Parochial Church Council of The Annunciation Bryanston Street (Registered Charity No. 1146634)
Annual Report and Financial Statements
For the year ended 31[st] December 2022
Parochial Church Council of The Annunciation Bryanston Street
Report of the Trustees For the year ended 31[st] December 2022
Clergy
Father Lincoln Harvey
Churchwardens Mr S Phillips Dr H White
Independent examiner
Simon Mee CMIIA 102 Gloucester Terrace London W2 6HP
Bankers
PCC General Account HSBC 196 Oxford Street London W1D 1NT
Investment funds
CCLA Investment Management Ltd Senator House, 85 Queen Victoria Street London EC4V 4ET
M&G (Charifund) Charity Department PO Box 9038 Chelmsford CM99 2XF
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Parochial Church Council of The Annunciation Bryanston Street
Report of the Trustees For the year ended 31[st] December 2022
(Continued)
Aims and purposes
The Annunciation’s Parochial Church Council (PCC) has the responsibility of cooperating with the incumbent, Fr Lincoln Harvey, in promoting in the ecclesiastical parish the whole mission of the Church, pastoral, evangelistic, social, and ecumenical.
Compliance
Our incumbent and the PCC have considered the Charity Commission’s guidance on public benefit, and in particular on ‘charities for the advancement of religion.’ The PCC has also complied with section 5 of the Safeguarding and Clergy Discipline Measure 2016, recognising its duty to have due regard to House of Bishops’ guidance on safeguarding children and vulnerable adults.
Reference and administrative information
The Annunciation is situated in Bryanston Street in Marble Arch, just off Oxford Street in the West End of London. It is part of the Diocese of London within the Church of England. The correspondence address is: The Annunciation Branston Street, London W1H 7AH. The Parochial Church Council of The Annunciation is a charity registered with the Charity Commission with charity number 1146634.
PCC members who have served at any time from 1st January 2022 until the date this report was approved are:
Ex Officio
Incumbent: Revd Dr Lincoln Harvey - (Chairman) Church Wardens: Mr Steve Phillips - (Vice Chairman and Standing Committee Member) Dr Helen White - (Standing Committee Member )
Elected
Members: Mrs Olufunke Ajenifuja - (Secretary & Standing Committee Member from June 2022) Mr Elyas Chowdhury Mr David de Kevern Mr Vincent Forestier - (Deanery Synod Representative) Mrs Marielle Garland - (Stood down 1[st] May 2022) Ms Maria Kastani Mr L Laino - (Stood down 1[st] May 2022) Mr Michael Mohammed - (Standing Committee member) Mr Gavin Monk Mr Simon Thwaites - (Standing Committee member to June 2022) Mrs Vladka Thwaites Mr Anthony Ugorji
Additional Parish Roles:
Treasurer Mr Majed Najjar Electoral Roll Officer: Mr Majed Najjar Director of Music: Mr Christopher Saward Children & Families Worker: Mrs Jasmine Cullingford Parish Safeguarding Officer: Mrs Jasmine Cullingford
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Parochial Church Council of The Annunciation Bryanston Street
Report of the Trustees For the year ended 31[st] December 2022
(Continued)
Structure, governance and management
The method of appointment of PCC members is set out in the Church Representation Rules. The membership of the PCC consists of the incumbent (our vicar), churchwardens, and members elected by those members of the congregation who are on the electoral roll of the church. All those who attend our services/members of the congregation are encouraged to register on the Electoral Roll and can stand for election to the PCC.
The PCC members are responsible for making decisions on all matters of general concern and importance to the parish including deciding on how the funds of the PCC are to be spent. The PCC met six times during the year. Given its wide responsibilities, the PCC also has a Standing Committee to deal with matters arising between meetings, and this met an additional five times during the year. The Standing Committee is responsible to the PCC and reports back to it regularly with matters discussed and decisions made as necessary.
Objectives and activities
The PCC is committed to enabling as many people as possible to worship at our church, to develop their faith, and to build up a sense of community within the parish of the Annunciation. The PCC maintains an overview of worship and activities throughout the parish and makes suggestions on how these can involve the many groups who live or work within our parish, as well as those visiting our neighbourhood. For example, our services and worship put faith into practice through prayer and scripture, music and sacrament, as well as preaching and teaching. We thereby try to enable ordinary people to live out their faith as part of our parish community through:
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Worship and prayer; learning about the Gospel; and developing their knowledge and trust in Jesus.
