,Sl .In(Ire.11 h) (he, 11-ardri)l)e ST ANDREWS HILL & QUEEN VICTORIA STREET EC4V 5DE ANNUAL REPORT FOR THE YEAR ENDING DECEMBER 2021 Registered Charity Number 1162335 CONTENTS Administrative Information Agenda for the Annual Parochial Church Meeting Minutes of APCM 2021 Rector's Report Electoral Roll Report Safeguarding Report Fabric Report Deanery s￿0a Report Administrator's Report Treasurer's Report Finance Report and Accounts Clean for Good Progress Report Clean for Good Accounts io io 12 13 14 16 26 27 ADMINISTRATIVE INFORMATION- 2022 Rector and Archdeacon of London: The Ven Luke Miller NSM Curate: The Rev'd Prebendary Jonathan Osborne Churchwardens: Martin Woods Tom Omiond Bookkeepeer. Kevin Ogilvie TTeasurer: Robin Davies Parish Administrator: Laura Li Parish Clerk 1st Ann's): Jennifer Madean Deanery Synod Representative: Martin Woods Guild Church Council Members: David Wheeler Robin Davies Ex-offiao Clergy, Churchwardens 2nd Deanery Synod Representative Electoral Roll Officer. Martin Woods Sidespeople: Tom Ormond David Wheeler Martin Woods Robin Davies Safeguarding Officer. Tom Orniond Bankers: CAF Bank Ltd Independent Examiner: Andrew Hedger FCA Sevenoaks. Kent 4 5 6 7 RECTOR'S ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 The fast pace of life in any parish church means that writing an annual report in the spring looking back over the year to the preceding December is always a bit of an exercise in realising how far we have come even since New Years Day. As I write S Andrew s church is a building site. Since the second half of December we have moved all of our services and activities to S Martin Ludgate. A great deal of the year 2021 was spent in preparation for the be￿nnIng of the long-awaited restoration project. The Heads of Terms with the Coptic Orthodox Church were finalised at last, and the faculty was obtained. Our fundraising team have worked hard to gather extern21 grants 2nd we are particularly grate￿1 to the City Churches Grants Committee for the considerable funds which enabled the phase one works to begirn The Apothecaries, Blacksmiths, Spectacle Makers, Upholders. Parish Clerks and Ward Club have all rallied round to support us. and the PCC has designated a very considerable amount of its reserves to the project. The revision of our reserves policy which this led to is not in our accounts. The building works have marked the ending of two particlllarly longstanding relationships. Saint George's Indian Orthodox church ceased in the church at the point at which we closed for the building works. They have made a happy arrangement at S Margaret Pattens in the City as their main place of worship. but they may well occasionally come to us for anniversary services and memorials. The other is our link with the English Chamber Choir. Many of the choir's members now come from further west in London and the closure of the church has been the moment at which they have forn]ally ceased to see S Andrew by the Wardrobe as their home. We look fonyard nevertheless to welcoming them back for services from time to time. There was a poignant moment at the end of the ward and parish Carol seNice when for the last time as the"resident Choir the ECC sang for us. It was Yery good On￿ again to be able to have a round of carol sernices and to welcome amongst others. the Apothecaries, the British Slovene Society, and of course the Ward Club with our'local, Liveries. Midnight mass was celebrated at S Martin Ludgate. The mention of the ward club is a moment to mark the thanks which we owe to Virginia Hopson, who served