2020-12-31-accounts

THE PARISH AND WARD CHURCH OF ST BOTOLPH-WITHOUT-BISHOPSGATE Annual Report of the Parochial Church Council for the year ending 31 December 2020

Under the Church Representation Rules, the Parochial Church Council (‘the PCC’ or ‘the Council’) is required to prepare an Annual Report on its proceedings and on the activities of the parish generally. It is also required to prepare a financial statement for the financial year that gives a true and fair view of the state of affairs of the parish as at the end of the financial year and of its income and expenditure for that period.

The Report for 2020 will inevitably be dominated, as was the year itself, by the coronavirus pandemic and St Botolph’s response to it under the leadership of the Parish Priest, Fr David Armstrong, with the support of the Wardens, the Council and the church staff. Government and Church of England guidelines were followed throughout the year, including the complete closure of the church for three months, and St Botolph’s reacted swiftly to every change in regulations and in common with many churches moved services and meetings online. More detail about the various phases of the pandemic and our response at each stage will appear in the relevant sections of the Report.

ADMINISTRATIVE INFORMATION

The Parish and Ward Church of St Botolph-without-Bishopsgate is situated in Bishopsgate, in the City of London. It is part of the City of London Deanery, the Two Cities Area and the Diocese of London within the Church of England. The correspondence address is Bishopsgate, London EC2M 3TL. Day-to-day management is delegated to the Parish Priest, with the support of the Churchwardens.

The Verger, Hall and Court Manager is Mr Paul Gibson.

The Church Administrator, PCC Secretary and Parish Clerk is Miss Mhairi Ellis.

Bankers:

Allied Irish Bank, City Business Centre, 26 Finsbury Square, London EC2A 1DS

Independent Examiner:

Mrs Julie Griggs, BSc Hons FCA, Levicks, West Hill, 61 London Road, Maidstone, Kent ME16 8TX

Inspecting Surveyor:

Mr Kevin Stephenson, BSc FRICS, Kevin Stephenson Associates, 9 Holgate Court, Western Road, Romford, Essex RM1 3JS

AIMS AND PURPOSES

The Parochial Church Council of St Botolph-without-Bishopsgate has the responsibility of co-operating with the Parish Priest in promoting the whole mission of the church, liturgical, pastoral, educational, evangelistic, social and ecumenical, in the ecclesiastical parish in its care in the City of London. It is also responsible for maintaining a fine (Grade II* Listed) Georgian church building— restored after bomb damage, and most recently refurbished in 2015-17—and the adjacent Church Hall, Churchyard, and Netball/Tennis Court.

OBJECTIVES AND ACTIVITIES

The PCC is committed to enabling as many people as possible to worship at our church and to become part of our parish community. The PCC maintains an overview of worship and makes suggestions on how our services can involve the many people and groups within our parish. Our services and worship put faith into practice through prayer, scripture, music and sacrament. To facilitate this work it is important that we maintain the fabric of the church building, and to this end we undertook major refurbishment works during 2015-17; further works including repairs to the stonework of the Tower and an overhaul of the electrics were identified as a result of the 2018 Quinquennial Inspection, and undertaken during 2019. Sway tests on the bells necessary to complete the tower work, intended to be undertaken in 2020, were postponed by the pandemic.

When planning our activities for the year, we have considered the Charity Commission’s guidance on public benefit, and the supplementary guidance on charities for the advancement of religion. In particular, we try to enable all people to live out their faith as part of our parish community through worship and prayer, and teaching about the Gospel; provision of pastoral care for people living and working in the parish; and missionary and outreach work.

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We also continue to bear in mind the Diocese of London’s collective initiative ‘Capital Vision 2020’ and strive to follow its mission statement: ‘We share a vision of a Church for London that is Christcentred and outward looking: we seek to be more confident in speaking and living the Gospel of Jesus Christ, more compassionate in serving communities with the love of God the Father, and more creative in reaching new people and places in the power of the Spirit’.

ACHIEVEMENTS AND PERFORMANCE

At the start of 2020 St Botolph’s was looking forward to a second full year under the leadership of a full-time priest, and the Council was enthusiastically discussing items on Fr David’s Five-Year Plan. Nobody could have predicted that for over three-quarters of the year we, along with the rest of the country and the world, would be living under the threat of, and obliged to respond to the economic and human effects of, a global pandemic. But Fr David’s work during 2019 in getting to know the Wardens, Trustees and staff and forging bonds with all our linked organisations meant that he, and we, were in a good place to respond rapidly to the challenges presented by the pandemic, and maintain St Botolph’s as much as possible as ‘a place of calm, sanctuary and God’s love in the City’.

Our ‘open door’ policy was maintained throughout the year, except during the time of enforced closure, to ensure a ready welcome to all visitors. We maintained, when permitted, a full programme of regular and special services, including some innovations. The staff continued to work hard – for the majority of the year, in the Verger’s and Administrator’s cases, from their remote outposts at home - to ensure that the day-to-day administration of the church, Hall and Court were kept up, and new ideas researched and developed where possible.

STRUCTURE, GOVERNANCE AND MANAGEMENT

St Botolph’s Parochial Church Council is a corporate body established by the Church of England, and operates under the Parochial Church Councils (Powers) Measure 1956 (as amended). The Council is a charity, previously exempted from registration with the Charity Commission but registered in May 2010 (Charity Number 1135985).

All those who regularly attend our services are encouraged to register on the Electoral Roll and stand for election to the PCC. The method of appointment of PCC members is set out in the Church Representation Rules: members of the PCC are either ex-officio or elected by the Annual Parochial Church Meeting (APCM) in accordance with the Rules.

The PCC members are responsible for making decisions on all matters of general concern and importance to the parish, including deciding on how the funds of the PCC are to be spent.

REPORT ON THE BUSINESS OF THE COUNCIL

During the year the following served as members of the PCC:

Ex-officio members

The Revd David Armstrong (Priest-in-Charge)

Mr Frank Curtiss (Churchwarden) Ms Wendy Hyde (Churchwarden, to 19 October)

Ms Chris Watkins (Churchwarden, from 19 October)

Mrs Christine Ferris (Deanery Synod representative)

Mr John Marshall (Deanery Synod representative, to 19 October)

Mr Alex Coles (Deanery Synod representative, from 19 October)

Elected members

Mr Christopher Butten, Mr Nick Creswick Gough, Mr Alastair Harris, Ms Wendy Hyde CC (from 19 October), Mr Peter Kibble, Mr David Lee, Miss Mary Moore, Mr Ian Shadforth (to 19 October), Ms Chris Watkins (to 19 October), Mr David Westover

Notes

We are currently permitted to elect nine members to the Council.

The Churchwardens are Joint Treasurers.

The Church Administrator, Mhairi Ellis, also acts as PCC Secretary and Electoral Roll Officer.

The Council has a Standing Committee and a Finance Committee, both including the Priest-inCharge and Wardens. The Standing Committee meets as necessary between Council meetings, and has power to transact the business of the Council between its meetings, subject to any directions given by the Council.

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The Finance Committee meets to discuss the Accounts, budget, investments and other financial matters as necessary, but from April 2020 stepped up the frequency of its engagement, meeting monthly by Zoom to oversee the parish’s finances during the pandemic, with meeting notes being regularly circulated to the full Council.

During 2020 the full Council met for business in person once, and three times by Zoom. Every effort was made to include members who were unfamiliar with virtual meeting platforms, although it was not possible in some cases, but Council members who could not be present at meetings were encouraged to ask questions and raise concerns in advance so their voices could be included. The Council was consulted electronically in between meetings as necessary (and the results of such consultations were ratified at the succeeding business meeting).

Following a change in the law to allow Annual Meetings to take place in the Autumn, the existing Wardens and Council members remained in office until the Annual Meetings in October. The Churchwardens elected at the Annual Vestry Meeting were admitted to office by Fr David at the beginning of the November Council meeting, as it was not possible for the usual large gatherings for the Area Admissions of Churchwardens to take place.

In addition to the elected members, Mhairi Ellis (Administrator, and Secretary to the PCC) and Paul Gibson (Verger, Hall and Court Manager) attended meetings as appropriate, and presented Finance, Fabric, and Services and Activities background papers as well as ‘coronavirus updates’ in advance of meetings. The January meeting received a presentation on the organ rebuild project from Iestyn Evans, our Organist and Director of Music, and the Organ Consultant, Professor David Titterington.

Dates of meetings and attendance

The number of members of the Council at the start of the year was 14. It decreased to 13 from the Annual Meeting in October, as good friend and long-time supporter of the Parish Ian Shadforth could no longer attend meetings on health grounds. The number at the end of the year was 13.

Full business meeting, Thursday 23 January in the Hall

Present 10, apologies 4

A full business meeting scheduled to take place on Tuesday 19 March at All Hallows on the Wall was abandoned owing to the imminent Covid lockdown; the papers which had already been circulated were received/approved at the next meeting

Full business meeting, Wednesday 17 June (by Zoom) Meeting after the APCM, Monday 19 October (by Zoom) Full business meeting, Wednesday 13 November (by Zoom)

Present 11, apologies 3 Present 10, apologies 3 Present 11, apologies 2

The Council was consulted electronically on 15 May, 30 July and 15 October.

The main matters discussed in the course of the year were:

• Fabric, including tower sway tests (final works resulting from 2018 Quinquennial Inspection), organ rebuild project

• Proposals for drinking fountains in the Churchyard, and a coffee kiosk in the Bishopsgate porch of the church, new sculpture in Churchyard

• Homelessness, rough sleeping and mental health issues in the City – liaison with Corporation, Police and charities, Homeless Hubs in the Hall

• PCC policies – all updated and reviewed during the year, and a Lone Worker Policy introduced

• • Financial matters, including budget, Accounts, Voluntary Church Rate, Rectory rental, contactless and other methods of donation, hire charges, review of accounting arrangements, ‘housekeeping’ amendments to investments at CCLA

• Common Fund, including decisions on top-ups in support of other churches for 2020

• • Charitable giving, including Lent and Advent charities, support for linked organisations including St Francis at the Engine Room, Christian Aid, St Mungo’s, MIND in Haringey

• Church, Hall and Court running, including the implementation of Covid-19 safety measures

• • Liturgy and music, including organ rebuild project, Director of Music’s annual report, new forms of service and service books necessary at different stages of the pandemic, support for the church’s musicians during the pandemic

• IT and communications, including refreshed website, new platforms for communication during the pandemic, regular communication with parishioners and wider community

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• Outreach, and reinforcing existing relationships with neighbouring organisations and charities including St Botolph’s representation on the boards of the Bishopsgate Institute, Central Foundation Schools and the Samuel Butler Foundation

• Staffing and security, including Living Wage accreditation, workplace pensions scheme review

The Finance Committee’s regular items for discussion at its monthly meetings included income, expenditure and cashflow, investment valuations and market performance, Rectory income and expenditure, charitable donations, staffing matters and support for musicians.

Safeguarding

The Council takes seriously its role in the safeguarding of children, young people and vulnerable adults: it annually renews its adherence to the Diocesan Safeguarding Policy, and is thus compliant with its duty under Section 5 of the Safeguarding and Clergy Discipline Measure 2016 in relation to having due regard to the House of Bishops’ guidance on safeguarding. During the year the safeguarding information on the church website and noticeboards was brought up to date in line with the most recent guidance from the Area Office, and continues to be monitored. The Safeguarding Officer is Chris Watkins, and the parish safeguarding audit is regularly reviewed.

