**Charity registration number 1166071** **PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF SAINT JOHN THE APOSTLE & EVANGELIST, WATFORD** # **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020** ## **PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD** ## **LEGAL AND ADMINISTRATIVE INFORMATION** |**Trustees**|Rev David Stevenson| |---|---| ||Jill Bennett| ||Robin Davis| ||Sophia Dunnicliffe| ||Alexander Handley| ||Susan Jermyn| ||Helen Langeveld| ||Jannice Mordue| ||Jennifer Nickson| ||Liz Sheasby| ||Robert Wildmore| ||Michael Willis| |**Charity number**|1166071| |**Principal address**|Sutton Road| ||Watford| ||Hertfordshire| ||WD17 2QQ| |**Independent examiner**|John Wilson FCA ATII| ||Howard Wilson Chartered Accountants| ||36 Crown Rise| ||Watford| ||Hertfordshire| ||WD25 0NE| ## **PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD** ## **CONTENTS** ||**Page**| |---|---| |Trustees' report|1 - 3| |Independent examiner's report|4| |Statement of financial activities|5 - 6| |Balance sheet|7| |Notes to the financial statements|8 - 22| ## **PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD** ## **TRUSTEES' REPORT** ## _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ The Parochial Church Council members present their annual report and financial statements for the year ended 31 December 2020. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). ## **Objectives and activities** The charity's objects are promoting the whole Mission of the Church of England in the Ecclesiastical Parish of St John the Apostle and Evangelist, Watford. Parochial Church Council of The Ecclesiastical Parish of St John’s the Apostle & Evangelist, Watford (PCC) and the Churchwardens have the responsibility of co-operating with the incumbent in promoting the ecclesiastical parish, the whole mission of the Church, pastoral, evangelistic, social and ecumenical. The PCC is also responsible for the maintenance of St. John’s Church and Church Hall, Watford. The PCC members have paid due regard to guidance issued by the Charity Commission in deciding what activities the PCC should undertake. ## **Achievements and performance** The Parish Church of St John the Apostle and Evangelist sits in the very heart of Watford, the largest town in the County of Hertfordshire. The present building was built in the 19th century and stands as a beacon of AngloCatholic tradition within the Church of England. The parish is under the Episcopal care of the Lord Bishop of St Albans, the Rt. Revd. Dr Alan Smith within the Suffragan See of Hertford in the care of the Rt. Revd. Michael Beasley. We are a diverse group of people and strive to embrace the radical inclusivity of Christ’s Gospel which embraces all people, irrespective of where or who they are in their lives. We live and worship with the St Alban's Diocese Vision in mind - Living God's Love and our own parish vision of - Serving God, Serving Our Community, Serving You. The parish sits within a tightly packed network of streets, houses and businesses. As with most of the Greater London area, our parish has a diverse mixture of ethnic communities, social/economic and faith groups to serve. Over the past year we have seen significant development plans and construction for Clarendon Road, gentrification of the housing stock, new homes, apartments and new and improved transport links. At present we are a growing congregation with an average attendance of around 30 to 50 adults and children on a Sunday. 2020 has been a strange year due to COVID-19 and has changed the way we have worshipped and interacted with ourselves and the community. However, the rhythm of the Church Year as set out in the Lectionary and Order for the Eucharist, continues to provide stability and guide us within the Universal Church as we make our life pilgrim journey to God. COVID hit the country on the very brink of Holy Week, effectively bringing a stop to all church and community activities. Like everyone else we had to work out very quickly how to respond to the community and parishioners at this worrying time. It was very difficult to bring our church services in