## **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: - examine the accounts under section 145 of the 2011 Act - to follow the procedures laid down in the general Directions given by the commission under section 145(5)(b) of the 2011 Act - 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:- 1. 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 2011 Act; and - 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. 2. 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 - 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. - 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. - 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