**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 2021**
## **PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|David Beesley|(appointed 14 May 2023)|
|---|---|---|
||Jill Bennett||
||Thomas Cockburn|(appointed 14 May 2023)|
||Robin Davis||
||Sophia Dunnicliffe||
||Alex Evans|(appointed 22 May 2022)|
||Alexander Handley|(resigned 14 May 2023)|
||Brian Handley|(appointed 15 June 2023)|
||Susan Jermyn|(resigned 14 May 2023)|
||Helen Langeveld|(resigned 14 May 2023)|
||Jannice Mordue||
||John Graham Mordue|(appointed 14 May 2023)|
||Jennifer Nickson||
||Liz Sheasby||
||Richard Southern|(appointed 14 May 2023)|
||Rev David Stevenson|(resigned 25 June 2023)|
||Robert Wildmore||
||Ruth Williams|(resigned 4 August 2023)|
||Michael Willis|(resigned 14 May 2023)|
|**Charity number**|1166071||
|**Principal address**|Sutton Road||
||Watford||
||Hertfordshire||
||WD17 2QQ||
|**Independent examiner**|Gary Howard FCA||
||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 - 21|
## **PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD**
## **TRUSTEES' REPORT**
## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
The Parochial Church Council members present their annual report and financial statements for the year ended 31 December 2021.
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. 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.
The year 2021 presented numerous challenges for the parish community of St John's Watford, as it did for many other communities around the world. The COVID-19 pandemic forced the parish community to adapt to new ways of worshiping, communicating, and staying connected, and the members rose to the occasion with creativity, resilience and unwavering faith.
One of the most significant changes that the parish community experienced was the transition to online broadcasting of services. Fr David made Holy Communion on behalf of everyone during the Eucharist at home, and those who were watching the broadcast were able to make their spiritual communion from their homes. This was a creative way to ensure that the spiritual needs of the community were met, even in the absence of in-person gatherings.
Another highlight of the year was the "coffee and tea" gatherings after the Sunday Eucharist on Zoom. This allowed the members of the parish community to come together virtually, catch up with each other, and share stories and experiences. This was a fantastic way to stay connected and maintain a sense of community during a time of physical distancing and isolation.
- 1 -
## **PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
Zoom proved to be a valuable tool for the PCC and Standing Committee to keep the business of the parish running smoothly. Meetings, Bible study, coffee mornings, story time with children, and collective worship with school children were all made possible through Zoom. The technology enabled the parish community to continue with many of its activities and ensure that important decisions were made and carried out despite the challenges posed by the pandemic.
The parish community of St John's Watford also utilized a telephone tree to keep in contact with everyone, especially the elderly. This ensured that everyone in the community felt connected and supported during the challenging times.
Despite the difficulties presented by the pandemic, the parish community of St John's Watford remained united and resilient, and its members came together to support each other through the uncertainty and disruption caused by the pandemic. The adaptability and commitment shown by the parish community are a testament to the strength of faith and community, and these qualities will undoubtedly continue to inspire and sustain the community in the years ahead.
It is worth noting that while the parish community of St John's Watford managed to adapt to the pandemic, some important events were still impacted. All the baptisms and weddings that had been booked for the year had to be postponed until government restrictions on gatherings were lifted. Similarly, all funerals had to be conducted at the crematorium or at the graveside with no more than ten people present. This meant that many people were unable to attend the funerals of their loved ones, which was understandably difficult for those who were grieving. However, the parish community continued to provide support and comfort to those who were bereaved, offering words of consolation and prayers of hope during these challenging times.
Despite these challenges, the parish community of St John's Watford remained faithful in their giving and suffered no loss of the congregation to COVID-19. The church building and assets were all cared for and suffered no ill effects from not being used. This was undoubtedly due in part to the dedication and hard work of the church wardens, Jenny and Colin, who held the parish family together during these difficult times.
Zoom was also useful for attending Diocesan and Deanery synods, meetings, courses, education, and training. This ensured that the members of the parish community had access to the wider church community and were able to stay connected with other parishes and organizations.
Overall, the year 2021 was a challenging but inspiring time for the parish community of St John's Watford. The members of the community demonstrated remarkable resilience and creativity in the face of the pandemic, and their unwavering faith and commitment to community enabled them to stay connected and support each other through the uncertainty and disruption caused by the pandemic.
## **Financial review**
The results for the year reflect the continued limitations imposed by the Covid pandemic. The income for the year was £76,420, down by £14,974 on the previous year (2020: £91,394). Expenditure was up by £1,392 at £148,595 (2020: £147,203). This resulted in a deficit for the year of £67,775 compared to a deficit of £53,808 in 2020.
