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2021-12-31-accounts

www.ascensionbalham.org

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ASCENSION, BALHAM HILL

Diocese of Southwark

Charity Registration Number: 1136105

Report & Accounts 31 December 2021

Simply Churches Chartered Accountants

17 Heathville Road London N19 3AL

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ASCENSION, BALHAM HILL

Report and Financial Statements 2021 Contents

Page
Legal and administrative information 2
Report of the Parochial Church Council 3
Independent Examiner’s report to the Parochial Church Council 11
Statement of financial activities 12
Balance sheet 13
Notes to the financial statements 14

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ASCENSION, BALHAM HILL

Legal and Administrative Information For the year ended 31 December 2021

Charity Name

The Parochial Church Council of the Ecclesiastical Parish of the Ascension, Balham Hill.

Charity No 1136105. The Parish was established in 1858 and is a charity which was formally registered with the Charity Commission on 2 February 2010. Principal Address Malwood Road, Balham, London SW12 8EN. Governing Document Parochial Church Council Powers Measure (1956) as amended and Church Representation Rules.

Objective Promoting in the ecclesiastical parish the whole mission of the Church.

Members of the PCC The Members of the PCC who served during the year or who were serving at the date of this report were:

Clergy Marcus Gibbs (Vicar)
Tom Collins (Curate)
Dorothy Penniecooke (SSM)
Luke Steven (Curate)
Churchwardens Stephen Manning (until 10 May 2021)
Tim Alexander-Dann (from 10 May 2021)
David Archer
Elected Lay Representatives David Stewart
Jamie Ferguson
Karen Wilkins
Sue Lamming
Beth Veira (from 10 May 2021)
Ali Campbell (from 10 May 2021)
Mark Gulliford (until 10 May 2021)
Lay Representatives to the Joanna Cox (re-elected from 10 May 2021)
Deanery Synod Mark Gulliford (from 10 May 2021)
Tim Aikens (from 10 May 2021)

Key Management Those in charge of directing, controlling, running and operating the Church on a day to day Personnel basis are the members of the PCC and the Operations Director. Bankers NatWest Balham Branch 128 Balham High Road London SW12 9AE

Independent Examiner John Helm ACA Simply Churches 17 Heathville Road London N19 3AL Quinquennial Ryan Bunce BSc(Hons) DipProjMan PGDipCHE MRICS FRSA Inspector Ryan Bunce & Co 181 Union Street London SE1 0LN

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ASCENSION, BALHAM HILL

Report of the Parochial Church Council For the year ended 31 December 2021

The Parochial Church Council of the Ecclesiastical Parish of the Ascension, Balham Hill (“PCC”) submits its report and the financial statements of the PCC for the year ended 31 December 2021. The financial statements have been prepared in the format prescribed by the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP2015 (FRS102)) and the Financial Reporting Standard 102. The legal and administrative information set out earlier in this document forms part of this report.

The PCC co-operates with the incumbent in promoting the whole mission of the Church within its Parish and beyond. It also has responsibility for paid staff and the maintenance of the church building, the Vicarage (primary responsibility rests with the Diocese Board of Finance) and the property at Rokeby House.

1. Structure, Governance & Management

1.1 Trustees

The PCC is a body corporate with perpetual succession. The PCC meets monthly during the year and operates through a number of working groups which meet in addition to the full meetings of the PCC. The PCC discusses a full range of matters relating to finance, fabric, general administration and responsibility for keeping of the Electoral Roll. Members of the PCC are either ex officio or elected by the Annual Parochial Church Meeting (APCM) in accordance with the Church Representation Rules.

The induction process for any individual newly-appointed to the PCC comprises an initial meeting with the Vicar and receipt of copies of:

1.2 Executive

The Executive has the power to transact any business of the PCC between its meetings, subject to any directives given by the PCC, and in 2021 comprised the wardens, the treasurer and Rev Marcus Gibbs.

1.3 Church Attendance

The electoral roll is completely reviewed and revised once every six years but is updated every year in between. It currently stands at 107.

1.4 Risk Management

The PCC’s primary concern and objective is the discipling of individuals for the glory of God. Whilst it is the PCC’s policy to trust wholly in the Lord that He will work out His purpose to this end, the PCC also acknowledges that it has a responsibility, both as individual Members and as a body of Members, for the identification and proper management of risks faced by the PCC in achieving its primary aim. The PCC has therefore assessed the major risks to which the PCC is exposed, in particular those relating to the specific operational areas of the charity, its investments and its finances. The PCC believes that, by monitoring reserve levels, by ensuring that controls exist over key financial systems, and by examining the operational risks faced by the PCC, it has established effective systems and procedures to mitigate those risks.

Ascension has a number of measures in place to mitigate risk, including a health and safety policy overseen by the Operations Director, a safeguarding policy overseen by the PCC as well as a robust pastoral structure to deal with personnel issues. Financial risk is managed by the bookkeeper and Operations Director who report to both the Treasurer and to the Executive.