Data protection

The Priest-in-Charge and Council take seriously their roles as Data Controllers in complying with the General Data Protection Regulations 2018 (GDPR), and the parish is registered with the Information Commissioner’s Office. The parish’s General Privacy Notice is clearly signposted from the website and from staff emails, and consent forms are collected as necessary. Trustees and members of staff refreshed their GDPR training during the course of the year.

REVIEW OF THE YEAR—OUR MISSION AND ITS PUBLIC BENEFIT

A church open to all

The church is normally open every weekday from 7.00am to 5.30pm, and at every stage of the pandemic consideration was given to how to keep it open safely for as long as possible. There was a forced complete closure for three months during the first lockdown from March to June 2020, and for much of that time the windows on the garden side of the church were covered with protective boards provided by the Diocesan Property Department. When the church re-opened on 22 June it was initially for private prayer only and for shorter hours, firstly from 12.00 noon to 3.00 pm but later from 10.00 am to 3.00 pm. When open, the church is much used and appreciated by people from the surrounding businesses and by commuters from Liverpool Street Station.

Additionally, the Church Hall, Netball/Tennis Court and Churchyard normally occupy a central place in the life of many who work around Bishopsgate. The Churchyard is a busy thoroughfare as well as a place of rest, reflection and recreation and continued to be so when the church, Hall and Court were not permitted to be used. We see this as the provision of a most useful service to the public—all are welcome on our premises regardless of belief or opinion, and we strive to make everything we do in and around the church and Churchyard accessible to all in the area, including the local homeless community.

When it was possible to open the church for private prayer once more the Verger swung into action ordering signage, hygiene products and PPE, and continued to react swiftly to the subsequent changes in regulations. Our professional seamstress friend, Sue Young, offered some beautiful hand-made face coverings for the use of the staff. The Administrator registered St Botolph’s for Visit England’s ‘Good to Go’ scheme and we received regular updates as the guidance changed.

Throughout the pandemic period Fr David kept in close touch with members of the congregation and the wider St Botolph’s ‘family’ with email updates and offers of pastoral support and telephone calls, and received many messages expressing gratitude for these encouraging emails and for keeping services going online from home and in church when permitted. A larger than usual number of Easter cards were sent, and Christmas cards, with a wonderfully uplifting photograph of Fr David and Freddie the church dog taken by Alastair Fyfe, the photographer who had taken professional photographs for the new website, were circulated to a wide range of friends and contacts.

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An active and inclusive church

The Electoral Roll

In 2020 the Electoral Roll underwent its annual revision later in the year than usual, in advance of the delayed Annual Meetings on 19 October, and at the end of the year had 96 members, all of whom live outside the parish.

Worship in the first half of the year

In the first quarter of the year the lunchtime liturgies on Wednesday (1.10 pm Choral Mass) and Thursday (12.10 pm Said Mass) continued to attract both parishioners and visitors, as did the third regular weekday service introduced by Fr David from Advent 2019, a short Said Mass at 8.10 am on Tuesday to attract local workers who would benefit from a said service before work.

Ash Wednesday on 26 February saw an historic moment as St Botolph’s welcomed Bishop Sarah to celebrate at the main lunchtime Choral Mass with Imposition of Ashes. There were good numbers at that service, and in addition Fr David offered early morning and early evening services with Imposition of Ashes, and made himself available for private ashing throughout the day. After this, however, there were only two more weeks of services before the first lockdown was announced.

During the pandemic, with fewer workers in the City, Fr David varied the services offered from time to time, but towards the end of the year settled on 1.10 services on Tuesday, Wednesday and Thursday. St Botolph’s acted quickly when it became clear that the churches were to be closed, and Fr David with Paul’s assistance recorded several services to be streamed on the Tuesdays and Wednesdays of the first weeks of lockdown. After that, with clergy not allowed to enter their churches, Fr David continued to record services from home, and these were uploaded to our YouTube channel via our website, and added to our page on A Church Near You. Fr David, along with other like-minded priests, lobbied the Church of England and Government for the lifting on the ban on entering churches. In mid-May the ban was lifted, and Fr David was able to return to church weekly and record services for streaming on Tuesdays and Wednesdays. He has received many messages from parishioners and members of our wider ‘family’ to say how comforting and helpful they have found these while in isolation at home.

Services were given an additional boost from Ascension Day when we were able to include hymns and solo motets, recorded by soprano Rebecca Hardwick and our organist Iestyn Evans off-site. Mhairi enjoyed writing simple orders of service so the congregation could follow the music and hymns, and selecting appropriate artworks matching the themes and lessons of each service to help cover the musical selections, and Paul’s video-editing skills were enhanced as he worked quickly to splice the musical items, the sound of our bells, the artworks and photographs of the church into a pleasing whole.

Our most ambitious service in this part of the year was the Patronal Festival on St Botolph’s Day, Wednesday 17 June, when as well as glorious music we also incorporated video segments of the Senior Churchwarden and the Priest Missioner reading lessons, and the sermon from the distinguished guest preacher Lord Griffiths of Burry Port. The service was followed by a Zoom social gathering.

Worship in the second half of the year

Services in church began again from 15 July and were livestreamed as well, with single-use Mass books being produced for both Said and Choral Masses for use in church and for those watching online to follow. Once choral singing was permitted once more, the Choir were welcomed back with open arms from 9 September, when the service was celebrated as the Nativity of Our Lady with wonderful music. Mhairi was able to revert to producing a more normal style of service sheet to supplement the new interim Mass books. It became apparent that the equipment being used was not of sufficiently high quality for the broadcasts of services, and in order to be able to offer streamed and hybrid services to organisations and charities for Christmas more research was done into suitable equipment and firms to install it, with DK Systems being chosen.

By the time of the second lockdown in November the quality of the livestream was much higher, resulting in many more views online. Carol services were held with congregations both in church and following online for the Haemophilia Society, the Bishopsgate Ward Club, and the Honourable Artillery Company. Another carol service planned for 8 December had to be cancelled at short notice, but as the singers were already booked for it, Iestyn suggested that disappointment could be turned into opportunity by putting on a service of music and readings for Feast of the Conception of Our Lady.

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This, as well as St Botolph’s other December offerings of the Advent Carol Service, Parish Carol Service, an early evening Carols by Candlelight, and the Christmas Eve Mass and Crib Blessing, had many more online views than usual. The Choir and Fr David recorded a musical ‘Christmas card’ which was put out on YouTube and viewed by hundreds of friends and contacts.

Assisting clergy and service helpers

Our Priest Missioner, Fr Andrew Williams, continued to assist with services monthly until the pandemic struck, after which he was not able to come to St Botolph’s until the Parish Carol Service, when he read the final lesson. We are most grateful to him, and to other visiting clergy who were able to assist when Fr David attended a New Incumbents’ residential course in February.

We are also grateful to all those who give so generously of their time to play particular roles in regular worship, and would like to record our gratitude to the following people for their contributions in the first part of the year when services could take place as normal:

• our altar servers: David Lee and Ian Shadforth

• our additional assistants at Holy Communion: Chris Butten, Paul Gibson, Alastair Harris, Tommy Lacken and Chris Watkins

• our teams of readers and sidesmen

• our lay intercessors: Chris Butten and Christine Ferris

• our Tower Captain, John Adams, and his team of bellringers who usually ring for every Wednesday service

Sharing the church

On Sundays, St Botolph’s continued to offer the hospitality of its fabric and space – when the pandemic regulations allowed - to the worshipping community of the Antiochian Orthodox Church of Great Britain. We also continued to welcome the Ethiopian Lutheran community of Mekane Yesus into our Church Hall on Sunday evenings until the time of the first lockdown.

A musical church, supporting the young

St Botolph’s has an enviable reputation for the high standard of musical liturgy which it consistently delivers. As has been seen in the previous section of this report, the pattern of a variety of choral music at every Wednesday and major Feast Day service continued when guidance permitted. The Council would like to take this opportunity to thank Iestyn Evans, who together with his team of singers and deputy organists has provided such a high standard of music. At times when not many members of the congregation were able to be present in church, Iestyn and the singers were happy to add another string to their bow by reading lessons at services.

The Council was concerned to ensure that St Botolph’s core group of singers was supported throughout the pandemic when most work for freelance musicians was inevitably cancelled, and financial support was offered to one singer who requested it.

During the first part of the year Iestyn and our organ consultant Professor David Titterington continued to work with enthusiasm on the plans for a rebuild of St Botolph’s pipe organ, unplayable since the 1990s. A presentation was made to the January meeting of the Council, and distinguished firms of organ builders were invited to tender for the work, with the Swiss firm Kuhn being first with a proposal. The US firm C B Fisk welcomed Iestyn and Professor Titterington on a visit to view and play some of their organs in the USA, and had agreed to send representatives over in return to test the church acoustics on 23 March. Hotel rooms had been booked for the party but had to be cancelled when it became apparent that it would not be safe for them to travel. The third firm, Flentrop, had also been due to make a site visit in March, but the project had to be put on hold for the remainder of the year. The costs of the initial stages of this project are covered by a grant from the Bishopsgate Church Foundation.

Additional music is brought to our Wednesday services, weddings and occasionally memorial services by our loyal team of bellringers. After a long period of silence in 2019, during the period of work on the tower stonework, it was a further blow to the team that ringing in small spaces was not permitted from the start of the first lockdown, although some online footage of the bells being rung was found to introduce service videos over the Summer.

We were delighted as usual to be able to make church and Hall available to many visiting musical groups for concerts and rehearsals, although many planned concerts and events had inevitably to be postponed.

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A highlight in February was the return of Lunchbreak Opera for another production in the Hall, this time of Lennox Berkeley’s short comic opera A Dinner Engagement. Seven one-hour performances with rising young singers and players from the London conservatoires took place in the space of a week, and were well attended and received.

St Botolph’s continued, when regulations permitted, to facilitate music-makers within local firms by providing a venue for the rehearsal and performance of their ‘in-house’ choirs and orchestras, and occasionally staff members practising the organ in the church, or solo singing in the Hall.

A church working in partnership with others

Close and fruitful liaison continued with our Livery Companies (the Worshipful Companies of Leathersellers, Coopers, Bowyers, and Fan Makers), with the Bishopsgate Ward Club, the Bishopsgate Institute, and with our linked regiments the Honourable Artillery Company (the HAC) and the Rifles, although inevitably some of the annual and carol services of these organisations had to be cancelled or postponed. The Bowyers were keen to hold their Master’s Day Service in July: this turned out to be the first service to be held in church after the first lockdown, and an interesting experiment in technology as it was conducted by Zoom. The Coopers’ Company Cloker Service was conducted by the same method. By the time of the carol service season the new audio-visual equipment was installed, and the clarity and quality of transmission were much appreciated by those who followed the services by livestream or the recording afterwards. Carol services were hosted for the Haemophilia Society, the Honourable Artillery Company and the Bishopsgate Ward Club: the HAC and the Ward Club offered donations towards the cost of the audio-visual equipment which had enhanced the quality of their services, and some of the other organisations which decided to cancel their carol services kindly made donations to church funds.

