## **St Mary’s Church Hornsey Rise** **End of Year Financial Statements** **Year ending 31[st] December 2020** ## **Parish of St Mary’s Church, Hornsey Rise** ## **Vicar’s Report For The Year Ending 31[st] December 2020** ## **Administrative Information** The Church of England parish of St Mary’s Hornsey Rise is part of the Deanery of Islington within the Episcopal Area of Stepney within the Diocese of London. The correspondence address is St Mary’s Vicarage, 3 Highcroft Road, London N19 3AQ. The PCC is a registered charity (No. 1150821). ## **Structure, Governance and Management** There is a Parochial Church Council (PCC) to govern the parish. 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 stand for election to the PCC. There are 57 members on the church electoral roll (as at 31[st] December 2020), an increase of 1 on the 2019 total. This increase though small reflects removal of those who have moved away, or died in 2020. ## **Objectives and Activities** St Mary’s PCC has responsibility of cooperating with the incumbent, the Reverend Tamsin Merchant, in promoting in the ecclesiastical parish the whole mission of the church – pastoral, evangelistic, social and ecumenical. The PCC is also specifically responsible for the maintenance of the Church and Hall of St Mary. Ashley Road, London N19 3AD. The PCC is committed to enabling as many people as possible to worship at our church and to become part of our parish community at St. Mary’s. The PCC maintains an overview of worship throughout the parish and makes suggestions on how our services can involve the many groups that live within our parish. Our services and worship seek to put faith into practice through prayer and scripture, music and sacrament. When planning our activities for the year, we have considered the Commission’s guidance on public benefit and, in particular, the supplementary guidance on charities for the advancement of religion. In particular, we try to enable ordinary people to live out their faith as part of our parish community through: - Worship and prayer; learning about the Gospel; and developing their knowledge and trust in Jesus. - Provision of pastoral care for people living in the parish. - Missionary and outreach work. To facilitate this work it is important that we maintain the fabric of the Church of St. Mary’s and the Church Hall. The members of St Mary’s PCC during the period 1 January – 31 December 2020 were: Reverend Tamsin Merchant (Chair), Rev Rob Merchant, Jackie Barnes (Treasurer), Shirley Harewood (Church Warden to 30 Sep 2020) Elaine Clarke (Churchwarden, from 30 Sep 2020), Joanne James (Churchwarden), Quentin Pickard (to 30 Sep 2020), Poppy Pickard (Deanery Representative), Gail Sylvester, Susan Mgbada, James Hodgkin, Suzy Lee, Fiona Usher (Lay Chair, LLM), Carole Sammy, Cheryl Bennett (from 30 Sep 2020), Faithlyn Strong (from 30 Sep 2020), Duncan Strong (from 30 Sep 2020) 6 meetings were held in the period January to December 2020: on - Covid responses: Foodbank, Open Church, Friday Night Takeaway, under the umbrella of Love Your Neighbour - Appointment of Emily Howarth as Ordinand, and a goodbye to Robyn Forsyth our intern to train for Ordination - New AV equipment and Wifi installation to enable Sunday Services to be streamed - Closure of Toddler & GAP groups during Covid - Appointments to help with food responses - Safeguarding of children, young people and vulnerable adults, Responses to changes in Richard Cloudesley Trust charity objectives, Mission, Sunday children’s groups - Buildings and infrastructure – no large building projects undertaken due to Covid _Page 2_ - Considering the church financial position and agreeing the accounts - Charitable tithe