A brief summary of the risk register is as follows.

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ASCENSION, BALHAM HILL

Report of the Parochial Church Council For the year ended 31 December 2021

Operational
Area		 Risk Management
Security &
Safeguarding		 There is a major security,
safeguarding, or health &
safety incident		 Safeguarding – there is a safeguarding policy in place and two designated
safeguarding officers. All volunteers who have direct contact with children
or vulnerable adults as well as pastoral team members are required to
have a DBS, which is renewable every three years; we ensure that
insurance policies are up-to-date and cover us for identified risks; we
maintain up-to-date incident logs.
Finances Income and expenditure:
there is a risk that
expenditure could
exceed income		 The PCC prepares an annual budget based on prudent assumptions to
ensure annual expenditure can be met by income and reserves. Monthly
management accounts are prepared comparing income and expenditure
with budget; PCC officials ensure proper authorisation of expenditure in
line with the target operational cash reserves of two months’ budgeted
expenditure.
Potential liabilities: there
is an uninsured liability
which crystallises		 To mitigate this potential risk, we ensure that insurance policies are up-to-
date and include employer’s liability, public liability, buildings insurance,
contents insurance and property owner’s liability.

1.5 Safeguarding

Safeguarding is an essential part of Church life and is one we take very seriously. We are grateful to Sue Manning who has been lead Safeguarding Officer working alongside Tim Aikens.

As the year progressed and our community activities expanded we have had to make sure that our safer recruitment and record keeping processes are robust. We now have good safeguarding systems in place with volunteers all reference checked and with completed DBS’ in place.

There have been no significant situations to manage over the last year and our work has gone on quietly in the background. As ever, if you do have any concerns about safeguarding please do not hesitate to contact the Parish Safeguarding Officers at safeguarding@ascensionbalham.org in the first instance.

2. Activities, Strategies & Public Benefit

The PCC has given due regard to the Charity Commissions’ guidance on public benefit. To this end the PCC organises the following activities in order to enable ordinary people to live out their faith as part of our parish community:

3. Review of the Year

Vicar’s Report

Our mission at Ascension is to grow up, join in, and spread out with the love of God in Balham and beyond; 2021 has been a great year of doing just that.

In the midst of a global pandemic, Sunday church attendance has roughly doubled (see graph below)! People who have never been to church before have come in droves, there has been light, life, baptisms and transformations. I want to thank God for this and the wonderful Ascension family and friends for all they have done in allowing God to work in and through them.

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ASCENSION, BALHAM HILL

Report of the Parochial Church Council For the year ended 31 December 2021

I believe the growth and new life has been made up of some of the following ingredients:

1. The Sovereignty of God & Prayer

God is in the business of bringing good out of bad (Genesis 50:20). In God's abundant grace, despite the pandemic, He has allowed more people than ever to meet Him through us at Ascension and Parish Coffee. Our prayer meetings in lockdown have been the biggest ever and God hears our prayers.

2. Agility

From livestreaming in week 1 of lockdown, through to becoming a census support centre, through to launching a debt centre, through to creating a refugee drop-in space - we have endeavoured to stay open to what God is doing in our midst right now and faithfully respond to that.

3. Dream Team

We have had an incredible staff team, PCC and volunteers who have been highly gifted, godly, hardworking and humble.

4. The Kit

We have invested in equipment and technology that allow us to serve the needs of our community, from Parish Coffee ovens to cook for the homeless, through to state of the art camera equipment to livestream funerals to grieving families not allowed to physically attend due to COVID-19 regulations.

5. Speedy Onboarding

We have created plenty of simple volunteer opportunities for new church members, allowing a speedy move from being a passive to active member of the church family, meaning people quickly feel part of the church family.

We thank God for all of this and are excited for what is yet to come in 2022!

Revd Marcus Gibbs Vicar

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ASCENSION, BALHAM HILL

Report of the Parochial Church Council For the year ended 31 December 2021

Churchwardens’ and PCC Report

The Churchwardens are honoured to present this short report on our Church for 2021.

We wish to acknowledge our thanks to our wonderful God: Father, Son and Holy Spirit, for his continued grace and blessing to our church during 2021. We have many things to thank our gracious God for, including the following:

Our wonderful clergy and leadership team, who rose to the challenge of COVID-19 in 2020 and continued to meet those challenges throughout 2021. The church has operated an in-person service every Sunday, whilst at the same time streaming them online.

We have been particularly fortunate to be able to cater for the young family demographic in our parish and have witnessed a sharp increase in the numbers of families with young children attending Sunday services (in particular our Sunday morning Bubble Church service).

