**www.spb.church**
## **THE PARISH OF ST PETER AND ST PAUL BATTERSEA Diocese of Southwark**
**Charity Registration no. 1140137**
**Annual Report & Accounts 31 December 2020**
Simply Churches Chartered Accountants
17 Heathville Road London N19 3AL
## **THE PARISH OF ST PETER AND ST PAUL BATTERSEA**
## **Report and Financial Statements 2020 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**|**11**|
_1_
## **THE PARISH OF ST PETER AND ST PAUL BATTERSEA**
**Legal and Administrative Information For the year ended 31 December 2020**
|**Charity Name**|The Parish of Battersea, St Peter and St Paul.|The Parish of Battersea, St Peter and St Paul.|
|---|---|---|
|**Principal Address**|23 Plough Road, London SW11 2DE.||
|**Charity Registration**|1140137. The PCC was registered with the Charity Commission on 1 February||
||2011.||
|**Governing Document**|Parochial Church Council Powers|Measure (1956) as amended and Church|
||Representation Rules.||
|**Objectives**|St Peter & St Paul’s PCC has the responsibility of cooperating with the Incumbent of||
||St Peter’s, the Revd Patrick Malone, in|promoting in the ecclesiastical parish the whole|
||mission of the church, pastoral, evangelistic, social and ecumenical. It also has||
||maintenance responsibilities for the St Peter’s Centre on Winstanley Road.||
|**Members of the PCC**|PCC members who served during 2020 or were serving at the date this report was||
||approved were:||
|Clergy|The Revd Patrick Malone (Vicar)||
|Wardens|Mr Ken Checinski||
||Ms Funmi Kola-Okeowo||
||Ms Clare Lyons (ex churchwarden)||
||Ms Didi Wilson (ex churchwarden)||
|Deanery Synod Representative|Mr Peter Wolstenholme||
|Elected members|Mrs Violet Simpson|Mr Peter Wolstenholme|
||Mrs Wendy Maull|Mrs Verah Gondwe|
||Ms Verona Smith|Mr Lucas Marlow|
||Mr Peter Bacon|Ms Didi Wilson (until Dec 2020)|
||Mrs Ade Osunde|Ms Clare Lyons (until Dec 2020)|
||Mr Ken Checinski|Ms Janine Shearer (until Jan 2020|
||Mrs Daphne Curate|Mr Richard Lawrence (until Sep 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,|members of the Standing Committee and the|
||Operations Manager.||
|**Bankers**|CAF Bank Ltd||
||25 Kings Hill Avenue||
||Kings Hill, West Malling||
||Kent ME19 4JQ||
|**Independent Examiner**|John Helm ACA||
||Simply Churches Ltd||
||17 Heathville Road||
||London N19 3AL||
_2_
## **THE PARISH OF ST PETER AND ST PAUL BATTERSEA**
**Report of the Parochial Church Council For the year ended 31 December 2020**
The Parochial Church Council of the Parish of St Peter and St Paul Battersea (“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. The legal and administrative information set out earlier in this document forms part of this report.
## **1. Structure, Governance & Management**
## **1.1 Trustees**
The PCC meets approximately 8 times per annum to discuss a full range of matters, both operational and strategic, relating to finance, fabric, general administration and the mission/ministries of the church. The PCC also has 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.
The method of appointment of PCC members is set out in the Church Representation rules. All church attendees are encouraged to register on the Electoral Roll and to stand for election to the PCC.
## **1.2 Church Attendance**
The Electoral Roll revised in preparation for the 2020 Annual Parochial Church Meeting (APCM) in April 2020 comprised 71 members. Average weekly church attendance has been 75 (55 adults, 20 children).
## **1.4 Risk Management**
The PCC’s primary concern and objective is the glory of God. Whilst it is the PCC’s policy to trust wholly in the Lord that He will work out His purpose to this end, the PCC also acknowledges that it has a responsibility, both as individual members and as a body of members, for the identification and proper management of risks faced by the church in achieving its primary aim. The PCC has therefore assessed the major risks to which the church 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 income, expenditure and reserve levels, by ensuring that controls exist over key financial systems, and by examining the operational risks faced by the PCC, it has established effective systems and procedures to mitigate those risks.