We are grateful for our links with, and the moral, financial and corporate support of, all these organisations - as well as that of many local businesses. Fr David contacted all the ratepayers in the parish in May with a pastoral letter offering support in difficult times and letting them know that the normal request for Voluntary Church Rate was being deferred in the circumstances. Encouraged by reports from other City churches of a reasonable return on their rate requests, it was decided that we should send a single rate request in the Autumn. There were delays in getting the necessary information from the Corporation, but the impasse was at length broken by an intervention from Churchwarden and Common Councillor Wendy Hyde, and in November another letter went out from Fr David, again offering his and the church’s support to the local business community, but this time with a request that businesses would consider paying the full amount of their 2020 rate, or at least making a contribution towards it. A good many firms responded with payment and good wishes. Our thanks go to our Voluntary Church Rate Officer, Andy Newman, for his diligence and attention to detail in all aspects of the rate administration.

Members of St Botolph’s Choir crossed the road to St Ethelburga’s in October to continue a neighbourly tradition by providing the music for their patronal festival celebration, at which the Bishop of London officiated.

We continued to work in collaboration with the City of London Corporation and the Ward of Bishopsgate, with regular liaison with various departments of the Corporation, our local Common Councillors in Bishopsgate, and the City Police. When regulations allowed, the experiment begun in 2019 continued in the Hall of hosting a series of Homeless Hubs run jointly by the Corporation, the Police and agencies including St Mungo’s (and subsequently Thames Reach): these had formerly been held under canvas in various parts of the City, including in Alderman’s Walk in the parish. These resulted in several homeless people being given accommodation and being able to access other services.

Wendy Hyde CC, Churchwarden until October, continued to be an enthusiastic and valuable link between St Botolph’s and the Corporation, and our thanks go to her for this helpful liaison. In her capacity as Chairman of the Keats House Consultative Committee she had introduced Fr David and Mhairi to the Curator of Keats House in 2019, and further liaison continued in 2020 as part of the ongoing Keats200 commemorations. As the church where the poet was baptised, St Botolph’s had been delighted to host a successful evening of poetry and music marking the his birthday in 2019; a repetition of that event which had been planned for October 2020 was cancelled, but recordings of settings of Keats poems were made by Iestyn and one of the St Botolph’s singers for broadcast on future significant anniversaries of the poet’s life and death.

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The Churchyard continued to host for the first part of the year the sculpture ‘Reclining Nude 1’ by Kevin Francis Gray as part of the City of London’s ‘Sculpture in the City’ initiative. It was due to be replaced in the Summer by ‘Burial’ by Alice Channer, but the changeover was postponed due to the pandemic and the Gray piece remained in place to the end of the year. St Botolph’s was selected in 2018 as one of the City Churchyards to benefit from the City Churchyards Enhancement Programme, a joint initiative of the Corporation and the Diocese of London. Paul Gibson represented the church as part of the consultation process, and we look forward to hearing more about the plans in due course.

Fr David’s ex-officio roles on the Boards of the Bishopsgate Institute, The Central Foundation Schools of London, and the Samuel Butler Foundation continued. The church’s presence in these governance fora is an important part of our contribution to our area, and a further example of our acting to enable public benefit.

A church engaging with its community

Our website and social media pages are regularly updated with the latest news and have continued to attract new people to church, as have our regular advertisements in City Events. We publish full lists of services and events monthly online; special services and events are also advertised on A Church Near You and Eventbrite, with postings on the latter proving particularly successful in bringing new congregation members to carol services and raising awareness of our presence among different demographics. Our paper bulletin was replaced from the time of the first lockdown with regular emails from Fr David to a wider range of contacts. During the year the staff continued to work on plans for a refreshed website.

We are lucky to have the Hall and Court as additional facilities to offer our community, and for the first part of the year Paul Gibson made sure that both were booked to the highest capacity by firms, charities and other organisations both local and from further afield. Hall users from WeightWatchers to the Society for the Protection of Ancient Buildings, the Heroes Band to the City Historical Society, were made welcome by our team of diligent caretakers, supported by our efficient new cleaning firm Clean for Good.

A church that remembers

The year 2020 was bookended with the news of the deaths of two distinguished former members of the clergy at St Botolph’s. The PCC noted with sadness in January the death of St Botolph’s Rector from 1997 to 2006, The Revd Prebendary David Paton, in December 2019. His funeral had taken place near his home in France, but plans were made for a memorial service at All Saints Margaret Street in late March, followed by a City commemoration at St Botolph’s on Wednesday 1 April. Both these services had to be postponed because of the pandemic, but with the firm intention that they will proceed when larger services are once again permitted. Towards the end of the year we learned that our former Honorary Assistant Priest, The Revd Dr John Turner, who had served the church faithfully over 30 years until his retirement in 2017, had died in May 2020. Again we hope to be able to hold a memorial service for him in due course. May they rest in peace.

We heard during the year of the deaths of several other people closely connected to St Botolph’s, whether from coronavirus or other causes, and we are aware that when larger services are eventually allowed once more several memorial services will be requested. In the meantime we continue to pray for all those affected by the virus, for those caring for them, and for those who have died.

On Sunday 14 June we joined willingly in the Bishop of Kensington’s ‘Ring for Grenfell’ initiative to ring the bells of as many churches as possible in the Diocese to mark the third anniversary of the 72 deaths in the Grenfell Tower fire. Tommy came in specially to the closed church, valiantly tolled the bell 72 times, and was thanked on behalf of the Grenfell families in an email from the Bishop after the commemoration.

In late October, we welcomed back the Haemophilia Society for their Annual Service of Thanksgiving and Remembrance for those who have died as a result of treatment with contaminated blood products. Among many moving readings and musical items, Iestyn and the Choir gave a further performance of an anthem specially written for the service by members of the haemophiliac community. This was one of the first services using the new audio-visual equipment, so as well as the congregation in church hundreds were enabled to follow the service online.

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Continuing the theme of Remembrance, our own Choral Requiem for the Commemoration of All Souls, including beautiful music and the ceremonies of the solemn reading out the names of the deceased and lighting of candles in their memory, was additionally poignant because of the weight of knowledge of all the additional deaths due to the coronavirus pandemic.

On Friday 6 November only the principal officers of the Honourable Artillery Company attended St Botolph’s in person for their Remembrance Service, but nearly 500 viewed the service online. During the service a new wreath was laid by the HAC memorials; prior to the main service the old wreath was placed outside at the memorial Cross in the Churchyard (the first memorial to the Great War to be erected in London) with a short act of remembrance.

Fr David once again prepared to assist the Railway Chaplain with the leading of Remembrance prayers by the vast war memorial on Liverpool Street Station on Armistice Day, but sadly alterations to Government guidance concerning Remembrance services did not permit this commemoration to take place.

A church working charitably at home and abroad

We are deeply grateful that charitable giving of £11,350 has been possible in 2020—the PCC is committed to its role in assisting in a small way other charities wherever possible, and in 2020, despite the downturn in income, continued its deliberate policy of supporting charities already linked in some way with us.

During the year we continued our partnership with St Francis at the Engine Room in Tottenham Hale, and while this partnership continues the support of the Priest Missioner will continue to be the object of our Lenten collections and almsgiving. As in previous years (when they were seen as Common Fund top-ups) it was agreed to make grants towards parishes less well off: St Francis at the Engine Room and St Mary’s Cable Street both received support in this way. In addition, grants were made among others to Christian Aid, and to St Mungo’s for its work with the homeless. St Mungo’s was also one of the chosen charities for which we raised funds during Advent, along with MIND in Haringey.

We continued our close relationship with XLP (the ExCeL Project) based at All Hallows on the Wall in the parish. In the course of the year the PCC received XLP’s report on the final year’s tranche of the Section 106 funding earmarked for youth work from the Heron Tower, which St Botolph’s had channelled for the support of their ‘Ready to Work’ programme.

We were pleased to be able to act as agents in the processing of further charitable donations, and also, at times when bookings were permitted, to be able to offer our premises at greatly discounted rates for the use of local, national and international charities.

The Bishopsgate Ward Club, wishing to make further charitable donations to local causes during the pandemic, approached Fr David for advice on the distribution of £1,000, and agreed with his proposal that it be divided between St Mungo’s and XLP. St Botolph’s then received and passed on these grants, which were gratefully received by the charities.

The school which we built in 2012 in the parish of St Barnabas, Songo, Uige, Angola (in conjunction with our former US partner church St Barnabas, Greenwich, CT) continues to overflow with many hundreds of local pupils. During the year we exchanged seasonal greetings with the parish (with the help of Portuguese-speaking translators) and received an update from Songo in the form of a video showing the creation of clean water wells in the region. Happily this featured Archdeacon Garcia Kazayilawoko, the parish priest of St Barnabas, enabling Council members to put a face and voice to his name.

A church playing its part in the Diocese, and beyond

St Botolph’s has continued to pay its full share of Common Fund – at a significantly higher level now we have a full-time priest - and so support the wider charitable work of the Diocese.

St Botolph’s once again supported ‘Thy Kingdom Come’, the annual Week of Prayer from Ascension to Pentecost, in conjunction with the Diocesan initiative ‘Capital Vision 2020’.

We continued our membership of the Society of St Botolph, an informal linking of all the parishes in the UK and abroad dedicated to our patron saint.

Christine Ferris continued to sit on the City Deanery Synod, partnered until October by John Marshall and, from his election at the Annual Meeting, Alex Coles. We are grateful to them for their faithful attendance at meetings, and for their report on the Synod’s proceedings, presented to the Annual Meeting at the same time as this Report. This provides the PCC with an important link between the parish and the wider structures of the Church.

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The network of City church administrators and church workers, inaugurated in the early 2000s by Mhairi Ellis when she was Area Dean’s Assistant (and more recently enhanced by the addition of the administrators from the Westminster Deaneries) continues to operate. Now with Katrina Bradley, Administrator at St Lawrence Jewry and a former member of St Botolph’s congregation and PCC, at the helm, this network allows encouragement and support, assistance in need, and sharing of information across the Two Cities Area, although inevitably the liaison had to be virtual for the larger part of the year.

A well-staffed church

St Botolph’s benefits greatly from knowledgeable and dedicated staff. Paul Gibson and Mhairi Ellis have contributed greatly to the success of St Botolph’s for many years, yet remain innovative and focused in their work. Fr David and the Churchwardens are particularly thankful to the staff for adapting with good grace and flexibility to the unusual, and at times, trying working practices inflected due to the pandemic and lockdown regulations.

In all that we do at St Botolph’s, we endeavour to reflect the Christian ethics by which we live. In this respect we are very fortunate to have staff who openly share the ethos and aims of the church. When the staff are all working from the church, formal staff meetings are held each Monday morning, and from the time of the first lockdown, when Mhairi and Paul had to pack up necessary equipment and paperwork and start working from home, a pattern quickly developed of twice-weekly Zoom staff meetings.

Mhairi and Paul proved themselves willing and able to take on new roles and learn new skills whilst working from home and, taking advantage of sessions run at no or little cost by organisations and charities, between them they have notched up many hours of attendance at webinars covering digital media, website editing, property management, financial matters, fundraising and the future of church music.

Throughout the year the staff deal with many genealogical and historical queries, both from visitors to the church and in enquiries by email and telephone. They are always learning something new about the fascinating buildings in which they have the privilege to work. Occasionally we are offered gifts of historical items relating to the church which are gratefully received and carefully looked after.