The church has been able to participate in the ‘Love your Neighbour’ initiative led by Holy Trinity Brompton and has worked hard and successfully at offering debt counselling, employment counselling and other services to our local community. Those services have been very skilfully and prayerfully led, and have attracted teams of committed and excellent volunteers, not just from our church but also from within our parish. We now offer help to refugees in our area and a clothes bank for those unable to pay for clothing.

On any weekday now therefore, the church is bustling with visitors to our café and users of our space. Our congregation has grown as a whole during the course of the year.

Our Sunday services have continued to thrive, with excellent worship, teaching and with, we hope, a very warm welcome to all visitors.

Also, by the grace of our Lord, the church finances continue to be able to provide for all our needs and for the needs of our ministry, including our annual contribution to the Diocese. We have sufficient reserve funds to cover important further roof repairs. And whilst referring to the roof, we note that we were able to install solar power panels on top of the church hall in 2021, which help safeguard the integrity of God's creation as well as allowing future savings on our electricity costs.

We have at all times aimed to ensure that we are a church family committed to prayer and to spreading, with thankfulness, the love and gospel of our Lord Jesus Christ.

David Archer and Tim Alexander-Dann Churchwardens

Deanery Synod Report

In the Church of England, deaneries are geographical groups of parishes which “have the opportunity and encouragement to work in partnership with each other to celebrate and to share the Good News of Jesus Christ.” In Southwark Diocese there are 25 deaneries, and we are part of the Tooting Deanery, which consists of 11 parishes from Clapham South to Summerstown, and Wandsworth Common to West Streatham. Wandsworth Prison and St George’s and Springfield Hospitals are also in our deanery.

Our vicar Marcus Gibbs is our Area Dean, and he and the Lay Chair jointly lead the Deanery Synod, which is made up of all clergy serving in the deanery and lay members elected by each church. At our APCM, Ascension elected Tim Aikens, Joanna Cox and Mark Gulliford as our lay synod representatives. Although these elections had been due in 2020, churches had been permitted to postpone APCMs because of the pandemic. As a result the full synod for the 2020-2023 triennium was not in place until spring 2021! Bishop Richard commissioned the Synod (via Zoom) at its meeting in June.

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ASCENSION, BALHAM HILL

Report of the Parochial Church Council For the year ended 31 December 2021

The Deanery Synod usually meets about 3 or 4 times a year, giving an opportunity for members to discuss and gain perspectives on key issues that affect our churches and to share ideas and expertise. In 2021 we were only able to meet in person, rather than Zoom, from September onwards. We met not only with other churches in the deanery but also the chaplaincies, and we were pleased to hear from the new chaplain at Wandsworth Prison at our November meeting.

A new development for the deanery during 2021 was the opportunity for churches to work together to run the Church of England discussion course ‘Living in Love and Faith’. This explored what it means to live in love and faith together as a Church, especially in the light of questions about identity, relationships, sexuality and marriage and how these fit within the bigger picture of the good news of Jesus Christ. Over 50 people from our different churches participated in the course, which was held at St Mary Magdalene Wandsworth Common, with another small group meeting on Zoom at the same time. Ascension played a significant role, with Tim Aikens, Joanna Cox and Marcus Gibbs acting as small group facilitators, and the Zoom group being led by Tom Collins. At the end of the course participants expressed appreciation for the opportunity to meet together with people from other churches and talk about such a significant topic - in fact the chief complaint was that the time allowed for discussion wasn’t long enough!

Joanna Cox

Deanery Synod Representative and Secretary

Property and IT Report

Compared to 2020, 2021 was a quieter year for property maintenance. Here is a list of jobs we undertook during the year on the fabric of the building, in chronological order:

January

February

March - July

August - December

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ASCENSION, BALHAM HILL

Report of the Parochial Church Council For the year ended 31 December 2021

People to thank

Dan Francis Operations Director

4. Going Concern

As with 2020, the significant event to have occurred prior to the signing of these accounts has been the lockdown restrictions made necessary by the Covid-19 pandemic, which broke out in early March 2020 and saw renewed lockdowns for the first part of 2021.

Each year it’s the PCC’s responsibility to state whether or not the annual accounts have been drawn up on a going concern basis (see the accounting policy note on page 22). Going concern is the assumption that an entity, in this case the PCC, has the resources (financial or otherwise) needed to continue operating for the foreseeable future and, in particular, for at least 12 months from the date of approval by the PCC of these annual accounts. If the going concern principle did not apply then the accounts would be drawn up on an insolvent basis.

With the rollout of vaccinations across the UK and the transition, at least in policy terms, from pandemic to endemic at the beginning of 2022, the risks to the ministry of the church have reduced since the previous annual report. With the café returning to pre-covid levels in terms of monthly sales, rental income from Marmalade Owl nursery continuing as normal and regular giving from the congregation remaining at consistent levels over the last couple of years, the impact of the pandemic on the church’s finances have been limited.