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Provision of pastoral care for people living in the parish.
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Close links with the parish VA school - Hampden Gurney CofE Primary School, and with Wetherby School
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Missionary and outreach work through community events, such as classical concerts and carol services.
The PCC is continually looking for new ways, within its capacity and resources, to build up its parish life, for example investing in our growing provision for young children and parents. To help finance such activities, the PCC makes use of its main asset, the church building, to raise income by letting part of the crypt and a section of the west end of the church under license to the Bryanston Nursery. To maintain its support both for parish activities and the letting of the church building to other community users, the parish regularly undertakes work to maintain and, where possible, enhance the church building and its facilities.
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Parochial Church Council of The Annunciation Bryanston Street
Report of the Trustees For the year ended 31[st] December 2022 (Continued)
Achievements and Performance
Worship and Prayer:
The PCC is keen to offer a range of services during the week and over the course of the year to the benefit and spiritual fulfilment of our community. For example, a spoken daily Mass during the week provides a quiet and reflective environment for worship, whilst opportunities to engage in more dramatic worship is also provided in Sung Masses on Sunday mornings and occasionally at High Feasts. Everyone is welcome to attend our regular services.
This year the church has recovered well from the impact of the global pandemic, welcoming more people into our church than in recent years, including lots of new young families. This recovery is evidenced by the successful reestablishment of our Sunday School provision, as well as significant numbers of infant baptisms through the year. In addition, thought has been given to considering how best to enable all our community to celebrate key High Feasts, with our provision on Christmas Eve, for example, being adapted so that families, including young children, could celebrate the Nativity at an early evening Crib Mass. It is pleasing to report that the new arrangements have been well received.
At present there are 177 parishioners on the Church Electoral Roll. 8 names were added during the year and 1 removed (because they moved overseas). The average weekly attendance, counted during October and recorded on the parish return to the Diocese, was 563, which included 400 people engaging with God through our work with local schools. The weekly figure is often higher, but this data is recorded during a period that includes a school half-term.
As well as our regular services, we enable our community to celebrate and thank God at the milestones of the journey through life. Through baptism we thank God for the gift of new life, through confirmation we enable people to claim their baptism promises as their own, in marriage public vows are exchanged with God’s blessing, and through funeral services friends and family express their grief and give thanks for a life now completed in this world, and commend the person to God’s gracious keeping. In 2022, we celebrated 19 baptisms, as well as seeing 7 young people confirmed by the Bishop. However, there were no weddings or funerals held in our church in 2022, although we did hold one memorial service. The church has also relaunched its work with the London Deaf Church following its disruption during the pandemic, running a successful Christmas Carol service, as well beginning to develop an annual programme of events for the Deaf Community to mark significant moments in the Christian year. The church’s work with Hampden Gurney CofE Primary School also remains at the centre of our parish life, and we continue to enjoy welcoming Wetherby School into church each Friday for their weekly assembly and act of worship. Along with Sunday School, it means around 750 children are engaged in church activities each week during term time.
Deanery Synod
The Vicar and one member of the PCC currently sits on the Deanery Synod. The synod provides the PCC with an important link between the parish and the wider structures of the church. For example, it has enabled the PCC to consider a wide range of issues, including providing an opportunity for members to hear about Eco- Church and environmental sustainability when we hosted the Synod in October.
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Parochial Church Council of The Annunciation Bryanston Street
Report of the Trustees For the year ended 31[st] December 2022
(Continued)
The Church Building
To facilitate the work of our church it is important that we maintain the fabric of the building and encourage people to visit and make use of our services. We want our church to be open to our community for private prayer as often as possible and have therefore opened the building each day during the week from 11am-3pm. Unfortunately, the building can’t always be staffed outside these times given the limits of our resources, although it is often open for longer periods when possible. We have also begun to work closely with London Town Chamber Fest to offer music concerts to the public. An initial concert at the end of the year was a great success, and a programme is now being developed for 2023. During the week the church undercroft is also used by Bryanston Nursery, which offers day care to children. After all the disruption of the pandemic, it is pleasing to see that the building has been well used in 2022.
