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2020-12-31-accounts

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY BARNES

Diocese of Southwark

Charity Registration Number: 1138952

Report & Accounts 31 December 2020

Simply Churches Chartered Accountants 17 Heathville Road London N19 3AL

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY BARNES

Report and Financial Statements 2020 Contents

Page
Legal and administrative information 2
Report of the Parochial Church Council 4
Independent Examiner's report to the Parochial Church Council 9
Statement of financial activities 10
Balance sheet 11
Notes to the financial statements 12

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY BARNES

Legal and administrative information For the year ended 31 December 2020

Charity Name

The Parochial Church Council of The Ecclesiastical Parish of Holy Trinity Barnes

Charity no 1138952. The Parish was established in 1898 and is a charity which was formally registered with the Charity Commission on 11 November 2010.

Principal Address The Parish Office, Holy Trinity Barnes, 162 Castelnau, London SW13 9ET. The Governing Parochial Church Council Powers Measure (1956) as amended and Church Representation Document 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 The Revd David Cooke Chair Churchwardens Mrs L Jones (Deputy chair) (from 10/2020) Mr J. Burn (to 10/2020) Ms D. Home Elected Lay Ms. L. Schuman (until 10/2020) Representatives Ms. J. Hodder Mr. B Williams (to 10/2020) Mr. F Johnson (to 10/2020) Mr P Darkin Ms S. Lucas Mr. P Buckwell Ms. C Garbett Mr. C Matthews (from 10/2020) Mr. A Stewart (from 10/2020) Mr. J Burn (from 10/2020 to 12/2020) Mr. A Louw (from 10/2020) Mr. D Hewitt (Treasurer – co-opted) Lay Representatives to Mr. M Chamieh the Deanery Synod Mrs. G Stride (to 12/2020) Mrs. G Hill (from 12/2020) In attendance Mr P Boyton (Secretary) (to 11/2020) Mrs C. Dyer (Youth and Children’s Pastor & PCC secretary from 12/2020) Mr S Copsey (assistant pastor from 3/2020)

Key Management Those in charge of planning, directing, controlling, running and operating the Charity, Personnel including those members of staff who are the senior management personnel to whom the trustees have delegated significant authority or responsibility in the day-to-day running of the charity, are the Vicar, the Assistant Pastor (from 3/2020), the Operations Manager (to 11/2020) and the Children's and Youth Pastor.

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY BARNES

Legal and administrative information For the year ended 31 December 2020

Bankers National Westminster Bank Putney Branch 111-117 Putney High Street London SW15 2LL Independent John Helm ACA Examiner Simply Churches 17 Heathville Road London N19 3AL Quinquennial James Ford RIBA AABC Inspector Clague LLP 62 Burgate Canterbury Kent CT1 2BH

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY BARNES

Report of the Parochial Church Council For the year ended 31 December 2020

The Parochial Church Council of the Parish of Holy Trinity Barnes (“PCC”) submits its report and the financial statements of the PCC for the year ended 31 December 2020. 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.

1. Structure, Governance & Management

1.1 Trustees

The PCC is a body corporate with perpetual succession. The PCC meets approximately 4 times per annum to discuss 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 Parish Meetings (APM) in accordance with the Church Representation Rules.

None of the PCC members receives remuneration.

1.2. Standing Committee

This is the only committee required by law. It has power to transact the business of the PCC between its meetings, subject to any directions given by the Council. The members of the Standing Committee who were serving at the date of this report were:

The Vicar (Chair) Mrs L Jones (Churchwarden / Deputy Chair) Ms D Home (Churchwarden) Mr D Hewitt (Treasurer) Mr A Stewart (PCC representative)

1.3 Church Attendance

The Electoral Roll revised in preparation for the Annual Parish Church Meetings (APCM) held in October 2020 comprised of 92 members.

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 church 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 church, it has established effective systems and procedures to mitigate those risks.

2. Activities, Strategies & the Public Benefit

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

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY BARNES

Report of the Parochial Church Council For the year ended 31 December 2020

3. Achievements and Performance

Welcoming people to Jesus

‘He welcomed them and spoke about the kingdom of God, and healed those who needed healing’ Luke 9:11

2020 was a year profoundly impacted by the Covid-19 pandemic. This demanded an immediate and dramatic rethink of how to deliver ministry which we did our best to respond to as a church. Of course, it has been extremely difficult pastorally and practically not to connect physically and this has been particularly true for families, as we have been unable to offer any physical church for children and families. Our physical services, when they happened, were able to meet this need for connection and these are due to resume after Easter (as lockdown eases and regulations allow).