two years as Ch2irnian of the Ward Club during the pandemic and whose support for the Ward Church could not have been more full. She has been a regular worshipper. helped us to engage well with the Club and has been personally an indefatigable volunteer and supporter in many of the parish activities. On St Ann s Day in July we were able to celebrate mass in the churchyard of S Ann Blackfriars. That was not our only outdoor ]iturgy. Carols on the Hill was a fantastic new initiative to hold an outdoor carol service amongst those gathered outside the pubs on S Andrews Hill enjoying a post work drink Supported by Tom Daggett from S Pauls Cathedral and Archdeacon Adam Atkinson. an old upright piano and a few sernice sheets turned the hill into a joy￿1 place of praise. It is an example of what is possible by way of outreach and mission in our extraordinary setting. While it is frnstrating that we lack capacity to capitalise on such opportunitie& as we work together we will build what we need to be able to make the most of them. One way to build capacity has been to work with other local churches and the City Catholics network has enabled us to do that. In addition to sharing some festival seNices. we had a joint t£nt group in which the clergy of the various churches lead sessions on the study of S Augustine s Confession& 9 10 FABRIC REPORT St Andrew by the Wardrobe The work to renew the heating and electrical wiring in St Andrew by the Wardrobe began just before Christmas. The project will cost over Elm in total. and comprises two phases: Phase l - currently in progress. Due to complete in May 2021, this wryll tackle the urgently needed electrical rewiring to replace existing defective system. plus new low*nergy lighting scheme incorporating restoration of existing historic fittings, and new fire detectionlalarm system. The new electric heating system will use air source heat pumps sited in the roof space and rapidly responding electric radiators in the nave and galleries. Other works include roof repairs and thernial upgrade. asbestos removal and refitting the kitchen. renewing floor coverings, plumbing and electrics. Phase 2- subjed to fundraising This phase will make the building fully accessible, creating an external access ramp, plus associated re-landscaping to create a new external seating area. The new kitchen will be completed and the parish room will be Tefurbished to Pro￿de a welcoming space. The chapel will be reordered as & flexible meetinglevent spaceloffice. Redesign and renewal of the Wcs will provide fully accessible facilities, including baby change. A basic AV system will be installed. Finally, restoration of the fine joinery and redecoration. The proposals have been care￿IlY designed by Edwards Wilson Architects 2nd Surveyors, highly experienced in heritage conservation. to minimise any adverse impact on the heritage significance of St Andrew s. including its historic skyline and panelled interior. Once the works are completed the building will reopen with a partnership with the Egyprtian Coptic Orthodox Church. who will occupy the building as tenants. St Andrew s will combine use for regular Anglican worship and educational activities with a new role as the Coptic Diocese's London Ministry Hub. As well as bringing a new and diverse faith community to this historic location. it will provide a base for the Copt's City Mission social artion for the homeless. OFn daily. the church will welcome tourists, schools and the community, offering a rich and diverse cultural experience. St Andrew s will flourish