THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARK ST MARYLEBONE (HAMILTON TERRACE)
Diocese of London
Charity Registration Number: 1155602
Report & Accounts 31 December 2021
Tandem Accounting Chartered Accountants 17 Heathville Road London N19 3AL
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARK ST MARYLEBONE (HAMILTON TERRACE)
Report and Financial Statements 2021 Contents
| Page | |
|---|---|
| Legal and administrative information | 2 |
| Report of the Parochial Church Council | 3 |
| Independent Examiner’s report to the Parochial Church Council | 11 |
| Statement of financial activities | 12 |
| Balance sheet | 13 |
| Notes to the financial statements | 14 |
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARK ST MARYLEBONE (HAMILTON TERRACE)
Legal and Administrative Information For the year ended 31 December 2021
Charity Name
The Parochial Church Council of The Ecclesiastical Parish of St Mark St Marylebone (Hamilton Terrace).
Charity No 1155602. The Parish was established in 1847 and is a charity which was formally registered with the Charity Commission on 3 February 2014. Principal Address Hamilton Terrace, London, NW8 9UT Governing Document Parochial Church Council Powers Measure (1956) as amended and Church Representation Rules.
Objective Promoting in the ecclesiastical parish the whole mission of the Church.
Members of the PCC The Members of the PCC who served during the year or who were serving at the date of this report were:
| Clergy | Rev Kate Harrison (Chair) | |
|---|---|---|
| Churchwardens | Katherine Pitt (Vice chair) | (Deceased 1 Jan 2022) |
| Katherine Laurenson | ||
| Elected Lay | Kate McCure | (to April 2021) |
| Representatives | Edgar Rogers | (from Jan 2014) |
| Mark Jones | (to April 2021) | |
| Sally Harrison | (from May 2021 | |
| Maya Arputham | (from April 2020) | |
| Gerlinde Kathuria | (from Jan 2014) | |
| Naa-Ayeley Attoh | (from Jan 2014) | |
| Roger Bloomfield | (from April 2019) | |
| Jim Stidham | (from May 2021) | |
| Co-opted members | Penelope Harley | Secretary (to Sept 2021) |
| Ian Collins | Health & safety representative | |
| Lay Representatives to | Gladys Jusu-Sheriff | (to April 2021) |
| the Deanery Synod | Robert Tyerman |
Key Management Those in charge of directing, controlling, running and operating the Church on a day-to-day Personnel basis are the Incumbent, Church Wardens and Treasurer.
Accountant Kevin Ogilvie 13 Evelyns Close Uxbridge, UB8 3LR
Independent John Helm ACA Examiner Tandem Accounting 17 Heathville Road London N19 3AL
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARK ST MARYLEBONE (HAMILTON TERRACE)
Legal and Administrative Information For the year ended 31 December 2021
Quinquennial Paul Sharrock Inspector Thomas Ford & Partners 177 Kirkdale Sydenham London SE26 4QH
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARK ST MARYLEBONE (HAMILTON TERRACE)
Report of the Parochial Church Council For the year ended 31 December 2021
The Parochial Church Council of The Ecclesiastical Parish of St Mark St Marylebone (Hamilton Terrace) (“PCC”) submits its report and the financial statements of the PCC for the year ended 31 December 2021. The financial statements have been prepared in the format prescribed by the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP2019 (FRS102)). The legal and administrative information set out earlier in this document forms part of this report.
The PCC co-operates with the incumbent in promoting the whole mission of the Church within its Parish and beyond. It also has responsibility for the non-stipendiary staff and the maintenance of the church building and the church hall complex.
1. Structure, Governance & Management
1.1 Trustees
The PCC is a body corporate with perpetual succession. The full PCC meets around six times during the year. Outside of this, smaller working groups, such as the worship committee, meet as required. The PCC discusses a full range of matters relating to finance, fabric, general administration and responsibility for keeping of the Electoral Roll. Members of the PCC are either ex officio or elected by the Annual Parochial Church Meeting (APCM) in accordance with the Church Representation Rules.
Membership of the PCC comprises the incumbent (our vicar), churchwardens, members elected by those members of the congregation who are on the electoral roll of the church (including those elected as representatives of Deanery Synod) and co-opted members. All who attend our services are encouraged to register on the Electoral Roll and stand for election to the PCC.
PCC members are responsible for making decisions on all matters of general concern and importance to the parish including how funds are to be spent. New members receive initial training on the workings and responsibilities of the PCC.
1.2 Standing Committee
The Standing Committee, comprising the Vicar and the churchwardens, has the power to transact any urgent business of the PCC between its meetings, subject to any directives given by the PCC.