It is therefore appropriate to prepare the 2021 Accounts on a going-concern basis and it is not necessary to make any adjustment to these accounts as a result of the lockdown restrictions. The PCC will continue to keep both the short-term and longer-term impact of covid-19 and future variants under review.

5. Financial Review

The PCC’s main sources of funding are the free will offerings of church members and others in attendance at church meetings, and income from the hiring out of the church buildings. Despite some ongoing impact of the COVID-19 pandemic on our income, both directly (temporary closures of the café) and indirectly (lost income for congregation members), 2021 has been another fantastic year financially at Ascension. For this, big thanks must go to the congregation who have given faithfully, but mainly to our God who has blessed and provided for us financially well beyond our expectations.

5.1 Financial Activity and Financial Position

The Statement of Financial Activities and Balance Sheet can be found on pages 12 and 13 respectively. The Church’s reserves increased by £328,670 during the year (2020 – decreased by £28,486). The balance sheet shows total net assets of £976,180 (2020: £647,510). This was primarily a result of an extraordinary high level of one-off gifts from the congregation through the year including a single donation of £200,000 which the PCC have designated for the imminent exterior building works

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ASCENSION, BALHAM HILL

Report of the Parochial Church Council For the year ended 31 December 2021

that are required. Importantly and encouragingly, our regular monthly giving from the congregation was around 11% higher than we had expected, reflecting a consistent and faithful level of giving.

Included in total funds are amounts totalling £5,696 (2020: £11,003) which are restricted. These balances have either been raised for, and their use restricted to, specific purposes, or they comprise donations subject to donor-imposed conditions. Full details of these restricted funds can be found in note 10 to the accounts together with an analysis of movements in the year.

The expenditure for 2021 was in line with our budget, except for £91,000 for one-off building projects, primarily the final payment for the works carried out to the church exterior during 2020 as well as the installation of new energy efficient windows and solar panels in the church hall. This expenditure on maintenance and improvements to the building demonstrated our ongoing commitment to future-proof the church facilities for decades to come, as well as our desire to play our part in being good stewards of God’s creation through the shift to renewable energy.

In 2022 we have budgeted for a deficit of around £33,000, excluding the building works, so that we can continue our work in the community, headed by the Community Hub Manager and Debt Centre Manager, which had previously been funded by grants from the Love Your Neighbour scheme.

As always, we continued Ascension’s commitment to give support to mission and charitable causes, designating 10% of our income (less legacies, restricted giving and café sales) for this purpose in 2021. The vast majority of this was split between our current mission partners, Home-Start, Options Pregnancy Resource Centres, LICC, Medair and OM Moldova. We also continued our support of the broader diocese with a contribution of £82,000 to the Southwark Diocese Parish Support Fund.

Ransford Grey continued to provide outsourced bookkeeping services to the church during 2021 and I am personally grateful for his continued hard work and diligence in doing so.

5.2 Reserves Policy

The PCC has examined the requirements for free reserves, i.e. those unrestricted funds not invested in tangible fixed assets. The PCC considers that, given the nature of the church’s work, free reserves should be equivalent to approximately 2 months of operational expenditure (i.e. staff salaries and building running costs, but excluding Parish Support Fund payments, mission giving and expenditure on special discretionary projects), plus committed future expenditure on other projects, where funds permit. The PCC is of the opinion that this provides sufficient flexibility to cover temporary shortfalls in income and will allow the church to cope and respond to unforeseen emergencies whilst specific action plans are implemented. At 31 December 2021 the church had net free reserves of £612,537 (2020: £272,040) as follows:

Total reserves
Less: restricted funds
Less: fixed assets
Free reserves
Free reserves requirement:
2 month’s budgeted routine expenditure		 2021 2020
£
647,510
(11,003)
(364,467)
£
976,180
(5,696)
(357,947)
612,537 272,040
70,000
80,000

5.3 Investment Policy

Funds in excess of immediate working capital requirement are placed in a bank deposit account.

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ASCENSION, BALHAM HILL

Report of the Parochial Church Council For the year ended 31 December 2021

5.4 Grants Policy

The Church makes grants, equivalent to approximately 10% of its unrestricted income annually, to support charitable and missionary endeavours both in the UK and abroad. The policy of the PCC is to give grants on the basis that they are subject to annual review and only renewed based on meeting set criteria. The organisations regularly supported include Operation Mobilisation Moldova, Homestart Wandsworth, Medair UK, Options Pregnancy Resource Centre and the London Institute for Contemporary Christianity (LICC). For details of grants made, see note 4b.

6. Plans for Future Periods

The main project in the coming period is exterior stone and brick repair works to the North, East and South elevations of the church buildings costing around £250,000.

7. Responsibilities of Trustees for the Financial Statements

The PCC is responsible for preparing the report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. Charity law in England and Wales requires the PCC to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the PCC and of the income and application of income of the charity for that period.

