Charity Registration No. 1135636
St Pauls Church Bedford St Covent Garden London WC2E 9ED
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL, COVENT GARDEN
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL, COVENT GARDEN LEGAL AND ADMINISTRATIVE INFORMATION
Trustees The Rev’d Simon Grigg, Incumbent Alison Catterrmoule, Churchwarden Tony Hogg, Churchwarden (Resigned 18 Oct 20) Margaret Houston, Churchwarden Carol Bavin, Deanery Synod Representative (Resigned 18 Oct 20) James Ward, Deanery Synod Representative Robert Zampetti, Deanery Synod Representative (Appointed 18 Oct 20) Dami Pinheiro, Elected Member (Resigned 18 Oct 20) David Alexander, Elected Member Jennifer Hoare, Elected Member Susan Sparkes, Elected Member Robert Zampetti, Elected Member Marisha Widdas, Elected Member (Treasurer) Maximilian David Della Pura Onorati Lacey, Elected Member (Appointed 18 Oct 20) Josephine Buchan, Elected Member (Appointed 18 Oct 20)
Charity number 1135636 Registered office and Principal Address Bedford Street London WC2E 9ED Independent Examiner TC Group The Courtyard Shoreham Road Upper Beeding Steyning West Sussex BN44 3TN Bankers National Westminster Bank plc 34 Henrietta Street Covent Garden London WC2E 8NL Solicitors Mackrell Turner Garrett Savoy Hill House Savoy Hill London WC2R 0BU
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL, COVENT GARDEN CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 – 4 |
| Independent examiner’s report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Cash flow statement | 8 |
| Notes to the accounts | 9 - 17 |
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL, COVENT GARDEN
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2020
Status
The PCC is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council Powers Measure. The PCC is registered with the Charity Commission. Our Charity Commission number is 1135636.
The PCC receives income from the Holy Trinity Kingsway Trust.
The appointment of PCC members is governed by the Church Representation Rules. The PCC meets throughout the year to manage the Church affairs and operates a standing committee (Incumbent, Churchwardens, Treasurer and Charles Grant, as Secretary).
Incumbent
The Rev’d Simon Grigg
Assistant Priests
The Rev’d Richard Syms
Church Wardens
Alison Cattermoule Max Lacey Robert Zampetti
Deanery Synod Reps
Robert Zampetti James Ward
Elected Members
David Alexander Carol Bavin Josephine Buchan Jennifer Hoare Tony Hogg Damilola Pinheiro Susan Sparkes Marisha Widdas (Treasurer/Lay Vice Chair)
Independent Examiner
TC Group The Courtyard Shoreham Rd. Upper Beading Steyning West Sussex BN44 3TN
1
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL, COVENT GARDEN
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
Bankers
National Westminster Bank plc 34 Henrietta St Covent Garden London WC2E 8NL
Solicitors
Mackrell Turner Garrett Savoy Hill House Savoy Hill London WC2R 0BU
Aims and Organisation
The aim of the PCC is the promotion of the Gospel of our Lord Jesus Christ according to the doctrines and practices of the Church of England. The PCC cooperates with the Incumbent in promoting in the Parish, the whole mission of the Church, pastoral, evangelistic, social and ecumenical. A values statement accompanies this report.
Risk Assessment
The PCC conducts regular Risk Assessments, and is confident that it has reacted appropriately to the risks it encounters. Financial Risk is minimised by robust accounting procedures, and strict procedures for the counting and receipt of monies. Burglary is a major risk and the PCC has undertaken a number of preventative measures. Fire protection is well maintained and the Incumbent and Administrator are Fire Marshall trained. Health and Safety has been risk assessed and the Incumbent, Administrator, Caretaker and other staff are First Aid trained. The Incumbent, Administrator and Caretaker regularly review the premises for other Health and Safety issues and take appropriate remedial action. The Incumbent is DBS checked, as are any other adults who have unsupervised access to children.
