Parish of Hackney Annual Report and Accounts 2020
Hackney Church ANNUAL REPORT 2020 lJanuary- December 2020) REFERENCE AND ADMINISTRATIVE INFORMATION The Parochial Church Council of the Parish of Hackney (also known as Hackney Church) CHARITY NAME CHARITY NUMBER 1158545 CORRESPONDENCE Hackney Church House ADDRESS 1 Spiller House, Prodigal Square London E8 1FX TRUSTEES Members of the Parish Church Council IPCC) who served from 1 January 2020 to 31 December 2020 Rev'd Al Gordon - Rector Rev'd Mark Nelson Associate Rector Rev'd Tosin Oladipo- Curate Annotinette Bramble - Churchwarden John Parmiter- Churchwarden Vera Preedy - Licenced Lay Minister, Lay Vice Chair John Roe - Licenced Lay Min15ter, Deanery Synod Representative Miriam Gallacher Diocesan Synod Representative, Deanery Synod Representative John Geach - Deanery Synod Representative Tim Last- Deanery Synod Representative Peter Ottino - Deanery Synod Representative Olufisayo Sonuga - Deanery Synod Representative Elected members Rebecca Adlington (from October 2020, co-opted to October 20201 Yaa Appiah-Badu (from October 20201 Martyn Bearfoot Ruth 8est- Secretary Ellen Donnelley (to October 20201 Michelle Fontaine John Fyson Rachel Greeneklee (to October 2020) Linda Harris Jenny Jamie Sam Lawson Johnston- Treasurer Dave Lochhead Jame5 Mumford Patricia Musgrave Graeme Nicoll Treasurer Nerine O'connor Richard Walters Co-opted members Danna Brown Ifrorn October 20201 Temi Obembe Mike Woods
PRIMARY BANKERS HSBC Bank Plc, 69 Pall Mall, London, SW1Y SEY Mazars LLP, 2nd Floor, 6 Sutton Plaza, Sutton Court Road, Sutton, Surrey, SM1 4FS AUDITOR STRUCTURE, GOVERNANCE AND MANA6EMENT tiv The objective and vision of Hackney Church is to bring hope to the people of East London. Hackne Church Ex eriences Limited Hackney Church Experience Limited (HCELI, a related party consolidated in the financial accounts attached to this report. was incorporated in October 2020 to promote and manage events held within the church building of St. John at Hackney. The directors of trading entity are also trustees of Hackney Church and any profits generated by HCEL will be donated to Hackney Church. St. John's Housin Trust St. John's Housing Trust ISJHTI is a charitable entity whereby the trustees are also trustees of Hackney Church nd therefore SJHT is consolidated in the financial accounts attached to this report. The objectives of the trust are to provide, through two Leasehold properties held in the Hackney Gardens housing development, reasonably priced accommodation to church clergy andlor employees or to other people in need. Any profits generated by the trust are to provide support to people in need in the Hackney community and to assist with the advancement of Christianity through the maintenance of accommodation for the Church of England. Res onsibilities of the P The Parochial Church Council IPCC) has the responsibility, with the Rector, of promoting in the parish, the whole mission of the Church, pastoral, evangelistic, social and ecumenical., maintenance, care and upkeep of the church and churchyard., financial responsibilities and duties as Charity Trustees. As a Church of England Parish, the PCC and Rector follow the requirements of Church of England Canon Law. The PCC consists of Clergy, Churchwardens, Diocesan Synod Representatives and Deanery Synod Representatives as ex-officio rnembers and elected lay representatives from the congregation. PCC members are elected at the APCM, having been nominated by people entitled to attend the annual meeting. At each full meeting, the PCC received reports on Finance, Building and Churchyard, Deanery Synod, Safeguarding and other items as necessary. Matters relating particularly to the Church Building Project, Churchyard and redevelopment of the Old Rectory site have usually been attended to by the Hackney Church Standing Committee, as empowered by the PCC. Incoming Trustees receive an induction explaining both the trustee and PCC responsibilities. The induction includes a detailed discussion of the vision and objectives of the Charity, as well as the operation of the businesses. Cler and Church Staff The rnanagement of the church is overseen by the PCC and delegated to Rev'd Al Gordon. During 2020, the church clergy team consisted of Rev'd Mark Nelson and Rev'd T05in Oladipo whose roles are to look after the internal ministries and community outreaches of the church. Other clergy in training are Ordinands.. Nate Hayes,. Christa Brodie-Levinsohn.' Naomi Maxwell-, Robin Talbot and Toby Thomas. As of December 2020, the staff team consisted of 24 staff members and 11 Interns operating within various ministries including Kids. Youth, Worship, Outreach, Discipleship, Evangelism and Central Services. In addition, many on the staff team also serve as Pastors within their ministry. The salaries for key management personnel are commensurate with similar positions in other charitable entities of a similar size and economic location.
Public Benef it The PCC members confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have regard to the Charity Commission's general guidance on public benefit. Hackney Church benefits the community by the activities described in this report. The PCC has complied with the duty under section 5 of the Safeguarding and Clergy Discipline Measure 2016, in relation to having due regard to House of Bishops, guidance on safeguarding children and vulnerable adults. The PCC has in place a Safeguarding Policy which is reviewed each year and appointed Safeguarding Officers and Children's Champions. The Policy is displayed in the church and available from the Parish Office. ACHIEVEMENTS AND PERFORMANCE Parish electoral roll There were 296 names on the Electoral Roll at the end of the revision process in 20201297 in 2019). Services and Attendance At the start of 2020, f ive weekly services took place at St Luke, Homerton until government restrictions cancelled in-person services. These were.. Wednesday morning 10am Eucharist service,. Sunday 9am Choral Eucharist,. two family worship services at 10am and 11'.30am, and an evening service at 6pm. In March 2020, when the nationwide lockdown began, we broadcast our first online service. The online presence grew from a single weekly service to a full spectrum of online services including 'live' Sundays, mid- week bible studies and the ability to catch up via the podcasts and YouTube channels. By the end of 2020, there were regularly over 1,000 unique viewings of the weekly digital sermons. Average Sunday attendance at the Church in 2020 prior to the lockdown was 540 (2019.. 480). At the end of the year, there were 1,455 adults (2019.. 1,135) and 758 children12019.. 6861 within the church database. ister of occasional services In 2020 there were two weddings, one baptlsm and no funerals off iciated. Worshi In early 2020, the Hackney Church Choir was Singing at the 9am Choral Eucharist in St Luke's, Homerton. Along with our Direttor of Music, our four choral scholars were regularly joined by around twelve members of the congregation. Many plans for development and singing were unfortunately delayed due to the COVID- 19 restrictions. When church re-opened in September, some choral activity resumed, with the choral scholars and individual choir members singing anthems and hymns lor playing instruments) with organ accompaniment. Choral highlights of 2020 include the performance of Faure's Requiem for the All Souls Service, with 20 singers socially distanced around the St John at Hackney balcony, the Carol Services in St John at Hackney and Leyton Church, and singing carols from the balcony for Midnight Mass. The choir also joined with the musicians of Shoreditch Church and the Choir of West Ham Church in providing pre-recorded hymns and anthems for online and in-person services. Hackney Church's contemporary musical life continues to flourish. We saw the worship, production and creative crew grow from 60 volunteers to over 90 volunteers consisting of a wide diversity of ethnicity, gender and age. Additionally, due to the global pandemic, the team has adapted to recording worship songs for the Hackney Church online services as well as leading worship for our in person services. The contemporary worship team has begun to write original worship songs and performs those songs within the live and digital services.