Here is a summary of key activities in 2020:

4. Going Concern Review

Each year it is 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.

As part of this year’s going concern review, the PCC has considered the impact of the COVID-19 pandemic during 2020, as well as the potential ongoing impact during 2021 and 2022. As a church, we have been blessed in that the majority of our income is in the form of offerings and donations from our church members made electronically by means of standing order or bank transfer, and these have been broadly stable through the lockdowns to date. However the PCC considers that the financial risks to the church’s ministry remain higher than normal due to ongoing uncertainty arising from the potential for new strains of COVID-19 to lead to further waves of the disease and / or further lockdown restrictions.

The PCC has budgeted to incur a deficit in 2021. However, this is not driven by COVID-19, but rather by the desire of the PCC to expend some of its accumulated reserves, in the hope that this will lead to the future growth of the church. Our cash reserves are more than adequate to absorb the budgeted deficit, and - on the positive side - one-off gifts for the year-date already exceed the total budgeted for the year. Accordingly, the PCC has concluded that it is appropriate to prepare the 2020 Accounts on a going-concern basis and that it is not necessary to make any adjustment to these

5

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY BARNES

Report of the Parochial Church Council For the year ended 31 December 2020

accounts as a result of the lockdown restrictions. The PCC will continue to keep both the short-term and longer-term impact under review.

5. Financial Review

5.1 Financial Activity and Financial Position

The PCC’s main sources of funding are the free will offerings of church members and rental income from the hiring out of the Church Hall and the Castelnau Community Centre.

The Statement of Financial Activities and Balance Sheet can be found on pages 10 and 11 respectively. The Church’s reserves decreased by £35,201 during the year (2019 increased by £84,488). The balance sheet shows total net assets of £1,671,610 (2019: £1,706,811).

Included in total funds are amounts totalling £6,596 (2019: £1,237), 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 9 to the accounts together with an analysis of movements in the year.

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 6 months’ routine general fund expenditure, 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 incoming resources and will allow the church to cope and respond to unforeseen emergencies whilst specific action plans are implemented.

At 31 December 2020 the church had net free reserves of £657,683 (2019: £704,400) as follows:

Total reserves
Less: restricted funds
Less: fixed assets
Free reserves
Free reserves requirement:
6 month’s budgeted routine expenditure
Fund for future church planting
Funding for anticipated site development plans
Free reserves requirement:		 2020 2019
£
1,706,811
(1,237)
(1,001,174)
£
1,671,610
(6,596)

(1,007,331)
704,400
657,683
180,000
60,000
464,400
180,000
60,000
417,683
704,400
657,683

5.3 Investment Policy

The church currently places funds not required for immediate use on bank current account. The PCC is in the process of formulating an investment policy as it considers funding required for the site development plans.

6. Plans for Future Periods

The APCM was delayed until October 2020 due to Covid 19 when a new PCC was elected together with a newly composed Standing Committee. This was followed by a first PCC meeting in November with a main agenda item ‘Reshaping the Vision

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY BARNES

Report of the Parochial Church Council For the year ended 31 December 2020

for the Future’. This was then followed by a PCC / Leaders day in January where this was engaged with in more depth and detail. A reflection paper and a 3-year Strategic timeline has been produced.

In light of ‘Reshaping for the future’, and also following two unanticipated staff resignations, Hannah Milstead of ‘Milstead Consulting’ has been engaged to assist us in how we can most effectively resource ministry going forward. We hope to have our plans in place by the mid-summer to allow us to be ready for the new academic year.

Post-Covid Ministry : Our ministry has moved online, and we have connected with people in a very different way. The most obvious impact of this is we have been able to welcome new people who would otherwise not have connected with us. People have not only engaged with online services, but they have also joined our Connect groups, mid-week teachings and done Alpha. The Staff Team have been working with ‘Lead Academy’ (grouped with over 10 other church leadership teams) to help us formulate plans for reopening. We have also approved the installation of equipment for streaming services and events.

Kids and Families : ‘Trinity Kids’ also moved online. This has been well-received by parents and children and resources have been sent to homes to assist with family discipleship. We have produced a range of film resources for families who attended the Well and for Lowther School and these have been greatly appreciated. Families have also had the opportunity to gather for regular Family Zooms on Sundays. We are assessing all we have learnt through our Covid enforced shift to family/ household-centred ministry and are feeding this into our future planning.

