PARISH OF ST STEPHEN AND ST MARK LEWISHAM
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
INDEPENDENT EXAMINER’S REPORT TO THE PCC OF ST STEPHEN AND ST MARK, LEWISHAM FOR THE YEAR ENDED 31 DECEMBER 2020
This report on the financial statements of the PCC for the year ended 31 December 2020, which are set out on pages 2 to 5, is in respect of an examination carried out in accordance with the Church Accounting Regulations 2006 (“the Regulations”) and the Charities Act 2011 (“the Act”).
Respective Responsibilities of Trustees and Examiners
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(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the 2011 Act
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to follow the procedures laid down in the general Directions given by the commission under section 145(5)(b) of the 2011 Act
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to state whether particular matters have come to my attention
Basis of this Report
My examination was carried out in accordance with the General Directions given by the Charity Commission under section 43(7)(b) of the Act and to be found in the Church Guidance, 2006 edition, issued by the Finance Division of the Archbishops’ Council. That examination includes a review of the accounting records kept by the PCC and a comparison of the accounts with those records. It also includes considering any unusual items or disclosures in the account and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
Independent Examiner’s Statement
In connection with my examination, no matter has come to my attention:-
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which gives me reasonable cause to believe that in any material respect, the requirements:-
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to keep accounting records in accordance with section 130 of the 2011 Act; and
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to prepare financial statements, which accord with the accounting records and comply with the requirements of the 2011 Act and the Regulations have not been met.
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to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Mr Milton Sawyerr FCCA 54 Hansol Road Bexleyheath Kent DA6 8JG
30[th] March 2021
Page 1
Parish of St Stephen's & St Mark's PCC Lewisham
Statement of Financial Activities for the year ended 31st December 2020
| Notes Incoming Resources Donations 2 Fund-raising Activities Interest Hall Lettings & Parish Fees etc Mission & Pilgrimage Grants Church Restoration Resources Expended Church Activities 3 Fund Raising costs Total Resources Expended Net Incoming/(Outgoing) for the year Before Recognised Gains Funds Brought Forward (01/01/20) Funds Carried Forward (31/12/20) |
Unrestricted Funds £ 34,521 690 10 14,443 49,664 52,500 264 52,764 (3,100) 15,697 12,597 |
Restricted Funds £ 5,854 3,500 321 9,675 15,219 15,219 (5,544) 24,771 19,227 |
Total 2020 £ 40,375 690 10 14,443 0 3,500 321 59,339 67,719 264 67,983 (8,644) 40,468 31,824 |
Total 2019 £ 56,307 4,775 26 28,011 2,690 1,908 2,527 |
|---|---|---|---|---|
| 96,244 | ||||
| 89,460 399 |
||||
| 89,859 | ||||
| 6,385 34,083 |
||||
| 40,468 |
The notes on pages 4 and 5 form part of these financial statements
Page 2
Parish of St Stephen's & St Mark's PCC Lewisham
Balance Sheet As at 31st December 2020
| Notes Fixed Assets Church Hall 1.2 Equipment 1.4 Current Assets Current Account Deposit Account Debtors - Tax recoverable Creditors falling due within one year Utilities Diocesan Loan 4 Net Current Assets Creditors falling due after one year Diocesan Loan 4 Total Net Assets PARISH FUNDS Unrestricted Restricted |
2020 £ 10,000 0 10,000 27,924 0 6,969 34,893 3,149 5,040 8,189 26,704 4,880 4,880 31,824 12,597 19,227 31,824 |
2019 £ 10,000 0 |
|---|---|---|
| 10,000 | ||
| 22,941 17,649 9,275 |
||
| 49,865 | ||
| 4,438 5,040 |
||
| 9,478 | ||
| 40,387 | ||
| 9,920 | ||
| 9,920 | ||
| 40,467 | ||
| 15,696 24,771 |
||
| 40,467 |
Approved by the Parochial Church Council and signed on its behalf by Fr Michael Bailey, Parish Priest St Stephen's and St Marks Church
Signed …………………………………………………….. Dated……………………………………......
The notes on pages 4 and 5 form part of these financial statements
Page 3
Parish of St Stephen's & St Mark's PCC Lewisham
Notes to the Financial Statements for the Year Ended 31st December 2020
1.0 Accounting Policies
- 1.1 The financial statements have been prepared in accordance with the Church Accounting Regulations 2006 together with the applicable accounting standards and SORP 2005 as applied to PCC's exceeding £100,000 gross income per year. The accounts are therefore on the accruals basis, incorporating a Statement of Financial Activities, a Balance Sheet and related Notes. They include all transactions, assets and liabilities for which the PCC is responsible in law.
Fixed Assets
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1.2 The Church Hall is included at a book value which has remained unchanged for at least the last 20 years. The origin of this book value cannot be established, but is not thought to be overstated.
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1.3 Moveable Church furnishings held by the vicar and churchwardens on special trust for the PCC and which require a special faculty for disposal, are unalienable property, listed in the church's terrier. For anything acquired before 2000 there is insufficient cost information available and therefore such assets are not valued in the financial statements. Subsequently no individual item has cost £1,000, so all such expenditure has been written off when incurred.
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1.4 Equipment used within the church or church hall is depreciated on a straight-line basis over four years, if costing over £1,000.
| 2.0 3.0 |
Incoming Resources Donations Planned Giving Donations Tax recoverable Collections Resources Expended Donations to Charities Diocesan Quota & Share of Parish Fees Other Ministry Costs Note A Insurance Heating, Lighting etc Church Maintenance Church Hall Maintenance Depreciation of Equipment Mission & Pilgrimage Other Note B |
Unrestricted Funds £ 21,628 3,915 6,973 2,005 34,521 830 25,552 7,831 6,997 6,468 2,952 1,870 0 0 0 52,500 |
Restricted Funds £ 4,400 354 1,100 0 5,854 104 0 3,160 0 0 0 0 11,955 0 0 15,219 |
Total 2019 26,028 4,269 8,073 2,005 40,375 934 25,552 10,991 6,997 6,468 2,952 1,870 11,955 0 0 67,719 |
Total 2018 31,786 8,276 10,736 5,509 |
|---|---|---|---|---|---|
| 56,307 | |||||
| 1,557 38,663 19,794 6,001 8,724 1,749 5,004 535 2,525 4,908 |
|||||
| 89,460 |
Note A - The restricted expenditure relates to the choir. Note B - Mainly the provision of a Sound System £9,423
Page 4
Parish of St Stephen's & St Mark's PCC Lewisham
Notes to the Financial Statements for the Year Ended 31st December 2020 (continued)
| **4 ** | Diocesan Loan Balance outstanding at 01/01/19 Loan received Repayment during the year Balance outstanding at 31/12/19 Loan repayment < 1 year Loan repayment > 1 year |
2020 14,960 0 (5,040) 9,920 5,040 4,880 9,920 |
2019 19,580 0 (4,620) |
|---|---|---|---|
| 14,960 | |||
| 5,040 9,920 |
|||
| 14,960 |
Page 5