2021-12-31-accounts

St Etheldreda's with St Clement's, Fulham Parochial Church Council

Registered Charity No: 1163860

Annual Report

&

Accounts

Year ending 31[st] December 2021

For presentation to the Annual Parochial Church Meeting In St Etheldreda’s Church On Sunday 8th May 2022

Table of Contents

Charity Particulars ................................................................................................................................... 3 Introduction ........................................................................................................................................ 4 Structure, governance, and management ..................................................................................... 4 Objectives and Activities ................................................................................................................ 4 Minutes of the Parish of St Etheldreda’s with St Clements, Fulham- Annual Vestry Meeting. ...... 5 PAROCHIAL CHURCH COUNCIL REPORT FOR 2021/22 ....................................................................... 8 Introduction .................................................................................................................................... 8 The Parochial Church Council ......................................................................................................... 8 Mission Action Plan ......................................................................................................................... 9 Continued and Developing Worship ............................................................................................. 10 Music ............................................................................................................................................. 10 Management of Parish Affairs ...................................................................................................... 10 Youth and Children ....................................................................................................................... 11 Housing ......................................................................................................................................... 11 Fundraising .................................................................................................................................... 11 Safeguarding ................................................................................................................................. 12 Safeguarding Report ..................................................................................................................... 12 GDPR Report – Personal Information and Privacy ............................................................................ 13 Charity Registration .......................................................................................................................... 13 Where Now? ..................................................................................................................................... 13 CHURCHWARDENS’ FABRIC REPORT FOR 2021 TO 2022 ................................................................. 14 DEANERY SYNOD REPORT 2021-2022 ............................................................................................... 16 TREASURER’S REPORT ....................................................................................................................... 18 Statement of Financial Activities .................................................................................................. 18 Summary ................................................................................................................................... 18 General Fund Receipts - See Notes on 4a - i ........................................................................ 18 Activities for generating funds - See Note 4f ............................................................................ 19 Investment Income - See Note 4g ............................................................................................. 19 Receipts from Church Activities - See Note 4h ......................................................................... 19 Payments ..................................................................................................................................... 19 Cost of generating funds - See Note 5a ................................................................................ 19 Missionary and Charitable Giving – See Note 5b ............................................................. 19 Parish Share - Common Fund – See Note 5c ................................................................... 19

1

	Clergy and Staffing Costs – See Note 5d........................................................................... 19
	Church Running Expenses – see Note 5e......................................................................... 20
	Hall Running Costs – See Note 5f....................................................................................... 20
Independent Examiner's Report ........................................................................................................... 21
Balance Sheet ........................................................................................................................................ 22
Statement of Financial Activities .......................................................................................................... 23
Notes to the Financial Statements ........................................................................................................ 24
1	Accounting Policies ................................................................................................................... 24
	A. Historic Cost Convention ................................................................................................... 24
	B. Restricted funds ................................................................................................................ 24
	C. Unrestricted funds ............................................................................................................ 24
	D. Designated Funds .............................................................................................................. 24
	E. Transactions included in the accounts .............................................................................. 24
	F. Voluntary income and capital resources .......................................................................... 24
	G. Other ordinary income ...................................................................................................... 24
	H. Gains and losses on investments ...................................................................................... 24
	I. Grants ................................................................................................................................ 24
	J. Fixed assets ....................................................................................................................... 24
	K. Investments ....................................................................................................................... 25
	L. Current Assets ................................................................................................................... 25
2	Statement of Assets and Liabilities ........................................................................................... 26
3	Fund Movements ...................................................................................................................... 27
4	Receipts ..................................................................................................................................... 28
5	Payments ................................................................................................................................... 29
6	Investments ............................................................................................................................... 31
7	Debtors ...................................................................................................................................... 31
8	Creditors: Amounts falling due in one year .............................................................................. 32
9	Fund details ............................................................................................................................... 32
10 Transactions with members of the PCC ....................................................................................... 34

2

Charity Particulars

Charity Name

St Etheldreda's with St Clement's Fulham Parochial Church Council

Charity Registration 1163860 Number

The Vicarage, Doneraile Street, London, SW6 6EL (For correspondence)

Officers

Chairman: Rev. Ross Gunderson Lay Vice-Chairman: Miss Irene Daley Secretary: Mr James Grieve & Mrs Louise Beanland Treasurer: Mr Patrick Litton Electoral Roll Officer: Mrs Alison Power Church Safeguarding Officer: Miss Irene Daley Trustees Churchwarden: Miss Eva Webb Churchwarden: Mrs Alison Power Deputy Churchwarden: Mr Martin Chapple Deputy Churchwarden: Vacant Deanery Synod Mrs Lisa Johnson Representative: PCC Members:

Mrs Heidi Bury Miss Doreen Agyei Miss Irene Daley Mrs Sylvaine Vautel Miss Lena Kjellgren Mrs Ursula Chapple Mr Christian Malissard

Website www.stethsfulham.org Banker Lloyds Bank PLC 417 North End Road, London, SW6 1NS Independent Examiner Revd. Captain Paul Fitzpatrick C.A., S.C.P.

3

Introduction

The parish and benefice of St. Etheldreda with St. Clement Fulham was formed in 1964 from the union of the benefices of St. Etheldreda, Fulham (1896) St. Clement, Fulham (1884). There are two churches: The Parish Church of St. Etheldreda, and of St. Clement, both situated on Fulham Palace Road, and each has halls attached.

The Parochial Church Council (PCC) is a body corporate.

Structure, governance, and management

Membership of the PCC is determined under the Church Representation Rules and consists of certain ex-officio members: the Incumbent, the Churchwardens, and members of the Deanery Synod, and 6 members of the church who are elected at the Annual Parochial Church Meeting (APCM). Members of the PCC are thereby Trustees of the Registered Charity. Members are warmly encouraged to stand for election to the PCC and we try to ensure diversity and a balance of skills and experience where possible.

Objectives and Activities

The primary objective of the Charity is the promotion of the Gospel of our Lord Jesus Christ according to the doctrines and practices of the Church of England. The PCC has the responsibility of co-operating with the Incumbent, in promoting in the ecclesiastical parish the whole mission of the Church: pastoral, evangelistic, social, and ecumenical.

4

Minutes of the Parish of St Etheldreda’s with St Clements, FulhamAnnual Vestry Meeting.

Held at St Etheldreda’s Parish Church on the 16[th] of May 2021

Meeting opened at 11.36 am

1: Notice of the Meeting:

The Chairman opened the meeting by confirming that the proper notice of the meeting had been given in accordance with the regulations and then the Chairman thanked, Martin Chapple and Caroline Grieve for their long service and presented them with an embroidery by Polly Meynell.”

2: Appointment of a Clerk to the Meeting

James Grieve was appointed to the roll of clerk.

3: Approval of Minutes of the last meeting which took place on the 26[th] of April

The Minutes of the 2020 Vestry Meeting held on the 18[th] of October 2020 (included in the meeting booklet on pages 5 and 6) were approved without objection or amendment.

There were no matters arising.

4: Election of Churchwardens

Nomination forms were received for Eva Webb and Alison Power and there being no other nominations they were declared elected as Churchwarden

5: Any other Business

There was none

6: Close of the Meeting

The Meeting closed at 11.45 AM

5

Parish of St Etheldreda’s and St Clement, Fulham- Annual Parochial Church Council Meeting, held on the 16th of May 2021, Held at the Parish Church of St Etheldreda’s:

Minutes

The Meeting opened at 11.40 AM

1: Notice of the Meeting

The Meeting was opened by the Vicar (as Chairman) who confirmed that proper notice of the meeting had been given in accordance with the regulations and who drew attention to the written reports and information contained in the Meeting Booklet.