Mhairi, having been appointed Parish Clerk of St Botolph’s following the resignation of John Hughesdon in 2017 and elected to membership of the Worshipful Company of Parish Clerks in 2018, continued to represent St Botolph’s during 2020 with attendance at the Company’s services and functions, mostly online.

Our caretaking team, Tommy Lacken, Jeff Parkinson and Ade Salau, for their part continued to work happily and efficiently, welcoming church, Hall and Court users for the first part of the year. During the first lockdown Tommy made regular visits to the church to check that all was secure and in order. When the church was able to open again, he became Fr David’s constant companion in the building and in services, and as he had to open early in the morning for the cleaner his hours became full time, with more hours added when the Antiochian community were able to return, necessitating another visit on Saturday morning to open up for the cleaner again. Tommy has been willing to turn his hand to any new and unusual tasks demanded by the pandemic and lockdowns. He has acted as server for all the Masses, and has become a technical expert in learning the complexities of the new online streaming equipment. His willingness and enthusiasm has been greatly appreciated.

For much of the remainder of the year there was little for Jeff and Ade to do. We were pleased to hear in October that Ade had been successful in securing full-time work elsewhere, although sad to see him leave as he had been a real asset to the team, and the PCC sent him on his way with a farewell bonus. This meant that Jeff was now asked to cover all the hours he and Ade formerly shared on Sundays – but not for long, as the second lockdown period in November meant that the Antiochians were not permitted to use the church on Sundays. We were, however, able to claim for Jeff under the Coronavirus Job Retention Scheme for this period.

Caretaker pay was once again increased in line with the London Living Wage, and towards the end of 2020 St Botolph’s was proud to become an employer accredited by the Living Wage Foundation.

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FINANCIAL REVIEW

The 2020 financial year has been an extremely challenging year for the parish with a substantial drop in income as a result of restrictions arising from the COVID pandemic including the closure of the church with total income less than half of that in 2019. Expenditure also fell somewhat as a consequence of these restrictions but not to the same extent as income, resulting in a net deficit of £94,467 of income over expenditure. These developments are discussed in more detail below.

Income

In general, parish income was considerably lower in 2020 at £201,790 than the much higher figure of £407,151 in 2019. The closure of the church and its facilities had a major impact on the commercial income generated from Church Hall lettings, Netball/Tennis Court receipts and the hire of the church which fell to £31,904 in 2020 from £115,872 in 2019. Income from General Fund donations fell from £39,838 in 2019 to £16,698 in 2020. Service collections also fell during the same period from £8,902 to just £448 reflecting the closure of the church for much of the time and the very small attendance in between periods of lockdown. Other donations fell from £22,813 in 2019 to £12,705 in 2020. Income tax recovery was lower too, falling from £6,565 to £2,807 reflecting the smaller eligible income on which to make eligible Gift Aid claims. The grant received from the Bishopsgate Church Foundation was £35,035 against a higher grant of £108,416 in 2019 in part to assist with Quinquennial works expenditure. The Voluntary Church Rate fell by 28% over the year from £39,087 to £28,126, but to retain as much as this at a time when most other businesses in the City are also facing major financial challenges reflects the earlier good work done in communicating with our business community. Investment income arising from the unrestricted funds fell slightly from £31,419 in 2019 to £30,242 in 2020 due to the reduction in the capital value of funds invested after the realisation of £60k of CCLA investments during the course of the year to meet cash flow commitments. However, the distribution income per unit actually increased over the year reflecting the resilient income distribution policy and underlying performance of the CCLA CBF Investment Fund.

Expenditure

The total expenditure figure for 2020 of £296,257 contrasts with the far higher 2019 figure of £415,573 and reflects reduced operational activity in 2020 as a result of the pandemic. Overall, total expenditure in 2020 of £296,257 exceeded total income of £201,790 giving rise to a significant deficit of £94,467 for the year compared with a much smaller deficit of £8,422 in 2019.

Investments

Investment performance during 2020 was extremely volatile with a significant downturn in the first half of the year and a major recovery in the second half of the year. The valuation of investments managed by CCLA benefited from improving markets during 2020 which led to unrealised gains of just over £84k or an increase of around 5.6% over the year from an opening balance of £1,493,035 to a closing balance of £1,517,162. The Rectory whose acquisition was funded by the realisation of investments assets in 2018 is shown in the balance sheet under tangible fixed assets at an original acquisition cost of £655k.

Since the financial year end on 31 December 2020, there have been significant effects on investment markets as a result of the COVID-19 pandemic with great volatility in markets from March 2020 onwards with implications for the valuation of investments managed by CCLA and income arising from those investments. Our investment strategy and asset allocation will be kept under review in the light of further developments.

Significant Post Balance Sheet Event: COVID-19

Since the financial year end on 31 December 2020 the Covid-19 pandemic and ongoing restrictions imposed by Government continue to depress the potential for income and it is still unclear as to when our commercial income is likely to recover fully although income from our CCLA investments and the letting income from the Rectory remain resilient. Our activities as a parish together with our investment strategy and asset allocation are being kept under continuous review in the light of further developments. However, notwithstanding these developments, the Parish has sufficient reserves to continue operating. The trustees consider that there are no material uncertainties about the PCC’s ability to continue as a going concern.

Reserves policy

During 2017 the Council approved the Finance Committee’s proposal that £70,000, representing three months’ salary and essential running costs, should be borne in mind as a basic reserve fund, although it was not necessary to set it aside separately as the General Fund already had substantial reserves in investments which could be readily called upon. The Council remained committed to rebuilding the Fabric Fund which had been depleted by the Quinquennial works in 2015-17.

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Stewardship

St Botolph’s operates a planned giving envelope scheme into which several congregation members have entered, and others give regularly by standing order. Gift Aid is reclaimed wherever applicable.

Alternative methods of donation and support

As the first lockdown went on, the church’s income continued to be depressed both by the lack of bookings of church, Hall, and Court, and by the lack of service collections which were not permitted during the pandemic period. From the time of the Patronal Festival in June service sheets, email circulations and website announcements gave gentle encouragement to those who would normally give regularly in services or occasionally by other means, to consider, if their financial circumstances permitted, making a regular or one-off donation to support St Botolph’s, and this approach bore some fruit.

The Council had entered into a contract with the contactless and mobile payment company SumUp in 2019, and contactless payment as an alternative to cash donations in services became more common as awareness was raised. Towards the end of 2020 the Verger undertook further research into a possible additional static device which would remove the need for interaction with a member of staff. The Administrator researched organisations which facilitate charitable donations during online shopping, and by the end of the year had registered St Botolph’s with Amazon Smile and was investigating Give as you Live and Easy Fundraising.

Statement of Trustees’ Responsibilities

The Council is responsible for keeping proper accounting records, for taking reasonable steps to safeguard the assets of the Parish and to prevent and detect fraud and other irregularities. The Council confirms that suitable accounting policies have been used and applied consistently, and reasonable and prudent judgements and estimates have been made in the preparation of the financial statements for the year ending 31 December 2020. The Council also confirms that applicable accounting standards have been followed and that the financial statements which appear with this Annual Report have been prepared on a going concern basis.

FR DAVID REFLECTS ON THE YEAR 2020

The past year has presented St Botolph’s with very many challenges and opportunities. Despite the strangeness of the situation, we have been given the opportunity to reach out afresh to existing and new congregations. As the majority of our regular congregation members were unable to attend services in person, our investment in professional quality livestreaming equipment has proved invaluable. It is appreciated especially by those, such as Livery Companies and the Honourable Artillery Company, for whom we hold occasional services in the church.

Whilst working from home meant absence from St Botolph’s for usual regular attendees, it meant we welcomed new faces to our services. During lockdown we attracted many new people from across London. Many had found us online and many came because we were one of the few churches to maintain as full a schedule of Masses as was possible throughout lockdown. All of this I could not do without the support of such dedicated staff. Thank you to the staff, Churchwardens, PCC and members of our congregations for all your advice and support during 2020, and most of all for your Christian friendship.

St Botolph’s is a place of God’s love and sanctuary in a busy and sometimes hostile world. I promise to endeavour as best I can to maintain and enhance that legacy which I, thank God, have inherited.

With God’s love and blessings, Fr David

OUR THANKS

St Botolph’s continues to flourish due to the dedication and support of many people: those who have been named in this report and countless other parishioners, friends and organisations who support us with their resources and their prayers.

The Parish Priest, Churchwardens and PCC continue to give thanks to Almighty God for his many mercies in the life of St Botolph’s, and for the increase of God’s Kingdom in this place.

On behalf of the PCC

The Revd David Armstrong, Rector, Chairman

13 May 2021

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CHARITY REGISTRATION NO. 1135985

PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST BOTOLPH WITHOUT BISHOPSGATE UNAUDITED FINANCIAL ACCOUNTS YEAR ENDED 31 DECEMBER 2020

LEVICKS

Chartered Accountants and Business Advisers 61 London Road

Maidstone Kent ME16 8TX

PAGE 1

PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST BOTOLPH WITHOUT BISHOPSGATE

Administrative Information

Priest in charge: The Reverend David T Armstrong

Bankers:

Allied Irish Bank (GB)

Independent Examiner:

J A Griggs FCA Levicks Chartered Accountants & Business Advisers 61 London Road Maidstone Kent ME16 8TX

Contents:	Page
Report of the Independent Examiner	2
Statement of financial activities	3
Balance sheet	4
Notes to the accounts	5-15

INDEPENDENT EXAMINER’S REPORT TO THE MEMBERS OF PAGE 2 ST. BOTOLPH WITHOUT BISHOPSGATE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31 DECEMBER 2020

I report on the accounts of the St Botolph without Bishopsgate Parochial Church Council (PCC) for the year ended 31 December 2020, which are set out on pages 3 to 15, in respect of an examination carried out under the Church Accounting Regulations 2006 and Section 145 of the Charities Act 2011.

Respective responsibilities of members and examiner

The members are responsible for the preparation of the accounts. The members consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.

It is my responsibility to:

• examine the accounts under section 145 of the Charities Act;

• to follow the procedures laid down in the General Directions given by the Charity Commissioner under section 145(5)(b) of the Charities Act; and

• to state whether particular matters have come to my attention.

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 Parochial Church Council and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and the seeking of explanations from you as members 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 material matters have come to my attention which gives me cause to believe that in any material respect:

• the accounting records were not kept in accordance with section 130 of the Charities Act; or

• the accounts did not accord with the accounting records; or

• 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 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.

