CHARITY REGISTRA TION NUMBER: 1138266 THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY WITH ALL SAINTS, PUTNEY UNAUDITED FINANCIAL STATEMENTS 31 DECEMBER 2020 C.N. IVILKtNS FCCA Chartcred Cettsficd Accountants 10-12 High Street Barnes London SWI) 9LW
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ftrlARY WITH ALL SAINTS, PUTNEY FINAIYCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2020 PAGE Trustees, annual report Independent ewincvs rcpon to the trustees Statcmcnt of financial artivitics Stat¢m¢nt of financia] posAtion Ststement of cash flows io Notes to the financia] &atemenis
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY WITH ALL SAINTS, PUTNEY TRUSTEES, ANIWAL REPORT YEAR ENDED 31 DECEMBER 2020 Th¢ tWStccs present thcir rcport and the unaudited fmancial statements of the chatit! for the y&gr endcd 31 December 2020. REFERENCE AND ADMif4isTRATIVE DETAILS Registered charili name Tr PaffKhial Church Coll11 of Ttr Ecclesiastical Pdri5h of Si MarF iThith All Saims, Put. Charit) registration number 1138266 PriDcipal St Mao's Clwrty PUtY High StreL London SW15 ISN THE TRUSTEES Clergy Revd Jolm Whittaker Rei,d Daniel Trott {apw)inted 2W September 2020) Revd Jonat1 H.neS lapwimed 29 September 20201 Parish wardens Palll Don11). (tired 21W SepteM1r 2020) C1¢[na.. GordoTrMartin Attheiv {apillI&1 2P Seplemr 2020) District wardens- St Mary's chu Angela Att2h Athii. Grocott (RrtiTcd 29th September 2020) ChTi5tizan ]k Lange(aptyed 29 September 2020) DiStt wardens- Ail Saints, Churth lain Cox Kate In$ Dioeesan STrnod RepSentati}eS matt" Watt4appointrd 2 SeWber 2020) Grdlllm Slwii(apkK>inted 29th Septetnber 2020) Deanery SyDod Represetttatii'es". St Mar)'s Church Richatd Holtnan Call11 Gibson (reiirnl 2P S¢piemtKr 2020) All Saints, Church TunT (appointed 29 Sepiemr202O) PCC Members: St Mar),$ Church sama Hoskins (PCC Secr¢(aN} {SIgl 29° S¢ptcmber 2020) Zoe Coaklc!, (resig] 29 Sepicinber 2020) Chr[pher Gan*ii (rsigl 2W septeMr 2020) Mark Leadlth. Al¢x {apTred 2yh SeMember 2020) Tangll'ejk Ne150n Rie]wrd QlleI (reSid 2tyh Septenfvr 2020> Pamela Smith Adrian Weed laptx)inted 2yh seellr 2020) All Saints, Chureb John AndW Henr}. Chan (aplted 2W September 2020) Mdriannc Coale5 Catlrrin¢ Colli'er (apw)inled 2P Scplemb¢r 2020) Jackic Dairyes (PCC Secrekn.) (aP)In1¢a 29 Septembei 2020) Geinma Dlln (ap>11 2W Septeinber 2020) Simon Kdlick Simon Upton Chantsi. Westwell {resigw129th pternber 2020)
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY WITH ALL SAINTS, PUTNEY TRUSTEES, ANNUAL REPORT YEAR ENDED 31 DECEMBER 2020 Independent examiner C.N. Wilkins FCCA 10-12 gh Street Barnes London SW13 9LW Bankers Barclas's Bank PIC I Churchill Place Canm" Wharf London E14 iHP STRUCTURE, GOVERNANCE AND MANAGEMENT The Parish is a part of the Church of England: ii'ithin the Diocese of Southwad(. It was registered as a distinct charitfv. (r¢g no 1138266) on i October 2010. The PaTish is governed b}, the Parockn"aI Church Council (PCC).. .hICh is clectcd annually b}T those mcmbcrs of the congregations of St Mary's Church and All Saints, Church who arc on the Parish el¢cioral roll. PCCS a established undcr thc folloii'ing Church of Eng13nd Me3SUtes". The PaChial Church Councils (Poii'ersl Nqeasure I9)6 as aniended Thc Church Rcprcscntation Rules {contsi"ned in Schedule 3 to thc Sl'nodical Govemment mcasu 1969 as amcnded). OBJECTIVES AND ACTIVITIKS The objectives of the Parish the pmOtion of Chri5tianitN' and the ivelfare of the Ioe21 eommunity. Thc objectives are achieved bv.. The provision of regular public i%"orship opeD to all Thc provision of sacted spac¢ for peE50nal praTr'er and contemplation Pastornl K"ork. including visitino the sick and the bereav Teaching Chtislianih. through sennons: courses and smatl gtOUPS The provision of activities for children and !-OUD8 p¢ople Promoting the mi&%ion of the church through the provision of activitics for senior citizens Siipporting other charities in the UK and 0vets Mijch of the of the Parish is undertaken bK' volunteers, of iihich arc fortunate to hav¢ a considerable number in ail areas, but particularli. in the cht"Idren's activiti¢s. Brief History There hag been 2 church on the St Man s site sinec at least the eletrenth centurv. Thc 1837 building M'as almost entirel!- destro}'ed bN." fire in 1973. It il'as rebuilt Èn a Icordeted design and .3$ reopttned i IY82. A communits ha]1 'aS opened ne¥t lo th¢ church in 2006. w.hich is ii"idcly US bN. local volulltan. organisations. The hail is managed bN. St MaTr's Parish Trnst, a lated chaTity. St Mary's ha8 a thrii'ing all-ag¢ congrcgation: including large numbets oFchildren. All Saints,, Putn¢s' Common: il'as consecrated in 1874 to serve the north westem area of thc Parish. In the 1980s the attendance divindle(L and thc church m.as almost closed, but it il'as laUnch¢d in 1993 and noiv a]$0 a substWEiial: mainlN' famili.: congregation.