giving – and allocation of partners and shares ## **Financial Review & Reserves Policy** The PCC reviews the cash flow and financial situation of the church regularly. Total receipts on unrestricted funds were £120,997 of which £52,127 came from unrestricted voluntary donations, ongoing activities and gift aid recovery. The Church Hall and house at 6, Zoffany Street continue to be let, providing a gross income of £46,863 while St Mary’s share of the income from the former St Peter’s parish buildings amounted to £22,500. Member giving through envelopes stopped entirely, partly due to Covid, collections and standing orders was £xxxx. Total income including grants was £273,401 compared with £155,000 in 2019: the difference due to amazing gifts to our Love Your Neighbour work, which are to be spent in 2021 and building grants towards the Solar & Roof Project in the hall also to be spent in 2021. Major items of expenditure, included St Mary’s contribution to the Diocesan Common Fund which supports clergy and the work of the Church of England in London, and gifts to three Christian charities spreading the Gospel message by working for people in need around the world. The PCC continued allocating one quarter of the ‘tithe’ (10% of the unrestricted church income) to Christian initiatives in Islington. ## **Reserves Policy** The PCC is expected to establish and disclose its policy on reserves. Reserves are defined as that part of the PCC’s income that is freely available. This therefore excludes permanent or expendable endowment funds, restricted income funds, and any part of unrestricted funds which is not currently available for spending. The opinion of the PCC is that the reserves should be held at a level that will allow between one and two months’ contractual expenditure to be met at any time. This implies an uncommitted reserve of between £5,000 and £10,000. The church entered 2018 with uncommitted cash reserves (bank balances) of around £42,700. By the end of the year these had fallen to £35,000 after payment of final bills on the toilets project. Church income is such that income surpluses do not normally arise. In the event that such a circumstance does occur the PCC will consider the use of a surplus in the light of their overall financial position. ## **Approved by the PCC on 29[th] November 2021** Signed by **Revd Tamsin Merchant (Vicar)** _Page 3_ ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ST MARY’S CHURCH, HORNSEY RISE. N19** I report on the accounts for the year ended 31st December 2020 set out on pages two to six. ## **Respective responsibilities of trustees and examiner** The charity's trustees are responsible for the preparation of the accounts. The charity's trustees 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 required. 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 the independent examiner's report** 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 statements below. ## **Independent examiner's statement** In connection with my examination, no matter has come to my attention: - (1) which gives me reasonable cause to believe that, in any material respect, the requirements - to keep accounting records in accordance with Section 130 of the 2011 Act; and - to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met; or (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Rev. David M Green FCA Bod B. Rev. David M Green FCA Gowers Limited Chartered Accountants The Old School House Bridge Road Hunton Bridge Kings Langley Herts WD4 8SZ 16th November 2021 _Page 1_ ## **St Mary's Church, Hornsey Rise. N19** ## **Statement of Financial Activities** ## **For the period from 1st January 2020 to 31st December 2020** ||**Unrestricted**
**Designated**
**Restricted**
**Endowment**
**Total**
**Prior year**
**funds**
**funds**
**funds**
**funds**
**funds**
**total funds**
**_Receipts_**
Planned giving