He Bab and Kids The 'Hey Baby, Monday hang was operating in full capacity in early 2020 but was unfortunately put on hold during the pandemic. Due to the popularity of Hey Baby and the ability to reach out to so many young mothers, we plan to relaunch when the pandemic situation subsides. The Kids rninistry continued through the lockdown period with specific kids activities that were supplied via post, online via youtube and zoom groups, plus 'fun slots, for kids on the Hackney Church Everywhere service. The Youth ministry (11-18 years old) launched"Midweek', a weekly Thursday evening specifically for the youth of Hackney Church. The service moved into an online format from March 2020 onwards. The youth gathered online via a Youtube Livestream for 30 minutes guided by two leaders for engagement, community and encouragement in faith. Smaller groups would then follow via zoom for further fellowship and an opportunity to go deeper in discipleship. We have over 40 young people signed up for our weekly small groups and the youth ministry has grown to almost 80 active participant512019.' 55). Rh hrns& Kin dom Come The'Rhythms prayer gathering, is held every Tuesday morning from 8-9am, for an hour of informal prayer and worship. Our weekly Eucharist service was held on Wednesdays and led by clergy. Seasonal 'Kingdom Come, prayer events are powerful evenings of encounter with God and take place from Ascension through Pentecost. municat. 2020 was an exceptionally dynamic year for communication at Hackney Church. We successfully pivoted all of our services and ministries to online platforms and navigated our way from in-person Sundays to recording studios with very positive results. We strived to keep everyone updated through various digital communication channels along with diligently posting and hand-delivering service sheets to those not online. We believe that excellent communication helps build a stronger community within the Hackney Parish. Form Hackney Church continued with the internship program called 'Form'. Beginning annually in September. the eleven students attend HTB Leadership College one day a week and then assist Hackney Church within different ministries and Sundays two and 8 half days per week. This has been an excellent program to attract vibrant young people into the church staff tearn. The Alpha course ran three times in 2020,. once 'in-person' and twice online via zoom. Alpha ha5 been instrumental in growing the church. A significant number of those that attend the course decide, during the course or at the end, to join the church. Alpha continues to be a key area of focus going forward. hth Hackney Church's Lighthouse projett works with vulnerable people by helping to alleviate need through our pioneering Drop-ln Lunch, building lasting relationships, restoring dignity and guiding individuals toward relevant social services so they can build a future filled with hope. The past year saw unprecedented demand such that Lighthouse expanded from distributing 10,000 meals per year from one location in Hackney to delivering 300,000 meals per year on four locations in three East London boroughs. During the year, the Lighthouse completely changed in its output, capacity, presence and mode of operation to ensure safety and compliance with Covid regulations. We now provide a "takeaway" for hot meals and weekly food parcels. As of September 2020. Lighthouse operate5 a self-run foodbank service that ha5 freedom to provide pastoral support to the people in need. Alongside changes to the operation. we have seen the number of those accessing our services increase by almost 600% over the last year. Much of the increases are a result of the pandemic. The food distribution point at St Luke's Homerton Terrace, which runs on Tuesdays and has continued to operate as the main
Lighthouse hub. The Lighthouse at St Mary's Leyton launched in April 2020, All Saint's West Harn and St. Leonard's Shoreditch both launched in November 2020. Lighthouse was part of the Love Your Neighbour initiative which is a network of churches committed to providing for those in need. This initiative provided £54,000 of matched government funding that went directly toward supporting those with food poverty. At Christmas 2020, a grant from the nationwide Love Christmas campaign (also part of Love Your Neighbour) allowed us to deliver 5000 mini-hampers of Christmas treats ond supplies to over 50 groups and churches in Hackney, Waltham Forest and Newham. We have developed new partnerships over the last 12 months with a number of organisations including Fareshare, Felix Project, City Harvest, Deliver Aid, Toiletries Amnesty, Bloody Good Period, Edible London. We work with the Hackney Food Justice Alliance and receive ongoing funding from Hackney Parochial Charities. Local bakeries such as Pophams and Gails regularly donate bread and baked good for our food parcels. We plan to open our f ifth distribution point using the kiosk space on the grounds of St John at Hackney to distribute hot takeaway food in early 2021. Action Crew and "Outward Care" Throughout the pandemic, we gathered almost 200 volunteers, called the "Action Crew-, that were instrumental in delivering food parcels, prescription, shopping and making phone calls to those in need. This was particularly positive as many of the volunteers were not previously associated with the church. These volunteers continue to operate, though with reduced numbers, as the pandemic situation stablises. The Hackney Winter Night Shelter was a long term partner with both St John at Hackney and St Luke's Homerton. Although they no longer operate at our church buildings, we continue to support them with volunteers and coordinators. Communi En ement The National Lottery Heritage Fund plan included Funding for a Community Engagement Officer with a remit to deliver an Activity and Interpretation plan as part of the Restoration project. As part of delivering these plans we have met with many key people at Hackney Council, made connections with local organisations and churches. and attended a number of forums led by comrllunity groups such as London Citizens and others. The NLH F contribution ha5 enabled Hackney Church to be a 'founder rnember, and accredited ernployer with the Hackney Apprenticeship Network,. a council body seeking to promote apprenticeships within the Borough. Throughout 2020, the Community Engagement Team delivered a number of exciting projects and activities that provided people in the local area to participate in a range of church related attivities. All the courses, activities and events outlined above could not take place without the much-appreciated help of volunteers from the congreg3tion. FABRIC AND FACILITIES REPORT Quinquennial Inspection Report The Quinquennial inspection for St. John at Hackney Church was carried out in March 2017 with a nurnber of recommendations that were actioned through the Restoration project. The Quinquennial inspection recommendations for St. Luke's of Homerton are also being completed and the property is due for a new inspection in 2021.