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY WITH ALL SAINTS. PUTNEY TRUSTEES. ANNUAL REPORT (Co YEAR ENDED 31 DECEIIIBER 2020 ACHIEVEMEwfs AND PERFORMANCE No onc kncw at thc Start of 2020 that it going to turn into a lear unlike anv that anN' of us had preN'iouslv experienced. The Covid-19 pandemic closed churches for l¢ngth!' p¢riods and ii.hcn we vcrc alloived to opcn numbers '¢re S¢'¢re11. r¢siriaed: sin¥ing ii."as banned: as w&% the invaluabl¢ soei21ising 2fter services and at other titnes and socia] distancing ii.'as mandatorv. Instead, 'e, like nianN parishes, NN'ent online i¥ith servi¢¢s on Z(M or stTeamcd. Although this il'as onlv a limited substitute foi ii'ot5hipping togcthci in person our online seTr'ices have been iNell supported and thc! have helped considetxbl!. in tnainlaining contact ii'ith the congregations of both churches. Sincc Sundai. Schwl activitics had to b¢ dis¢ontinu¢d. the cler. team and the Children's Ministers at both churches created ihat h&% provcd to bc a vcrN' succ¢ssful 9.1 i a.m. online family service, )i'hi¢h has provided the benefit of ailoiiing parents and children to 'orShIp together. Ikspite the adN'erse impact of the pandemic in a num1 of 1i7lTS, details of some of Thhich are referred to belo.. the Parish has coniinued iiith man!. activities: and 'e are optimistic that tlie cutrcnt rclixation of lockdoivn rules iiill encou¢ mani. of oui tncnibcrs to return to services in Church. A fourtccn-month intee£nUM at All Saints, Churth rame to an end iirith the delaiwed Installation of the Revd Dr Daniel Trott as Vic2T on 9th September 2020. Dr Trott is alread!." making a coiisidcrable contribulion to the ii'ork of the clew" team in thc Parish. We were enomiousls, grateful to tlic Rcvd Elizabeth Mors¢: Thho plal'cd a major role at All Saints throughout the interregnum. The Revd Jono Ha}'nes il-as finally ordained priest on 17th October 2020. aftcr a length). dela). due to CoN'id. and presided at the Eucharist for the first timc on the feast of St Luke. Another hiEhlv cffcctive It0Vation has been the onlinc DailTr, Brcad series - short tcflcctions taking a bible passage set for the da., a poem, hl'mrn or image designcd to be a springboard into a timc of pra!"¢r. Thc first issuc ivas on 23rd March 2020 and bl, Easter Da)" 2021 li'e had [&hed issuc 173, including a numbcr from contribuiots outside thc Parish. Publication of the Parish Magazinc was put on hold For severnl months but restarted before the end of the N'ear. Our P&qtoral Assistant for 2019120 was the Revd Jayel Robinson-Brown, a Methodigt minister who as preparing for ordination into the minism. of the Church of England. Hc Icft Putne}' in the gummer, and he is noii. Joining the team at All Hailoii's b!. the To"er In the Diocc5c of London. Joshua Harris is th¢ Pastoral Assistant for 2020121: but his oppominities to dei'elop a distinctiv¢ rolc ID thc lifc of the Parish have been considerabls, restrictrd duc to the pandemic. Parish Action, M,hich rnises moncv for eyternal charities, has continued its ivork wkn.le inevitablv bcing COtLSttained in organising fundraising actiTrilies. SupporL th¢ fomi of funds for both food and education. for Vulindle12 Guardian5. a Zimbabiiean home for 0hned children. has been maintained. Ill thc earl}. dai.'s of CoTrid, the Chair of PA: Rosie Tal'l0r-DaIeS: set up a team of volunteers to make scnibs: masks and other Items of PPE for hospitais, surgenes, care homes and anTrii'.h¢r¢ else that Deeded them. In the past s'ear thc}' haTr'c proi ided tens of thousands of itcms_ It ivas not possiblc for Glass Dooi to tun a ii'inter shelter for the homeless in St MaTh s last ii."inter. due to Covid. Within thc Parish i¥"e haie supwrted manl. Nvlnernble: needN', and isolated people: including distributs'ng a large nUMr of Christmas food gifts in lieu of the lunch thai IN"e noTma]l)' orgallis¢ for th¢ ¢ld¢rl). Thc EvcTr' Little Helps stall, 'hICh has raiscd moncv for a ii'idc varAet)' of extetnal chIticS since 1997 bTr' sclling marmaiadc and other homemad¢ products: has closed as the small t&qm of volunteers that h&s Tun it for the last tiieni}".three !'eaT5 has rcluctantlN, decided that it is lime to retire.
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY WITH ALL SAIKfs' PUTNEY TRUSTEES. ANNUAL REPORT YEAR ENDED 31 DECEMBER 2020 The pandemi¢ has cllrtailed pastoral iNork: there h&8 been limited opportunit!. to arrange floiicts in church or to rittg bells, the Trs'otk of our adult and children's choit5 havc b]) curtailcd and the Youth Club has closed - all victims of CoN'i(L although in MO cases onlN' tempornrtlN'. The electornl Tr)11 numbers ported to the Annual Parochial Church Meeting in September 2020 ivere almost identical to the 2019 figures at 313 (do1 ts0) for Si Tr¥laTh 5 and 202 (up ttiol at All Saints, Both church buildings have been maintsined in good repair: although substantial has had to be carried out on the eyternal terrdce at St M2Th. S to eliminate the ingress of i1Cr. FILYAP4CIAL REVIEW Regular giving bTr' the congregations: including the Lssoci&ed Gift Aid rccovcry, increased by £8:256 (2.6 /0) to £330,Oi3, 11.hilc SundaTr pl*¢ ¢olle¢tions fell bN' £25,720 (67.) /ol to £12,400: due to the pandemic. Investm¢nt in¢ome increased to £72.166 (2019." £67.092). Restrictrd income. relating aimost ¢ntircl!' to Parish Action's chariN. fimdraising. li.as £61,J04. Thc Parish's total incorning resources in 2020 amounted to £i70:701 {2019_. £609.Oi l). a drop of onlfv 6.3 /. We are eYtrcmcl5' gratefiil lo our members ii'ho hai."e continued io giN"e generousl!. throughout a ven, difficult l'ear. The Patish claimed £12,393 of Coronai'irus Job Reiention Scheme gTxnts during 2020. Total resources expended ii'ere £40_102 (6.i/(b) loii-er at £i73:li2. The Parish Support Fund contribution To Ihe dioce5c, 'hICh coi'cr5 almost a]1 clerg!. lpendS and accommodatio rose b5, £2:310 (0.7/0) to £i20.164 &8 a resuli of Atl Saints. Dcc's decision to InCree its pledge. Other unrcstricted operdting costs ii'ere £73.323 (28.0 /0) loiver at £188:2i5. Expenditure dctails are set out In Note I I to these financial slatements. Ok'erall: for the l'ear. there "aS a sutplus of £8,727 (2019.. surplus £27.)34} on unrestricted funds, after iinrcaliscd gains on investments of £19:768 {2019: gains £43:306), and a su4)lus of £8,)90 (2019.. surplus £1 I,)69) on Restricted nds. Net Sets * the )'earend am0[ted to £2,163,678 (2019.. £2.146,361). PUBLIC BEIYEFIT Sectxon 17 of the Clwr'tics Act 2011 rcquires the Charih. Commi&sion to issuc gutdelines lo charities that ensure that the!. are op¢rnting for the public benefit. The guidelin¢s scpaTate 'benefit' and 'publi¢'. Th¢ PCC is satisfied that the Parish fi111s' mccts the requircments of the guldelines. Cliarities are requircd to enefit the public in geneTal, or a sufficient section of the public (what is a 'sufficient Scclion of the public, varies from PUryK)SC to pu1Fe)'. The M'otk of the Parish bcncfits its 515 members, as ii'ell manN' others iTrho participate in services or activities but ii,ho have not put their names on the electOTal roll. More imrtant]I". the Parish is a spiritsal resource and prOld¢S practical services for thc crtti Putnc%" comniunit%" through its pasiordl care: JIS involvement in locaj church schools, its charih" fundraising.. and other similar initiaiii'es. Those il'ho carTr' oui the i¥'OTk: othLI than the cl¢r. and one or M'o las stsff iiho arc paid i'cn. m(Klest sts"pends I s31anes. deriN'e no personal benefit from rhe ihousands of volwileer hours the!" provide each !'.e2r. Investment Policy The Parish is a long-temi investor. Its principal assets haF'e histOTicallTr been propert3'. held for both functional attd ittvestmcnt purposcs. Ti%'o residenti prop¢flies i¢T¢ at thc end of 2020. One, hich li' originallv acquired in 201) as accommodats.oii for the curate, has been let sinc¢ DLccmbcr 2017. whcn a morc Con.Cl¢nt1. situatcd housc. oiimed b!" St Matl's Church of England Charity, lan associatcd Ch]1}.}.. IKcamc available for the C¢,$ use. The firsi propcrrn", a long Iwchold flat bought in 20 1 I, is held &8 an invcstsncnt assct.
