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2020-12-31-accounts

Digitally Signed Document Document ID: B7ADB6477E90F5

Document Details:

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PCC St Johns Deptford With Holy Trinity - Final Accounts
Filename:
Approved 22 April 2021.pdf
Client of: Landergan & Co Ltd
Signature Details
Name: James Baudains
Email: jamesabaudains@gmail.com
Date & Time: 22/04/2021 22:03:49 (BST)
IP Address: 88.105.17.48
James and Sola, See attached files and can you please
approve both of them and the system will then create an
Signing Statement: electronic signature and send me and I believe yourselves a
copy of the approved PDF. I look forward to joining you for a
service when it is safe to do so, hopefully not too long. Y I H
Name: Sola Ogun
Email: solabomiogun@gmail.com
Date & Time: 22/04/2021 22:03:41 (BST)
IP Address: 86.161.24.159
James and Sola, See attached files and can you please
approve both of them and the system will then create an
Signing Statement: electronic signature and send me and I believe yourselves a
copy of the approved PDF. I look forward to joining you for a
service when it is safe to do so, hopefully not too long. Y I H
----- End of picture text -----

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Charity number: 1186695

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST JOHN WITH HOLY TRINITY

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST JOHN WITH HOLY TRINITY

CONTENTS
Page
Reference and administrative details of the charity, its trustees and advisers 1
Trustees' report 2 - 6
Independent examiner's report 7 - 8
Statement of financial activities 9
Balance sheet 10
Notes to the financial statements 11 - 19

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST JOHN WITH HOLY TRINITY

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2020

Trustees

Rev P Farley-Moore, Incumbent (appointed 2 December 2019, resigned 24 March 2021) Ms A Drew (appointed 2 December 2019) Rev P Soer (appointed 2 December 2019) Rev A A Adetayo (appointed 2 December 2019) Ms J Asombang (appointed 2 December 2019) J Gilkes (appointed 2 December 2019) Ms C Amadi (appointed 2 December 2019) Ms S J Chapman (appointed 2 December 2019) A Kamara (appointed 2 December 2019) D Addo, Church Warden (appointed 2 December 2019) W Ssempala (appointed 2 December 2019) B Ade-Ojo, Church Warden (appointed 2 December 2019) Ms M Mukete (appointed 2 December 2019) Ms R O Okiti (appointed 2 December 2019) Ms S A Ogun, Lay Chair From 24 March 2021 (appointed 2 December 2019) Ms S Brown (appointed 2 December 2019) Rev A Bennet (appointed 2 December 2019) J Baudains (appointed 2 December 2019) Ms E A Maude, Secretary (appointed 2 December 2019)

Treasurer

Ms S Coudjoe, Non PCC Member

Charity registered number

1186695

Principal office

St John's Church, St John's Vale, London, SE8 4EA

Secretary

Ms E A Maude

Independent Examiner

P M Landergan FCA, 26 Burney Street, London, SE10 8EX

Page 1

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST JOHN WITH HOLY TRINITY

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2020

The Trustees present their annual report together with the financial statements of the charity for the year 1 January 2020 to 31 December 2020.

Objectives and Activities

a. POLICIES AND OBJECTIVES

The PCC’s charitable objects (‘Promoting in the ecclesiastical parish the whole mission of the Church’) are primarily focused on the advancement of religion, which is recognised as a charitable purpose having public benefit. All regular public worship is provided free of charge and open to all. In addition, the PCC’s activities as listed above have further public benefits; for example, teaching and taking assemblies offer advancement of education which is recognised as a charitable purpose having public benefit. Donations to other charities and our own projects provide public benefits in the relief of poverty and need, whether within or outside the ecclesiastical parish, often for minority groups with particular needs such as the elderly.

b. ACTIVITIES FOR ACHIEVING OBJECTIVES

When planning our activities for the year, we have considered the Charity Commission's guidance on public benefit and, in particular, the supplementary guidance on charities for the advancement of religion. In particular, we try to enable ordinary people to live out their faith as part of our parish community through:

To facilitate this work, it is important that we maintain the fabric of the church building.