61 London Road Maidstone Kent ME16 8TX

J A GRIGGS FCA LEVICKS

Chartered Accountants & Business Advisers

12 May 2021

PAROCHIAL CHURCH COUNCIL OF ST BOTOLPH WITHOUT BISHOPSGATE PAGE 3 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020

Note INCOME FROM: Donations and legacies 2(a)/(b) Charitable activities 2(c) Other 2(d) Investments 2(e) TOTAL INCOME EXPENDITURE ON: Charitable activities 3(a)/(b) Other 3(c) TOTAL EXPENDITURE NET INCOME/ (EXPENDITURE) Loss on disposal GAINS/(LOSSES) ON INVESTMENTS Investments transfers NET MOVEMENT IN FUNDS BEFORE TRANSFERS TRANSFERS BALANCES BROUGHT FORWARD AS AT 1 JANUARY 2020 BALANCES CARRIED FORWARD AS AT 31 DECEMBER 2020	Unrestricted Funds Restricted Funds Endowment Funds £ £ £ 82,609 697 - 31,904 - - 40,214 1,000 - 30,242 4,457 10,667 _ _ __ 184,969 6,154 10,667 _ _ _ 257,024 17,445 - 21,788 - - _ _ 278,812 17,445 - _ _ (93,843) (11,291) 10,667 (296) (39) - 54,350 8,593 21,796 (47,242) 47,242 - _ _ ___ (87,031) 44,505 32,463 10,158 509 (10,667) 1,122,508 843,857 360,020 1,045,635 888,871 381,816	Total 2020 £ 83,306 31,904 41,214 45,366 _ 201,790 _ 274,469 21,788 _ 296,257 _ (94,467) (335) 84,739 - _ (10,063) - 2,326,385 2,316,322	Funds 2019 £ 191,417 115,872 53,945 45,917 _ 407,151 _ 391,739 23,834 _ 415,573 _ (8,422) 652 210,661 - _ 202,891 - 2,123,494 2,326,385

PAROCHIAL CHURCH COUNCIL OF ST BOTOLPH WITHOUT BISHOPSGATE PAGE 4 BALANCE SHEET AS AT 31 DECEMBER 2020

Note FIXED ASSETS 4 Investments 4(a) Tangible fixed assets 4(b) CURRENT ASSETS Debtors 5 Cash at bank and in hand Liabilities: Amounts falling due within one year 6 NET CURRENT ASSETS NET ASSETS PARISH FUNDS: 8 General Fund (Pages 7 & 8) Fabric Fund (Page 9) Furnishings Fund (Page 9) Rectory Fund (Page 9) Clergy House Fund (Pages 9 & 11) Alan P Greenaway Bell Fund (Page 10) Cotts House Fund (Page 11) Car Fund (Page 11) Repair Fund (Page 11) Tottenham Hale Fund (Page 10) Rectory Maintenance Fund (Page 10)	Unrestricted Funds Restricted Funds Endowment Funds £ £ £ 971,974 163,372 381,816 12,416 655,059 - 984,390 818,431 381,816 56,214 3 - 39,697 72,829 - 95,911 72,832 - 34,666 2,392 - 61,245 70,440 - 1,045,635 888,871 381,816 1,045,635 - - - 65,648 - - 74,857 - - 655,059 - - 34,907 6,654 - 6,282 - - - 249,712 - - 10,000 - - 115,450 - - - - 52,118 - _ _ _ 1,045,635 888,871 381,816	Total 2020 £ 1,517,162 667,475 2,184,637 56,217 112,526 168,743 37,058 131,685 2,316,322 1,045,635 65,648 74,857 655,059 41,561 6,282 249,712 10,000 115,450 - 52,118 _ 2,316,322	Funds 2019 £ 1,493,035 668,261 2,161,296 41,086 208,567 249,653 84,564 165,089 2,326,385 1,122,508 18,329 80,770 655,059 34,762 6,546 235,419 10,000 108,021 510 54,461 _ 2,326,385

Reverend D Armstong - Chairman

F E Curtiss - Member

11 May 2021

PAROCHIAL CHURCH COUNCIL OF ST BOTOLPH WITHOUT BISHOPSGATE PAGE 5 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

1. ACCOUNTING POLICIES

Basis of preparation and assessment of going concern

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard FRS102, the Charities Act 2011 and the Church Accounting Regulations 2006.

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

The accounts include all transactions, assets and liabilities for which the PCC can be held responsible. 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.

The PCC constitutes a public benefit entity as defined by FRS102.

FUNDS

General Fund represents the fund of the PCC that is not subject to any special restriction regarding its use and is available for application for the general purposes of the PCC. All of the other funds are restricted as to their use. They represent the monies given throughout the year for the benefit of a wide range of purposes. The PCC is required to apply these funds for the purpose dictated by the donor. Endowment funds are restricted funds where either money or assets have been given to the church with the specific instruction that only the income gained can be spent or assets donated for continued use by the church or for capital growth. Endowment funds are accounted for in accordance with the specific requirements of the funding donor.

INCOME RECOGNITION

Voluntary income and capital sources:

Collections are recognised when received by or on behalf of the PCC. Income tax recoverable on gift aid donations is recognised when the tax is recoverable.

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

Income from Investments:

Dividends and interest are accounted for when receivable.

Where separate investments are held for funds interest is credited to that fund. Other interest is apportioned to individual funds on an average balance basis.

EXPENDITURE RECOGNITION

Grants:

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

Activities directly relating to the work of the Church:

The Common Fund Parish Share is accounted for when payable. Any Parish share unpaid at the year end is provided for as a liability and shown as a creditor on the balance sheet.

Insurance:

The cost of the insurance policy premiums relating to the Church itself are met by the City Churches Grants Committee. The Church pays the premiums relating to the policies covering its other activities.

Other expenditure:

All other expenditure is accounted for as incurred or when there is an obligation for payment and is accounted for gross of VAT.

PAROCHIAL CHURCH COUNCIL OF ST BOTOLPH WITHOUT BISHOPSGATE PAGE 6 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

FIXED ASSETS AND DEPRECIATION

Consecrated land and buildings and moveable Church furnishings: Consecrated and beneficial property is excluded from the accounts as permitted under the Charities Act 2011.

No value is placed on moveable 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 moveable church furnishings, whether maintenance or improvement, is written off as expenditure in the statement of financial activities and separately disclosed.

Property, fixtures, fittings, office and electronic equipment: Each individual item of property and equipment, costing £2,500 or more, used within the Church premises and or for the purposes of the ministry, is capitalised. Depreciation is provided on the cost less residual value over the currently anticipated useful economic life of the asset at the following rates. Where residual value exceeds cost no depreciation is provided.

Office furniture – 20% Straight Line Office Equipment – 6 years Straight Line Rectory – nil

INVESTMENT GAINS AND LOSSES

Investments are stated at market value and the annual unrealised gain or loss is shown in the statement of financial activities. Realised gains or losses are shown when the investment is sold. Investments are held to generate funds for the PCC.

FUND TRANSFERS

Transfers between funds are included only where restrictions permit such transfers or it is necessary to properly reflect the underlying assets of the funds.

CURRENT ASSETS

Amounts owing to the PCC at 31 December are shown as debtors.

Prepayments represent sums paid prior to the balance sheet date in respect of expenses relating to the following year.

CURRENT LIABILITIES

Creditors and accruals represent sums irrevocably committed for payment prior to the balance sheet date which were not settled as at that date.

RETIREMENT BENEFIT SCHEME

The PCC operates a defined contribution pension scheme to which all paid employees are invited to contribute. Employer’s pension contributions amount to 5% of gross salary made each month and employees a minimum of 4% of gross monthly salary. The scheme complies with the requirements of auto enrolment and provides a pension for members, payable from retirement, accumulated from contributions paid during employment.

PAROCHIAL CHURCH COUNCIL OF ST BOTOLPH WITHOUT BISHOPSGATE PAGE 7 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

UNRESTRICTED FUND - GENERAL FUND

2. INCOME 2(a) Donations Collections at services Alms box and candles Donations Income tax recovered 2(b) Grants and voluntary rates Grant - Bishopsgate Church Foundation (Rector and Warden Fund) Parish Voluntary Church Rate Burial ground grant 2(c) Charitable activities Hall lettings Netball and tennis receipts Hire of church 2(d) Other income Bell fees Music fees Licence fees Church fees Rectory income 2(e) Investments CBF Investment Fund dividends TOTAL INCOME	2020 £ 448 738 12,705 2,807 __ 16,698 _ 35,035 28,126 2,750 65,911 18,461 12,264 1,179 31,904 - 7,582 5,727 - 26,905 40,214 30,242 ___ 184,969	2019 £ 8,902 1,558 22,813 6,565 __ 39,838 _ 108,416 39,087 2,750 150,253 54,603 55,833 5,436 115,872 300 17,553 13,274 818 22,000 53,945 31,419 ___ 391,327

PAROCHIAL CHURCH COUNCIL OF ST BOTOLPH WITHOUT BISHOPSGATE PAGE 8 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

UNRESTRICTED FUND - GENERAL FUND

3. EXPENDITURE ON CHARITABLE ACTIVITIES

3(a) Grants and donations Missionary and charitable giving 3(b) Activities directly relating to the work of the Church Ministry - rectory maintenance - priest in charge expenses - locum priests Staff remuneration and benefits Staff pension contributions Church maintenance Hall maintenance Church running costs Hall running costs Court running and maintenance costs Organist, choir and music Bell ringer’s fees Diocesan Common Fund Housing allowance Church service requisites and service books Hospitality, outreach, mission and engagement General expenses Provision for depreciation Professional fees Fee assignment Quinquennial works Organ rebuild project 3(c) Other Bank charges Advertising and publicity Printing, postage and stationery Telephone and broadband Bookkeeping and accountancy fees Computer consultancy support services and security TOTAL EXPENDITURE NET INCOME/(EXPENDITURE) Loss on disposal GAINS AND (LOSSES) ON INVESTMENTS Investment transfer to restricted funds NET MOVEMENT IN FUNDS BEFORE TRANSFERS TRANSFERS BALANCES BROUGHT FORWARD AS AT 1 JANUARY 2020 BALANCES CARRIED FORWARD AS AT 31 DECEMBER 2020	2020 £ 9,750 3,960 1,156 108 80,076 7,189 5,627 3,863 14,778 10,380 378 23,428 - 72,500 16,000 481 - 3,514 786 - - - 3,050 247,274 604 3,102 3,297 3,097 6,000 5,688 21,788 278,812 (93,843) (296) 54,350 (47,242) (87,031) 10,158 1,122,508 1,045,635	2019 £ 14,194 6,070 2,574 819 109,401 7,071 8,629 6,111 15,415 16,089 457 35,646 300 70,500 7,353 1,766 635 5,578 786 - 354 69,781 7,840 373,175 708 856 3,402 7,515 6,000 5,353 23,834 411,203 (19,876) - 146,334 - 126,458 10,578 985,472 1,122,508

PAROCHIAL CHURCH COUNCIL OF ST BOTOLPH WITHOUT BISHOPSGATE PAGE 9 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

RESTRICTED FUNDS

2. INCOME

Fabric Fund Furnishings Fund Clergy House Fund £ £ £ 2(a) Donations Collections at services - - - Donations - - - 2(e) Investments Bank deposit interest - - - CBF Deposit Fund interest - - - CBF Investment Fund dividends 1,305 2,085 827 2(d) Other _ TOTAL INCOME 1,305 2,085 827 _ 3. EXPENDITURE 3(b) Activities directly relating to the work of the Church Rector’s expenses - - - Rectory maintenance - - - Church service requisites and service books - - - Furnishings - 12,016 - Quinquennial works - - - _ TOTAL EXPENDITURE - 12,016 - _ NET INCOME/(EXPENDITURE) 1,305 (9,931) 827 Investment transfer from general fund 43,156 - 4,086 GAINS AND (LOSSES) ON INVESTMENTS 2,858 4,018 1,757 Loss on disposal - - - _ __ NET MOVEMENT IN FUNDS BEFORE TRANSFERS 47,319 (5,913) 6,670 TRANSFERS - - 55 BALANCES BROUGHT FORWARD AS AT 1 JANUARY 2020 18,329 80,770 28,182 BALANCES CARRIED FORWARD AS AT 31 DECEMBER 2020 65,648 74,857 34,907