THE PAROCFIIAL CHURCH CObNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY WITH ALL SAINTS, PUT,Ey TRL STEES, ANNUAL REPORT (eorttinwe YEAR ENDED 31 DECEMBER 2020 The Parish has an inN'estment in thc Neiilon Real Return Fund iNhi¢h is designed to give a steadi. floth, of income and appreciation in the underls-ing assets that at least matchcs inflation. but at a low level of risk. In 2020 ineoTne amount¢d to £9:6)8 (2019". £10.1131 and there il'as an unrealised Capital gain of £21,027 {2019'. 8ain £40,9i8). AddÉtional inforniation on the Patish's invcstsnents Ggn be found in Note 19. Risk Review The PCC'S principal areas of risk ate considered to be.. Wod<in li ith childicn and Nwlncrable adults - expericnccd Safeguarding office havc becn appointed and polJci¢s and ii'otking praCtIS are rekieii.ed regularlN,. All adults ii".orking with children and TrwlneTablc adults are subject to DBS (Disclosurc & Barring Servi) checks. e to the churches - thc PCC asks its insurers: Ecclesiastic Insurance Group, to out regiilar risk rcvicii's and insuranc¢ roi"¢i is updatcd annuallv. FI and smok¢ alanns proteet th¢ buildings and valuable cont¢nts arc sccuritv marked. Tlieft of church contents - St Mary"'s Church, 'Ich is open eveN daTr', is staffed during thc opening houts. All Saints. Church is onli- open foi 5eTh'"iccs and other specific events. DeierioTaiion of the builth"n a full quinquennial surn'ei" is caTri¢d out in accordance with Church regul*ions. Iloth churches sutvcl'cd b!. the Parish Ar¢hitect during 2017. Fraud or finatEcial loss - procedu$ are in place ii'hich ensurc that at least pcoplc are involved in relation to cash counting and banking. the approval of elpcndlre and the approval of paNThcnt. Health and safet , _ both churches have hea]th and 5afet5' manllals: and risk assessments are carried out for those actii."itie5 that are considered to P05c an!. enhanced risk. PLANS FOR FUTURE PERIODS We are looking fomard to a more nornial church lifr as Covid restrictions ate scaled doii'.n. Much of the focus for thc rest of 2021 .1[1 be rebuilding the church communities and r¢sLthing the many activities that have had to cease or ii.hich haN'e been heavtls" cutsiled for mucb of 2020. We are also exciicd b). th¢ impending arrii."at of our first Pioneer Curnte ii-hose role .111 be to dcvelop ne fornis of church and new communÈti¢s in the Patish. ASSOCIATED CHARITIES Puth¢ ' Parish Develo meni Trust charitN' no. 279868 - the Rector and hN"o othcr members of the PCC are the trustees. The TTUSt iwas d0rn12ni throughout 2020. St Mm's Parish Trust charitt. no. I I1?724 the Reclor and the Wardens of St Marv's Church are ttustces. The Trust Mae5 thc Breii'er Bwlding, Thluch is a part of thc St Mary's complex. S-IV.modeso1d Trusi chartts. no. 2)4376 - the Rector and the Wardens of St Marv's Church ate trustces. This is a 5fflail non£cclesi&sticai grant rnaking charit¥ which holds some inN'cstrnents. St Marv's Church of En land aiari charftii. no. 117313) the Rector and the Parish Warden5 ITU5tc¢s. This ciwitl" OllT15 a SIdential properti, Ivhi¢h is uscil bv a curate, i%,h¢ there is olle in post. ii.hich thcrc has bccn since MaN. 2019: and ii'hich is let comn)crcia]l J, at other times. When the propert¥. TS Ict the charih." norniall!. makes a grant to the P1$h equaI to thc nct rcnt received. More infomiation is provided in Note 2) to the finan¢i31 ststements.
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY WITH ALL SAINTS, PUTNEY TRUSTEES, ANNUAL REPORT(¢oMift YEAR ENDED 31 DECEMBER 2020 The trns*es' annual report is.as appmved on IL Jul!, 2021 and signed on behalf of the Paro¢hia] Church Council, the twstees, bfv.. Revd hn Whittaker Team Rector
THE PAROCHIAL CHURCH COUINCIL OF THE ECCLESIASTICAL PARISH OF ST MARY WITH ALL SAINTS, PUTNEY IRNDEPENDENT EXAMtNER'S REPORT TO THE TRUSTEES OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY WITH ALL SAtNTS' PUTNEY YEAR ENDED 31 DECEMBER 2020 I report to the truslees on m) examination of the financial statemcnts of The Parochia] Church Council of The Ecclesiastical Parish of St MaTI" wIth All Saints. Putne!, ('the charitv,) for the s'ear ended 31 Decembcr 2020. RESPONSIBILITIES AND BASIS OF REPORT As the trustees of the chariti, vou are responsible for the preparation of the financial statements in accordance ii'ith the requirements of the Charities Act 2011 ('the Act,). I rcport in ttspeci of eknmiination of the chariis s financial swements carried out under section 14$ of the 2011 Act and in cam'ing out mi. examination I have folloii'ed all the applicable Directions given bv th¢ CharitTr' Commission under section 14i{i)(b) of the Act. Ir+lDEPENDENT EXAMINER'S STATEMENT Sinc¢ the chariti s gross income exceeded £2iO:000 lllour euminer must be a member of a bod}. listed in section 145 of the 2011 Act. I wnfimi that I am qualified to widertake the eNamination because I am a mcmbcr of thc Association of Chartercd Ccrtificd Accountants. ii.hich is onc of thc listcd bodics. I have completed MN. examination. I confiTm that no mateTial vnatteTs have come to my attention in connection w'ith the exarnination giIng me &2use to believe that in an!T material respect.. accounting records '¢t not kept in restKct of thc chan'ts. as Jrquircd b). 5CCtion 130 of the the financial statements do not accord ii'ith those cords. or thc financial statcmcnts do not compl!. Ivith the applicable requircmcnts conccming the fomi and conteni of accounts sct out in thc ChatitiC5 {AccoutEts and Reports) Regulations 2008 other than an!. requirement that thc accounts giiTC a 'truc and faif vicw ivhich is not a matter considered &8 part of an indendent examination. I have no concerns and have com¢ across no other matters in connectiOTL I1th thc ciaminthon to iihich attcntion should bc draiin in this rert in order to enable a proper Under$LdIng of the accounts to be reached. 10-12 High Strect Bames London SW13 9LW C.N. Wilknns FCCA Inde ndent Examiner J] Jlilv 2021
THE PAROCHIAL CHURCH COUN'CIL OF THE ECCLESIASTICAL PARISH OF ST MARY WITH ALL SAINTS, PUTNEY STA TELIIENT OF FINANCIAL AcfiviTIES YEAR ENDED 31 DECEMBER 2020 2019 Unrestrict funds Restricted funds Total funds Total funds Note Income and endowments Don2tions 2nd legacies Charitable aciii'ities Other trading activities Investment income Othei income 344.6)4 49.145 28,750 72.09) 14.753 58.025 402,679 49.14) 31.458 72,166 15.253 402.435 77.068 46.748 67.092 15,708 2.708 71 500 Total income i09.397 61,304 i70.701 609,051 Expendsture Exp¢nditurc on raising fijnds". Costs of raising donations and legacies Invcstment maneMent costs Exyenditure on charitable activitics Total expenditure 565 6.524 606.165 io 11,12 17.076 508.419 17,076 556,076 573,152 47.657 i25,49i 47,6)7 613,254 Nct gaills on investments 13 19.768 19,768 43,306 Net income 3.670 13.647 17.317 39,103 Transftts betsi'een fimds 5,057 (5,057) Net movement in funds 8.727 8.590 17,317 39.103 Reconciliation of funds Total funds brought fornard Tot21 funds earried fonvard 1,891,146 2)5,2 li 2.146,361 2,107,258 1.899.873 263.805 2.163,678 2.146.361 The statement of financial activities includes all gains and losses rccognised in the vear. All income and expenditure derive from continuing actikities. The notes on pages 11 to 27 form part of these finallciai statements.