However, the building fabric has been causing concern for some time. A detailed report on its condition was prepared by the church architect, Alex Sherratt of Matthew Lloyd Architects, after a scheduled Quinquennial inspection in November 2021. The PCC had already anticipated the need for major structural renewal, and so it is our policy to make provisions from general income in the expectation that matchfunding will be required as part of any successful funding application. Remedial work at high level has needed to continue in the interval to ensure the building remains safe. Nonetheless, it is on Historic England’s ‘At Risk” register. We therefore tried to make significant progress on restoration and development work in 2022, putting together a number of applications for financial assistance. We were grateful to Benefact Trust for a small grant towards the restoration project in 2022, but will continue to work on this project in the coming year.
Aside from the behind-the-scenes work on a major restoration/development project, we have made some modest progress with the building this year as well as undertaken remedial work to keep aspects in good working condition. We continue to make use of the “Gutter Maintenance Scheme” to ensure water runs freely from the building. The cause of a leak which damaged a toilet in the undercroft has also now been fixed, though the repair of the toilet still needs to be done following a protracted negotiation between the relevant insurance companies. We have had several walls repaired and painted, for example the back corridor, as well as getting a structural engineer to examine various cracks at high level in response to the Quinquennial Report.
However, we unexpectedly needed to begin a different repair and conservation project in 2022, following an act of vandalism on our Calvary War Memorial on the corner of Old Quebec Street. Following consultation with the Diocese of London and the War Memorials Trust, our architect produced a schedule of work which was put out to tender. A wide range of quotes were received for this specialist work, as well as correlated fundraising applications. We were delighted to be awarded a generous grant of £20,000 from the War Memorials Trust to help pay for the work once it begins. We await news other applications for the remainder of the funds, but the work is scheduled to go ahead in 2023.
We also received a condition report on our organ from Bishop’s and Son in 2022, which set out a proposed schedule of work to keep it in good order. The projected cost was estimated to be in the region of £130,000, which would require another major work in fundraising. Given the necessary restoration work to the building following the Quinquennial Report, it was decided that no further progress could be made on maintaining the organ at this time. Nonetheless, the decision will remain under review.
Pastoral Care
Fr Lincoln Harvey visits those who request pastoral support in the parish. For example, he visits those who are dying, are sick, or who seek God’s blessing on their new home. Some members of the parish are unable to attend church services, so we also offer an online service of Compline each week to enable access to anyone who wants to pray remotely.
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Parochial Church Council of The Annunciation Bryanston Street
Report of the Trustees For the year ended 31[st] December 2022
(Continued)
Volunteers
The church depends on many volunteers, who generously help run its activities. The PCC would therefore like to thank everyone who works so hard to make our church the lively and vibrant community it is. In particular we want to thank our churchwardens Dr White and Mr Phillips who work so tirelessly on our behalf and also Mr Najjar who manages the church’s accounts and its finances, as well as the church office. We are also especially grateful to the dedicated teams of Sunday School Leaders, Servers and Refreshment Teams, who generously devote time and resources to the benefit of our local community.
Mission and Evangelism
Our parish newsletter is distributed weekly to all subscribers and is also made available on the church’s website. The newsletter keeps people informed of forthcoming services and public events, as well as a prayer list for intercessions and invitations to seek pastoral care. The church also publicises events on its external noticeboards, as well as distributing flyers to the local community (including the many local hotels) for major festivals and events. The church also advertises its activities through social media channels and through its local networks, such as the parish school’s mailings.
Ecumenical Relationships
The church is a member of Churches Together in Westminster. Fr Lincoln Harvey has also established closed links with the neighbouring Rabbi at the Western Marble Arch Synagogue, with regular meetings to discuss shared matters of interest to our respective communities.
Financial Review and Reserve Policy
The total incoming resources on unrestricted funds were £176,207 with expenditure amounting to £174,951, as detailed in the financial statements. There was no gain or loss relating to investments leading to a resulting net incoming of resources of £1,256 with unrestricted funds, at 31st December 2022, totalling £197,088.
Incoming resources for 2022 have been fairly consistent with previous years. These did not however include tax claims for Gift Aid receipts or VAT refund through LPWS. Both amounts will be claimed during the 2023 financial year.
The Annunciation, made its full contribution to the Diocesan Common Fund in the year, amounting to £85,200. This contribution largely provides the stipends and housing for the clergy. The sum that the churches in the Deanery have to find is shared between the churches according to a formula that is based mainly on a head count of the congregations.