The reserves carried forward at the year end were £716,847, of which £19,651 related to restricted funds and £2,568 related to endowment funds. The unrestricted funds includes an amount of £611,015 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.
- 2 -
## **PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD**
## **TRUSTEES' REPORT (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
## **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 (resigned 25 June 2023 ) David Beesley (appointed 14 May 2023) Jill Bennett Thomas Cockburn (appointed 14 May 2023) Robin Davis Sophia Dunnicliffe Alex Evans (appointed 22 May 2022) Alexander Handley (resigned 14 May 2023) Brian Handley (appointed 15 June 2023) Susan Jermyn (resigned 14 May 2023) Helen Langeveld (resigned 14 May 2023) Jannice Mordue John Graham Mordue (appointed 14 May 2023) Jennifer Nickson Liz Sheasby Richard Southern (appointed 14 May 2023) Robert Wildmore Ruth Williams (appointed 22 May 2022, resigned 4 August 2023) Michael Willis (resigned 14 May 2023)
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.
## Jennifer Nickson Chillingworth
## **Jennifer Nickson Churchwarden**
17 October 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 2021.
## **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.
## **Gary Howard FCA**
Howard Wilson Chartered Accountants 36 Crown Rise Watford Hertfordshire WD25 0NE
Dated: 25 October 2023
- 4 -
## **PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
|**Current financial year**
**Unrestricted**
**Restricted Endowment**
**funds**
**funds**
**funds**
**2021**
**2021**
**2021**
**Notes**
**£**
**£**
**£**
**Income and endowments from:**
Giving
**3**
25,716
-
-
Charitable activities
**4**
3,177
-
-
Income from investments
**5**
46,877
-
-
Other income
**6**
650
-
-
**Total income**
76,420
-
-
**Expenditure on:**
Raising funds
**7**
18,437
-
-
Charitable activities
**8**
130,158
-
-
**Total expenditure**
148,595
-
-
Net gains/(losses) on investments
**12**
4,082
-
318
**Net movement in funds**
(68,093)
-
318
Fund balances at 1 January 2021
762,721
19,651
2,250
**Fund balances at 31 December 2021**
694,628
19,651
2,568|**Total**
**2021**
**£**
25,716
3,177
46,877
650
76,420
18,437
130,158
148,595
4,400
(67,775)
784,622
716,847|**Total**
**2020**
**£**
53,176
4,464
33,754
-
91,394
40,142
107,061
147,203
2,001
(53,808)
838,430
784,622|
|---|---|---|
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 2021**_
|**Prior 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
-
-
**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 movement in funds**
(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|
|---|---|
- 6 -
## **PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD**
## **BALANCE SHEET**
## _**AS AT 31 DECEMBER 2021**_
|**Notes**
**Fixed assets**
Tangible assets
**14**
Investments
**15**
**Current assets**
Debtors
**17**
Investments
**18**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**19**
Net current assets
**Total assets less current liabilities**
**Capital funds**
Endowment funds
**21**
**Income funds**
Restricted funds
**22**
Unrestricted funds
Designated funds
**23**
General unrestricted funds|**2021**
**£**
2,372
33,016
76,224
111,612
(8,348)
609,556
85,072|**£**
611,015
2,568
613,583
103,264
716,847
2,568
19,651
694,628
716,847|**2020**
**£**
5,367
28,935
145,959
180,261
(11,492)
651,262
111,459|**£**
613,603
2,250|
|---|---|---|---|---|
|||||615,853
168,769|
|||||784,622|
|||||2,250
19,651
762,721|
|||||784,622|
The financial statements were approved by the Trustees on 17 October 2023
## Jennifer Nickson Chillingworth
**Richard Southern Jennifer Nickson PCC Lay Chair PCC Churchwarden**
- 7 -
**PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD**
## **NOTES TO THE FINANCIAL STATEMENTS**
## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
## **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 2021**_
## **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 2021**_
## **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|
|---|---|---|
||**funds**|funds|
||**2021**|2020|
||**£**|£|
|Planned giving|25,716|28,176|
|Legacies receivable|-|25,000|
||25,716|53,176|
- 10 -
## **PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
|**3**
**Giving**
**Planned giving:**
Tax efficient planned giving
Collections at services
Collections at small groups
Other planned giving
All other giving and voluntary receipts
Other|**(Continued)**
20,904
19,167
3,059
6,018
640
413
111
-
971
2,578
31
-
25,716
28,176|**(Continued)**
20,904
19,167
3,059
6,018
640
413
111
-
971
2,578
31
-
25,716
28,176|
|---|---|---|
|||28,176|
## **4 Charitable activities**
||**Charitable**|**Charitable**|
|---|---|---|
||**activities**|**activities**|
||**2021**|**2020**|
||**£**|**£**|
|Community and social events|30|2,998|
|Magazines and candles|-|239|
|Statutory fees|464|1,227|
|Pilgrimage income|2,683|-|
||3,177|4,464|
## **5 Income from investments**
||**Unrestricted**|Unrestricted|
|---|---|---|
||**funds**|funds|
||**2021**|2020|
||**£**|£|
|Rental income|45,929|32,192|
|Interest receivable and dividends|948|1,562|
||46,877|33,754|
**6 Other income**
||**Unrestricted**|**Total**|
|---|---|---|
||**funds**||
||**2021**|**2020**|
||**£**|**£**|
|Other income|650|-|
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## **PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
## **6 Other income**
## **(Continued)**
- **7 Raising funds**
|**Unrestricted**
Unrestricted
Restricted
**funds**
funds
funds
**2021**
2020
2020
**£**
£
£
Raising funds
Direct costs of charitable & ancilliary trading
211
618
-
Rent collection, property repairs & maintenance
charges
18,226
39,411
113
Raising funds
18,437
40,029
113|Total
2020
£
618
39,524|
|---|---|
||40,142|
## **8 Charitable activities**
||**Church**|**Church**|
|---|---|---|
||**Activities**|**Activities**|
||**2021**|**2020**|
||**£**|**£**|
|Staff costs|7,241|12,293|
|Depreciation and impairment|2,587|3,314|
|Clergy and staff training|765|1,779|
|Diocesan Parish Share|32,010|29,058|
|Major repairs and renewals|51,636|28,609|
|Mission and evangelism|58|1,817|
|Running costs|22,020|17,694|
|Utilities|7,217|9,064|
|Pilgrimage costs|3,890|-|
|Governance costs|1,020|1,020|
|Charitable donations|1,714|2,413|
||130,158|107,061|
|**Analysis by fund**|||
|Unrestricted funds|130,158|104,980|
|Restricted funds|-|2,081|
Governance costs comprise payments to the independent examiner.
- 12 -
## **PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
## **9 Charitable donations**
||**Church**|Church|
|---|---|---|
||**Activities**|Activities|
||**2021**|2020|
||**£**|£|
|Charitable payments|||
|Shrine of Our Lady Walsingham|-|280|
|Beds & Herts Churches Trust|-|261|
|Watford & Three Rivers Refugee Project|-|280|
|South West Herts Samaritans|-|655|
|Vicar's Discretionary Grants|1,714|937|
||1,714|2,413|
## **10 Trustees**
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:
||**2021**|**2020**|
|---|---|---|
||**Number**|**Number**|
|Parish Administrator (part time)|1|1|
|**Employment costs**|**2021**|**2020**|
||**£**|**£**|
|Wages and salaries|5,735|5,469|
|Social security costs|83|331|
|Other pension costs|1,423|6,493|
||7,241|12,293|
Salaries include payments 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.
