brands PLC - 264 10p Ordinary shares
4,130
4,054
)
(76
Total
65,059
66,178
1,119		 Acquisition
value
Value at Unrealised
gain/(loss)
19.04.2020
31.12.2020
y/e 31.12.2020
£
£
£
AstraZeneca PLC - 225 US$ 0.25 Ordinary shares
17,933
16,479
)
(1,454
Diageo PLC - 1,586 28 101/128p Ordinary shares
42,996
45,645
2,649
Imperial Brands PLC - 264 10p Ordinary shares
4,130
4,054
)
(76
Total
65,059
66,178
1,119		 Acquisition
value
Value at Unrealised
gain/(loss)
19.04.2020
31.12.2020
y/e 31.12.2020
£
£
£
AstraZeneca PLC - 225 US$ 0.25 Ordinary shares
17,933
16,479
)
(1,454
Diageo PLC - 1,586 28 101/128p Ordinary shares
42,996
45,645
2,649
Imperial Brands PLC - 264 10p Ordinary shares
4,130
4,054
)
(76
Total
65,059
66,178
1,119		 Value at Unrealised
gain/(loss)
31.12.2020
y/e 31.12.2020		 Value at Unrealised
gain/(loss)
31.12.2020
y/e 31.12.2020		 Value at Unrealised
gain/(loss)
31.12.2020
y/e 31.12.2020
£
17,933
42,996
4,130
65,059
£
16,479
45,645
4,054
66,178
£
)
(1,454
2,649
)
(76
1,119

12. Stocks

Stocks
2020 2019
£ £
Wine for parties - 1,305

Page 17

The Church of St Mary, Bourne Street, Pimlico

Notes to financial statements for the year ended 31 December 2020

13.
Debtors
Income tax recoverable
Other debtors
Prepayments and accrued income
14.
Creditors: amounts falling due
within one year
Other creditors
Accruals and deferred income		 2020
£
7,765
60,125
618
68,508
2020
£
12,631
6,000
18,631		 2019
£
7,696
68,964
573
77,233
2019
£
21,218
6,430
27,648

Page 18

The Church of St Mary, Bourne Street, Pimlico

Notes to financial statements for the year ended 31 December 2020

15. Funds

Restricted funds:

Flower - Money donated for the purchase of flowers for the church.

Collections for other charities - Money raised through the church specifically to support the work of other charities.

St. Antony Fund for the Poor - To provide assistance for homeless and needy people who come to the church.

Music - To provide for any major repairs to the organ and for its continued use within the liturgy and, more generally, for the support and development of the church's musical tradition.

Jewels of the Madonna - For the purchase and maintenance of vestments, vessels and other items used in the services of the church and for other similar sacristy costs.

SS Peter & Paul - Under the terms of the gift of the proceeds of winding up the Society of Saint Peter and Saint Paul Charitable Trust, for publishing works promoting the Christian religion; conserving, restoring, commissioning etc church furnishings, memorials and works of a decorative nature at St Mary's; and supporting musical events at St Mary's.

Rausing - Under the terms of the donation set by the Rausing Trustees, for supporting the church's work during the COVID-19 outbreak, helping people living in the parish of St. Mary's or nearby and members of the congregation, wherever they live; and if funds remain after such work, to contribute to the provision of a community hall at 30 Bourne Street (the Pineapple Project).

Pineapple Project - To provide a community hall at 30 Bourne Street.

Fr Bill Scott Memorial - To fund a memorial to Fr Bill Scott, and/or restoration work to be done in his memory.

Designated funds:

The PCC decided to hold the £19,000 surplus from the church restoration appeal in 2013 in a designated fund for further works on the church building. Two further donations totalling £25,000 were added to the fund in 2014. In 2018, the PCC received a bequest of £25,000, which it allocated to the fund, as well as donations totalling £69,600 towards restoration works whose cost was to be met from the fund.

Unrestricted funds
General fund
Fabric fund		 At
01/01/20
Incoming
Outgoing
resources
resources
£
£
£
64,741
160,543
)
(153,082
)
(5,968
16,045
)
(10,077
58,773
176,588
)
(163,159		 At
31/12/20
£
72,202
-
72,202

16. Unrestricted funds

Page 19

The Church of St Mary, Bourne Street, Pimlico

Notes to financial statements

for the year ended 31 December 2020

17.
Restricted funds
At
01/01/20
Incoming
Outgoing
Gains and
resources
resources
Transfers
losses
£
£
£
£
£
Flowers
492
593
)
(812
-
-
Collections for other charities
51
2,291
)
(1,086
-
-
St. Antony Fund for the Poor
909
440
)
(644
-
-
Music
44,787
10,645
)
(12,172
-
-
Jewels of the Madonna
6,343
-
)
(5,490
-
-
SS Peter & Paul
-
153,011
)
(270
-
1,119
Rausing
-
100,126
)
(18,262
)
(81,864
-
Pineapple Project
-
38,314
)
(6,972
81,864
-
Fr Bill Memorial
-
1,772
)
(1,750
-
-
52,582
307,192
)
(47,458
-
1,119
In 2020, £2,291 was raised for other charities (£2,915 in 2019):
St. Mary's, Cable Street
1,360
The Passage
931
2,291		 At
31/12/20
£
273
1,256
705
43,260
853
153,860
-
113,206
22
313,435