person to a halt, also the HUB Youth Group, Messy Church, Coffee Morning and visits to St John's Primary School and the postponement of all Baptisms and Weddings. Funerals were strictly governed by government and church policies and were conducted with minimal attendance at the crematorium or by the graveside. - 1 - ## **PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD** ## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ Until COVID hit our parish outreach was in full swing engaging with the community. Sunday Hub was led by Robin, Liz and Jenny for our 9 to 15 year olds every Sunday at Church. The young people start at 10:30 and engage in prayer, reading the Bible and having a focused discussion group on specific topics that they are faced with in their lives. This is proving popular with them and in a natural follow on from The Hub on Friday evenings. The Hub Youth Group engaged with the youth of our parish, providing a welcome space for those who wish to attend. Each week between 15 to 22 young people attend the youth club held in the Church Hall. We have a wellstocked tuck shop in which we are introducing healthy eating options, games room and craft activities for them to start their weekends with. Cancellation of this has been a huge blow to our young people. Thanks to Alex, Charis, Susan, Eira, Brian, Ama, Aga, Liz, Robin, Gill and Salim who help out with the adult support and guidance. Community Coffee Morning is an important part of the parish weekly routine. Thank you to the team that makes this happen like clockwork every Wednesday morning with great tea, coffee, fresh cakes and great hospitality. This coffee morning is a vital part of our community outreach and has been greatly missed. Monthly Parish Lunch remains a staple part of our fellowship and hospitality offered at St John’s. We have successfully moved lunch to St John’s Community Hall, making for a lighter and brighter environment for all, the garden to sit in the sun and for children to play safely and bigger kitchen to cook in. Thanks to Robin for organising lunch and Bill, Liz and others who help produce such wonderful meals for us all. We look forward to when these can resume again. Communication remains vital to the parish engagement with the community and sharing the Gospel during this COVID time. Our Facebook pages, Website and weekly E-bulletin continue to grow in readership and we are very grateful to Simon and Robin for keeping much of these up to date, vibrant and relevant to what is going on. All our communications are linked to St John’s Primary School and prove very effective in our parish community knowing and engaging with our church and school families. Following an exceptional fundraising effort in 2019 with our 'Keeping the Music Alive' concert series to raise money for the full restoration of our historic and nationally listed Walker Organ, we were only able to have one event in the first quarter of the year. Sadly our annual events such as Beer Tasting, Beetle Drive, Fish'n’Chip Quiz night and Bingo had to be cancelled. St John’s Primary School has remained open as much as possible during the Pandemic. The school is still growing from strength to strength with all our staff, pupils and their families cared for as much as we can. The distinct Christian values and ethos of the Church are evident in online learning and it is good to see the school building open and alive with albeit reduced pupil numbers and activities. Giving has remained faithful over the pandemic period, however there has been a significant drop in monies from fundraising, candles, social events. This is to be expected due to the circumstances we find ourselves in. We continue to encourage all parishioners to join in the Parish Giving Scheme, while also offering the weekly Envelop Giving Scheme and online giving. Safeguarding remains at the forefront of our parish lives. DBS checks for volunteers and rechecks have been carried out for this year. The PCC continued to actively endorse the Safeguarding Policy and work to ensure all relevant workers and volunteers received DBS checks where required. The Diocese