## **2. Activities & Strategies**
In preparing this Report, the PCC has complied with the duty in section 4 of the Charities Act 2006 to have due regard to public benefit guidance published by the Charity Commission and have sought to demonstrate that the PCC provides identifiable benefits which relate directly to its aims and which outweigh any potential detriment or harm. Further, the benefits are publicly available to all and are not in any way restricted to those able to pay. Any private benefits to members of the PCC are incidental.
To this end the PCC organises the following activities in order to enable ordinary people to live out their faith as part of our parish community:
- Sunday morning services
- Weekly community groups
- Weekly youth programs for 11-18 years old
- Weekly children’s ministry for 3-11 years old
- Weekly ladies fellowship (Life)
- Weekly night shelter (with Glass Door)
## **3. Review of the Year**
2020 has been a year of significant challenge as the church family and team grappled with the pandemic. Church ministry suddenly needed to look very different and we are hugely grateful to the staff team and volunteers who have been so flexible throughout the year.
_3_
## **THE PARISH OF ST PETER AND ST PAUL BATTERSEA**
**Report of the Parochial Church Council For the year ended 31 December 2020**
Like so many other churches, we quickly adapted to running events online, and sought ways to reach the vulnerable in our surrounding communities and within our own church family. Partnering with Love Your Neighbour was a particular highlight in this regard, as we were able to play our part in providing hot food for vulnerable residents nearby.
## **4. Financial Review**
## **4.1 Financial Activity and Financial Position**
This year returned a net operating surplus of £87k (2019: deficit of £84k).
In terms of the overall financial position, the balance sheet shows total net assets of £2,972K (2019: £2,885k). Of these funds, £807K (2019: £833k) are restricted, which mainly comprises the St Peter's Centre and funds held in the Helping Hand Fund.
## **4.2 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 income 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 £120,325 (2019: £24,528) as follows:
|**Total reserves**
Less: restricted funds
Less: tangible fixed assets
Less: fixed asset investments
**Free reserves**
**Free reserves requirement:**
6 month’s budgeted routine expenditure|**2020**|**2019**
**£**
**2,884,946**
(833,235)
(2,183)
(2,025,000)|
|
|---|---|---|---|
||**£**|||
|||||
||**2,971,974**|||
||(824,917)|||
||
(1,732)|||
||
(2,025,000)|||
|||||
|||**24,528**||
||**120,325**|||
|||||
|||**150,000**||
|||||
||**150,000**|||
|||||
|||||
The PCC is aware that the free reserves requirement is in excess of free reserves. Going forward, balanced operating budgets will be set by the PCC in order to maintain a level of free reserves which are at least equivalent to the free reserves requirement.
## **4.3 Pay Policy**
The pay of all staff, including key management personnel, is reviewed annually by the PCC. Salaried members of the PCC are excluded from the review in order to avoid any conflicts of interest. It is our expectation that we will continue to benchmark staff benefits against staff performing similar roles in similar churches/charities and will take into consideration inflation and the finances of the church at the time.
## **4.4 Investment Policy**
The church currently places spare funds on bank deposit.
## **4.5 Grants Policy**
The PCC makes annual grants, equivalent to 10% of its unrestricted income (which includes gift aid claimed back and rental/investment income), to support missionary endeavours both in the UK and abroad. The missionary societies regularly supported include International Justice Mission, Church Mission Society in Brazil (Mark & Jess Simpson), Regenerate, Battersea Welcomes Refugees and Open Doors. In addition, the PCC makes anonymous love gifts, at the discretion of the leadership, to those in need within the church fellowship. At the end of 2020 the PCC agreed to pause 10% mission giving policy until the deficit has been reduced sufficiently. This is due to be reviewed in 2021.