2: Appointment of Clerk for the meeting

James Grieve was appointed as clerk.

3: Approval of the Minutes of the 2020 APCM held on the 18[th] of October 2020:

The Minutes of the 2020 APCM held on the 18[th] of October 2020 (found on pages 7 and 8 in the meeting booklet) were approved without objection or amendment.

There were no Matters arising.

4: Approval of the revised Electoral Roll for the Parish:

The revised Electoral Roll was approved (located on pages 25 and 26 of the Meeting Booklet) was approved without objection on a show of hands.

5: Annual Report of the proceedings of the Parochial Church Council.

The Annual Parish Report (pages 12 to 19 of the Meeting Booklet) was received and there were no questions.

6: Presentation of Safeguarding Report:

The Safeguarding Report (paragraph 5 on page 18 of the Meeting Booklet) was received and there were no questions.

7: Presentation of the Deanery Synod Report:

The Deanery Synod Report (pages 24 of the Meeting Booklet) was received and there were no questions.

8: Presentation of the Churchwarden’s Report on the Fabric:

The Churchwardens Report on the Fabric (pages 20 to 23 of the Meeting Booklet) was received and there were no questions.

9: Presentation and adoption of the Treasurer’s Report and Accounts of the Parochial Church Council.

The Annual Financial Report and Accounts for the year ended 31[st] of December 2020 (pages 26 to 29 of the Meeting Booklet) having been approved by the PCC were presented by the Treasurer, Patrick Litton, and approved by the Meeting without objection.

There were no questions.

6

10: Elections:

• Election of the Deputy Churchwarden:

Martin Chapple had been nominated was declared elected there being no other nominations.

• Election of PCC members:

Nomination forms were received for Irene Daley, Ursula Chapple, Martin Chapple and Sylvaine Vautel and there being no other nominations and four vacancies they were declared elected.

11: Election of Independent Examiner of the Accounts:

The Rev. Captain Paul Fitzpatrick CA was re-appointed as Independent Examiner without objection.

13: Any Other Business:

There was none.

14: Meeting Closed at 12.03pm

7

THE PARISH OF ST ETHELDREDA WITH ST CLEMENT, FULHAM

PAROCHIAL CHURCH COUNCIL REPORT FOR 2021/22

Introduction

With National Lockdown easing by April 2021 the PCC began focusing on how to show that the Church is open for worship and larger services whilst still be mindful of parishioner’s diverse views regarding lockdown regulations.

It was agreed by the PCC that from Easter (within COVID guidelines) the church would be outward facing and mission focused. Outside singing of the last hymn commenced at the end of every Sunday service, there was greater use of the church railings for Lent/Easter and Advent/ Christmas with large banners, stations of the cross and Holy Family being displayed. Mission and outreach work recommenced in schools and the parish community as well as an increase in pastoral care visits. A midweek Eucharist started on Thursday, as well as a Tuesday service at Lygon House.

The congregation began returning in higher consistent numbers and our services for Easter Sunday and St Etheldreda day well exceeded attendance pre-COVID. The momentum carried through into the Autumn with Harvest festival and Remembrance Day Service being extremely well attended, we had the added blessing of our partnership with the uniformed groups, who instilled a fresh sense of enthusiasm into worship in the church.

Advent and Christmas were very successful with a wide range of activities and community engagement, The Parish explored new avenues with a children’s nativity, Christmas fair and father Christmas! As well as successful favourites of the Carol service, Christingle, and Crib service.

In the day-to-day life of the church Father Ross and his team of volunteers were present weekly in local primary and secondary schools, at alms houses and other public places in the Parish.

Our work with young people has gone from strength to strength with the parish now having two preschool offerings of a parent and baby support group on Wednesdays and playgroup on Fridays. The parish has also started an after-school provision of a contemporary youth choir called Noise! who meet once a week on Wednesdays. Sunday Club has been overhauled to meet the needs of the parish in a spiritual context so young people from 3-9 can now join ‘Active church’ which combines physical activity with elements of Sunday school and prayer.

We give thanks and extreme gratitude at this time for Father Ross’ and the PCC’s flexibility and wealth of experience to be able to be so outward facing and of great benefit to the Parish. We are as always grateful for his leadership, steadfastness, imagination, and energy.

As a Parish we always pray that God will guide us to find channels through our mission so that His grace can flow out into the community. We can say in 2022 these prayers are being answered, through the love and action shown by so many in our Parish community.

The Parochial Church Council

New members of the PCC were elected at the Annual Parochial Church Meeting on 16th May 2021. We are grateful for the work of those members who resigned during the year owing to ill health and other commitments. We welcomed Sylvaine Vautel and the return of Ursula Chapple to the PCC. We

8

also gave thanks to the outgoing Churchwardens Caroline Grieve and Martin Chapple, for their tireless work as Churchwardens, as well as their strength and support in the Parish during the pandemic.

The PCC has held 7 meetings in the period from 5 May 2021 to 27 April 2022. All meetings have taken place in person at St Etheldreda’s Church. The necessary formal returns to both the Church of England and to the Charity Commission for the last year were duly made

We also said goodbye and gave thanks to James Grieve our PCC secretary. We welcomed Barbara Wakeley as new PCC secretary who attended her first PCC meeting on the 22[nd] March 2022.

Mission Action Plan

Mission continues to be pushed forward in the Parish in the ways set out in the Parish report to the Bishop of Kensington in December 2018. The PCC is very pleased to be able to report that, taking into account the attendance figures indicated in the Worship section of this report, further progress has been made in meeting the objectives identified at the first Mission Day despite the pandemic.

The Mission Plan made and launched in May 2019 set out these aims:

(a) a regular church community of between 100 and 200 by May 2021

(b) an “internal” church plant into St Clements probably with an emphasis on young people within that period

(c) doubling our church community again and, therefore, ability to increase wider community engagement working out of both churches within five years i.e., by 2024.

We continue to grow in our mission action plan, our church base is now in excess of 200. Work has begun on an internal church plant and discussions on how that will look and start in 2022 with support of the Diocese is underway. The blessing of a growing community continues within our Parish; growth in mission with young people, not only in schools, but after school provision; and now two playgroups (on Wednesday and Friday) We are increasing wider community engagement. The PCC has had discussions on where to focus next with mission in regard to St Clements and what else can be offered at this church.

Volunteers continue cheerfully to undertake work in cleaning and restoring our church buildings, contents, and gardens in teams. This a constant need of resource and energy, we give thanks and are grateful for all those involved and their contributions to help in the upkeep of the church. A growth in numbers of young Duke of Edinburgh Award Scheme candidates continues to bring more young people into our orbit, while helping with essential tasks within the church. On Thursdays after Eucharist many of our mature worshippers help by cleaning brass and silver whilst having a natter, proving all ages can help in the life and growth of the church.

Green fingers have helped ensure our remembrance garden at St Eth’s is the prettiest on record, with volunteers also helping at St Clements, keeping the front garden neat and tidy.

9

Continued and Developing Worship

A Service Book has been continuously kept as required and a summary of records of church attendance in person (all services are livestreamed as well) shows that, there has been significant growth in special services attendance was:

Service	2020	2021
Christingle FamilyEucharist	80	115
Nativity	n/a New for 2021	102
Carol Service 2021	n/a	416(58)livestream
Crib Service	30	41
Midnight Mass	47	67(38)live streamed
Christmas Day	94	98
Easter MorningEucharist	105
Harvest Festival	n/a	185(23)livestreamed
First Communion service	158(35)livestreamed
Mother’s Day, confirmation, holycommunion	Only Mother’s Day 60 (25) live streamed	97 (26) livestreamed

All worship is livestreamed by Instagram (and available for “catch-up”). Livestreamed weekday morning prayer Monday to Friday continues alongside Divine Mercy on a Friday evening and Mass on Thursdays and Sundays Live Stream congregants average 30.

