ST MArrHEW'S CHURCH, FULHAM ANNUAL REPORT AND OF THE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31ST DECEMBER 2020 Adminlstrative inforniation St. Matthews Church is situated in Wandsworth Bridge Road, Fulham. It is part of the Diocese of London within the Church of England. The correspondence addre88 18 St Matthew'8 Church, Wandsworth Bridge Road, London SW6 2TX. The PCC 18 registered charity 1165338. PCC members who have served from 1 St January 2020 until the date this report was approved are: Incumbent .' The Rev'd William Rogers (Chairman) Sue Pierson (Deaconess) The Rev'd Katherine Miller (Curate) ( to 23 August 2020) Wardens .' Steve Howard Tim May Representatives on the Deanery Synod.. Marion Machin ( to 21 October 2020) Julie Reynolds Elected members." Chas Avella Barbara Dafnides Louise Docker Sharon Lemon ( from 21 October 2020) Luke Marlow ( to 15 February 2020) David Strange Minutes secretary." Pam Tetlow (to 21 October 2020) Structure, governance and management The method of appointment of PCC members is set out in the Church Representation Rules. All Church attendees are encouraged to register on the Electoral Roll and stand for election to the PCC. Objectives and Activities st Matthews PCC has the responsibility of co-operating with the incumbent, the Rev'd William Rogers, in promoting in the ecclesiastical parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical. It also has maintenance responsibilities for the Church building in Wandsworth Bridge Road and the Vicarage Room and intemal upkeep of the Vicarage and 2a Clancarty Road, Fulham. Achievements and Perforniance The full PCC met seven times during the year, either in person or via video meeting with an average level of attendance of over 75 % Katherine Miller, part~time curate, started matemity leave from 23 August 2020 and took temporary leave from the PCC which she will rejoin in 2021. She is funded jolntly by St Matthew's and the Diocese. Partial funding for our youth work continued to be provided by grants thanks to the generosty of Fulham YMCA. We continued to employ Sharon Rogers as a part time church administrator. Laura Hicks left her post on 31 July and was replaced as part time youth worker by Josh Ananda-Rajan who is also running the weekly Mosaic group for older teenagers and supporting the Vicar whilst the curate is on matemity leave. Josh is studying at bible college and joined St Matthew's on an initial one-year contract. We are grateful to our employees for their services and to all the other volunteers who do so much to enable St Matthew's to function as a welcoming worship community and to serve the local community. During the Covid-19 pandemic St Matthew's continued to provide weekly services either in church when this was allowed or via live streaming, without any interruption. Members gathered even more frequent for online prayer meetings and many small groups were able to continue, also online.
ilst some activities and groups, notably Matts Tots were unable to continue, every effort was made to ensure that isolated and vulnerable people in our thurch community and outside in the parish were contacted, supported with essential food deliveries and 80 forth. Services were able to resume in church after a break of several months but with Covid restriction8 Still in place and many people unable or unwilling to attend in person we continued to livestream services and intend to continue to do so in the future even after restriction8 are removed completely. An additional moming service for young families was introduced and proved to be 8ucce8sful. Sadly, events we had planned in recognition of the 125th anniversary of St Matthew's had to be postponed but we will decide how to celebrate in 2021 and beyond. Some of our nonnal Christma8 activities such as the Seniors, Christmas Lunch had to be cancelled but we delivered Christmas Lunch boxes to many people and held a socially-distanced, ticketed Carol service which was enjoyed by many both in person and online. At the time of signing this report the UK vaccination programme is progressing very well and the country is undergoing a series of carefully monitored relaxations of lockdown. We are hopeful for the future, we moum for those we have lost and with those who have suffered during this difficult year and we are thankful to God for his mercy and for the resilience he has given our church and community. Financial Review In a difficult year we were grateful to all thosè who continued to support st Matthew's Church so_ generously. Income was restricted as we were unable to allow organisations to rent the church building. Fulham YMCA had to stop their monthly grant payments for several months but recommenced them by the end of the year. Some members of the congregation were forced to reduce their regular giving but others increased their contributions and some members gave regularly for the first time. Total receipts on general unrestricted fund were £100,070 (2019 ~ £108,24n as detailed in the Financial statements. Legacy income was nil (2019- £64). £105,881 (2019 - £102,452) was spent from general funds to provide the Christian ministry from St Matthews Church. Expenditure included £65,208 (2019- £62,400) contribution to the diocesan Common Fund which provides the stipends and housing for the clergy. Expenditure savings were made where possible without