In preparing those financial statements, the PCC is required to:

The PCC is responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enables them to ensure that the financial statements comply with the Charities Act 2011, the Charity Accounts and Reports Regulations 2008 and the provisions of the governing document. The PCC is also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The PCC is responsible for the maintenance and integrity of the charity and financial information included in the charity’s website.

8. Approval

The report of the PCC was approved by the PCC on 4[th] May 2022 and signed on its behalf by:

David Stewart Treasurer

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ASCENSION, BALHAM HILL

Report of the Independent Examiner to the Parochial Church Council of The Ascension, Balham Hill

I report on the accounts of the Parochial Church Council of the Ascension, Balham Hill for the year ended 31 December 2021, which are set out on pages 12 to 22.

Respective responsibilities of PCC and examiner

The PCC are responsible for the preparation of the accounts. The PCC consider that an audit is not required for this year (under section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is needed. The charity’s gross income exceeds £250,000 and I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales.

It is my responsibility to:

Basis of independent examiners’ report

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

Independent examiners’ statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the church as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

John Helm Chartered Accountant

4[th] May 2022

11

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ASCENSION, BALHAM HILL

Statement of Financial Activities For the year ended 31 December 2021

Note
Income from:
2
Donations and legacies
Charitable activities
Other trading activities
Investments
Other
Total Income
Expenditure on:
Raising funds
3
Charitable activities
4
Total Expenditure
Net gains on investments
Net (Expenditure)/Income
5

Transfers between funds
Other recognised gains/(losses)

Net movement in funds
Total funds brought forward

Total funds carried forward
 Unrestricted
Funds
2021
£

676,516
2,749
116,077
(867)
-		 Restricted
Funds
2021
£
34,229
-
-
-
-
34,229
-
38,378
38,378
409
(3,740)
(1,567)
-
(5,307)
11,003
5,696		 Unrestricted
Funds
2020
£
388,459
6,436
92,408
1,289
483











Restricted
Funds
2020
£
26,040
-
-
-
-
26,040
-
20,429
20,429
177
5,788
-
5,788
5,215
11,003		 Total
2020
£
414,498
6,436
92,408
1,289
483
515,114
54,493
489,284
543,777
177
(28,486)
-
-
(28,486)
675,996
647,510
Total
2021
£
710,745
2,749
116,077
(867)
-
794,475 489,075
828,704
46,796
415,269
462,065
-
332,410
1,567
-
333,977
636,507
970,484		 54,493
468,855
46,796
453,647
523,348
500,443
-
409
(34,273)
328,670
-
-
-
(34,273)
670,780
328,670
647,510
636,507
976,180

12

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ASCENSION, BALHAM HILL

Statement of Cash Flows For the year ended 31 December 2021

Note
Fixed Assets
Tangible Assets
6
Investments
7
Current Assets
Debtors
8
Cash At Bank And In Hand
Creditors - Amounts Falling Due
Within One Year
9
Net Current Assets
Net Assets
Represented by:
Restricted Funds
10
Unrestricted Funds
11
Total Funds		 Unrestricted
Funds
2021
£
357,947
-
357,947
139,983
486,352
626,335
13,798
612,537
970,484
-
970,484
970,484		 Restricted
Funds
2021
£
-
3,251
3,251
-
2,445
2,445
-
2,445
5,696
5,696
-
5,696		 Total
2020
£
364,467
2,842












Total
2021
£
357,947
3,251
367,309
78,930
254,361
361,198
139,983
488,797
333,291
53,090
628,780
13,798
280,201
614,982
647,510
976,180
11,003
636,507
5,696
970,484
647,510
976,180

The financial statements were approved by the PCC on 4[th] May 2022 and signed on its behalf by:

David Stewart Treasurer

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ASCENSION, BALHAM HILL

Notes to the Financial Statements For the year ended 31 December 2021

1. Accounting Policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

Basis of accounting

The financial statements have been prepared under the Charities Act 2011 and in accordance with the Charities Statement of Recommended Practice (Charities SORP (FRS 102)) and Financial Reporting Standard 102 (FRS 102)). The financial statements are drawn up on the historical cost basis of accounting except for the revaluation of freehold land and buildings which are shown at market value.

The financial statements include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe an affiliation to another body or those that are informal gatherings of church members.

The PCC meets the definition of a public benefit entity under FRS 102.

Going Concern

There are no material uncertainties about the charity’s ability to continue as a going concern and accordingly the accounts have been drawn up on a going concern basis.

Income recognition

Voluntary income and donations (including legacies) are accounted for once the PCC has entitlement to the income, it is probable the income will be received and the amount of income receivable can be reliably measured. Income from the recovery of tax on gift aided donations is accounted for in the period to which the relevant donation is received.