_4_
## **THE PARISH OF ST PETER AND ST PAUL BATTERSEA**
**Report of the Parochial Church Council For the year ended 31 December 2020**
## **5. Plans for Future Periods**
The church moved into our new building in November 2019. We intend to continue to work towards our vision of loving God, being family & bringing hope in Battersea & beyond, through the full range of church ministries (see above) and look to grow now we are in our new building. We are also planning the dedication of the building to allow for Weddings to take place.
## **6. Post Balance Sheet event and going concern consideration**
Each year it’s the PCC’s responsibility to state whether or not the annual accounts have been drawn up on a going concern basis (see the accounting policy note on page 10). 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.
Clearly, as part of this year’s going concern review, the PCC has had to consider the ongoing impact of the COVID-19 pandemic on its ministry. It has noted that while the pandemic had an impact on the churches ability to raise funds in 2020, its spending was much more significantly reduced due to the restrictions on running in-person ministry. While these restrictions are no cause for celebration, this did result in a net surplus at year-end. In turn this has contributed to an increase in free reserves which is of considerable reassurance to the PCC.
The PCC also notes that voluntary giving has decreased towards the end of 2020 and into 2021, and that the ongoing settlement payments from the building’s developer will shortly be coming to an end. In view of these two facts, the PCC will need to plan effectively in order to maintain a balanced budget in 2022 and beyond.
Accordingly, it has concluded that it is appropriate to prepare the 2020 Accounts on a going-concern basis. The PCC will continue to keep the longer-term impact of the pandemic under review and in particular, the 'degree of return to normality' will be actively monitored in the latter part of 2021 and into 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 PCC and of the income and application of income of the charity for that period.
In preparing those financial statements, the PCC is required to:
- 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
- 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.
_5_
## **THE PARISH OF ST PETER AND ST PAUL BATTERSEA**
**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 29 November 2021 and signed on its behalf by:
## **The Revd Patrick Malone Chairman**
_6_
## **THE PARISH OF ST PETER AND ST PAUL BATTERSEA**
## **Report of the Independent Examiner to the Parochial Church Council of The Parish of St Peters Battersea**
I report on the accounts of the Parochial Church Council of St Peter and St Paul Battersea for the year ended 31 December 2020, which are set out on pages 8 to 19.
## _**Respective responsibilities of PCC and examiner**_
The PCC are responsible for the preparation of the accounts. The PCC consider that an audit is not required for this year (under section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is needed.
It is my responsibility to:
- examine the accounts (under section 145 of the 2011 Act);
- to follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the 2011 Act); and
- to state whether particular matters have come to my attention.
## _**Basis of independent examiners’ report**_
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and the seeking of explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, no opinion is given as to whether the accounts present a ‘true an fair view’ and the report is limited to those matters set out in the statement below.