23,154
100
—
—
23,254
24,897
Collections and other giving
13,262
1,360
251
—
14,873
9,170
Other voluntary receipts
708
55,188
79,954
—
135,851
28,027
Other trading activities
20,600
—
—
—
20,600
29,927
Gift Aid recovered
14,000
—
—
—
14,000
3,818
Investments
26,401
2,194
—
—
28,595
25,980
Other receipts
22,410
8,497
4,857
—
35,765
31,140
Receipts from church activities
460
—
—
—
460
2,404
**Total income**
**120,997**
**67,340**
**85,063**
**—**
**273,401**
**155,368**
**_Payments_**
Missionary and Charitable Giving
9,132
204
3,069
—
12,406
15,054
Parish Share
66,165
—
—
—
66,165
60,524
Clergy and Staffing costs
1,926
340
4,517
—
6,784
1,828
Church Running Expenses
25,385
5,184
9,116
—
39,685
37,257
Activities directly related to Church work
2,275
7,149
5,154
—
14,580
10,192
Hall Running Costs
4,140
—
—
—
4,140
3,785
Church Repairs & Maintenance
—
—
1,440
—
1,440
15,997
Hall Repairs & Maintenance
81
576
—
—
657
4,679
Zoffany St Costs & Charges
526
—
—
—
526
510
Zoffany St Repairs & Maintenance
4,320
—
—
—
4,320
4,236
**Total expenditure**
**113,955**
**13,454**
**23,298**
**—**
**150,708**
**154,065**
**Net income / (expenditure) resources before transfer**
**7,042**
**53,886**
**61,764**
**—**
**122,692**
**1,302**
**_Transfers_**
Gross transfers between funds – in
—
3,386
1,537
—
4,924
10,173
Gross transfers between funds – out
(1,405)
(1,537)
(1,981)
—
(4,924)
(10,173)
**Net movement in funds**
**5,637**
**55,735**
**61,320**
**—**
**122,692**
**1,302**
**_Reconciliation of funds_**
**Total funds brought forward**
**34,916**
**777,564**
**13,517**
**—**
**825,999**
**824,697**
**Total funds carried forward**
**40,553**
**833,300**
**74,838**
**—**
**948,692**
**825,999**
**_Represented by_**
Unrestricted
General fund
40,553
—
—
—
40,553
34,916
Designated
Church Interior work
—
—
—
—
—
3,778
Dedicated gifts and donations
—
1,630
—
—
1,630
1,653
GAP – Donations and eligible expenditures
—
(28)
—
—
(28)
—
Hall Renovation (starting with Holloway donation)
—
89,743
—
—
89,743
34,332
Interns – fund for interns to include grants
—
3,701
—
—
3,701
1,741
Revaluation reserves
—
39,929
—
—
39,929
39,929
Property – Zoffany St
—
698,324
—
—
698,324
696,130
Restricted
Cloudesley 400 year 'small grant'
—
—
—
—
—
(576)
Cloudesley Grant – AV system replacement
—
—
11,041
—
11,041
—
Cloudesley Initial Emergency Grant
—
—
520
—
520
—
Love your Neighbour (food bank and FNT)
—
—
37,546
—
37,546
—
RCC – Sliding Doors
—
—
7,984
—
7,984
—
Sustainability (for Islington)
—
—
17,745
—
17,745
14,093| |---|---| _Page 2_ ## **St Mary's Church, Hornsey Rise. N19** ## **Balance Sheet** ## **31st December 2020** ||||**31/12/2020**|**31/12/2019**| |---|---|---|---|---| |||||| |**Fixed assets**||||| |6 Zoffany Street|||696,130|696,130| |Link Building - endowment|||39,929|39,929| |Solar Panels|||50,753|—| |AV Equipment|||10,885|—| |||**Total Fixed assets**|**797,698**|**736,059**| |**Current assets**||||| |CAF Current Account|||3,762|3,511| |CAF Bank deposit account|||132,637|75,572| |Cash in hand|||—|10,856| |Accounts Receivable|||1,194|—| |Gift Aid to be claimed|||14,000|—| |||**Total Current assets**|**151,593**|**89,940**| |**Liabilities**||||| |Accounts Payable|||600|—| |||**Total Liabilities**|**600**|**—**| |||||| |**Net Asset surplus (deficit)**|||**948,692**|**825,999**| |||||| |**Reserves**||||| |Excess / (deficit) to date|||122,692|1,302| |Starting balances|||825,999|824.697| |||**Total Reserves**|**948,692**|**825,999**| |||**Represented by