has provided good online resources and relevant training online so we are able to keep up to date with protecting all of God's people. Our church wardens have done a sterling job in keeping the fabric and buildings of the parish in good condition over the pandemic. Church has remained closed for three quarters of the year with only the Vicar and Wardens having access. A weekly check of the church is made. This has included keeping the heating on low, the organ started and left on for 15 minutes and making sure that security is intact. This also applies to the church hall, which we share the care of with our resident tenants, Superstep Nursery and Dotted Note School of Music. - 2 - ## **PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD** ## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **Financial review** The results for the year reflect the limitations imposed by the Covid pandemic. The income for the year was £91,394, down by £54,863 on the previous year (2019: £146,257). Expenditure was down by £11,214 at £147,203 (2019: £158,417). This resulted in a deficit for the year of £53,808 compared to a deficit of £7,950 in 2019. The reserves carried forward at the year end were £784,622, of which £19,651 related to restricted funds and £2,250 related to endowment funds. The unrestricted funds includes an amount of £613,603 held as tangible fixed assets at the year end. It is the policy of the PCC that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the PCC's current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. The trustees have assessed the major risks to which the PCC is exposed and are satisfied that systems are in place to mitigate exposure to the major risks. ## **Structure, governance and management** The constitution of the PCC is set out in the Parochial Church Councils (Powers) Measure 1956 as amended and the Church Representation Rules (contained in Schedule 3 to the Synodical Government Measure 1969 as amended). The trustees who served during the year and up to the date of signature of the financial statements were: Rev David Stevenson Jill Bennett Robin Davis Sophia Dunnicliffe Alexander Handley Susan Jermyn Helen Langeveld Jannice Mordue Jennifer Nickson Liz Sheasby Robert Wildmore Michael Willis (appointed 07 October 2020) Members of the PCC are appointed at the Annual Parochial Church Meeting and serve for a period of three years. The trustees' report was approved by the Board of Trustees. ## David Stevenson ## **Fr David Stevenson Parish Priest** 19 April 2023 - 3 - ## **PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD** ## **INDEPENDENT EXAMINER'S REPORT** ## **TO THE TRUSTEES OF PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD** I report to the trustees on my examination of the accounts of Parochial Church Council (“PCC”) for the year ended 31 December 2020. ## **Responsibilities and basis of report** As members of the PCC you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (the 2011 Act). I report in respect of my examination of the PCC’s accounts carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner's statement** Your attention is drawn to the fact that the PCC has prepared accounts in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for accounts to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: - 1 accounting records were not kept in respect of the PCC as required by section 130 of the 2011 Act; or - 2 the financial statements do not accord with those records; or - 3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set 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 examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. ## **John Wilson FCA ATII** Howard Wilson Chartered Accountants 36 Crown Rise Watford Hertfordshire WD25 0NE Dated: 19 April 2023 - 4 - ## **PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD** ## **STATEMENT OF FINANCIAL ACTIVITIES** ## _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ |**Current financial year**
**Unrestricted**
**Restricted Endowment**
**funds**
**funds**
**funds**
**2020**
**2020**
**2020**
**Notes**
**£**
**£**
**£**
**Income and endowments from:**
Giving