Boileau Road : The Team Council has agreed to sell this property, in which we have a 29% share. This will be sold at some point in 2021.

Castelnau Centre : We have started negotiations for the renewal of this lease (25 years) which in coming to an end in in 2022.

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 charity and of the incoming resources and application of resources 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.

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY BARNES

Report of the Parochial Church Council For the year ended 31 December 2020

8. Approval

The report of the PCC was approved by the PCC on 26 April 2021 and signed on its behalf by:

The Revd David Cooke Chairman

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY BARNES

Report of the Independent Examiner to the Parochial Church Council of The Parish of Holy Trinity Barnes

I report on the financial statements of The Parish of Holy Trinity Barnes for the year ended 31 December 2020, set out on pages 10 to 21.

This report is made solely to the Parochial Church Council in accordance with section 145 of the Charities Act 2011 (the Act). My independent examination has been undertaken so that I might state to the Parochial Church Council those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by the law, I do not accept responsibility to anyone other than the Trust and the Parochial Church Council for my independent examination, for this report, or the opinions I have formed. 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.

RESPECTIVE RESPONSIBILITIES OF PAROCHIAL CHURCH COUNCIL AND EXAMINER

The Parochial Church Council considers that an audit is not required for this year under section 144(2) of the Act and that an independent examination is needed.

It is my responsibility to:

BASIS OF INDEPENDENT EXAMINER’S STATEMENT

My examination was carried out in accordance with 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 seeking explanations from the Parochial Church Council concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the accounts.

INDEPENDENT EXAMINER’S 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 ACA 26 April 2021

9

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY BARNES

Statement of Financial Activities For the year ended 31 December 2020

Note
Income from:
2
Donations and legacies
Charitable activities
Other trading activities
Investments
Total Income
Expenditure on:
Charitable activities
3
Total Expenditure
Net income/(expenditure)
4

Transfers between funds

Net movement in funds
Total funds brought forward

Total funds carried forward
 Unrestricted
Funds
2020
£

275,880
763
40,954
13,273		 Restricted
Funds
2020
£
9,046
-
-
-
9,046
3,687
3,687
5,359
5,359
1,237
6,596		 Unrestricted
Funds
2019
£
364,772
455
43,298
-


Restricted
Funds
2019
£
8,393
-
-
-
8,393
14,266
14,266
(5,873)
(5,873)
7,110
1,237		 Total
2019
£
373,165
455
43,298
-
Total
2020
£
284,926
763
40,954
13,273
330,870 408,525 416,918
339,916
371,430
371,430
(40,560)
(40,560)
1,705,574
1,665,014		 318,164 332,430
375,117
318,164 332,430
375,117
90,361 84,488
(35,201)
-
-
90,361
1,615,213		 84,488
1,622,323
(35,201)
1,706,811
1,705,574 1,706,811
1,671,610

10

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY BARNES

Balance Sheet As at 31 December 2020

Note

Fixed Assets
Tangible Assets
4
Investments
5
Current Assets
Debtors
6
Cash At Bank And In Hand
Creditors - Amounts Falling
Due Within One Year
7
Net Current Assets
Net Assets
Represented By:
Restricted Funds
8
Unrestricted Income Funds
9
General
Designated
Total Funds		 Unrestricted
Funds
2020
£
1,007,331
273,608
1,280,939
18,528
376,573
395,101
11,026
384,075
1,665,014
-
1,605,014
60,000
1,665,014		 Restricted
Funds
2020
£
-
-
0
-
6,596
6,596
-
6,596
6,596
6,596
-
-
6,596		 Total
2019
£
1,001,174
273,608














Total
2020
£
1,007,331
273,608
1,274,782
36,919
396,410
1,280,939
18,528
383,169
433,329
1,300
401,697
11,026
432,029
390,671
1,706,811
1,671,610
1,237
1,645,574
60,000
6,596
1,605,014
60,000
1,706,811
1,671,610

The financial statements were approved by the PCC on 26 April 2021 and signed on its behalf by:

David Hewitt Treasurer

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY BARNES

Notes to the Financial Statements For the year ended 31 December 2020

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. Grant income is recognised on a receivable basis.

The income from trading activities includes rental income from the letting of church premises and freehold land and buildings which is accounted for when earned. It is shown gross, with the associated costs 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 and governance costs:

Rentals under operating leases are charged as incurred over the term of the lease.