## _**Independent examiners’ statement**_
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the church as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
## **John Helm ACA**
29 November 2021
_7_
## **THE PARISH OF ST PETER AND ST PAUL BATTERSEA**
## **Statement of Financial Activities For the year ended 31 December 2020**
|**Note**
**Income from:**
2
Donations and legacies
Charitable activities
Other trading activities
Investments
Other
**Total Income**
**Expenditure on:**
Raising funds
3
Charitable activities
4
**Total expenditure**
Net gains/(losses) on investments
**Net income/(expenditure)**
5
Transfers between funds
Other recognised gains and losses
**Net movement in funds**
**Total funds brought forward**
**Total funds carried forward**
|**Unrestricted**
**Funds**
**2020**
**£**
79,898
335
6,550
145,324
115,000|**Restricted**
**Funds**
**2020**
**£**
900
-
-
3
-
**903**
7,014
2,207
**9,221**
-
**(8,318)**
-
-
**(8,318)**
**833,235**
**824,917**||**Unrestricted**
**Funds**
**2019**
**£**
84,603
4,878
880
147,669
126,140||**Restricted**
**Funds**
**2019**
**£**
300
-
-
6
-
**306**
8,493
11,479
**19,972**
-
**(19,666)**
(2,125)
-
**(21,791)**
**855,026**
**833,235**|**Total**
**2019**
**£**
84,903
4,878
880
147,675
126,140|
|---|---|---|---|---|---|---|---|
||||**Total**|||||
||||**2020**|||||
||||**£**|||||
|||||||||
||||80,798|||||
||||335|||||
||||6,550|||||
||||145,327|||||
||||115,000|||||
|||||||||
||**347,107**|||**364,170**|||**364,476**|
||||**348,010**|||||
|||||||||
||21,664
230,097
**251,761**
**95,346**
-
-
**95,346**
**2,051,711**
**2,147,057**|||22,770
330,373|||31,263
341,852|
|||||||||
||||28,678|||||
||||232,304|||||
|||||||||
|||||**353,143**|||**373,115**|
||||**260,982**|||||
|||||||||
|||||(75,000)|||(75,000)|
|||||||||
|||||||||
|||||**(63,973)**|||**(83,639)**|
||||**87,028**|||||
|||||||||
|||||2,125
-|||-
-|
||||-|||||
||||-|||||
|||||||||
|||||**(61,848)**|||**(83,639)**|
||||**87,028**|||||
|||||||||
|||||**2,113,559**|||**2,968,585**|
||||**2,884,946**|||||
|||||||||
|||||**2,051,711**|||**2,884,946**|
||||**2,971,974**|||||
|||||||||
|||||||||
_8_
## **THE PARISH OF ST PETER AND ST PAUL BATTERSEA**
## **Balance Sheet For the year ended 31 December 2020**
|**Note**
**Fixed Assets**
Tangible Assets
6
Investments
7
**Current Assets**
Debtors
8
Cash At Bank And In Hand
**Creditors - Amounts Falling Due**
**Within One Year**
9
**Net Current Assets**
**Net Assets**
**Represented By:**
Restricted Funds
10
Unrestricted Income Funds
**Total Funds**|**Unrestricted**
**Funds**
**2020**
**£**
1,732
2,025,000
2,026,732
14,529
146,685
161,214
40,889
120,325
**2,147,057**
-
2,147,057
**2,147,057**|**Restricted**
**Funds**
**2020**
**£**
-
806,603
806,603
-
18,314
18,314
-
18,314
**824,917**
824,917
-
**824,917**|||**Total**
**2019**
**£**|
|
|---|---|---|---|---|---|---|
||||**Total**||||
||||**2020**||||
||||**£**||||
||||||||
||||1,732||2,183||
||||2,831,603||2,838,617||
||||||||
||||||||
||||
2,833,335||2,840,800||
||||||||
||||14,529||18,005||
||||164,999||67,659||
||||||||
||||||||
||||
179,528||85,664||
||||||||
||||40,889||41,518||
||||||||
||||||||
||||138,639||44,146||
||||||||
||||||||
||||||||
||||**2,971,974**||**2,884,946**||
||||||||
||||||||
||||||||
||||||||
||||824,917||833,235||
||||2,147,057||2,051,711||
||||||||
||||||**2,884,946**||
||||**2,971,974**||||
||||||||
||||||||
The financial statements were approved by the PCC on 29 November 2021 and signed on its behalf by:
## **Peter Bacon Treasurer**
_9_
## **THE PARISH OF ST PETER AND ST PAUL BATTERSEA**
## **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 leasehold 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 audit/examination and legal fees.
The PCC contributes to certain employees' personal pension plans. These are defined contribution schemes, the assets of which are held separately from those of the charity. The cost in the accounts is the amount of contributions paid and payable during the year.
_10_
## **THE PARISH OF ST PETER AND ST PAUL BATTERSEA**
## **Notes to the Financial Statements For the year ended 31 December 2020**
## **1. Accounting Policies (continued)**
Rentals under operating leases are charged as incurred over the term of the lease.