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST IKARY WITH ALL SAINTS, PUTNEY STATEMENT OF FINANCIAL POSITION 31 DECEMBER 2020 2019 Note FIXED ASSETS Tansiblc fixed assets Invc5tments 18 19 362,988 1.416,19) 1.779.183 366,iJ6 1.383.408 1.749,944 CURRENT ASSETS DLbtors Cash at bank and in hand 20 54.003 354.242 103,771 33i.0i8 408,245 438,829 CREDITORS: amounts falling due within one year 21 (23:750} (42.412) 396,417 NET CURRENT ASSETS 384,49) TOTAL ASSETS LESS CURRENT LIABILITIFS 2.16J,678 2.146,361 FUNDS OF THE CHARITY Rcstnctcd funds Unrestncted fiinds 26J.80i 1.899.873 255,215 1.891,146 Total charity funds 23 2,163,678 2,146,361 These financial statements ii'ere approi'ed bs" the board of trustees and authorised for issue on /6 Juli, 2021, and arc signcd on bchalf of the Paroclll"al Church Council b) Revd Jo Rector n WThittaker Richard Holman Parish Tr&isurer The notes on pages 1 I to 27 form part of these financial statements.
THE PAROCHIAL CHLTRCH COUN'CIL OF THE ECCLESIASTICAL PARISH OF ST I¥IARY WITH ALL SAINTS, PUTNEY STA TEMENT OF CASH FLOWS YEAR ENDED 31 DECEMBER 2020 2020 2019 CASH FLOWS FROM OPERATING ACTIVITIFS Net incomc 17,317 39.103 Adjii.¥Èmep71sfor.' Dcprcciation of tangiblc fixed assets Nct gains on investments Other Interest receivable and similar income 3_164 (43.3061 (67,092) (19,768) (72.166) Changcj in." Trade and other d¢b[S Trade and other creditors 49.768 (18.662) (19,192) 4.936 Cash gencTrted from operations (39.963) (82,387) Interest receiwed 72.166 67,092 (15,295) Nct cash from/(uscd in) opeTrting activities 32,203 CASH FLOWS FROM INVESTING ACTIVITIES Purchas¢s of othcr invcslmcnts (13,019) (489) Nct used in ini'esting activities (lJ,019) (489) NET INCREASEI{DECREASE) IN CASH AND CASH EQUIVALENTS CASH AND CASH EQUIVALE.WfS AT BECINNIIYC OF YEAR CASH AND CASH EQUIVALEf4TS AT END OF YEAR 19,184 33i.Oi8 (15,784) 3iO.842 3)4,242 33i,Oi8 The notes on pages I I to 27 forni part of these financial statements. io
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARI, WITH ALL SAINTS, PUTNEY NOTES TO THE Flh'ANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2020 GEYERAL INFORMATION The charttN' is a public benefit entiti. and a regisiered chan'ty. in England and Wajes and is unincorporated. The address of the principal office is St MaTrs Chuich: Put¢. High Strcet, Putnei.. London. SW li ISN. STATEMEf4T OF COMPLIANCE ThL5C financial statements hal'c bccn prepared in compliance ii.ith FRS 102: 'Thc Financial Reporting Standard applicablc in thc UK and the Rcpublic of Ireland,. the sLe[ent of Recommended Practice applicablc Èo charities preparing their accounts In accordance ivith thc Financial Rcporting Standard applicable in the UK and Republic of I13d (FRS 102) (Charities SORP (FRS 102)) and thc Chatities Act 2011. ACCOUNTINC POLICIES Basis of preparation The financial sLitements have been Prepared on the bistorical cost basis. a5 Tnodified bs, the revatuation of certain financial awts and liabilities and investment properties measured at fair va]ue through income or expenditure. The financial stat¢ments are prepared in sterling.. iihich is thc fvnctional curtency of the entits,. Going concern There are no material uncertainties about the chariti s ability to continue. Fund accollnting Restricted Fund.. A restricted fund is a fi]nd subjeet to specific trnsts (e.g. b!, a letter fiom the donor at the time of gift). li maN' bc a capitsl fund: iihich caE0t be spent but must be retw.ned for the benefit of the church: or it may be an income fithd. Is'hich must be spent on the specified putposc ii'ithin a re&8onable lime_ Unrestricted funds". All fiind5 hcld for general purposes are kno1 a5 UnSICtcd ndS to distinguish them from restricted funds. The church's unt¢strict¢d funds are therefore those M".hich arc hcld for spending at the PCC'S disction. Thc5e include anv further filnds which the PCC has designated for particular purposes. D¢si nated futEd. If thc PCC sets aside part of its unrcstrictcd funds for a particular projert it mai, placc thesc in a sCpa[e unrestrictcd fund called a designated T]d. All unrcstricted fimds comprise inconie funds which the PCC MU spend v"ithin a [Gonable tim¢. li
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY WITH ALL SAINTS, PUTNEY NOTES TO THE FINAIYCIAL STA TEMENTS (e•Nw¢u¢d) YEAR ENDED 31 DECEMBER 2020 ACCOUNTING POLICIES (comrMe Incoming resources Volun Collcction5 arc rccogniscd ii,hcn received b!. or on beha]f of the PCC. Tai recoverablc uiidcr Gift Aid is recognised iTrhen the income 15 Tccogni5ed. Other, non specific donations are recogniscd when rec¢iYed. Funds rnised fcles, quiz nights and similar events are accounted for gros5. income.. Other income". Rental income from the letting of propertF' is recogniscd is,hen the renta] is duc. Satcs of magazines are a¢counied gr05s. Diiidend income is accounted for ivhen due and paN'ablc. Bank interest Is recognised and recordcd in the financiat statements as the income a¢crucs. Rcaliscd gains on properties are recognised M'hen the properties ate sold. Realised gnS and losses on investmenls are recognised whcn thc invcstmcnts are sold. Unrealised gains 01 losscs are accountcd for on reva]uation of ini."estments at 31 De1[ 2020. Resources expended nditure GenerallN' ENpcnditurc is included on an acctua]s basis and is recognised when thcrc is a legal or Constructive obligation to paN for exp¢ndituTE. Grants Granis and donalions are accounted for ii.'hen paid o%'er, or when awarded. if that award creatss a binding obligats.on on the PCC_ ActiTritics directlN' relatsn to the of the Church The Diocc5an Parish share is accounted for in the N'ear to ,"ch it relates. Anv Parish share Iinpaid at 31 December is provTded for as an operational IA2bilih, and is sho11 as a creditor in the ba]ance 5he¢t. Tangible gssets Consecrated . and moN'eable church fvrnishin Consecrnted and bcneficd prope of ans. kind is Gicludcd from the aunt$ by section 96 {2)(a) of the Chariti¢s Act 1993. This comprises mainl!. St Nqan"'s Church, PutneN' High Street and th¢ surrounding land. and AU Saints, Church: PutneN" Common and its land. The Parish also owns the freehold of the Old Buriai Ground: Upper RÈchmond Road. for the ma1)ement of hich the London Borough of wandsOrth has statutory" Tesponsibility. Moveable church furnishings held bi, the Vicar and Church iY2rd¢ns on special tThst for the PCC. and i&hich require a facultN. for dispo. are accoLLllted as inalirnablc propcrtN' unless con5ccrated. The!. are listed in the Church's inTrentor%." iihich &2n be inspected (at S5, reasonable time}. For inatiettable ppetty. acquired prior to 2WO thLtc is insufficient cost infomiation available ihLrcfore such &ssets are not N"alued in thc accounts. Items acquired since Ja]iuary' 2000 liave been capitsiiscd and dcpreciated in the a¢¢ounts over dicir currentl).. anticipated usbful economic life on a strn"ght-lin¢ basis. Improvements to consecrated or beneficed buildings costing less than £500 are inelud¢d in the rcsoiirccs cxpended in the N'ear in ii.hich thc!. are incurred. All maintenance and repairs are a]so included in the resources expended in the SOFA for the year in whl'ch the expenditure aris¢s. 12
