THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST LEONARD SHOREDITCH Diocese of London
Charity Registration No. 1139673
Annual Report and Accounts 31 December 2022
Tandem Accounting Chartered Accountants 17 Heathville Road London N19 3AL
THE PCC OF THE ECCLESIASTICAL PARISH OF ST LEONARD SHOREDITCH Report and Financial Statements 2022 Contents
| Page | |
|---|---|
| Legal and administrative information | 2 |
| Report of the Parochial Church Council | 3 |
| Independent Examiner's report to the Parochial Church Council | 7 |
| Statement of financial activities | 8 |
| Balance sheet | 9 |
| Notes to the financial statements | 10 |
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THE PCC OF THE ECCLESIASTICAL PARISH OF ST LEONARD SHOREDITCH Legal and Administrative Information
| Charity Name | The Parochial Church Council of | the Ecclesiastical Parish of St Leonard Shoreditch. The |
|---|---|---|
| Parish of St Leonard’s is part of the Diocese of London within the Church of England. | ||
| Charity Registration | 1139673. The Parish was registered with the Charity Commission on 5 January 2011 | |
| Principal Address | Shoreditch High Street, Shoreditch, London E1 6JN. | |
| Governing Document | Parochial Church Council Powers Measure (1956) as amended and Church Representation | |
| Rules. | ||
| Objectives | The PCC has the responsibility of cooperating with the incumbent in promoting in the | |
| ecclesiastical parish the whole mission of the church, pastoral, evangelistic, social and | ||
| ecumenical. | ||
| Members of the PCC | Incumbent | Rev’d Al Gordon |
| Other Clergy | Rev’d Mark Nelson (from May 2022) | |
| Rev’d Naomi Maxwell | ||
| Rev’d Toby Thomas (from July 2022) | ||
| Wardens | Christine Owusu-Ansah (through May 2022) | |
| John Parmiter (from May 2022) | ||
| Deborah Pritchard | ||
| Deanery Synod Representative | Lucy Johnson (through Jan 2023) | |
| Nat Pimlott | ||
| Electedmembers | Aaron Oxley (through May 2022) | |
| Philip Whitehead (LLM) | ||
| Ferida Cummings | ||
| Greta Mutlu | ||
| Elaine Nwokolo (through May 2022) | ||
| Clare Whitehead | ||
| Yvonne Tapper (from May 2022) | ||
| Sarah Louise Carter (from May 2022) | ||
| Richard Matthews (from May 2022) | ||
| Kemi Woods (from May 2022) | ||
| Kate Hardman (from May 2022) | ||
| Jes Chang (from May 2022) | ||
| Safeguarding officer | LucyJohnson | |
| Bankers | Metro Bank | |
| One Southampton Row | ||
| London WC1B 5HA | ||
| Independent | John Helm ACA | |
| Examiner | Tandem Accounting Limited | |
| 17 Heathville Road | ||
| London N19 3AL |
2
THE PCC OF THE ECCLESIASTICAL PARISH OF ST LEONARD SHOREDITCH
Report of the Parochial Church Council For the year ended 31 December 2022
The Parochial Church Council of the Parish of St Leonard’s Shoreditch (the “PCC”) submits its report and the financial statements of the PCC for the year ended 31 December 2022. The financial statements have been prepared in the format prescribed by the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP2019 (FRS102)) and the Financial Reporting Standard 102. The legal and administrative information set out earlier in this document forms part of this report.
1. Structure, Governance and Management
1.1 Trustees
SAINT
St. Leonard’s belongs to a collaboration of four parishes where the Rev’d Al Gordon is the incumbent of them all. The concept of SAINT is for those parishes to deliver ministry with a collaborative approach to content, excellence and outreach objectives, with support from a central services staff of the Parish of Hackney. Each parish is encouraged to press into the needs of their individual local parish, whilst also displaying the SAINT logo, so that people moving around East London know that the parishes operate with similar standards and values.
Responsibilities of the PCC
The Parochial Church Council (PCC) has the responsibility, with the Rector, of promoting in the parish, the whole mission of the Church, pastoral, evangelistic, social and ecumenical; maintenance, care and upkeep of the church and churchyard; financial responsibilities and duties as Charity Trustees. As a Church of England Parish, the PCC and Clergy follow the requirements of Church of England Canon Law.