It is PCC policy to try to maintain a balance on unrestricted funds which equates to at least three months unrestricted payments. It is held to smooth out fluctuations in cash flow and to meet emergencies. The cash balance held on unrestricted (including designated) funds at the year end, together with the amounts payable to and by the PCC, was in excess of this target. Though this suggests we are on a firm financial footing after the pandemic, the aftershocks of Covid continue to be felt. Income remains pretty much flat, whilst costs continue to increase. This means that our existing budgets are under sustained pressure and the expansion of our mission and ministry continues to be frustrated. This is partly because we’re still in the process of negotiating with Bryanston Nursery to reach a financial settlement related to debts they incurred with us during the pandemic. A contingency plan was put in place in 2021 which remains until a final settlement is reached with the nursery, which is why reserves are currently at their level. It is the PCC’s hope that once a settlement is reached, monies can be used for match-funding in grant applications to address the serious issues with the building that were identified in the Quinquennial Inspection and enable us to move off Historic England’s ‘At Risk’ Register and encourage greater community use of the building through sympathetic development to improve facilities (such as providing a disabled toilet) .
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Parochial Church Council of The Annunciation Bryanston Street
Report of the Trustees For the year ended 31[st] December 2022
(Continued)
Statement of trustees’ responsibilities
The Parochial Church Council’s members are responsible for preparing accounts for each financial year that give a true and fair view of the Charity’s financial activities during the year and of its state of affairs at the end of the year. In preparing the accounts, the Trustees should follow best practice and:
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select suitable policies and apply them consistently;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed subject to any material departures disclosed and explained in the accounts;
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prepare the accounts on the going concern basis unless it is inappropriate to presume that the Charity will continue to operate.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and which enable them to ensure that the accounts comply with the Charities Act 2011. They are 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.
Independent examiner
The Parochial Church Council thanks Mr Simon Mee for taking on the role as The Annunciation’s Independent Examiner. He is a member of the Chartered Institute of Internal Auditors.
Whilst Mr Mee is a member of the congregation, he has no direct involvement with the PCC that might compromise his independence.
Approved by The Annunciation Bryanston Street PCC on 21[st] May 2023 and signed on their behalf by the Revd Dr Lincoln Harvey.
PCC Chairman
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Parochial Church Council of The Annunciation Bryanston Street
Independent Examination – Annual Report & Financial Statements for Year End 31/12/22 - Parochial Church Council, Church of the Annunciation, Bryanston Street (Registered Charity No.1146634)
The Charity Commission’s directions for an independent examination of accounts fall under the following headings:
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1- Examination & accounting thresholds
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2- Documentation
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3- Understanding the charity
- 5- Comparison with accounting records - 6- Analytical procedures - 7- Examiner’s report -
4- Accounting records
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Examination & accounting thresholds – The gross income for the year ended 2022 was less than £250k (mainly lettings income, planned giving, Gift Aid envelope donations, other donations and Culture Recovery Fund Grant).
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Under the Charities Act 2011, a charity’s accounts can be subject to independent examination rather than audit if gross income is ‘ no more than £1 million, provided that if its gross income is more than £250,000, its gross assets (fixed assets plus current assets) are £3.26 million or less’ . As the Charity’s gross income in 2022 was less than £250k and its assets were less than £3.26 million, the 2022 accounts qualify for independent examination.
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Documentation – The examination working papers which have been retained include a draft copy of the annual report and accounts (received 18 March 2023) and a copy of the end of year workbook (with worksheets for cashbook, incoming, expended and bank accounts).
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Understanding the charity – The examination included review of the draft annual report for the year ended 31/12/22 (not yet completed as of 18 March 2023).
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Accounting records – The records above were provided for examination along with relevant invoices; receipts; HSBC bank statements for 2022 for three accounts (a/cs 22426552, 20232173 and 91372858); and CCLA COIF Charities Deposit Fund 31/12/21 statements for three accounts (a/cs 816500001C, 816500002C and 816500003C).
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Comparison with accounting records – The 2022 accounts were compared to the accounting records (see 2 above) to verify the expenditure related to the work of the church, voluntary income, income from activities and asset values.