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY WITH ALL SAINTS, PUTNEY NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2020 ACCOUNTING POLICIES {e0Arth Other immoveable Other immoveabl¢ propety comprises both functional and inv¢stm¢nt assets. Functional propett! is held ivith th¢ primarv putpo% of housing clerg!., although H"hen It is not rcquired for this purposc: Tt is let in order to generate income for the Pattsh. InN'cstmcnt prope. is held to providc Income and iiith the objeaiTrc of obtwning capital appreciation ovcr timc. The Parish regards itself ag a long-tem) inve5toi. At the year end the Parish owned a long leasehold apartment in the fijndionai eatsgory,, whicb was acquired during 2015, and a long leasehold apartment an investment. The ftTrrnier is sho, at cost: and it has not bccn dcprcciat¢d in th¢ financial Statements on the grounds of immateria]It!', due to the v¢Tr.' long economic life and its htgh residual value. The latter is included in the accounts at fair ialue &s of 31 December 2016: follo.{ng revaluation bv Parkgate Estatcs (Richmond) Ltd M"hich has PTovided infomiat confirniation that the market values of both properties are no less than the yucS shoii'n in the Balance Shcct. Chureh office cquipment including computers and fvrnitU Office equipment and furnituff used ii.'ithin the Church premises is depreciated OD 2 Strdight-line basis over four and ten )'ears respcctivel).. Individual it¢ms of ¢quipment ii'ith a purchase pticc of £1,000 or beloNN' ate not capitaiised, and thus ate includcd as revenue expenditu in thc SOFA in the year of purchase. Investments Investments arc revalued to mat&et value at 31 Dcttmber 2020. Depreciation DeptEciation is caiculcd so as to IlTite off thc c051 of an &sseL less its estimated residuaI value. over the useful economic life of that asset as folloiis". Depreciation is provided on aIl tangiblc fixed assets at T2tes ealeulatcd to write off cost on a stratght-line basis over their e_lCted useful economic lives as folloi¥5'. Church office equipment and compute Church furniture Gcdlv Plav equipment - 4 vears. - 10 vears. - 20 vears. Current 2ssets Amounts owing to the PCC at 31 December 2020 in Sp¢Ct of fees. rent& or other incomc are shoiim a8 debtors, less provision for an!." amounts that mav pmve uncollectible. Short term dcposits include held on deposit with thc CBF Church of England Funds. 01 at the bank. Inve5t]]]ent property Investment prOrtI. is initiall5. recorded at cosl which includes purch&5¢ price and ans, direcily" attributable eYpenditsI. Investment properti, is revalued to its fair value at each reporting d and any changes in fair value are recognised in income or expenditure. 13
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ,MARY WITH ALL SAINTS, PUTNEY NOTES TO THE FINANCIAL STA TEMENTS YEAR ENDED 31 DECEMBER 2020 AcCOUNTIG POLICIES If a liable measure of fair value is no longer available ii'ithout undue cost or effort for an item of inN'cstmcnt propcth,: it shall bc transfcrrcd to tangiblc a5scts and trcatcd as such until it is expected that fair value iiill be lIabl5. measurnble on an on-going basis. Impainnent of fixed assets A rcvicw. foi indicatOT5 of isnpaiTtncnt is cattied out at each rcw)rting date, Thqth the recoverable amoiint being eslimatcd ii.here such indicators exist. Ivhere the cam'ing value exceeds the recovcrablc amount, thc &sset is impaircd accordingl)." Prior impairni¢nts arc also wvicii¢d for possible reversal at each pOrting date. For the purposes of impaimient testing-. hen is not possible to escimate the recoverable amount of an individual asseL an estimate is made of the recoN'etable amount of the cash-generating unit io is-hich the &sset belongs. The heneratIng unit is the smailest identifiable group of asscts that includcs thc &t and generdte5 cash infloii's that largcl5' indcpcndcnt of the cash inflows from othcr &ss¢ts or groups of assets. For impainnent testing of goodMII: the g(>dii"ill acquired in a business combination is, from th¢ aequisiÈion dat¢: allo¢atcd to each of the cash%enerating units that are eipected to b¢ncfEi from the si'nergies of the combination, Irrespective of whether other agsets or liabilits.es of the chartty are assigned to those units. Financial instruments A financial asset or a financial liabilits. is recognised onl}, when the charity becomes a paty to th¢ contractua] proTrisions of thc instrument. Basic finat]cial instrumcnts are initialli, recognised at the amount Tcc¢ivablc or paTrablc including ani." rel¢d iransaction costs. Current asscts and current liabilities are subsequentl!" tnwurrd at thc cash or other consideration expected to be paid or t¢c¢iv¢d and not discounted. Dcbt instTuments are subsequently measured * amortised cost. Where investments in SI5 are publicl!.. traded or their fair value can otheTh4"ise be measured reliabli". the invcstmellt is subsequentl!.. measured at fair v'alue iNith changes in fair value rccogniscd in income and e.IpendiluTe. All other such investmetits are subscquend!, mca5urcd at cost less impaimient. Other financial instruments, including deriiatti'e& a initiall!. recognised at fair value, unless pa!ym¢ni for an assei is defcrrcd bel'ond nonnal business frnns or financcd at a rate of interest that is not a markct rate. in ii.hich the ass¢i is mcasuTed at the present value of the future paymcnt5 discounted at a mthet rate of interesi for a similaF dcbt instTumcnt. Othci financial instruments are subseqllend!. Muffd at fair valuc: with anN' changes recognised th¢ statctncnt of f]nanci activities: ii"Ith the exception of hedging instwmcnts in a designated hedging latIOnshIp. 14
