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2021-12-31-accounts

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF GREAT ST BARTHOLOMEW

WEST SMITHFIELD IN THE CITY OF LONDON

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

PAROCHIAL CHURCH COUNCIL OF GREAT ST BARTHOLOMEW

PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

CONTENTS

Page
Annual report of the Parochial Church Council 1
Independent Examiner’s Report 8
Statement of Financial Activities 10
Balance Sheet 11
Statement of Cash Flows 12
Notes to the Financial Statements 13

PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

The Parish of Great St Bartholomew, London EC1 7JQ

Rector

The Reverend Marcus Walker

The Hospitaller

The Reverend Jonathan Livingstone (until June 2021) The Reverend Evan McWilliams (from August 2021)

Churchwardens Roy Sully Iain Bailey

Parish Clerk Roy Sully (SBG) Paul Simmons (SBL)

Director of Music Rupert Gough

Surveyor to the Fabric Martin Ashley

Address

SBG Parish Office, Church House, Cloth Fair, London, EC1A 7JQ

Bankers

HSBC, 31 Holborn, London, EC1N 2HR

Independent Examiner

J Tyrrell RPG Crouch Chapman LLP, 5[th ] Floor, 14-16 Dowgate Hill, London EC4R 2SU

Aim and Purposes

The Parochial Church Council is a body corporate and a registered charity (no 1163024) with effect from 5 August 2015 following the Pastoral Scheme of the Church Commissioners, effective from 1 June 2015, which united the parishes of St Bartholomew the Great and St Bartholomew the Less in a single Benefice and Parish. Its primary functions (as defined by the Synodical Government Measure 1969) are consultation with the Rector on matters of general concern and importance to the parish and co-operation with the Rector in ‘promoting in the parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical.’ It has overall responsibility for the financial affairs of the Church and for the care, maintenance, preservation and insurance of the fabric of the church and of its goods and ornaments. It has power to frame a budget, raise, collect and allocate moneys, levy and collect a voluntary church rate, and to employ staff.

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PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

PCC members are elected by the Annual Parochial Church Meeting. The Parish Office facilitates the induction of new members.

Membership

Members of the PCC fall into three categories—ex officio, elected and co-opted. The Rector and Churchwardens, and the representatives of the Parish on the Deanery Synod, are ex officio members. Co-options are for one year at a time.

During the period covered by this report, the PCC comprised the following:

Ex officio Details

The Rector The Hospitaller

Iain Bailey Churchwarden Roy Sully Churchwarden Christin Cockerton Deanery Synod from September 2020, re-election due 2023 *Nicholas Riddle Deanery Synod from September 2020, re-election due 2023 Sophy Tuck Deanery Synod from September 2020, re-election due 2023 Elena Unger* Deanery Synod from September 2020, re-election due 2023

Elected Details

Amelia Braddick Re-election due 2024 Tracey Braddick Re-election due 2024 Jack Drury Re-election due 2024 Jack Falkingham Re-election due 2022 (Treasurer) *Glynn Huaraka Re-election due 2023 Joseph Hutchinson Re-election due 2022 Michael Jones Retired 2021 Jo Joyce Re-election due 2023 Ian Kelly Retired 2021 Sarah Kelsey Re-election due 2023 Henry Mitson Re-election due 2023 Christian Moon Re-election due 2024 Lilian Reid Re-election due 2023 (Vice Chair) *Andrew Roberts Re-election due 2022 Paul Simmons Re-election due 2022 Charles Spanton* Re-election due 2022

Co-opted Details

Ian Kelly

_ indicates members of the Standing Committee at any point in the year._ Names in Bold* are of members in office at the end of 2021.

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PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

Objectives and Activities

Our charitable purpose is the promotion within the parish of the whole mission of the Church. This includes specifically religious activities, the relief of poverty, the promotion of the arts, and the conservation of our heritage. During 2021 the PCC, in accordance with its Fundamental Policies, has ensured the provision of:

It has also expended resources on:

Achievements and Performance

2021 began in an inauspicious way. The third national lockdown began, and far more members of the congregation, those in London and those spending lockdown elsewhere, fell ill. There was a serious debate as to whether churches should take up the government’s permission to remain open and continue to offer acts of worship. We resolved unanimously to stay open, while resolving to suspend all rotas so that nobody would feel under any pressure to turn up on any Sunday if they were feeling concerned.

