## **GUILD CHURCH OF ST KATHARINE CREE** ## **FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 DECEMBER 2020** **REPORT OF THE INDEPENDENT EXAMINER TO THE TRUSTEES OF** ## **THE GUILD CHURCH COUNCIL OF ST OF ST KATHARINE CREE** I report on the accounts of the charity for the year ended 31 December 2020, which are set out on pages 1 to 6. ## **RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER** The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. It is my responsibility to: - examine the accounts under section 145 of the Charities Act - follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the Charities Act; and - state whether particular matters have come to my attention ## **Basis of independent examiner's report** My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence required in an audit, and consequently no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those matters set out in the statement below. ## **Independent examiner's statement** In connection with my examination, no matter has come to my attention:- which gives me reasonable cause to believe that in any material respect, the requirements - to keep accounting records in accordance with section 130 of the Charities Act; and - to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act. have not been met; or to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. John Duncan FCA Date: for and on behalf of Gilbert Allen & Co Chartered Accountants Churchdown Chambers Bordyke Tonbridge Kent TN9 1NR 1 ## **GUILD CHURCH OF ST KATHARINE CREE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020** |Incoming Resources
Voluntary Income
Activities for generating funds
Income from Investments
Resources Used
Church activities
Support Costs
Sundry Expenses
Transfer between funds
Net Incoming Resources
Unrestricted
Net Movement
Fund Balances B/fwd
Fund Balances C/fwd
Gains/Losses on Investments|**Unrestricted Restricted**
**Total**
**Total**
**Funds**
**Funds**
**2020**
**2019**
20,294.11
21,435.58
41,729.69
33,626.06
7,202.00
0.00
7,202.00
80,117.64
14,202.57
14,202.57
15,456.05| |---|---| ||41,698.68
21,435.58
63,134.26 129,199.75| ||105,440.94
11,966.20 117,407.14
70,263.55
12,749.92
12,749.92
9,239.18
0.00
0.00
0.00
523.12| ||118,190.86
11,966.20 130,157.06
80,025.85| ||0.00
-76,492.18
9,469.38
-67,022.80
49,173.90| ||-17,511.17
-17,511.17
29,857.02| ||-94,003.35
9,469.38
-84,533.97
79,030.92| ||323,000.05
14,250.33 337,250.38 258,219.46| ||| ||228,996.70
23,719.71 252,716.41 337,250.38| 2 **2020** **2019** ## **GUILD CHURCH OF ST KATHARINE CREE BALANCE SHEET** ## **AS AT 31 DECEMBER 2020** ## FIXED ASSETS |Chairs.Piano and boiler
Investments
Debtors
Cash at Bank and in Hand
Amounts falling due within one year
Unrestricted
Restricted
FUNDS
CURRENT ASSETS
CREDITORS
NET ASSETS|37,482.35
45,915.17| |---|---| ||37,482.35
45,915.17
107,101.64
129,583.64
86,547.68
98,954.07
36,625.54
69,509.66| ||230,274.86
298,047.37| ||15,040.80
6,712.16| ||| ||252,716.41
337,250.38| ||228,996.70
323,000.05
23,719.71
14,250.33| ||252,716.41