We promote the church’s mission to the whole parish as well as the worshipping community. Activities in 2020 have been seriously constrained by the pandemic, but have still included:

c. MAIN ACTIVITIES UNDERTAKEN TO FURTHER THE CHARITY'S PURPOSES FOR PUBLIC BENEFIT

Additional activities have also been carried out with a specific view to benefiting the public:

Page 2

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST JOHN WITH HOLY TRINITY

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2020

Achievements and performance

a. KEY FINANCIAL PERFORMANCE INDICATORS

The PCC operates as a registered charity and whilst its objectives are not focused as such, the financial health remains paramount in its ability to carry out activities and meet its objectives. Our key performance indicators are comprised of the following:

b. REVIEW OF ACTIVITIES

Religious worship

Until the pandemic we ran a variety of services and worship events. At present only two continue. Sunday morning worship at 10:30am has run faithfully throughout the year, either online or in-person depending on lockdown and social distancing regulations.

Baptisms and weddings have generally not been possible due to lockdown restrictions, though we have had one of each during the year. There were also few funerals, as the restrictions meant that people tended to go directly to crematoria and have small ceremonies with a celebrant.

The technological challenges of putting out regular online worship on a very small equipment budget were considerable, but we were able to carry this out with the help of talented volunteers. YouTube services were recorded and premiered initially during the first lockdown, followed by online meetings enabling further interaction from the congregation.

Pastoral Care

Visiting has been almost completely prevented by the pandemic, but we have endeavoured to keep in touch by telephone, letter and email.

Mission and Evangelism

This year our outreach has been almost entirely online and we are yet to see the impact and fruits of this.

Volunteers

The PCC thanks all volunteers who work so hard to make our church the lively and vibrant community it is.

Ravensbourne Team

St John’s with Holy Trinity is part of the Ravensbourne Team and Rev P Farley-Moore was Team Rector until March 2021 along with Rev A Bennett Team Vicar Ascension and Holy Trinity and Rev L Maseko Team Curate Ascension and Holy Trinity and many activities are run jointly and this close collaboration strengthens all members of the Team.

Page 3

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST JOHN WITH HOLY TRINITY

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2020

Activities of the Ravensbourne Team were, of course, also constrained in 2020 by the pandemic. However, the clergy kept in touch and ensured that pastoral contact was maintained with the most vulnerable people in our congregations. We made a concerted effort to keep the LewCAS foodbank going, with doorstep collections of food in Blackheath dropped off at St John’s by a volunteer each week. We offered emergency volunteer assistance from the Blackheath group when the usual volunteers were shielding.

We also shared aspects of our online worship, cross-posting Palm Sunday worship in lieu of our usual joint service. Across the team we have been hampered by seeing much of our Fresh Expressions work pausing, such as the Ark at the Ascension, but we are now making plans to restart. We have kept in touch with our congregations through WhatsApp and other electronic means, as well as phone calls and letters from the clergy.

Financial review

a. GOING CONCERN

After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.

The Trustees have considered the impact of the Coronavirus on the church as a whole and note that the income has reduced, largely as a result of the inability to let out the church hall. Expenditure has also reduced, albeit to a lesser degree, given the limitations on activity. Given the level of reserves noted below, the Trustees believe that the finances are adequate though the situation will be monitored going forwards and appropriate actions taken if needed. Optimism is maintained for 2021 that hall letting income should return to its pre-lockdown levels when national restrictions are lifted.

b. RESERVES POLICY

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to not less than 3 months expenditure. The trustees consider that, if there is a significant drop in funding, the reserves held at this level will enable the charity to continue its current activities. In addition, the trustees will have time to give consideration as to how additional funds could be generated.. The level of required reserves has been met this year: Unrestricted free reserves (excludes the land and building) stand at £57,766 and 3 months of annual expenditure stand at £27,177 (1/4 of £108,707) and this policy is met based on liquid reserves that could be easily realised if needed.

As noted above, maintaining the fabric of the church building is important to carrying out our objectives. The PCC has historically set aside an accumulating fund informally for this purpose. It has now been decided to formally recognise a separate designated fund for this purpose of £30,000 and this will be reviewed annually.

Structure, governance and management

a. CONSTITUTION

The charity was incorporated on 2 December 2019 and assumed responsibility for the Charity on that date.

The PCC has the responsibility of co-operating with the Incumbent or in his absence the Church Wardens in promoting, within the Parish, the whole mission of the church; pastoral, evangelistic, social and ecumenical.