affecting the provisions of services and additional costs of -£10,000, some of whlch are non-recurring, were incurred in order to enable live streaming of services. Unrestricted fund receipts in 2020 included an exceptional donation of £15,000. Rental income ceased completely after Covid-19 lockdown and other income was negligible. Overall, regular giving decreased but only by around 1 % . We were pleased to be able to meet ourcommitment for a 4.5 % increase in common fund butthis required some depletion of reserves. We have committed common fvnd at the same level in 2021. We are able to do this because we expect to receive a share of the proceeds of the sale of the former St Michael's building. The precise amount we will receive is currently uncertain. The net result was overall a general fvnd deficit~of £10,560 (2019 - deficit of £3,505). PCC decided to continue to distribute 12.5 % the percentage of receipts from church members distributed to our mission partners. After this reallocation the net result was a deficit of£22,969 meaning that the general fund dosed 2020 at £50,331. Reserves policy It is PCC policy to maintsin an adequate balance on unrestricted funds, which would enable the Church to cover any emergency situations that may arise unexpectedly. The balance on unrestricted funds at the year-end was £687,807 (£98,396 exduding assets held for church purposes) and we are thankful to God for his goodness. It is our policy to invest our fvnds balances with the CBF Church of England Deposit Fund. d by the Parochial Church Councll on 12 April 2021 and signed on their behalf by Rev'd ogers (PCC Chalmian) Appro
Parochial Church Council of St Matthew's, Fulham Statement of Financial Activities For the year ended 31 December 2020 Registered Charity number 1165338
Parochial Church Council of St Matthew's , Fulham Statement of Flnanclal Actlvltles For the year ended 31 December 2020 Unre8tricted Restricted Funds Funds TOTAL TOTAL FUNDS 2020 FUNDS 2019 Notes Incoming Resources Voluntsry Income Activities for generating funds Income from Investments Church Actlvities 2a 2b 99,200 1,840 501 417 99,200 1,840 601 417 92,280 14,513 241 1,213 108,247 2d Total 101,958 101,968 Resources expended Church Activities Costs of generating voluntary income 3a 3b 132,852 37 132,852 37 110,557 65 Total 132,889 132,889 110,622 Net incomel(expenditure) Transfer tol(from) funds Other recognlsed galnsl(losses): Gains and losses on revaluation of fixed assets for the charity's own use Net movement in funds -30,931 40,931 -2,375 40,931 40,931 -2,375 Reconcillation of funds: Total fvnds brought fOard 718,739 320 719,069 721,434 Total funds carrled forward 687,808 320 688,128 719,059 Page 2
Parochial Church Council of St Matthew's , Fulham BALANCE SHEET AT 31 December 2020 Notes 2020 2019 Fixed assets Tangible assets 10 660,000 650,000 Current assets Debtors and Prepayments Cash at bank and in hand 3,701 36,819 40,620 22,624 47,559 70,183 Creditors: amounts falling due within one year Net Current Assets -2,392 38,128 -1,124 69,059 Total assets 688,128 719,059 Funds of the charlty Restricted funds Unrestricted funds 320 687,808 320 718,739 719,059 11 688,128 Approve bythe arochial Churth Council on 12 April 2021 and signed on its behalf ers ai an The notes on pages 4 to 8 fomi a part of these financial statements. Page 3
Parochial Church Council of St Matthew's , Fulham NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 December 2020 1. Accounting policies The PCC is a public benefit entity within the meaning of FRS102. The financial statements have been prepared under the Charities Act 2011 and in accordance with the Church Accounting Regulations 2006 governing the individual accounts of PCC, and with the Regulations Irue and falr view, provisions. The accounts have been prepared under FRS102 (2016) as the applicable accounting standards and the 2016 version of the Statement of Recommended Practi, Accounting and Reporting by Charities (SORP(FRS102)). ASSETS Fixed Assets Consecrated and benefi propety is not included in the accounts in accordance with section 10(2) (a) and (c) of the Charities Act 2011. Fixed assets retained for church use is the freehold property "The Vicarage Room" per note 10. Short temi deposits These are the cash held on deposit either with the CCLA or at the bank. Current Assets Amounts owing to the PCC at 31 Dember in respect of fees, rents or other income are shown as debtors less provisions for amounts that may prove uncollectible. Short-term deposits indude cash held on deposit either with the CBF Church of England Funds, or at the bank. FUNDS Unrestricted Funds These represent the remaining income fvnds of the PCC that are available for spending on the general purposes of the PCC, including amounts designated by the PCC for its own use or for spending on a future project and whith are therefore not induded in its "free reserves" as disclosed in the trustees, report Restricted Funds These are income funds that must be must be spent on restricted purposes and details of the funds held and restrictions provided are shown in the notes to the accounts. Incoming resources Planned giving, collections and similar donations are recognised when received. Tax refvnds are recognised when the incoming resour to which they relate is received. Grants and legacies are accounted for when the PCC is entitled to the use of the resources, their ultimate receipt Is considered reasonably certain and the amounts due are readily quantifiable. Interest is accounted for as and when accrued by the payer. All incoming resources are accounted for gross. Resources expended The diocesan parish share expected to be paid over is accounted for when you all other expenditure is generally recognised when it is incurred and is accounted for gross. Page 4