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY WITH ALL SAINTS, PUTNEY NOTES TO THE FINANCIAL STA TEMENTS YEAR ENDED 31 DECEMBER 2020 Financial assets that are measured at cost or anTrort15ed cost are rek'ici¥'cd for objcctive evidence of impairment at the end of &qch repottsng d¢. If thcre is objective ei'idence of irrtpainncnt. an impairment loss is recognised under the appropriate heading in the sL*enient of financial activities in ii,hich the initia] gain w'as recogniS. For all equitTr' instruments regardless of sigttifie2nce. and other financial agsetg that a indii'idua]IN' significani thc5e are assessed indii'"idualli" for impaÈnnent. Othcr financial assets are either assessed indiN"idualK!.' or groUd on the basis of similar credit risk characteristics. Anlr reversals of impairtncnt arc rccognised immcdiateli,: to the eiient that the rcN'crsal does not result in a ¢am"ing amounl of the financial Set that exceeds M,hat the carrying amount ivould have been had the impajtmcnt not previousli" ken recognised. Defined contribution plans Contributions to defined contribution plans are recognised as an expense in the period in which the relatcd service is providcd. Prepaid contnbutsons are recognised as an assct to the citcnt that thc prepa)'ment will lead to a rcduction in future pa!'Inents or a cash refitnd. When contnbutions are not exCt¢d to be settled whollv M'.ithin 12 months of the end of the reporting dat¢ in i.hiCh the emploi'ees Tender the lated scrvice, the liabilits, is measured on a discounted present waluc basis. The unwinding of the discount is rccognised an eipcnse in the pcriod in ivhich it aTiSes. DONATIONS AND LEGACIES unstr[ctcd Funds Restricl¢d Total Funds Funds 2020 DONATIONS Gift Aid donations Incomc Tax Rec4)i'ernble 264.448 6).040 264,448 6i,60i 56) GIFTS Collcctiotts Donations 12.399 2.767 12.399 60,227 402,679 i7.460 344,654 i8.02) UnStriCted Fwids Restrict¢d Total Funds Funds 2019 DOLNATIONS Gift Aid donations Income Tix Rccoverable 2i1.483 70,314 251,483 70,314 GIFTS Collcctions Donations 38.120 6.307 38,120 42,518 402.435 36,211 366.224 36.211 15
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARI. WITH ALL SAiiYfs' PUTNEY NOTES TO THE FINAIYCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2020 CHARITABLE ACTIVITIES UnstCted Total Funds Unresth'cted TotsI Funds Funds 2020 Funds 2019 Church Lettings Magazine advertising WeddinglFuneral Fees 37,779 2,267 9,099 37.779 2.267 9.099 61,902 61,902 li,166 49.14) 49,14 77.068 77,068 OTHER TRADING ACTIVITIES Unrestricted Funds Restricted Total Funds Fund5 2020 Trust income Othcr grants 28,7iO 28,7iO 2.708 2,708 2,708 28,7iO 31,458 Unrestricted Funds R¢stricted Totsl Funds Funds 2019 Sponsorships Fundraising income Trust Income 7,000 7.000 4.041 3),707 4,041 35,707 42,707 4,041 46,748 INVESTMENT INCO.ME Unrestricted Funds Restricted Total Funds Funds 2020 Church Property. Rental Income Interest and DiTridends 61.182 10.913 61.182 10.984 71 72.095 71 72.166 unStriCted Funds Restrictcd Total Funds Funds 2019 Church Propcm. Rcntal Income Intcr¢sl and Diiid¥nd5 54,981 12.005 54,981 12.111 106 66,986 106 67,092 16
THE PAROCHIAL CHURCH COUIXCIL OF THE ECCLESIASTICAL PARISH OF ST MARY WITH ALL SAINTS, PUTNEY NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2020 OTHER IFICOME Unrestricted Funds Rcstrictcd Total Funds Funds 2020 Furlough scheme grJnts Other income 2.360 iOO 2,860 14.7)3 iOO li.253 UnTE5tticted FuTLds Restricted Totsl Funds Funds 2019 Events Tideii'ay Tunnel Compensation Diocesaft Propert5, Rental Income Oth¢r inrome 1,647 10,290 3,7iO 21 1,647 10.290 3,750 21 li.708 COSTS OF RAISING DONA TIONS AND LEGACIES Restricted Total Funds Funds 2020 Restricted Tots] Funds Fund5 2019 Fundraising Ewent Costs 565 56) 10. INVESTMENT MANAGEMENT COSTS Unrcslricted Total Funds Unrestricted Totsl Funds Funds 2020 Funds 2019 Maintenancc of let propert5, Rent Ulilits'¢s and miscellaneous expenses L¢tting Commission 7.649 4.800 2,277 2.3iO 7.649 4.800 2.277 2.3iO 5,354 1.170 1.170 17.076 17.076 6,524 6.524 17
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY WITH ALL SAINTS, PUTNEY NOTES TO THE FtNANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2020 11. EXPENDITURE ON CHARITABLE ACTIVITIES BY FUND TYPE UnTESttictcd Funds Restricted Total Funds Funds 2020 Missionarv and Charitable Giving Dioce&2n Quota Clerg!. expenses and accoTnmodation Sajatics and NIC LaTr' Staff Organists: choirs and music Tcaching and cvangelis Service eNpenscs Light. Hcat & WateT Insurance Maintenance - Buildings and Grounds CleaJ)ing and Waste Disposal Parish Magazine Lrtting Expenses Telephone & Intemet Poswe & Stationery IT Support Equiptnent miscellaneous Bank Charges and Intest Sundrv Items Depreciation Staff Recruitment and is'elfare Support costs 1,202 320.164 12.233 76.797 16.2)2 1.613 i.602 21.043 7.860 14.142 4.517 1.402 3,090 47.104 48,306 320.164 12.233 76.797 16.2)2 1.681 i.602 21,043 7,860 14,142 4.517 1.402 3.090 3.901 4.946 1.017 800 624 877 3.548 698 6,576 28 4,946 1.017 800 504 845 3.17) 698 6,576 120 32 373 i08,419 47,657 556.076 Unrestricted Funds Restrict¢d Total Funds Funds 2019 Missionary. and Charitable Giving Diocesan Quota Clergi.. expenses and accommodation Sa]aries and NIC Staff Organists: choirs and music Tcaching and evangelism Service expenses Light, Hcat & Water Insurance Ma]ntenance - Builth"ngs and Grounds Cleaning and W&ste Disposal Parish MazIn¢ Letting Eipenses Hospitalitv and refreshments Telephone & Intemet Post¢ & Stationct). IT Support Equipmcnt mi5¢¢112n¢ou5 6.089 317,8)4 14,881 69.254 29.480 1.897 4,7iO 20.2)2 24.789 30.878 317.8)4 14,881 69,254 29,480 650 4.7iO 20.252 7,863 5¥,568 4,868 300 6,045 456 4.504 4,730 2.214 2.155 58.)68 4.868 300 6,045 456 4.)04 4.723 2.214 2.15) 18