Hackney Church Restoration Project The restoration project began in 2018 and the structural renovation was completed in summer of 2020. The restoration funds were provided by the Heritage Lottery Fund, the London Diocese and the ongoing support of the congregation. The updated church building was opened to the congregation in September and was very positively received by the church members and promoters that could use the space for external events via Hackney Church Experiences Limited. Investments to launch Hackney Church Experiences Hackney Church renovated the church building so that it can be utilised for both religious purposes and for large scale events and gatherings such as concerts and assemblies. Significant investments were made to the sound systems, lighting and other PA equipment. Hackney Church Experiences Limited, a related party consolidated in the financial accounts attached to this report, the business was launched in October 2020 and started to promote events. Other land and property arrangements.. Hackney Gardens development was completed in late summer 2020. The Parish of Hackney was granted the use of a working space that includes a front office, meeting rooms. two new halls plus a full catering kitchen. The larger hall will seat approximately 230 people. and the lower hall 130. Pay and Display car park continues to operate via a contract with JustPark. The cafe in the churchyard is no longer let out and therefore available for church use. In 2020, the kiosk was used to promote the gardens St. John at Hackney and the floristry activity of Hackney Church Experiences Limited. The kiosk is also being set up to host the weekly Lighthouse drop in hot lunch. The church permits the usage of cabling under the footpaths for additional church revenues. FINANCIAL REVIEW 2020 Funding The principal source of funding is from the congregation members and other supporters in the form of regular donations and collections, standing orders and direct debits. The total amount raised in this way for the ministries of Hackney Church in 2020 was £840,932 (2019.. £594,826). We are immensely grateful to God and to all those who gave so generously. Other funding was from grants. Income was also generated from the rental of the churchyard and parking areas. These activities were able to generate income of £166,329 (2019= £108,303). In 2020, Hackney Church Experiences Limited accumulated net liabilities of £58,674 which arise from start- up expenditures and the restrictions on events due to the pandemic. We expect this deficit to reduce throughout 2021 as the ability to generate revenues increases with the easing of lockdown. Expenditure in support of the key objectives All expenditure was in support of the key objectives. It is analysed into different church activities in note 3 of the financial statements. Most of the spending meets more than one of the key objectives. Policy on reserves PCC policy is to not deliberately build up reserves. Any reserves that may exist, result from occumulated giving at any one time. Total unrestricted and undesignated reserves at 31 December 2020 amounted to £48,156 12019.. £396,697). Risk assessment and mitigation The risks which the organisation faces have been considered and measures will be implemented to ensure that appropriate systems, policies and procedures are in place to manage and mitigate the risks. Specifically, where there is financial risk this is managed by strong financial systems and controls. These risks. including health and safety and employment, are being mitigated through modern management systems and practices. As a matter of general policy, independent professional advice is taken where appropriate.
In response to the Coronavirus pandemic. the PCC have considered the likely impact on 2021 finances and have taken steps to review the ongoing income and expenditures. The trustees are reassessing the situation regularly and will take appropriate èction as the situation develops. The trustees are confident that with the continued support of the congregation and appropriate management of expenditure, the church is è going concern and will continue to be financially viable during the ongoing crisis. The budgets will continue to be prepared in line with the financial circumstances and trustees are confident that they will be able to prepare a balanced budget given the continued support of the congregation. Investments Hackney Church has investments that are held with CCLA. These investments are held at market value. Grant making policy The task of deciding how to distribute grants is done by the Rector with reference to the Treasurer. 6rants are awarded to organisations, church members and community members based on an evaluation of each case. All giving follows Hackney Church's mission policy of the promotion of the Christian gospel In proclamation and social action throughout the world. Sustainability policy Hackney Church encourages the adoption of 5UStainable practice in all areas of church life and work, to contribute to the overall reduction in carbon emissions and dealing with the growing evidence for man-made climate change. Measures taken include recycling, energy audits, solar panels, encouraging the use of public transport, cycling and walking. Plans for future periods The short and medium term plan is to continue with the same objectives and activities in support of them. PCC TRUSTEE RESPONSIBILITIES Charity law requires the PCC, the charity trustees, to prepare a statement of financial activities and statement of assets and liabilities for each financial year, which gives a true and fair view of the state of affairs of the church and of its financial activities for that year and adequately distinguishes any material special trust or other restricted fund of the church. In preparing those financial statements the PCC is required to.. select suitable accounting policies and then apply them consistently,. make judgements and estimates that are reasonable and prudent; state whether the policie5 adopted are in accordance with the appropriate Statement of Recornmended Practice on Accounting by Charities and the Accounting Regulations and with applicable accounting standard5, subject to any material departures disclosed and explained in the financial statements., prepare the accounts on the going concern basis unless it is inappropriate to presume that the church will continue to operate. The PCC is responsible for keeping proper accounting records which disclose, with reasonable accuracy at any time, the financial position of the church, and to enable them to ensure that the financial statements comply with applicable Accounting Standards and Statements of Recommended Practice and the regulations made under the Charities Act 2011. They are also responsible for safeguarding the assets of the church and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the Trustees and PCC members of Hackney Parish on 11 May 2021 and signed on their behalf on by Rev'd Al Gordon, Rector. Date= 18110121
Independent auditor's report to the trustees of Parochial Church Council of Hackney Church Opinion We have audited the financial statements of Parochial Church Council of Hackney Church (the 'charity') for the year ended 31 December 2020 which comprise the Consolidated Staternent of Financial Activities, the Consolidated and Charity Balance Sheets, The Consolidated Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 "The Financial Reporting Standard applicable in the U K and Republic of Ireland" (United Kingdom 6enerally Accepted Accounting Practice). In our opinion, the financial statements.. give a true and fair view of the state of the charity and the group's affairs as at 31 December 2020 and of the group's income and expenditure for the year then ended,. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice", and have been prepared in accordance with the requirement5 of the Charitie5 Act 2011. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) IISAS IUK)) ènd applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financi31 statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the f inancial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue a5 a going concern for a period of at least twelve months f rom when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other information The other information comprises the information included in the Trustees, Report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information 15 materially inconsistent with the financial Statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements. we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of
the other inforrnation. If, based on the work we have performed, we conclude that there is a rnaterial misstatement of this other information. we are required to report that fact. We have nothing to report in this regard. Matters on which we are required to report by exception In light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees, Report. We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion.. the information given in the financial statements is inconsistent in any material respect with the Trustees, Report., or sufficient accounting records have not been kept,. or the financial staternents are not in agreement with the accounting records.. or we have not received all the information and explanations we require for our audit. Responsibilities of Trustees As explained more fully in the trustees, responsibilities statement set out on pège 8, the trustees are responsible for the preparation of the financial statements and for being satisf led that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objective5 are to obtain reasonable assurance about whether the financial statement5 as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including f raud. Based on our understanding of the charity and its activities, we identified that the principal risks of non-compliance with laws and regulations related to the Charities Act 2011, U K tax legislation, pensions legislation, employment regulation and health and safety regulation, anti-bribery, corruption and f raud, money laundering, non-compliance with implementation of government support schemes relating to COVID-19. and we considered the ehent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements, such as the Companie5 Act 2006 and the Charitie5 Statement of Recommended Practice. 10
We evaluated the trustees, and management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to posting manual journal entries to manipulate financial performance, mènagement bias through judgements and assumptions in signif icant accounting estimates, in particular in relation to fund accounting, and significant one-off or unusual transactions. Our audit procedures were designed to respond to those identified risks, including non-compliance with laws and regulations (irregularities) and fraud that are material to the financial statements. Our audit procedures included but were not limited to.. Discussing with the trustees and management their policies and procedures regarding compliance with laws and regulations., Communicating identified laws and regulations throughout our engagement team and remaining alert to any indications of non-compliance throughout our audit,. and Considering the risk of acts by the charity which were contrary to applicable laws and regulations, including fraud. Our audit procedures in relation to fraud included but were not lirnited to.. Making enquiries of the trustees and management on whether they had knowledge of any actual. suspected or alleged f raud,. Gèining an understanding of the internal controls established to mitigate risks related to fraud., Discussing amongst the engagement team the risks of fraud-, and Addressing the risks of fraud through management override of controls by performing journal entry testing. There are inherent limitations in the audit procedures described above and the primary responsibility for the prevention and detection of irregularities including fraud rests with management. As with any audit, there remained a risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal controls. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.or auditorsres onsibilities. This description forms part of our auditor's report. Use of the audit report This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed. LknP Mazars LLP Chartered Accountants and Statutory Auditor 6 Sutton Plaza, Sutton Court Road. Sutton, Surrey, SM14FS Date.. 19 O¢lober 2021 Mazars LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.