**3**
53,176
-
-
Charitable activities
**4**
4,464
-
-
Income from investments
**5**
33,754
-
-
Other income
**6**
-
-
-
**Total income**
91,394
-
-
**Expenditure on:**
Raising funds
**7**
40,029
113
-
Charitable activities
**8**
104,980
2,081
-
**Total expenditure**
145,009
2,194
-
Net gains/(losses) on investments
**12**
1,856
-
145
**Net (outgoing)/incoming resources before**
**transfers**
(51,759)
(2,194)
145
Gross transfers between funds
2,695
(2,695)
-
**Net (outgoing)/incoming resources**
(49,064)
(4,889)
145
Fund balances at 1 January 2020
811,785
24,540
2,105
**Fund balances at 31 December 2020**
762,721
19,651
2,250|**Total**
**2020**
**£**
53,176
4,464
33,754
-
91,394
40,142
107,061
147,203
2,001
(53,808)
-
(53,808)
838,430
784,622|**Total**
**2019**
**£**
47,524
12,483
84,551
1,699
146,257
38,956
119,461
158,417
4,210
(7,950)
-
(7,950)
846,380
838,430| |---|---|---| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 5 - ## **PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD** ## **STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ |**Prior financial year**
**Unrestricted**
**Restricted Endowment**
**funds**
**funds**
**funds**
**2019**
**2019**
**2019**
**Notes**
**£**
**£**
**£**
**Income and endowments from:**
Giving
**3**
46,144
1,380
-
Charitable activities
**4**
3,715
8,768
-
Income from investments
**5**
84,551
-
-
Other income
**6**
1,699
-
-
**Total income**
136,109
10,148
-
**Expenditure on:**
Raising funds
**7**
37,726
1,230
-
Charitable activities
**8**
113,496
5,965
-
**Total expenditure**
151,222
7,195
-
Net gains/(losses) on investments
**12**
3,905
-
305
**Net (outgoing)/incoming resources before transfers**
(11,208)
2,953
305
Gross transfers between funds
(1,327)
1,327
-
**Net movement in funds**
(12,535)
4,280
305
Fund balances at 1 January 2019
824,320
20,260
1,800
**Fund balances at 31 December 2019**
811,785
24,540
2,105|**Total**
**2019**
**£**
47,524
12,483
84,551
1,699
146,257
38,956
119,461
158,417
4,210
(7,950)
-
(7,950)
846,380
838,430| |---|---| - 6 - ## **PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD** ## **BALANCE SHEET** ## _**AS AT 31 DECEMBER 2020**_ |**2020**
**Notes**
**£**
**£**
**Fixed assets**
Tangible assets
**14**
613,603
Investments
**15**
2,250
615,853
**Current assets**
Debtors
**17**
5,367
Investments
**18**
28,935
Cash at bank and in hand
145,959
180,261
**Creditors: amounts falling due within**
**one year**
**19**
(11,492)
Net current assets
168,769
**Total assets less current liabilities**
784,622
**Capital funds**
Endowment funds
**21**
2,250
**Income funds**
Restricted funds
**22**
19,651
Unrestricted funds
Designated funds
**23**
651,262
General unrestricted funds
111,459
762,721
784,622
The financial statements were approved by the Trustees on 19 April 2023
Jennifer Nickson
avid Stevenson|**2019**
**£**
38,848
27,079
163,486
229,413
(8,978)
712,306
99,479|**£**
615,890
2,105| |---|---|---| |||617,995
220,435| |||838,430| |||2,105
24,540
811,785| |||838,430| |||| ## David Stevenson **Fr David Stevenson Jennifer Nickson Parish Priest PCC Churchwarden** - 7 - **PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD** ## **NOTES TO THE FINANCIAL STATEMENTS** ## _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **1 Accounting policies** ## **Charity information** Parochial Church Council of the Ecclesiastical Parish of Saint John the Apostle & Evangelist, Watford is a charity registered in England and Wales, registered number 1166071. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** - Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity. ## **1.4 Income** Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. - 8 - ## **PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **1 Accounting policies** **(Continued)** Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. ## **1.5 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. ## **1.6 Tangible fixed assets** Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Freehold land and buildings Nil Furniture, fixtures, fittings and vestments 33% on reducing balance Computer & electrical equipment 50% on reducing