Rectory Fund £ - - - - - __ - _ - - - - - - - - - - ___ - - 655,059 655,059

PAROCHIAL CHURCH COUNCIL OF ST BOTOLPH WITHOUT BISHOPSGATE PAGE 10 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

RESTRICTED FUNDS

2. INCOME

	Rectory	Tottenham	Alan P	Alan P
	Maintenance	Hale	Greenaway
	Fund	Fund	Bell Fund
	£	£	£
2(a) Donations
Collections at services	-	-		-
Donations	-	602		-
Income tax recovered	-	95		-
2(d) Other
Dilapidations	1,000	-		-
2(e) Investments
Bank deposit interest	49	-		-
CBF Deposit Fund interest	-	-		-
CBF Investment Fund dividends	-	-		191
	_____	_____	_____
TOTAL INCOME	1,049	697		191
	_____	_____	_____
3. EXPENDITURE
3(a) Grants and donations	-	-		-
3(b) Activities directly relating to the work of
the Church
Mission, hospitality, representation and	-	61		-
engagement
Maintenance and repairs	3,392	-		376
Grant to priest missioner	-	1,600		-
	______	______	_____
TOTAL EXPENDITURE	3,392	1,661		376
	______	______	_____
NET INCOME/(EXPENDITURE)	(2,343)	(964)	(185)
Loss on disposal	-	-		(39)
GAINS AND (LOSSES) ON
INVESTMENTS	-	-		(40)
Investment transfer from general fund	-	-		-
	______	______	_____
NET MOVEMENT IN FUNDS BEFORE
TRANSFERS	(2,343)	(964)	(264)
TRANSFERS	-	454		-
BALANCES BROUGHT FORWARD AS
AT 1 JANUARY 2020	54,461	510	6,546
BALANCES CARRIED FORWARD AS
AT 31 DECEMBER 2020	52,118	-	6,282

PAROCHIAL CHURCH COUNCIL OF ST BOTOLPH WITHOUT BISHOPSGATE PAGE 11 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

ENDOWMENT FUNDS

2. INCOME

2(a) Donations 2(e) Investments CBF Deposit Fund interest CBF Investment Fund dividends TOTAL INCOME 3. EXPENDITURE 3(b) Activities directly relating to the work of the Church TOTAL EXPENDITURE NET INCOME/(EXPENDITURE) Profit on disposal GAINS AND (LOSSES) ON INVESTMENTS NET MOVEMENT IN FUNDS BEFORE TRANSFERS TRANSFERS BALANCES BROUGHT FORWARD AS AT 1 JANUARY 2020 BALANCES CARRIED FORWARD AS AT 31 DECEMBER 2020	Repair Clergy House Fund Fund £ £ - 23 3,234 32 __ _ 3,234 55 - - - - 3,234 55 7,429 74 ___ 10,663 129 (3,234) (55) 108,021 6,580 115,450 6,654	Car Fund £ 42 - __ 42 _ - - 42 - ___ 42 (42) 10,000 10,000	Cotts House Fund £ - 7,336 __ 7,336 _ - - 7,336 14,293 ___ 21,629 (7,336) 235,419
			249,712

PAROCHIAL CHURCH COUNCIL OF ST BOTOLPH WITHOUT BISHOPSGATE PAGE 12 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

4. FIXED ASSETS

(a) Investments

	Unrestricted	Restricted Endowment	Restricted Endowment	Total
	£	£ £		£
Market value as at 31 December 2019	1,015,162	117,853 360,020		1,493,035
Additions at cost	-	47,242	-	47,242
Disposals at market value	(97,242)	(10,277)	-	(107,519)
Loss on disposal	(296)	(39)	-	(335)
Gain/(Loss) on revaluation	54,350	8,593 21,796		84,739
	______	__ ____		__
Market value as at 31 December 2020	971,974	163,372 381,816		1,517,162
	______	______ ______		__
Historical cost as at 31 December 2020	548,132	121,433 178,085		847,650
	______	______ ______		__
Investments are held in the Church of England CBF’s Investment Income and Property Funds,			and CBF Deposit
Funds.
(b) Tangible Fixed Assets
	Fixtures and	Rectory		Total
	Equipment
Cost
Opening balance at 1 January 2020	22,304	655,059		677,363
	______	______		______
Closing Balance at 31 December 2020	22,304	655,059		677,363
	______	______		______
Accumulated Depreciation
Opening Balance 1 January 2020	9,102	-		9,102
Provision for the Year	786	-		786
	______	______		______
Closing Balance 31 December 2020	9,888	-		9,888
	______	______		______
Net Book Values
Opening Balance 1 January 2020	13,202	655,059		668,261
	______	______		______
Closing balance 31 December 2020	12,416	655,059		667,475
	______	______		______

PAROCHIAL CHURCH COUNCIL OF ST BOTOLPH WITHOUT BISHOPSGATE PAGE 13 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

5. DEBTORS AND PREPAYMENTS

	2020	2019
	£	£
Monies owed by restricted funds to
unrestricted funds	2,392	4,914
Debtors	53,825	36,172
	______	______
	56,217	41,086
	______	______

Debtors as at 31 December 2020 includes the following; donations £1,541 music fees £4,480, gift aid £11,865, voluntary church rate £15,726, hall hire £3,568, court hire £2,440, Bishopsgate Church Foundation £4,955, HMRC £4,000, water overcharge refund £3,307 (2019, donations £8,598, gift aid £7,755, voluntary church rate £1,566, music fees £8,820).

6. LIABILITIES: AMOUNTS FALLING DUE WITHIN ONE YEAR

	2020	2019
	£	£
Monies owed by restricted funds to
unrestricted funds	2,392	4,914
Creditors	34,666	79,650
	______	______
	37,058	84,564
	______	______

Creditors as at 31 December 2020 includes the following; court hire fees in advance £13,610, hall hire in advance £975, accountancy fees £6,000, agency £6,018, staff pension contributions £2,547, HMRC £2,310, mission £1,000 (2019, monies held on behalf of Bishopsgate Church Foundation pending investment after the year end £21,372, court hire fees in advance £20,032, hall hire in advance £9,690).

7. STAFF COSTS

	2020	2019
	£	£
Salaries and benefits	72,338	101,162
Employer’s national insurance	7,738	8,239
Pension costs	7,189	7,071
	______	______
	87,265	116,472
	______	______

The average number of employees during the year was 4 (2019 -4). None was paid more than £60,000.

PAROCHIAL CHURCH COUNCIL OF ST BOTOLPH WITHOUT BISHOPSGATE PAGE 14 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

8. FUND DETAILS

General Fund	For the provision of services and the upkeep, running costs and administration
	of the Church and Hall. For furthering the mission and ministry of the Church.
Fabric Fund	For meeting extraordinary expenditure on the Church building, organ and
	Churchyard.
Furnishings Fund	For the renewal of Church furniture, furnishings and ornaments. It includes
	the former Lady Chapel Fund, Stanley Moore Fund, Hilda Jenkins Legacy and
	the R J A Clarke Legacy.
Clergy House Fund	For the maintenance of the incumbents’ residence. The funds are held partly
	by endowment and partly independent funds. Income on the endowment is
	transferred to the restricted deposit funds.
Alan P Greenaway Bell Fund	For the maintenance of the church tower, bells and clock.
Cotts House Fund	Capital held on trust following an order of the Diocesan Chancellor regarding
	Licence Fees. By resolution of the PCC the annual interest is passed to the
	General Fund as contribution towards payment of wages and salaries.
Repair Fund	Originating from compensation for the extinguishment of tithes. Income is
	remitted to the parish and can be used for church and churchyard repairs and
	the salaries of church officers.
Tottenham Hale Fund	Funding provided to establish outreach at the new residential district of
	Tottenham Hale and support for the priest missioner.
Car Fund	Fund providing interest which is transferred to the General Fund for payment
	of the rector’s travel expenses.
Rectory Fund	Represents the majority portion of the funds liquidated from the Easement
	Monies Fund in December 2018 invested in purchase of the rectory.
Rectory Maintenance Fund	The balance of the funds from the liquidation of the Easement Monies Fund
	in December 2018 to be used for maintenance of the church rectory.

9. INDEPENDENT EXAMINER’S FEE

The fee to be charged by the independent examiner is £1,800 including VAT for the examination and £4,200 including VAT for accounting services.

PAROCHIAL CHURCH COUNCIL OF ST BOTOLPH WITHOUT BISHOPSGATE PAGE 15 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

10. PAYMENTS TO PCC MEMBERS

No PCC member or related party to the PCC has been paid or is payable remuneration or expenses from the funds of the PCC. The expenses paid to the clergy may include a small immaterial proportion which relates to their function as PCC members.

There are no key management personnel paid by the PCC.

There were no donations made to the PCC, by trustees, with conditions attached. The aggregate of trustee donations without conditions was £2,881.

11. CONNECTED CHARITY

The Parochial Church Council of St Botolph without Bishopsgate is connected to the Bishopsgate Church Foundation, informally known as St Botolph without Bishopsgate Rector and Warden Fund. This Charity was created exclusively to manage the income that the Church of St Botolph without Bishopsgate receives annually from the Bishopsgate Foundation in respect of properties once owned by the Parish Estates of St Botolph, Bishopsgate. It is managed by the Rector and Church Wardens of the Church of St Botolph, Bishopsgate. The Charity can be contacted at The Vestry, St Botolph without Bishopsgate, Bishopsgate, London, EC2M 3TL.

12. TRANSFERS

Cotts House Fund

Annual interest passed to the General Fund as contribution to wages and salary costs in accordance with the resolution of the PCC.

Clergy House Fund

Endowment: Dividends are transferred from endowment to restricted funds on an annual basis.

Repair Fund

Income transferred to the parish for church and churchyard repairs and salaries of church officers.

Car Fund

Endowment: Interest transferred to General Fund as contribution to the priest in charge travel costs.

CHARITY REGISTRATION NO. 1135985

PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST BOTOLPH WITHOUT BISHOPSGATE UNAUDITED FINANCIAL ACCOUNTS YEAR ENDED 31 DECEMBER 2020

LEVICKS

Chartered Accountants and Business Advisers 61 London Road

Maidstone Kent ME16 8TX

PAGE 1

PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST BOTOLPH WITHOUT BISHOPSGATE

Administrative Information

Priest in charge: The Reverend David T Armstrong

Bankers:

Allied Irish Bank (GB)

Independent Examiner:

J A Griggs FCA Levicks Chartered Accountants & Business Advisers 61 London Road Maidstone Kent ME16 8TX

Contents:	Page
Report of the Independent Examiner	2
Statement of financial activities	3
Balance sheet	4
Notes to the accounts	5-15

INDEPENDENT EXAMINER’S REPORT TO THE MEMBERS OF PAGE 2 ST. BOTOLPH WITHOUT BISHOPSGATE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31 DECEMBER 2020

I report on the accounts of the St Botolph without Bishopsgate Parochial Church Council (PCC) for the year ended 31 December 2020, which are set out on pages 3 to 15, in respect of an examination carried out under the Church Accounting Regulations 2006 and Section 145 of the Charities Act 2011.

Respective responsibilities of members and examiner

The members are responsible for the preparation of the accounts. The members consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.