The continued sacramental ministry throughout this lockdown, and the decision to remain open and (most especially) free of charge, meant that over the year we saw significant increases in the number of people visiting the church and attending services. Before Covid, while we were charging £5 for entrance, our average number of visitors was 22 a day. By November, before the Omicron variant arrived, we were receiving an average of 71 visitors a day – an enormous increase, which has since then more than doubled with the return of international tourism!

Numbers attending our services have also increased. Before Covid, numbers attending the Eucharist averaged between 50 and 80; those attending Evensong between 35 and 50. Both of these have jumped up a gear, with the Eucharist now averaging between 80 and 110 and Evensong between 50 and 70. Although the appearance of the Omicron variant in December meant that worship over Christmas was lower than hoped for, the joy of being able to celebrate all of our carol services was enormous. Holy Week and Easter fell just at the end of the full lockdown, which meant we put on a fully-formed online offering, which was pre recorded, and a full in person offering. This was exhausting, but wonderful to look back on once finished.

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PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

This reflects the fact that we now have a new metric to consider: those watching services online. We get a pretty solid 2-300 watching each service, with a third staying right to the end. Interestingly only about 20 watch them live. One thing we have noticed is how almost every week someone stops to talk at the door and notes how they have been joining us for worship online and how nice it is to be here in person. From a rushed start at the beginning of the pandemic, our online provision has become a part of our ministry and this is reflected in the investment we have made in equipment and skills. As we consider how to develop our mission and ministry over the next few years, one really important group not to ignore is those who are a part of our non-residential congregation.

It is also worth noting that the children’s presence in our Palm Sunday service online was a wonderful way to celebrate one of the most vibrant parts of parish life: the family service at 10am in St Bartholomew the Less. Five of the children from that service were confirmed in October, which was a wonderful reflection of the way they have helped craft and create that service and play a full part in each Sunday’s Eucharist.

The growth in our provision and outreach has meant we have needed to sharpen up the way in which we operate as a church, both in terms of volunteers and paid staff. Within the PCC we implemented a new structure, with the creation of executive committees, with delegated powers and budgets to spend, along with a ‘cabinet’ structure for the committee chairs to be able to meet regularly. We have since been joined by volunteers from the congregation to take a really active part in the life of the church, most especially the Visitor Experience Committee and the Music and Events Committee. The creation of a budget, to be periodically assessed against actual income and expenditure over the year, has offered an additional financial control and tool to help perform our fiduciary duty with clearer sight.

Increasingly dominating the life of the church is the forthcoming 900[th ] anniversary of the church. Tracey Braddick has driven the 900[th ] Anniversary Committee, and its multiple subcommittees, as we prepare a panoply of exciting events for the whole congregation over the anniversary year. On top of this, we have launched a major fundraising campaign to set the church on a sound financial footing for the next century – working imaginatively to work out how to cover the £2 million worth of essential repairs needed for both churches, utilise the under-used spaces in the church, and set up an endowment to fund the choir and our choral tradition into the next century. After being launched there have been dozens of information events for members of the congregation and a rallying around different aspects of the scheme from the City and the Hospital.

Although most of the church’s repairs are earmarked to be funded by the 900[th ] appeal, the Lady Chapel roof became a matter of urgency over the last two years and, thanks to Roy Sully’s hard work, we were able to raise the money needed for the repairs and get the work started. Although planned to be finished by August 2021, a major hiccough emerged when one beam needed to be completely replaced and it transpired that all of the requisite wood had been reserved for the repairs to Notre Dame Cathedral in Paris. Months of delay ensued but all was right in the end and the scaffolding came down two days before Christmas!

Using Iain Bailey’s expertise, the staffing at church has been transformed and, after Eloise Harris moved across the road to work for The Worshipful Company of Founders, he embarked on a process of working out the needs of the church to set us up for interviews for a new Weddings & 900[th ] Anniversary Administrator and Church Manager. Working closely with Gordon Furry and Susy Maria-Jesus Rodriguez Freire at the front desk, the church is well set for our busiest few years of the century. A big thank you to Eloise Harris and to Andrew Miller, who came as temporary Church Managers over the winter, for all their work over the year.

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PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

Among the clergy, 2021 saw Fr Jonathan Livingstone explore his vocation to become a fulltime hospital chaplain, leaving at the end of June. His hard work and dedication in the hospital laid the groundwork for the new Hospitaller’s position and his ministry to many in the church community has been much missed. His position was swiftly filled by Fr Evan McWilliams, ensuring a smooth transition and demonstrating the strength of the relationship between the church and the hospital.