balance Church items of beauty 10% on reducing balance Freehold land and buildings are not depreciated as the currently estimated residual value of the properties is not less than their carrying value and the remaining useful life of these assets currently exceeds 50 years, so that depreciation charges would be immaterial. ## **1.7 Fixed asset investments** Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred. ## **1.8 Impairment of fixed assets** At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). ## **1.9 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## **1.10 Financial instruments** The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. - 9 - **PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **1 Accounting policies** ## **(Continued)** ## _**Basic financial assets**_ Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. ## _**Basic financial liabilities**_ Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. ## _**Derecognition of financial liabilities**_ Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled. ## **1.11 Retirement benefits** Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. ## **2 Critical accounting estimates and judgements** In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. ## **3 Giving** |**Unrestricted**
Unrestricted
Restricted
**funds**
funds
funds
**2020**
2019
2019
**£**
£
£
Planned giving
28,176
35,972
1,380
Legacies receivable
25,000
10,172
-
53,176
46,144
1,380|Total
2019
£
37,352
10,172| |---|---| ||47,524| - 10 - ## **PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ |**3**
**Giving**
**Planned giving:**
Tax efficient planned giving
Collections at services
Collections at small groups
Other planned giving
All other giving and voluntary receipts|19,167
6,018
413
-
2,578
28,176|23,056
8,165
1,714
20
3,017
35,972|**(Continued)**
-
23,056
-
8,165
-
1,714
-
20
1,380
4,397
1,380
37,352|**(Continued)**
-
23,056
-
8,165
-
1,714
-
20
1,380
4,397
1,380
37,352| |---|---|---|---|---| |||||37,352| ## **4 Charitable activities** ||**Charitable**|**Charitable**| |---|---|---| ||**activities**|**activities**| ||**2020**|**2019**| ||**£**|**£**| |Community and social events|2,998|11,369| |Magazines and candles|239|205| |Statutory fees|1,227|909| ||4,464|12,483| |**Analysis by fund**||| |Unrestricted funds|4,464|3,715| |Restricted funds|-|8,768| ## **5 Income from investments** ||**Unrestricted**|Unrestricted| |---|---|---| ||**funds**|funds| ||**2020**|2019| ||**£**|£| |Rental income|32,192|82,259| |Interest receivable and dividends|1,562|2,292| ||33,754|84,551| - 11 - ## **PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **6 Other income** |Other income
**Raising funds**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2020**
**2020**
**£**
**£**
Raising funds
Direct costs of charitable
& ancilliary trading
618
-
Rent collection, property
repairs & maintenance
charges
39,411
113
Raising funds
40,029
113|**Total Unrestricted**
**funds**
**2020**
**2019**
**£**
**£**
-
1,699
**Total**
Unrestricted
Restricted
Total
funds
funds
**2020**
2019
2019
2019
**£**
£
£
£
618
1,898
1,230
3,128
39,524
35,828
-
35,828
40,142
37,726
1,230
38,956|**Total Unrestricted**
**funds**
**2020**
**2019**
**£**
**£**
-
1,699
**Total**
Unrestricted
Restricted
Total
funds
funds
**2020**
2019
2019
2019
**£**
£
£
£
618
1,898
1,230
3,128
39,524
35,828
-
35,828
40,142
37,726
1,230
38,956| |---|---|---| |||Total
2019
£
3,128
35,828| |||38,956| ## **7 Raising funds** - 12 - ## **PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **8 Charitable activities** ||**Church**|**Church**| |---|---|---| ||**Activities**|**Activities**| ||**2020**|**2019**| ||**£**|**£**| |Staff costs|12,293|11,817| |Depreciation and impairment|3,314|3,945| |Clergy and staff training|1,779|236| |Diocesan Parish Share|29,058|25,216| |Major repairs and renewals|28,609|35,975| |Mission and evangelism|1,817|9,787| |Running costs|18,714|21,398| |Utilities|9,064|4,018| |Charitable donations|2,413|7,069| ||107,061|119,461| |**Analysis by fund**||| |Unrestricted funds|104,980|113,496| |Restricted funds|2,081|5,965| ||107,061|119,461| **9 Charitable