Funds**||| |||Unrestricted|40,553|34,916| |||Designated|833,300|777,564| |||Restricted|74,838|13,517| |||Endowment|—|—| |||||| |||**Total**|**948,692**|**825,999**| The financial statements were approved by the Parochial Church Council on 15th November 2021 and were signed on its behalf by: ............................................. Rev. Tamsin Merchant Rev. Tamsin Merchant _Page 3_ **St Mary's Church, Hornsey Rise. N19** ## **Analysis of income and expenditure** ## **1st January 2020 to 31st December 2020** |**_Unrestricted_**|**_Unrestricted_**|**_Designated_**|**_Restricted_**|**_Endowment_**|**_This year_**|**_Last year_**| |---|---|---|---|---|---|---| |**Receipts**||||||| |**_Planned giving_**||||||| |0101 - Gift Aid - Bank (Standing orders)|16,000|100|—|—|16,100|14,162| |0110 - Gift Aid - Envelopes|483|—|—|—|483|4,135| |0201 - Other planned giving (no Gift Aid)|6,671|—|—|—|6,671|6,600| |||||||| |**_Planned giving Totals_**|23,154|100|—|—|23,254|24,897| |**_Collections and other giving_**||||||| |0301 - Loose plate collections|934|—|—|—|934|3,243| |0501 - One-off Gift Aid gifts|9,284|1,150|200|—|10,634|2,494| |0502 - One-off Member contributions (no Gift Aid)|3,043|210|51|—|3,305|3,432| |||||||| |**_Collections and other giving totals_**|13,262|1,360|251|—|14,873|9,170| |**_Other voluntary receipts_**||||||| |0410 - Giving through church boxes|72|108|—|—|180|115| |0550 - Donations appeals etc.|262|1,480|45,154|—|46,896|6,266| |0801 - Recurring grants|379|3,600|—|—|3,979|7,275| |08A1 - Non-recurring one-off grants|(6)|50,000|34,800|—|84,793|14,371| |||||||| |**_Other voluntary receipts totals_**|708|55,188|79,954|—|135,851|28,027| |**_Other trading activities_**||||||| |0910 - Rummage sales etc.|—|—|—|—|—|161| |0911 - Garden Parties/Christmas Markets|—|—|—|—|—|70| |1230 - Church hall lettings - objectives|—|—|—|—|—|200| |1240 - Church hall lettings - fund raising|20,527|—|—|—|20,527|29,494| |1260 - Contributions to events e.g. retreats|72|—|—|—|72|—| |||||||| |**_Other trading activities totals_**|20,600|—|—|—|20,600|29,927| |**_Gift Aid recovered_**||||||| |0601 - Tax recoverable on Gift Aid|14,000|—|—|—|14,000|3,818| |||||||| |**_Gift Aid recovered Totals_**|14,000|—|—|—|14,000|3,818| |**_Investments_**||||||| |1020 - Bank and building society interest|64|—|—|—|64|105| |1030 - Rent from lands or buildings (Zoffany St)|26,336|2,194|—|—|28,531|25,875| |||||||| |**_Investments totals_**|26,401|2,194|—|—|28,595|25,980| |**_Other receipts_**||||||| |0802 - St Peter's income distribution|22,500|—|—|—|22,500|31,000| |0901 - Other funds generated|(98)|8,497|4,857|—|13,256|(5)| |1253 - GAP - Gather and Play receipts|9|0|—|—|8|145| |||||||| |**_Other receipts totals_**|22,410|8,497|4,857|—|35,765|31,140| _Page 4_ **St Mary's Church, Hornsey Rise. N19** ## **Analysis of income and expenditure** ## **1st January 2020 to 31st December 2020** |**_Unrestricted_**|**_Unrestricted_**|**_Designated_**|**_Restricted_**|**_Endowment_**|**_This year_**|**_Last year_**| |---|---|---|---|---|---|---| |**_Receipts from church activities_**||||||| |1101 - Fees to LDF for weddings and funerals|398|—|—|—|398|1,059| |1105 - Fees to PCC|(41)|—|—|—|(41)|1,118| |1250 - Catering income|103|—|—|—|103|227| |||||||| |**_Receipts from church activities totals_**|460|—|—|—|460|2,404| |**Receipts Grand totals**|120,997|67,340|85,063|—|273,401|155,368| |||||||| |||||||| |||||||| |**Payments**||||||| |**_Missionary and Charitable Giving_**||||||| |1801 - Giving to missionary societies|7,775|—|—|—|7,775|9,261| |1830 - Giving - relief and development agencies|—|—|—|—|—|240| |1850 - Home mission inc. retreat|54|181|—|—|235|2,252| |1855 - Community Projects|1,303|23|3,069|—|4,396|415| |1870 - Secular charities|—|—|—|—|—|2,885| |||||||| |**_Missionary and