Overall this year has seen the church rise to the challenge of the pandemic and increase our reach into the communities we serve, in person and online, occasional and regular. Financially we have surprised ourselves by becoming much more secure than we were before the pandemic, and look to reinforce this with a strong campaign around the 900[th] anniversary. The team that keeps the church alive – volunteer and paid – is in good heart and looking forward to celebrating nine hundred years with great aplomb. May God send his blessings on us over these next few years.

Financial Review

The financial statements have been prepared in accordance with 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 from 1 January 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, Church Accounting Regulations 2006 and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective from 1 January 2019.

As set out in the statement of financial activities on page 10, the overall resources of the PCC increased by £44,958 which is made up of a surplus of £69,862 on unrestricted funds as opposed to a deficit of £24,904 on restricted funds. Despite the challenging circumstances during the year, there was an increase in income from donations and legacies. 2021 also saw an increase in income from weddings and livery services as well as increased activity from concerts and filming income. The bookstall and cloister café both experienced increased levels of trading activity. The church expenditure was carefully managed during the year and costs were controlled as far as possible. Overall, the results for 2021 have strengthened the financial position of the Parish.

Reserves policy

The PCC has a policy to maintain unrestricted reserves at a level of £100,000 to cover unplanned emergency repair work and other expenditure. The unrestricted reserves as at 31 December 2021 stood at £169,785. The PCC is committed to monitoring expenditure and identifying further cost reductions wherever possible in the forthcoming years as well as continuing to develop new income sources.

Going Concern Policy

Having assessed the Charities' financial circumstances the trustees have a reasonable expectation that the charity has adequate resources to continue its operations for the foreseeable future.

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PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

Fundraising

All fundraising activities have been co-ordinated from the Parish Office. We have sought to raise funds through the Parish Stewardship scheme and by launching appeals for specific purposes.

The fundraising for the 900[th ] anniversary project commenced during 2021 with the assistance of a professional corporate fundraiser. The fundraising plan has been created over a five-year period and as anticipated, the expenses incurred in 2021 exceeded the donation income resulting in a year-end deficit of £43,320. This was acknowledged as temporary by Trustees and remediated in 2022 with a programme of donor information evenings, reduction in professional costs, and confirmation of an expected donor that returned the campaign to a surplus position.

During the year, the church did not receive any complaints about its fundraising activities and practices.

Risk assessment

The PCC’s risk assessment and management policy has again been reviewed during the year as have its insurances. Risks are considered in terms of the wider environment in which the PCC operates. The financial climate, society and its attitudes, the natural environment and changes in the law, technology and knowledge will affect the types and impact of the risks to which the PCC is exposed.

Safeguarding policy

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 the House of Bishops’ guidance on safeguarding children and vulnerable adults.

Investment policy

Funds held for the short term are invested in CBF Church of England deposits; and for longer term in CBF Church of England investment funds.

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PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

Trustees’ Statement of Responsibility in Relation to the Accounts

The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

On behalf of the PCC

(Chairman)

May 2022

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PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

Independent Examiner’s Report

To The Parochial Church Council of Great Saint Bartholomew

I report on the accounts of the Parochial Church Council of Great Saint Bartholomew for the year ended 31[st ] December 2021.

This report is made solely to the charity’s Trustees, as a body, in accordance with section 145 of the Charities Act 2011 and regulations made under section 154 of that Act. My work has been undertaken so that I might state to the charity’s Trustees those matters I am required to state to them in an Independent Examiner’s Report and for no other purposes. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s Trustees as a body, for my work or for this report.

Respective Responsibilities of Trustees and Examiner

The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (“the Charities Act”) and that an independent examination is needed. The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales.

It is my responsibility to:

Basis of Independent Examiner’s Report

My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

Independent Examiner’s Statement

In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:

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PAROCHIAL CHURCH COIINCIL OF CREAT SAINT BARTHOLOt*lEW * the accounts did not accoi'd with the accounting records- or * th¢ accounts did not comply with the applicabl¢ r¢qiiiremcnts concerning ihe forn] and coiitent of aLcounls sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examinatkon. I have come across no other matters in connection with the examination to which attenrion should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Sxgned: Date: JEREMY TYRRELL RPG CROUCH CHAPMAN LLP Chartered Accountants 14- 16 Dowgate Hill London EC4R 2SU

PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

STATEMENT OF FINANCIAL ACTIVITIES

Note
Incoming resources
Donations and legacies
3
Charitable activities
4
Trading activities
5
Income from investments
6
Other income
7
Total incoming resources
Resources expended
Charitable activities
8
Trading activities
9
Total resources expended
Net (gains) / losses on investments
13
Net incoming/(outgoing) resources
Transfers between funds
Net movement in funds
Balances brought forward at 1
January 2021
Balances carried forward at 31 December
2021		 Unrestricted
funds
£
284,028
117,823
8,938
1,492
5,121
417,402
340,424
3,266
343,690
3,850
69,862
-
69,862
99,923
169,785		 Restricted
funds
£
395,546
-
-
571
-
396,117
-
423,336
-
423,336
(2,315)
(24,904)
-
(24,904)
120,800
95,896		 Total
funds
2021
£
679,574
117,823
8,938
2,063
5,121
813,519
763,760
3,266
767,026
1,535
44,958
-
44,958
220,723
265,681		 Total
funds
2020
£
351,953
15,405
1,294
2,531
54,046
425,229
420,700
6,677
427,377
(3,001)
853
-
853
219,870
220,723

All recognised gains and losses have been included in the Statement of Financial Activities and the amounts included are derived entirely from continuing activities.

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PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

BALANCE SHEET AT 31 DECEMBER 2021

Note
Fixed assets
Tangible fixed assets
12
Investments
13
Current assets
Stock
14
Debtors
15
Short term deposits
Cash at bank and in hand
Creditors due within one year
16 (a)
Net current assets
Creditors due after one year
16 (b)
Net assets
Funds
Unrestricted funds
Restricted funds
20		 2021
£
15,593
76,031
91,624
3,608
78,693
28,709
229,350
340,360
(51,303)
289,057
(115,000)
265,681
169,785
95,896
265,681		 2020
£
13,037
81,995
95,032
806
36,034
27,159
149,774
213,773
(23,082)
190,691
(65,000)
220,723
99,923
120,800
220,723

The financial statements on pages 10 to 26 were approved by the Parochial Church Council on 18 May 2022 and signed on its behalf by:

The Revd Marcus Walker Chairman

Jack Falkingham Treasurer

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PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

STATEMENT OF CASH FLOWS

Note
Cash used in operating
activities
22
Cash flows from investing
activities
Interest and
dividend income
Disposal of
investments
Acquisition of
investments
Purchase of tangible fixed
assets
Cash provided by (used in) investing
activities
Increase/(decrease) in cash & cash
equivalents in year
Cash and cash equivalents at the beginning of
the year
Total cash and cash equivalents at the end of
the year		 2021
£
82,155
2,063
4,900
(471)
(7,521)
(1,029)
81,126
176,933
258,059		 2020
£
(7,308)
2,531
-
(462)
(1,433)
636
(6,672)
183,605
176,933

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PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

1. Summary of significant accounting policies

a) General information and basis of preparation

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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) issued on 16 July 2014, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, Church Accounting Regulations 2006 and UK Generally Accepted Practice as it applies from 1 January 2015.

The financial statements have been prepared on a going concern basis under the historical cost convention except for the revaluation of investment assets, which are shown at market value. The financial statements are prepared in sterling and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

b) Funds

Unrestricted funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application to the general purposes of the PCC. Designated funds comprise unrestricted funds that have been set aside by the PCC for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are those which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the PCC for particular purposes. The aim and use of each restricted fund is set out in the notes to the financial statements. The accounts do not include the accounts of church groups that owe their main affiliation to another body nor of those that are informal gatherings of Church members.

c) Income recognition

Income from donations including open plate collections at services is recognised on receipt.

Planned giving receivable under Gift Aid is recognised only when received and the related income tax recoverable is accrued.

Legacy income is recognised when the PCC becomes aware that probate has been granted, there are sufficient assets in the estate to pay the legacy and that any conditions attached to the legacy are either in the control of the PCC or have already been met. On occasion legacies will be notified where it is not possible to measure the amount expected to be distributed with sufficient reliability. On these occasions, the legacy is treated as a contingent asset and disclosed.

Income from other charitable activities such as weddings, memorial services, livery services etc. is recognised at the date of the service.

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PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

Income from trading activities includes income from fundraising events and trading activities to raise funds for the PCC. Income is received in exchange for supplying goods and services and is recognised when entitlement has occurred.

Rental income from the letting of church premises for concerts, filming and other events is recognised when the rental is due.

Interest entitlements are accounted for as they accrue.

d) Expenditure recognition

All expenditure is accounted for on an accruals basis. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:

e) Fixed assets

Consecrated land and buildings and moveable church furnishings Consecrated and beneficed property is excluded from the accounts by Section 10(2)(a) of the Charities Act 2011.

