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2020-12-31-accounts

Charity number: 1144290

Annual report and financial statements of the Parochial Church Council for the year ended 31 December 2020

St Botolph without Aldgate

Contents

Page
Legal and administrative information 1
Trustees report 2 - 5
Independent examiners' report 7
Statement of financial activities 8
Balance sheet 9
Notes to the financial statements 10 - 16

St Botolph without Aldgate

Legal and administrative information

Parish

Charity registration number Church address

PCC members

Independent Examiner

Bankers

Saint Botolph, Aldgate and Holy Trinity, Minories

1144290 St Botolph without Aldgate Aldgate High Street London EC3N 1AB

The Revd Laura Jørgensen

Katherine Olley

Pauline Seymour Andrew Whibley

Danielle Cargill Anne Knowles

Ryuichiro (Long) Okada

Cathi Antoniou Thomas Dugdale Siân Ellis David Kennedy Anne Knowles Charles Knowles Nando Messias Katherine Olley Matthew Piper Joseph Tilley

Andrew Whibley

Grant Wells FCCA PG Lemon LLP Chartered Certified Accountants 127 High Street Hythe Kent CT21 5JJ

CAF Bank Limited 25 Kings Hill Avenue Kings Hill West Malling, Kent ME19 4JQ

Chair, Rector, ex officio

Churchwarden, ex officio to November 2020 Churchwarden, ex officio Churchwarden, ex officio from November 2020

Deanery Synod, ex officio Deanery Synod, ex officio to November 2020 Deanery Synod, ex officio from November 2020

to November 2020 to November 2020

PCC Secretary to June 2020 from November 2020

from July 2020 from November 2020 PCC Treasurer PCC Secretary from November 2020

to November 2020; PCC Secretary from June 2020 to November 2020

Page 1

St Botolph without Aldgate

Annual Report of the Parochial Church Council for the year ended 31 December 2020

The Trustees of the Parochial Church Council present their report and the financial statements for the year ended 31 December 2020. The Trustees who served during the year and up to the date of this report are listed on page 1.

Structure, governance and management

The PCC is a charity registered with the Charity Commission under number 1144290.

The PCC has the responsibility of cooperating with the incumbent, the Reverend Laura Jørgensen, in promoting in the ecclesiastical parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical. It also has management and maintenance responsibilities for the Parish Church of St Botolph-without-Aldgate, its crypts, and the adjoining Aldgate Rooms.

Members of the PCC are either ex officio or elected by the annual parochial church meeting in accordance with Church Representation Rules. The PCC is also permitted to coopt to its number two persons.

In 2020, the PCC met on 8 occasions.

Objectives and activities

St Botolph's mission statement is "St Botolph's strives to be an inclusive gateway for church and community, welcoming all, making Christ visible and challenging ourselves and others."

The PCC is committed to providing a sacred space for worship, prayer and quiet contemplation in the midst of the busyness of life. St Botolph's is an open and inclusive church and seeks to be part of the multi-layered local community of school, residents, businesses, the City, and those who pass through. We are committed to helping people understand more about the Christian faith, and to offering baptisms, weddings, funerals, memorial services, and other liturgical services for the community including carol services. In addition, we seek to be a place where all are welcome and can find help or be referred to the help that they require; this includes people with mental health difficulties, the homeless and rootless. We are committed to our Grade 1 listed building for worship and community use.

Over recent years, St Botolph's has been planning to commission and construct a new building to replace its current hall (the Aldgate Rooms). Work begins in January 2021, within the new building opening in 2022 - providing a flexible space to meet the needs of the local church, resident and business communities, as well providing financial sustainability for church growth and the development of mission and ministry.

The Coronavirus pandemic and subsequent lockdowns and restrictions meant that usual church activities had to cease and the church community spent much of 2020 online.

Page 2

St Botolph without Aldgate

Annual Report of the Parochial Church Council for the year ended 31 December 2020

Coronavirus (COVID-19) Pandemic - Timeline

Achievements and performance

Average attendance (both adults and children) at Sunday worship in 2020 prior to the first lockdown in March was 43, with an average child attendance of 11. Attendance at online services while the church building was closed ranged from 10 to 50, with an average of 25. Online sessions of the Sunday School averaged 8.

