2021-12-31-accounts - The Parochial Church Council Of The Ecclestiastical Parish Of St Peter, Streatham

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TREASURER’S REPORT AND ANNUAL ACCOUNTS FOR 2021

The layout of the figures has been changed on page one in two respects: I have included the pre-pandemic 2019 Receipts and Payments to give a true picture of our financial position at the end of 2021, and I have moved the CCLA Deposit Fund from a Restricted to a General Fund.

Regarding Receipts , Regular Income has dropped markedly over the past two years with several Standing Orders stopping for various reasons, but most especially in Unplanned Giving (loose change weekly collections). However, the card reader raised nearly £1,000 which makes it a welcome addition to the giving options available.

Fees have bounced back from the 2020 low with a number of banns being read in the summer.

Fund raising income remains low as we have not had our large-scale Christmas raffle for the past two years.

Crypt Hire income has been picking up in the last few months of 2021, but still falls a long way short of the 2019 income.

Church Hire income has included more than £500 from the Church of Christ who decamped from St Margaret the Queen when their heating system failed.

I have been more assiduous in reclaiming VAT over the past two years.

Concerning Payments , the Parish Pledge to the Diocese has been paid in full and on time.

Repairs (and building maintenance) was substantially higher in 2021 mainly because of the cost of a long overdue electrical inspection (£2,800 + VAT) and the refitting of outside lighting on the north side of church (£2,000+). We are able to reclaim VAT for amounts over £100.

Utilities costs have dropped since 2019 with more favourable fixed price contracts for both gas and electricity.

The CCLA Deposit Fund in early years was designated as the Fabric Reserve Fund intended for the upkeep of the building, and so treated as a Restricted Fund. However, in the past two years we have had to draw very heavily on these reserves for general running costs, and so must now regard this as a General Fund.

The Sacristy Fund has had the amount paid from the General Fund for sacristy costs in 2020 and 2021 (totalling £3,426.65) transferred across, but an adjustment was made to increase the Sacristy Fund to the correct figure of £6,889.07 (prior to the above transfer).

Unfortunately, I miscalculated this, hence the movement to-and-from these accounts at the end of December.

As noted each year, the Charity Fund Receipts and Payments refer to banking within the year January-December. Monies which were collected and paid straight to charities, such as the Romanian Orphanage, are therefore not included in these figures.

The figures for the Organ and Choir Funds are noted in detail and so do not need further comment.

As noted above, our finances took a big hit over the past two years, but things are starting to pick up in Crypt and Church Hire. We do need to address the matter of reduced congregational giving with a Stewardship Sunday later in the year.

Our biggest financial cushion is our CCLA holdings, the Investment and Property Funds, and their dividend payments. We will be selling shares to fund major projects this year – most notably the new lighting in church but we will still have sufficient reserves to continue to be financially viable.

Simon Launchbury (Treasurer)

ST PETER'S CHI'RCH. STREATHAfyI The Nlembers St Paer'5 Churrh Leigham ("{n Ro•d London S'162SD ACCOLNTS FOR THE I'EAR Tr:YDING 31111J2021 On behalf of the PCC. I pThni the A¢ciKJnt5 fiw the )¢4r ¢ndin8 3 I t)ecanber 20?1. Simon Launchbup*' a%iJreT lo Ihe Par(Khi&l Church Council 3 Dodbrwkc London SE•7 OPF INDEPENDENT EXANIINER'S STATEMEYT I have revie44.ed the ¢nIS th¢ year ending 31 Decembtt 2021. The review has included a SdV of the ledger& bank tement% pavmcnts bv bank or cash with Ihe rele¥'ant I'ouchers. service Cdleckn'(S Ixh¢r payments to the banK t0her with the b'lXlLhers I haN'e verified ihe b4lanc¢s. The rth'iew. has included payments to and friffi the Regtricted Funds, The minules papers of the PCC and ihe Builth'ngs and Finance C(Knmittee. including the Treasurer's reports. wtre a%'ailable for Inspecti Lm reque I wntirni ihai the PCC a¢cwnis ire an •c¢uraie refleaion of the financial rxxition •s ai 31 December ?O?l Thefe are Tho mallefs which ha'e come 10138ht during my review which sIKwld be reported kn the Nlembers of chUh Council Eli(A John4 NUnheA SEI 5 APPROIW) BI. THE PAROCHtAL CHURCH COLfNCtL ON .. Fr Steffan Mitthits, Chairman