Movable church furnishings held by the Rector and Churchwardens on special trust for the PCC, and which require a faculty for disposal, are accounted for as inalienable property unless consecrated. For inalienable property acquired prior to 31 December 2000 there is insufficient cost information available and therefore such assets are not valued in the accounts. Items acquired since 1 January 2001 are capitalised and depreciated in the accounts over their expected useful economic lives on a straight-line basis.

Cloister, organ, computer and other equipment

Equipment used within the church premises is depreciated on a straight-line basis over 10, 5 and 3 years, depending on the nature of the equipment. Small items of equipment are written off when the asset is acquired.

f) Investments

Investments are measured at fair value at each balance sheet date with changes in fair value recognised in 'net gains / losses on investments' in the SoFA.

g) Stocks

Stock is included at the lower of cost or net realisable value after making due allowance for any obsolete or slow-moving items.

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PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

h) Financial instruments

The church only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

i) Debtors

Trade and other debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid.

j) Short term deposits

Short term deposits include cash held on deposit either with the CBF Church of England Funds or at the bank.

k) Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

l) Taxation

The PCC meets the definition of a charity for UK tax purposes and is therefore not subject to tax on its income providing it is applied for charitable purposes.

m) Critical accounting estimates and areas of judgment

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. However, the trustees are of the opinion that there are no estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

n) Going Concern

The PCC consider that there are no material uncertainties about the ability to continue as a going concern.

2. Legal status of the PCC

The PCC is a body corporate under the provisions of the Parochial Church Councils (Powers) Measure 1956.

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3 Income from donations and legacies

PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

Stewardship and other planned giving
Collections at all services
Sundry donations
Income tax recoverable
Grants
Legacies		 2021
2021
2021
2020
2020
2020
£
£
£
£
£
£
Unrestricted
Restricted
Totals
Unrestricted
Restricted
Totals
81,953
-
81,953
72,939
-
72,939
111,522
-
111,522
58,536
-
58,536
31,676
103,004
134,680
63,679
16,795
80,474
39,283
27,577
66,860
33,013
2,787
35,800
16,554
262,965
279,519
30,718
41,726
72,444
3,040
2,000
5,040
500
31,260
31,760
284,028
395,546
679,574
259,385
92,568
351,953

4 Income from charitable activities

Income from weddings, blessings, funerals,
Parish fees
Church Fair income / Raffle
Fundraising events
Concert lettings, films and other events		 2021
2021
2021
2020
2020
2020
£
£
£
£
£
£
Unrestricted
Restricted
Totals
Unrestricted
Restricted
Totals
34,463
-
34,463
6,694
-
6,694
4,073
-
4,073
1,421
-
1,421
-
-
-
-
-
-
-
-
-
-
-
-
79,287
-
79,287
7,290
-
7,290
117,823
-
117,823
15,405
-
15,405

5 Income from trading activities

Admission fees & guided tours
Bookstall
Cloister café		 2021
£
Unrestricted
753
4,442
3,743
8,938		 2021
£
Restricted
-
-
-		 2021
£
Totals
753
4,442
3,743
8,938		 2020
£
Unrestricted
196
910
188		 2020
2020
£
£
Restricted
Totals
-
196
-
910
-
188
-
1,294
- 1,294

6 Income from investments

Interest on cash deposits
Interest and dividends
on investments		 2021
£
Unrestricted
71
1,421
1,492		 2021
£
Restricted
-
571		 2021
£
Totals
71
1,992
2,063		 2020
£
Unrestricted
194
1,774		 2020
2020
£
£
Restricted
Totals
-
194
563
2,337
563
2,531
571 1,968

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PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

7 Other income

Insurance claim
Furlough grant income
Miscellaneous		 2021
2021
£
£
Unrestricted
Restricted
2,500
-
2,575
-
46
-
5,121
-		 2021
£
Totals
2,500
2,575
46
5,121		 2020
£
Unrestricted
16,357
30,119
7,570		 2020
2020
£
£
Restricted
Totals
-
16,357
-
30,119
-
7,570
-
54,046
54,046