In-person services resumed between 20 September to 1 November. During this period, the average attendance was 18 (and of these an average of 2 children). During this period Sunday School remained online at 10.00 and for those who were unable to attend in person an evening discussion group and Compline was held via zoom.

There was one child baptism and two adult baptisms in 2020, but no weddings and funerals. As a result of the pandemic the two adults due to be presented at St Paul's Cathedral for confirmation on Easter Eve have yet to be confirmed.

From November, Sunday School began to be delivered in two groups - one for preschool children and the other for those of school age. This has enabled us to provide sessions and activities more targeted to each these age ranges. The preschool session follows the Diddy Disciples worship and bible storytelling resource, with a creative and playful focus.

Page 3

St Botolph without Aldgate

Annual Report of the Parochial Church Council for the year ended 31 December 2020

As a consequence of the pandemic, weekday services and school assemblies in church were paused in March. The Rector has filmed weekly assemblies for the school, watched either in class, or during school closure, at home by the children. This gave the opportunity to broaden the scope of the assemblies, for example filming outside St Paul's Cathedral and the Tower of London.

In usual times, we would provide many opportunities for the community and businesses to celebrate in worship and liturgy throughout the year. In 2020, the school's Founders Day service was held in church in February, with the Rector preaching, and the Rector led the commemoration marking the 15th anniversary of the 7/7 London Bombings at Aldgate Station. There were online children's activities for Good Friday and The First Christmas. Beating the Bounds took place online via Zoom with the Portsoken Ward Club with screensharing photographs of the route.

Additionally, pre-recorded videos were posted on the church's YouTube Channel in Holy Week, Remembrance, a daily reflection by members of the congregation during Advent and at Christmas (Carol Service, Sunday School Nativity Play, Portsoken Ward Club Carol Service followed by a zoom social time, and carols sung by St Botolph's Community Choir). The Rector led the City Churches Podcast for the Our City Together Campaign for the City of London. This included discussions about Mary Fillis from Morocco, baptised in St Botolph's in 1597, and Phyllis Wheatley, the African-American poet whose publisher was located next to the church

On 25 May in Minneapolis in the United States, George Floyd was killed by police officers, his last words being 'I can't breathe'. This led to global protests and a re-examination of the way history is selective in the stories it tells and the voices that are silenced (or absent). As part of this movement, a list of statues of slave owners circulated on social and mainstream media. John Cass's name appeared high on the list. John Cass was Alderman of Portsoken Ward, founded a school in the churchyard and has been commemorated each year in February on Founder's Day. He was on the Court of Assistants of the Royal African Company and much of his wealth came from the Slave Trade In the light of this, the PCC voted:

St Botolph regularly hosts art exhibitions and talks, however the lockdown in 2020 sadly saw some of these initiatives postponed - including planned exhibitions during London Craft Week, and for Sculpture in the City, and a major pottery exhibition and public event by Claudia Clare. Nevertheless, St Botolph's continued to be active partner with the City of London for its Aldgate in Winter festival, with the church building open for its duration for Carols and Candles, and a Christmas Cockney Singalong with Tom Carradine via Zoom, one of the highest attendances of the festival.

Page 4

St Botolph without Aldgate

Annual Report of the Parochial Church Council for the year ended 31 December 2020

Key works and achievements during the year included:

Financial review

The Coronavirus pandemic inevitably impacted St Botolph's finances in 2020.

2020 saw a reduction of 16.43% in voluntary income: understandably loose collections in the plate fell significantly by 85.07%, with planned giving through online banking increasing by 10.75%.

In readiness for work commencing on the new Aldgate Centre, the Aldgate Rooms were not hired out throughout 2020, So only income from hires also dropped significantly by 60.69%: reliant only on church hires between January and March.

Despite the impact of the pandemic on businesses, though payment of the Church Rate was reduced (a 23.78% decrease), the reduction was not as severe as had been feared.