We have made our annual Mission return to the Church of England and the detailed figures can be inspected online on the Parish Portal. We circulate weekly Pew Notes and a weekly Newsletter to circa 200 people. During the year we have had two more 24-hour Chain of Prayer events: one at Pentecost 2021 as part of the Thy Kingdom Come worldwide prayer initiative.

Our Sanctuary team of servers led by Irene Daley continues to attract new members both young and old. Judy Barrett has undertaken the reorganisation of our Welcome Team and recruitment of new members. We also have a counting team to work with our treasurer to ensure all finances are dealt with in an appropriate fashion.

We have begun introducing QR codes into our orders of services, so that we can receive donations in a range of payment methods. In a largely cashless society finding mechanism to ensure donations continue are vital to the life of the church.

Music

We continue to be immensely grateful to Ursula Chapple, our Organist and Music Director. She pioneered a new Eucharistic score, as well as playing outside and at a range of services, Ursula continues to bring music into the heart of the community here at St Eths. We have also started a youth choir called ‘Noise!’ Who have been singing at St Clements for 5 months and have recently moved to St Eth’s for larger premises as they continue to grow. Our hope is that Russell Swallow will continue to bring joy to this exciting new initiative and that we may hear them more often in services. Thanks to all who help with organisation, planning and energy on the musical front.

Management of Parish Affairs

The system developed in 2020 of the Standing Committee (“SC”) acting as an executive body subject to direction and authorisation at formal PCC meetings has continued. The SC comprises of Vicar, Churchwardens and Deputy, and Lay Chair. SC has met approximately fortnightly ensuring smooth running of services, daily running of the church and knowledge transfer where applicable. All members of SC and the Treasurer are on the bank mandate which requires two signatures for transactions and four members are on the mandate for CCLA, the investment fund. SC has authority

10

from the PCC (reviewed annually) to make spending decisions currently subject to a limit of £2000 for any one contract.

The Churchwardens have legal responsibility for the fabric and furnishings and have made a separate report. Martin Chapple has been responsible for hall lettings and management but will be resigning this task as of the APCM 2022, the SC and PCC will be working on how we fill this role. The PCC Health & Safety officer is Doreen Agyei. The Electoral Roll officer is Alison Power. Written minutes of PCC meetings continue to be kept which refer to the SC reports. A number of special committees have also been formed which include people outside of the PCC these committees are Finance, Events, Youth, Lighting, Fabric, Fundraising, Mission, and Communications. If anyone is interested in joining a committee, please speak to the Vicar. These groups are each represented by an individual PCC member. Each committee is planning a range of initiatives to ensure the growth and good name of the Parish.

Youth and Children

Our Apprentice Youth Worker, Julia Agnello, moved from this Parish to St. Andrews Fulham Fields. We thank Julia for all that she gave this church, her energy and we wish her well serving God’s church.

We are in the process of planning a youth night away in June 2022.

We have begun relationships with Hakinakina sports, running ‘Active’ church during Sunday which has had positive feedback from children and adults alike.

Friday Playgroup has been taken on board by Natasha Hussain, she has recruited some very capable volunteers to help her in the welcome and running of playgroup.

Eva Webb is working as our KMES apprentice, is not only our church warden but working with us as she continues to discern God’s call.

We also have increasingly good relationships with all the schools in our parish, with Fr Ross being on the board of Governors and helping to guide their future. Having never done work with schools in our parish for over 25 years the focus of our outreach has transformed over the last few years. We continue to point towards new younger members becoming key within our community. This has been demonstrated through our work in creating a fellowship group, first communion candidates and uniformed groups.

We look forward to welcoming Briony Mackie as Curate from Summer 2022. We are excited about the gifts she will bring with her. There are further plans afoot for us to continue on the KMES scheme and potentially bringing through an ordinand as of September 2022. Watch this space!

Housing

Caroline Grieve is pursuing the SBHG (Shepherds Bush Housing Group) in ensuring that a property, which can be given to the parish is duly recognised.

Fundraising

The financial position of the PCC is reported separately. The Annual Accounts for the year ended 31 December 2021 show that there is a real need for every member of the worshipping community to consider their ability to either begin tithing or increase their giving so that the parish may pay their associated costs to the diocese. We wish to thank Patrick Litton, our Treasurer for the hard work he has put in to keep us up to date, compliant and in good order.

We have been able to increase our contribution to the Diocesan Common fund for 2022 to £80,000. This still means that we are paying almost all of the costs that the Diocese asks of our parish. We have

11

as a PCC undertaken deep dive analysis of our reserves and how we plan to use them for the works and mission of the parish.

Safeguarding

Irene Daley, the Lay Chair of the PCC, and SC has been Parish Safeguarding Officer since the rule’s inception. From 2022 Bernie Stratford will be duly appointed to take over the sterling work of Irene and we thank Irene for her incredible work and for Bernie coming forward. Our Children’s Champions are Stella Boateng and Monique Boateng.

The safeguarding report is as follows:

Safeguarding Report

The Parish Safeguarding Policy is reviewed each year at the first PCC meeting following the APCM and complies with the London Diocesan requirements. Safeguarding is on the agenda at every PCC meeting.

All those who work with children in the parish have undertaken suitable Disclosure procedures, including DBS checks.

The Parish Safeguarding Officer, Parish Priest, Church Wardens, all members of the PCC and all those working with children or vulnerable adults undertake the recommended Safeguarding training. If anyone else is interested in completing this training, please ask Irene Daley for the online link.

There have been no reported concerns or allegations, but the PCC are fully aware for the need for vigilance and integrity.

I am hoping that I will hand over the role of Parish Safeguarding Officer to Bernie Stratford as soon all Disclosure procedures and trainings are in place.

Irene Daley

Parish Safeguarding Officer

12

GDPR Report – Personal Information and Privacy

A massive thank you to Caroline Grieve who was our GDPR officer and thanks to Heidi Bury who agreed to take over the role. Her continued vigilance and hard work ensure that we are compliant in an ever-changing field.

Charity Registration

As a registered charity the PCC has complied with its obligations making its annual return to the Commission and ensuring that all PCC members understand and comply with their duties as charitable trustees. All PCC members annually sign Disqualification Declarations.

Where Now?

Last Year when this report was written

The PCC prayed that, when we wrote this year’s report, we would have a good story to tell.

It has been said that numbers do not lie, as such our numbers have been growing but so has the enthusiasm, reputation, and love of our parish.

Our outreach and mission are central to everything that we undertake as a PCC and worshipping members of this church. Every activity we consider performing goes through rigorous scrutiny to ensure visibility in a positive manner, ensuring that we do not become comfortable and inward looking.

We are continually reminded to be the hands and feet of Jesus here in Fulham. As such we look to do his good works in building up his kingdom here on earth, creating church as a refuge and sanctuary, working with the marginalised, the oppressed, the lonely and forgotten. These acts of mission have been a central tenet in how we engage and grow as a community of Christ loving Christians; ensuring all are welcomed and have a sense of belonging. Our plans do not stop, and we will continue to God’s work as best as we can.

Thank you to each and every one of you who have played your part no matter how big or small.