The PCC consists of Clergy, Churchwardens, Diocesan Synod Representatives and Deanery Synod Representatives as exofficio members and elected lay representatives from the congregation. PCC members are elected at the APCM, having been nominated by people entitled to attend the annual meeting.
At each full meeting, the PCC received reports on Finance, Building and Churchyard, Deanery Synod, Safeguarding and other items as necessary.
Incoming Trustees receive an induction explaining both the trustee and PCC responsibilities. The induction includes a detailed discussion of the vision and objectives of the Charity.
Clergy and Church Staff
The management of the church is overseen by the PCC and delegated to Rev’d Al Gordon. During 2022, the day-to-day operations of the church were led by Rev’d Mark Nelson whose main role is to look after the internal ministries and community outreaches of the church. Other clergy in training are Curates Naomi Maxwell and Toby Thomas along with ordinands Shawn Woods and Lauren Burnett (from September 2022) whose roles are to look after the internal ministries and community outreaches of the church.
Public Benefit
The PCC members confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have regard to the Charity Commission’s general guidance on public benefit. Public benefit arises principally in the Parish of St. Leonard Shoreditch and further afield, by the provision of Public Worship Services, Worship space and charitable events, open to all, as an expression of the Christian faith.
1.2 Church Attendance
The Electoral Roll that was updated in 2022 and stood at 86 (2021 was 69). We hold 2 Services at 10am and 5pm. The average weekly attendance for 2022 was 120 (2020: 40). The church continues to stream live services at 10amThe church continues to stream live services for those that prefer to remain sheltered during the pandemic. Through our digital offerings, we have been blessed with new members that are both local and distant.
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THE PCC OF THE ECCLESIASTICAL PARISH OF ST LEONARD SHOREDITCH
Report of the Parochial Church Council For the year ended 31 December 2022
2. Activities and Strategies
St. Leonard’s objective is to bring hope to the people of East London in Jesus name, specifically in the Parish of Shoreditch. We aim to advance the Kingdom of God, introduce people to Jesus and pursue pastoral, evangelistic, educational and social ends.
3. Achievements and Performance
Worship, Groups, Services, Lighthouse, Alpha, use of space
Our worship on a Sunday morning is liturgical and our 5pm Service is more contemporary.
We also launched a Wednesday Mens bible study that run on a Wednesday morning and has 10 - 17 in attendance.
The PCC worked with Veolia and Historic England on the restoration of the Church Hall roof, masonry repairs and the replacement of toilet facilities. Additional remedial repairs/upgrades were made to the hall and kitchen, the heating, security and Nave floors for use for ministry and the community. The extensive work was completed in Autumn/Winter 2022.
Throughout 2022, St. Leonard’s provided the space for the Lighthouse Project of SAINT to serve hot lunches and we partnered with love your neighbour and local business to give away 100 hampers to the local community in December. This included businesses like Dishoom, Brokedown Palace and Oliver Spencer.
In the Summer we took a group of people to Focus, a festival where 8000 people gather in the Midlands. We had over 35 congregation members join from the Church and many members made a meaningful contribution to the running of the event.
We were happy to be able to open our door for Carols this year, it had 406 in attendance, and we managed to work with our health and safety office to increase the building capacity to 440.
4. Financial Review
4.1 Financial Activity and Financial Position
The PCC’s main sources of ongoing funding are the free will offerings of church members, lettings income from the hiring out the Church, church hall, offices, and other property investments. We rely on grants for the conservation and repair to our Grade 1 listed building. We are immensely grateful to God and to all those who gave so generously.
The Statement of Financial Activities and Balance Sheet can be found on pages 7 and 8 respectively. The Church’s reserves decreased by £62,374 during the year (2021: decreased by £63,176). The balance sheet shows total net assets of £2,296,373 (2021: £2,358,747).
In 2022 the church had a total income of £287,620 (2021: £268,492) and total expenditure of £349,994 (2021: £331,622).
All expenditure was in support of the key objectives. It is analysed into different church activities in the financial statements. Most of the spending meets more than one of the key objectives.