Parochial Church Council of Hackney Church Consolidated Statement of Financial Activities For the year ended 31 December 2020
| Unrestricted Funds Designated Funds Restricted Funds TOTAL FUNDS 2020 Note £ £ £ £ INCOME FROM: Congregation Giving 2(a) 833,559 70 7,303 840,932 Charitable Activities 2(b) 393 - - 393 Other Funds Generated 2(c) 225,970 392,632 780,910 1,399,512 Events Income 2(d) - - - - Investments 2(e) 5,161 - - 5,161 Other Income 2(f) 17,732 18,401 10,000 46,133 Other Trading Activities 2(g) - 22,437 - 22,437 TOTAL INCOME 1,082,815 433,540 798,213 2,314,568 EXPENDITURE ON: Church activities 3(a) 1,008,800 30,716 340,116 1,379,632 Events 3(b) - - - - Building Projects 3(c) 91,961 1,490,119 459,580 2,041,660 Other Trading Activities 3(d) - 81,001 8,894 89,895 TOTAL EXPENDITURE 1,100,761 1,601,836 808,591 3,511,187 NET (EXPENDITURE)/INCOME before separately stated items (17,946) (1,168,296) (10,378) (1,196,619) Gift of Leasehold Properties 4(b) - - 450,000 450,000 Merger of St. Luke's Church at Net Book Value - - - - NET INCOME/(EXPENDITURE) (17,946) (1,168,296) 439,622 (746,619) Write off of deficit on designated and restricted funds 9 (337,170) 337,170 - - Transfers between Funds - - Gains on Investment assets 6,574 - - 6,574 NET MOVEMENT IN FUNDS (348,542) (831,126) 439,622 (740,045) Balances brought forward at 1 January 2020 396,697 938,006 85,324 1,420,027 BALANCES CARRIED FORWARD AT 31 DECEMBER 2020 48,156 106,880 524,946 679,982 |
Unrestricted Funds Designated Funds Restricted Funds Endowment funds TOTAL FUNDS 2019 £ £ £ £ £ 591,183 2,730 913 - 594,826 3,377 - - - 3,377 213,115 392,889 1,416,776 - 2,022,780 80 - - - 80 9,181 - - 293 9,474 678 - - - 678 - - - - 817,614 395,619 1,417,689 293 2,631,215 751,533 19,991 79,419 - 850,943 - 61,233 - - 61,233 13,815 121,541 3,122,623 - 3,257,979 - - - - 765,348 202,765 3,202,042 - 4,170,155 52,266 192,854 (1,784,353) 293 (1,538,940) 4,011 50,701 14,153 - 68,865 56,277 243,555 (1,770,200) 293 (1,470,075) - (1,846,312) 1,846,312 - - - 44,663 - (44,663) - 12,581 - - 1,728 14,309 68,858 (1,558,094) 76,112 (42,642) (1,455,766) 327,839 2,496,100 9,212 42,642 2,875,792 396,697 938,006 85,324 - 1,420,027 |
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Parochial Church Council of Hackney Church Statements of Assets and Liabilities For the year ended 31 December 2020
| 2020 2019 Note £ £ FIXED ASSETS Investments 12 81,600 75,013 Tangible assets 8 1,030,864 24,665 1,112,464 99,678 CURRENT ASSETS Current account & Cash on Hand 212,831 600,579 Church of England Cash Deposit fund 502,839 1,352,839 Debtors 11 143,121 854,011 Prepayments 11 15,872 253,209 874,662 3,060,638 LIABILITIES: AMOUNTS FALLING DUE WITHIN ONE YEAR 13(a) (307,143) (740,289) NET CURRENT ASSETS 567,519 2,320,349 LIABILITIES: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 13(b) (1,000,000) (1,000,000) NET ASSETS 679,982 1,420,027 FUNDS 9 Unrestricted 48,156 396,697 Designated 165,444 938,006 Restricted 63,785 85,269 Designated Non-Charitable Trading Reserves (58,564) - Restricted Reserves of the Consolidated Charity 461,161 55 679,982 1,420,027 GROUP |
2020 2019 £ £ 81,600 75,013 586,114 24,665 667,714 99,678 185,805 600,524 502,839 1,352,839 232,397 854,011 16,872 253,209 937,913 3,060,583 (328,242) (740,289) 609,671 2,320,294 (1,000,000) (1,000,000) 277,385 1,419,972 48,156 396,697 165,444 938,006 63,785 85,269 - - - - 277,385 1,419,972 Hackney Church |
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Approved by the Parochial Church Council on 11 May 2021 and signed on its behalf by:
Rev'd Al Gordon Rector of the Parish of Hackney
The notes on the subsequent pages form part of these financial statements.