## **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.
## _Other Fixtures, Fittings & Office Equipment_
The cost of other furniture, fittings and equipment, less any expected residual value, is depreciated on a straight-line basis over the effective useful life of the asset, which has been estimated as 4 years.
## **Fixed Asset Investments**
## The church’s investments are represented by:
- the cost of the building works to the St Peters Centre at Winstanley Road, Battersea, London (phase 1 of the building project). The cost of investment is being amortised over the remaining 124 year period of the lease.
- the value, on delivery, of the three residential leasehold flats.
## **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:
- 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.
_11_
## **THE PARISH OF ST PETER AND ST PAUL BATTERSEA**
## **Notes to the Financial Statements For the year ended 31 December 2020**
## **2. Income**
|**Unrestricted**
**Funds**
**2020**
**£**
**Donations & legacies**
Offerings – planned giving & one off gifts
51,869
Offerings – collections
1,131
Income tax reclaimed
8,590
Grants
18,308
79,898
**Charitable activities**
Fee income (net)
158
Weekend away/outings/outreach events
177
335
**Other trading income**
Lettings income
6,550
**Investments**
Rental income
145,296
Bank Interest
28
145,324
**Other**
Insurance Claim
-
Phase 2 building project: liquated damages
-
Phase 2 building project: other receipts
115,000
115,000
**347,107**|**Restricted**
**Funds**
**2020**
**£**
900
-
-
-
900
-
-
0
-
-
3
3
-
-
-
0
**903**||||**Total**
**2019**
**£**
68,421
3,516
12,666
300|
|---|---|---|---|---|---|
||||**Total**|||
||||**2020**|||
||||**£**|||
|||||||
||||52,769|||
||||1,131|||
||||8,590|||
||||18,308|||
|||||||
||||||84,903
709
4,169|
||||80,798|||
|||||||
||||158|||
||||177|||
|||||||
||||||4,878
880
147,631
44|
||||335|||
|||||||
||||6,550|||
|||||||
|||||||
||||145,296|||
||||31|||
|||||||
||||||147,675
3,340
15,400
107,400|
||||145,327|||
|||||||
||||-|||
||||-|||
||||115,000|||
|||||||
||||||126,140|
||||115,000|||
|||||||
||||||**364,476**|
||||**348,010**|||
|||||||
|||||||
Grants includes £8,308 (2019: £nil) are in respect of claims made to the Job Retention Scheme, a Government funded scheme.
## **3. Expenditure on Raising Funds**
|**Unrestricted**
**Funds**
**2020**
**£**
Amortisation of investment in St Peter’s Centre
-
St Peter’s Centre running costs
4,000
Residential rental properties
Furnishing/maintenance
1,465
Management fees
7,841
Service charge
8,358
**21,664**|**Restricted**
**Funds**
**2020**
**£**
7,014
-
-
-
-
**7,014**||||**Total**
**2019**
**£**
7,014
3,365
6,444
10,622
3,818|
|---|---|---|---|---|---|
||||**Total**|||
||||**2020**|||
||||**£**|||
|||||||
||||7,014|||
||||4,000|||
|||||||
||||1,465|||
||||7,841|||
||||8,358|||
|||||||
||||||**31,263**|
||||**28,678**|||
|||||||
|||||||
_12_
**THE PARISH OF ST PETER AND ST PAUL BATTERSEA**
## **Notes to the Financial Statements For the year ended 31 December 2020**
## **4. Expenditure on Charitable Activities**
|**4. Expenditure on Charitable Activities**|||||