It is my responsibility to:

• examine the accounts under section 145 of the Charities Act;

• to follow the procedures laid down in the General Directions given by the Charity Commissioner under section 145(5)(b) of the Charities Act; and

• to state whether particular matters have come to my attention.

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 Parochial Church Council and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and the seeking of explanations from you as members 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 material matters have come to my attention which gives me cause to believe that in any material respect:

• the accounting records were not kept in accordance with section 130 of the Charities Act; or

• the accounts did not accord with the accounting records; or

• 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 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.

61 London Road Maidstone Kent ME16 8TX

J A GRIGGS FCA LEVICKS

Chartered Accountants & Business Advisers

12 May 2021

PAROCHIAL CHURCH COUNCIL OF ST BOTOLPH WITHOUT BISHOPSGATE PAGE 3 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020

Note INCOME FROM: Donations and legacies 2(a)/(b) Charitable activities 2(c) Other 2(d) Investments 2(e) TOTAL INCOME EXPENDITURE ON: Charitable activities 3(a)/(b) Other 3(c) TOTAL EXPENDITURE NET INCOME/ (EXPENDITURE) Loss on disposal GAINS/(LOSSES) ON INVESTMENTS Investments transfers NET MOVEMENT IN FUNDS BEFORE TRANSFERS TRANSFERS BALANCES BROUGHT FORWARD AS AT 1 JANUARY 2020 BALANCES CARRIED FORWARD AS AT 31 DECEMBER 2020	Unrestricted Funds Restricted Funds Endowment Funds £ £ £ 82,609 697 - 31,904 - - 40,214 1,000 - 30,242 4,457 10,667 _ _ __ 184,969 6,154 10,667 _ _ _ 257,024 17,445 - 21,788 - - _ _ 278,812 17,445 - _ _ (93,843) (11,291) 10,667 (296) (39) - 54,350 8,593 21,796 (47,242) 47,242 - _ _ ___ (87,031) 44,505 32,463 10,158 509 (10,667) 1,122,508 843,857 360,020 1,045,635 888,871 381,816	Total 2020 £ 83,306 31,904 41,214 45,366 _ 201,790 _ 274,469 21,788 _ 296,257 _ (94,467) (335) 84,739 - _ (10,063) - 2,326,385 2,316,322	Funds 2019 £ 191,417 115,872 53,945 45,917 _ 407,151 _ 391,739 23,834 _ 415,573 _ (8,422) 652 210,661 - _ 202,891 - 2,123,494 2,326,385

PAROCHIAL CHURCH COUNCIL OF ST BOTOLPH WITHOUT BISHOPSGATE PAGE 4 BALANCE SHEET AS AT 31 DECEMBER 2020

Note FIXED ASSETS 4 Investments 4(a) Tangible fixed assets 4(b) CURRENT ASSETS Debtors 5 Cash at bank and in hand Liabilities: Amounts falling due within one year 6 NET CURRENT ASSETS NET ASSETS PARISH FUNDS: 8 General Fund (Pages 7 & 8) Fabric Fund (Page 9) Furnishings Fund (Page 9) Rectory Fund (Page 9) Clergy House Fund (Pages 9 & 11) Alan P Greenaway Bell Fund (Page 10) Cotts House Fund (Page 11) Car Fund (Page 11) Repair Fund (Page 11) Tottenham Hale Fund (Page 10) Rectory Maintenance Fund (Page 10)	Unrestricted Funds Restricted Funds Endowment Funds £ £ £ 971,974 163,372 381,816 12,416 655,059 - 984,390 818,431 381,816 56,214 3 - 39,697 72,829 - 95,911 72,832 - 34,666 2,392 - 61,245 70,440 - 1,045,635 888,871 381,816 1,045,635 - - - 65,648 - - 74,857 - - 655,059 - - 34,907 6,654 - 6,282 - - - 249,712 - - 10,000 - - 115,450 - - - - 52,118 - _ _ _ 1,045,635 888,871 381,816	Total 2020 £ 1,517,162 667,475 2,184,637 56,217 112,526 168,743 37,058 131,685 2,316,322 1,045,635 65,648 74,857 655,059 41,561 6,282 249,712 10,000 115,450 - 52,118 _ 2,316,322	Funds 2019 £ 1,493,035 668,261 2,161,296 41,086 208,567 249,653 84,564 165,089 2,326,385 1,122,508 18,329 80,770 655,059 34,762 6,546 235,419 10,000 108,021 510 54,461 _ 2,326,385

Reverend D Armstong - Chairman

F E Curtiss - Member

11 May 2021

PAROCHIAL CHURCH COUNCIL OF ST BOTOLPH WITHOUT BISHOPSGATE PAGE 5 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

1. ACCOUNTING POLICIES

Basis of preparation and assessment of going concern

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard FRS102, the Charities Act 2011 and the Church Accounting Regulations 2006.

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

The accounts include all transactions, assets and liabilities for which the PCC can be held responsible. 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.

The PCC constitutes a public benefit entity as defined by FRS102.

FUNDS

General Fund represents the fund of the PCC that is not subject to any special restriction regarding its use and is available for application for the general purposes of the PCC. All of the other funds are restricted as to their use. They represent the monies given throughout the year for the benefit of a wide range of purposes. The PCC is required to apply these funds for the purpose dictated by the donor. Endowment funds are restricted funds where either money or assets have been given to the church with the specific instruction that only the income gained can be spent or assets donated for continued use by the church or for capital growth. Endowment funds are accounted for in accordance with the specific requirements of the funding donor.

INCOME RECOGNITION

Voluntary income and capital sources:

Collections are recognised when received by or on behalf of the PCC. Income tax recoverable on gift aid donations is recognised when the tax is recoverable.

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

Income from Investments:

Dividends and interest are accounted for when receivable.

Where separate investments are held for funds interest is credited to that fund. Other interest is apportioned to individual funds on an average balance basis.

EXPENDITURE RECOGNITION

Grants:

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

Activities directly relating to the work of the Church:

The Common Fund Parish Share is accounted for when payable. Any Parish share unpaid at the year end is provided for as a liability and shown as a creditor on the balance sheet.

Insurance:

The cost of the insurance policy premiums relating to the Church itself are met by the City Churches Grants Committee. The Church pays the premiums relating to the policies covering its other activities.

Other expenditure:

All other expenditure is accounted for as incurred or when there is an obligation for payment and is accounted for gross of VAT.

PAROCHIAL CHURCH COUNCIL OF ST BOTOLPH WITHOUT BISHOPSGATE PAGE 6 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

FIXED ASSETS AND DEPRECIATION

Consecrated land and buildings and moveable Church furnishings: Consecrated and beneficial property is excluded from the accounts as permitted under the Charities Act 2011.

No value is placed on moveable 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 moveable church furnishings, whether maintenance or improvement, is written off as expenditure in the statement of financial activities and separately disclosed.

Property, fixtures, fittings, office and electronic equipment: Each individual item of property and equipment, costing £2,500 or more, used within the Church premises and or for the purposes of the ministry, is capitalised. Depreciation is provided on the cost less residual value over the currently anticipated useful economic life of the asset at the following rates. Where residual value exceeds cost no depreciation is provided.

Office furniture – 20% Straight Line Office Equipment – 6 years Straight Line Rectory – nil

INVESTMENT GAINS AND LOSSES

Investments are stated at market value and the annual unrealised gain or loss is shown in the statement of financial activities. Realised gains or losses are shown when the investment is sold. Investments are held to generate funds for the PCC.

FUND TRANSFERS

Transfers between funds are included only where restrictions permit such transfers or it is necessary to properly reflect the underlying assets of the funds.

CURRENT ASSETS

Amounts owing to the PCC at 31 December are shown as debtors.

Prepayments represent sums paid prior to the balance sheet date in respect of expenses relating to the following year.

CURRENT LIABILITIES

Creditors and accruals represent sums irrevocably committed for payment prior to the balance sheet date which were not settled as at that date.

RETIREMENT BENEFIT SCHEME

The PCC operates a defined contribution pension scheme to which all paid employees are invited to contribute. Employer’s pension contributions amount to 5% of gross salary made each month and employees a minimum of 4% of gross monthly salary. The scheme complies with the requirements of auto enrolment and provides a pension for members, payable from retirement, accumulated from contributions paid during employment.

PAROCHIAL CHURCH COUNCIL OF ST BOTOLPH WITHOUT BISHOPSGATE PAGE 7 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

UNRESTRICTED FUND - GENERAL FUND

2. INCOME 2(a) Donations Collections at services Alms box and candles Donations Income tax recovered 2(b) Grants and voluntary rates Grant - Bishopsgate Church Foundation (Rector and Warden Fund) Parish Voluntary Church Rate Burial ground grant 2(c) Charitable activities Hall lettings Netball and tennis receipts Hire of church 2(d) Other income Bell fees Music fees Licence fees Church fees Rectory income 2(e) Investments CBF Investment Fund dividends TOTAL INCOME	2020 £ 448 738 12,705 2,807 __ 16,698 _ 35,035 28,126 2,750 65,911 18,461 12,264 1,179 31,904 - 7,582 5,727 - 26,905 40,214 30,242 ___ 184,969	2019 £ 8,902 1,558 22,813 6,565 __ 39,838 _ 108,416 39,087 2,750 150,253 54,603 55,833 5,436 115,872 300 17,553 13,274 818 22,000 53,945 31,419 ___ 391,327

PAROCHIAL CHURCH COUNCIL OF ST BOTOLPH WITHOUT BISHOPSGATE PAGE 8 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

UNRESTRICTED FUND - GENERAL FUND

3. EXPENDITURE ON CHARITABLE ACTIVITIES

3(a) Grants and donations Missionary and charitable giving 3(b) Activities directly relating to the work of the Church Ministry - rectory maintenance - priest in charge expenses - locum priests Staff remuneration and benefits Staff pension contributions Church maintenance Hall maintenance Church running costs Hall running costs Court running and maintenance costs Organist, choir and music Bell ringer’s fees Diocesan Common Fund Housing allowance Church service requisites and service books Hospitality, outreach, mission and engagement General expenses Provision for depreciation Professional fees Fee assignment Quinquennial works Organ rebuild project 3(c) Other Bank charges Advertising and publicity Printing, postage and stationery Telephone and broadband Bookkeeping and accountancy fees Computer consultancy support services and security TOTAL EXPENDITURE NET INCOME/(EXPENDITURE) Loss on disposal GAINS AND (LOSSES) ON INVESTMENTS Investment transfer to restricted funds NET MOVEMENT IN FUNDS BEFORE TRANSFERS TRANSFERS BALANCES BROUGHT FORWARD AS AT 1 JANUARY 2020 BALANCES CARRIED FORWARD AS AT 31 DECEMBER 2020	2020 £ 9,750 3,960 1,156 108 80,076 7,189 5,627 3,863 14,778 10,380 378 23,428 - 72,500 16,000 481 - 3,514 786 - - - 3,050 247,274 604 3,102 3,297 3,097 6,000 5,688 21,788 278,812 (93,843) (296) 54,350 (47,242) (87,031) 10,158 1,122,508 1,045,635	2019 £ 14,194 6,070 2,574 819 109,401 7,071 8,629 6,111 15,415 16,089 457 35,646 300 70,500 7,353 1,766 635 5,578 786 - 354 69,781 7,840 373,175 708 856 3,402 7,515 6,000 5,353 23,834 411,203 (19,876) - 146,334 - 126,458 10,578 985,472 1,122,508