337,250.38| Approved by the Guild Church Council on Churchwarden Churchwarden 3 **GUILD CHURCH OF ST KATHARINE CREE ACCOUNTING POLICIES** ## **1. Accounting Policies** The financial statements have been prepared in accordance with the Church Accounting Regulartions 2006, together with applicable accounting standards and the Charities Statement of Recommended Practice issued in March 2005. The financial statements have been prepared under the historic cost convention except for the valuation of investment assets, which are shown at market value. The financial statements include all transactions assets and liabilities for which the GCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body, nor those that are informal gatherings of church members. ## **Funds** Restricted Funds represent (a) income from trusts or endowments which may be expended only on those restricted objects provided in the terms of the trust or bequest, and (b) donations or grants received for a specific object or invited by the GCC for a specific object. The funds may only be expended on athe specific object for which they were given. Any balance remaining unspent at the end of each year must be carried forward as a balance of that fund. The GCC does not necessarily invest separately for each fund. Where there is no sparate investment, interest is apportioned to individual funds on an average balance basis. Unrestricted Funds are general funds which can be used for GCC Ordinary purposes. ## **Incoming resources** Planned giving, collections and donations are recognised when received. Tax refunds are recognised when the incoming resource to which they relate is received. Grants and legacies are accounted for when the GCC is legally entitled to the amounts due. Dividends are accounted for when receivable, interest is accrued. All other income is recognised when it is receivable. All incoming resources are accounted for gross. ## **Resources Expended** Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding or constructive obligation on the GCC. The diocesan parish share is accounted for when due. Amounts received specifically for mission are dealt with as restricted funds. All other expenditure is generally recognised when it is incurred and is accounted for gross. ## **Fixed Assets** Consecrated and benefice property is not included in the accounts in accordance with the Charities Act 2011 Equipment used within the church is depreciated on a straight line basis over four years. Individual items of equipment with a purchase price of £500 or less are written off when the asset is acquired . Investments are valued at market value at 31 December 2020. 4 ## **GUILD CHURCH OF ST KATHARINE CREE NOTES TO THE ACCOUNTS** ## **2 Incoming Resources detail** |**2a Voluntary Income**
Tax Efficient Giving
Special Services
Gift Aid Collected
Throckmorton Shield
Homeless Project
Sundry Donations
Ordinary Grants
Trusts for London
City Burial Fund
St Olaves's Church
LDF Sequestration
Misc Income
**2b Activities for generating funds**
Church Fees
Mar Thoma Church
Loss of Light Claim
Hall Rentals
**2c Income from Investments**
Investment M&G
Investment LDF
Bank deposit a/c
**Total Incoming Resources**|**Unrestricted Restricted**
**Total**
**Total**
**Funds**
**Funds**
**2020**
**2019**
3,944.71
3,944.71
6,719.54
0.00
0.00
2,867.39
3,129.90
3,129.90
3,318.64
11,085.58
11,085.58
0.00 10,350.00
10,350.00
6,250.00
750.00
750.00
884.49| |---|---| ||7,824.61 21,435.58
29,260.19
20,040.06| ||6,289.50
6,289.50
894.00
2,750.00
2,750.00
2,750.00
3,430.00
3,430.00
7,000.00
2,258.25| ||12,469.50
0.00
12,469.50
12,902.25
0.00
0.00
683.75| ||20,294.11 21,435.58
41,729.69
33,626.06| ||0.00
0.00
0.00
4,500.00
4,500.00
18,000.00
0.00
0.00
45,000.00
2,702.00
2,702.00
17,117.64| ||7,202.00
0.00
7,202.00
80,117.64| ||5,228.01
5,228.01
6,476.51
8,922.78
8,922.78
8,896.51
51.78
51.78
83.03| ||14,202.57
0.00
14,202.57