The income from trading activities includes rental income from the letting of church premises which is accounted for when earned. It is shown gross, with the associated costs of generating the income included in fundraising costs.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Expenditure recognition

Expenditure is accrued as soon as a liability is considered probable, and the amount of obligation can be measured reliably. Longer term liabilities are discounted to present value. The PCC is not registered for VAT and accordingly expenditure includes VAT where appropriate.

Charitable expenditure includes those costs in fulfilling the PCC’s principal objects, as outlined in the Report of the PCC. These include grants payable, governance costs and an apportionment of support costs.

The PCC contributes to certain employees' personal pension plans. These are defined contribution schemes, the assets of which are held separately from those of the charity. The cost in the accounts is the amount of contributions paid and payable during the year.

Taxation

As a charity, the PCC is exempt from tax on income and gains falling within the provisions of the Corporation Taxes Act 2010 or the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen on the PCC.

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ASCENSION, BALHAM HILL

Notes to the Financial Statements For the year ended 31 December 2021

1. Accounting Policies (continued)

Tangible Fixed Assets

Consecrated Property and Moveable Church Furnishings

Consecrated land and benefice property such as the church building and vicarage is excluded from the accounts in accordance with s10 of the Charities Act 2011. Moveable church contents are held by the vicar and churchwardens on special trust for the PCC and require a faculty for disposal are accounted as inalienable property unless consecrated. All expenditure incurred on consecrated or benefice buildings and moveable church furnishings, whether maintenance or improvement, is expensed within the Statement of Financial Activities.

Leasehold Land & Building

The leasehold land and building, represented by the residential accommodation at 29 Rokeby House, Lochinvar Street, London is stated at market value. The building will be revalued on a 5 yearly basis and the next valuation is due on 31 December 2021. Depreciation is not provided as the estimated residual value is the same or higher than the carrying value of the property in the accounts.

Other Fixtures, Fittings & Office Equipment

The cost of other furniture, fittings and equipment, less any expected residual value, is depreciated on a straight-line basis over the effective useful life of the asset, which has been estimated as 4 years

Debtors

Debtors are included at the settlement amount due. Prepayments are valued at the amount prepaid.

Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of opening of the deposit.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation arising from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are recognised at their settlement amount.

Fund accounting

The funds held by the charity are either:

15

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ASCENSION, BALHAM HILL

Notes to the Financial Statements For the year ended 31 December 2021

2. Income

Unrestricted
Funds
2021
£
Restricted
Funds
2021
£
Donations & legacies
Offerings and donations
549,560
-
Income tax reclaimed
119,031
-
Legacies
6,053
-
Grants
1,872
34,229
676,516
34,229
Charitable activities
Toddlers and Dads & Kids
861
-
Fee income (net)
1,888
-
2,749
0
Other trading activities
Lettings income
66,688
-
Café income
38,603
-
Other
10,786
-
116,077
0
Investments
Bank Interest
(867)
-
Other
-
-
794,475
34,229		 Total
2020
£
294,173
67,343
-
52,982
414,498
8,658
(2,222)
6,436
52,138
40,270
-
92,408
1,289
483
515,114
Total
2021
£
549,560
119,031
6,053
36,101
710,745
861
1,888
2,749
66,688
38,603
10,786
116,077
(867)
-
828,704

3. Expenditure on Raising Funds

Unrestricted
Funds
2021
£
Restricted
Funds
2021
£
Café – staff costs
11,478
-
Café – equipment, furniture
-
-
Café - depreciation
6,720
-
Café - supplies
26,198
-
Legal & professional - lettings
2,400
-
46,796
0		 Total
2020
£
21,867
2,238
8,960
21,428
-
Total
2021
£
11,478
-
6,720
26,198
2,400
54,493
46,796

16

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ASCENSION, BALHAM HILL

Notes to the Financial Statements For the year ended 31 December 2021

4. Expenditure on Charitable Activities

4. Expenditure on Charitable Activities

Unrestricted
Funds
2021
£
Restricted
Funds
2021
£
Common Fund
80,787
-
Church Life & Outreach
77,377
26,529
Missionary & Charitable Giving (note 4b below)
43,464
1,260
Provision of Office & Support
60,941
589
Provision of Buildings and Facilities
151,300
10,000
Governance costs
1,400
-
415,269
38,378		 Total
2020
£
82,000
119,866
25,280
71,315
189,683
1,140
Total
2021
£
80,787
103,906
44,724
61,530
161,300
1,400
489,284
453,647

4a. Expenditure – staff costs

In addition to the many volunteers who give their time to the church, there were paid employees whose costs are included within each of the main cost categories of “Expenditure on Charitable Activities” (note 4 above). Their aggregate emoluments were as follows:

Gross salaries
Social security costs
Employer’s Annual Allowance
Pension contributions
Of which the following gross salaries were in relation to Key Management Personnel:		 2021 2020
£ £
97,559 132,301
11,990 11,723
(4,000) (4,000)

4,661
6,279
110,210 146,303
32,000 31,576

These figures exclude the amounts paid to the Diocese for the incumbent and the curates, who are funded through the Common Fund. No employee (2020: nil) received emoluments in excess of £60,000 during the year. The number of staff for whom pension contributions were made during the year was 4 (2020: 6).