God Bless each and every one of you

Fr. Ross Gunderson, Vicar and PCC Chairperson

Irene Daley, Parish Safeguarding Officer

James Grieve and Louise Beanland, PCC Secretary

13

CHURCHWARDENS’ FABRIC REPORT FOR 2021 TO 2022

1. Last year’s report referred to the year which ended at Easter 2021 having been an extraordinarily busy year in relation to the maintenance and conservation and improvement of the fabric of our buildings (two churches with attached halls) and of the plate and furnishings which belong to the Parish. The Quinquennial Survey had been received from the Diocesan Surveyor and, as a consequence, the churchwardens (with the help of Irene Daley) produced a Building Works Schedule setting out the works of repair and reinstatement required by that Survey and also generally over the next year or so. That Schedule has been revised for each successive meeting of the Parochial Church Council (“PCC”) during the year since 5 May 2021 so that the PCC could see a rolling record of the work which was required and the work which was being carried out notwithstanding the difficulties created by the Covid 19 regulations

2. A copy of the Building Schedule including all works carried out during the last 12 months is attached. The PCC has approved all works and expenditure on works set out in the Schedule

3. The largest and most complicated projects are and have been the consequence of the annual inspections of the electrical systems at St Etheldreda Church and Halls and at St Clements Church and Hall which took place in 2019. The electricians confirmed that none of the problems presented an emergency or a serious risk of imminent harm to users or occupiers of the buildings or to the buildings themselves. Nevertheless, it has been necessary to disclose the position to the Ecclesiastical Insurance Office (our building insurers). In the case of St Etheldreda Halls there is no problem. In the case of St Etheldreda Church cover has been extended for successive periods to enable us to obtain further reports, a specification of works and to let a contract for the replacement of the existing electrical system. In the case of St Clements Church, the remedial electrical work has now been completed. The necessary work at St Etheldreda’s Halls (which include the vestries and the Lady Chapel) is complete. That required at St Etheldreda’s Church is in the hands of consultants, CES as disclosed in last year’s APCM.

4. In the meantime, we have also been carrying out internal and external remedial works and decoration. We are immensely grateful to Gary Mills not only for the work that he has done for us on a commercial basis but also for the guidance and assistance he has provided to us and to the many volunteers who have helped. We are also immensely grateful to Irene Daley, Ken Bromfield, Sue Litton, Mike Barnes, Claire Khalil and Sylvaine Vautel for their efforts in the maintaining and cleaning of the church. The Vicar is himself working with young people volunteering as part of the Duke of Edinburgh Award Scheme to clean and restore the woodwork of the Lady Chapel external screen and door as well as other maintenance jobs. These volunteers are forming a community amongst themselves for which we are grateful.

5. The gardens and churchyard are being well gardened and maintained by volunteers and external taps, hoses, and water butts to help with watering have been provided at both St Etheldreda’s and St Clements. We are grateful to Louisa, Sylvaine Vautel and Liddy Ashworth plus others who have undertaken this work. Again, working has produced a community. We have reinstated the original hardwood wall plant boxes

14

mounted on brackets on the external wall of the church facing the Garden of Remembrance.

1. Our church plate and other valuables remain in good order and secure. The inventory was made available to the PCC at the same time as the terrier and logbooks for both churches.

2. The PCC has instructed the services of a green energy company to provide a green survey of the church and to see the areas where we can be more environmentally efficient and hopefully reduce expenditure on heating.

3. We have complied with all our statutory obligations in relation to the use, management, and physical structure of our buildings

4. All buildings and their contents are covered by up to date annual insurance policies (excluding acts of terrorism) to the level recommended by the Ecclesiastical Insurance Office and we have Public and Occupiers’ Liability Insurance.

Eva Webb and Alison Power

Churchwardens

for and on behalf of the PCC

22 March 2022

APPENDIX

Ecclesiastical Jurisdiction and Care of Churches Measure 2018 section 50

50 Role of churchwardens in inspecting fabric etc. of church

(1)The churchwardens in each parish must, at least once every calendar year, inspect or cause an inspection to be made of the fabric of the church and all articles pertaining to the church.

(2)The churchwardens in each parish must, in every calendar year, deliver to the PCC and, on behalf of the PCC, to the annual parochial church meeting a report (“the annual fabric report”) on the fabric of the church and all articles appertaining to it, having due regard to the inspection (or inspections) under subsection (1).

(3)The annual fabric report must include an account of all actions taken or proposed during the previous calendar year—

(a)for the protection and maintenance of the fabric of the church and the articles appertaining to it, and

(b)in particular, for the implementation of any recommendation contained in a report under the scheme referred to in section 45 (scheme for inspection of church).

(4)In carrying out the duty under subsection (1) or (2), the churchwardens must consult the minister.

(5)The annual fabric report must be delivered—

(a)to the PCC at its last meeting before the annual parochial church meeting, and

(b)to that annual parochial church meeting, with such amendments to the report as the PCC may make.

15

(6)The churchwardens must, as soon as practicable after the beginning of each calendar year, produce to the PCC—

(a)the terrier, the inventory and the log-book relating to events occurring in the previous calendar year, and

(b)such other records as the churchwardens consider likely to assist the PCC in carrying out its functions in relation to the fabric of the church and articles pertaining to it.

(7)The terrier, inventory and log-book produced to the PCC under subsection (6)(a) must be accompanied by a statement signed by the churchwardens to the effect that the contents of each are accurate.

(8)In the case of a parish which has more than one church, this section applies in relation to each church.

DEANERY SYNOD REPORT 2021-2022

The Hammersmith and Fulham Deanery is made up of 20 parishes. Since the last APCM there have been 5 meetings, in person or via Zoom.

20th May 2021, The Rev Denis Adide, Vicar of St Stephen with St Thomas, Shepherds Bush, spoke to us on the subject of "Racism and Injustice on grounds of race in the Church of England and in Deanery parishes.

23rd September 2021, St Matthews, Sinclair Road, Rev Derek Winterburn. Care for creation ,Be an Eco Church.

6th October 2021. The Common Fund Meeting.

25th November 2021. St Matthews, Wandsworth Bridge Road, Safe Families UK.

8th February 2022, Holy Innocents, Paddenswick Road, The Rev Will van derby Hart spoke about, Well Being, focussing on the mental/emotional health of clergy and laity.

Dates of next meetings. 27th April St Etheldreda’s, topic to be confirmed. 21st or 28th September 1st December Venue and topics to be confirmed. Everyone is welcome to attend the meetings.

If you would like any more information please contact me, [e-mail]

16

PARISH OF ST ETHELDREDA WITH ST CLEMENT, FULHAM

REPORT ON REVISION OF ELECTORAL ROLL 2020

Report on Revised Electoral Roll 17[th] April 2022

1. Here is the revised Electoral Roll.

2. A written notice seeking applications for addition or removal was displayed at the Parish church, St Etheldreda's at 528 Fulham Palace Road SW6, between 27th March and 10[th] April 2022 requiring applications to be made on or before 10th April 2022.

3. Twenty-three applications were received for addition to the Electoral Roll of which 23 were valid and 0 were not.

4. One name was removed from the Electoral Roll approved in 2021.

I, Alison Power, Electoral Roll officer for the Parish, confirm that the above information is correct and that the revised Electoral Roll has been displayed at the Parish church as from 17[th] April 2022 subject to any valid objections received by the time and date of the Annual Parochial Church Meeting 11.30am on Sunday 8th May 2022.

Signed

[e-mail]

17

TREASURER’S REPORT

The financial statements have been prepared on a receipts and payments basis and in accordance with the requirements of the Charities Act 1993. The financial statements include the accounts of the General Fund, representing the unrestricted and designated funds that are generally available to the PCC as well as number of Restricted funds which are detailed in the accounts. The income for these restricted funds must be used in the ways set out by the donors or grantors as described in Note 8.