donations** ||**Church**|Church| |---|---|---| ||**Activities**|Activities| ||**2020**|2019| ||**£**|£| |Grants to institutions:||| |Shrine of Our Lady Walsingham|280|280| |St John's CofE Primary School|-|4,400| |St Peter's Church, Aylesbury|-|150| |Beds & Herts Churches Trust|261|350| |Watford & Three Rivers Refugee Project|280|-| |South West Herts Samaritans|655|-| |Other|937|-| ||2,413|5,180| |Grants to individuals|-|1,889| ||2,413|7,069| - - 13 - ## **PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **10 Trustees** In 2019, one Trustee, A G Clough, was reimbursed the cost of Xero accounting software (£412) during the period. In 2019,one Trustee suffered hardship during the period and received support from the Vicar's Discretionary Fund. They were not paid remuneration and received no benefit as a result of being a Trustee. The Vicar (and Trustee) receives only half a stipend for his role at St John's. On his appointment the PCC resolved to make additional contributions to his pension on his behalf, to try and ensure that, on retirement, he is not disadvantaged by his years of service on a half-stipend. ## **11 Employees** The average monthly number of employees during the year was: ||**2020**|**2019**| |---|---|---| ||**Number**|**Number**| |Parish Administrator (part time)|1|1| |**Employment costs**|**2020**|**2019**| ||**£**|**£**| |Wages and salaries|5,469|9,768| |Social security costs|331|249| |Other pension costs|6,493|1,800| ||12,293|11,817| There were no employee benefits to key management personnel in the previous or current years. The balance of payments recorded under Salaries, wages and honoraria were payments made to visiting clergy and to top up the Vicar's pension from a half pension. The part-time Parish Administrator represents less than half of a full time equivalent. There were no employees whose annual remuneration was more than £60,000. ## **12 Net gains/(losses) on investments** ||**Unrestricted **|**Endowment**|**Total**|Unrestricted|Endowment|Total| |---|---|---|---|---|---|---| ||**funds**|**funds**||funds|funds|| ||**2020**|**2020**|**2020**|2019|2019|2019| ||**£**|**£**|**£**|£|£|£| |Gain/(loss) on sale of||||||| |investments|1,856|145|2,001|3,905|305|4,210| - 14 - ## **PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **13 Taxation** The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. ## **14 Tangible fixed assets** |**Freehold land**
**and buildings**
**Furniture,**
**fixtures,**
**fittings and**
**vestments**
**Computer &**
**electrical**
**equipment**
**£**
**£**
**£**
**Cost**
At 1 January 2020
600,000
33,053
4,277
Additions
-
527
499
At 31 December 2020
600,000
33,580
4,776
**Depreciation and impairment**
At 1 January 2020
-
17,748
3,691
Depreciation charged in the year
-
2,990
324
At 31 December 2020
-
20,738
4,015
**Carrying amount**
At 31 December 2020
600,000
12,842
761
At 31 December 2019
600,000
13,557
2,333|**Total**
**£**
637,330
1,026| |---|---| ||638,356| ||21,439
3,314| ||24,753| ||613,603| ||615,890| The PCC are of the opinion that the market value of the freehold land and buildings is not materially different to the figure shown in these accounts. ## **15 Fixed asset investments** ||**Listed**| |---|---| ||**investments**| ||**£**| |**Cost or valuation**|| |At 1 January 2020|2,105| |Valuation changes|145| |At 31 December 2020|2,250| |**Carrying amount**|| |At 31 December 2020|2,250| |At 31 December 2019|2,105| - 15 - ## **PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ |**16**
**Financial instruments**
**Carrying amount of financial assets**
Instruments measured at fair value through profit or loss
**17**
**Debtors**
**Amounts falling due within one year:**
Trade debtors
Other debtors
Prepayments and accrued income
**18**
**Current asset investments**
Unlisted investments
**19**
**Creditors: amounts falling due within one year**
Trade creditors
Other creditors
Accruals and deferred income|**2020**
**£**
28,935
**2020**
**£**
1,603
2,207
1,557
5,367
**2020**
**£**
28,935
**2020**
**£**
7,227
1,028
3,237
11,492|**2019**
**£**
27,079| |---|---|---| |||**2019**
**£**
11,726
25,565
1,557| |||38,848| |||**2019**
**£**
27,079| |||**2019**