as a centre for worship and for the support of the wider community - and be an oasis of calm in the heart of the City of London. Fundraising continues and we are very grateful for the contributions which have so far been received and which have made this possible. St Martin Ludgate At the tirne of writing- April 2022- we have just received the Report from the Quinquennial inspection undertaken on 1st March 2021 by our architect. Margaret Davies. The report highlights an urgent need to address the safety of the cornice, and then to take fonyard further inspection work and remedial action. An action plan is being drawn up to address less urgent items as well as some further issues which have come to light since the inspection: li 12 ADMINISTRATOR'S REPORT The year 2021 was my third year at St Andrew by the Wardrobe and no two years have been the same. The country started to return to nornial after the peri(Kls of lockdown and St Andrew s slowly did the same. Despite the lifting of restrictions, the City remained quieter than is the norn) and the usual hire activity ceased. Nonetheless there was still plenty to keep us busy. No agreement having been reached with the Stationers. Company al)out their continued occupation of St Martin Llldgate the management and administration of the church was returned to the PCC and the Parish Office. There was a lot to do to become familiar with the building, put in place our own policies and procedllres and manage the bookings that we inherited from the Stationers. We had a temporary administration assistant, Tanja Raaste, for a peTLod of several weeks oi'er the sunllner to help with this work The other main activity keeping the administration occupied is of course supporting the building Project. This included running a consultation exercise and speaking at our November Advanced Sunday School about the perils of working in a building with faulty electrics and freezing cold loos! Despite being the sole employee at St Andrew s I can only function effectii'ely as part of a team. I would like to extend my thanks to Churchwardens artin Woods and Tom Orniond for their help and support. Thank you to Virginia Hopson, Chairman of the Castle Baynard Ward Club 2021, whose help at the end of year seNices was invaluable. And my thanks, of course, to the Rector. Although he is much occupied wearing his archidiaconal hat Fr Luke is always available to give advice and guidance whenever needed. The year ended with our Parish and Ward Carol service and the very next day we closed for Phase l of the building works. Having got back into the office after all the lockdowns I am now without abode again for the duration of the works. I do, however, look fonyard to returning to a building with much more hospitable facilities. Laura Li Parish Administrator 13 TREASURER'S REPORT The financial situation of the two churches in the parish can be summarized as follows: St Andrews St. Martins Total income Total expend Net surplus £610898 330390 516035 275102 94863 5288 280508 240933 39575 Rise in value of investments 51758 332266 715736 Balance blfd Net assets 1048(K>2 This Is held as to: General investments Shares in Clean for Good 413922 25001 438923 Net balances at bank & debtors 609079 1048002 Of this £689452 is in restricted or designated funds leaving the balance of £358550 unrestricted. Notes.. Breakdown of income St. Andrews Breakdown of the £516035: Recurring grant £5816 Burial ground grant £50(X) Both these grants are from diocesan bodies. Other donations and similar £1213 Total of the last 3 £12029 Donations for church refurbishment programme £4321(rf) Church hire £950 Letting of hall £18617 Parish rates £45128 Total of the last 4 £64695 Interest and dividends £7151 St. Martins Breakdown of the £94863: Radio mast- £66775 Chllrch hire & investment inc E28088 14 15 ACCOUNTS FOR 2021 ST_￿17)RE}￿._B1._THE-II._1RDR0BE DIOCESE OF- LONDON TWO CITIES AREA ith St.4Dn Blarkfri3rs St Ilartin Ludg*te REPORT.