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Analytical procedures – A comparison of the 2022 to the 2021 accounts was carried out to identify any material changes between the two years that required further explanation; and, an analysis of the 2022 balance sheet was undertaken to determine if the totals were in line with the Charity’s activities in the year.
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Examiner’s report – As a result of my examination, I am generally satisfied that the accounts accurately represent the income and expenditure items in the accounting records and that the accounting records are adequately supported by documentary evidence. Further, the items in the balance sheet are appropriate and are supported by the accounting records and relevant documentary evidence.
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Crypt lettings income 2022
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The draft 2022 accounts (as of 18 March 2023) indicate that of the £125,000 contracted rent for 2022, the tenant paid £109,375 with £15,625 recorded as debt in the balance sheet.
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However, at the end of 2021 the tenant owed £12,471 in rent (after £100,000 was transferred from the tenant’s deposit of £125,000 to cover 2020 and 2021 shortfalls). The tenant’s total rent debt for 2021 and 2022 was £28,096 and I have suggested that this is the figure which should be recorded in the 2022 balance sheet (unless further drawdown from the remaining deposit has taken place).
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I understand that the Church is in discussion with the tenant regarding the rent debt and reduced deposit. I recommend that suitable commentary for how the Church is managing the risks associated with rent debt and reduced deposit is included in the 2022 annual report’s financial review.
Gift Aid received & Listed Places of Worship Scheme (LPWS) VAT refund 2022
I noted in my examination that the draft accounts did not record the receipt of Gift Aid or of an LPWS VAT refund in 2022. I understand that both will be claimed in 2023.
Examination Certificate
I agree with the contents of the examination certificate in the 2022 draft accounts i.e. there is no material misstatement in the accounts, the accounts accord with the accounting records and the accounts/accounting records are in line with the 2011 Act.
Simon Mee CMIIA Basement Flat, 102 Gloucester Terrace London W2 6HP
17 April 2023
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Parochial Church Council of The Annunciation Bryanston Street
Statement of Financial Activities For the year ended 31[st] December 2022
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| Notes | Unrestricted | Restricted | Total | Total | ||
| £ | £ | £ | £ | |||
| INCOMING RESOURCES | ||||||
| Incoming Resources from Generated | ||||||
| Funds | ||||||
| Voluntary Income | 2 | 44,467 | - | 44,467 | 68,706 | |
| Activities for Generating Funds | 3 | 129,845 | - | 129,845 | 131,509 | |
| Investment Income | 4 | 1,562 | - | 1,562 | 10 | |
| Other Incoming Resources | 5 | 333 | - | 333 | 57 | |
| ______ | ______ | ______ | ______ | |||
| 176,207 | - | 176,207 | 200,282 | |||
| ______ | ______ | ______ | ______ | |||
| RESOURCES EXPENDED | ||||||
| Cost of Generating Funds | 6 | - | - | - | 211 | |
| Charitable Expenditure | 7 | 174,951 | - | 174,951 | 85,048 | |
| Governance Costs | 8 | - | - | - | - | |
| ______ | ______ | ______ | ______ | |||
| 174,951 | - | 174,951 | 85,259 | |||
| ______ | ______ | ______ | ______ | |||
| NET (OUTGOING)/INCOMING | ||||||
| RESOURCES FOR THE YEAR | ||||||
| BEFORE TRANSFERS | 1,256 | - | 1,256 | 115,023 | ||
| Transfers | - | - | - | - | ||
| ______ | ______ | ______ | ______ | |||
| NET (OUTGOING)/INCOMING | ||||||
| RESOURCES BEFORE OTHER | ||||||
| RECOGNISED GAINS AND LOSSES | 1,256 | - | 1,256 | 115,023 | ||
| OTHER RECOGNISED GAINS | ||||||
| Unrealised Gains on Investments | 9 | - | - | - | - | |
| Realised Gains on Investments | 9 | - | - | - | - | |
| ______ | ______ | ______ | ______ | |||
| NET MOVEMENT IN FUNDS | 1,256 | - | 1,256 | 115,023 | ||
| FUND BALANCE BROUGHT | ||||||
| FORWARD AT 1ST JANUARY 2021 | 195,832 | - | 195,832 | 80,809 | ||
| ______ | ______ | ______ | ______ | |||
| FUND BALANCE CARRIED | ||||||
| FORWARD AT 31ST DECEMBER | ||||||
| 2021 | £ 197,088 ______ |
£ - ______ |
£ 197,088 ______ |
£ 195,832 ______ |
All recognised gains and losses are reflected through the statement of Financial Activities. No separate statement of Total Recognised Gains and Losses is disclosed.