Statement of Financial Activities

Summary

Despite the challenges of 2021, the parish saw a marked recovery in its activities from last year. This was particularly noticeable from the hall lettings on which our parish depends for so much of its income, although this also brought an increase in hall running costs as buildings were occupied. In addition to the welcome return of hall lettings, the parish held several successful fund raising events both for general purposes and for the Lighting Project, as the church lighting is many years old and needs total refurbishment. The PCC had hoped to start work this year, but Covid and delays in obtaining faculties meant that it will probably take place in 2022. We received several generous donations in the year for the Lighting Fund, from parishioners, most of whom wished to remain anonymous, but whose names are recorded with the PCC. A donation in memory of a deceased parishioner, Rose, Lady Stephenson was used for acquiring a new altar frontal and vestments to replace old and worn out items no longer able to be repaired. We also received donations of £1,000 each from the Ian Askew Charitable Trust and United in Hammersmith for the Lighting Fund and for the establishment of a Youth Choir, which have been recorded as Restricted Income and for which we are extremely grateful.

Nevertheless, the congregation has been active is repairing and refurbishing much of the fabric of the church and its churchyard, replanting it, and creating a more pleasing memorial garden. The interior of the church has been painted and repaired. The parish spent £24,000 on this work but the buildings look so much more loved than they have for some time.

Our investments have done well and recovered the losses of previous years, which is very welcome. However, in considering this, the PCC decided to revisit the various funds which it holds to see if they were needed. As a result, the PCC designated some new funds to replace the old ones.

The net surplus for the year was £9,000 which has allowed us to revisit our commitment to the Diocese, from 2022, our parish will increase its Common Fund to £80,000 (up from £71,000) which takes us nearer the goal of paying out full cost to the Diocese.

These are discussed in more detail below.

General Fund Receipts - See Notes on 4a - i

We were fortunate that our parishioners have maintained or increased their standing orders, which has greatly helped the church’s finances and for that we are grateful. The envelope scheme is now not used very much as the cash is no longer as prevalent as it was. (See Note 4 Receipts)

Other receipts have increased by nearly 50% on the prior year. Within this the parish received £19,000 from its auction and other activities held in aid of the Lighting Project. We also received several generous donations for replacing the benches in the memorial garden as well as for the restoration of some of the ecclesiastical furnishings. This was all made both more affordable and possible by the time and talents given freely by so many volunteer.

18

We received one grant in the year for the work of the Youth Choir, which seeks to encourage the younger members of the parish to sing and work together in projects. They performed well at our Carol Service in December (for details see Note0).

Activities for generating funds - See Note 4f

Income from church buildings is still the major source of Parish income and has recovered from the almost total collapse in 2020. The PCC expected that revenue would regain its former levels in 2021, and it seems to have done so. At St Etheldreda’s the Bishop’s Park Montessori Nursery School is continuing successfully as is the Kindergartens Mouse House Nursery School in St Clement’s. There has been a tentative resumption of clubs, activities, and children’s parties.

Investment Income - See Note 4g

Investment income derives from two main sources: an investment in the CBF Church of England Investment Fund - Income Units managed by the CCLA and interest arising on the funds on deposit at the bank. This has increased by 7%, which reflects the additional investment made in the year as the PCC decided to reduce its cash holdings to try to generate a better return for its activities.

Receipts from Church Activities - See Note 4h

These are fees for reading banns and conducting funerals. Depending on the nature of the fee, some portion may be payable to the Diocese and any liability at the year-end is recorded in Agency Fees.

Payments

Cost of generating funds - See Note 5a

These costs are above last year as we have resumed our many events and activities. This has been very successful both financially and in bringing the parishioners together after our enforced isolation.

Missionary and Charitable Giving – See Note 5b

The major mission work was conducted in 2020 through the Fulham Community Fund and its successor, the St Eth’s Community Fund. This was a rapidly developed response to the hardships experienced in the local community because of Covid-19. However, there has been less need for this during 2021 and we are using the funds to pay for staffing of a support group.

Parish Share - Common Fund – See Note 5c

Our contribution this year of £71,000, although the full Common Fund request from the Diocese was (& remains) £85,000. This covers both the stipend and housing of the incumbent and certain central costs of the Church of England, including Diocesan support staff and training of ordinands. In recognition of the relative financial strength of the parish compared with many other parishes in the deanery and elsewhere, the PCC has agreed to increase the Common Fund for 2022 £80,000 (full request still £85,000)

Clergy and Staffing Costs – See Note 5d

This relates to the costs of Eva Webb who through the Kensington Ministry Experience Scheme is exploring a vocation to parish ministry.

19

Church Running Expenses – see Note 5e

This increased from the previous year, owing to the need for increased and continuing cleaning as well as needing to heat buildings that are now being occupied more of the time. Also, fuel costs have increased sharply since last year. The parish took delivery of the new gold altar set and frontal which we paid a deposit for in 2020, using some money given in memory of a deceased parishioner, Lady Stevens.

Hall Running Costs – See Note 5f

The major increase is due to the need to rewire the electrical circuits at St Clement’s (£15,000) as well greater use and occupation of the halls, combined with the increased costs of fuel.

Church Repairs & Maintenance – See Notes 5e & f

Although the parish has undertaken some major projects this year, all of them are considered as maintenance and so have been classified above.

Governance Costs – See Note 5i

We are indebted to the Revd. Captain Paul Fitzpatrick for his advice and examination of these accounts. He has yet to present his invoice for 2020, but this will be £750 as agreed with the PCC. This amount will reduce in 2021 to an agreed £500.

Investments

In 2020, investments were moved from current to fixed assets, as the PCC does not intend to realise these investments within the next 12 months and as such, they are now shown within fixed asset investments.

Patrick Litton, M.A., F.C.A. Hon. Treasurer 24[th] January 2022

20

Independent Examiner's Report

Independent Examiner’s Report to the Parochial Church Council of The Ecclesiastical Parish of St Etheldreda with St Clement Charity Number 1163860.

I report on the accounts for the year ending 31st December 2021 which are set out on the following pages.

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.

It is my responsibility to:

• examine the accounts under section 145 of the Charities Act,

• to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and

• to state whether particular matters have come to my attention.

Basis of independent examiner’s statement

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 matter has come to my attention (other than that disclosed below *)

1. which gives me reasonable cause to believe that in, any material respect, the requirements:

2. to keep accounting records in accordance with section 130 of the Charities Act; and

3. to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or

4. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

24[th] January 2022

Reverend Captain Paul Fitzpatrick C.A. SCP

32 Waterer Rise, Wallington, Surrey, SM6 9DN

21

Balance Sheet

Notes Fixed assets Investments 6 Current assets Debtors 7 Cash at bank and in hand Liabilities Creditors: Amounts falling due in one year 8 Net current assets less current liabilities Total assets less current liabilities Total net assets less liabilities Represented by Unrestricted General funds 9a Designated Buildings & Major Works Fund 9b Contingency 9c Mission Projects Fund 9d Organ Repair Fund 9e Churchyard Maintenance Fund 9j Legacy Fund 9j Mission Fund 9j Organ & Music Fund 9j PCC Fund No 2 9j St Etheldreda's Hall Table Fund 9j Restricted St Eth's Community Fund 9f St Eths Lighting Fund 9g ST0806A Ellerby Street Trust Fund 9h Youth Choir 9i Funds of the church	2021 2020 £ £ 313,022 219,218
	313,022 219,218 15,550 - 40,372 102,355
	55,922 102,355 4,967506
	4,967506
	50,955 101,849
	363,977 321,068
	363,977 321,068 74,617 58,743 127,470 - 50,000 - 40,000 - 30,000 - - 174 - 83,558 - 16,444 - 9,439 - 127,731 - 1,778 6,684 7,068 17,953 - 17,083 16,132 171 -
	363,977 321,068