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Parochial Church Council of Hackney Church Consolidated Cash Flow Statement
For the year ended 31 December 2020
| Parochial Church Council of Hackney Church Consolidated Cash Flow Statement For the year ended 31 December 2020 |
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| Cash Flows from Operating Activities: Note Net Expenditure for the Year Adjustments for: Depreciation 8 Dividend and Interest Income from Investment Activities 2(e) (Increase) in Equity due to merger of St. Luke's Unrealised (Gains) on Investment Assets Net expenditures on Building Restoration Project Less Grants Received as Financing Activities Decrease / (Increase) in operating activity debtors 11 (Increase)/Decrease in operating activity prepayments 11 (Decrease)/Increase in operating activity creditors 13 Net Cash Flow from Operating Activities: Cash Flows from Building Restoration Project: Net expenditures from Building Restoration Project 3(c) Decrease / (Increase) in Building Restoration debtors Decrease / (Increase) in Building Restoration prepayments 11 (Decrease) / Increase in Building Restoration creditors 13a Net Cash from Building Project Activities: Cash Flows from Investing Activities: Sale/Disposal of property 8 Purchase of other fixed assets 8 Gift of Leasehold Property 8 Changes in Cash, Debtors, and Creditors as a result of Merger Liquidation of Investment Assets to cash Decrease in Investment Interest Receivable Interest received on Investment Activities 2(e) Net Cash from Investing Activities: Cash Flows from Financing activities: Grants received in Current Year from Financing Activities Loans received in Current Year from Financing Activities Net Cash Flows from Financing activities: Net Decrease in Cash and Cash equivalents Movement in cash and cash equivalents: Net Decrease in cash and cash equivalent Cash and cash equivalents at beginning of period Cash and cash equivalent as at end of Period |
2020 2019 £ £ (740,045) (1,455,766) 133,946 31,828 (5,161) (9,474) - (68,865) (6,574) (12,581) 2,041,660 1,782,706 (594,890) (343,554) 155,015 (38,771) (2,903) 30,151 (191,431) 7,084 789,617 (77,242) (2,041,660) (1,782,706) 555,865 (484,470) 240,240 (240,240) (241,715) 185,527 (1,487,271) (2,321,889) - 363 (690,145) (10,550) (450,000) - - (469) - 34,883 - 3,977 5,161 9,474 (1,134,984) 37,678 594,890 343,554 - 1,300,000 594,890 1,643,554 (1,237,748) (717,899) (1,237,748) (717,899) 1,953,418 2,671,317 715,670 1,953,418 Group |
|
| 2019 £ (1,455,766) 31,828 (9,474) (68,865) (12,581) 1,782,706 (343,554) (38,771) 30,151 7,084 (77,242) (1,782,706) (484,470) (240,240) 185,527 (2,321,889) 363 (10,550) - (469) 34,883 3,977 9,474 37,678 343,554 1,300,000 1,643,554 (717,899) (717,899) 2,671,317 1,953,418 |
14
Parochial Church Council of Hackney Church Notes to the Financial Statements For the year ended 31 December 2020
1. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared in accordance with the Church Accounting Regulations 2006 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The PCC meets the definition of a public benefit entity under FRS 102.
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
The consolidated financial statements includes the results, assets and liabilities, including that of Hackney Church Experiences Limited and St. John's Housing Trust, for which the PCC is responsible in law. They do not include the accounts of other charities or Church groups that owe their main affiliation to another body, nor those that are informal gatherings of church members over which the PCC does not have operation or financial control.
Hackney Church Experiences Limited was incorporated and began trading in 2020 and therefore was not consolidated in the prior years. St. John's Housing Trust had began activities in June 2020. The charity was dormant in prior years and also therefore were not consolidated.
The PCC considers that Hackney Church is a going concern as it has prepared what it considers a viable budget that shows that the current level of unrestricted reserves it is appropriate to support the activities planned for 2021 and for the foreseeable future. Therefore, the accounts are prepared based on Hackney Church being a going concern. The PCC are fully aware of the impacts due to the COVID-19 pandemic and are taking precautionary measures with budgeted expenditures in order to be flexible if the situation arises.
Funds
Unrestricted and designated funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application on the general purposes of the PCC. Restricted funds are those endowments, legacies, donations or grants for specific purposes. The funds may only be expended on the specific object for which they are given. Any balance remaining unspent at the end of each year must be carried forward as a balance on that fund. The details of the funds are set out in note 9.
Income
Voluntary income
Planned giving, collections and donations are recognised when received. An estimate of income tax recoverable is recognised when the related donations are recognised. Grants and legacies to the PCC are accounted for as soon as the PCC is notified of its legal entitlement, the amount due is quantifiable and its ultimate receipt by the PCC is probable. Sales of books and magazines from the church bookstall are accounted for gross.
Income from investments
Dividends are accounted for when due and payable. Interest entitlements are accounted for as they accrue.
Other income
Rental income from the letting of church premises is recognised when the rental is due. Other income is recognised when received.
15
Parochial Church Council of Hackney Church Notes to the Financial Statements For the year ended 31 December 2020
1. ACCOUNTING POLICIES (continued)
Expenditure
Grants
Grants and donations are accounted for when paid over, or when the award has been notified to the recipient, whichever is sooner, if the award creates a binding obligation on the PCC.
Church activities
The diocesan Common Fund is accounted for when paid. Any Common Fund unpaid at 31 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. All other expenditure is generally recognised when it is incurred and is accounted for gross.
Fixed assets
Consecrated property and moveable church furnishings
The properties within this class are the church building. Consecrated and beneficed property of any kind is excluded from the accounts by s.10 of the Charities Act 2011.
Moveable church furnishings held by the Rector and Churchwardens on special trust for the PCC, and which require a faculty for disposal, are accounted as inalienable property unless consecrated. They are listed in the church's inventory, which can be inspected (at any reasonable time). All expenditure incurred in the year on consecrated or beneficed buildings or on the repair of movable church furnishings is written off.
Other fixtures, fittings and office equipment
Only items of greater than £500 are capitalised. Church production equipment comprises a number of electrical and other items connected with sound, vision and worship. They will be depreciated over three years from date of first use.
Computer and office equipment and furnishings are depreciated over three years from date of first use.
Vehicles are depreciated over 6 years using the reducing balance method.
Leasehold Properties
Leasehold properties are depreciated over 50 years from date of acquisition.
Current assets
Amounts owing to the PCC at 31 December in respect of fees, rents or other income are shown as debtors less provision for amounts that may prove uncollectable.
Investments
Except where otherwise indicated in the notes to the financial statements, investments are valued at market value as of 31 December.