All the activities reported above represent continuing operations.
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Parochial Church Council of The Annunciation Bryanston Street
Balance Sheet
As at 31[st] December 2022
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | ||
| FIXED ASSETS | ||||||
| Quoted Investments | 9 | - | - | |||
| CURRENT ASSETS | ||||||
| Debtors | 10 | 29,796 | 13,094 | |||
| Short term deposits | 127,182 | 140,910 | ||||
| Cash at Bank and in hand | 11 | 40,110 | 43,955 | |||
| ______ | ______ | |||||
| 197,088 | 197,960 | |||||
| CREDITORS: | ||||||
| Amount falling due within one year | 12 | - | (2,128) | |||
| ______ | ______ | |||||
| NET CURRENT ASSETS | 197,088 | 195,831 | ||||
| ______ | ______ | |||||
| NET ASSETS | £ | 197,088 |
£ 195,831 |
|||
| ______ | ______ | |||||
| Represented by: | ||||||
| UNRESTRICTED FUNDS | ||||||
| - General |
14 | 196,107 | 194,851 | |||
| - Designated |
14 | 981 | 981 | |||
| RESTRICTED FUNDS | 15 | - | - | |||
| __ | __ | |||||
| TOTAL FUNDS | £ 197,088 __ |
£ 195,832 __ |
Approved by the Parochial Church Council on 21[st] May 2023 and signed on their behalf.
Chairman
Treasurer
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Parochial Church Council of The Annunciation Bryanston Street
Notes to the Accounts
For the Year Ended 31[st] December 2022
1. ACCOUNTING POLICIES
(a) Basis of Accounting
The financial statements have been prepared in accordance with the Church Accounting Regulations 2006 together with applicable accounting standards and SORP 2005.
The financial statements have been prepared under the historical cost convention as modified by the inclusion of investments at market value and the revaluation of fixed assets. 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 their affiliation to another body, nor those which are informal gatherings of church members.
(b) Funds Accounting
Funds held by the PCC are:
Unrestricted Funds
General funds which can be used for PCC ordinary purposes.
Restricted Funds
Donations or grants received for a specific purpose or invited by the PCC for a specific purpose. The funds may only be expended on the specific purpose for which they were given. Any balance remaining unspent at the end of the year is carried forward as a balance on that fund.
(c) Incoming Resources
All incoming resources are accounted for gross.
Voluntary Income
Collections are recognised when received. Planned giving receivable is recognised only when received. Grants and legacies are recognised when the PCC is legally entitled to the amount due.
Income from Investments
Dividends are accounted for when due and payable. Interest entitlements are accounted for as they accrue.
All Other Income
All other income is recognised when it is receivable.
Gains and Losses on Investments
Realised gains are recognised when the investments are sold. Unrealised gains and losses are accounted for on revaluation on 31st December.
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Parochial Church Council of The Annunciation Bryanston Street
Notes to the Accounts For the Year Ended 31[st] December 2022
Continued
1. ACCOUNTING POLICIES (Continued)
(d) Resources Expended
Resources expended are accounted for on an accruals basis and are accounted for gross.
Grants
Grants and donations are accounted for when paid over, or when awarded where the award creates a binding obligation on the PCC.
Church Activities
The diocesan parish contribution is accounted for when paid. Any parish contribution unpaid at 31st December is provided for in these accounts as an operational (though not a legal) liability and is shown as a creditor in the balance sheet.
(e) Fixed Assets
Investments
Investments are stated at market value at the balance sheet date.
(f) Current Assets
Amounts owing to the PCC at 31st December in respect of fees, rents or other income are shown as debtors, less provision for amounts that may prove uncollectible.
Short-term deposits include cash held on deposit either with the CBF Church of England Funds, or at the bank.
(g)
Cashflow
The Charity has taken advantage of the exemption in Financial Reporting Standard No. 1 from the requirement to produce a cashflow statement.