The Incumbent has received training on Safeguarding and Safer Recruitment . We have fully complied with the Diocesan Safeguarding measures for children and vulnerable adults. All outside groups that use the premises and involve children must adhere to our Safeguarding Policy.
Children and Vulnerable Adults Protection and Safeguarding
The PCC has complied with the duty under section 5 of the Safeguarding and Clergy Discipline Measure 2016, in relation to having due regard to House of Bishops’ guidance on safeguarding children and vulnerable adults.
Church Attendance
Because of the pandemic, average church attendance is hard to estimate. The average church attendance on Sundays when church was OPEN before the first lockdown was 48, an understandable drop from previous years. During first lockdown, we did not keep numbers of those who zoomed in. The average attendance between first and second lockdown was 38. In addition an average of approximately 30 watched on zoom. When we reopened, the average attendance was well down at 29, but with approximately 34 watching on zoom.
2
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL, COVENT GARDEN TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
Overview of Church activities
The Church was built in 1633, the first church to be built and dedicated for Anglican worship since the Reformation. It was formally dedicated in September 1638 and regularly established as a parish by Act of Parliament in 1660. It has continued as an Anglican place of worship since then.
In 2020, due to the pandemic the normal range of our activities was massively reduced. When the national lockdown was announced, we only missed one Sunday before moving to zoom. So:
34 Sunday Eucharists were conducted in church ( the rest, minus one, were celebrated on line) (52 in 2019)
58 weekday Eucharists were conducted. (104 in 2019)
6 Choral Evensongs were celebrated (12 in 2019)
1 Baptisms were conducted (0 in 2019)
4 Marriages or blessings of marriages were conducted (3 in 2019)
2 Funeral Services were conducted – this does not include funerals at local crematoria, which, as a result of the pandemic, were considerable up (3 in 2019)
3 Memorial services were conducted (13 in 2019)
2 carol services or carol concerts were conducted (24 in 2019)
(6 others were recorded and later streamed)
We also hosted a ‘Wish You a merry distance’ carol event in the garden.
2 other services were conducted (16 in 2019)
2 School Masses and Services were conducted (6 in 2019) We hosted 35 concerts and theatrical performances. (120 in 2019)
0 garden events (6 in 2019)
In total therefore we conducted approximately 150 events in 2020. This compares with approximately 400 events in 2019.
Public Benefit
In 2020, we continued our close links with the local community – particularly with Covent Garden London , ( the owners of the Piazza ), the Covent Garden Community Association , In and Around Covent Garden , the Covent Garden Area Trust and others.
The Incumbent is Vice Chair of Governors of St. Clement Danes School , and visiting Priest. He undertakes a number of duties for the school, including interviewing potential staff, deals with disciplinary matters, has a weekly meeting with the Headteacher, and takes a weekly assembly. We also conduct 8 School Masses annually, and host a number of other school events, such as the Easter Service.
The Incumbent continues as a Director of the London Academy Trust.
The Incumbent continued as Chair of Governors of The Courtyard, St. Mary Magdalene Academy , a Special School for children on the autism spectrum. This work continued through 2020
In 2020, because of the pandemic, we worked closely with TCUK and with SOLT to try to help the theatre industry in crisis.
In 2020, because of the pandemic Iris Theatre were unable to perform their normal repertoire, but did a number of ‘pop up – events in the garden in late August.
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL, COVENT GARDEN
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
Future Plans
In 2021, we will focus on recovery of church attendance, financial recovery and rebuilding our concert and theatre business.
Fabric Report
In 2020, because of the pandemic, very little work was done to the fabric of the building. We did, however, redecorate the office. We also undertook some re-wiring of the building, some kitchen repairs,
Financial Review
Due to the pandemic both Income and Expenditure were significantly down on the 2019 figures. We achieved an overall surplus of £28,142 compared to £10,292 in 2019.
We are fortunate to have significant reserves of £1.5m which will be used to maintain the fabric of the building and sustain the long term future of the charity.