1.3 Church Attendance
The electoral roll is completely reviewed and revised once every six years but is updated every year in between. After full revision in 2021, there were 78 members on the electoral roll.
1.4 Risk Management
The PCC has a risk management strategy which comprises:
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An annual review of the risks that the PCC may face;
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The establishment of systems and procedures to mitigate those risks;
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The implementation of procedures designed to minimise any potential impact on the PCC should those risks materialise.
The PCC’s primary concern and objective is the discipling of individuals for the glory of God and promotion of the pastoral, evangelical, social and ecumenical mission of the church. The PCC acknowledges that it has a responsibility, via its individual Members and as a body of Members, to identify and properly manage the risks it faces in achieving its primary aim. The PCC has assessed the major risks to which it exposed, in particular those relating to the specific operational areas of the charity and its finances. The PCC believes that, by monitoring reserve levels, by ensuring that controls exist over key financial systems, and by examining the operational risks faced by the church, it has established effective systems and controls to mitigate those risks.
The PCC has a number of measures in place to mitigate risk, including a health and safety policy and a safeguarding policy overseen by the PCC, as well as a robust pastoral structure to deal with personnel issues. Financial risk is managed by the Treasurer and Churchwardens who report to the Vicar.
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARK ST MARYLEBONE (HAMILTON TERRACE)
Report of the Parochial Church Council For the year ended 31 December 2021
2. Activities, Strategies & Public Benefit
The PCC follows the Anglican model of authority through Holy Scripture and human reason and the tradition of the church encourages participation in sacramental worship.
-
When planning our activities for the year, we have considered the Charity Commission’s guidance on public benefit and, in particular, the supplementary guidance on charities for the advancement of religion. In particular, we aim 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.
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Provision of pastoral care for people living in the parish.
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Missionary and outreach work.
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. Mark’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 put faith into practice through prayer and scripture, music and sacrament. To facilitate this work, it is important that we maintain the fabric of the church and the church hall.
It has been particularly important this year to explore ways to bring the parish and wider community to worship through other means during periods when the church building had to close to public worship at the height of the pandemic.
3. Review of the Year
Death of Kate Pitt
Kate Pitt who was Churchwarden and Treasurer at St Marks died suddenly and unexpectedly on New Year’s Day 2022. This was a profound shock to her family and friends and the congregation at St Marks. Her funeral was held at St Marks on 21 February 2022.
The pandemic
The government guidelines as applied to churches were followed throughout the pandemic and in the phases following lockdown leading to full reopening of the church. At all times, the health of the clergy, choir, officers and congregation were a priority.
In person attendance by the congregation without a choir began in June 2021. As stages of lockdown were reduced, practice was modified to allow for the choir to sing, the positioning of the choir, for the congregation to sing and for mask wearing to become optional. Mask wearing and social distancing has continued beyond the mandatory stage and is still practiced by those who wish to continue. Tea and coffee was offered for the first time after Sunday service in September 2021, with tables outside. The common cup was reintroduced in May 2022 as an option with no intinction.
The Sunday morning service was streamed throughout on Facebook for those who either could not attend in person or preferred not to. It is intended that this will continue for the foreseeable future.
Deanery Synod
Two members of the PCC represented St Mark’s on the Deanery Synod, the parish’s link with the diocese and the wider structures of the Church as well as an important part of the national synodical process.
Pastoral Care
Pastoral care continued to be provided within the confines of Covid 19 restrictions, with provision switching to telephone or on-line where possible. The vicar is to revisit the possibility of setting up a pastoral care team once restrictions are fully lifted.
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARK ST MARYLEBONE (HAMILTON TERRACE)
Report of the Parochial Church Council For the year ended 31 December 2021
Mission, Evangelism and Outreach
Services
Parish Mass. Sunday 10.30 am. Since June 2021 in-person and streamed on Facebook throughout lockdown and continuing.
Eucharist. Each Thursday at 7pm said Eucharist from the Book of Common Prayer followed by Bible Study
Choral Evensong. 4[th] Sunday of the month.
Healing service . 2[nd] Sunday of the month.
Other Community Resources
Renew Wellbeing Café. Every Wednesday at 10 a.m. for 2hr. A community space for a variety of hobbies and activities. The activities are based around the '5 ways to wellbeing' which promote good mental and emotional health.
Coffee, Tea and Cakes - Third Saturday of the Month 10 am
Children’s provision. Since the easing of government restrictions, there have not yet been sufficient numbers to support resuming Sunday School or Little Lions. However, a children’s space has been set up in the church where children and their parents can sit and play. This began in April 2022 and has been enthusiastically welcomed.
Events
A successful Christmas Fair was held raising almost £1,000.