8 Resources expended on charitable activities

Ministry:
Common Fund
Other costs of liturgical services
Other clergy related costs
Costs directly attributable to charitable activities
Music costs - Sundays & other parish services
Church running expenses, repairs & maintenance
Parish Office costs:
Personnel costs
Administrative expenses
Church Fair / Raffle expenses
Governance costs - Accountancy fee
Legal and professional
Bank charges and interest
Depreciation and loss on disposal
100 Club prize draw
Charitable donations		 2021
£
Unrestricted
85,200
9,853
6,812
1,413
77,571
34,706
83,419
25,137
-
2,251
3,190
3,907
4,965
-
2,000		 2021
£
Restricted
-
-
59,204
-
10,845
202,634
-
-
-
-
147,264
321
-
400
2,668		 2021
£
Totals
85,200
9,853
66,016
1,413
88,416
237,340
-
83,419
25,137
-
2,251
150,454
4,228
4,965
400
4,668
763,760		 2020
£
Unrestricted
85,200
28,057
816
182
57,675
47,455
87,781
16,518
-
3,220
5,545
5,009
3,819
-
90		 2020
2020
£
£
Restricted
Totals
-
85,200
-
28,057
24,685
25,501
-
182
6,549
64,224
4,807
52,262
-
-
87,781
-
16,518
-
-
-
3,220
42,892
48,437
-
5,009
-
3,819
400
400
-
90
79,333
420,700
340,424 423,336 341,367

17

PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

9 Resources expended on trading activities

Doorkeeper costs
Bookstall costs
Cloister café costs		 2021
2020
£
£
-
6,570
865
107
2,401
-
3,266
6,677

10 Analysis of staff costs, trustee remuneration and expenses

Salaries and wages
Social security costs
Pension contributions		 2021
2020
£
£
79,177
89,469
2,554
2,845
1,469
1,812
83,200
94,126

No employees had employee benefits in excess of £60,000 (2020: nil)

The PCC trustees were not paid or received any other benefits from employment with the PCC or its subsidiary in the year (2020: £nil) neither were they reimbursed any expenses during the year (2020: £nil)

The following payments were made to members of the PCC for professional services supplied to the PCC: Mr N Riddle £270 for services as an organist and Director of Music (2020: £nil)

11 Staff numbers

The average monthly headcount was 4 staff (2020: 5 staff) and the average monthly number of fulltime equivalent employees (including casual and part time staff) during the year was as follows:

Charitable activities
Trading activities		 2021
number
3.5
0.5
4.0		 2020
number
4.0
0.5
4.5

18

PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

12 Tangible fixed assets

Cost
At 1 January 2021
Additions
At 31 December 2021
Depreciation
At 1 January 2021
Charge for the year
At 31 December 2021
Net book value
At 31 December 2021
At 31 December 2020		 Computer
and office
equipment
£
42,838
5,680
48,518
30,530
4,809
35,339
13,179
12,308		 Cloister
Totals
£
£
62,283
105,121
1,841
7,521
64,124
112,642
61,554
92,084
156
4,965
61,710
97,049
2,414
15,593
729
13,037

13 Investments

At 1 January 2021
Additions
Reduction in share capital
Annual revaluation
At 31 December 2021
At 31 December 2021 - cost		 Central Board
of Finance
£
58,353
-
(3,850)
54,503
54,503		 Huntington
Legacy
£
18,642
471
2,315
21,428
3,557		 Subsidiary
Company
Totals
£
£
5,000
81,995
-
471
(4,900)
(4,900)
-
(1,535)
100
76,031
100
58,160

The investments with the Central Board of Finance of the Church of England are 34,497 (2020: 34,497) units in the Fixed Interest Securities Fund.

19

PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

13 Investments (continued)

The Huntington Legacy comprises investments held on trust by the London Diocesan Fund in respect of that legacy and at 31 December 2021 amounted to:

789.80 Investment Shares
Deposit account		 Cost
Market
Value
£
£
624
18,495
2,933
2,933
3,557
21,428

The PCC holds 1000 shares of £1 each in its wholly owned trading subsidiary company St Bartholomew Enterprises Ltd which is incorporated in the United Kingdom. These are the only shares allotted, called up and fully paid. The company has not traded during the year.

14 Stock

Bookstall stock
Cloister café stock		 2021
2020
£
£
2,622
680
986
126
3,608
806

15 Debtors

Debtors for goods and services
Grant receivable
VAT recoverable
Income tax recoverable
Prepayments		 2021
2020
£
£
26,210
528
12,500
7,708
9,691
1,777
11,670
5,089
18,622
20,932
78,693
36,034

20

PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

16 (a) Creditors due within one year

Creditors for goods and services
Other taxation and social security
Accruals and deferred income
16 (b) Creditors due after more than one year
St Bartholomew the Great Heritage Trust loan
St Bartholomew's Gatehouse Trust loan		 2021
2020
£
£
37,133
9,697
2,182
2,554
11,988
10,831
51,303
23,082
2021
2020
£
£
65,000
65,000
50,000
-
115,000
65,000

Details of these two loans are shown in note 19.