THE PAROCHIAL CHlJ]ICH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY WITH ALL SAINTS, PUTNEY NOTES TO THE FINANCIAL STATEMENTS YEAR EN'DED 31 DECEMI BER 2020 All Saints Office Utilities and cleaning Bank Char¥cs and Interest Siindn, Items Depreciation Events Staff Rccruitment attd iY¢lfar¢ Support cosls 6.808 20) 3.080 2.147 1.524 2.84) 6,668 6,808 477 3,080 3,164 I,)24 2.84) 6,668 606,165 272 1,017 579.430 26.73) 12. EXPENDITURE ON CHARITABLE AcfiviTIES BY AcfiviTY TYPE Wider Church Total 2020 Givfftng Facilities Admin PaTish SLlPPOrt Fund La}. staff Othcr ¢xpenses 141.7(M) 28.900 37,170 207,770 178,464 320.164 76.797 li9.115 11.200 iO.6i2 36.697 22.987 48.306 48.306 61.8)2 59.684 178,464 5i6,076 Wider Church Total 2019 Giving Ministry Facilities Admin Parish Support Fund Lai, staff Oth¢r cxpenses 126,000 11.942 5).061 191.854 317,854 69.254 219,Oi7 13.li3 99,057 44,li9 34.061 30.878 30,878 193.003 112.210 78,220 191,8)4 606,165 13. NET GAINS ON INVESTMENIS Unrestricted Total Funds UnTestrictrd Total Funds Funds 2020 Funds 2019 Gainsl(Ios5cs) on listed inw"cstmcnts 19.768 19.768 43.306 43.306 19
THE PAROCHIAL CHURCH COLINCIL OF THE ECCLESIASTICAL PARISH OF ST MARY WITH ALL SAINTS, PUTNEY NOTES TO THE FtNANCIAL STATEIMENTS YEAR ENDED 31 DECEMBER 2020 14. NET INCOME Net income is sw¢d after chwEingl(credits"ng)". 2020 2019 Depreciation of tangible fixed assets 3,)48 3,164 Is. Ir4DEPETrIDENT EXAMINATION FEES 2020 2019 F¢¢s paTr'able to the independcnt ¢¥arnin¢r for. Indcpcndenl eNamination of the financial statc¥n¢nts 6,576 6,668 16. STAFF COSTS The total staff costs and emploN'ec bencfits for thc tctM)rting pericMI are anai!.'sed as folloi4's.' 2020 2019 Wages and salaries Social seciirtti. costs Etnployer contributtons to pension plans 74.9)7 849 991 66,629 I,691 934 76,797 69,2)4 Th¢ av¢ragc h¢ad count of emplo!'¢es: including part-tune staff: during the vear .$ 8 (2019.. 7). Thc avcrag¢ number of emploN'ees during the comprised 3 administrative staff12019.. 3), 4 workjng in the ministry" of the Parish (2019.. 3) and I man4ing facilitics (2019.. 1). During the l'ear the PCC emploi'ed a propem. manager: pastoral assistants: childrcn'5 IVOTkers, church administrntOTS and organisE* none of .hoM Gqmed £60.000 p2. or more {2019.' none). Some organists and profrssional choir members iiere paid on a freelance basis. 17. TRUSTEE REMUNERATION AND EXPEN'SES During the s'ear no member of the PCC receii'ed anN' reimbursement of expcnses or remuneration In relation to that role. Parish clew. are eMplo.ed b¥, the Church Commissioners and are thetEfore not regarded as emplo)'ees of the PCC. 20-
THE PAROCHIAL CHURCH COUINCIL OF THE ECCLESIASTICAL PARISH OF ST MARY WITH ALL SAINTS, PUTNEY NOTES TO THE FtNANCIAL STA TEMENTS YEAR ENDED 31 DECEMBER 2020 18. TANGIBLE FIXED ASSETS land and butldings Equipment Total Cost At l January 2020 And 31 December 2020 Depreciation Ai l JanuaTr' 2020 Charge for the vear At 31 December 2020 3)2,724 114,367 467,091 100,))) 100.5)5 3,)48 104.103 104,103 Carrying amount At 31 Defember 2020 352.724 10.264 362,988 At 31 December 2019 3i2.724 13.812 366,536 Valuation of fixed assets The l¢as¢hold land and buildings compri5C5 rcsidential apartment at 88 Ha!Ivard Gardens. Putnei, ii.hich ii"&s acquiwd in 20 li as accommodation for a curate. Th¢ ptOPCTtv is Ict ii'hen. as in 2019 and 2020, it is not Tcquired for Parish staff. Thc properti, hag been reviewed for IMMient and no depciatIon charge is being made on the grounds that". The PCC has a polic¥ and Plet of rcgular maintenance and repair of the piopetty and it is unlikelv to sufFer an!. economic or techni& obsol¢sc¢nct. The estimated remaining liseI Ilfe of the building ii-ill exceed io Ncars. An}. dreciatIon charge Trould k inunaterial and M"ould not rc&sonably influence th¢ use of the accounts. 19. INVESTMENTS Listed Investment investments properties Total Cost or valuatio At l JanuaTTr. 2020 Additions Incomc rcinvcst Fair va]ue movements 900.000 1,383.408 12,iOO 519 19.768 12,500 i19 19.768 At 31 Deeember 2020 516.195 900.000 1,416.195 Impaiment At l January 2020 and 31 December 2020 Carryillg a]]]ount At 31 December 2020 i16.195 900.000 1,416.19) 1,383,408 At 31 December 2019 483_408 900.000 All investmcnts show] abovc arc held * I'aluatson. 21
THE PAROCHIAL CHURCH COU,cIL OF THE ECCLESIASTICAL PARISH OF ST MARY WITH ALL SAINTS, PUTNEY NOTES TO THE FtNANCIAL STATEMEIYTS {colAlI YEAR ENDED 31 DECEMBER 2020 Investment propertits The Parish a Ksidcntial long Ic&schold prop¢rt}' at 14J Kenili%.'orth Court: Lower Richmond Road. PutneN', ii.hich il'as re.alUed as at 31 tkcember 2016 £900.000 bl" Parkgate Estal¢s {Richmond) Limited. The PCC Is 5atisficd that this inN'cstmcnt has suffcrcd no long-temi impairnient in vatue. The valuation is b&scd on consid¢rabl¢ and cunEnt expeTience of Selling and letting flats in Keniliorth Court: an esthte of lio apartments ii'lu"ch il'as built in 190). The method liras rcferencing recent sales on the esLite and adjusting for dissimilar factors. such as the numbcr of bedrootns and the condition of the properts.. The main as511ttiptions ii.'ere that va&qnt possession as availablc and that, as confirnied bi. the Parish: the good condition. It is of the opinion of the trustees that there is no material change in the value of the propertv sincc the 31 December 2016 va]uion. FAnAncial assets held a¢ fair value Othei inwestvncnl &sscts consist of.. - 294 Class B ordinaTr' equiti. shaS in Ro21 Dutch Shell Plc. i8) units in the CBF Church of England In.¢$tMenI fund. - 223.692.415 Units in Newton Real Retum Fund. Sknck exchange invesrments are revalued according to the published prices quoted in the Financial Time5 at 31 December 2020. 20. DEBTORS 2020 2019 Income Ta R¢covcrabl¢ St s PaTish Trust Prepal'menis and aecrucd incom¢ Si Mary s Church of England Charits, 16.583 20,568 9,761 7,092 54.003 20,058 31.370 49.348 2,995 103,771 21. CREDITORS: amounts falling due within one year 2020 2019 Trade cicditots and acctued e¥pens¢ Tenanc. deposit Deferred income 19,60) 2.58) 1.560 37,277 3,115 2.020 23,750 42,412 22. PENSIONS AND OTHER POST RETIREMENT BENEFITS DefIned Contribution plans The amount rccognised in income or expenditUTC as an expense in relation to dcfined niribution plans iTras £991 (2019. £934). 22
iom o¥L
pjm