‘Live at St. Mark’s’ monthly concert programme was launched. ‘Have I Got Pews For You’ monthly comedy event was launched
‘Paint & Sip’ monthly art event launched
Event run in conjunction with the Metropolitan Police Safer Neighbourhood team raised funds for Ukraine
Volunteers
We are grateful to all who volunteered time and skills to keep St Mark’s alive and, once permitted, open during a hugely challenging year. This includes our churchwardens, Kate Pitt and Katherine Laurenson, members of the PCC, our readers, intercessors and servers, Evening Prayer leaders, members of our voluntary choir, those leading outreach activities and our team of gardeners and flower arrangers, led by Gerlinde Kathuria.
The Fire
On the night of January 27, 2023, the church suffered a devastating fire that gutted the entire building. Despite the lack of a building, the services have continued without missing a single week – first in the Vicarage Garden, then under a marquee in the garden, and in the Church Hall since September 2023. The team at the City of London Diocese has been a steady source of advice throughout the process, and we are grateful for the financial and advisory support of our insurers, Ecclesiastical Insurance Group. The financial support from the insurance, community and congregational donations, and letting of the Church Hall allow us to continue our mission.
More information on the rebuilding process can be found here https://www.stmarks.london/recovery
5. Achievements and Performance: Additional Reports
Music
It has now been just over a year since the 3rd and final lockdown was ended, shortly after Easter 2021. Since then, music in the church has grown incredibly fast.
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARK ST MARYLEBONE (HAMILTON TERRACE)
Report of the Parochial Church Council For the year ended 31 December 2021
The church choir itself, the main musical focus, has been improving consistently week by week, and is working at an extremely high level. Numbers are growing, average attendance is very high, and we are getting plenty of attention from professional singers wanting to deputise for our choral scholars (and even to come in and sing for free on occasion – a mark of how much people enjoy singing with us). The choir now has a presence at all major weekday festivals, as well as at our once-per-month Sunday evensongs, which switch between the traditional Anglican form of the service and a more Anglo-Catholic form with Benediction. Whilst there has been a lot going on in the church, musically, over the last year, the choir’s excellent singing week in, week out on Sunday mornings has been the thing I am most proud of.
My focus for the choir until September was simply to get everyone to gel, work together, and become a choir “family”. Once that was in place, I have worked hard to raise the level of the choir to where it is now. Special services, such as Advent Carols, Christmas Carols, the Faure Requiem (and the Durufle the year before), and our recent Holy Week extravaganza, have been wonderful occasions, and after each one I have heard from members of the congregation how much they enjoyed the music we are offering.
The choir have also performed their fair share of concerts over the last year. We started in July with our Summer concert, consisting of music based around the themes of summer and love, which had a very good attendance. We spent a day as a visiting choir at Westminster Abbey in August, too. Our November concert was possibly the highlight of the year, singing Mozart’s Requiem to a full church, alongside our in-house orchestra, Peregrine Orchestra. That was an evening that nobody involve will forget in a hurry. Our Christmas concert was a slightly more up-beat, jazzy affair, with the choir gleefully belting out Santa Claus is coming to town, and other similar tunes. The one unfortunate note is of course the cancellation of our Lent concert, the St. John Passion, due to Covid. This was of course unavoidable, and we are looking to pick up where we left off in Lent next year.
Outside of the church choir, music has also thrived. We have appointed an excellent Assistant Director of Music in Ben Mills, we have formed our own in-house orchestra, whose leaders are chosen from music colleges across London, and we have formed our own concert series, Live @ St Mark’s. We are growing our audiences steadily and are beginning to pick up a real following. We have one chamber music concert per month, one orchestral concert (sometimes with choir) every three months, an organ recital every three months, and then lunchtime concerts whenever students would like to put one on. My rule is we can accept any programme that the performers themselves want to play, but we always strive for excellence, and that has been bringing audience members back. We have an exceptional team drawn from the choir working to put all this together, with special mention to Isla Cameron, our Marketing Manager, Becky Ryland-Jones, who helps with printing and flyering and organising everything on the ground, Lowri Williams, who takes care of organising things and helping with the practical side of putting concerts on, and Jim Stidham, who is helping us with the financial side. The church is also hugely in demand for external concerts.
The aim for all these concerts is to support younger musicians, music college age and above, and to give them a platform where they can perform whatever it is they wish to. Live @ St Mark’s, Peregrine Orchestra, and our church choir (with our four choral scholars) are all helping with this initiative. Supporting the next generation of musicians is very important to me, so I am delighted with how this has been going over the last year.