Trustees’ responsibilities in relation to the accounts
The trustees are responsible for preparing the Trustees' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that year.
In preparing these accounts, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent; and
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prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the board on 25 April 2021
On behalf of the board of trustees
Trustee
4
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL, COVENT GARDEN INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL, COVENT GARDEN
I report to the charity trustees on my examination of the accounts of the above charity for the year ended 31 December 2020.
Responsibilities and basis of report
As the charity’s trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Association of Chartered Certified Accountants.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
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the accounting records were not kept in accordance with section 130 of the Charities Act; or
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the accounts did not accord with the accounting records; or
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the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Mark Cummins FCCA FCIE
On behalf of TC Group
Office - Steyning
Dated: 29 April 2021
5
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL, COVENT GARDEN STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020
| Unrestricted | Restricted | ||||
|---|---|---|---|---|---|
| funds | funds | 2020 | 2019 | ||
| Income from: | Note | £ | £ | £ | £ |
| Donations | 3 | 31,619 | 1,312 | 32,931 | 134,732 |
| Other trading activities | 4 | 49,450 | - | 49,450 | 105,169 |
| Investment income | 5 | 335,483 | - | 335,483 | 224,493 |
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| Total income | 416,552 | 1,312 | 417,864 | 464,394 | |
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| Expenditure on: | |||||
| Raising funds | 21,742 | - | 21,742 | 71,825 | |
| Charitable activities | 366,668 | 1,312 | 367,980 | 382,277 | |
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| Total expenditure | 6 | 388,410 | 1,312 | 389,722 | 454,102 |
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| Net income/(expenditure) and net | |||||
| movement in funds for the year | 28,142 | - | 28,142 | 10,292 | |
| Reconciliation of funds | |||||
| Total funds brought forward | 1,426,485 | 16,810 | 1,443,295 | 1,433,003 | |
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| Total funds carried forward | 1,454,627 | 16,810 | 1,471,437 | 1,443,295 | |
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The statement of financial activities includes all gains and losses recognised in the period. All income and expenditure derives from continuing activities.
6
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL, COVENT GARDEN BALANCE SHEET
AS AT 31 DECEMBER 2020
| 2020 | 2019 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Current assets | |||||
| Stock | 987 | 617 | |||
| Debtors | 11 | 187,894 | 123,241 | ||
| Cash at bank and in hand | 1,407,427 | 1,524,652 | |||
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| 1,596,308 | 1,648,510 | ||||
| Creditors: amounts falling due | |||||
| within one year | 12 | (124,871) | (205,215) | ||
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| Net current assets | 1,471,437 | 1,443,295 | |||
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| Net assets | 1,471,437 | 1,443,295 | |||
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| The funds of the charity: | |||||
| Restricted funds | 15 | 16,810 | 16,810 | ||
| Unrestricted funds | 16 | 1,454,627 | 1,426,485 | ||
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| 1,471,437 | 1,443,295 | ||||
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The accounts were approved by the Board on 25 April 2021.
Trustee
7
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL, COVENT GARDEN CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2020
| Cash flows from operating activities Net (expenditure)/income for the year (Increase)/decrease instocks Increase/(Decrease) increditors (Increase)/decrease indebtors Net cash used in operating activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year |
2020 £ £ 28,142 (370) (64,653) (80,344) (117,225) (117,225) 1,524,652 ──────── 1,407,427 ════════ |
2019 £ £ 10,292 (35) 84,778 (20,207) 74,828 74,828 1,449,824 ──────── 1,524,652 ════════ |
2019 £ £ 10,292 (35) 84,778 (20,207) 74,828 74,828 1,449,824 ──────── 1,524,652 ════════ |
|---|---|---|---|
| 74,828 1,449,824 ──────── 1,524,652 ════════ |
8
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL, COVENT GARDEN NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2020
1 Legal status of charitable company
The Parochial Church Council of the Ecclesiastical Parish of St Paul, Covent Garden is a charity. The charity’s registered number and office address can be found on the Legal and Administrative Information page.