THE PAROCHIAL CHLRCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY WITH ALL SAINTS, PUTN:EY NOTES TO THE FINANCIAL STA TEMENTS YEAR ENDED 31 DECEMBER 2020 23. ANALYSIS OF CHARITABLE FUNDS The EmilN. P¢t¢r Fund is the Parish's share of the proceeds of sale of a propertv Used by Southii'ark Dioc¢5an Wel&wE. This properh. had been acquired bN' Wel&ire, M'ith the approval of the PCC, using the proceeds of e of a previous hotnc that been gifted b}." Emil). Pctcr to thc Pansh 5pecificall:. for usc as a moth¢r and babi. home. On the sale of the replacement propeth the PCC Tted that the bulk of the consideration should bc gift¢d to W¢lcare to enable the iiork that it had been &'Ing on at the house to continue in a]iernatii'e premises. The PCC has agreed to use the income from this fund for education and training PUTposes. 24. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted Funds Restricted Total Funds Total Funds Funds 2020 2019 Tangible fixed aSts Investments CutT¢nt assets CdItOrS Ic5S than l Tr'cat 360,J77 1.416_19i 147.0) I (23:7iO) 1.899.873 2,611 362.988 369.700 1.416,19) 1,339.613 408.245 43i.421 {23:7iO) (37,476) 2,163,678 2, &46,36l 261.194 Net assets 263.80.) A detw.led breakdoTr of r¢slricted funds is s¢t out in Note 23. Th¢ pury)oscs of th¢ main fund5 are.. l. Parish Action." Funds raised bi" the Parish primarill. for ¢ternal charities. 2. St Marn s Develo ment.. Proceeds of grants: donations: fund raising and interest less pavments madc for thc rcdcvclopmcnt and mwntenancc of St Man s Chureh. 3. HcnTr Smith Fund.. Donations r¢cciN'cd spccificalli. for th¢ ii"clfarc of tho% in nccd. 4. Fricnds of All Saints, Church.. £44:473 of this nd is held as an endois'mcnt to support music in the church. The bajance is for the upkeep of the building and grounds of All Saints, Church. Furniture and e ui ment." Funds dOnad specificail!. for the purchase of capitsl items, including CqUiPPTn¥ the Godls. Pla!. rooJn at St Man-'s Church. 6. S ecific Donations.. The Parish has receii.'ed a number of smaller gifts for purposes specified b!, th¢ do[[5. Thes¢ indiNiduallN' rEcord¢d and arc rctain¢d until appli¢d as thc donors 'ishcd. 7. Fabric Fund.. Thi5 15 committed to the maintenance of the fabric of the two churches and other properties owned bv the Parish. The Designated Fund is made up of four ¢l¢m¢nts: Welfare Fund.. Doiiatcd funds to be used at th¢ discrEtion of the incumbcnt. Minist, Fund.. Monies designated by All Saints, Church to suptK)rt futurc CIcY appointmcrtts. Maintenan Monics dcsignatcd bl. All Saints DCC for th¢ fvturc upkrxp of th¢ buildmg and grounds. Office rent.. Monies designated bv All Saints, DCC for the provision of future office accommodation 25
THE PAROCHIAL CHURCH COL'NCIL OF THE ECCLESIASTICAL PARISH OF ST MARY WITH ALL SAINTS, PUTNEY NOTES TO THE FINANCIAL STATEMENTS fcortirf4edJ YEAR ENDED 31 DECEMBER 2020 25. RELATED PARTIES NORA AND OLIVE BILEWER TRUST 296988 Under the temis of the Trusi Deed the Parish of Putnei. is entitled to receive 40 /0 of the Trust liicomc aTrnua]Iv. In thc N'ear to )] Dccember 2020 the amount rcccivcd bi. the Parish ii"'as £28:7iO (2019.. £J2_180). The Trust Deed rcquire5 that at least hvo trustees should be members of the Parochial Church Council. ST. MARY'S PARISH TRUST 1112724 The Recior and the churchiiardens of St. MaTh's Church are also trustees and directors of Si MaTh s Parish Trust (a chatitablc con1pal). Thc Trust leases thc BrciN'er Building, attached to St M3Th s Church: from the Parish under a l¢ase dated 29 Mar¢h 2007, pa1.ins an annual reni of £10:091. The ietm of thc Icasc is 99 N'cars from 20.09.200i. B! an widerlease of the same date ii%o offices in thc BreiNcr Building arc Ict to the Parish for the &2me period less 3 das's al a peppercom rent. At 31 December 2020 the Tnjst oil'ed the Parish £20,i68 (2019: £3 1.371). Thi5 tota] compriscs rcnl pal'ablc for the long le&£e of the land on il'hich the Breii"er Building il.as constructcd bN' thc Trust and a proportion of sa]aTiCS, Utilitics and other costs paEd for bv the Patish. This baiancc has been paid 5inc¢ thc cnd of 2020. ST MARY'S CHURCH OF EN'GLAND CHARITY 117313) This charitTr' Thas fornied b!.. a Scheme of the Charits. Comtnission on 8th June 1993, ii'hi¢h merged the asscts of threc previous charities, including the Church Hall Ttust (fomied 1897). It '&g Eegistered ii".ith thc CharitN' Commission on 22 Mi 2017. Previously it had remained unregistered due its income Illg undct5tO(MJ to bc l¢ss than £i,000 p.a The objects of the charitl" a to "furthcr thc rcligious and other chitable ii'otk of the Church of England in the Ecclesiastical Parish of Si MaTr' PutneN The trustees are the Viw and Wardcn5 of the Parish. This eharity a residential propeth, at 8 Deodar Road and a150 the freehold of 120 Putnev Bridge Road, on iihich a 99 l.ear lease grantcd ID 1982, for a premium of £iU:000, at an annua] ground rent of £200 from 2015 to 2048, II"bcD It rises to £300. The Trustees of the charitv resoli'ed to make a grant to the Parish of the net rental income from these properti¢s in 2017. From l i August 2017 8 Deodar Road was made available to the Parish i¢nl-fr¢c as accommodation for the curate. Part of thc premium, ii'hich 'aS held bN the Rochester &. Southii."atk Diocc&2n Church Trust as custodian tntsree, u'as Ttleased to the Parish in 1999 to assist in the funding of Tnajor improN'cments to All Saints, Church and the remainder. thc accumulatcd intcrcst: ii.'as drawn doMTn b5, the Partsh in part funding of a new Hall ncxt to St. MaTh s Church 26
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY WITH ALL SAINTS, PUTNEY NOTES TO THE FINANCIAL STATEMENTS (eon(iHud) YEAR ENDED 31 DECEMBER 2020 BIGGS.IIYMONDESOLD CHAIUTY 2)4376 The T&wn Rector and the churchM'ardens of St Mar%T'S Church are the trnstces of this chariti'(register No. 254376). This is a 'relief of need, chatii!., ii'liich assists those in anN' ti'pe of need. but its fi]nds arc not available for church PUTPOSCS. It consists of scvcn old charit!. funds- RookerK. Close. T KennetL J Po.c11. Benjamin Hunt BI5. William w}101]d¢S0]d. Elizabeth Offley and the Fulham Bridge CharitiT PUTNEY PARISH DEVELOPMENT TRUST 279868 This ch1. w'&8 fornied in 1980 to restore: develop.. iMproe. mainL. and repair the Church of St MaTr s Putnes.. The objccts ii'cr¢ ¢Ntended in 1994 to includc ihc Church of All Saints, Putnev. The Vicar and Churchiiardens of the Parish are ex Officio trustccs. other trustecs are nominated and appointcd a majoTits" of thc cxisting trustres. The clwi"ts' been dotmant for sei'ejxl }'¢ars. 27