St Botolph's aspires to pay its Common Fund to the diocese in full, however with preparations for the building project and being unable to accept hirers through most of 2020, this year's contribution was £5,000. As in previous years, the Parish benefits from the financial support and encouragement received from the diocese and also from the Aldgate Freedom Foundation. We again place on record our appreciation to these organisations for their commitment and assistance in helping us to engage in mission and ministry opportunities within our community.

Staff and Volunteers

Donna McDowell (Head of Schools and Families at St Paul's Cathedral) continued with her ordination training placement at St Botolph's.

Our Parish Administrator (Colin Setchfield), Community Development Officer (Jacqui Shearman) and Organist/Music Director (Shanna Hart), all continued in post throughout 2020. Both Colin and Shanna were placed on the Government's Coronavirus Job Retention (Furlough) Scheme for part of the year, and funding for the Parish Administrator post from November was secured through the Culture Recovery Fund for Heritage.

Page 5

St Botolph without Aldgate

Annual Report of the Parochial Church Council for the year ended 31 December 2020

The PCC wishes to express its appreciation to all who have enabled St Botolph's to remain open particularly when its buildings have been closed during 2020, particularly those who, in generously giving of their time and talents,

Statement of the Trustees' responsibilities

The Trustees of the PCC are responsible for preparing the PCC Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Law applicable to charities in England and Wales requires the PCC's Trustees to prepare financial statements for each financial year which give a true and fair view of the charity and of the incoming resources and application of resources of the charity for that year. In preparing these financial statements, the PCC's Trustees are required to:

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011 . The Trustees are also responsible for safeguarding the assets of the PCC and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report was approved by the PCC on 2021, and signed on its behalf by21 March

The Revd Laura Jørgensen Chair

Page 6

St Botolph without Aldgate

Independent examiner's report to the trustees on the unaudited financial statements of St Botolph without Aldgate.

I report on the accounts of St Botolph without Aldgate for the year ended 31 December 2020 set out on pages 2 to 16.

Respective responsibilities of trustees and independent examiner

As the charity's trustees you are responsible for the preparation of the accounts, you consider that the audit requirement of section 144(2) of the Charities Act 2011 (the 2011 Act) do not apply 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 Commission under section 145(5)(b) of the 2011 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 the General Directions given by the Charity Commission. 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 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 and fair view' and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

have not been met; or

Grant Wells FCCA Chartered Certified Accountant Independent examiner PG Lemon LLP 127 High Street Hythe Kent CT21 5JJ

Page 7

St Botolph without Aldgate

Statement of financial activities

For the year ended 31 December 2020

Unrestricted Restricted
funds
funds
Notes
£
£
Incoming and endowments
Voluntary income
2
68,494
-
Activities for generating funds
3
7,865
-
Investment income
4
2,266
-
Church activities
5
-
-
Other income
6
12,548
-
Total income
91,173
-
Expenditure
Church activities
7
125,802
-
Total expenditure
125,802
-
Net income before investment gains
)
(34,629
-
Net gains on investments
8,752
17,881
Net income
)
(25,877
17,881
Total funds brought forward
704,825
205,075
Total funds carried forward
678,948
222,956		 2020
Total
£
68,494
7,865
2,266
-
12,548
91,173
125,802
125,802
)
(34,629
26,633
)
(7,996
909,900
901,904		 2019
Total
£
50,682
23,971
2,141
1,941
838,842
917,577
382,228
382,228
535,349
50,708
586,057
323,843
909,900

The notes on pages 10 to 16 form an integral part of these financial statements.