Parochial Church Councll of St Matthew's , Fulham NOTES TO THE FINANCIAL STATEMENTS (contlnued) FOR THE YEAR ENDED 31 December 2020 2. Incoming Resources Unrestricted Restricted Fund8 Fund8 TOTAL TOTAL FUNDS 2020 FUNDS 2019 Notes a Voluntary income Planned giving Collections at all Services Sundry donations and appeals Legacies Grants Income tax recoverable 53,234 1,161 20,953 63,234 1,161 20,963 55,963 3,572 8,885 7,057 16,795 99,200 7,067 16,795 99,200 9,173 14,623 92,280 b Activities for generating funds Lettings of church buildings Rentsl of Vicarage Room 340 1,500 340 1,600 11,013 3,500 14,513 1,840 1,840 c Income from Investments Interest on Deposit Account 501 501 241 501 501 241 d Church Activities Fees from weddings etc 417 417 1,213 417 417 1,213 Total incoming resources 101,958 101,958 108,247 Page 5
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 December 2020 3. Resources expended Unrestricted Restricted Funds Funds TOTAL TOTAL FUNDS 2020 FUNDS 2019 Notes a Church Activities Ministy costs - DI0$an parish contribution Ministy costs - Other dergy costs Ministy costs . Pastoral assistant salaries Ministy costs - Vicarage expenses Church running expenses Churth decoration expenses Church maintenance Vicarage room running expenses servi and teaching expenses Missionary and charitsble giving Other expenses 65,208 9,949 13,781 41 10,488 10,722 139 1,702 4,082 16,687 53 66,208 9,949 13,781 41 10,488 10,722 139 1,702 4,082 16,687 53 62,400 11,179 11,566 228 10,777 3,362 1,461 3,318 5,387 529 350 132,852 132,862 110,557 b Raislng funds Stewardship costs 37 37 65 37 37 65 Total expenditure 132,889 132,889 110,622 4. Staff costs 2020 2019 a Wages and salaries 13,781 11,566 The PCC employed a bible teacher for 11-18 year olds on a part-time for part of the year at a cost of £2,793. This person also covered Some tssks of the curate who was on maternity leave from September 2020. A church administrator, also on a part time basis was employed throughout the year at a cost of £6,732. This employee is the spouse of the incumbent The administrator was plad on fvrlough for part of the year and £1,888 was claimed from the Governmenfs Covid-19 Job Retention Scheme in respect of this. This is disclosed as grant income. The curate is employed by the Diocese and the PCC made a contribution of £4,256 towards her costs of employment There were no employee benefits to key management personnel in the previous or current years. 5. Related Partles A small and immaterial portion of the expenses paid to the incumbent may have related to his ServIS as Chaimian of the PCC. No other payments or expenses were paid to any other PCC member, persons closely connected to them or related parties except as disclosed in note 4. Page 6
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 December 2020 6. Grants 2020 2019 Fulham YMCA re St Matthews Mission Charlotte Sulivan Charity HMRC Job retention Scheme 4,669 600 1,888 7.067 9,173 9,173 7. Analysis of Net assets by fund Unrestricted Restricted Funds Funds TOTAL TOTAL FUNDS 2020 FUNDS 2019 Fixed assets Current assets Current liabilities 650,000 40,520 -2,392 688,128 650,000 40,520 -2,392 688,128 650,000 70,183 -1,124 719,059 8. Debtors 2020 2019 Gift aid tax recoverable Income tax & national insurance recoverable Rental income accrued Prepayments 3,201 14,544 6,580 1,000 500 22,624 500 3,701 9. Creditors . amounts falling due within one year 2020 2019 Accruals for service and administration fees 2,392 2,392 1,124 1,124 10. Tangible Fixed Assets Freehold land & buildings Total At the beginning of the year Additions Revaluations At the end of the year 650,000 650,000 650,000 650,000 'The Vicarage Room" 2b Clancarty Road, on the site of St Matthews vicarage, was converted from a church hall into a dwelling during 2018 and is now used to house a youth bible teacher and to provide some rental income. The last market valuation of the property was obtained in December 2018. Page 7
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 December 2020 11. Statement of funds Bal blfwd 1 Jan 2020 Income Expenditure Transfers, Bal clfwd other gains 31 Dec 2020 and losses Unrestricted Fund General fund Designated - Vicarage Room revaluation Designated - CMS Designated - Tear Fund Designated - Care for the Family Designated - Hammersmith & Fulham Foodbank Designated - Building Designated - STMF Mission 73,300 589,411 6,214 3,225 3,108 3,118 6,719 33,644 97,209 -107,769 -12,409 60,331 589,411 3,763 1,882 1,882 1,882 9,689 28,968 4,214 -3,225 -3,108 4,118 -30 -9,425 3,763 1,882 1,882 1,882 3,000 4,749 718,739 101958 -132,889 687,808 Restricted Fund Restricted - CPAS Restricted - Lan Pierson Restricted - CMS Restricted - Tear Fund 10 310 10 310 320 320 Total funds 719,059 101,958 -132,889 The restricted funds represent fvnds raised by church members and others (x>nnected with the churth to be donated to mission partners to fvrther their christian objects"ves. 688,128 Page 8