2 Accounting policies
2.1 Basis of preparation
The Parochial Church Council of the Ecclesiastical Parish of St Paul, Covent Garden meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). There are no material uncertainties about The Parochial Church Council of the Ecclesiastical Parish of St Paul, Covent Garden’s ability to continue as a going concern.
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) and in accordance with Church Accounting Regulations 2006.
2.2 Going concern
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. This includes taking into account any known impact of the COVID-19 pandemic.
There are no material uncertainties about The Parochial Church Council of the Ecclesiastical Parish of St Paul, Covent Garden’s ability to continue as a going concern.
2.3 Income
All incoming resources are included in the Statement of Financial Activities when the charity is legally entitled to the income, it is probable the income will be received and the amount can be quantified with reasonable accuracy.
2.4 Expenditure and basis of apportioning costs
Expenditure is accounted for on an accruals basis with the irrecoverable element of VAT included with the item to which it relates and has been classified under headings that aggregate all costs related to the category.
Charitable activities comprises all expenditure directly relating to the objectives of the charity.
Governance costs (included within Support costs) comprises all costs associated with constitutional and statutory requirements with which the charity must comply.
9
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL, COVENT GARDEN
NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
2 Accounting Policies (continued)
2.5 Pensions
The charity operates a NEST pension scheme. Contributions are charged to the Statement of Financial Activities as they are incurred.
2.6 Stocks
Stock is valued at the lower of cost and net realisable value.
2.7 Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.8 Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments. The trustees seek to use short term deposits to maximise the return on monies held at the bank and to manage cash flow.
2.9 Creditors and provisions
Creditors and provisions are recognised where the charity has present obligation resulting from a past event that will probably result in a transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.
2.10 Fund Accounting
- Unrestricted funds are to be used in accordance with the charitable objectives at the discretion of the Trustees.
Restricted funds are to be used for particular restricted purposes within the objectives of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
2.11 Judgements and key sources of estimation uncertainty
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised.
The trustees do not consider that there are any critical estimates or areas of judgement that need to be brought to the attention of the readers of the financial statements.
10
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL, COVENT GARDEN NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
3 Income from donations
| Restricted | Unrestricted | ||||
|---|---|---|---|---|---|
| funds | funds | 2020 | 2019 | ||
| £ | £ | £ | £ | ||
| Planned giving | - | 12,541 | 12,541 | 14,719 | |
| Collections | - | 6,747 | 6,747 | 17,757 | |
| Appeals and donations | 1,312 | 24,248 | 25,560 | 79,173 | |
| Gift Aid tax reclaimed | - | (11,917) | (11,917) | 23,083 | |
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| Total income from donations | 1,312 | 31,619 | 32,931 | 134,732 | |
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| 4 | Income from other trading activities | ||||
| Restricted | Unrestricted | ||||
| funds | funds | 2020 | 2019 | ||
| £ | £ | £ | £ | ||
| Car parking rentals | - | 30,206 | 30,206 | 12,663 | |
| Other income | - | 6,405 | 6,405 | 5,454 | |
| Ticket income | - | 3,899 | 3,899 | 68,773 | |
| Bar income | - | 7,733 | 7,733 | 13,035 | |
| Votive candles | - | 1,207 | 1,207 | 5,244 | |
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| Total income from other trading activities | - | 49,450 | 49,450 | 105,169 | |
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| 5 | Investment income | ||||
| Restricted | Unrestricted | ||||
| funds | Funds | 2020 | 2019 | ||
| £ | £ | £ | £ | ||
| Licence fees | - | 333,838 | 333,838 | 220,700 | |
| Interest receivable | - | 1,645 | 1,645 | 3,793 | |