Critical accounting judgements and key sources of estimation uncertainty
In the application of the Charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
16
Parochial Church Council of Hackney Church Notes to the Financial Statements
For the year ended 31 December 2020
2 CONSOLIDATED INCOME
| 2(a) Congregation Giving Regular donations One-off donations Collections (open plate) at all services Gift Aid from HMRC 2(b) Charitable activities Church Events Wedding, baptism and Funeral Fees 2(c) Other Funds Generated: Property income Grants Bursary and Support Income Resource Church Income Listed Places of Worship Tax Refund Heritage Lottery Fund Grant 2(d) Event Income: Event income 2(e) Investments Investment Interest Dividend Income Bank interest 2(f) Other Income Other Income 2(g) Trading Activity Income Trading Activity Income Total Consolidated Income 3 CONSOLIDATED EXPENDITURE 3(a) Church Activities Mission Outreach / Giving to other Organisations Mission Evangelism Wider Christian Community Support Incl. Church Planting Sunday. Digital and Special Services Clergy costs Premises, Building and Maintenance costs Administration and Central Costs Worship and Prayer Ministry Families, Youth and Children Discipleship Expenses Church Event Expenses Miscellaneous expenses Total Church Activities 3(b) Event Activities Event Activities 3(c) Building and Property Expenditures Church Building Restoration Project Expenses Incurred for Property Income Church Site Development 3(d) Trading Activities Trading Activity Expenditures Total Consolidated Expenditure |
Unrestricted Funds Designated Funds Restricted Funds TOTAL FUNDS 2020 TOTAL FUNDS 2019 £ £ £ £ £ 376,078 - 630 376,708 263,641 314,280 70 6,673 321,023 218,759 10,840 - - 10,840 33,080 132,361 - - 132,361 79,346 833,559 70 7,303 840,932 594,826 289 - - 289 2,332 104 - - 104 1,045 393 - - 393 3,377 136,375 - 29,954 166,329 108,303 64,276 300,000 294,890 659,166 446,400 - - 500 500 1,650 25,319 - - 25,319 8,266 - 92,632 - 92,632 181,849 - - 455,566 455,566 1,276,312 225,970 392,632 780,910 1,399,512 2,022,780 - - - - 80 13 - - 13 293 711 - - 711 529 4,437 - - 4,437 8,652 5,161 - - 5,161 9,474 17,732 18,401 10,000 46,133 678 - 22,437 - 22,437 1,082,815 433,540 798,213 2,314,568 2,631,215 Unrestricted Funds Designated Funds Restricted Funds TOTAL FUNDS 2020 TOTAL FUNDS 2019 £ £ £ £ £ 4,183 - 210,247 214,429 42,173 27,853 - 1,933 29,786 59,364 89,224 - 17,260 106,484 107,827 235,047 13,670 13,965 262,682 91,269 2,807 - 3,438 6,245 9,899 246,759 3,778 39,800 290,337 117,685 235,286 13,267 13,164 261,717 165,508 81,166 - 6,349 87,515 103,447 52,577 - 31,638 84,215 69,650 16,749 - 1,335 18,083 28,774 13,185 - 987 14,173 52,696 3,966 - - 3,966 2,651 1,008,800 30,716 340,116 1,379,632 850,943 - - - - 61,233 91,961 1,490,119 459,580 2,041,660 3,244,164 - - - - 6,414 - - - - 7,401 - 81,001 8,894 89,895 - 1,100,761 1,601,836 808,591 3,511,187 4,170,155 |
|---|---|
17
Parochial Church Council of Hackney Church Notes to the Financial Statements For the year ended 31 December 2020
4 Related Parties
4(a) Hackney Church Experiences Limited
The PCC, through nominees, manages 100% of the issued share capital of Hackney Church Experiences Limited (registered number: 12470018) ("HCEL"), whose principal activities during the year were those of operating as a venue coordinator for gigs, music events and other hiring of the church spaces. HCEL also operates a Floristry business that sells flowers to the local community and offers floristry services to events held at church buildings.
The Parish of Hackney and HCEL transact as independent entities. All distributions from trading reserves are donated to the Parish of Hackney.
| Turnover Venue Hire Music Event Income Floristry Sales Other Income Total Turnover Operating Expenditures General Expenses Legal Costs Music Consultants Event Marketing and Communications Floristry Marketing and Communications Floristry Materials Use of Hackney Church staff Total Operating Expenditures Net (Loss)/Profit Retained in HCEL Distributions to the Parish of Hackney Accumulated Profit/(Loss) Brought Forward Non-Charitable Trading Reserves |
2020 2019 £ £ 625 - 20,000 - 1,714 - 98 - 22,437 - 466 - 3,350 - 7,000 - 1,097 - 2,582 - 1,076 - 65,430 - 81,001 - (58,564) - - - (58,564) |
|---|---|
4(b) St. John's Housing Trust
The PCC, through trustees, manages 100% of St. John's Housing Trust (Registered Charity number 1172228) ("SJHT"), whose principal activities during the year were to supply affordable housing to Hackney Church employees.
Although the objectives of the charity are aligned to the church, the Parish of Hackney and SJHT transact as independent entities.
| Income Donations Rental Income Gift of Leasehold Property Total Income Expenditures Administration Expenses Repairs and Maintenance Deprecation of Leasehold Buildings Total Expenditures Net (Deficit)/Surplus Retained in SJHT Accumulated Surplus/(Deficit) Brought Forward Charitable Trading Reserves |
2020 2019 £ £ - 100 20,000 - 450,000 - 470,000 100 60 60 3,584 - 5,250 - 8,894 60 461,106 40 55 15 461,161 55 |
|---|---|
18
Parochial Church Council of Hackney Church Notes to the Financial Statements For the year ended 31 December 2020
5 GOVERNANCE COSTS
The remuneration to the auditors for the audit of the 2020 accounts was £12,950. (2019: £9,500)
----- Start of picture text -----
||||
|---|---|---|
|2020|2019|
|£|£|
|Wages and salaries (incl. PAYE)|608,050|417,530|
|Employers Social security costs|44,923|31,255|
|Employers Pension Costs|10,779|9,467|
|663,752|458,252|
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6 STAFF COSTS
During the year the PCC employed the full time equivalent ("FTE") of 21.75 people (2019: 14.76) and on the basis of actual number of people employed regardless of FTE the number of people employed in the year 33.33 (2019: 22.16). HCEL and SJHT did not have any direct employees in 2020 (2019:nil).