￿)￿.￿CColTrTs 31 DEC"EIIBER 2021 16 ST.4LNVREII"_BI"_THE-II".4RDROBE Paoe I Parish: Si Andreii'_bi'_Ihe-M ardrobe Queen l icioria Streei. EC41- iDE Rector: The l en Luke Miller Si Andteii"s Hill EC41" iDE Bankers: CAF Bank 2) Kin?'s Hill Al-e. King's Hill. Il'est Malling. Keni ME 19 4JQ Fund manager CCL.4 Ini"eslment Manauen]ent Ltd 80 Cheapside London ECII- 6DZ c.ouncil Ilembers: The l en Luke Miller (Chainnan) Daiid IlTheeler Ll-o (LaN' l ice Chair) Tom Orn)ond Martin Il"oods The Rei"'d PrebendarN' Jonathan Osborne Robin Daiies 17 ST LNDREII'_BI-THE-M'.4RDROBE Page 2 REPORT OF THE PAROCHL4L CHtIiCH COI)CIL 31 DECEIIBER 2021 T]ie Paiocljial Cliiucb co￿)ea ITCC) presents the atsllu81 rewi and 8ccow)rs for the year ended 31 Decenibei 2021. Respoknsibilitits ofthe PCC Tl)e PCC is ieqiiired io prepare finaE]cial staiejllellis fLK each fuwwial Jrar ￿l￿"¢b ?iTre a trne alld fair ieiv of the slate OFaffa￿s of the Pan5h as al tbe end of the fillanc￿l Nrar and of 115 ]llco￿e and expenditure foi Ihai peilod. In pttpariiig Th¢￿ accowiis. Ihe PCC is iei]iurd io seleci aPPTopriaie atCOUIiiillg policies. lljake jud¢e￿e￿i5 and e51i]llaies thai are ieaso]Mble Attd pnLdelli attd siaie hether all accounting standards IN'hich thei- consider to be applicable hai"e been folloiied. The PCC is also requlled io use a 80￿$ collcerll basis ill preparin8 the accoullis Ulliess tllls is it)appiopriare. The PCC bas ibe Tes￿￿$1b1￿￿ fLY enswing thai there are Proper aeeoulliwg reeoTds kepi. alld for taking such steps as are ieasollablj" open to safeguatd the *5sels of the Patish and to pirt'eDI and detect fi81￿ ajid orhet i￿¢gI11anTIe$. Prill¢ip#l aCti￿tTh- reiTrev* Tlie PCC has ihe resw1￿ib1]irn' of CLx4*raiillg iyiib ihe Rector in prLRlloiing in ihe ecclesiasrical patish of St AndreiN' kn. the Il'ar(bobe the iiknle [￿SSIoD of the Cbutch. pasiorai. ei"allge]istLC. sIKiai and ecwneiiical. Lh]tiJig 2021 rhe PCC beli￿e$ li has Ellei rliese objeciiies and i￿711 be inalliralned in ttse fiLIUte. The PCC ￿ a chatil). cu￿￿11). exe]Dpled fro1nre￿str&1Ioll the Chatilj. Coll]]￿51011. -Nlajor risks: The PCC btlL¢N¢S that it has identified and [Nie￿ra all llwjor Tisks that niighi affttr the mission and has sufficielli sysie]Ds and pttKedures ill place 10 ]nili?aie those nsks. partieular the PCC kiiei'es diar Ihe level of ieseTh"es held are sufficjent and reasonable to MaInta￿ the llmssioll. Reserves Poliev". -411 Fwids held to assLSt ]n the costs associated ￿7th the pjanned reD0&7ri0u of the church and TO proiide rhre¢ Jllonrhs, of Ul￿es(lIe1ed paS￿e￿I$. Investment Polie+': Tjie PCC suiKolltracls the njanagement of ils fiullLs 10 CCL4 Jni"e5ttneIit Ltd. 1115 sa115fied the F¢rfon]wi¢t achlei-d th￿ilIg rhe !'