|---|---|---|---|---|
|**Unrestricted**
**Funds**
**2020**
**£**
**Restricted**
**Funds**
**2020**
**£**
Provision of clergy
Fairer Shares (Contribution to Southwark Diocese)
34,590
-
Clergy expenses and salaries
21,129
-
**55,719**
**0**
Church Life & Outreach
Staff costs
55,485
-
Advertising & communication
2,726
-
Alpha
-
-
Children & youth work (incl staff costs)
2,522
-
Training & resources
1,148
-
Weekend away
-
-
Other ministries
2,469
-
Community Life
-
-
Worship & upkeep of services
4,311
-
Gifts & Grants (see note 4b below)
9,600
2,207
**78,261**
**2,207**
Provision of Building and Facilities
Heat, light & water
16,907
-
Insurance
4,435
-
Maintenance & cleaning
15,414
-
St Peters Centre running costs
11,819
-
Depreciation
820
-
Phase 2 monitoring costs
-
-
Phase 2 other costs
-
-
**49,395**
**0**
Operations & Ministry Support
Staff costs
38,926
-
Printing, stationery & office supplies
1,441
-
Telephone & Broadband
1,535
-
IT costs
2,683
-
Accountancy & payroll
650
-
Other
187
-
**45,422**
**0**
Governance
Independent Examination
1,300
-
Trustee meeting expenses
-
-
**1,300**
**0**
**230,097**
**2,207**||||**Total**
**2019**
**£**
33,420
23,067|
|||**Total**|||
|||**2020**|||
|||**£**|||
||||||
|||34,590|||
|||21,129|||
||||||
|||||**56,487**
78,780
2,479
88
9,145
4,347
11,710
4,369
5,285
5,514
22,964|
|||**55,719**|||
||||||
|||55,485|||
|||2,726|||
|||-|||
|||2,522|||
|||1,148|||
|||-|||
|||2,469|||
|||-|||
|||4,311|||
|||11,807|||
||||||
|||||**144,681**
21,357
5,417
19,529
17,308
728
3,588
3,449|
|||**80,468**|||
||||||
|||16,907|||
|||4,435|||
|||15,414|||
|||11,819|||
|||820|||
|||-|||
|||-|||
||||||
|||||**71,376**
55,289
2,944
1,862
6,884
633
-|
|||**49,395**|||
||||||
|||38,926|||
|||1,441|||
|||1,535|||
|||2,683|||
|||650|||
|||187|||
||||||
|||||**67,612**
1,300
396|
|||**45,422**|||
||||||
|||1,300|||
|||-|||
||||||
|||||**1,696**|
|||**1,300**|||
||||||
|||||**341,852**|
|||**232,304**|||
||||||
||||||
_13_
**THE PARISH OF ST PETER AND ST PAUL BATTERSEA**
**Notes to the Financial Statements For the year ended 31 December 2020**
## **4. Expenditure – Charitable Activities (continued)**
## **4a Staff Costs**
In addition to the many volunteers who give their time to the church, there were 6 (2019: 8) employees whose costs are included within Expenditure on Charitable Activities above. The costs relating to their employment was as follows:
|Gross salaries
Employer National Insurance
Employment Allowance
Pension contributions
Of which the aggregate compensation made to Key Management Personnel:||**Total**||**Total**
**2019**
**£**
125,375
9,758
(3,000)
3,726
**135,859**
**32,620**|
|---|---|---|---|---|
|||**2020**|||
|||**£**|||
||||||
|||87,954|||
|||7,423|||
|||(4,000)|||
|||
2,639|||
||||||
|||**94,016**|||
||||||
|||**31,750**|||
||||||
||||||
These figures exclude the amounts paid to the Diocese for the Minister, who is half-funded by the Diocese. No employee (2019: nil) received emoluments in excess of £60,000 during the year.