There may be minor discrepancies in the totals owing to roundings

22

Statement of Financial Activities

	**Notes **	Unrestricted	Restricted	Total	Total
		funds	funds	2021	2020
		£	£	£	£
Receipts
Planned giving	4a	17,087	-	17,087	16,829
Collections and other giving	4b	9,108	25	9,133	8,635
Other voluntary receipts	4c	-	1,000	1,000	14,795
Gift Aid recovered	4d	1,307	-	1,307	4,090
Other receipts	4e	11,893	18,045	29,938	14,613
Activities for generating funds	4f	110,324	705	111,029	53,019
Investment Income	4g	7,256	4,754	12,010	11,247
Receipts from church activities	4h	1,799	-	1,799	470
Charity fund raising activities	4i	112	-	112	-
Total income		158,886	24,529	183,415	123,697
Payments
Cost of generating funds	5a	6,532	156	6,688	2,422
Missionary and Charitable Giving	5b	200	900	1,100	7,941
Parish Share	5c	71,000	-	71,000	70,002
Clergy and Staffing costs	5d	5,920	435	6,356	5,072
Church Running Expenses	5e	50,586	5,074	55,660	39,601
Hall Running Costs	5f	31,837	918	32,755	18,154
Church Repairs & Maintenance	5g	-	-	-	9,993
Hall Repairs & Maintenance	5h	-	-	-	43
Governance Costs	5i	750	-	750	-
Total expenditure		166,826	7,483	174,309	153,229
Net income / (expenditure) resources before transfer		**( 7,939 ) **	17,046	9,106( 29,532 )
Transfers
Gross transfers between funds - in		1,091,613	51,763	1,143,375	11,032
Gross transfers between funds - out		(1,091,613 )	( 51,763 )	(1,143,375 ) (11,032)
Net income / (expenditure)		-	-	-	-
Other recognised gains / losses
Gains/losses on investment assets		-	-	-( 12,727 )
Gains on revaluation, fixed assets, charity's own use		32,159	1,644	33,804	26,425
Net movement in funds		24,220	18,690	42,910( 15,834 )
Total funds brought forward		297,867	23,200	321,068	336,901
Total funds carried forward		322,087	41,890	363,977	321,068
Represented by	**Notes **	Unrestricted	Restricted	Total	Total
		funds	funds	2021	2020
Unrestricted		£	£	£	£
General fund	9a	74,617	-	74,617	58,743
Designated
Buildings & Major Works Fund	9b	127,470	-	127,470	-
Contingency	9c	50,000	-	50,000	-
Mission Projects Fund	9d	40,000	-	40,000	-
Organ Repair Fund	9e	30,000	-	30,000	-
Churchyard Maintenance Fund	9j	-	-	-	174
Legacy Fund	9j	-	-	-	83,558
Mission Fund	9j	-	-	-	16,444
Organ & Music Fund	9j	-	-	-	9,439
PCC Fund No 2	9j	-	-	-	127,731
St Etheldreda's Hall Table Fund	9j	-	-	-	1,778
Restricted
St Eth's Community Fund	9f	-	6,684	6,684	7,068
St Eths Lighting Fund	9g	-	17,953	17,953	-
ST0806A Ellerby Street Trust Fund	9h	-	17,083	17,083	16,132
Youth Choir	9i	-	171	171	-
		322,087	41,890	363,977	321,068

There may be minor discrepancies in the totals owing to roundings

23

Notes to the Financial Statements

1 Accounting Policies

• A. Historic Cost Convention

Financial statements have been prepared under the historical cost convention, in accordance with the Church Accounting Regulations 2006, together applicable accounting standards and the Financial Reporting Standard for Smaller Entities SORP (FRSSE) 2015 issued by the Charity Commission.

• B. Restricted funds

• Restricted income from trusts or endowments may be expended only on those objects provided in the terms of the trust or bequest, and,

• The funds may only be expended on the specific object for which they were given.

• o Any balance remaining unspent at the end of each year must be carried forward as a balance on that fund. The PCC does not usually invest separately for each fund.

• Where there is no separate investment, interest is apportioned to individual funds on an average balance basis.

• C. Unrestricted 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.

• D. Designated Funds

These funds are also Unrestricted in nature but have been designated for a particular purpose by the PCC.

• E. Transactions included in the accounts

The accounts include all transactions, assets, and liabilities for which the PCC is responsible in law. They do not include the accounts of Church groups that owe their main affiliation to another body nor those that are informal gatherings of Church members.

Receipts

• F. Voluntary income and capital resources

Collections are recognised when received by or on behalf of the PCC. Planned giving receivable under covenant is recognised only when received. Income tax recoverable on covenants or gift aid donations is recognised when the income is recognised. Grants and legacies to the PCC are accounted for as the PCC is notified of its legal right and of the amount due. Funds raised by activities of the PCC are accounted for gross.

• G. Other ordinary income

• Rental income from the letting of church premises is recognised when the rental is

• received.

Dividends and interest are accounted for when received.

• H. Gains and losses on investments

• Realised gains or losses are recognised when investments are sold. Unrealised gains or losses are accounted for on revaluation of investments.

Payments

• I. Grants

Grants and donations are accounted for when paid over, or when awarded if that award creates a binding obligation on the PCC.

• J. Fixed assets

Other fixtures and fittings and office equipment.

Equipment used within the church is depreciated on a straight-line basis over 4 years. However, individual items of equipment with a purchase price of £5,000 or less are written

24

off when the asset is acquired. There were no items of equipment with a purchase price of £5,000 in 2020.

K. Investments

The only investments are in the CCLA CBF Church of England Investment Fund - lncome Shares.

As it is not currently the intention of the PCC to realise these assets within the next 12 months, they were reclassified as Fixed Asset Investments in 2020 for presentational purposes in accordance with a resolution of the PCC.

L. Current Assets

Amounts owing at the yearend in respect of fees, rents or other income are shown as debtors less provision for amounts that may prove uncollectable. There were no shortterm deposits at the year-end.

25

2 Statement of Assets and Liabilities

Note Asset PCC Fund No 2 6 Bank current account Bank deposit account Youth Group Float Debtors 7 Creditors due in under one year 8 Agency collections 8 General fund 9a Buildings & Major Works Fund 9b Contingency 9c Mission Projects Fund 9d Organ Repair Fund 9e Churchyard Maintenance Fund 9j Legacy Fund 9j Mission Fund 9j Organ & Music Fund 9j PCC Fund No 2 9j St Etheldreda's Hall Table Fund 9j St Eth's Community Fund 9f St Eths Lighting Fund 9g ST0806A Ellerby Street Trust Fund 9h Youth Choir 9i Total Current Asset - Cash At Bank And In Hand Net total assets Represented by Total Unrestricted Designated Restricted Total Current Asset - Investments Total Current Liabilities Net Current Assets	Unrestricted Designated Restricted 2021 2020 £ £ £ £ £ 31,905 247,470 33,647 313,022 219,218 31,905 247,470 33,647 313,022 219,218 18,320 - 2,760 21,079 37,622 11,605 - 7,639 19,245 64,733 48 - - 48 - 29,973 - 10,399 40,372 102,355 15,550 - - 15,550 - 15,550 - - 15,550 - 2,811 - 80 2,891 - - - 2,076 2,076 506 2,811 - 2,156 4,967 506
	42,712 - 8,243 50,955 101,849
	74,617 247,470 41,890 363,977 321,068
	74,617 - - 74,617 58,743 - 127,470 - 127,470 - - 50,000 - 50,000 - - 40,000 - 40,000 - - 30,000 - 30,000 - - - - - 174 - - - - 83,558 - - - - 16,444 - - - - 9,439 - - - - 127,731 - - - - 1,778 - - 6,684 6,684 7,068 - - 17,953 17,953 - - - 17,083 17,083 16,132 - - 171 171 -
	74,617 247,470 41,890 363,977 321,068