¢ar.Th¢ PCC LS CQII]IJILNed io r¢i-i¢ii" perfombqJiC¢ ¢)n a Te9￿8[ basis. Trustee RemuDeration No nianb¢TS of ihe P('C rtceii'e any iemuneraiion. Reasonable Cle[gY￿Penses ale n]et. Othet thali tliis ihere weie llo related party tAusa¢iiL)nS. Financial Result.. The PCC tnade a Su￿]￿5 of iotal oi-er ewelldln￿e on the General Fund of £_l_l) ?)9 (h]e to the Capital Projeci. The Balallce Sheei ai 3 Isi Decellknei ?011 shoii.ed ioial uei awrs of £l,(k17,99i. CouD¢il: The iiiesiibers of the PCC dunng the iEaT as Sh￿1￿ on the w￿l0￿S page. All illallbets ot ilje PCC are either e.x officio ￿ are elecied ai the.4llttual Parochial Church Mttiill8 iti accordance the Church Representation Rules. The Patish has adopred a pilicv of i￿alling the tetm lJll]Jts thai an}. person I￿l'ill9 seTh'ed six sEars conixtiuouds.. AppioN'ed b). the PCC on I Ith Apnl ?0?2 and 51glled on its behalf by. Tjie l-ell Luke Miller Recior 18 Page 3 Report of the Independent EFaminer to the PCC membeTh of tbe Parish of S¢.4ndrew-by-the- WaTdTobe I report to the PCC members of the Parish of Si And[￿￿￿bV-the-￿ atdtobe on my e￿￿1￿110￿ of the accounis for the yeat ended 31" Decembet 2021. Responsibilities and basis of report Th¢ charity'5 ttust¢¢s ar¢ r¢sp)nsibl¢ for the preparation of the accounls. The cbaritN g irusiees consider thai an audit is not required for thi.s l'ear ullder seciion 144 of tbe Charlties Act 2011 (the Charities Act} and that an independeni examinaiion is neede(L It is mi. responsibility to.. i) examille the accounts ulldet section 145 of the CILan"ties Acl. ill lo folloii" the p[oCed￿e5 laid doiiTr in the general Lh"rections oiien bl- rhe C]Mn"Th' Con]mig5ion (under section 145{i)(b) of the Chariiies Aci. and iii) to Stat¢ I￿h¢ther panicular matters hai-e com¢ to MN. attention Basis of independent e￿Miner'S statement M!, examinaiion was carried oui m accordance i%'ith oeneral Direction5 4ii.en b!, the Cl￿[11). Conjmission. An examinaiion Includes a re￿ell. of the accouniing records kept bN' Ibe charits. and a comparison of ihe account5 presented iTr'ith those records. It also includes consideration of anN" unusual I(eD￿ OT Ih'sclosures in the accounts. and seeknn(y explanations from the [r￿stee9 concemin? an!. such n]aners. The pr(Kedureg und¢rtak¢n do not proiid¢ all th¢ ¢iid¢nc¢ that isould b¢ rwir¢d in an audit. and consequentl} no opinion Is giijen ag io ￿hether (be accounis present a 'tnJe alld fa￿ 2tLd the report is limiied 10 those maiierg sei out in the statemeni below. Independent examiner's 5talemenl In LonneLlion ￿1th D]!.. elATllll￿1I0n. no maienal m2tier% bal'e come io my 8lleniion M,lll"ch gil'es me cause to believe that in, an). nlaterial respeci.. i) accounting records ￿'ere not kept in accordance iiith section 130 of the Chan"ties Acl or li) th¢ accounts do not accord ii-ith th¢ accounting records I hai"e come across no other matters in conneciion ii.ith ibe eun]inaiion to wkn.ch artention should be drawi in order to enable a proper Understalld￿g of the account5 to be Teached Signed.. Name." Andteiv Hedger FCA A(Idr¢ss." Sei'¢noaks. Kent Dale." I Ith Apnl 2022 19 ST.￿ll>￿E)*".BY.TME-II..4￿DR0BE STATEIIENI OF ￿￿￿￿cL￿L ACTIITtIES FOR THE ¥EARE.NDED 31 DECE.IIBER 2021 Yeir lo Yegi. to 31 Dtttmbtr 2021 31 Dt¢embei' 2 Ik$4Dated Rt5trYrtd Funds I"nre5tiirfed TolAI Total 2 In¢oiniiio resol￿¢¢￿ from donor5 -1 RÈfitrbis]JllJelll PtoJt¢i Illcots 6 St Nlaitw Liid£aTe 4 IDCOllUDE I￿oi￿￿e5 frornopeThtll￿ actiiitie5 1:.9:9 1:.0:9 94.863 94.863 61.695 61.695 Total illcoinlngTes￿￿¢es 43:.1 610.898 161.994 Re￿￿1￿¢5 esptndtd {1.4001 {1.4(K)I {1.4WI {66.064) 1£8.5641 5 Expe00itt￿eots cbantable actiiiiie5 6 St LudEale Reknb15])￿ellrProj¢{1￿W1￿t￿¢ OtherE¥p¢ndinue (89.080) (117 054) Total ￿01￿c¢S e¥pethd (89.080) (11-.0%4) (330.390) Net loulROJD£I ￿￿o￿t(e5 3.080 4.48: 80.4OS 3_5.36 trAllsfeys beN'eeo fiDJ&s. 3(Ml( 3(M).(Mx) Gross tiattsleys beN'een fiDJds- out 13(M).(KK)I 13th).OL¥)I Olh¢Y re(ogJtlse48dlns/los5es -aluatiOnadi115DIietsis 34.3£- 13%._%80 343.080 170.945 4L4NCES BROLGirrFORWARD £69.-.11 71_S.736 544.