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| Total investment income | - | 335,483 | 335,483 | 224,493 | |
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11
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL, COVENT GARDEN NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
6 Total expenditure
| Staff | Other | Total | Total | |
|---|---|---|---|---|
| costs | costs | 2020 | 2019 | |
| £ | £ | £ | £ | |
| Expenditure on raising funds | ||||
| Costs of raising donations and grants |
- | 21,742 | 21,742 | 71,825 |
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| Expenditure on charitable activities | ||||
| Activities undertaken directly | 108,195 | 232,827 | 341,022 | 348,296 |
| Support costs | - | 26,958 | 26,958 | 33,981 |
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| Total charitable activities | 108,195 | 259,785 | 367,980 | 382,277 |
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| Total Expenditure | 108,195 | 281,527 | 389,722 | 454,102 |
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|
| Analysis of support costs (including Governance costs) | Total | Total | ||
| 2020 | 2019 | |||
| £ | £ | |||
| General office and administration | 65,366 | 29,683 | ||
| Governance costs: | ||||
| Independent examiners fees | 4,386 | 4,298 | ||
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| 69,752 | 33,981 | |||
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL, COVENT GARDEN NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
7 Comparative Funds – Statement of Financial Activities for the year ended 31 December 2019
| Unrestricted | Restricted | |||
|---|---|---|---|---|
| funds | funds | 2019 | ||
| Income from: | Note | £ | £ | £ |
| Donations | 3 | 122,923 | 11,809 | 134,732 |
| Other trading activities | 4 | 105,169 | - | 105,169 |
| Investment income | 5 | 224,493 | - | 224,493 |
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| Total income | 452,585 | 11,809 | 464,394 | |
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| Expenditure on: | ||||
| Raising funds | 71,825 | - | 71,825 | |
| Charitable activities | 368,663 | 13,614 | 382,277 | |
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| Total expenditure | 6 | 440,488 | 13,614 | 454,102 |
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| Net income/(expenditure) and net | ||||
| movement in funds for the year | 12,097 | (1,805) | 10,292 | |
| Reconciliation of funds | ||||
| Total funds brought forward | 1,414,388 | 18,615 | 1,433,003 | |
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| Total funds carried forward | 1,426,485 | 16,810 | 1,443,295 | |
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The statement of financial activities includes all gains and losses recognised in the period. All income and expenditure derives from continuing activities.
13
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL, COVENT GARDEN NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
8 Trustees
This year there were church expenses of £31,784 paid for by the Treasurer Mrs Marisha Widdas and she was reimbursed £30,244, the charity still owes her £1,540 at the year-end. This was due to banks being closed as a result of COVID, not having online bank (unable to make bank transferred) and cheques being refused as forms of payment, therefore to fulfil payments the treasurer covered the expenses and was reimbursed by the charity. The only other member of the PCC received any reimbursements for expenses or remuneration was Mr D. Alexander who received £3,000 (2019: £3,000) as sacristy verger.
9 Employees
Number of employees
The average monthly number of employees during the period was:
| 2020 | 2019 | |
|---|---|---|
| Number | Number | |
| Administration, marketing and commercial | 2 | 2 |
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| Employment costs | 2020 | 2019 |
| £ | £ | |
| Wages and salaries including social security costs | 106,744 | 104,207 |
| Other pension costs | 1,451 | 2,662 |
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| 108,195 | 106,869 | |
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During the year there was a settlement made to the administrator who retired for £42,804.
10 Taxation
As a charity, The Parochial Church Council of the Ecclesiastical Parish of St Paul, Covent Garden is exempt from tax on income and gains to the extent that these are applied to its charitable objects.