St. Peter's Church, Streatham Financial Statement at 31-12-2021 Receipts and Payments Account

General Fund Receipts Regular Income Planned Unplanned Card Reader Donations Income Tax Recovered Other Income Donations (excluding below) Fr Steffan's welcomegift Bequests Grants Fees Candles Events & Activities Crypt Hire Fund Raising Events Church Hire Sale of Magazine& Books Other Insurance Claims Bank Interest VAT refund Total General Fund Receipts Transfer from Sacristy Fund Transfer from CCLA Payments Diocesan Assessment/ Pledge Clergy expenses Repairs etc Repairs against insurance claim Church Insurance Utilities Music Sacristy Printing & Copying Crypt maintenance Parish Admin Magazine & Bookstall Fund Raising expenses Transfer to Sacristy Fund General Fund Payments CCLA Deposit Fund Receipts Interest Investment income Payments Trans to General Fund CCLA Deposit Fund Surplus/Deficit General Fund Surplus Surplus/Deficit	2019 £ 37,476.06 7,305.90 0.00 11,406.68 56,188.64 3,570.42 0.00 500.00 0.00 1,734.00 0.00 5,804.42 22,238.30 1,569.36 2,400.00 45.00 26,252.66 50.00 11.24 0.00 61.24 88,806.96 8,000.00 9,550.00 106,356.96 56,156.00 1,488.59 9,972.04 0.00 9,926.66 9,035.57 9,311.25 3,358.78 1,909.72 2,666.12 1,661.14 0.00 361.08 0.00 105,846.95 510.01	2020 2021 £ £ 33,856.91 32,773.83 1,722.75 2,371.30 778.29 949.40 6,593.66 8,582.33 42,951.61 44,676.86 4,995.30 4,405.21 845.00 0.00 0.00 700.00 500.00 614.00 294.00 1,871.00 0.00 80.00 6,634.30 7,670.21 9,266.25 11,157.00 294.50 575.00 275.00 2,044.00 215.00 48.30 10,050.75 13,824.30 130.00 0.00 12.02 0.90 665.96 798.04 807.98 798.94 60,444.64 66,970.31 0.00 3,676.65 30,000.00 32,800.00 90,444.64 103,446.96 56,715.00 56,998.00 484.45 454.24 3,447.68 9,487.02 0.00 0.00 10,113.74 8,597.04 6,720.15 7,999.61 4,149.66 7,203.10 1,767.89 1,658.76 2,374.06 1,707.13 5,036.30 2,492.24 2,118.80 619.12 0.00 0.00 400.00 0.00 0.00 1,251.25 93,327.73 95,965.01 103.07 7.14 15,257.17 15,522.14 15,360.24 15,529.28 30,000.00 32,800.00 -14,639.76 -17,270.72 -2,883.09 7,481.95

Restricted Funds
The Business Premium Account
Sacristy Fund
Receipts
Interest
Trans from Current Acc
Payments
Trans to Current Acc
Charities Fund
Receipts
Payments
Charities Surp /Deficit
Choir: Music Robes & Travel Fund
Receipts
Cathedral Trip subs
GA donations
Non-GA donations
Interest
Scholarship
Tax Reclaim
Concerts
Other Donations
Payments
Cathedral trip expenses
Stationery
Music & Robes
Concert expenses
Additional Singers
Scholarship
Other expenses
Choir Fund Surplus/Deficit
Organ Fund
Receipts
Gift Aid Donations
Interest
Grant
Other Donations
Tax Recovered
VAT refund
Concerts & Fund Raising
Payments
Recitals, Concerts & Fund Raising
Organ Works
Organ Fund Surplus/Deficit