-,91 4LANCES CARRIEDFORW.4RD 368.081 18:.946 138.4:6 3%8.<%0 1.048.00Tr 20 ST ￿NDREl1'_B￿._THE-%I..1RDR0BE B.4L.INCE SHEET.IT 31 DECEIIBER 2021 Page 5 31 D￿ember 2021 31 December 2020 ISOTES ITrTrEST%IETrIT.ISSETS COIF inTresimeni fund 8 North N'-estTr Trust tni'estment in Clean For Good 275.496 138.4?6 2_i.001 241.140 121.0?4 2_7.001 Total tni'esttnent Assets 438.92i 387.165 CIIU£ENry ASSETS ALcounts ReLiei'able Cash ai bank 15.0(K) 680.225 3,397 325.277 3?8.674 CREDITORS: #mounts f*lling due witbin ODe year: 86.146 103 86.146 10_3 I￿￿T CITRRETr4T.4SSETS 609.079 328_571 I'U'I'AL A55E"'AS LLSS C'[IIU*ar 34.197 10,413 29 CLEAN FOR GOOD LIMITED Balance Sheet as at 31 March 2021 Notes 2021 2020 Flx¢d ass•ts Tangibl¢ ass¥ts 31 31 Current assets Debtors 10 15.191 8.316 Cash at bank hand 92.095 91,412 107,286 99.728 Credltor5 amounts falllng due within one year (29.1701 (40,8411 Net current assets (Ilabllnl¢sl 78.116 58,887 Total a$$ets less Cufrent Ilabllltles 78,116 58.918 Creditors arnounts falling du8 aftèr one y8ar 115,0001 Net asstts 78,116 43,918 Capital and reserves Called up share capital 91.OJ3 91,W3 PTofil and loss a(xx)unt (12,887) 147,085} Shareholders. funds 78,116 43,918 30 The coryany was entitled to exemption from audil for this reporting peri￿￿ under Section 477 of the Companies Act 2006 relating lo Small companies. The members have not required the C￿panY lo ciltain an audrt in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with Ihg reqLriremgn15 Of Ihe Act with respect lo accounting records and the preparation of a¢counls. These accounts have been prepared in attordance with the provisions applKablg to ¢ompanios subject lo the small companies regime. The directors have chosen to not file a copy of tho cc*npany's profft and loss account. The members have agreed to the preparation of abridged a¢wunts for thts accounting pericd in accordan￿ with section 444{2AI. Tho financial statements were approved and authorised for issue by the Board of Diredors on 31 May 2021, and are signed on its behalf by: LAWSON. Martin David Geoffrey Director Registered Company No. 09889100 CLEAN FOR GOOD LIMITED Notes to the Financial Statements for the year ended 31 March 2021 STATUTORYINFORMATION Th¢ ¢ornpany is a FYNate company limited by shares and registered in England and Wabs. The cx)mpanYs registered numter aThJ reglstered off￿e address can be found on the Company Infom*on page. COMPLIANCE WITH APPLICABLE REPORTING FRAMEWORK The financial ststemenls have been prepared On cOmpl￿nce ￿1h FRS 102 Section 1A as il applies to the financAal statements fcff Ihe per¥￿ and tlwe no material dèpartures from lh8 reporting standard. 3. ACCOUNTING POLICIES Property, plant and equipment policy Tan9ible fixed assels are staled at D)St or valuation less dewecialiw. D￿re¢l*lOn Is provided on all tangiblè fjxsd assèts as follows". Revenue recognition policy Turnovef frorn thè Sa￿ olg0￿J$ 1$ rK*)gnLsgd the sigrificant risks arnl rewa¥d$ ol ownership ol the Iwe transfer￿ lo the buyer. TLwnover from thè rèrndèring of seNces is recognised by referen(* lo ￿ stage of completion of the conlracl. The s13ge of CL¥nF4etion of a Contract is mèasured by comparing the costs N￿jrred lor F*rfDnned to date to the total eslimated contract ￿$ts. FO￿ign currency translation and operations policy TransactKJns in foreign currencies are initially reco3ni5ed at thè rate of exchange rulir¥J al the date of the transactiorb. Al the end of rgpoth.ng pertoj foreign ojrrerw rronetsry itern5 ar¢ translated at the closing rate of exchange. Non-rr*)netary items that are measurèd at historical cost are translated at the rate ruling atthe date of Ihè transaction. differertts are charged lo profil ￿l03s. Govemment grants and other government assistance policy Govèmment grants received were wimarily refated to ￿ C￿On8vIl￿6 Jrt) Retentfion Schème with a small amunl daime¢J via the Ststtjlory Sick Pay Rebatescheme. Employee benefits policy Contributions lo defitwd omlribution plans are expensed in thè wi(%t to whicF7 thèy relate. 