17 Repairs

No provision has been made in these financial statements in respect of liabilities for maintenance of the buildings. The most recent quinquennial inspection was undertaken in February 2022 and a planned maintenance programme for the necessary works will be put in place as required.

21

PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

18 Restricted funds

Fund
Carol Singing
Choral Scholarships
Education Project
Lent Appeal
900th Anniversary Project
SBL Ministry
Fund
Carol Singing
Education Project
Evensong in the City
900th Anniversary Project
SBL Ministry
St Bartholomew the Less
Friends of St Bartholomew the Less
St Bartholomew the Great
100 Club
Beddington Fund
Butterworth Charity
Choir and Music Fund
Columbarium Fund
Fabric Fund
Huntington Legacy
Idie's Flower Fund
Lady Chapel
Roof Fund
Choir and Music Fund
Columbarium Fund
Fabric Fund
Huntington Legacy
Idie's Flower Fund
Lady Chapel
Roof Fund
Beddington Fund
Butterworth Charity
St Bartholomew the Less
Friends of St Bartholomew the Less
St Bartholomew the Great
100 Club		 Balance
1.1.21
Revaluation
£
£
-
-
-
-
701
-
1,325
-
24,711
-
-
-
3,200
-
1,200
-
17,683
-
18,643
2,315
2,200
-
655
-
-
-
19,451
-
171
-
28,540
-
2,320
-
120,800
2,315
Balance
1.1.20
Revaluation
£
£
-
-
-
-
701
-
-
-
-
-
3,100
-
1,200
-
-
-
11,509
-
17,139
1,041
2,100
-
655
-
31,184
-
-
-
30,521
-
7,852
-
105,961
1,041
Movement in Funds
Movement in Funds		 Transfers
£
(870)
-
-
-
-
-
-
-
870
-
-
(655)
-
655
-
-
-
-
Transfers
£
(800)
-
-
-
-
-
-
-
800
-
-
-
-
-
-
-
-
– 2020
– 2021		 Income
£
1,270
-
15
1,625
100
-
1,050
471
100
-
1,343
263,763
63,915
2,000
60,465
396,117
Income
£
1,200
-
-
1,325
31,260
100
-
-
8,000
463
100
-
16,757
14,573
200
19,153
93,131		 Balance
Expenditure
31.12.21
£
£
(400)
-
-
-
-
716
(1,325)
-
(10,245)
14,466
(600)
1,025
-
3,300
-
1,200
(2,975)
16,628
-
21,429
-
2,300
-
-
(1,343)
-
(239,838)
44,031
(107,406)
(43,320)
-
30,540
(59,204)
3,581
(423,336)
95,896
Balance
Expenditure
31.12.20
£
£
(400)
-
-
-
-
701
-
1,325
(6,549)
24,711
-
3,200
-
1,200
-
-
(2,626)
17,683
-
18,643
-
2,200
-
655
(28,490)
19,451
(14,402)
171
(2,181)
28,540
(24,685)
2,320
(79,333)
120,800

22

PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

18. Restricted funds (continued)

The 100 Club was started in 2008 as a means of raising money to support the work of the Priory Church. Members pay £10 per month into a fund, from which 16.7% is taken annually in four instalments to provide cash prizes in various denominations to the club's members. The remainder of the cash in the fund is available for fabric projects. This is treated as a restricted fund to maintain visibility of the project and to manage control of the prize component of the fund.

The Beddington Fund was set up to establish ongoing links with people who are married in the Church. It involves a one-time joining fee, and fees for events organized for the members of the Society to bring them together. There were no activities during 2021.

The Butterworth Charity is distributed every Good Friday, generally in the form of hot cross buns. The income derives from collections at the service.

The Carol Singing Fund was set up to receive the donations from the Parish's carol singing events and the monies collected are to be donated to specific nominated charities.

The Choir Fund was established to receive funds towards the costs of the choir for special services.

The Choral Scholarship fund provides funding to allow music students to gain experience of participating in the choral traditions of the Parish.

The Columbarium Fund represents deposits received against future sales of niches when the Columbarium is built.

The funds for the Education project are to be applied to enhancing the educational material in the two churches of the Parish.