One employee earned in excess of £60,000 in the year 2020 (2019: One) with nil of Employers Pension Cost (2019: nil). Total remuneration for key management personnel was £65,000 in the year. (2019: £65,000)
The above salary amounts include a remuneration for redundancy in the amount of £800. (2019: nil)
Clergy members are employed by the Diocese of London and not by Hackney Church so their costs have not been included in the salary figures shown above. Hackney Church is also obliged to provide accommodation to its ordained staff and its policy is to provide similar accommodation to its offCommon Fund clergy as to that provided by the Diocese to the rector. As clergy are ex-officio members of the PCC they are in effect related parties in relation to their accommodation, but the details of this benefit provided by Hackney Church has not been separately analysed in these statements.
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||||
|---|---|---|
|7 RELATED PARTY TRANSACTIONS|2020|2019|
|£|£|
|Paid Bursaries of PCC Members|-|470|
|Received from Hackney Parochial Council|7,000|14,000|
|Received from South Hackney Parochial Council|-|1,500|
|Donated to St. John's Housing Trust|-|100|
|Paid to St. John's Housing Trust for accommodation|20,000|
|Received from Hackney Church Experiences Limted for services rendered and supplies|76,086|
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7 RELATED PARTY TRANSACTIONS
Two members of the PCC are also trustees of the Hackney Parochial Council. Hackney Parochial Council charity is not a related party as defined by the Charities Commission however, the transactions are disclosed in the interest of transparency.
The known amount given to the church by the members of the PCC and Clergy during their time in office in 2020 is £117,705 (2019: £61,323). There were no other disclosable transactions in respect of PCC members, persons closely connected with them or other related parties.
No remuneration amounts were paid to Trustees during their time in office during the year. In addition, no amounts in regards to expenses were reimbursed that were not incurred directly on behalf, and for the benefit of, the Church.
8 TANGIBLE FIXED ASSETS
HCEL held no tangible fixed assets as of 31 December 2020. Tangible fixed assets below are fully held by the PCC. Leasehold Property is fully held by SJHT.
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|||||||||
|---|---|---|---|---|---|---|---|
|PCC|
|IT and|PCC|PCC|SJHT|
|Computer|Furniture and|Production|PCC|PCC|Leasehold|
|Equipment|Fixtures|Equipment|Vehicles|Subtotal|Property|Total 2020|
|£|£|£|£|£|£|£|
|Cost at 1 January 2020|16,305|23,710|67,297|-|107,312|-|107,312|
|Additions during year|9,058|144,455|517,114|19,518|690,145|450,000|1,140,145|
|-|-|-|-|-|-|-|
|Disposals during year|
|Cost at 31 December 2020|25,363|168,165|584,411|19,518|797,457|450,000|1,247,457|
|Depreciation at 1 January 2020|12,528|10,594|59,525|-|82,647|-|82,647|
|Charge for the year|3,981|31,912|91,447|1,355|128,696|5,250|133,946|
|-|-|-|-|-|-|-|
|Disposals during year|
|Depreciation at 31 December 2020|16,509|42,506|150,972|1,355|211,343|5,250|216,593|
|Net Book Value at 1 January 2020|3,777|13,116|7,772|-|24,665|-|24,665|
|Net Book Value at 31 December 2020|8,854|125,659|433,439|18,163|586,114|444,750|1,030,864|
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19
Parochial Church Council of Hackney Church Notes to the Financial Statements For the year ended 31 December 2020
9 STATEMENT OF FUNDS
| 9 STATEMENT OF FUNDS | |||||||
|---|---|---|---|---|---|---|---|
| At 1st January 2020 |
Income | Gains from Investments |
Gifts of Property |
Expenditures | Transfer to Other Funds |
At 31st December 2020 |
|
| £ | £ | £ | £ | £ | £ | £ | |
| Unrestricted Funds | |||||||
| Unrestricted Fund | 396,697 | 1,082,815 | 6,574 | - | (1,100,761) | (337,170) | 48,156 |
| Total Unrestricted Funds | 396,697 | 1,082,815 | 6,574 | - | (1,100,761) | (337,170) | 48,156 |
| Designated Funds Experiences Fund St. Luke's Garden Fund London Aged Christian Society St. Luke's Quinquennial Fund St. Luke's Building Fund Building Restoration Fund HCEL Trading Activities |
144,507 1,085 120 30,737 3,500 758,057 - |
16,030 - - - - 395,073 22,437 |
- - - - - - - |
- - - - - - - |
(26,757) (278) - - (3,500) (1,490,300) (81,001) |
- - - - - 337,170 - |
133,780 807 120 30,737 - - (58,564) |
| Total Designated Funds | 938,006 | 433,540 | - | - | (1,601,836) | 337,170 | 106,880 |
| Restricted Funds Lighthouse Project (Previously Open Doors) Lighthouse LYN Christmas National Lottery Heritage Emergency Fund Hackney Parochial Charity St. John's Housing Fund Vicar's Discretionary Fund Infrastructure Grant Fund Festival Bursaries and Support Ouseley Choir Grant Retirement Fund All Saints Church West Ham St. Leonard's Church Shoreditch St. Mary's Church Leyton Youth BLMF Youth Minster Heritage Lottery Fund SJHT Charity Activities |
68,635 - - 1,435 - 3,423 7,197 - 1,340 169 - - 3,070 - - - 55 |
134,019 51,984 46,600 5,500 - - 500 - - 10,000 25,000 40,567 11,666 16,811 455,566 20,000 |
- - - - - - - - - - - - - - - - - |
- - - - - - - - - - - - - - - - 450,000 |
(150,055) (51,360) (40,038) (6,935) (20,000) (3,423) (5,690) - (990) - (10,000) (17,885) (32,653) (11,666) (13,437) (455,566) (8,894) |
- - - - - - - - - - - - - - - - |
52,599 624 6,562 - (20,000) - 1,507 500 350 169 - 7,115 10,984 - 3,374 - 461,161 |
| Consolidated Eliminations in Restricted Funds St. John's Housing Fund SJHT Charity Activities |
85,324 | 818,213 (20,000) |
- - - |
450,000 - - |
(828,591) 20,000 - |
- - - |
524,946 20,000 (20,000) |
| (20,000) | - | - | 20,000 | - | - | ||
| Total Restricted Funds | 85,324 | 798,213 | - | 450,000 | (808,591) | - | 524,946 |
| Total Funds | 1,420,027 | 2,314,568 | 6,574 | 450,000 | **(3,511,187) ** | - | 679,982 |
Restricted Funds of the PCC
The Lighthouse Project (previously named Open Doors) is to support local people in need within the local community.
The Lighthouse LYN Christmas fund is a grant from Love Your Neighbour for delivering Christmas essential food and supply boxes for Christmas 2020 The National Lottery Heritage Emergency Fund is a grant to help cover the costs of the heritage building during lockdown and re-openings The Hackney Parochial Charity Fund supports local people living below the poverty line and is used for Night shelter & Foodbank. The St. John's Housing Fund represents the support from and paid housing costs to St. John's Housing Trust. The Vicar's Discretionary Fund is for use by the Vicar for Pastoral and support of the congregation and community The Infrastructure Grant Fund is a anonymous gift for purchases of office furniture and equipment.