4.2 Reserves Policy
The PCC has examined the requirements for free reserves, i.e. those unrestricted funds not invested in tangible fixed assets. PCC policy is to not deliberately build up reserves. The 3 months requirement of free reserves is £86,000. Any reserves that may exist, result from accumulated giving at any one time. With the growing congregation, we expect the congregational giving of 2023 to bring St. Leonard’s to a balanced unrestricted reserves position. At 31 December 2022 the church had net free reserves deficit of £35,766 (2021: reserves of £25,050) as follows:
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THE PCC OF THE ECCLESIASTICAL PARISH OF ST LEONARD SHOREDITCH
Report of the Parochial Church Council For the year ended 31 December 2022
| Total reserves Less: restricted funds Less: fixed assets Free reserves Free reserves requirement: 3 month’s budgeted routine expenditure (excluding depreciation) |
2022 | 2021 £ 2,358,747 (1,492) (2,332,205) |
|---|---|---|
| £ | ||
| 2,296,373 | ||
| (1,492) | ||
| (2,330,647) | ||
| (35,766) | 25,050 86,000 |
|
| 86,000 | ||
The PCC is aware of the current reserves position and are looking at ways in which free reserves and the free reserves requirement can be brought into closer alignment.
4.3 Investment Policy
The church currently places spare funds on bank deposit.
4.4 Grants Policy
The task of deciding how to distribute grants is done by the Rector and PCC with reference to the Treasurer. Grants are awarded to organisations, church members and community members based on an evaluation of each case. All giving follows St. Leonard’s mission policy of the promotion of the Christian gospel in proclamation and social action throughout the world.
4.5 Risk assessment and mitigation
The risks which the organisation faces have been considered and measures will be implemented to ensure that appropriate systems, policies and procedures are in place to manage and mitigate the risks. Specifically, where there is financial risk this is managed by strong financial systems and controls. These risks, including health and safety and employment, are being mitigated through modern management systems and practices. As a matter of general policy, independent professional advice is taken where appropriate.
5. Plans for Future Periods
The short and medium term plan is to continue with the same objectives and activities in support of them.
After having completed the works on the Church Hall and other extensive maintenance work within the building, we are continuing our objective of taking the Church off the Heritage England Buildings at Risk Register by raising funds to repair the structure and facilities of the building.
6. 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:
-
select suitable accounting policies and apply them consistently;
-
observe the methods and principles of the Charities SORP
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any departures disclosed and explained in the financial statements; and
5
THE PCC OF THE ECCLESIASTICAL PARISH OF ST LEONARD SHOREDITCH
Report of the Parochial Church Council For the year ended 31 December 2022
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the activities of the charity will continue.
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.
7. Approval
The report of the PCC was approved by the PCC on 31 October 2023 and signed on its behalf by:
Rev’d Al Gordon Rector
6
THE PCC OF THE ECCLESIASTICAL PARISH OF ST LEONARD SHOREDITCH Report of the Independent Examiner to the Parochial Church Council of The Parish of St Leonard’s Shoreditch
I report on the financial statements of The Parish of St Leonard’s Shoreditch for the year ended 31 December 2022, set out on pages 8 to 16.
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 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 Church Council for my independent examination, for this report, or the opinions I have formed.
RESPECTIVE RESPONSIBILITIES OF CHURCH COUNCIL AND EXAMINER
The Parochial Church Council considers that an audit is not required for this period (under section 144(2) of the Charities Act 2011) and that an independent examination is needed.
It is my responsibility to:
-
Examine the accounts (under section 145 of the Act);
-
To follow the procedures laid down in the General Direction given by the Charity Commission (under section 145(5)(b) of the Act); and
-
To state whether particular matters have come to my attention.