32 4. DIRECTORS. REMUNERATION One direetsr of ihe company reL*ived reftumerBtK)n from the com￿anY totalling £39,799 in the yeaf in the fomi of salary and pensify) contritr4Jb"ons. EMPLOYEE INFORMATION 2021 2020 Average number of ernployees durfrKJ the ye 37 37 6. TAXATION A current tsx Ilab￿lty Is recognised for Ihe tax payable on Ihe taxable profit of the aJ￿ent and past pericxls. A current lax asset is rel￿nISed in ￿Spect of a tax loss that can be caffied back lo recover lax paid in a wevious period. Clean for Good takes rts respK*¢sibilit*$ as a corwate dtizen seriously. including the payment of corporation tax. This stalemenl prowdes addits.onal infornialK)n whith aims to ensure that Clean for Go¢JJ Limlled meets the standards an¢ iequirements of Ihe Fair Tax Mark's UK Small BusSness Slandard. We were awarded the Fair Tax Mark for a Feriod of 12 months in November 2020, and interMJ to r&apply 8ach year. Tax Policy The Corryany is committe¢J to pawwj all the tsxes Ihat we c￿e rn accordanrE with the 5pril of all tax laws thal apply to our operations. We believe that payiTrJ ovr laxes in this way is the dearest indication we can give of being responsib￿ parbopants in society. We will lulfil ouf ￿MMitT￿ent to paying the appropriate taxes that we owe by seèkn.ng to pay the right amount of tax. in the right place. and at the right time. We arn to do this by ensurir#J that we report our tax affairs In ways that reflect the economic reality of the transactions thal we undertake during course of our trade. We will not seek lo use those options made avaiLable in t&% law. or the alloNYances and reliefs that provldes, in ways that are contrary to the spirit of the kw. Nor will we uTrJertake specific transactions w*lh the sole or main aim of securing tax advantages that would othetwise not be available to us based on the reality of the trade that we undert2ke. The C￿￿anY will nev8r undertake transactions that ￿)Uld require noufication to HM Revenue & Customs under the Disck*sure of Tax Avoidance sC￿mes Regulations or participale in any arrangement to which il might be reasonably anticipated that Ihe UK'S General Anti-Abuse Rule might app￿. We believe tax havens undermine the UK'S tax system. As a resulL whilst we may trade with customers and sup￿lers genuinely localed in ￿3C8S conswjered to be tax haven5, we will not make use of those pla￿S to securÈ a advantage, and nor will we lake advantage of the secrecy that many wch jurisdictr.￿S provide for transacltons rec£Jrded within Ihem. OUT aLxxJunts wlll b8 prapared in (x>mpliancs with this policy and will seek to wovide all the infomiation that use￿. including HM Revenue & Cvsloms. might neeil lo properly appraise our lax pJs((ion. 33 PROPERTY. PLANT AND EQUIPMENT Total Cost or ¥a￿atIon Al 01 April 20 370 Al 31 March 21 370 Depreclation and Impalnnent At 01 April 20 339 Charge for year 31 Al 31 Marth21 370 Net book value At 31 March 20 31 8. DIVIDENDS PROPOSEO AND PAYABLE Ownershlp and Structure The Company is a private lirniled company. ormjinally established in 2015, wf(h the prinupal activity of gerberal building d&aning services.. however. from an ethical standpolnt. Shareholdars with more than 10% 01 the Company are as lollows.. Church Mission s￿Iety fcMS"1- 32.97% Th8 Parish ol Sl Andrew by the Wardrobe ('PSAWI - 27.47% steph¢n Hubner- 16.48% Centre fL* Theology & Community l°CTC'I - 10.99% David Ingall- 10.99% Only CMS, PSAW, and CTC. can vote ￿ the th"stril￿tIOn of divKlends- and all three charitbès share this voting power equalty. The registered office address of the Company Trs also the tradiNJ athjress of conwany. 