## **4b Gifts & Grants**
Gifts and grants included within Expenditure on Charitable Activities are as follows:
|**Unrestricted**
**Funds**
**2020**
**£**
Gifts & grants to:
Organisations
9,600
Individuals
-
**9,600**|**Restricted**
**Funds**
**2020**
**£**
-
2,207
**2,207**||||
|---|---|---|---|---|
||||**Total**||
||||**2020**||
||||**£**||
||||||
||||||
||||9,600||
||||2,207||
||||||
||||**11,807**||
||||||
## **5. Net Income/(Expenditure)**
|This is stated after charging:
Operating lease rentals
Depreciation
Independent examination fee
Other fees to independent examiner||**2020**||**2019**|
|---|---|---|---|---|
|||**£**||**£**|
||||||
|||936||744|
|||820||728|
|||1,300||1,300|
|||500||633|
||||||
_14_
## **THE PARISH OF ST PETER AND ST PAUL BATTERSEA**
## **Notes to the Financial Statements For the year ended 31 December 2020**
## **6. 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||**Fixtures,**|
|---|---|---|
|||**fittings &**|
|||
**equipment**|
|||**£**|
||||
|||13,501|
|||369|
|||-|
||||
|||13,870|
||||
||||
|||11,318|
|||820|
|||-|
||||
|||12,138|
||||
||||
|||**1,732**|
||||
|||**2,183**|
||||
All of the fixed assets are used for charitable purposes.
## **7. Fixed Asset Investments**
|At 1 January 2020
Additions
Amortisation of lease
Revaluation|**Residential**
**Leasehold**
**Properties**
**£**
**St Peter’s**
**Centre**
**£**
2,025,000
813,617
-
-
-
(7,014)
-
-
**2,025,000**
**806,603**|||
|---|---|---|---|
|||||
||||**Total**|
||||**£**|
|||||
||||2,838,617|
||||-|
||||(7,014)|
||||-|
|||||
||||**2,831,603**|
|||||
**Residential Leasehold Properties** . In 2017 the church took delivery of 3 residential properties each with a 250 year lease as follows:
|2 bedroom flat, Parkside, 44 Fowler Close, Battersea SW11 2ES
2 bedroom flat, Parkside, 44 Fowler Close, Battersea SW11 2ES
3 bedroom flat. Parkside, 21 Plough Road, Battersea SW11 2DE|**Valuation**
**£**
650,000
650,000
725,000
**2,025,000**|
|---|---|
_15_
**THE PARISH OF ST PETER AND ST PAUL BATTERSEA**
**Notes to the Financial Statements For the year ended 31 December 2020**
## **7. Fixed Asset Investments (continued)**
**St Peter’s Centre** . The church’s investment in the St Peter’s Centre represents the cost of the building works to the St Peters Centre at Winstanley Road, Battersea, London (phase 1 of the building project), less amortisation in line with the terms of the lease (see below). The investment has been funded by third parties.
In 2012 the church agreed a lease with the London & Quadrant Housing Association for the period from 1 November 2006 to 27 May 2135, a period of 128 years, 5 months at a peppercorn rent. The cost of investment is being amortised over a period 124 years.
## **8. Debtors**
|Prepayments
Income tax recoverable
Other debtors||**2020**||**2019**
**£**
10,448
4,545
3,012
**18,005**|
|---|---|---|---|---|
|||**£**|||
||||||
|||5,539|||
|||8,590|||
|||400|||
||||||
|||**14,529**|||
||||||
## **9. Creditors - Amounts Falling Due Within One Year**
|Accruals
Independent examination
Accountancy
Fairer shares
Other creditors including taxation and social security||**2020**||**2019**
**£**
1,300
500
36,387
3,331|
|---|---|---|---|---|
|||**£**|||
||||||
|||1,300|||
|||500|||
|||36,387|||
|||2,702|||
||||||
|||||**41,518**|
|||**40,889**|||
||||||
||||||
## **10. Restricted Funds**
|**10a Current year**
Phase 1 Building Fund
Helping Hand
St Peter’s Centre Maintenance
Exercise Class
Community Art Project||**At 1**