Of course, finally, we must remember our dear friend Kate Pitt, who sadly passed away in January this year. She was a huge influence within the musical world of this church. She was the driving force behind the direction that Live @ St Mark’s was
taking, she helped organise absolutely everything was our point of contact for financial questions, helped set the church up for every service, brought milk in every Sunday morning for a thirsty choir, and of course was an integral part of the choir itself, both musically and socially. She was a real friend to us all. The last time she sang with us was the Sunday immediately after our Christmas Concert. I remember her smiles during the concert itself, and she was clearly very proud of how the choir were progressing. The choir for her funeral – the regular members of the choir plus past members, and singers from other groups.
Dan Collins, Director of Music
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARK ST MARYLEBONE (HAMILTON TERRACE)
Report of the Parochial Church Council For the year ended 31 December 2021
Fabric of the church and building
The church dates back to 1846–1847, it was designed by Thomas Cundy with a spire built by his son in 1864, and is Grade II* listed with Historic England. There is also an adjacent Church Hall and Cottage.
The Cottage
A notice for improvement on the cottage was served in November 2021 by Westminster City Council. Some of the works specified have now been completed and the remainder have been passed to the diocese for consideration.
The Church Hall
In April 2021 a surveyor was appointed to report on the necessary improvement works to make the church hall suitable for letting. A member of the congregation experienced in legal matters relating to property advised that up to £10,000 would be needed to address the pre-letting investigations that the surveyor recommended.
It was also recommended that a Full Repairing and Insuring Lease lasting a number of years be drawn up. This would maximise the income which could be made from the letting of the Church Hall. The PCC was subsequently informed that it is likely the necessary development works will take in the region of two years during which time the parish will lose income from the hall and possibly the cottage. Discussions with the diocese are continuing with a view to optimizing the arrangements for letting the Church Hall.
Quinquennial Inspection of the church
After a tendering process by committee, the PCC appointed John Scott, of West Scott Architects, as the Quinquennial Inspector (QI) in a PCC meeting on 18 January 2022. The last inspection took place in February 2017, and the previous QI has since retired. Costs of the inspection will be paid by the diocese while funds will need to be found for any works recommended and taken forward.
4. Financial Review
The PCC’s main sources of funding are the free will offerings of church members and others in attendance at church meetings, and income from the hiring out of the church buildings.
4.1 Financial Activity and Financial Position
The Statement of Financial Activities and Balance Sheet can be found on pages 11 and 12 respectively. The Church’s reserves increased by £64,496 during the year (2020 – decreased by £14,524). The balance sheet shows total net assets of £206,992 (2020: £142,496).
Included in total funds are amounts totalling £25,720 (2020: £26,598) which are restricted. These balances have either been raised for, and their use restricted to, specific purposes, or they comprise donations subject to donor imposed conditions. Full details of these restricted funds can be found in note 10 to the accounts together with an analysis of movements in the year.
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 2 months of operational expenditure (i.e. building running costs, but excluding Common Fund payments, mission giving and expenditure on special discretionary projects), 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 2021 the church had net free reserves of £56,088 (2020: free reserves of deficit of £9,954) as follows:
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARK ST MARYLEBONE (HAMILTON TERRACE)
Report of the Parochial Church Council For the year ended 31 December 2021
| Total reserves Less: restricted funds Less: fixed assets Free reserves Free reserves requirement: 2 month’s budgeted routine expenditure |
2021 | 2020 £ 142,496 (26,598) (125,852) |
|
|---|---|---|---|
| £ | |||
| 206,992 | |||
| (25,720) | |||
(125,184) |
|||
| 56,088 | (9,954) | ||
| 20,000 | |||
| 20,000 | |||
4.3 Investment Policy
Funds in excess of immediate working capital requirement are placed in a bank deposit account.
4.4 Grants Policy
The church made no grants during the year.
5. Plans for Future Periods
In line with the objectives outlined in the 2022 Mission Action Plan, the following objectives remain central to the PCC’s planning:
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Developing our stewardship and fundraising programme to secure the long-term future of St Mark’s, in particular considering the scope to increase use of the Parish Giving Scheme;
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Enhancing the church’s presence and visibility in the community;
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Improving the building’s accessibility and making it a safer and more useful space for the church’s own use and for the use of others;
6. Responsibilities of Trustees for the Financial Statements
The PCC is responsible for preparing the report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. Charity law in England and Wales requires the PCC to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the 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:
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select suitable accounting policies and apply them consistently;
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observe the methods and principles of the Charities SORP
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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 departures disclosed and explained in the financial statements; and
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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.