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 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:
-
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
-
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 31 October 2023
7
THE PCC OF THE ECCLESIASTICAL PARISH OF ST LEONARD SHOREDITCH
Statement of Financial Activities For the year ended 31 December 2022
----- Start of picture text -----
Unrestricted Restricted Unrestricted Restricted
Funds Funds Total Funds Funds Total
Note 2022 2022 2022 2021 2021 2021
£ £ £ £ £ £
Income from: 2
Donations and legacies 173,763 8,693 182,456 60,474 73,862 134,336
Charitable activities 2,556 - 2,556 91 - 91
Other trading activities 41,934 - 41,934 41,268 - 41,268
Investment income 60,674 - 60,674 79,788 - 79,788
Other income - - - 13,009 - 13,009
Total Income 278,927 8,693 287,620 194,630 73,862 268,492
Expenditure on:
Maintaining Income Assets 3 29,466 - 29,466 47,199 - 47,199
Charitable activities 4 311,835 8,693 320,528 194,835 89,588 284,423
Total Expenditure 341,301 8,693 349,994 242,034 89,588 331,622
Net gains/(losses) on
investments 6 - - - (46) - (46)
Net (Expenditure)/Income (62,374) 0 (62,374) (47,450) (15,726) (63,176)
Transfers between funds - - - - - -
Other recognised gains/(losses) - - - - - -
Net movement in funds (62,374) 0 (62,374) (47,450) (15,726) (63,176)
Total funds brought forward 2,357,255 1,492 2,358,747 2,404,705 17,218 2,421,923
Total funds carried forward 2,294,881 1,492 2,296,373 2,357,255 1,492 2,358,747
----- End of picture text -----
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THE PCC OF THE ECCLESIASTICAL PARISH OF ST LEONARD SHOREDITCH
Balance Sheet As at 31 December 2022
----- Start of picture text -----
Unrestricted Restricted
Funds Funds Total Total
Note 2022 2022 2022 2021
£ £ £ £
Fixed Assets
Tangible Assets 5 4,142 - 4,142 1,558
Investments 6 2,330,647 - 2,330,647 2,330,647
2,334,789 0 2,334,789 2,332,205
Current Assets
Debtors 7 16,787 - 16,787 38,514
Cash At Bank and In Hand 21,394 1,492 22,886 33,210
38,181 1,492 39,673 71,724
Creditors - Amounts Falling Due
Within One Year 8 76,489 - 76,489 33,982
Net Current Assets (38,308) 1,492 (36,816) 37,742
Creditors - Amounts Falling Due
After More Than One Year 9 1,600 - 1,600 11,200
Net Assets 2,294,881 1,492 2,296,373 2,358,747
Represented by:
Restricted Funds 10 - 1,492 1,492 1,492
Unrestricted Income Funds 2,294,881 - 2,294,881 2,357,255
Total Funds 2,294,881 1,492 2,296,373 2,358,747
----- End of picture text -----
The financial statements were approved by the PCC on 31 October 2023 and signed on its behalf by:
Rev’d Al Gordon Rector
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THE PCC OF THE ECCLESIASTICAL PARISH OF ST LEONARD SHOREDITCH
Notes to the Financial Statements For the year ended 31 December 2022
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)). 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.
Expenditure included in Raising Funds includes amounts incurred in obtaining grants and other donations and property maintenance costs.
Charitable expenditure includes those costs in fulfilling the PCC’s principal objects, as outlined in the Report of the PCC. These include grants payable, governance costs and an apportionment of support costs.
-
Grants payable are payments made to third parties in furtherance of the PCC’s objects. In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant award. The notification gives the recipient a reasonable expectation that they will receive the grant. Grants awards that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled condition attaching to that grant is outside of the control of the PCC.
-
Governance costs comprise all costs involving the public accountability of the PCC and its compliance with regulation and good practice. These costs include costs related to the independent examination and legal fees.
10
THE PCC OF THE ECCLESIASTICAL PARISH OF ST LEONARD SHOREDITCH
Notes to the Financial Statements For the year ended 31 December 2022
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 are accounted as inalienable property unless consecrated. All expenditure incurred on consecrated or benefice buildings and moveable church furnishings, whether maintenance or improvement, is expensed within the Statement of Financial Activities.
The cost of 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.
Fixed Asset Investments
Investments are 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.
Borrowings
The PCC has one category of borrowing - concessionary loans from the Diocese of London (on which no interest is payable), which is recognised at the amount received.
Fund accounting
The funds held by the charity are either:
-
Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at the discretion of the trustees.