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Parochial Church Council of The Annunciation Bryanston Street
Notes to the Accounts
For the Year Ended 31[st] December 2022
Continued
| 2. | VOLUNTARY INCOME | |||||
|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||
| Incoming Resources from Donors | Unrestricted | Restricted | Total | Total | ||
| £ | £ | £ | £ | |||
| Planned Giving | 19,839 | - | 19,839 | 21,283 | ||
| Gift Aid Envelopes – congregation | 2,323 | - | 2,323 | 1,320 | ||
| Open Plate | 3,856 | - | 3,856 | 3,203 | ||
| Charitable Donations | 8,061 | - | 8,061 | 909 | ||
| Wall box donations | 2,234 | - | 2,234 | 886 | ||
| Card Reader | 2,754 | - | 2,754 | 129 | ||
| Gift Aid Received | - | - | - | 7,072 | ||
| ______ | ______ | ______ | ______ | |||
| 39,067 | - | 39,067 | 34,802 | |||
| Other Voluntary Incoming Resources | ||||||
| Donations for improving the Church | - | - | - | - | ||
| Occasional grants | 1,500 | - | 1,500 | 28,000 | ||
| VAT Refund LPWS | - | - | - | 4,204 | ||
| Let for Rehearsals/Polling station | - | - | - | - | ||
| Dinners | - | - | - | - | ||
| Wetherby School | 3,900 | - | 3,900 | 1,700 | ||
| Concert | - | - | - | - | ||
| ______ | ______ | ______ | ______ | |||
| £44,467 |
£ |
- |
£44,467 |
£68,706 |
||
| ______ | ______ | ______ | ______ | |||
| 3. | ACTIVITIES FOR GENERATING FUNDS | |||||
| Fees | - | - | - | 464 | ||
| Lettings - Church crypt and gallery |
109,375 | - | 109,375 | 125,000 | ||
| - Bryanston Nursery debtor |
15,625 | - | 15,625 | 1,200 | ||
| - Tenant Insurance/Utilities |
4,845 | - | 4,845 | 4,845 | ||
| ______ | ______ | ______ | ______ | |||
| £129,845 |
£ |
- |
£129,845 |
£131,509 |
||
| ______ | ______ | ______ | ______ | |||
| 4. | INVESTMENT INCOME | |||||
| Dividends and Interest | £ 1,562 ______ |
£ - ______ |
£ 1,562 ______ |
£ 10 ______ |
||
| 5. | OTHER INCOMING RESOURCES | |||||
| Royalties and other | £ 333 ______ |
£ - ______ |
£ 333 ______ |
£ 57 ______ |
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Parochial Church Council of The Annunciation Bryanston Street
Notes to the Accounts For the Year Ended 31[st] December 2022
Continued
Unrestricted £ 6. COST OF GENERATING FUNDS Events expenses Diocesan Fees - - __ £ - _ 7. CHARITABLE ACTIVITIES Grants and donations (Note 7a) Activities directly related to work of the Church (Note 7b) Expenditure related to the Church (Note 7c) Administrative costs (Note 7d) 151 116,974 31,421 26,405 £ 174,951 (a) GRANTS AND DONATIONS Bishop of London appeal London Dioceses Lent Appeal Marylebone Church Association Churches Together - - 151 - £ 151 (b) ACTIVITIES DIRECTLY RELATED TO THE WORK OF THE CHURCH Diocesan Common Fund – Current year Diocesan Common Fund – prior years Music Clergy and Vicarage expenses Gifts for volunteers & clergy Cleaning Church presentation Sunday School Youth Choir Hospitality 85,200 - 25,323 381 490 1,771 1,769 235 - 1,805 ___ £ 116,974 |
2022 | |
|---|---|---|
15
Parochial Church Council of The Annunciation Bryanston Street
Notes to the Accounts For the Year Ended 31[st] December 2022
Continued
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| 7. | CHARITABLE ACTIVITIES (Continued) | Unrestricted | Restricted | Total | Total |
| £ | £ | £ | £ | ||
| (c) | EXPENDITURE RELATED TO CHURCH | ||||
| Plaster repairs and maintenance | 8,499 | - | 8,499 | 6,506 |
|
| Professional fees for Alterations | - | - | - | - |