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARK ST MARYLEBONE (HAMILTON TERRACE)
Report of the Parochial Church Council For the year ended 31 December 2021
7. Approval
The report of the PCC was approved by the PCC on 5 April 2024 and signed on its behalf by:
Kate Harrison Chair
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARK ST MARYLEBONE (HAMILTON TERRACE)
Report of the Independent Examiner to the Parochial Church Council of St Mark St Marylebone (Hamilton Terrace)
I report on the accounts of the Parochial Church Council of the Ecclesiastical Parish of St Mark St Marylebone for the year ended 31 December 2021, which are set out on pages 12 to 20.
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:
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examine the accounts (under section 145 of the 2011 Act);
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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
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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 and fair view’ and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the church as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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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 Simply Churches 17 Heathville Road London N19 3AL
5 April 2024
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARK ST MARYLEBONE (HAMILTON TERRACE)
Statement of Financial Activities For the year ended 31 December 2021
| Note Income from: 2 Donations and legacies Charitable activities Other trading activities Investments Total Income Expenditure on: Raising funds 3 Charitable activities 4 Total Expenditure Net gains on investments Net expenditure 5 Transfers between funds Net movement in funds Total funds brought forward Total funds carried forward |
Unrestricted Funds 2021 £ 35,119 1,808 51,910 1 |
Restricted Funds 2021 £ 10,802 - - - 10,802 - 11,680 11,680 - ( 878) - ( 878) 26,598 25,720 |
Unrestricted Funds 2020 £ 29,882 1,928 52,749 15 |
Restricted Funds 2020 £ 30,520 - - - 30,520 - 6,000 6,000 - 24,520 (20,000) 4,520 22,078 26,598 |
Total 2020 £ 60,402 1,928 52,749 15 115,094 - 129,618 129,618 - (14,524) - (14,524) 157,020 142,496 |
||
|---|---|---|---|---|---|---|---|
| Total | |||||||
| 2021 | |||||||
| £ | |||||||
| 45,921 | |||||||
| 1,808 | |||||||
| 51,910 | |||||||
| 1 | |||||||
| 88,838 | 84,574 | ||||||
| 99,640 | |||||||
| 2,385 21,079 23,464 - 65,374 - 65,374 115,898 181,272 |
- 123,618 |
||||||
| 2,385 | |||||||
| 32,759 | |||||||
| 123,618 | |||||||
| 35,144 | |||||||
| - | |||||||
| - | |||||||
| (39,044) | |||||||
| 64,496 | |||||||
| 20,000 | |||||||
| - | |||||||
| (19,044) 134,942 |
|||||||
| 64,496 | |||||||
| 142,496 | |||||||
| 115,898 | |||||||
| 206,992 | |||||||
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARK ST MARYLEBONE (HAMILTON TERRACE)
Balance Sheet As at 31 December 2021
| Note Fixed Assets Tangible Assets 6 Current Assets Debtors 7 Cash at Bank and in Hand Creditors - Amounts Falling Due Within One Year 8 Net Current Assets Creditors - Amounts Falling Due After More Than One Year 9 Net Assets Represented by: Restricted Funds 10 Unrestricted Funds Total Funds |
Unrestricted Funds 2021 £ 125,184 18,294 71,940 90,234 4,146 86,088 30,000 181,272 - 181,272 181,272 |
Restricted Funds 2021 £ - - 25,720 25,720 - 25,720 - 25,720 25,720 - 25,720 |
Total 2020 £ 125,852 21,152 87,440 |
|||
|---|---|---|---|---|---|---|
| Total | ||||||
| 2021 | ||||||
| £ | ||||||
| 125,184 | ||||||
| 18,294 | ||||||
| 97,660 | ||||||
| 108,592 91,948 |
||||||
| 115,954 | ||||||
| 4,146 | ||||||
| 16,644 - |
||||||
| 111,808 | ||||||
| 30,000 | ||||||
| 142,496 | ||||||
| 206,992 | ||||||
| 26,598 115,898 |
||||||
| 25,720 | ||||||
| 181,272 | ||||||
| 142,496 | ||||||
| 206,992 | ||||||
The financial statements were approved by the PCC on 5 April 2024 and signed on its behalf by:
Jim Stidham Treasurer
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARK ST MARYLEBONE (HAMILTON TERRACE)
Notes to the Financial Statements For the year ended 31 December 2021
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.
The income from trading activities includes rental income from the letting of church premises which is accounted for when earned. It is shown gross, with the associated costs of generating the income 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.
Charitable expenditure includes those costs in fulfilling the PCC’s principal objects, as outlined in the Report of the PCC. These include grants payable, governance costs and an apportionment of support costs.
-
Grants payable are payments made to third parties in furtherance of the PCC’s objects. In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant award. The notification gives the recipient a reasonable expectation that they will receive the grant. Grants awards that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled condition attaching to that grant is outside of the control of the PCC.