The Fabric Fund is held for fabric projects and repairs and is financed by a share of collections held at special services and by specific donations and legacies.

The Huntington legacy is represented by specific investments, as explained in note 15, which are under the control of the London Diocesan Fund. Under the terms of the bequest the fund is to be applied for major unexpected repairs to the fabric of the Priory Church. The fund received interest in the year and was revalued upwards.

Idie's Flower Fund was formed as a result of a generous bequest by the late Iris V. Wharton. Additions are made to the fund from time to time from specific fund raising events, donations for flowers and from interest on the fund's bank account. The income of the fund is used to provide flowers for services on those occasions when flowers are not provided from external sources.

The Lent Appeal was established for the collection of donations to support the nominated charity during the Parish's Lent Appeal.

23

PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

The Roof Fund was established to fund the necessary works identified in the quinquennial report of 2009. Substantial repairs were carried out to the Quire roof with the second stage of the project being completed in 2012. The remaining funds have been primarily be applied to the Lady Chapel roof repair works which started during the year.

The 900th Anniversary Fund has been established to receive donations towards the 900th Fundraising Appeal. The fund is in deficit at the year-end as fundraising costs were incurred during the year, in order to allow the fundraising campaign to commence. The fundraising plan has been created over a five year period and 2021 was the initial phase where it was anticipated that costs would exceed income. This was acknowledged as temporary by Trustees and remediated in 2022 with a programme of donor information evenings, reduction in professional costs, and confirmation of an expected donor that returned the campaign to a surplus position.

The Friends of St Bartholomew the Less is primarily used for fabric related expenditure for St Bartholomew the Less Church.

The SBL Ministry Fund receives grant funding specifically for the provision of Anglican Ministry services at St Bartholomew the Less.

19. Related party transactions

The Rector, and the Churchwardens who acted during the year—Roy Sully and Iain Bailey are ex officio trustees of The St. Bartholomew the Great Heritage Trust and The St Bartholomew's Gatehouse Trust. There are other trustees of these two Trusts.

The PCC has borrowed £65,000 from the Heritage Trust to fund the Cloister development works. Interest at 2.7% per annum is payable on the loan. The original five year repayment date has been extended with agreement from the Trustees of the Heritage Trust.

The PCC has borrowed £50,000 from the St Bartholomew's Gatehouse Trust to fund the initial fundraising costs associated with the 900th anniversary project. The loan is not repayable under April 2023 at the earliest.

24

PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

20 Analysis of net assets between funds As at 31 December 2021

Tangible fixed assets
Investments
Current assets
Creditors due within one year
Creditors due after more than one year
As at 31 December 2020
Tangible fixed assets
Investments
Current assets
Creditors due within one year
Creditors due after more than one year		 Unrestricted
Restricted
Total
funds
funds
funds
£
£
£
15,593
-
15,593
31,658
44,373
76,031
238,837
101,523
340,360
(51,303)
-
(51,303)
(65,000)
(50,000)
(65,000)
169,785
95,896
315,681
Unrestricted
Restricted
Total
funds
funds
funds
£
£
£
13,037
-
13,037
33,742
43,253
76,995
141,226
77,547
218,773
(23,082)
-
(23,082)
(65,000)
-
(65,000)
99,923
120,800
220,723

25

PAROCHIAL CHURCH COUNCIL OF GREAT SAINT BARTHOLOMEW

21 Financial instruments

2021 2020
£ £
Financial assets measured at fair value through the
Statement of Financial Activities 76,031 81,995

Financial assets measured at fair value through the Statement of Financial Activities represent fixed asset investments.

22 Reconciliation of net movement in funds to net cash flow from operating activities

Net movement in funds
Depreciation of tangible fixed assets
(Gains) / losses on investments
Interest and dividend income
Decrease / (increase) in stock
Decrease / (increase) in debtors
Increase / (decrease) in creditors
Net cash used in operating activities
23
Cash in hand
Short term deposits
Total cash and cash equivalents
Cash in hand
Short term deposits
Analysis of Cash and Cash Equivalents		 2021
£
44,958
4,965
1,535
(2,063)
(2,802)
(42,659)
78,221
82,155
2021
£
229,350
28,709
258,059
1 January
Cashflows
2021
£
£
149,774
79,576
27,159
1,550		 2020
£
853
3,819
(3,001)
(2,531)
(806)
(6,320)
678
(7,308)
2020
£
149,774
27,159
176,933
31 December
2021
£
229,350
28,709

26