-
Restricted funds - these are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
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THE PCC OF THE ECCLESIASTICAL PARISH OF ST LEONARD SHOREDITCH
Notes to the Financial Statements For the year ended 31 December 2022
| 2. Income Donations and legacies Offerings and donations Income tax reclaimed Grants Charitableactivities Fee income (net of fees paid to Diocese) Other trading activities Church lettings income ChaplaincyServices Other Investments Rental income Bank Interest Other Income Insuranceclaim 3. Cost of Maintaining Income Assets 10 Hoxton Square property – running costs Clerk’s House property – running costs 36 Hoxton Square property - running costs Provision for bad debt Legal and professional |
Unrestricted Funds 2022 £ Restricted Funds 2022 £ 118,108 693 21,041 - 34,614 8,000 |
Unrestricted Funds 2022 £ Restricted Funds 2022 £ 118,108 693 21,041 - 34,614 8,000 |
Unrestricted Funds 2022 £ Restricted Funds 2022 £ 118,108 693 21,041 - 34,614 8,000 |
Total 2022 £ 118,801 21,041 42,614 182,456 2,556 39,275 2,600 59 41,934 60,645 29 60,674 - 287,620 Total 2022 £ 18,100 2,985 1,421 - 6,960 29,466 |
Total 2021 £ 22,776 (672) 112,232 134,336 91 40,401 867 - 41,268 79,312 476 79,788 13,009 268,492 Total 2021 £ 15,338 3,458 15,753 12,650 - 47,199 |
||
|---|---|---|---|---|---|---|---|
| Total | |||||||
| 2022 | |||||||
| £ | |||||||
| 173,763 | 8,693 | 182,456 | |||||
| 2,556 39,275 2,600 59 |
- - - - |
||||||
| 41,934 | 0 | 41,934 | |||||
| 60,645 29 |
- - |
||||||
| 60,674 | 0 | 60,674 | |||||
| - | - | ||||||
| 278,927 | 8,693 | 287,620 | |||||
| Unrestricted Funds 2022 £ Restricted Funds 2022 £ 18,100 - 2,985 - 1,421 - - - 6,960 - 29,466 0 |
|||||||
| Total | |||||||
| 2022 | |||||||
| £ | |||||||
| 29,466 | 0 | 29,466 | |||||
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THE PCC OF THE ECCLESIASTICAL PARISH OF ST LEONARD SHOREDITCH
Notes to the Financial Statements For the year ended 31 December 2022
4. Expenditure on Charitable Activities
| Unrestricted Funds 2022 £ Common Fund 85,200 Church Activities Upkeep of services 26,093 Evangelism 2,080 Outreach - Clergy expenses 8,755 Parishevents 3,752 Discipleship 18,456 Worship 7,924 Families and Students 255 67,315 Administration and Central Costs 46,803 Premises, Building and Maintenance 69,851 Building Restoration Costs 41,501 Governance costs 1,165 311,835 |
Unrestricted Funds 2022 £ Common Fund 85,200 Church Activities Upkeep of services 26,093 Evangelism 2,080 Outreach - Clergy expenses 8,755 Parishevents 3,752 Discipleship 18,456 Worship 7,924 Families and Students 255 67,315 Administration and Central Costs 46,803 Premises, Building and Maintenance 69,851 Building Restoration Costs 41,501 Governance costs 1,165 311,835 |
Restricted Funds 2022 £ - |
Total | Total | Total 2021 £ 41,900 1506 399 389 4,304 481 - 1,546 - 8,625 1,378 57,931 173,609 980 |
|
|---|---|---|---|---|---|---|
| 2022 | ||||||
| £ | ||||||
| 26,093 2,080 - 8,755 3,752 18,456 7,924 255 67,315 46,803 69,851 41,501 1,165 |
- - 543 - - - - - 543 0 8,150 0 - |
|||||
| 67,858 | ||||||
| 311,835 | 8,693 | 320,528 | 284,423 | |||
5. Tangible Fixed Assets
| Cost at 1 January 2022 Additions during the year Disposals during the year Cost at 31 December 2022 Depreciation at 1 January 2022 Charge for the year Disposals during the year Depreciation at 31 December 2022 Net Book Value at 31 December 2021 Net Book Value at 31 December 2022 |
PA & AV | PA & AV |
|---|---|---|
| Equipment | ||
| £ | ||
| 1,700 | ||
| 3,500 | ||
| - | ||
| 5,200 | ||
| 142 | ||
| 916 | ||
| - | ||
| 1,058 | ||
| 1,558 | ||
| 4,142 |
The church building - St Leonard’s Church, Shoreditch High Street - is a consecrated building which is used and maintained by the Parish.