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY BARNES

Notes to the Financial Statements For the year ended 31 December 2020

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 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. They are considered by the PCC to be inalienable property. All expenditure incurred on consecrated or benefice buildings and moveable church furnishings, whether maintenance or improvement, is expensed within the Statement of Financial Activities.

PCC Property. The freehold land and buildings at the Stillingfleet Road Community Centre, Barnes SW13 is stated at valuation, having been valued for the first time in 2015. It will be revalued on a 5 yearly basis and the valuation was reviewed in 2020. The PCC has classified the property to Tangible Fixed Assets as a mixed motive investment, held partly for income and partly to further the PCC’s charitable purposes. The property is not depreciated because the property will be subject to regular valuation.

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 five years.

Investment Property

The PCC’s investment property is a part share in the residential property at 52 Boileau Road, Barnes SW13. The property is stated at market value.

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:

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY BARNES

Notes to the Financial Statements For the year ended 31 December 2020

2. Income

Unrestricted
Funds
2020
£
Restricted
Funds
2020
£
Donations & legacies
Offerings and donations
224,190
6,796
Income tax reclaimed
51,690
1,250
Grants
-
1,000
275,880
9,046
Charitable activities
Fee income (net)
763
-
Other trading activities
Rent (Castelnau Community Centre & allotments)
39,280
-
Lettings income – church hall
1,624
-
Other
50
-
40,954
0
Investment income
Bank interest
1,094
-
Rental income
12,179
-
13,273
0
330,870
9,046		 Total
2019
£
302,709
69,856
600		 Total
2019
£
302,709
69,856
600
Total
2020
£
230,986
52,940
1,000
373,165
455
39,280
3,968
50
284,926
763
39,280
1,624
50
43,298
-
-
40,954
1,094
12,179
0
13,273
416,918
339,916

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY BARNES

Notes to the Financial Statements For the year ended 31 December 2020

3. Expenditure on Charitable Activities

Provision of clergy
Parish Support Fund
Vicar’s stipend
Clergy expenses
Vicarage expenses
Associate pastor stipend (incl. Employer’s NI)
Church Life & Outreach
Advertising & publicity
Parish training & mission
Children & youth work
Alpha course
Intern expenses
Music (organist, organ & piano tuning)
Worship & upkeep of services
Catering & hospitality
Foodbank
Gifts and grants (see analysis 3b below)
Provision of Buildings and Facilities
Heat, light & water
Insurance
Repairs, maintenance & cleaning
Garden maintenance
Temporary on-site accommodation
Professional Fees
Provision of Office & Support
Operations & support salaries (incl. Employer’s NI)
Staff expenses
Computer costs
Depreciation - equipment
Telephone & internet
Printing, stationery & postage
Photocopying
Payroll and accountancy
Professional fees
Bank charges/interest
Other
Governance
Independent examination		 Unrestricted
Funds
2020
£
Restricted
Funds
2020
£
42,500
-
40,016
-
-
-
6,680
-
61,728
-
150,924
0
5,339
-
69
3,687
38,112
-
745
-
6,000
-
1,819
-
30,903
-
800
-
-
-
46,182
-
129,969
3,687
3,527
-
6,842
-
5,334
-
1,333
-
10,944
-
11,142
-
39,122
0
35,421
-
104
-
1,382
-
1,995
-
2,056
-
646
-
2,235
-
1,251
-
2,716
-
400
-
1,629
-
49,835
0
1,580
-
371,430
3,687		 Total
2019
£
42,500
39,415
1,040
6,660
-
Total
2020
£
42,500
40,016
-
6,680
61,728
89,615
1,037
6,566
42,145
3,705
10,860
1,395
17,084
6,524
63
67,823
150,924
5,339
3,756
38,112
745
6,000
1,819
30,903
800
-
46,182
157,202
3,985
6,994
4,825
1,823
12,642
7,448
133,656
3,527
6,842
5,334
1,333
10,944
11,142
37,717
36,261
317
1,095
2,073
1,944
434
1,806
1,285
-
361
1,240
39,122
35,421
104
1,382
1,995
2,056
646
2,235
1,251
2,716
400
1,629
46,816
1,080
49,835
1,580
332,430
375,117

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY BARNES

Notes to the Financial Statements For the year ended 31 December 2020

3a. Staff Costs

In addition to the many volunteers who give their time to the church, there were 5 (2019: 4) employees whose costs are included within the main cost categories of “Expenditure on Charitable Activities” (note 3 above). Their aggregate emoluments were as follows:

Gross salaries
Employer’s National Insurance
Employer’s Annual Allowance
Pension contributions
Of which the following was paid to key management personnel: gross salaries		 2020 2019
£
81,989
6,497
(3,000)
1,564
£
148,018
14,597
(4,000)

3,385
87,050
162,000
52,285
102,555

These figures exclude the amounts paid to the Diocese for the vicar who is funded through the Parish Support Fund and direct stipend charges from the Diocese. Those costs were £82,516 (2019: £81,915). No employee received emoluments in excess of £60,000 during the year (2019: nil).