2020
2021
£
£
4.60
0.60
0.00
1,251.25
4.60
1,251.85
0.00
3,676.65
0.00
3,676.65
1,041.00
1,161.50
1,915.00
1,354.50
-874.00
-193.00
1,318.00
0.00
75.00
0.00
0.00
50.00
11.27
9.27
430.00
445.00
127.50
56.25
56.62
62.83
0.00
0.00
2,018.39
623.35
692.00
0.00
0.00
0.00
106.95
408.02
0.00
0.00
0.00
0.00
0.00
857.00
0.00
0.00
798.95
1,265.02
1,219.44
-641.67
512.00
715.00
22.01
17.15
0.00
0.00
235.00
316.00
263.16
93.75
0.00
1,753.11
441.26
612.30
1,473.43
3,507.31
0.00
100.00
0.00
10,518.66
0.00
10,618.66
1,473.43
-7,111.35

St. Peter's Church, Streatham

Financial Statement at 31-12-2021

Receipts General Funds PCC 66,970.31 Less Tax recoverable Q4 2021 -2,420.52 Plus Tax Q4 2020 2,118.59 Less Gen Fund Cheques 2,427.84 Less Tax Reclaim for Organ & Choir Funds -150.00 Transfer from CCLA 32,800.00 CCLA Deposit Fund 15,529.28 General Funds Subtotal 101,746.22 Restricted Funds BPA 1,251.85 Cha 1,161.50 Choir 623.35 Organ 3,507.31 Restricted Funds Subtotal 6,544.01 Total Receipts 108,290.23 Summary Statutory total 2020 2021 Receipts 110,649.24 108,290.23 Payments 126,041.68 145,679.84 Surplus/Deficit -15,392.44 -37,389.61 Total Non Restricted -2,576.15 -27,018.79 Restricted Funds -12,816.29 -10,370.82 Total -15,392.44 -37,389.61 Statement of Assets and Liabilities 2020 Monetary Assets General Restricted Total PCC Current Account (Barclays) 500.00 500.00 PCC Deposit Account (Barclays) 8,881.16 8,881.16 CCLA Deposit Fund 22,047.71 22,047.71 BPA: Sacristy Fund 5,887.82 5,887.82 Choir Funds Account 11,337.76 11,337.76 Organ Fund Account 22,427.94 22,427.94 Charities Account 558.64 558.64 Total cash 9,381.16 62,259.87 71,641.03 General Funds Barclays Accounts 9,381.16 9,381.16 CCLA Deposit Fund 22,047.71 9,381.16 RestrictedFunds BPA: Sacristy Fund 5,879.86 5,879.86 Choir Fund 11,337.76 11,337.76 Organ 22,427.94 22,427.94 Charities 558.64 558.64 Total Funds 9,381.16 62,259.87 71,641.03	Payments
	General FundsBarclays 95,965.01 CCLA Fund 32,800.00 General Funds Subtotal 128,765.01
	Restricted FunBPA 3,676.65 Cha 1,354.50 Choir 1,265.02 Organ 10,618.66 Restricted Funds Subtotal 16,914.83
	Total Payments 145,679.84

	Cheques to be presented General Fund 103897 £43.50 103911 £12.14 103912 £1,123.20 103913 £100.00 103914 £504.00 103915 £504.00 103916 £66.32 General Fund Total 2,286.84 Charities Acc 100371 141.00 Total Cheques 2,427.84
	2021 General Restricted Total 500.00 500.00 6,217.11 6,217.11 4,776.99 4,776.99 3,463.02 3,463.02 10,696.09 10,696.09 15,316.59 15,316.59 365.64 365.64 11,494.10 29,841.34 41,335.44 6,717.11 6,717.11 4,776.99 4,776.99 3,463.02 3,463.02 10,696.09 10,696.09 15,316.59 15,316.59 365.64 365.64 11,494.10 29,841.34 41,335.44

Notes:

Other Assets.
	2021
Investments with CCLA	637051001P	107,331.06	bid market price	105,668.86
	637051001S	429,163.85	bid market price	428,588.41
		536,494.91		534,257.27
Inland Revenue tax reclaims
All reclaims lodged have been settled.
It is estimated that the reclaim due for Q4
will amount to	2,420.52
Liabilities
	2021
Sundry cheques awaiting presentation
	2,427.84
Machine Rental Agreement

In March 2020 the PCC entered into a three year photocopier rental contract with rank Xerox at an annual rate of £630.00 plus copying charged. Annual Parish Pledge Due

57,568.00