Page 8

St Botolph without Aldgate

Balance sheet as at 31 December 2020

Notes
Fixed assets
Tangible assets
9
Investments
10
Current assets
Debtors
11
Cash at bank and in hand
Creditors: amounts falling
due within one year
12
Net current assets
Net assets
Funds
16
Restricted income funds
Unrestricted income funds
Total funds		 2020
£
£
35,680
321,128
356,808
-
546,284
546,284
)
(1,188
545,096
901,904
222,956
678,948
901,904		 2019
£
£
35,680
294,496
330,176
1,132
579,750
580,882
)
(1,158
579,724
909,900
205,075
704,825
909,900		 2019
£
£
35,680
294,496
330,176
1,132
579,750
580,882
)
(1,158
579,724
909,900
205,075
704,825
909,900
330,176
579,724
909,900
205,075
704,825
909,900

The financial statements were approved by the Parochial Church Council on 2021 and signed21 March on its behalf by

The Revd Laura Jørgensen

The notes on pages 10 to 16 form an integral part of these financial statements.

Page 9

St Botolph without Aldgate

Notes to financial statements for the year ended 31 December 2020

1. Accounting policies

The principal accounting policies are summarised below.

1.1. Basis of accounting

The financial statements are prepared under the historical cost convention and in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

St Botolph without Aldgate Parochial Church Council (the PCC) constitutes a public benefit entity as defined by FRS 102.

The trustees consider that there are no material uncertainties about the PCC's ability to continue as a going concern.

1.2. Fund accounting

The Unrestricted Funds (the General Fund and the Designated Special projects Fund) represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application to the general purposes of the PCC. Funds designated for a particular purpose by the PCC are also unrestricted but accounted for as a separate fund.

The Restricted Funds comprise amounts received from donors where their application is for a specific purpose.

1.3. Income recognition

Incoming resources from donors are recognised when received.

Planned giving is recognised only when received.

Income tax recoverable on gift aid donations is recognised when the claim has been agreed by H M Revenue & Customs.

Grants are recognosed when received from the grantor.

Income from the use of church premises is recognised when agreed and paid by the occupier. A voluntary church rate is levied on certain property in the parish and the income is recognised when received.

Income from investments is received when due and receivable.

1.4. Expenditure

All resources expended are recognised when paid and significant items of expenditure due but not paid are accrued at the balance sheet date.

1.5. Tangible fixed assets

Consecrated land and buildings and movable church furnishings

Consecrated and beneficed property is excluded from the accounts by s.10(2)(a) of the Charities Act 2011.

Moveable church furnishings are accounted as inalienable property and stated at nil amount. All expenditure incurred on such property is treated as resources expended and so written off.

Equipment used within the church premises is written off when acquired, unless of a material amount in which case it is capitalised in fixed assets and depreciated over its useful life.

Piano

Page 10

St Botolph without Aldgate

Notes to financial statements for the year ended 31 December 2020

1.6. Investments

Investments are valued at market value at 31 December.

Gains and losses on investments arise on the sale of investments and from revaluing investments to market value at the end of the year.

1.7. Current assets

Minor stocks of unsold books are not recognised as an asset.

Amounts receivable but not paid at the balance sheet date are included in current assets as debtors less any provision applicable.

2. Voluntary income

Unrestricted
funds
£
Planned giving
15,089
Income tax recoverable on planned giving
5,060
Collections at services
805
Donations, appeals, etc.
3,881
Grants receivable
43,659
68,494		 2020
Total
£
15,089
5,060
805
3,881
43,659
68,494		 2019
Total
£
13,624
4,479
5,395
8,264
18,920
50,682

Grants receivable during the year were City Burial Fund £3,170 (2019 £3,170), Aldgate Freedom Foundation £20,750 (2019 £15,750), Job Retention Sceme £7,533, Culture Recovery £11,970 and Community Development £236.

3. Activities for generating funds

Unrestricted
funds
£
Bookstall, art exhibitions and sundry
293
Aldgate Rooms and Church hire
7,508
Candle box
33
Refreshments
31
7,865		 2020
Total
£
293
7,508
33
31
7,865		 2019
Total
£
1,416
22,163
147
245
23,971