There may be minor discrepancies in the totals owing to roundings

26

3 Fund Movements

Owing to a change in the repayment schedule of one of the designated funds, the PCC decided to review the existing designated funds to see if they were still suitable for the parish’s plans. As a result, all the old, designated funds were closed, and new ones opened with more specific goals and time frames. The PCC also decided that there was a need for a Contingency Reserve of a minimum of six month’s expenditure in case of similar lockdowns or cessation of normal activities. These are discussed in Note 9 Fund details

Notes Unrestricted 9a General fund Designated 9b Buildings & Major Works Fund 9c Contingency 9d Mission Projects Fund 9e Organ Repair Fund 9j Churchyard Maintenance Fund 9j Legacy Fund 9j Mission Fund 9j Organ & Music Fund 9j PCC Fund No 2 9j St Etheldreda's Hall Table Fund Restricted 9f St Eth's Community Fund 9g St Eths Lighting Fund 9h ST0806A Ellerby Street Trust Fund 9i Youth Choir Grand Total	01-Jan-21 Incoming Outgoing Transfers Gains/losses 31-Dec-21 £ £ £ £ £ £ 58,743 152,907 135,925( 17,981 ) 16,874 74,617 - - 24,105 148,894 2,682 127,470 - - - 50,000 - 50,000 - - - 40,000 - 40,000 - - 384 30,000 384 30,000 174 - -( 174 ) - - 83,558 3,777 2,000( 92,446 ) 7,111 - 16,444 407 4,411( 14,221 ) 1,781 - 9,439 21 -( 9,460 ) - - 127,731 1,594 -( 132,653 ) 3,328 - 1,778 180 -( 1,958 ) - -
	239,125 5,979 30,900 17,981 15,285 247,470 7,068 386 1,213 - 442 6,684 - 18,504 918 - 367 17,953 16,132 4,639 4,524 - 835 17,083 - 1,000 829 - - 171
	23,200 24,529 7,483 - 1,644 41,890
	321,068 183,415 174,309 - 33,804 363,977

There may be minor discrepancies in the totals owing to roundings

27

4 Receipts

Note 4a 4a 4a 4a 4a 4a 4b 4b 4b 4b 4b 4b 4c 4c 4d 4d 4e 4e 4e 4f 4f 4f 4g 4g 4g 4g 4h 4h 4h 4i 4i	Unrestricted Designated Restricted 2021 2020 Receipts £ £ £ £ £ Planned giving Gift Aid - Bank St E 15,192 - - 15,192 13,952 Gift Aid - Bank St C 945 - - 945 600 Gift Aid - Envelopes St E 810 - - 810 1,683 Gift Aid - Envelopes St C - - - - 125 Other planned giving St E 140 - -140 469 Total 17,087 - - 17,087 16,829 Collections and other giving Loose plate collections St E 4,310 - - 4,310 6,195 Loose Plate Collections St C - - - - 288 On Line Giving / ChurchInsight 3,360 - - 3,360 1,338 The Good Box Company / On Line Giving 1,438 - - 1,438 86 One-off Gift Aid gifts - - 2525727 Total 9,108 - 25 9,133 8,635 Other voluntary receipts Non-recurring one-off grants - - 1,0001,00014,795 Total - - 1,000 1,000 14,795 Gift Aid recovered Tax recoverable on Gift Aid 1,307 - - 1,307 4,090 Total 1,307 - - 1,307 4,090 Other receipts Donations appeals etc 8,773 2,180 17,567 28,520 12,501 Other funds generated 920204781,4182,112 Total 9,693 2,200 18,045 29,938 14,613 Activities for generating funds Events Income 8,369 - 625 8,994 - Church Hall lettings St E - fund raisin 51,595 - 80 51,675 35,004 Church Hall lettings St C - fund raisin 50,360 - -50,36018,015 Total 110,324 - 705 111,029 53,019 Investment Income Dividends 3,475 3,058 2,520 9,052 6,153 Bank and building society interest 2 2 2,234 2,238 4,374 Rent from lands or buildings - 720 - 720720 Total 3,477 3,779 4,754 12,010 11,247 Receipts from church activities Fees for weddings and funerals 1,799 - - 1,799470 Total 1,799 - -1,799 470 Charity fund raising activities Charity fund raising 112 - -112 - Total 112 - - 112 - INCOME TOTAL 152,907 5,979 24,529 183,415 123,697	Unrestricted Designated Restricted 2021 2020 £ £ £ £ £ 15,192 - - 15,192 13,952 945 - - 945 600 810 - - 810 1,683 - - - - 125 140 - -140 469

There may be minor discrepancies in the totals owing to roundings

28

5 Payments

Total

		Total	Total
		**Unrestricted **		Designated	Restricted	2021	2020
Note		£		£	£	£	£
5a	Cost of generating funds
5a	Costs of fetes & other events		5,767	765	156 6,688		1,461
5a	FCC CrowdFunded administration costs		-	-		- -	961
5a		Total	5,767	765	156 6,688		2,422
5a
5b	Missionary and Charitable Giving
5b	Giving to missionary societies		-	-		- -	1,616
5b	Home mission		-	-		- -	536
	Secular charities		200	-		- 200	-
5b	FCC CrowdFunded Gifts		-	-	900 900		5,789
5b		Total	200	-	900 1,100		7,941
5b
5c	Parish Share
5c	Common Fund	71,000		-		- 71,000	70,002
5c		Total 71,000		-		- 71,000	70,002
5c
5d	Clergy and Staffing costs
5d	Assistant staff costs		5,232	-	240 5,472		4,049
5d	Working expenses of incumbent		155	-	195 350		613
5d	Water rates - vicarage		366	-		- 366	351
5d	St E telephone		97	-		- 97	60
	Visiting speakers / locums		70	-		- 70	-
		Total	5,920	-	435 6,356		5,072
5e	Church Running Expenses
5e	Education		-	-		- -	585
5e	Parish training and mission		5,000	-		- 5,000	5,000
5e	Church running - insurance St E		1,904	-		- 1,904	1,911
5e	Church running - insurance St C		495	-		- 495	517
5e	Church office - telephone St E		-	-		- -	564
5e	Organ / piano tuning		-	384		- 384	-
5e	Church maintenance St E		8,829	9,318	920 19,067		15,469
5e	Church maintenance St C		201	3,722		- 3,923	4,921
5e	Cleaning St E		7,420	-		- 7,420	3,242
5e	Cleaning St C		2,736	-		- 2,736	898
5e	Upkeep of services		1,762	-	4,154 5,916		922
5e	Administration		4,832	170		- 5,002	4,119
5e	Church running - electricity St E		1,286	-		- 1,286	768
5e	Church running - electricity St C		130	-		- 130	71
5e	Church running - gas St E		508	-		- 508	473
5e	Church running - gas St C		147	-		- 147	127
5e	Church running - water St E		4	-		- 4	15
	Church running - water St C		1,737	-		- 1,737	-
5e		Total 36,992		13,594	5,074 55,660		39,601