**£**
3,952
261
4,765| |||8,978| ## **20 Retirement benefit schemes** ## **Defined contribution schemes** The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. The charge to profit or loss in respect of defined contribution schemes was £6,493 (2019 - £1,800). - 16 - ## **PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **21 Endowment funds** Endowment funds represent assets which must be held permanently by the charity. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund. ||**Balance at**|**Revaluations**|
**Balance at**|**Revaluations**|**Balance at**| |---|---|---|---|---|---| ||**1 January 2019**|**gains and**|
**1 January 2020**|**gains and**|**31 December**| |||**losses**||**losses**|**2020**| ||**£**|**£**|**£**|**£**|**£**| |**Permanent endowments**|||||| |Florence Harriet Forest Bequest|1,800|305|2,105|145|2,250| ||1,800|305|2,105|145|2,250| Florence Harriet Forest Bequest - A bequest; capital is to be maintained and income used for the church. - 17 - ## **PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **22 Restricted funds** The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes: |||**Movement in funds**|**Movement in funds**|||||| |---|---|---|---|---|---|---|---|---| ||**Balance at**|**Incoming**|**Resources**|**Transfers**|**Balance at**|**Resources**|**Transfers**|**Balance at**| ||**1 January 2019**|**resources**|**expended**||**1 January 2020**|**expended**||**31 December**| |||||||||**2020**| ||**£**|**£**|**£**|**£**|**£**|**£**|**£**|**£**| |Building|1,289|-|-|-|1,289|(1,388)|99|-| |Organ|11,738|5,573|(1,230)|-|16,081|-|-|16,081| |Pentecost Gift|2,338|-|-|-|2,338|-|-|2,338| |Vicar's Discretionary Fund|918|-|(1,774)|856|-|-|-|-| |All Churches Trust|1,500|-|-|-|1,500|-|(1,500)|-| |Walsingham 2019|(250)|3,620|(3,841)|471|-|-|-|-| |Godley Play (School)|684|-|-|-|684|-|-|684| |RSN re Certificate/Diploma|553|-|-|-|553|-|(553)|-| |Charity Parish Lunch for Refugees|541|-|-|-|541|-|(541)|-| |Fr David 10th Anniversary|-|350|(350)|-|-|-|-|-| |Samaritans|-|605|-|-|605|(655)|50|-| |Miscellaneous Funds|949|-|-|-|949|(151)|(250)|548| ||20,260|10,148|(7,195)|1,327|24,540|(2,194)|(2,695)|19,651| ## **Building** Monies donated for maintenance of the church building. ## **Organ** Monies donated for maintenance and repair of the Organ. - 18 - ## **PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **22 Restricted funds** **(Continued)** ## **Pentecost Gift** Monies given at Pentecost for specific items or purposes. ## **Vicar's Discretionary Fund** Monies given or made available to the Vicar for use at his discretion. By resolution of the PCC, the Vicar's Discretionary Fund is funded by monthly transfers from unrestricted funds. ## **All Churches Trust** This was a donation from All Churches Trust to support repairs and maintenance of the Church. It was used towards new flooring. ## **Walsingham 2019** Deposits and costs for the Parish Pilgrimage to Walsingham. ## **Godley Play School** Funds raised to be spent on Godley Play in School. ## **RSN re Certificate/Diploma** Funds for Royal School of Needlework to repair our banners. ## **Charity Parish Lunch for Refugees** Funds raised from a Parish lunch to raise money for refugees. ## **Samaritans** Funds raised from a Christmas Carol service in aid of the Samaritans. ## **Miscellaneous Funds** These are smaller funds with balances or movements of less than £500 during the period. - 19 - ## **PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **23 Designated funds** The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes: |**Balance at**
**1 January 2019**
**r**
**£**
Ford Brothers Legacy
115,000
Floor Restoration
-
Church Boiler Replacement
-
Hall Boiler Replacement
-
Hall Windows
-
Sound System
-
Choir Fund
9,010
Vicar's Discretionary Fund
-
Hall and House Valuation
600,000
724,010|**Movement in funds**
**Incoming**
**esources**
**Resources**
**expended**
**£**
**£**
10,192
-
-
(22,420)
-
-
-
-
-
-
-
-
-
(420)
-
-
-
-
10,192
(22,840)|**Transfers**
**Balance at**
**1 January 2020**
**Resources**
**expended**
**£**
**£**
**£**
(84,500)
40,692
-
35,000
12,580
-
20,000
20,000
(19,837)