Page 11

St Botolph without Aldgate

Notes to financial statements for the year ended 31 December 2020

4.
Investment income
Unrestricted
funds
£
Investment income and bank interest receivable
2,266
2,266
5.
Church activities
Church and facility fees
6.
Other income
Unrestricted
funds
£
Parish rate
4,148
Car park rental
8,400
Special projects - Grants from Diocese
-
12,548		 2020
Total
£
2,266
2,266
2020
Total
£
-
-
2020
Total
£
4,148
8,400
-
12,548		 2019
Total
£
2,141
2,141
2019
Total
£
1,941
1,941
2019
Total
£
5,442
8,400
825,000
838,842

Page 12

St Botolph without Aldgate

Notes to financial statements for the year ended 31 December 2020

7. Charitable activities

Unrestricted
funds
£
Missionary and charitable giving donations
79
Ministry: Common fund and other contributions
-
Clergy expenses
543
Church running expenses
6,258
Church repair and maintenance
8,735
Worship supplies
653
Salaries, fees and expenses
18,881
Flowers
-
Refreshments
26
Office expenses including stationery
13,165
Bank charges
60
Other expenses
712
Special projects
72,999
Legal fees
-
Professional fees
2,503
Independent examiner's fees
1,188
125,802
8.
Staff costs
Gross salaries including national insurance
Organ expenses and stipend
Shown as:
Salaries, fees and expenses (Note 7)		 2020
Total
£
79
-
543
6,258
8,735
653
18,881
-
26
13,162
60
712
72,999
-
2,503
1,188
125,799
2020
£
18,444
437
18,881
18,881
18,881		 2019
Total
£
268
70,990
514
7,928
24,049
1,939
19,071
65
156
11,564
60
1,771
238,281
2,566
1,848
1,158
382,228
2019
£
18,435
636
19,071
19,071
19,071

Page 13

St Botolph without Aldgate

Notes to financial statements for the year ended 31 December 2020

9.
Tangible fixed assets
Piano
£
Cost
At 1 January 2020 and
At 31 December 2020
35,680
Net book values
At 31 December 2020
35,680
At 31 December 2019
35,680
10.
Fixed asset investments
Investments
£
Valuation
At 1 January 2020
294,496
Revaluations
26,632
At 31 December 2020
321,128
11.
Debtors
2020
£
Sundry debtors
-
12.
Creditors: amounts falling due
within one year
2020
£
Accruals and deferred income
1,188		 Total
£
35,680
35,680
35,680
Total
£
294,496
26,632
321,128
2019
£
1,132
2019
£
1,158

Page 14

St Botolph without Aldgate

Notes to financial statements for the year ended 31 December 2020

13. Funds

Restricted funds

Endowment Burial Ground Trust

Funding for the maintenance of the Church.

J Porter Fund

Money donated for the Crypt.

J Cook Scripture Reader Fund

Money originally established to pay for a curate and now meets honoraria for clergy.

Designated funds

Special projects

Funding from the Diocese for agreed special projects. The income through grants received and expenditure on professional fees, consultancy and salaries relate to the redevelopment of the Church Hall and Offices (The Aldgate Rooms).

These unrestricted funds appear in the following note.

Unrestricted funds
General fund
Designated Special projects
Restricted funds
Endowment Burial Ground Trust
J Porter Fund
J Cook Scripture Reader Fund		 At
01/01/20
Incoming
Outgoing Gains and
resources resources
losses
£
£
£
£
92,427
91,173
)
(52,803
8,752
612,398
-
)
(72,999
-
704,825
91,173
)
(125,802
8,752
At
01/01/20
Gains/
(losses)
£
£
64,572
4,130
111,682
10,930
28,821
2,821
205,075
17,881		 At
31/12/20
£
139,549
539,399
678,948
At
31/12/20
£
68,702
122,612
31,642
222,956

14.

15. Restricted funds

Page 15

St Botolph without Aldgate

Notes to financial statements for the year ended 31 December 2020

16. Analysis of net assets between funds

Unrestricted
Restricted
funds
funds
£
£
Fund balances at 31 December 2020 as represented by:
Tangible fixed assets
35,680
-
Investment assets
98,172
222,956
Current assets
546,284
-
Current and long term liabilities
)
(1,188
-
678,948
222,956		 Total
funds
£
35,680
321,128
546,284
)
(1,188
901,904

Page 16