3b. Gifts & Grants

Unrestricted
Funds
2020
£
Restricted
Funds
2020
£
To organisations:
Riverbank Trust
3,874
-
Castelnau Community Centre
26,812
-
Regenerate
3,874
-
Vineyard Community Centre
3,874
-
Hannah Gentry Fund
-
-
LVA Trust
3,874
-
Kick London
-
-
Liv (UK)
3,874
-
46,182
0
To individuals:
-
-
46,182
0		 Total
2019
£
6,891
26,812
6,891
6,891
5,000
2,500
4,391
6,891
Total
2020
£
3,874
26,812
3,874
3,874
-
3,874
-
3,874
66,267
1,556
46,182
-
67,823
46,182

16

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY BARNES

Notes to the Financial Statements For the year ended 31 December 2020

4. Tangible Fixed Assets


Cost
At 1 January 2020
Additions
Disposals
At 31 December 2020
Depreciation
At 1 January 2020
Charge for Year
Disposals
At 31 December 2020
Net Book Value
At 31 December 2020
At 31 December 2019		 Freehold
land &
building
£
Fixtures,
fittings &
equipment
£
1,000,000
38,540
-
8,152
-
-
1,000,000
46,692
0
37,366
-
1,995
-
-
0
39,361
1,000,000
7,331
1,000,000
1,174
Total
£
1,038,540
8,152
-
1,046,692
37,366
1,995
-
39,361
1,007,331
1,001,174

All of the fixed assets are used for charitable purposes.

Stillingfleet Road Community Centre

The PCC owns the land and property at Stillingfleet Road, Barnes, London SW13. The land was originally gifted to the PCC and the cost of the building was expensed at the time it was incurred. The current Market Value of the freehold interest of the hall, with full vacant possession and in its existing condition is in the order of £1,000,000. The valuation was performed by Chartered Surveyors, Biscoe Craig Hall in March 2015.

Background

In 1928 at the time of the construction of the Castelnau estate the London County Council (LCC) conveyed the freehold land on Stillingfleet Road, Barnes SW13 9AQ for the purpose of building a church, a hall and a parsonage house. In fact the only building erected was the estate church hall in which much activity took place, including church services. The hall was deconsecrated during the 1939-45 war and was never re-consecrated. In December 1978 the hall was leased to the London Borough of Richmond upon Thames (LBRUT) which undertook to manage all activities within the hall and maintain it in good repair. In March 1998 LBRUT surrendered the remainder of its tenancy and a new 25 year lease was granted to the Castelnau Centre Project (CCP). At all times the title to the land has been held by the South London Church Fund and Southwark Diocesan Board of Finance (and formerly the Rochester and Southwark Diocese) as custodian trustee for the PCC.

The CCP is a local charity helping to develop resources on the Castelnau estate for the whole community. The 25 year full repairing and insuring lease expires in March 2022. The PCC currently supports the CCP by donating a portion of the lease income back to CCP annually (2020 lease income: £39,000 : 2020 grant £26,812).

17

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY BARNES

Notes to the Financial Statements For the year ended 31 December 2020

5. Fixed Asset Investment

5. Fixed Asset Investment
Freehold residential property:
At 1 January
Revaluation (see below)
At 31 December		 2020 2019
£
273,608
-
£
273,608
-
273,608
273,608

The residential property is at 52 Boileau Road, Barnes SW13. The PCC owns a 29.74% share in this property. Title to the property is held by the South London Church Fund and Southwark Diocesan Board of Finance as custodian trustee, with restrictions on disposal for the benefit of Holy Trinity, St Mary’s and St Michael’s (the two other churches in the Barnes Team Ministry). The property was purchased in July 1992. In the opinion of the PCC the market value of the property is in the order of £920,000 (29.74% of which is £273,608).