Page 4

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST JOHN WITH HOLY TRINITY

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2020

b. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES

Members of the PCC are either elected by the Annual Parochial Church Meeting (APCM), in accordance with the Church Representation Rules, or are ex officio.

The management of the charity is the responsibility of the Incumbent, and PCC who are elected and co opted under 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.

c. ORGANISATIONAL STRUCTURE AND DECISION MAKING

St John’s forms part of the wider Church of England and comes under the authority of the Diocese of Southwark.

The PCC operates through several working parties and committees which meet between full meetings of the PCC. The Standing Committee is the only committee required by law and it has the power to conduct the business of the PCC between its meetings, subject to the direction of the PCC.

d. RISK MANAGEMENT

The Incumbent and PCC have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks. Included in the assessment are matters relating to; Health and Safety and Safeguarding Policies as well as comprehensive insurance cover.

The PCC has adopted the Diocese’s Safe Church policies and procedures to safeguard children, young persons and adults who might be vulnerable. These policies and procedures are regularly monitored to ensure implementation. Each year our Safeguarding Officers attend at least two PCC meetings to keep us updated of requirements and also submit written reports in order that we can fully support them, our young people and any vulnerable adults. All persons who have contact with children, young persons and adults who might be vulnerable, are required to possess a clear Disclosure and Barring Service (“DBS”) report and receive information on safe caring and whistle blowing.

e. ASSET and PROPERTY MANAGEMENT

The PCC is responsible for the consecrated and beneficed church building and land. Churchwardens hold on special trust for the PCC moveable church furnishings.They are also responsible for Hall located at though it is held on trust for them by the Diocese of Southwark.

TRUSTEES' RESPONSIBILITIES STATEMENT

The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:

Page 5

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST JOHN WITH HOLY TRINITY

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2020

The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report was approved by the Trustees, on 22 April 2021 and signed on their behalf by:

S A Ogun Lay Chair PCC

Page 6

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST JOHN WITH HOLY TRINITY

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2020

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST JOHN WITH HOLY TRINITY (the 'charity')

I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 December 2020.

This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report.

RESPONSIBILITIES AND BASIS OF REPORT

As the Trustees of the charity 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 charity's accounts carried out under section 145 of the 2011 Act and 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 charity has prepared the accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts 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 been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I can 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 charity as required by section 130 of the 2011 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts 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.

Page 7

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST JOHN WITH HOLY TRINITY

INDEPENDENT EXAMINER'S REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2020

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 accounts to be reached.

Signed:

Dated: 22 April 2021

P M Landergan FCA (7643305)

Landergan & Co Ltd, 26 Burney Street, London SE10 8EX

Page 8

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST JOHN WITH HOLY TRINITY

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020

Unrestricted
funds
Note
2020
£
INCOME FROM:
Donations and legacies
2
84,760
Other trading activities
3
4,540
Investments
4
12,175
TOTAL INCOME
101,475
EXPENDITURE ON:
Charitable activities
7
108,707
TOTAL EXPENDITURE
8
108,707
NET INCOME / (EXPENDITURE) BEFORE
OTHER RECOGNISED GAINS AND LOSSES
(7,232)
NET MOVEMENT IN FUNDS
(7,232)
RECONCILIATION OF FUNDS:
Total funds brought forward
459,998
TOTAL FUNDS CARRIED FORWARD
452,766		 Restricted
funds
2020
£
19,933
-
-
19,933
2,787
2,787
17,146
17,146
24,129
41,275		 Total
funds
2020
£
104,693
4,540
12,175
121,408
111,494
111,494
9,914
9,914
484,127
494,041		 Total
funds
2019
£
109,450
15,301
40,089
164,840
137,767
137,767
27,073
27,073
457,054
484,127

The notes on pages 11 to 19 form part of these financial statements.

Page 9

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST JOHN WITH HOLY TRINITY

BALANCE SHEET AS AT 31 DECEMBER 2020

Note
FIXED ASSETS
Tangible assets
11
CURRENT ASSETS
Debtors
12
Cash at bank and in hand
CREDITORS:amounts falling due within
one year
13
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS:amounts falling due after
more than one year
14
NET ASSETS
CHARITY FUNDS
Restricted funds
15
Unrestricted funds
15
TOTAL FUNDS		 £
12,470
98,444
110,914
(7,071)		 2020
£
395,000
103,843
498,843
(4,802)
494,041
41,275
452,766
494,041		 £
15,580
82,799
98,379
(3,914)		 2019
£
397,500
94,465
491,965
(7,838)
484,127
24,129
459,998
484,127

The financial statements were approved by the Trustees on 22 April 2021 and signed on their behalf, by:

S A Ogun Lay Chair PCC

J Baudains PCC Member

The notes on pages 11 to 19 form part of these financial statements.