-
Governance costs comprise all costs involving the public accountability of the PCC and its compliance with regulation and good practice. These costs include costs related to the independent examination and legal fees.
Taxation
As a charity, the PCC is exempt from tax on income and gains falling within the provisions of the Corporation Taxes Act 2010 or the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen on the PCC.
14
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARK ST MARYLEBONE (HAMILTON TERRACE)
Notes to the Financial Statements For the year ended 31 December 2021
1. Accounting Policies (continued)
Tangible Fixed Assets
Consecrated Property and Moveable Church Furnishings
Consecrated land and benefice property such as the church building and vicarage is excluded from 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.
Leasehold Land & Building
The freehold land and building is the hall at St Mark’s Church Hall and Cottage, Abercorn Place, NW8 9YD. Depreciation is not provided as the estimated residual value is considered to be the same or higher than the carrying value of the property in the accounts.
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
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 PCC.
-
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.
15
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARK ST MARYLEBONE (HAMILTON TERRACE)
Notes to the Financial Statements
For the year ended 31 December 2021
2. Income
| Unrestricted Funds 2021 £ Restricted Funds 2021 £ Donations & legacies Offerings and donations 31,434 10,802 Income tax reclaimed 3,185 - Legacies - - Grants (see note below) 500 - 35,119 10,802 Charitable activities Fee income (net) 1,808 - 1,808 0 Other trading activities Lettings income 47,359 - Fund raising/book sales 4,421 - Other 130 - 51,910 0 Investments Bank Interest 1 - 88,838 10,802 3. Expenditure on Raising Funds Unrestricted Funds 2021 £ Restricted Funds 2021 £ Fundraising Events 2,385 - 4. Expenditure on Charitable Activities Unrestricted Funds 2021 £ Restricted Funds 2021 £ Common Fund (60,000) - Church Life & Outreach 13,740 9,400 Provision of Office & Support 7,933 - Provision of Buildings and Facilities 57,196 2,280 Loan interest payable - - Governance costs 2,210 - 21,079 11,680 |
Unrestricted Funds 2021 £ Restricted Funds 2021 £ Donations & legacies Offerings and donations 31,434 10,802 Income tax reclaimed 3,185 - Legacies - - Grants (see note below) 500 - 35,119 10,802 Charitable activities Fee income (net) 1,808 - 1,808 0 Other trading activities Lettings income 47,359 - Fund raising/book sales 4,421 - Other 130 - 51,910 0 Investments Bank Interest 1 - 88,838 10,802 3. Expenditure on Raising Funds Unrestricted Funds 2021 £ Restricted Funds 2021 £ Fundraising Events 2,385 - 4. Expenditure on Charitable Activities Unrestricted Funds 2021 £ Restricted Funds 2021 £ Common Fund (60,000) - Church Life & Outreach 13,740 9,400 Provision of Office & Support 7,933 - Provision of Buildings and Facilities 57,196 2,280 Loan interest payable - - Governance costs 2,210 - 21,079 11,680 |
Unrestricted Funds 2021 £ Restricted Funds 2021 £ Donations & legacies Offerings and donations 31,434 10,802 Income tax reclaimed 3,185 - Legacies - - Grants (see note below) 500 - 35,119 10,802 Charitable activities Fee income (net) 1,808 - 1,808 0 Other trading activities Lettings income 47,359 - Fund raising/book sales 4,421 - Other 130 - 51,910 0 Investments Bank Interest 1 - 88,838 10,802 3. Expenditure on Raising Funds Unrestricted Funds 2021 £ Restricted Funds 2021 £ Fundraising Events 2,385 - 4. Expenditure on Charitable Activities Unrestricted Funds 2021 £ Restricted Funds 2021 £ Common Fund (60,000) - Church Life & Outreach 13,740 9,400 Provision of Office & Support 7,933 - Provision of Buildings and Facilities 57,196 2,280 Loan interest payable - - Governance costs 2,210 - 21,079 11,680 |
Total 2020 £ 35,465 4,938 - 20,000 |
||
|---|---|---|---|---|---|
| Total | |||||
| 2021 | |||||
| £ | |||||
| 42,236 | |||||
| 3,185 | |||||
| - | |||||
| 500 | |||||
| 60,403 1,928 |
|||||
| 45,921 | |||||
| 1,808 | |||||
| 1,928 52,732 17 - |
|||||
| 1,808 | |||||
| 47,359 | |||||
| 4,421 | |||||
| 130 | |||||
| 52,749 15 |
|||||
| 51,910 | |||||
| 1 | |||||
| 115,095 Total 2020 £ - Total 2020 £ 60,000 21,560 15,797 25,273 5,988 1,000 129,618 |
|||||
| 99,640 | |||||
| Total | |||||
| 2021 | |||||
| £ | |||||
| 2,385 | |||||
| Total | |||||
| 2021 | |||||
| £ | |||||
| (60,000) | |||||
23,140 |
|||||
| 7,933 | |||||
| 59,476 | |||||
| - | |||||
| 2,210 | |||||
| 32,759 | |||||
16
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARK ST MARYLEBONE (HAMILTON TERRACE)
Notes to the Financial Statements For the year ended 31 December 2021
4. Expenditure on Charitable Activities (continued)
For 2020, the PCC made a Common Fund offer in the summer of 2019 to the Diocese of London for £60,000. Due to the pandemic, the church lost most of its revenue from rental of the church and other property. Based on discussions with the Finance Advisor for the Diocese, it was agreed that the 2020 offer would not be met, and the Common Fund offer for 2021 would be zero. As a result, the £60,000 expense accrued in the 2020 Financial Statements has been reversed in the 2021 Financial Statements, and no expense has been taken for Common Fund in 2021.