29

5e 5f 5f 5f 5f 5f 5f 5f 5f 5f 5f 5f 5f 5g 5g 5g #REF! #REF! 5h 5i 5i 5i 5i 5i 5i	Total Unrestricted Designated Restricted 2020 2019 £ £ £ £ £ Hall Running Costs Hall running - electricity St E 2,406 - - 2,406 1,556 Hall running - electricity St C 1,140 - - 1,140 614 Hall running - gas St E 3,104 - - 3,104 3,057 Hall running - gas St C 1,295 - - 1,295 1,112 Hall running - insurance St E 1,904 - - 1,904 1,911 Hall running - -insurance St C 495 - - 495 517 Hall running - maintenance St E 3,638 1,620 918 6,176 5,831 Hall running - maintenance St C 1,133 14,921 - 16,054 2,841 Hall running - water St E 181 - - 181 714 Total 15,296 16,541 918 32,755 18,154 Church Repairs & Maintenance Church major repairs - structure St E - - - - 8,793 Church major repairs - installation St E - - - - 1,200 Total - - - - 9,993 Hall Repairs & Maintenance Hall + repairs - installation St E - - - - 43 Total - - - - 43 Governance Costs Governance costs examination/audit fee 750 - - 750 - Total 750 - - 750 -	Total Unrestricted Designated Restricted 2020 2019 £ £ £ £ £ 2,406 - - 2,406 1,556 1,140 - - 1,140 614 3,104 - - 3,104 3,057 1,295 - - 1,295 1,112 1,904 - - 1,904 1,911 495 - - 495 517 3,638 1,620 918 6,176 5,831 1,133 14,921 - 16,054 2,841 181 - - 181 714
	EXPENDITURE TOTAL 135,925 30,900 7,483 174,309 153,229
	GRAND TOTAL 16,981 (24,921) 17,046 9,106 (29,532)

30

6 Investments

Investments
	2021	2020
	£	£
Fixed assets
Investments	313,022	219,218

The Fixed Asset (CCLA CBF Church of England Investment Fund - lncome Shares) was revalued in 2020 from Current Asset (CCLA CBF Church of England Investment Fund - lncome Shares) and will be included as a fixed asset until such time as it is the PCC’s intention to dispose of the investment within the next 12 months.

7 Debtors

Debtors includes rent for occupation of the hall at St Etheldreda’s which was invoiced before the year end but paid after the year end.

Cash at bank represents the amounts held in Current and Deposit accounts with Lloyds Bank plc. In the course of 2021, the PCC decided to seek better returns on cash that was not required for immediate purposes. Anything in excess of £50,000 was reinvested in the CBF Church of England Invest Fund – Income Shares. This will be reviewed periodically.

31

8 Creditors: Amounts falling due in one year

Agency collections Accounts Payable	2021 2020 £ £ 2,076 506 2,891 -
	4,967 506

Agency collections are amounts collected by the church on behalf of others, such as retiring collections or fees payable to the London Diocesan Board of Finance. These will be paid after the year end.

Accounts payable represent operating costs incurred before the year end which will be paid after the year end.

9 Fund details

**Nature **	Name	Description
Unrestricted
9a	General fund	This represents funds generally available to the
		PCC to carry out its mission and objectives.

Designated

Designated funds are unrestricted funds which the PCC has designated to be used for specific purposes within the parish, but which could be available if required for general purposes without reference to original donors or grantors.

In November 2021, the PCC decided that the previous Designated Funds were insufficiently defined and needed to be re-designated in accordance with the parish’s new priorities.

2021	Fund Designations
9b	Buildings & Major Works	The parish buildings, both churches and halls,
	Fund	require constant attention in order to maintain them
		in the best condition possible. A regular round of
		refurbishment is required to keep the halls in good
		order to generate the income on which the parish
		depends. In addition, the PCC wishes to extend the
		office space available in the church to allow for staff
		to be taken on for missional activities.

The PCC set a goal of £200,000 to be built up for use in the next five years. This would be for these building projects. The parish has not yet managed to build sufficient reserves to allow major works to commence and it is the intention to set aside a minimum of £20,000 a year from general funds to build this up. 9c Contingency As recommended in best practice guidance, the PCC resolved to establish a Contingency Reserve equivalent to six months expenditure, excluding the Common Fund in order to be able to pay bills arising

32

Nature Name Description

• in the event of the closure of the church as happened in 2020/2021

• 9d Mission Projects Fund The purpose of the parish is to bring the people of the parish to God. The PCC decided that in order to allow large or special mission projects to go ahead, a reserve of £50,000 for specific missional activities (which would be identified, costed, resourced, and subsequently evaluated for success). This fund represents a three year cycle of major projects.

• 9e Organ Repair Fund St Etheldreda’s church currently uses an organ for worship which needs cleaning (and possibly repair) we currently have an organ which will need serious repair. The PCC decided in 2019 that it would be cleaned, but all work was stopped owing to Covid. At that stage, a quote for £30,000 was obtained. The PCC intends to use this fund to pay for the cleaning of the organ prior to undertaking any more major restoration, which would be in the region of £60-70k

• 2020 Fund Designations 9j Churchyard Maintenance This Fund was established for the proper Fund maintenance of the Churchyards in the parish, funded from fees for interments.

• 9j Legacy Fund This Fund was established by the PCC from moneys left to it from bequests and “In Memoria.”

• 9j Mission Fund This Fund was established from a non- recurring grant of £20K received to fund training work in the Parish and to assist in financing the training of a Parish Children’s and Youth Apprentice over a three-year period. Annual payments of £5K to be paid in the September following the end of each academic year. The money to be invested in the PCC No 2 Fund and drawn down when required. Once such payment has been made so far.

• 9j Organ & Music Fund The PCC established this fund to provide, inter-alia, for the cleaning and overhaul of the organ at St Etheldreda's.

• 9j PCC Fund No 2 (Formerly known as CT0906B Mission Hall Trust Fund) This fund was established from the lease of the Mission Hall site and PCC land to Shepherd's Bush Housing Group in 1992. The fund is held by the London Diocesan Authority who are the Custodian Trustee on deposit with the CBF, with the PCC as Managing Trustee.

• 9j St Etheldreda's Hall Table The PCC established this Fund to provide for new Fund tables and chairs in all the halls.

33

Nature Name Description Restricted

Restricted funds are those which may only be used in the way specified by the original donor or grantor. Permission must be obtained before they are to be used for other purposes.

• 9f St Eth's Community Fund

• In 2020, a fund was established to collect money for relief of poverty and distress in the Fulham area in response to the Covid crisis. This was called the Fulham Community Care Fund (FCC). Within 2020, St Etheldreda obtained grants for similar objectives. As the FCC had stopped being called upon towards the last part of the year, the PCC agreed to amalgamate the funds into the St Eth’s Community Fund.

• 9g St Eths Lighting Fund

• As a result of the last Quinquennial survey, the parish must replace the entire lighting system and associated wiring, as well as the audio system in the church. This is an urgent project but has been unable to proceed owing to lockdowns and the consequent delays in obtaining quotes and faculties. It is estimated that the cost will be in region of £120,000. Initial fundraising events were held over Zoom to kick start the project, although the PCC will need to apply for grants to cover the bulk of the costs.

• 9h ST0906A Ellerby Street This fund was established from the sale of the Trust Fund curate's house, 29 Ellerby Street SW6. It is invested by the London Diocesan Authority as Custodian Trustee with the Central Board of Finance.

• 9i Youth Choir The PCC received a grant of £1,000 to establish a Youth Choir in parish. This paid for the employment of a choir leader to train the voices of the children and educate them in choral singing.

10 Transactions with members of the PCC

Director of Music (Mrs U Chapple – PCC Member until Oct 2020 & from June 2021) Cleaner (Mrs Lisa Johnson)	2021 2020 £1,250 £1,250 £3,233 £2,023
	£4,483 £3,273

The amounts paid to Mrs U Chapple in 2020 reflect those made to her in her role as Director of Music until she ceased being an elected member of the PCC. She was re-appointed to the PCC at the June 2021 APCM. The amounts indicated above reflect the period when she was a member of the PCC.

34