Page 10

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST JOHN WITH HOLY TRINITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

1. ACCOUNTING POLICIES

1.1 Basis of preparation of financial statements

The financial statements have been prepared to give a 'true and fair' view and 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 Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: 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) issued on 16 July 2014 and Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and Charities Act 2011.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH of ST JOHN with HOLY TRINITY constitutes a public benefit entity as defined by FRS 102.

Comparatives

These financial statements are the first financial statements of THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH of ST JOHN with HOLY TRINITY prepared under the "Accruals Basis" as the figures for 2019 were under the "Receipts and Payments" basis.

The result of this is an uplift in Opening Reserves on the General Fund from £58,670 to £459,917, and increase of £401,329 due to the inclusion of the Freehold Land and Buildings brought in at a valuation of £400,000 less deprecation for 2019 of £2,500, a net increase of £397,500 and Tax Recoverable of £15,581 the recognition of a loan of £10,874 previously included as income and Creditors of £878.

Page 11

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST JOHN WITH HOLY TRINITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

1. ACCOUNTING POLICIES (continued)

1.2 Income

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

1.3 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. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.

Charitable activities and Governance costs are costs incurred on the charity's operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

All expenditure is inclusive of irrecoverable VAT.

Page 12

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST JOHN WITH HOLY TRINITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

1. ACCOUNTING POLICIES (continued)

1.4 Tangible fixed assets and depreciation

All assets costing more than £1,000 are capitalised.

A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of financial activities.

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is not charged on freehold land. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold property

100 Years Buildings Only

1.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

1.6 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.7 Cash at Bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.8 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.

1.9 Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Page 13

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST JOHN WITH HOLY TRINITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

1. ACCOUNTING POLICIES (continued)

1.10 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

2. INCOME FROM DONATIONS AND LEGACIES

Unrestricted
funds
2020
£
Donations
84,760
Grants
-
Total donations and legacies
84,760
Total 2019
104,734		 Restricted
funds
2020
£
3,148
16,785
19,933
4,716		 Total
funds
2020
£
87,908
16,785
104,693
109,450		 Total
funds
2019
£
98,010
11,440
109,450

3. FUNDRAISING INCOME

Unrestricted
funds
2020
£
Church Groups
1,469
Total 2019
11,053		 Restricted
funds
2020
£
-
-		 Total
funds
2020
£
1,469
11,053		 Total
funds
2019
£
11,053

Page 14

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST JOHN WITH HOLY TRINITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

4. INVESTMENT INCOME

Unrestricted
funds
2020
£
Rental Income
12,175
Total 2019
40,089		 Restricted
funds
2020
£
-
-		 Total
funds
2020
£
12,175
40,089		 Total
funds
2019
£
40,089

5. DIRECT COSTS

Fabric Expenses
Parish Share
Cleaning
Depreciation
Total 2019
SUPPORT COSTS
Worship Expenses
Administration
Software
Organ
Telephone
Bank charges
Total 2019		 Activities
£
34,788
46,000
2,428
2,500
85,716
111,018
Activities
£
5,816
6,957
2,307
2,787
1,002
478
19,347
20,453		 Total
2020
£
34,788
46,000
2,428
2,500
85,716
111,018
Total
2020
£
5,816
6,957
2,307
2,787
1,002
478
19,347
20,453		 Total
2019
£
62,049
44,000
2,469
2,500
111,018
Total
2019
£
10,386
6,503
-
2,510
1,054
-
20,453

6. SUPPORT COSTS

Page 15

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST JOHN WITH HOLY TRINITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

7. GOVERNANCE COSTS

Unrestricted
funds
Restricted
funds
2020
£
2020
£
Examination Fee
2,100
-
ANALYSIS OF EXPENDITURE BY EXPENDITURE TYPE
Depreciation
Other costs
2020
£
2020
£
Ministry Expenses
2,500
106,894
Expenditure on governance
-
2,100
2,500
108,994
Total 2019
2,500
135,267
NET INCOME/(EXPENDITURE)
This is stated after charging:

Depreciation of tangible fixed assets:
- owned by the charity		 Total
funds
2020
£
2,100
Total
2020
£
109,394
2,100
111,494
137,767
2020
£
2,500		 Total
funds
2019
£
-
Total
2019
£
137,767
-
137,767
2019
£
2,500

8. ANALYSIS OF EXPENDITURE BY EXPENDITURE TYPE

9. NET INCOME/(EXPENDITURE)

During the year, no Trustees received any remuneration from the PCC (2019 - £NIL). During the year, no Trustees received any benefits in kind (2019 - £NIL).

