| St Margaret the Queen, | Streatham | Hill, London SW2 | |
|---|---|---|---|
| Reports and Financial Statements | 2022 | ||
| Contents | Page | ||
| Independent Examiner's |
Report | ||
| Balance Sheet | |||
| Statement of Financial | Activities | ||
| Notes to the Financial Statements | 4-7 |
| Note | 2022 | 2021 | ||||
|---|---|---|---|---|---|---|
| 6 | F | 6 | ||||
| CURRENT ASSETS | ||||||
| Debtors | 2,594 | |||||
| Nat West Deposit Account | 11,298 | 3,595 | ||||
| CCLA Deposit Account | 1,003 | 1,003 | ||||
| Nat West Current Account | 162,221 | 35,121 | ||||
| 174,522 | 42,313 | |||||
| LIABILITIES:AMOUNTS | FALLING | DUE | ||||
| WITHIN ONE | YEAR | |||||
| Creditors and accruals | 250 | 10,669 | ||||
| 174,272 | 31,644 | |||||
| NET ASSETS | 174,272 | 31,644 | ||||
| FUNDS | ||||||
| Unrestricted | 92,711 | 31,644 | ||||
| Restricted | 81,562 | |||||
| 174272, | 31,644 |
| Unrestricted | Restricted | TOTAL | TOTAL | ||
|---|---|---|---|---|---|
| Funds | Funda | FUNDS | FUNDS | ||
| 2022 | 2021 | ||||
| Note | 6 | F | 6 | 6 | |
| INCOME AND ENDOWMENTS | |||||
| Voluntary income |
2(a) | 80,307 | 131,339 | 211,646 | 25,766 |
| Income from investments | 2(b) | 17 | 0 | 17 | |
| Income from church activities | 2(c) | 46,235 | 0 | 46,235 | 42,691 |
| Other income | 2(d) | 5,000 | 0 | 5,000 | 3,551 |
| TOTAL INCOME AND ENDOWMENTS | 131,559 | 131,339 | 262,898 | 72,008 | |
| EXPENDITURE | |||||
| Church activities | 3(a) | 65,935 | 49,777 | 115,713 | 68,375 |
| Church management and administration |
3(b) | 4,557 | 0 | 4,557 | 885 |
| TOTAL EXPENDITURE | 70,493 | 49,777 | 120,270 | 69,260 | |
| SURPLUS I(DEFICIT) FOR THE YEAR | 61,067 | 81,562 | 142,628 | 2,748 | |
| BALANCES BROUGHT FORWARD AT | |||||
| 1 JANUARY 2022 | 31,644 | 0 | 31,644 | 28,896 | |
| BALANCES CARRIED FORWARD AT | |||||
| 31 DECEMBER2022 | 92,711 | 81,562 | 174,272 | 31,644 |
| StIfiargaret the Queen, Streatham Hill, London SW Notes tothe Financial Statements Forthe year ended 31December 2022 |
2 | ||||||
|---|---|---|---|---|---|---|---|
| 1.ACCOUNTING POLICIES |
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| The financial statements have been prepared under the Church Accounting Regulations |
2006 in accordance | with the current Statement | |||||
| ofRecommended Pracbiw, Accounting and Reporting |
by Charities and applicable accounting |
standard | FRS 102. | ||||
| The financial statements have been prepared under ths historical cost convention. |
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| Ths financial statements inr)ude afi trsnsacfions, assets snd liabilities for which the PCC |
is responsible | in law. They do not indude | |||||
| financial statements ofchurch groups that owe their main affiliation to another body nor those |
that are informal gatherings ofchurch |
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| members. | |||||||
| Funds | |||||||
| General funds represent the funds oftha PCC that sre |
not subject to sny restrictions regarding |
their use | and | are avsilibls for application | |||
| on the general purposes ofthe PCC. Funds designated | for a particular purpose by the PCC sre also unrestricted. |
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| Restricted funds are those funds that must be spent on restricted purposes and details ofthe | funds held | and | rsstricfions sre provided | ||||
| in note 8. | |||||||
| There are no Endowment funds held. |
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| Gross Income and endowments | |||||||
| Voluntary Income and endowments |
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| Collections are recognised when received by end on behalf ofthe PCC. |
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| Planned giving under Gift Aid is recognised only when |
received. | ||||||
| Income Tax recoverable on Gift Aid donations is recognised in respect ofincome recognised |
from 1stJanuary 2020to 31December 2020. | ||||||
| Grants and legacies tothe PCC are accounted foras soon as the PCC is nofified ofits legal enfitlement, | ths | amount due is quantifiable | and | ||||
| its ultimate receipt by the PCC is reasonably certain. |
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| Income from investments | |||||||
| Interest entifiements are accounted foras they accrue. |
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| Expenditure | |||||||