18. Analysis of net assets between funds

Unrestricted
Restricted
funds
funds
£
£
Fund balances at 31 December 2020 as represented by:
Investment assets
-
66,178
Current assets
89,083
249,007
Current liabilities
)
(16,881
)
(1,750
72,202
313,435		 Total
funds
£
66,178
338,090
)
(18,631
385,637

Page 20

The Church of St Mary, Bourne Street, Pimlico

Notes to financial statements for the year ended 31 December 2020

19. Related party transactions

St Mary's Trust is a separate charitable trust, which was established on 24 March 1923, with independent Trustees who have discretionary powers to provide for the benefit of St Mary's Church, which is its primary purpose, or the work of the Church of England in the parish of St Mary's or in the neighbourhood. The Trustees appoint their successors. In practice, appointments of new Trustees are made after consultation with the parish. Three of the seven current Trustees - Shane Fletcher, David Marchese and Kris Romanski - are also members of the PCC. The Trustees are generally persons who are closely associated with St Mary's.

In 2020, as in 2019, the PCC did not request any grant from St Mary's Trust, and none was given.

The Trust continued to meet the costs of renting 85 Chester Row from the Grosvenor Estate and related costs, because the house is lived in by the Vicar. In 2020, the Trust incurred £15,599 on the normal running costs of the property, compared to £15,311 in 2019. In 2020, the Trust also incurred £979 expenditure in connection with the funeral obsequies of Fr Bill Scott, which was proper to the PCC. In 2019, the Trust did not incur any other expenditure which was proper to the PCC.

In 2020, the Trust incurred £45,763 on architect's fees and £4,886 on other fees in connection with the Pineapple Project, described in the Annual Report, to create a new church hall in the ground floor of the Presbytery - in 2019, total Trust expenditure on the Project was £23,370.

Also in 2020, St Mary's Trust paid £3,696 towards shared gas costs (2019 - £4,672) to which it is appropriate that they contribute - since June 2019, the Trust and PCC gas supplies have come through separate meters, so the shares of costs can be accurately known. The Trust also repaid the PCC £2,952 for other costs proper to the Trust which the PCC had met, including £2,400 towards the cost of the Heritage statement to accompany the planning and listed building consent application for the Pineapple Project, included in the costs of that Project above (2019 - £352).

The Helena and Kenneth Levy Trust was set up in March 1990, when the late Mrs Helena Levy, a member of the congregation, gave £100,000 for the purpose. Its objects are the improvement, maintenance, repair and renewal of the fabric of the Church, its fittings and organ. Under the Trust Deed, the Incumbent and Churchwardens are the Trustees while they hold those offices - they are also ex officio members of the PCC. In 2019, at the PCC's request, the Trust agreed to give a grant of £3,224 to meet the cost of repairing cracks in the wall of the servers' sacristy, behind the apse, and redecorating it. The Trust also agreed to meet the balance of the cost of replacing the lighting in church which could not be met by the PCC's designated fabric fund or other donations to the PCC for that purpose. It was expected that this would require a grant of around £40,000. This work was not completed in 2019, so the exact total cost was not known, and the PCC waited for that to be established before asking for payment of the grant. Although the originally planned work was completed in 2020, it became clear that some further electrical work in church was highly desirable, and the Levy Trust also agreed to Fund this additional work. The total grant required to fund the electrical work is now calculated as £49,980. It will be paid when the work is completed and the precise figure is known.

In 2020, the Trustees of the Society of Saint Peter and Saint Paul Charitable Trust decided to wind up the Society and donate the proceeds to St Mary's PCC, to be used for specified purposes (see Note 15). Although the Society was founded by a former Vicar of St Mary's, Fr Humphrey Whitby, in 1940, there was no connection between the PCC and the Society (although all the Trustees of the Society were people who had had some connection with St Mary's) until David Marchese (a member of the PCC) was appointed a Trustee of the Society on 26 November 2019 to assist in its winding up, which took place on 10 June 2020, when the funds of the Society were transferred to the PCC. Certain quoted investments formerly held by the Society are now held in the names of David Marchese and Kris Romanski jointly on trust for the PCC.

Page 21

The Church of St Mary, Bourne Street, Pimlico

Notes to financial statements

for the year ended 31 December 2020

Members of the PCC and their close relatives donated £52,411 to the PCC in 2020 (£38,579 in 2019) in Gift Aid envelopes or by cheque or BACS transfer. As is customary and in common with other PCCs, details of any further donations by PCC members and their close relatives of loose cash on the collection plate or in candle donation boxes cannot be known. Consequently, it is not possible to disclose the extent of any further donations of this nature but these are considered by the Trustees to be de minimis.

Page 22