4 Trustees received reimbursement of expenses amounting to £2,223 in the current year, (2019 - 5 Trustee - £7,227) in respect of ministry expenses

10. EXAMINATION FEE

The Independent Examiner's remuneration amounts to an Independent Examination fee of £2,100 (2019 - £ -). - -

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST JOHN WITH HOLY TRINITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

11. TANGIBLE FIXED ASSETS

Cost
At 1 January 2020 and 31 December 2020
Depreciation
At 1 January 2020
Charge for the year
At 31 December 2020
Net book value
At 31 December 2020
At 31 December 2019		 Freehold
property
£
400,000
2,500
2,500
5,000
395,000
397,500

Included in land and buildings is freehold land at valuation of £150,000 ( 2019 - £ 150,000) which is not depreciated.

12. DEBTORS

12.
DEBTORS
Tax recoverable
13.
CREDITORS: Amounts falling due within one year
Other loans
Trade creditors
Accruals and deferred income
14.
CREDITORS: Amounts falling due after more than one year
Other loans		 2020
£
12,470
2020
£
3,036
1,935
2,100
7,071
2020
£
4,802		 2019
£
15,580
2019
£
3,036
878
-
3,914
2019
£
7,838

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST JOHN WITH HOLY TRINITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

15. STATEMENT OF FUNDS

STATEMENT OF FUNDS - CURRENT YEAR

Designated funds
Fabric Fund
General funds
General Fund
Total Unrestricted funds
Restricted funds
Organ Fund
Youth Fund
Total of funds		 Balance at
1 January
2020
£
-
459,998
459,998
24,129
-
24,129
484,127		 Income Expenditure
£
£
-
-
101,475
(108,707)
101,475
(108,707)
3,148
(2,787)
16,785
-
19,933
(2,787)
121,408
(111,494)		 Transfers
in/out
£
30,000
(30,000)
-
-
-
-
-		 Balance at
31
December
2020
£
30,000
422,766
452,766
24,490
16,785
41,275
494,041

Designated fund

Fabric Fund - Earmarked fund in respect of future repairs to the fabric of the Church

Restricted Funds

Organ Fund - Specific gifts given to maintain and repair the organ.

Youth Fund - Grant received to be used to support Youth Work once this is possible

STATEMENT OF FUNDS - PRIOR YEAR

General funds
General Fund
Restricted funds
Organ Fund		 Balance at
1 January
2019
£
437,476
19,578		 Income
£
160,124
4,716		 Expenditure
£
(137,602)
(165)		 Transfers
in/out
£
-
-		 Balance at
31
December
2019
£
459,998
24,129

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST JOHN WITH HOLY TRINITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

15. STATEMENT OF FUNDS (continued)

Total of funds 457,054 164,840 (137,767) - 484,127

16. ANALYSIS OF NET ASSETS BETWEEN FUNDS

ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR

----- Start of picture text -----
||||| |---|---|---|---| |Unrestricted|Restricted|Total| |funds|funds|funds| |2020|2020|2020| |£|£|£| |-| |Tangible fixed assets|395,000|395,000| |Current assets|69,640|41,275|110,915| |-| |Creditors due within one year|(7,072)|(7,072)| |-| |Creditors due in more than one year|(4,802)|(4,802)| |452,766|41,275|494,041| |ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR| |Unrestricted|Restricted|Total| |funds|funds|funds| |2019|2019|2019| |£|£|£| |-| |Tangible fixed assets|397,500|397,500| |Current assets|74,250|24,129|98,379| |-| |Creditors due within one year|(3,914)|(3,914)| |-| |Creditors due in more than one year|(7,838)|(7,838)| |459,998|24,129|484,127|

----- End of picture text -----

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