- 13 -
## **PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
## **12 Net gains/(losses) on investments**
||**Unrestricted **|**Endowment**|**Total**|Unrestricted|Endowment|Total|
|---|---|---|---|---|---|---|
||**funds**|**funds**||funds|funds||
||**2021**|**2021**|**2021**|2020|2020|2020|
||**£**|**£**|**£**|£|£|£|
|Gain/(loss) on sale of|||||||
|investments|4,082|318|4,400|1,856|145|2,001|
## **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 Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
## **14 Tangible fixed assets**
|**Tangible fixed assets**||
|---|---|
|**Furniture**
**Freehold**
**fixtures Computer &**
**land and fittings and**
**electrical**
**buildings**
**vestments**
**equipment**
**£**
**£**
**£**
**Cost**
At 1 January 2021
600,000
33,579
4,776
At 31 December 2021
600,000
33,579
4,776
**Depreciation and impairment**
At 1 January 2021
-
20,737
4,016
Depreciation charged in the year
-
2,207
380
At 31 December 2021
-
22,944
4,396
**Carrying amount**
At 31 December 2021
600,000
10,635
380
At 31 December 2020
600,000
12,842
761|**Total**
**£**
638,355|
||638,355|
||24,753
2,587|
||27,340|
||611,015|
||613,603|
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**
- 14 -
## **PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
|**15**|**Fixed asset investments**|**(Continued)**|
|---|---|---|
|||**Listed**|
|||**investments**|
|||**£**|
||**Cost or valuation**||
||At 1 January 2021 & 31 December 2021|2,250|
||**Carrying amount**||
||At 31 December 2021|2,250|
||At 31 December 2020|2,250|
## **16 Financial instruments**
|**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|**2021**
**£**
33,016
**2021**
**£**
801
14
1,557
2,372
**2021**
**£**
33,016|**2020**
**£**
28,935|
|||**2020**
**£**
1,603
2,207
1,557|
|||5,367|
|||**2020**
**£**
28,935|
- 15 -
## **PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
## **19 Creditors: amounts falling due within one year**
|**Creditors: amounts falling due within one year**|||
|---|---|---|
|Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income|**2021**
**£**
49
868
1,089
6,342
8,348|**2020**
**£**
-
7,227
1,028
3,237|
|||11,492|
## **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 £1,423 (2020 - £6,493).
## **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 2020**|**gains and**|
**1 January 2021**|**gains and**|**31 December**|
|||**losses**||**losses**|**2021**|
||**£**|**£**|**£**|**£**|**£**|
|**Permanent endowments**||||||
|Florence Harriet Forest Bequest|2,105|145|2,250|318|2,568|
||2,105|145|2,250|318|2,568|
Florence Harriet Forest Bequest - A bequest; capital is to be maintained and income used for the church.
- 16 -
## **PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
## **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**||
||**Balance at**|**Resources**|**Transfers**||**Balance at**|**Incoming**|**Balance at**|
||**1 January 2020**|**expended**||**1**|**January 2021**|**resources**|**31 December**|
||||||||**2021**|
||**£**|**£**|**£**||**£**|**£**|**£**|
|Building|1,289|(1,388)|99||-|-|-|
|Organ|16,081|-|-||16,081|-|16,081|
|Pentecost Gift|2,338|-|-||2,338|-|2,338|
|All Churches Trust|1,500|-|(1,500)||-|-|-|
|Godley Play (School)|684|-|-||684|-|684|
|RSN re Certificate/Diploma|553|-|(553)||-|-|-|
|Charity Parish Lunch for Refugees|541|-|(541)||-|-|-|
|Samaritans|605|(655)|50||-|-|-|
|Miscellaneous Funds|949|(151)|(250)||548|-|548|
||24,540|(2,194)|(2,695)||19,651|-|19,651|
## **Building**
Monies donated for maintenance of the church building.
## **Organ**
Monies donated for maintenance and repair of the Organ.
- 17 -
## **PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
## **22 Restricted funds**
## **(Continued)**
## **Pentecost Gift**
Monies given at Pentecost for specific items or purposes.
## **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.
## **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.
- 18 -
## **PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
## **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 2020**
**Resources**
**expended**
**£**
**£**
Ford Brothers Legacy
40,692
-
Floor Restoration
12,580
-
Church Boiler Replacement
20,000
(19,837)
Hall Boiler Replacement
12,000
(11,648)
Hall Windows
10,000
-
Sound System
7,500
(12,258)
Choir Fund
8,590
-
Vicar's Discretionary Fund
944
(1,564)
Hall and House Valuation
600,000
-
712,306
(45,307)|**Movement in funds**
**Transfers**
**Balance at**
**1 January 2021**
**Incoming**
**resources**
**Resources**
**expended**
**Balance at**
**31 December**
**2021**
**£**
**£**
**£**
**£**
**£**
-
40,692
-
(40,692)
-
(12,580)
-
-
-
-
(163)
-
-
-
-
(352)
-
-
-
-
(10,000)
-
-
-
-
4,758
-
-
-
-
-
8,590
-
-
8,590
2,600
1,980
700
(1,714)
966
-
600,000
-
-
600,000
(15,737)
651,262
700
(42,406)
609,556|**Movement in funds**
**Transfers**
**Balance at**
**1 January 2021**
**Incoming**
**resources**
**Resources**
**expended**
**Balance at**
**31 December**
**2021**
**£**
**£**
**£**
**£**
**£**
-
40,692
-
(40,692)
-
(12,580)
-
-
-
-
(163)
-
-
-
-
(352)
-
-
-
-
(10,000)
-
-
-
-
4,758
-
-
-
-
-
8,590
-
-
8,590
2,600
1,980
700
(1,714)
966
-
600,000
-
-
600,000
(15,737)
651,262
700
(42,406)
609,556|
|---|---|---|
|||609,556|
## **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.
- 19 -
## **PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
## **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**
**2021**
**2021**
**2021**
**£**
**£**
**£**
Fund balances at 31 December 2021 are
represented by:
Tangible assets
611,015
-
-
Investments
-
-
2,568
Current assets/(liabilities)
83,613
19,651
-
694,628
19,651
2,568|**Total Unrestricted**
**funds**
**Restricted**
**funds**
**Endowment**
**funds**
**2021**
**2020**
**2020**
**2020**
**£**
**£**
**£**
**£**
611,015
613,603
-
-
2,568
-
-
2,250
103,264
149,118
19,651
-
716,847
762,721
19,651
2,250|**Total**
**2020**
**£**
613,603
2,250
168,769|
|---|---|---|
|||784,622|
- 20 -
## **PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
## **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.
- 21 -