34 FURTHER INFORMATION REGARDING THE COMPANYS FINANCIAL POSITION rtin OIC rats.on Taxliabili Average ofil t)efore tax.. 7.411 Avera eex ected co atton tax usled b Aeceleraled ea r(al allowane*s'. DI8albWab￿ ex enses.. 197 Pension ad'ustrnents.. 133 Less L055es Carr￿ forward: 7.741 Aver current tax c*ar As al 31 March 2021, the Company had rKJ deferred lax assets or l￿bI1rtle$,. and over the three years 2019 10 2021. there were no movements in deferred tax exFen5ed or credrted io the wofit and loss account. Notes to table 1. Accelerated ¢apital allowances- The accounting treatmenl of ca￿tal assets is usually diffwent than Iho tax treatment allowablg. This is because. in the a¢￿unts, an asset is depreciated over itsuseful e¢onomi¢ lrfe. Whereas caprtal allowan¢es - are set rules in tax law- appli&J lo Ihè type ofasset rather Ihan the ecoTh)mK life of the asset Igengrally speakiTha). differ8n¢es. however. between Ihe depreuatson rale in the accounts 3rKI capital allovrdnce5 daimed in corwabon la¥ relyrn- a￿ only timing diffefences- as evenlually. Ihg accumulative deweaati￿ and tho capital allowances clairned w￿1 equal one another. 2. Disallowable exptrnses- soff￿ business expenses, although entirely approprlate k indusionin the ￿por￿n9 entily's accou￿t5. are not 811owed as a deductioll against trxaE￿e in¢ome vA)en ¢alcubb"rrfJ the tsx liability. Examples of suth expenses afe.. dient entertaining.. fines and penalt￿.. capiial expenditu￿ (which is subiecl lo cap((al allowances instead}. 3. Penslon adjustments- tax relief is given on a paid ba8is. If there is a pensitin creditor or acErual in the accounts {i.e. not yet paid). Lhen this will be adjusted for in Lxrfnpuling th$ tsKablew)fitrJk)sses ￿ the reportng enlity. 4. Losses ¢atTie(J f(Thard- tax losses w be ￿ried forward and relieved ￿ainst fulure profils.so that the ￿rrect amount of Lix is apFlied lo the overall hist￿¢ prDfits generated. Once the taxlosses have ￿1 t*en used. tax will then beC￿ne chargeable on the profits generated thereafter. 10. DEBTORS Short temi debtors are mewred at tran$adI￿ pric¢ (whith is usually Ihe invoKe pri￿1. less any impairrnenl losses for bad aTrJ doubtfvl debts. Loans and other financ¢al as5e15 we initially r￿gnised at transadion price including any transacti￿ costs and svbsequen15y measured al amortÈs8d cost delermlned using the effective interest methijj. less any impairment losses for bad and doubthil debts. 2021 2020 10 35 Tiade dgbtors I trade receIvab￿S 14.635 2.116 Prepaymenls ano xcrued inc(%ne 556 6.200 Total 15.191 8.316 11. CREDITORS WITHIN ONE YEAR Short le￿n creditor5 are measured al transaction price Iwhi¢h is usually lh8 invoice price). Loans an¢J other financlal liabilib'es are initially rfrcctyjnised at transaction price n8t of any transaction costs and subs8quenUy measured at amrytysed o)st determined using the effective interest mathod. 2021 2020 Trade c¥editors l trade payables 3.397 3,788 Taxatson and sockgl seoJnty 25.173 35.628 Accrued Ilabililles and deferred Incomo 600 1.425 Total 29.170 40.841 11 36