The Festival Bursaries and Support Fund represents grants and monies received for the support of congregation to attend Church and religious events. The Ouseley Choir Grant is to support upcoming worship staff within the church.
The Retirement Fund has been in place for some time and is from special retirement collections.
The All Saint's Church West Ham is for monies received and incurred for the support of All Saint's Church in West Ham The St. Leonard's Church Shoreditch is for monies received and incurred for the support of St. Leonard's Church in Shoreditch The St. Mary's Church Leyton Trust is for monies received and incurred for the support of St. Mary's Church in Leyton. The Youth BLMF (Bishop of London's Mission Fund) is a grant toward the employment of a youth pastor. The Youth Minster is a restricted grant toward expanding Youth ministry across the Stepney area.
The Heritage Lottery Fund grant is for extensive refurbishment of the church building.
20
Parochial Church Council of Hackney Church Notes to the Financial Statements For the year ended 31 December 2020
10 ANALYSIS OF ASSETS BY FUND
| 10(a) Group Assets by Fund Leasehold Properties Fixed Assets for church use Fixed asset Investments Current Assets Liabilities due within one year Liabilities due after one year Total Group Assets by Fund 10(b) PCC Assets by Fund Fixed Assets for church use Fixed asset investments Current Assets Liabilities due within one year Liabilities due after one year Total PCC Assets by Fund |
Unrestricted Funds Designated Funds Restricted Funds Total £ £ £ £ - - 444,750 444,750 437,120 133,780 15,214 586,114 49,936 31,664 - 81,600 858,551 (58,564) 74,674 874,662 (297,451) - (9,692) (307,143) (1,000,000) - - (1,000,000) 48,156 106,880 524,946 679,982 Unrestricted Funds Designated Funds Restricted Funds Total £ £ £ £ 437,120 133,780 15,214 586,114 49,936 31,664 - 81,600 862,858 75,055 937,913 (301,759) - (26,484) (328,242) (1,000,000) - - (1,000,000) 48,156 165,444 63,785 277,385 |
|---|---|
| 11 DEBTORS AND PREPAYMENTS Debtors Gift Aid tax recoverable Donations and Grants Receivable Amounts Due from HMRC for VAT Receivable Amounts Due from Listed Places of Worship Amounts Due from Heritage Lottery Fund Accounts Receivable Amounts Receivable from HCEL Other Debtors Debtors for the year ended 31 December 2020 Prepayments and Deposits Deposits for Curate Housing Prepayments on Church Building Works and Equipment Rental Prepayments for Curate Housing Other Prepayments for Church Activities Prepayments for the year ended 31 December 2020 |
Group 2020 Group 2019 £ £ 10,805 56,564 - 10,000 3,799 127,834 6,244 75,868 77,550 542,364 31,922 38,420 - - 12,801 2,961 143,121 854,011 - 2,910 - 240,240 1,573 - 14,299 10,059 15,872 253,209 |
PCC 2020 PCC 2019 £ £ 10,805 56,564 - 10,000 - 127,834 6,244 75,868 77,550 542,364 31,675 38,420 89,172 - 16,951 2,961 232,397 854,011 - 2,910 - 240,240 1,573 - 15,299 10,059 16,872 253,209 |
|---|---|---|
12 INVESTMENTS
HCEL and SJHT had no investments throughout 2020 (2019: nil). Amounts below represent Investments held by the PCC.
| Investments Activity CCLA - Home Mission Deposit Account CCLA - Investment Account CCLA - Investment Account Investments by Fund CCLA - Home Mission Account CCLA - Investment Account CCLA - Investment Account |
Market Value as of 1 Jan 2020 Unrealised Gains on Investments Dividend and Interest Income Transfer of Income to other accounts Market Value as of 31 Dec 2020 £ £ £ £ £ 3,052 - 13 - 3,065 48,254 4,937 711 (711) 53,191 23,707 1,637 - - 25,344 75,013 6,574 724 (711) 81,600 Unrestricted Designated Restricted Total 2020 Total 2019 £ £ £ £ £ 3,065 - - 3,065 3,052 21,527 31,664 - 53,191 48,254 25,344 - - 25,344 23,707 49,936 31,664 - 81,600 75,013 |
|---|---|
The historic cost of investments is £53,052.
21
Parochial Church Council of Hackney Church Notes to the Financial Statements
For the year ended 31 December 2020
13(a) LIABILITIES: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Accounts Payable Amounts Payable to SJHT Amounts Payable to Employees for Expenses Other creditors PAYE and NI due to HMRC VAT Payable Audit Fee Rental Deposits held London Diocese Other Accruals |
2020 2019 £ £ 78,625 404,071 - - 818 2,661 185,286 7,453 19,269 (10,081) - - 12,950 9,500 8,300 4,500 - 300,000 1,895 22,185 307,143 740,289 Group |
2020 2019 £ £ 77,222 404,071 17,316 - 818 2,661 185,286 7,453 19,269 (10,081) 5,186 - 12,950 9,500 8,300 4,500 - 300,000 1,895 22,185 328,242 740,289 PCC |
|---|---|---|
13(b) LIABILITIES: AMOUNTS FALLING DUE AFTER ONE YEAR
| Long Term Loan | 2020 2019 £ £ 1,000,000 1,000,000 1,000,000 1,000,000 Group |
2020 2019 £ £ 1,000,000 1,000,000 1,000,000 1,000,000 PCC |
|---|---|---|
A long term drawdown facility was agreed with an unrelated party in late 2019. The full amount of £1,000,000 was drawn in December 2019. The borrower reserves the right to charge interest which, if charged, would be calculated at NatWest Base rate plus 1%. The capital of the loan is repayable in amounts of £250,000 on December 2023, December 2024, December 2025, and December 2026.
14 LEASE COMMITMENTS
Hackney Church has two rental flat lease agreement with St. John's Housing Trust for the accommodation of clergy and a verger. The agreements extend to the 15th of June 2021 with a total cost per month of £2,800. The amounts are invoiced monthly and the contract can be terminated with one month's notice given on the 15 May 2021. Other rental property agreements can be terminated with one month's notice.
15 COVID-19
The scale and spread of Covid-19 (coronavirus) worldwide has caused and will continue to cause operational variations to the charity’s activities. Although the outbreak has not impacted the regular charitable donations, the Church has invested significantly in digital equipment in order to reach the local congregation and beyond. The Trustees continue to monitor the situation very closely and are actively adapting to the restrictions and changes in social gatherings.
22