PAROCHIAL CHURCH COUNCIL OF ST BOTOLPH WITHOUT BISHOPSGATE PAGE 9 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

RESTRICTED FUNDS

2. INCOME

Fabric Fund Furnishings Fund Clergy House Fund £ £ £ 2(a) Donations Collections at services - - - Donations - - - 2(e) Investments Bank deposit interest - - - CBF Deposit Fund interest - - - CBF Investment Fund dividends 1,305 2,085 827 2(d) Other _ TOTAL INCOME 1,305 2,085 827 _ 3. EXPENDITURE 3(b) Activities directly relating to the work of the Church Rector’s expenses - - - Rectory maintenance - - - Church service requisites and service books - - - Furnishings - 12,016 - Quinquennial works - - - _ TOTAL EXPENDITURE - 12,016 - _ NET INCOME/(EXPENDITURE) 1,305 (9,931) 827 Investment transfer from general fund 43,156 - 4,086 GAINS AND (LOSSES) ON INVESTMENTS 2,858 4,018 1,757 Loss on disposal - - - _ __ NET MOVEMENT IN FUNDS BEFORE TRANSFERS 47,319 (5,913) 6,670 TRANSFERS - - 55 BALANCES BROUGHT FORWARD AS AT 1 JANUARY 2020 18,329 80,770 28,182 BALANCES CARRIED FORWARD AS AT 31 DECEMBER 2020 65,648 74,857 34,907

Rectory Fund £ - - - - - __ - _ - - - - - - - - - - ___ - - 655,059 655,059

PAROCHIAL CHURCH COUNCIL OF ST BOTOLPH WITHOUT BISHOPSGATE PAGE 10 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

RESTRICTED FUNDS

2. INCOME

	Rectory	Tottenham	Alan P	Alan P
	Maintenance	Hale	Greenaway
	Fund	Fund	Bell Fund
	£	£	£
2(a) Donations
Collections at services	-	-		-
Donations	-	602		-
Income tax recovered	-	95		-
2(d) Other
Dilapidations	1,000	-		-
2(e) Investments
Bank deposit interest	49	-		-
CBF Deposit Fund interest	-	-		-
CBF Investment Fund dividends	-	-		191
	_____	_____	_____
TOTAL INCOME	1,049	697		191
	_____	_____	_____
3. EXPENDITURE
3(a) Grants and donations	-	-		-
3(b) Activities directly relating to the work of
the Church
Mission, hospitality, representation and	-	61		-
engagement
Maintenance and repairs	3,392	-		376
Grant to priest missioner	-	1,600		-
	______	______	_____
TOTAL EXPENDITURE	3,392	1,661		376
	______	______	_____
NET INCOME/(EXPENDITURE)	(2,343)	(964)	(185)
Loss on disposal	-	-		(39)
GAINS AND (LOSSES) ON
INVESTMENTS	-	-		(40)
Investment transfer from general fund	-	-		-
	______	______	_____
NET MOVEMENT IN FUNDS BEFORE
TRANSFERS	(2,343)	(964)	(264)
TRANSFERS	-	454		-
BALANCES BROUGHT FORWARD AS
AT 1 JANUARY 2020	54,461	510	6,546
BALANCES CARRIED FORWARD AS
AT 31 DECEMBER 2020	52,118	-	6,282

PAROCHIAL CHURCH COUNCIL OF ST BOTOLPH WITHOUT BISHOPSGATE PAGE 11 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

ENDOWMENT FUNDS

2. INCOME

2(a) Donations 2(e) Investments CBF Deposit Fund interest CBF Investment Fund dividends TOTAL INCOME 3. EXPENDITURE 3(b) Activities directly relating to the work of the Church TOTAL EXPENDITURE NET INCOME/(EXPENDITURE) Profit on disposal GAINS AND (LOSSES) ON INVESTMENTS NET MOVEMENT IN FUNDS BEFORE TRANSFERS TRANSFERS BALANCES BROUGHT FORWARD AS AT 1 JANUARY 2020 BALANCES CARRIED FORWARD AS AT 31 DECEMBER 2020	Repair Clergy House Fund Fund £ £ - 23 3,234 32 __ _ 3,234 55 - - - - 3,234 55 7,429 74 ___ 10,663 129 (3,234) (55) 108,021 6,580 115,450 6,654	Car Fund £ 42 - __ 42 _ - - 42 - ___ 42 (42) 10,000 10,000	Cotts House Fund £ - 7,336 __ 7,336 _ - - 7,336 14,293 ___ 21,629 (7,336) 235,419
			249,712

PAROCHIAL CHURCH COUNCIL OF ST BOTOLPH WITHOUT BISHOPSGATE PAGE 12 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

4. FIXED ASSETS

(a) Investments

	Unrestricted	Restricted Endowment	Restricted Endowment	Total
	£	£ £		£
Market value as at 31 December 2019	1,015,162	117,853 360,020		1,493,035
Additions at cost	-	47,242	-	47,242
Disposals at market value	(97,242)	(10,277)	-	(107,519)
Loss on disposal	(296)	(39)	-	(335)
Gain/(Loss) on revaluation	54,350	8,593 21,796		84,739
	______	__ ____		__
Market value as at 31 December 2020	971,974	163,372 381,816		1,517,162
	______	______ ______		__
Historical cost as at 31 December 2020	548,132	121,433 178,085		847,650
	______	______ ______		__
Investments are held in the Church of England CBF’s Investment Income and Property Funds,			and CBF Deposit
Funds.
(b) Tangible Fixed Assets
	Fixtures and	Rectory		Total
	Equipment
Cost
Opening balance at 1 January 2020	22,304	655,059		677,363
	______	______		______
Closing Balance at 31 December 2020	22,304	655,059		677,363
	______	______		______
Accumulated Depreciation
Opening Balance 1 January 2020	9,102	-		9,102
Provision for the Year	786	-		786
	______	______		______
Closing Balance 31 December 2020	9,888	-		9,888
	______	______		______
Net Book Values
Opening Balance 1 January 2020	13,202	655,059		668,261
	______	______		______
Closing balance 31 December 2020	12,416	655,059		667,475
	______	______		______

PAROCHIAL CHURCH COUNCIL OF ST BOTOLPH WITHOUT BISHOPSGATE PAGE 13 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

5. DEBTORS AND PREPAYMENTS

	2020	2019
	£	£
Monies owed by restricted funds to
unrestricted funds	2,392	4,914
Debtors	53,825	36,172
	______	______
	56,217	41,086
	______	______

Debtors as at 31 December 2020 includes the following; donations £1,541 music fees £4,480, gift aid £11,865, voluntary church rate £15,726, hall hire £3,568, court hire £2,440, Bishopsgate Church Foundation £4,955, HMRC £4,000, water overcharge refund £3,307 (2019, donations £8,598, gift aid £7,755, voluntary church rate £1,566, music fees £8,820).

6. LIABILITIES: AMOUNTS FALLING DUE WITHIN ONE YEAR

	2020	2019
	£	£
Monies owed by restricted funds to
unrestricted funds	2,392	4,914
Creditors	34,666	79,650
	______	______
	37,058	84,564
	______	______

Creditors as at 31 December 2020 includes the following; court hire fees in advance £13,610, hall hire in advance £975, accountancy fees £6,000, agency £6,018, staff pension contributions £2,547, HMRC £2,310, mission £1,000 (2019, monies held on behalf of Bishopsgate Church Foundation pending investment after the year end £21,372, court hire fees in advance £20,032, hall hire in advance £9,690).

7. STAFF COSTS

	2020	2019
	£	£
Salaries and benefits	72,338	101,162
Employer’s national insurance	7,738	8,239
Pension costs	7,189	7,071
	______	______
	87,265	116,472
	______	______

The average number of employees during the year was 4 (2019 -4). None was paid more than £60,000.

PAROCHIAL CHURCH COUNCIL OF ST BOTOLPH WITHOUT BISHOPSGATE PAGE 14 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

8. FUND DETAILS

General Fund	For the provision of services and the upkeep, running costs and administration
	of the Church and Hall. For furthering the mission and ministry of the Church.
Fabric Fund	For meeting extraordinary expenditure on the Church building, organ and
	Churchyard.
Furnishings Fund	For the renewal of Church furniture, furnishings and ornaments. It includes
	the former Lady Chapel Fund, Stanley Moore Fund, Hilda Jenkins Legacy and
	the R J A Clarke Legacy.
Clergy House Fund	For the maintenance of the incumbents’ residence. The funds are held partly
	by endowment and partly independent funds. Income on the endowment is
	transferred to the restricted deposit funds.
Alan P Greenaway Bell Fund	For the maintenance of the church tower, bells and clock.
Cotts House Fund	Capital held on trust following an order of the Diocesan Chancellor regarding
	Licence Fees. By resolution of the PCC the annual interest is passed to the
	General Fund as contribution towards payment of wages and salaries.
Repair Fund	Originating from compensation for the extinguishment of tithes. Income is
	remitted to the parish and can be used for church and churchyard repairs and
	the salaries of church officers.
Tottenham Hale Fund	Funding provided to establish outreach at the new residential district of
	Tottenham Hale and support for the priest missioner.
Car Fund	Fund providing interest which is transferred to the General Fund for payment
	of the rector’s travel expenses.
Rectory Fund	Represents the majority portion of the funds liquidated from the Easement
	Monies Fund in December 2018 invested in purchase of the rectory.
Rectory Maintenance Fund	The balance of the funds from the liquidation of the Easement Monies Fund
	in December 2018 to be used for maintenance of the church rectory.

9. INDEPENDENT EXAMINER’S FEE

The fee to be charged by the independent examiner is £1,800 including VAT for the examination and £4,200 including VAT for accounting services.

PAROCHIAL CHURCH COUNCIL OF ST BOTOLPH WITHOUT BISHOPSGATE PAGE 15 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

10. PAYMENTS TO PCC MEMBERS

No PCC member or related party to the PCC has been paid or is payable remuneration or expenses from the funds of the PCC. The expenses paid to the clergy may include a small immaterial proportion which relates to their function as PCC members.

There are no key management personnel paid by the PCC.

There were no donations made to the PCC, by trustees, with conditions attached. The aggregate of trustee donations without conditions was £2,881.

11. CONNECTED CHARITY

The Parochial Church Council of St Botolph without Bishopsgate is connected to the Bishopsgate Church Foundation, informally known as St Botolph without Bishopsgate Rector and Warden Fund. This Charity was created exclusively to manage the income that the Church of St Botolph without Bishopsgate receives annually from the Bishopsgate Foundation in respect of properties once owned by the Parish Estates of St Botolph, Bishopsgate. It is managed by the Rector and Church Wardens of the Church of St Botolph, Bishopsgate. The Charity can be contacted at The Vestry, St Botolph without Bishopsgate, Bishopsgate, London, EC2M 3TL.

12. TRANSFERS

Cotts House Fund

Annual interest passed to the General Fund as contribution to wages and salary costs in accordance with the resolution of the PCC.

Clergy House Fund

Endowment: Dividends are transferred from endowment to restricted funds on an annual basis.

Repair Fund

Income transferred to the parish for church and churchyard repairs and salaries of church officers.

Car Fund

Endowment: Interest transferred to General Fund as contribution to the priest in charge travel costs.