Charitable Giving totals_**|9,132|204|3,069|—|12,406|15,054| |**_Parish Share_**||||||| |1901 - Fees transmitted to diocese|1,165|—|—|—|1,165|524| |1910 - Diocese Common Fund|65,000|—|—|—|65,000|60,000| |||||||| |**_Parish Share totals_**|66,165|—|—|—|66,165|60,524| |**_Clergy and Staffing costs_**||||||| |2001 - Assistant staff costs|228|340|1,929|—|2,498|—| |2050 - Salary of parish administrator|—|—|2,530|—|2,530|—| |2101 - Working expenses of incumbent|102|—|—|—|102|94| |2102 - Clergy travel costs|30|—|—|—|30|176| |2130 - Parsonage house expenses|597|—|—|—|597|419| |2140 - Water rates - vicarage|335|—|—|—|335|658| |2150 - Vicar's telephone & internet|630|—|57|—|688|480| |||||||| |**_Clergy and Staffing costs totals_**|1,926|340|4,517|—|6,784|1,828| |**_Church Running Expenses_**||||||| |2301 - Church running - insurance|7,624|—|—|—|7,624|6,513| |2302 - Bank Charges|60|—|—|—|60|60| |2305 - Computer equipment|916|—|3,292|—|4,209|884| |2310 - Church office - telephone|199|—|—|—|199|348| |2315 - Printing, stationery and publications|791|—|82|—|874|790| |2320 - Music including sound equipment|794|—|1,016|—|1,811|1,029| |2330 - Church maintenance|2,082|—|25|—|2,108|3,887| |2331 - Cleaning|3,610|—|732|—|4,342|4,017| |2340 - Sunday service costs|251|—|1,067|—|1,319|646| |2341 - Christmas expenses|545|—|—|—|545|133| |2345 - Flowers|82|—|—|—|82|399| |2350 - Upkeep of churchyard|1,016|—|—|—|1,016|2,143| |2360 - Administration|650|—|—|—|650|687| |2401 - Church running - electric|1,930|—|150|—|2,080|1,877| |2410 - Church running - gas|1,870|—|400|—|2,270|2,776| |2440 - Church running – heat and lighting repairs|1,857|5,184|2,348|—|9,389|10,562| _Page 5_ ## **St Mary's Church, Hornsey Rise. N19** ## **Analysis of income and expenditure** ## **1st January 2020 to 31st December 2020** |||**_Unrestricted_**|**_Designated_**|**_Restricted_**|**_Endowment_**|**_This year_**|**_Last year_**| |---|---|---|---|---|---|---|---| |2601 - Governance costs (Examination Fee)||1,100|—|—|—|1,100|500| |1720 - Costs of stewardship campaign||—|—|—|—|—|117| |1730 - Costs of fetes & other events||50|—|—|—|50|965| |1860 - Youth and children's work||506|—|—|—|506|4,322| |1865 - GAP - Gather and Play expenditue||86|28|—|—|115|163| |2170 - Children's and Adult Education||249|—|—|—|249|273| |2201 - Parish training inc. lay and mission||619|2,650|—|—|3,269|2,809| |2380 - Catering and social events||764|1,799|2,433|—|4,998|1,540| |2602 - Fixed Asset Depreciation||—|2,671|2,721|—|5,392|—| ||||||||| |**_Church Running Expenses totals_**||27,661|12,333|14,271|—|54,266|47,450| |**_Hall Running Costs_**|||||||| |2530 - Hall running - electricity||1,053|—|—|—|1,053|1,119| |2540 - Hall running - gas||1,849|—|—|—|1,849|2,057| |2560 - Hall running - maintenance||411|—|—|—|411|527| |2590 - Hall running - heat and lighting|repairs|826|—|—|—|826|80| ||||||||| |**_Hall Running Costs Totals_**||4,140|—|—|—|4,140|3,785| |**_Church Repairs & Maintenance_**|||||||| |2710 - Church major repairs - installation||—|—|1,440|—|1,440|15,997| ||||||||| |**_Church Repairs & Maintenance_**|**_totals_**|—|—|1,440|—|1,440|15,997| |**_Hall Repairs & Maintenance_**|||||||| |2801 - Hall + major repairs - structure||—|—|—|—|—|2,796| |2820 - Hall + major repairs - installation||—|576|—|—|576|1,883| |2840 - Other PCC property upkeep||81|—|—|—|81|—| ||||||||| |**_Hall Repairs & Maintenance totals_**||81|576|—|—|657|4,679| |**_Zoffany St Costs & Charges_**|||||||| |2910 - curate house running costs||526|—|—|—|526|510| |2915 - Zoffany St maintenance||4,320|—|—|—|4,320|4,236| ||||||||| |**_Zoffany St Costs & Charges totals_**||4,847|—|—|—|4,847|4,747| ||||||||| |**Payments Grand totals**||113,955|13,454|23,298|—|150,708|154,065| _Page 6_