|
| Major works (Heating etc) | - | - | - | - |
|
| Utilities | 8,394 | - | 8,394 | 11,026 |
|
| Insurance | 10,741 | - | 10,741 | 10,310 |
|
| Audio Visual equipment | 2,039 | - | 2,039 | 432 |
|
| Advertising cost for new clergy | - | - | - | 1,515 |
|
| Legal fees re Licence | - | - | - | 1,200 |
|
| Misc fees and charges | 610 | - | 610 | - |
|
| Other - fire services | 1,138 | - | 1,138 | 2,434 |
|
| ______ | ______ | ______ | ______ |
||
| £ 31,421 ______ |
£ - ______ |
£ 31,421 ______ |
£ 33,423 ______ |
||
| (d) | ADMINISTRATIVE COSTS | ||||
| Staff costs | 22,814 | - | 22,814 | 11,540 |
|
| Printing. Postage and stationery | 2,598 | - | 2,598 | 4,213 |
|
| Telephone, broadband and computer | 993 | - | 993 | 1,124 |
|
| Card reader | - | - | - | 1,584 |
|
| ______ | ______ | ______ | ______ |
||
| £ 26,405 |
£ - |
£ 26,405 |
£ 18,461 |
||
| ______ | ______ | ______ | ______ | ||
| 8. | GOVERNANCE COSTS | ||||
| Independent Examination | £ - |
£ - |
£ - |
£ - |
|
| ______ | ______ | ______ | ______ | ||
| 9. | FIXED ASSET INVESTMENTS | 2022 | 2021 | ||
| £ | £ | ||||
| Market value at 1st January 2022 | - | - | |||
| Additions | - | - | |||
| Disposal Proceeds | - | - | |||
| Realised Gain | - | - | |||
| Unrealised Gains | - | - | |||
| ______ | ______ | ||||
| Market Value at 31st December 2022 | £ - ______ |
£ - ______ |
16
Parochial Church Council of The Annunciation Bryanston Street
Notes to the Accounts For the Year Ended 31[st] December 2022 Continued
| 2022 | 2021 | |||
|---|---|---|---|---|
| 10. | DEBTORS | £ | £ | |
| Debtor – Bryanston Nursery – Licence Fee | 28,096 | 12,471 | ||
| Prepayments and accrued income | - | 623 | ||
| Other Debtors | 1,700 | - | ||
| ______ | ______ | |||
| £ 29,796 |
£ 13,094 |
|||
| ______ | ______ | |||
| 11. | CASH AT BANK AND IN HAND | |||
| HSBC | 40,110 | 43,810 | ||
| Petty Cash | - | 235 | ||
| ______ | ______ | |||
| £40,110 |
£44,045 |
|||
| ______ | ______ | |||
| 12. | CREDITORS | |||
| Amounts due within one year | ||||
| Accruals | - | - | ||
| Creditor - Common Fund | - | - | ||
| Other Creditors | - | 2,128 | ||
| _____ | _____ | |||
| £ - |
£ 2,128 |
|||
| _____ | _____ | |||
| 13. | COMMITMENT UNDER OPERATING LEASES | |||
| As at 31 December 2022 there are annual commitments | 2022 | . | ||
| under an operating lease as set out below | Equipment | |||
| £ | ||||
| Operating leases which expire: | ||||
| Within 1 – 2 years | - | |||
| Within 2 – 5 years | 1,435 __ |
17
Parochial Church Council of The Annunciation Bryanston Street
Notes to the Accounts For the Year Ended 31[st] December 2022
Continued
14. UNRESTRICTED FUNDS
| RESTRICTED |
|
|---|---|
| Balance B/F Transfer Income Expenditure Realised Gains Unrealised Gains |
Designated Appeal Fund £ Sub-total Designated £ General Funds £ 2022 Total £ £ 981 - £ 981 - £ 194,851 - £ 195,832 - - - - - __ - - - - _ 176,207 (174,951) - - 176,207 (174,951) - - £ 981 £981 £ 196,107 £ 197,088 ___ |
Appeal Fund £ Sub-total Designated £ £ 981 - £ 981 - - - - - __ - - - - _ £ 981 £981 ___ |
| 15. | ASSETS BETWEEN FUNDS | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted/ | 2022 | |||
| Fund | Funds | Total | |||
| £ | £ | £ | |||
| Fixed Assets Investments | - | - | - | ||
| Current Assets | 197,088 | - | 197,088 | ||
| Creditors | - | - | - | ||
| ______ | ______ | ______ | |||
| £ 197,088 ______ |
£ - ______ |
£ 197,088 ______ |
18