Staff costs
In addition to the many volunteers who give their time to the church, there were no (2020: no) paid employees whose costs are included within each of the main cost categories of “Expenditure on Charitable Activities” (note 4 above).
5. Net Income
| 5. Net Income | ||||
|---|---|---|---|---|
| This is stated after charging: Operating lease rentals Independent examination fee |
2021 | 2020 | ||
| £ | £ | |||
| 3,171 | 3,171 | |||
| 2,210 | 1,000 | |||
6. Tangible Fixed Assets
Cost At 1 January 2021 Additions Disposals At 31 December 2021 Depreciation At 1 January 2021 Charge For Year Disposals At 31 December 2021 Net Book Value At 31 December 2021 At 31 December 2020 |
Freehold building £ Equipment £ 124,515 2,673 - - - - 124,515 2,673 - 1,336 - 668 - - 0 2,004 124,515 669 124,515 1,337 |
||
|---|---|---|---|
| Total | |||
| £ | |||
| 127,188 | |||
| - | |||
| - | |||
| 127,188 | |||
| 1,336 | |||
| 668 | |||
| - | |||
| 2,004 | |||
| 125,184 | |||
| 125,852 | |||
All of the fixed assets are used for charitable purposes. The freehold land and building comprises the hall at St Mark’s Church Hall and Cottage, Abercorn Place, NW8 9YD.
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARK ST MARYLEBONE (HAMILTON TERRACE)
Notes to the Financial Statements For the year ended 31 December 2021
7. Debtors
| Income tax recoverable | 2021 | ||
|---|---|---|---|
| £ | |||
| 18,294 | |||
8. Creditors - Amounts Falling Due Within One Year
| Accruals Other creditors Diocese Common Fund (see note 4) Loan |
2021 | 2020 £ 1,948 - 60,000 30,000 91,948 |
||
|---|---|---|---|---|
| £ | ||||
| - | ||||
| 4,146 | ||||
| - | ||||
| - | ||||
| 4,146 | ||||
The loan refers to an advance paid by the Vestry Pre-School in relation to roofing works to the premises from which it operates. These premises form part of the church hall complex. Interest at a rate of 15% per annum is chargeable on the loan and the loan was repaid in 2021.
9. Creditors - Amounts Falling Due After More Than One Year
Loan - Diocese
| 2021 | 2020 £ - |
||
|---|---|---|---|
| £ | |||
| 30,000 | |||
The Diocese loan is for the purpose of repaying the loan to the Vestry Pre-School (see note 8 above). Repayments must commence at the latest when the area formerly occupied by the Vestry preschool is producing sufficient net income to enable repayment. The loan is expected to be repaid in full no later than 28 February 2026. The loan is interest free.