15,456.05| ||| ||41,698.68 21,435.58
63,134.26 129,199.75| 5 **GUILD CHURCH OF ST KATHARINE CREE NOTES TO THE ACCOUNTS** ## **3 Resources Used Detail** |**Church Activities**
3a
Ministry DCF
Clergy Expenses
Sacristy
Upkeep
Running Expenses
Cleaning
Depreciation
Church Music
Material Development Work
**3b**
**Donations**
**3c**
**Support Costs**
Printing & Stationery
Administration Costs
Bank Charges
**3d**
**Sundry Expenses**
Grants & Donations
Catering
4
**Tangible fixed Assets**
Cost
At 1 January 2020
Additions at Cost
At 31 December 2020
Depreciation
At 1 January 2020
Charge for the Year
At 31 January 2020
Net Book Value
At 30 December 2020
Net Book Value
At 31 December 2019
**Total Outgoing resources**|**Unrestricted Restricted**
**Total**
**Total**
**Funds**
**Funds**
**2020**
**2019**
30,000.00
30,000.00
30,000.00
566.25
566.25
1,887.50
0.00
0.00
506.61
47,111.64
11,966.20
59,077.84
6,890.51
9,403.92
9,403.92
11,865.37
9,336.24
9,336.24
5,128.93
8,432.82
8,432.82
10,511.79
590.07
590.07
3,472.84
0.00
0.00
0.00|**Unrestricted Restricted**
**Total**
**Total**
**Funds**
**Funds**
**2020**
**2019**
30,000.00
30,000.00
30,000.00
566.25
566.25
1,887.50
0.00
0.00
506.61
47,111.64
11,966.20
59,077.84
6,890.51
9,403.92
9,403.92
11,865.37
9,336.24
9,336.24
5,128.93
8,432.82
8,432.82
10,511.79
590.07
590.07
3,472.84
0.00
0.00
0.00| |---|---|---| ||105,440.94|11,966.20 117,407.14
70,263.55| ||0.00|0.00
0.00| ||0.00
12,571.32
178.60|0.00
0.00
12,571.32
8,941.51
178.60
297.67| ||12,749.92|0.00
12,749.92
9,239.18| ||0.00
0.00|0.00
0.00
0.00
523.12| ||0.00|0.00
0.00
523.12| ||118,190.86|11,966.20 130,157.06
80,025.85| |||**2020**
**2019**
**£**
**£**
78,580.92
31,727.97
0.00
46,852.95| |||78,580.92
78,580.92| |||32,665.75
22,153.96
8,432.82
10,511.79| |||41,098.57
32,665.75| |||37,482.35
45,915.17| 6 ## **GUILD CHURCH OF ST KATHARINE CREE NOTES TO THE ACCOUNTS** |**5 Investments**
M&G Charifund (7,083 units)
**6**
**Debtors**
Central Board of Finance Deposit Fund
CCLA Shares Fund (London Diocesan Fund)
Diocese additional Cleaning
Homeless Project
7 **Creditors: Amounts falling due**
**within one year**
Running Expenses
Administration Costs
Hygiene Products
Music
Bank Charges
Church Upkeep
Creditors for goods and services
**8**
**Restricted Fund**
Fund
B/F
Income
£
£
Bells & Organ Fund
5,470.13
0.00
Restoration Fund
7,164.00
0.00
Throckmorton Shield fund
11,085.58
Homeless Project fund
1,616.20 10,350.00
14,250.33 21,435.58|**5 Investments**
M&G Charifund (7,083 units)
**6**
**Debtors**
Central Board of Finance Deposit Fund
CCLA Shares Fund (London Diocesan Fund)
Diocese additional Cleaning
Homeless Project
7 **Creditors: Amounts falling due**
**within one year**
Running Expenses
Administration Costs
Hygiene Products
Music
Bank Charges
Church Upkeep
Creditors for goods and services
**8**
**Restricted Fund**
Fund
B/F
Income
£
£
Bells & Organ Fund
5,470.13
0.00
Restoration Fund
7,164.00
0.00
Throckmorton Shield fund
11,085.58
Homeless Project fund
1,616.20 10,350.00
14,250.33 21,435.58|**2020**
**2019**
**£**
**£**
107,101.64
129,583.64| |---|---|---| |||107,101.64
129,583.64| |||**2020**
**2019**
**£**
**£**
9,291.71
23,368.93
77,255.97
72,285.14
0.00
0.00
3,300.00| |||86,547.68
98,954.07| |||**2020**
**2019**
**£**
**£**
1,055.71
2,202.74
2,000.00
2,000.00
5,242.05
150.00
12.89
42.72
6,730.16
2,316.71| |||15,040.81
6,712.17| |||Expenses
C/F
£
£
0.00
5,470.13
0.00
7,164.00
11,085.58
(11,966.20)
0.00| ||14,250.33 21,435.58|(11,966.20)
23,719.71| 7