12,000
12,000
(11,648)
10,000
10,000
-
7,500
7,500
(12,258)
-
8,590
-
944
944
(1,564)
-
600,000
-
944
712,306
(45,307)|**Transfers**
**Balance at**
**31 December**
**2020**
**£**
**£**
-
40,692
(12,580)
-
(163)
-
(352)
-
(10,000)
-
4,758
-
-
8,590
2,600
1,980
-
600,000
(15,737)
651,262|**Transfers**
**Balance at**
**31 December**
**2020**
**£**
**£**
-
40,692
(12,580)
-
(163)
-
(352)
-
(10,000)
-
4,758
-
-
8,590
2,600
1,980
-
600,000
(15,737)
651,262| |---|---|---|---|---| |||||651,262| ## **Ford Brothers Legacy** Funds for refurbishment of the Church House at 38 Estcourt Road. ## **Floor Restoration** Funds to restore the Church floor. **Church Boiler Replacement** Funds to replace the Church Boiler. - 20 - ## **PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **23 Designated funds** ## **(Continued)** ## **Hall Boiler Replacement** Funds to replace the Hall Boiler. ## **Hall Windows** Funds to replace the Hall windows. During 2020 it was decided not to go ahead with this and undesignate the funds. ## **Sound System** Funds to purchase a new Sound System for the Church. ## **Choir Fund** Funds to support music and a Choir at St Johns. ## **Vicar's Discretionary Fund** Funds to be used to support charitable giving and meeting pastoral needs. ## **Hall and House Valuation** This fund is the amount of reserves represented by the Hall and House. ## **24 Analysis of net assets between funds** |**Unrestricted**
**funds**
**Restricted**
**funds**
**Endowment**
**funds**
**2020**
**2020**
**2020**
**£**
**£**
**£**
Fund balances at 31 December 2020 are
represented by:
Tangible assets
613,603
-
-
Investments
-
-
2,250
Current assets/(liabilities)
149,118
19,651
-
762,721
19,651
2,250|**Total Unrestricted**
**funds**
**Restricted**
**funds**
**Endowment**
**funds**
**2020**
**2019**
**2019**
**2019**
**£**
**£**
**£**
**£**
613,603
615,890
-
-
2,250
-
-
2,105
168,769
194,951
25,484
-
784,622
810,841
25,484
2,105|**Total**
**2019**
**£**
615,890
2,105
220,435| |---|---|---| |||838,430| - 21 - ## **PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **25 Related party transactions** The Vicar (who is also a Trustee) receives only half a stipend for his role at St. John's. On his appointment, the PCC resolved to make additional contributions to his pension on his behalf, to try to ensure that on retirement he is not disadvantaged by his years of service on a half-stipend. - 22 - ## St Johns PCC 2020 Final Accounts Final Audit Report 2023-04-19 Created: 2023-04-19 By: Gary Howard (gary@howardwilson.co.uk) Status: Signed Transaction ID: CBJCHBCAABAAQgpnJqJKosKMAa8tbQaxurzZ_-_S38I9 ## "St Johns PCC 2020 Final Accounts" History Document created by Gary Howard (gary@howardwilson.co.uk) 2023-04-19 - 11:33:15 AM GMT Document emailed to churchwarden1@stjohnschurchwatford.com for signature 2023-04-19 - 11:35:30 AM GMT Email viewed by churchwarden1@stjohnschurchwatford.com 2023-04-19 - 11:46:43 AM GMT - Signer churchwarden1@stjohnschurchwatford.com entered name at signing as Jennifer Nickson 2023-04-19 - 11:47:04 AM GMT - Document e-signed by Jennifer Nickson (churchwarden1@stjohnschurchwatford.com) Signature Date: 2023-04-19 - 11:47:06 AM GMT - Time Source: server Document emailed to priest@stjohnschurchwatford.com for signature 2023-04-19 - 11:47:07 AM GMT - Email viewed by priest@stjohnschurchwatford.com 2023-04-19 - 11:57:40 AM GMT Signer priest@stjohnschurchwatford.com entered name at signing as David Stevenson 2023-04-19 - 11:58:15 AM GMT Document e-signed by David Stevenson (priest@stjohnschurchwatford.com) Signature Date: 2023-04-19 - 11:58:17 AM GMT - Time Source: server Document emailed to Campbell Wilson (campbell@howardwilson.co.uk) for signature 2023-04-19 - 11:58:19 AM GMT Email viewed by Campbell Wilson (campbell@howardwilson.co.uk) 2023-04-19 - 12:03:07 PM GMT Document e-signed by Campbell Wilson (campbell@howardwilson.co.uk) Signature Date: 2023-04-19 - 3:07:24 PM GMT - Time Source: server Agreement completed. 2023-04-19 - 3:07:24 PM GMT Names and email addresses are entered into the Acrobat Sign service by Acrobat Sign users and are unverified unless otherwise noted.