The number of employees during the year was as follows:

Full time workers
Part time workers		 2021 2021 2020
Number Number
3 7
2 -
5 7

17

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ASCENSION, BALHAM HILL

Notes to the Financial Statements For the year ended 31 December 2021

4b. Expenditure – Missionary & Charitable Giving

Giving to organisations:
Home Start (UK)
London Institute for Contemporary Christianity
Medair UK
Operation Mobilisation
Altitude Ski Mission
Royal British Legion (Poppy Appeal)
Syrian Refugee
Medair Syria Response
Options Wimbledon
Wycliffe Bible Translators
Giving to individuals
5. Net Income
This is stated after charging:
Depreciation of owned assets
Independent examination fee
6. Tangible Fixed Assets
Cost
At 1 January 2021
Additions
At 31 December 2021
Depreciation
At 1 January 2021
Charge For Year
At 31 December 2021
Net Book Value
At 31 December 2021
At 31 December 2020		 Unrestricted
Funds
2021
£
8,539
8,539
8,539
8,539
-
250
-
-
8,538
500
20
43,464
 Restricted
Funds
2021
£
-
-
-
-
-
-
1,020
-
-
-
240
1,260
Leasehold
land &
building
£
295,359
-
295,359
-
-
-
295,359
295,359		 Total
2020
£
4,800
4,800
4,800
4,800
500
100
-
680
4,800
-
-
25,280
Total
2021
£
8,539
8,539
8,539
8,539
-
250
1,020
-
8,538
500
260
44,724
2021 2020
£ £
20,863 33,167
1,400 1,140
Fixtures,
fittings &
equipment
£
226,648
14,343
240,991
157,540
20,863
178,403
62,588
69,108
Total
£
522,007
14,343
536,350
157,540
20,863
178,403
357,947
364,467

18

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ASCENSION, BALHAM HILL

Notes to the Financial Statements For the year ended 31 December 2021

6. Tangible Fixed Assets (continued)

All of the fixed assets are used for charitable purposes. The leasehold land and building comprises the flat at 29 Rokeby House, Lochinvar Street, London, SW12 8PX which was donated to the church. The value is the average of three valuations supplied by three local estate agents as at 31 December 2018. The flat is currently rented out to provide rental income to the church. The flat was refurbished in advance of it being occupied.

7. Fixed Asset Investments

Market value at beginning of year
Net gain/(loss) on revaluation		 2021 2020
£
2,665
177
2,842
£
2,842
409
3,251

The investment is in The CBF Church of England Investment Fund – Income Shares. It is the Moffrey Memorial Trust Fund (see note 11).

8. Debtors

8. Debtors
Income tax recoverable
Accrued interest
Rent deposit
Other debtors
Lettings receivable		 2021 2020
£
70,818
1,150
2,977
3,985
-
78,930
£
129,508
213
2,977
3,985
3,300
139,983

9. Creditors - Amounts Falling Due Within One Year


Accruals
Other creditors including taxation and social security
Other creditors
Common Fund arrears (in respect of 2011)
Rent deposit		 2021 2020
£
1,140
3,643
42,118
4,231
1,958
£
1,400
757
9,683
-
1,958
53,090
13,798

No formal agreement exists for the repayment of the Common Fund debt of 2011 and accordingly has been accounted for within “creditors - amounts falling due within one year” within these financial statements.