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THE PCC OF THE ECCLESIASTICAL PARISH OF ST LEONARD SHOREDITCH
Notes to the Financial Statements For the year ended 31 December 2022
6. Fixed Assets Investments
| At 1 January 2022 Revaluation Disposals/redemptions At 31 December 2022 |
Shares £ 647 - - 647 |
Property £ 2,330,000 - - 2,330,000 |
Total | Total |
|---|---|---|---|---|
| £ | ||||
| 2,330,647 | ||||
| - | ||||
| - | ||||
| 2,330,647 | ||||
The church’s investment properties are:
-
10 Hoxton Square, Shoreditch, London N1 6NU. The property, which consists of several self-contained flats, is currently let on a mixture of market and below market rates.
-
The Clerks House, 118½ Shoreditch High Street, London E1 6JN. The property is let at for commercial purposes.
7. Debtors
| Prepayments Accounts receivable Rent receivable Income tax recoverable Grants receivable Other debtors |
2022 | |
|---|---|---|
| £ | ||
| 16,787 | ||
8. Creditors - Amounts Falling Due Within One Year
| Accruals Accounts payable Other Creditors Rental Deposits Held Due to Hackney Church Loan - Diocese of London |
2022 | |
|---|---|---|
| £ | ||
| 76,489 | ||
Loan - Diocese of London Area Loan of £20,000 is repayable at £800 per month beginning February 2022. No interest charged.
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THE PCC OF THE ECCLESIASTICAL PARISH OF ST LEONARD SHOREDITCH
Notes to the Financial Statements For the year ended 31 December 2022
9. Creditors - Amounts Falling Due After More Than One Year
| 2022 £ |
2021 £ |
|
|---|---|---|
| 1,600 | 11,200 | |
| 2022 | 2022 | 2021 £ |
2021 £ |
|||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| £ | ||||||||||||
| Loan - Diocese of London 10. Restricted Funds 10a Current year Special Appeal (Ukraine & Spitalfield Crypt Trust) Lighthouse Homeless and Addiction projects 10b Prior year Historic England Minor Repairs Veolia Building Grant Covid Relief Grant Homeless and Addiction projects Church Hall Grant |
At 1 January 2022 £ - - 1,492 |
Income £ Expenditure £ Transfers £ 462 (462) - 8,231 (8,231) - - - - |
1,600 | 11,200 | ||||||||
| Gains/ (losses) £ - - - |
||||||||||||
| At 31 | ||||||||||||
| December | ||||||||||||
| 2022 | ||||||||||||
| £ | ||||||||||||
| 0 | ||||||||||||
| 0 | ||||||||||||
| 1,492 | ||||||||||||
| 1,492 | 8,693 | (8,693) | 0 | 0 | 1,492 | |||||||
| At 1 January 2021 £ 14,587 - 750 1,881 - |
Income £ Expenditure £ Transfers £ 4,862 (19,449) - 64,000 (64,000) - - (750) - - (389) - 5,000 (5,000) - |
Gains/ (losses) £ - - - - - |
||||||||||
| At 31 | ||||||||||||
| December | ||||||||||||
| 2021 | ||||||||||||
| £ | ||||||||||||
| - | ||||||||||||
| - | ||||||||||||
| - | ||||||||||||
| 1,492 | ||||||||||||
| - | ||||||||||||
| 17,218 | 73,862 | (89,588) | 0 | 0 | 1,492 | |||||||
10. Restricted Funds
Descriptions of the main restricted funds are as follows:
Lighthouse – Grant received for works to the kitchen.
Historic England Minor Repairs – Grant received for repairing the church hall roof.
Veolia Building Grant – Grant received for repairing the church hall roof.
Church Hall Grant – Grant received for the repairing of the church hall roof.
Homeless and Addiction Projects – income received for the Spitalfields Crypt Trust project and other local work for homeless people.
Covid Relief Grant – A National Lottery Heritage Emergency Fund grant to help cover the costs of the heritage building during lockdown and re-openings.
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THE PCC OF THE ECCLESIASTICAL PARISH OF ST LEONARD SHOREDITCH
Notes to the Financial Statements For the year ended 31 December 2022
12. Related Party Transactions
The PCC offers some accommodation at the PCC’s investment property in Hoxton Square below commercial rent to some of our volunteers, two of whom are members of the PCC.
No members of the PCC were paid any amounts in 2022 (2021: 3 members of the PCC were paid £6,250 for engagement work on our heritage projects).
Members of the PCC and their related parties made aggregate unrestricted known donations of £15,402 (2021: £12,835) during the year.
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