10. Restricted Funds
| 10a Current Year Building & Grounds Fund Music Fund Organ Fund Charitable Giving Fund Music scholarships |
At 1 January 2021 £ 6,652 2,937 14,714 15 2,280 26,598 |
Income £ Expenditure £ Transfers £ 3,650 (2,280) - 32 - - - - - - - - 7,120 (9,400) - 10,802 (11,680) 0 |
Income £ Expenditure £ Transfers £ 3,650 (2,280) - 32 - - - - - - - - 7,120 (9,400) - 10,802 (11,680) 0 |
Income £ Expenditure £ Transfers £ 3,650 (2,280) - 32 - - - - - - - - 7,120 (9,400) - 10,802 (11,680) 0 |
Income £ Expenditure £ Transfers £ 3,650 (2,280) - 32 - - - - - - - - 7,120 (9,400) - 10,802 (11,680) 0 |
Gains/ (losses) £ - - - - - 0 |
At 31 | At 31 | |
|---|---|---|---|---|---|---|---|---|---|
| December | |||||||||
| 2021 | |||||||||
| £ | |||||||||
| 8,022 | |||||||||
| 2,969 | |||||||||
| 14,714 | |||||||||
| 15 | |||||||||
| 0 | |||||||||
| 25,720 | |||||||||
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARK ST MARYLEBONE (HAMILTON TERRACE)
Notes to the Financial Statements For the year ended 31 December 2021
| 10. Restricted Funds (continued) | 10. Restricted Funds (continued) | At 1 January 2020 £ Income £ Expenditure £ Transfers £ 5,662 990 - - 1,687 1,250 - - 14,714 - - - 15 - - - 0 8,280 (6,000) - 0 20,000 - (20,000) 22,078 30,520 (6,000) (20,000) |
At 1 January 2020 £ Income £ Expenditure £ Transfers £ 5,662 990 - - 1,687 1,250 - - 14,714 - - - 15 - - - 0 8,280 (6,000) - 0 20,000 - (20,000) 22,078 30,520 (6,000) (20,000) |
At 1 January 2020 £ Income £ Expenditure £ Transfers £ 5,662 990 - - 1,687 1,250 - - 14,714 - - - 15 - - - 0 8,280 (6,000) - 0 20,000 - (20,000) 22,078 30,520 (6,000) (20,000) |
At 1 January 2020 £ Income £ Expenditure £ Transfers £ 5,662 990 - - 1,687 1,250 - - 14,714 - - - 15 - - - 0 8,280 (6,000) - 0 20,000 - (20,000) 22,078 30,520 (6,000) (20,000) |
At 1 January 2020 £ Income £ Expenditure £ Transfers £ 5,662 990 - - 1,687 1,250 - - 14,714 - - - 15 - - - 0 8,280 (6,000) - 0 20,000 - (20,000) 22,078 30,520 (6,000) (20,000) |
Gains/ (losses) £ - - - - - - 0 |
||
|---|---|---|---|---|---|---|---|---|---|
| 10b Prior Year Building & Grounds Fund Music Fund Organ Fund Charitable Giving Fund Music scholarships Tower Works |
|||||||||
| At 1 January 2020 £ 5,662 1,687 14,714 15 0 0 22,078 |
At 31 | ||||||||
| December | |||||||||
| 2020 | |||||||||
| £ | |||||||||
| 6,652 | |||||||||
| 2,937 | |||||||||
| 14,714 | |||||||||
| 15 | |||||||||
| 2,280 | |||||||||
| 0 | |||||||||
| 26,598 | |||||||||
Descriptions of the main restricted funds are as follows:
Building & Grounds Fund. The income to this fund is mainly grants towards the restoration and maintenance of the church buildings and grounds. Much of the work paid for by these funds is eligible for VAT relief under the Listed Places of Worship Grant Scheme. Any VAT reclaimed on restricted expenditure is paid back into the relevant fund.
Music Fund. This fund contains donations and grants towards the musical activities of St Mark’s, including the purchase of choral sheet music and the subsidy of choral and organ scholarships.
Organ Fund. This fund contains donations and grants towards the restoration of the existing pipe organ and the eventual construction of a new instrument.
Charitable Giving Fund. This fund contains proceeds from collection offerings and other donations received towards specific causes.
Tower Works . During the year a grant of £20,000 was received from the Diocese to fund works on the church tower. This grant covered payments made to PAYE Stoneworks for work completed in 2017.
Music Scholarship . Four donors pledged funds for choral scholarships for the new choir year commencing September 2020. In three cases the funds were donated as lump sums, whilst the fourth is to be funded via 12 monthly instalments. The scholarships are awarded in ten monthly payments.
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 |
2021 | 2020 £ 3,489 12,211 15,700 |
||
|---|---|---|---|---|
| £ | ||||
| 3,489 | ||||
| 8,722 | ||||
| 12,211 | ||||
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARK ST MARYLEBONE (HAMILTON TERRACE)
Notes to the Financial Statements
For the year ended 31 December 2021
12. Related Party Transactions and Balances
Members of the PCC gave a total of £11,268 (2020: £7,524) in unrestricted offerings and donations during the year.
No PCC members were employees of the PCC during the reporting period.
No PCC members were remunerated or paid any expenses in their capacity as trustees of the charity.
A total of £nil (2020: £302) was remitted to PCC members during the reporting period. This total consisted of reimbursements for various goods purchased for the church’s use or consumption. No (2020: 3) PCC members were paid or reimbursed for these purposes.
20