19

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ASCENSION, BALHAM HILL

Notes to the Financial Statements For the year ended 31 December 2021

10. Restricted Funds

10a Current Year
Moffrey Memorial Trust Fund
Elderly Fund
Other Churches Fund
Curate’s Accommodation
China Bibles
Royal British Legion (Poppy Appeal)
Kickstart
Information Technology
Love Your Neighbour
Kingdom Come Prayer Week
International Justice Mission
Mothers Union
Shoebox
Glass Door
Solar panel installation
Leaving gifts
Syrian refugee housing
10b Prior Year
Moffrey Memorial Trust Fund
Elderly Fund
Other Churches Fund
Curate’s Accommodation
China Bibles
Royal British Legion (Poppy Appeal)
Syria Crisis Appeal
Information Technology
Love Your Neighbour
Kingdom Come Prayer Week
International Justice Mission
Mothers Union
Shoebox
Glass Door
Leaving gifts		 At 1
January
2021
£
2,842
634
479
0
95
0
0
1,467
4,440
100
250
50
120
286
0
240
0
11,003		 Income
£
Expenditure
£
Transfers
£
-
-
-
-
-
-
-
-
-
11,000
(11,000)
-
-
-
-
-
-
2,942
(2,942)
-
-
-
(1,467)
8,587
(13,027)
-
-
-
(100)
-
-
-
-
-
-
-
-
-
-
(149)
-
10,000
(10,000)
-
-
(240)
-
1,700
(1,020)
-
34,229
(38,378)
(1,567)		 Income
£
Expenditure
£
Transfers
£
-
-
-
-
-
-
-
-
-
11,000
(11,000)
-
-
-
-
-
-
2,942
(2,942)
-
-
-
(1,467)
8,587
(13,027)
-
-
-
(100)
-
-
-
-
-
-
-
-
-
-
(149)
-
10,000
(10,000)
-
-
(240)
-
1,700
(1,020)
-
34,229
(38,378)
(1,567)		 Income
£
Expenditure
£
Transfers
£
-
-
-
-
-
-
-
-
-
11,000
(11,000)
-
-
-
-
-
-
2,942
(2,942)
-
-
-
(1,467)
8,587
(13,027)
-
-
-
(100)
-
-
-
-
-
-
-
-
-
-
(149)
-
10,000
(10,000)
-
-
(240)
-
1,700
(1,020)
-
34,229
(38,378)
(1,567)		 Income
£
Expenditure
£
Transfers
£
-
-
-
-
-
-
-
-
-
11,000
(11,000)
-
-
-
-
-
-
2,942
(2,942)
-
-
-
(1,467)
8,587
(13,027)
-
-
-
(100)
-
-
-
-
-
-
-
-
-
-
(149)
-
10,000
(10,000)
-
-
(240)
-
1,700
(1,020)
-
34,229
(38,378)
(1,567)		 Gains/
(losses)
£
409
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
409		 At 31 At 31
December
2021
£
3,251
634
479
0
95
0
0
0
0
0
250
50
120
137
0
0
680
5,696
At 1
January
2020
£
Income
£
Expenditure
£
Transfers
£
2,665
-
-
-
634
-
-
-
479
-
-
-
0
12,000
(12,000)
-
95
-
-
-
47
-
(47)
-
413
-
(413)
-
0
1,467
-
0
12,032
(7,592)
-
100
-
-
-
250
-
-
-
50
-
-
-
120
-
-
-
196
301
(211)
-
166
240
(166)
-
5,215
26,040
(20,429)
0		 Gains/
(losses)
£
177
-
-
-
-
-
-
-
-
-
-
-
-
-
-
177
At 1
January
2020
£
2,665
634
479
0
95
47
413
0
0
100
250
50
120
196
166
5,215		 At 31
December
2020
£
2,842
634
479
0
95
0
0
1,467
4,440
100
250
50
120
286
240
11,003

20

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ASCENSION, BALHAM HILL

Notes to the Financial Statements For the year ended 31 December 2021

10. Restricted Funds (continued)

Descriptions of the main restricted funds are as follows:

Moffrey Memorial Trust Fund. The history and purpose of this fund is currently unclear and is being researched.

Elderly Fund represents funds received for the purpose of support for the elderly.

Other Churches Fund represents funds received for the purpose of giving to other churches.

Moldova Fund represents funds received for the purpose of supporting OM Moldova and their ministry in some of the poorest areas.

11. Unrestricted Funds

11. Unrestricted Funds
11a Current Year
General Fund
Designated Fund:
Mission Giving
11b Prior Year
General Fund
Designated Fund:
Mission Giving		 At 1
January
2021
£
636,507
0
636,507		 Income
£
Expenditure
£
Transfers
£
794,475
(438,065)
(49,326)
-
(24,000)
50,893
794,475
(462,065)
1,567		 Gains/
(losses)
£
-
-
0		 At 31
December
2021
£
943,591
26,893
970,484
Income
£
Expenditure
£
Transfers
£
489,074
(499,348)
(24,000)
-
(24,000)
24,000
489,074
(523,348)
0		 Gains/
(losses)
£
-
-
0
At 1
January
2020
£
670,781
0
670,781		 At 31
December
2020
£
636,507
0
636,507

12. Operating Lease Commitments

The total future minimum lease payments under non-cancellable operating leases are payable:

Not later than one year
Later than one year and not later than five years		 2021 2020
£
11,543
-
11,543
£
8,800
-
8,800

21

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ASCENSION, BALHAM HILL

Notes to the Financial Statements

For the year ended 31 December 2021

13. Related Party Transactions and Balances

The house at 124 Alderbrook Road, rented by the church, is occupied rent free by the curate, Tom Collins, for the length of his curacy. The gross cost to the church for rent, council tax, water and service charge totalled £27,211 (2020: £26,946).

The expenses of 6 (2020: 5) members of the PCC amounting to £2,475 (2020: £1,722) in relation to training, travel, subsistence and other expenses, were met during the year.

During the year members of the PCC gave a total of £327,345 (2020: £106,755) in unrestricted offerings and donations during the year.

22