| 11 | Debtors | 2019 | 2020 |
|---|---|---|---|
| £ | £ | ||
| Trade debtors | 65,434 | 28,061 | |
| Other debtors | 119,450 | 90,164 | |
| Prepayments and accrued income | 3,010 | 5,016 | |
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| 187,894 | 123,241 | ||
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14
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL, COVENT GARDEN NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
| 12 | Creditors: amounts falling due within one year | 2020 | 2019 |
|---|---|---|---|
| £ | £ | ||
| Trade creditors | 10,866 | 62,168 | |
| Accruals and deferred income | 114,005 | 143,047 | |
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| 124,871 | 205,215 | ||
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| Creditors amounts falling due within one year includes deferred income: | |||
| 2020 | 2019 | ||
| £ | £ | ||
| As at 1 January 2020 | 130,938 | 73,827 | |
| Amount released to income | (130,398) | (73,827) | |
| Amount deferred in the year | 108,811 | 130,938 | |
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| As at 31 December 2020 | 108,811 | 130,938 | |
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13 Pension and other post-retirement benefit commitments
Defined contribution
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Contributions payable by the charity for the period | 1,451 | 2,662 |
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At 31 December 2020 contributions of £Nil were outstanding (2019: £Nil).
14 Commitments under operating leases
At 31 December 2020 the charity had total commitments under non-cancellable operating leases as follows:
| 2020 | 2019 | |
|---|---|---|
| Expiry date: | £ | £ |
| Less than one year | 5,555 | 5,400 |
| Within two and five years | 3,683 | 8,100 |
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| 9,238 | 13,500 | |
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15
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL, COVENT GARDEN NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
15 Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held for specific purposes:
| Movement | in funds | |||
|---|---|---|---|---|
| Balance at | ||||
| Balance at | 31 | |||
| 1 January | Incoming | Resources | December | |
| 2020 | resources | expended | 2020 | |
| £ | £ | £ | £ | |
| St John Drury Lane Trust | 708 | - | - | 708 |
| Fabric Fund | 2,586 | - | - | 2,586 |
| Donation for Pews | 5,584 | - | - | 5,584 |
| St Giles/William Shelton charity | 976 | - | - | 976 |
| Collections | 3,294 | - | - | 3,294 |
| Foyer Refurbishment | 3,662 | - | - | 3,662 |
| Bloodwise | - | 549 | (549) | - |
| Acting for Others | - | 408 | (408) | - |
| The Food Chain | - | 355 | (355) | - |
─────── |
─────── |
─────── |
─────── |
|
| 16,810 | 1,312 | (1,312) | 16,810 | |
═══════ |
═══════ |
═══════ |
═══════ |
St John Drury Lane Trust – The fund is to be applied for the restricted purposes of the Trust.
Fabric Fund – This is a donation from the Rector to be used towards the fabric fund.
Donations for Pews – Received a donation for pews for the Church.
St Giles William Shelton charity – Received a grant from the charity which was for materials and training for children’s work within the Church.
Collections – The Church receives money towards special collections which it then pays as a donation.
Foyer Refurbishment – As part of our ongoing maintenance of the fabric of the building the flooring has been restored, lighting improved and painting and gilding have been renewed.
This year there were 3 contra donations for Bloodwise, Acting for Others and The Food Chain. These were the only donations made in the year from events held during the year.
16
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL, COVENT GARDEN NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
| 16 | Analysis of net assets between funds | |||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||
| funds | funds | |||
| £ | £ | £ | ||
| Fund balances at 31 December 2020 are represented by: | ||||
| Current assets | 1,579,498 | 16,810 | 1,596,308 | |
| Creditors: amounts falling due within one year | (124,871) | - | (124,871) | |
─────── |
─────── |
─────── |
||
| 1,454,627 | 16,810 | 1,471,437 | ||
═══════ |
═══════ |
═══════ |
||
| Unrestricted funds |
Restricted funds |
Total | ||
| £ | £ | £ | ||
| Fund balances at 31 December 2019 are represented by: | ||||
| Current assets | 1,631,700 | 16,810 | 1,648,510 | |
| Creditors: amounts falling due within one | ||||
| year | (205,215) | - | (205,215) | |
─────── |
─────── |
─────── |
||
| 1,426,485 | 16,810 | 1,443,295 | ||
═══════ |
═══════ |
═══════ |
17 Ultimate controlling party
The charity was under the control of the Trustees during the period under review.
17
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