**January**
**2020**
**£**
813,617
6,748
10,040
57
2,773
**833,235**|**Income**
**£**
**Expenditure**
**£**
**Transfers**
**£**
-
(7,014)
-
903
(2,207)
-
-
-
-
-
-
-
-
-
-
**903**
**(9,221)**
**0**|**Income**
**£**
**Expenditure**
**£**
**Transfers**
**£**
-
(7,014)
-
903
(2,207)
-
-
-
-
-
-
-
-
-
-
**903**
**(9,221)**
**0**|**Income**
**£**
**Expenditure**
**£**
**Transfers**
**£**
-
(7,014)
-
903
(2,207)
-
-
-
-
-
-
-
-
-
-
**903**
**(9,221)**
**0**|**Income**
**£**
**Expenditure**
**£**
**Transfers**
**£**
-
(7,014)
-
903
(2,207)
-
-
-
-
-
-
-
-
-
-
**903**
**(9,221)**
**0**|**Gains/**
**(losses)**
**£**
-
-
-
-
-
**0**|**At 31**|**At 31**|
|---|---|---|---|---|---|---|---|---|---|
|||||||||**December**||
||||||||||**2020**|
||||||||||**£**|
|||||||||||
||||||||||806,603|
||||||||||5,444|
||||||||||10,040|
||||||||||57|
||||||||||2,773|
|||||||||||
||||||||||**824,917**|
|||||||||||
_16_
## **THE PARISH OF ST PETER AND ST PAUL BATTERSEA**
## **Notes to the Financial Statements For the year ended 31 December 2020**
## **10. Restricted Funds (continued)**
|**10b Prior year**
Phase 1 Building Fund
Helping Hand
St Peter’s Centre Maintenance
Exercise Class
Community Art Project
Mental Health Training||**At 1**
**January**
**2019**
**£**
820,631
13,826
17,739
57
2,773
0
**855,026**|**Income**
**£**
**Expenditure**
**£**
**Transfers**
**£**
-
(7,014)
-
6
(4,959)
(2,125)
-
(7,699)
-
-
-
-
-
-
-
300
(300)
-
**306**
**(19,972)**
**(2,125)**|**Income**
**£**
**Expenditure**
**£**
**Transfers**
**£**
-
(7,014)
-
6
(4,959)
(2,125)
-
(7,699)
-
-
-
-
-
-
-
300
(300)
-
**306**
**(19,972)**
**(2,125)**|**Income**
**£**
**Expenditure**
**£**
**Transfers**
**£**
-
(7,014)
-
6
(4,959)
(2,125)
-
(7,699)
-
-
-
-
-
-
-
300
(300)
-
**306**
**(19,972)**
**(2,125)**|**Income**
**£**
**Expenditure**
**£**
**Transfers**
**£**
-
(7,014)
-
6
(4,959)
(2,125)
-
(7,699)
-
-
-
-
-
-
-
300
(300)
-
**306**
**(19,972)**
**(2,125)**|**Gains/**
**(losses)**
**£**
-
-
-
-
-
-
**0**|**At 31**|**At 31**|
|---|---|---|---|---|---|---|---|---|---|
|||||||||**December**||
||||||||||**2019**|
||||||||||**£**|
|||||||||||
||||||||||813,617|
||||||||||6,748|
||||||||||10,040|
||||||||||57|
||||||||||2,773|
||||||||||0|
|||||||||||
||||||||||**833,235**|
|||||||||||
Descriptions of the restricted funds are as follows:
**Phase 1 Building Fund** - represents the investment in, and monies held for, the cost of the construction of the St Peter's Centre.
**Helping Hand Fund** - represents monies held for support of the Battersea Poor. The transfer recognises the use of these funds for weekend away bursaries.
**St Peter’s Centre Maintenance** - represents monies held for the upkeep and maintenance of St Peter’s Centre
**Exercise Class** - represents monies held for the running of exercise classes for the local community
**Community Art Project** - represents monies received to help connect the community with the new building
## **11. 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**
**£**
558
-
**558**|
|---|---|---|---|---|
|||**£**|||
||||||
|||744|||
|||1,116|||
||||||
|||**1,860**|||
||||||
## **12. Related Party Transactions**
Because the provision by Southwark Diocese of Patrick Malone is a half post for Diocesan purposes the other half of costs relating to his provision is provided by the PCC.
The members of the PCC gave a total of £22,760 (2019: £22,750) in unrestricted offerings and donations during the year.
_17_