6. Debtors

6. Debtors
Lettings
Income tax recoverable
Other debtors		 2020 2019
£
-
34,133
2,786
£
560
4,762
13,206
36,919
18,528

7. Creditors - Amounts Falling Due Within One Year

7. Creditors - Amounts Falling Due Within One Year
Accruals
Other creditors including taxation and social security		 2020 2019
£
2,585
-
£
6,028
4,998
2,585
11,026

18

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY BARNES

Notes to the Financial Statements For the year ended 31 December 2020

8. Restricted Funds

8a Current Year

Mental health training
Airfare for guest speaker
Foodbank
Love Christmas
Covid19
Total
8b Prior Year
Gift day 2015 & earlier
Gift day 2019
Discretionary fund
Mental health training
Airfare for guest speaker
Foodbank
Leaving Gift
Total		 At 1
January
2020
£
300
700
237
0
0
1,237		 Income
£
Expenditure
£
Transfers
£
-
-
-
-
-
-
-
-
-
2,796
(2,796)
-
6,250
(891)
9,046
(3,687)
0		 Income
£
Expenditure
£
Transfers
£
-
-
-
-
-
-
-
-
-
2,796
(2,796)
-
6,250
(891)
9,046
(3,687)
0		 Income
£
Expenditure
£
Transfers
£
-
-
-
-
-
-
-
-
-
2,796
(2,796)
-
6,250
(891)
9,046
(3,687)
0		 Income
£
Expenditure
£
Transfers
£
-
-
-
-
-
-
-
-
-
2,796
(2,796)
-
6,250
(891)
9,046
(3,687)
0		 Gains/
(losses)
£
-
-
-
-
0		 At 31 At 31
December
2020
£
300
700
237
0
5,359
6,596
At 1
January
2019
£
Income
£
Expenditure
£
Transfers
£
5
-
-
(5)
7,105
5,383
(12,493)
5
0
1,250
(1,250)
-
0
600
(300)
-
0
700
-
-
0
300
(63)
-
0
160
(160)
-
7,110
8,393
(14,266)
0		 Gains/
(losses)
£
-
-
-
-
-
-
-
0
At 1
January
2019
£
5
7,105
0
0
0
0
0
7,110		 At 31
December
2019
£
0
0
0
300
700
237
0
1,237

Gift Days – funds established to provide funds for activities outside of the day to day running costs of the church. The amounts raised are applied at the discretion of the PCC.

Love Christmas – A fund established to support the Love Christmas initiative whereby ‘blessing’ packs of resources (food, craft etc.) were delivered to many members of the community in time for Christmas.

Covid19 – A fund established to support initiatives that respond to need created by the Covid-19 pandemic.

19

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY BARNES

Notes to the Financial Statements For the year ended 31 December 2020

9. Unrestricted Funds

9a Current Year

General
Designated Fund:
Church plant
Total
9b Prior Year
General
Designated Fund:
Church plant
Total		 At 1
January
2020
£
1,645,574
60,000
1,705,574		 Income
£
Expenditure
£
Transfers
£
330,870
(371,430)
-
-
-
-
330,870
(371,430)
0		 Income
£
Expenditure
£
Transfers
£
330,870
(371,430)
-
-
-
-
330,870
(371,430)
0		 Income
£
Expenditure
£
Transfers
£
330,870
(371,430)
-
-
-
-
330,870
(371,430)
0		 Income
£
Expenditure
£
Transfers
£
330,870
(371,430)
-
-
-
-
330,870
(371,430)
0		 Gains/
(losses)
£
-
-
0		 At 31 At 31
December
2020
£
1,605,014
60,000
1,665,014
At 1
January
2019
£
Income
£
Expenditure
£
Transfers
£
1,555,213
408,525
(318,164)
-
60,000
-
-
-
1,615,213
408,525
(318,164)
0		 Gains/
(losses)
£
-
-
0
At 1
January
2019
£
1,555,213
60,000
1,615,213		 At 31
December
2019
£
1,645,574
60,000
1,705,574

Church plant – a fund established in 2015 to support further church planting activities.

10. 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		 2020 2019
£
6,371
1,656
8,027
£
5,595
552
6,147

20

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY BARNES

Notes to the Financial Statements For the year ended 31 December 2020

11. Related Party Transactions

There were the following transactions with related parties:

Siobhan Burn, the spouse of Jonathan Burn, a member of the PCC until 12/2020, received gross remuneration of £14,803 (2019: £14,013) in her role as Operations Assistant.

The PCC gifted £3,874 (2019 - £6,891) to Regenerate. Lisa Jones, who became church warden in 11/2020, is the Chair of Trustees of Regenerate.

Members of the PCC gave a total of £153,169 (2019: £186,086) in unrestricted offerings and donations during the year.

21