| Grants | |||||||
| Grants and donations ars accounted for when paid over, orwhen awarded, ifthat award |
creates a binding | obliga5on on the PCC. | |||||
| Activities directly relating tothe work ofthe Church | |||||||
| The diocesan parish share isaccounted for when due. | Any parish share unpaid at 31 December is provided | for in these financial | |||||
| statements ssan operskonal (though not legal) liability |
is shown as a creditor in ths Balance Sheet | ||||||
| Fixed Assets | |||||||
| Consecrated and beneficed properly of any kind is excluded from the accounts by S.10(2)(s) |
and (c)bof | the | Charifies Act2011. | ||||
| Movable church furnishings held by the Priest-in-Charge |
and Churchwsrdens on special |
trust | forthe PCC, | and which require a faculty | |||
| for disposal, are accounted fores inalienable property unless consecrated. For inalienable |
property there is insufficient cost information | ||||||
| and therefore such assets are not valued in the financial statemerrls. |
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| Afi expenditure incurred in the year on consecrated or beneficed buildings and the repair |
of movable church | furnishings is written off. |
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| Other plant and machinery, fixtures and fittings and office equipment |
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| Equipment used within church premises is depreciated |
on s straight line hews over 10years. |
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| Current Assets | |||||||
| Amounts owing to the PCC at 31 December in respect |
offees, rents or other income are | shown as debtors | less provision foramounts | ||||
| that may prove uncofiectable. | |||||||
| Short term deposits indude cash held on deposit either | with the CBFChurch of England Funds or at the |
bank. |
| Unrestricted | Restricted | TOTAL | TOTAL | |||
|---|---|---|---|---|---|---|
| Funds | Funds | FUNDS | FUNDS | |||
| 2022 | 2021 | |||||
| 6 | 5 | f | F | |||
| 2(a) Voluntary | income | |||||
| Donations | 77,407 | 62,608 | 140,015 | 566 | ||
| Grants | 1,900 | 68,731 | 70,631 | 25,200 | ||
| Legacy | 1,000 | 0 | 1,000 | 0 | ||
| 80,307 | 131,339 | 211,646 | 25,766 | |||
| 2(b) Income from investments | ||||||
| Interest | 17 | 17 | ||||
| 17 | 17 | |||||
| 2(c) Income from church activities | ||||||
| Income of | hire ofchurch | / hall | 46,235 | 0 | 46,235 | 42,650 |
| Open Day | 0 | 0 | 0 | 41 | ||
| 46,235 | 0 | 46,235 | 42,691 | |||
| 2(d) Other income | ||||||
| Insurance | claim | 5,000 | 0 | 5,000 | 1,071 | |
| Sale of Pews | 0 | 0 | 0 | 2,480 | ||
| 5,000 | 0 | 5,000 | 3,551 | |||
| TOTAL INCOME AND ENDOWMENTS | 131,559 | 131,339 | 262,898 | 72,008 |
| 3.EXPENDITURE | ||||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | TOTAL | TOTAL | |||
| Funds | Funds | FUNDS | FUNDS | |||
| 2022 | 2021 | |||||
| 6 | 9 | 6 | ||||
| 3(a) Church activities | ||||||
| Architect Fees | 0 | 4,667 | 4,667 | 1,290 | ||
| Building Consultancy | fees | 0 | 8,532 | 8,532 | 0 | |
| Building work | 0 | 5,623 | 5,623 | 0 | ||
| Communuty Garden |
0 | 879 | 879 | 0 | ||
| Co-op Fund | 0 | 80 | 80 | 0 | ||
| Gas installation | 0 | 9,068 | 9,068 | 0 | ||
| Ground maintenance |
5,063 | 0 | 5,063 | 0 | ||
| Insurance | 5,102 | 0 | 5,102 | 5,284 | ||
| Marketing &Advertising |
1,910 | 0 | 1,910 | 4,371 | ||
| Nehemiah Project |
49 | 0 | 49 | 0 | ||
| Open Day | 0 | 0 | 0 | 990 | ||
| Parish Support Fund | 3,250 | 0 | 3,250 | 0 | ||
| Payroll costs | 359 | 0 | 359 | 290 | ||
| Refugee Project | 0 | 697 | 697 | 0 | ||
| Repairs and maintenance | 16,441 | 0 | 16,441 | 4,684 | ||
| Staff training | 814 | 0 | 814 | 99 | ||
| Subscription | 146 | 0 | 146 | 50 | ||
| Telephone f broadband | 115 | 0 | 115 | 850 | ||
| Utilities | 6,682 | 0 | 6,682 | 7,294 | ||
| Wages &Salaries | 26,004 | 19,660 | 45,664 | 43,173 | ||
| Youth Club | 0 | 572 | 572 | 0 | ||
| 65,935 | 49,777 | 115,713 | 68,375 | |||
| 3(b) Church management | and administration | |||||
| Accountancy fees | 2,900 | 0 | 2,900 | 250 | ||
| ONce & admin costs | 1,085 | 0 | 1,085 | 543 | ||
| Pdnting, stationery, |
photocopying | |||||
| and publicity | 572 | 0 | 572 | 92 | ||
| 4,557 | 0 | 4,557 | 885 | |||
| TOTAL EXPENDITURE | 70,493 | 49,777 | 120,270 | 69,260 |
| StMargaret the Queen, Streatham | StMargaret the Queen, Streatham | StMargaret the Queen, Streatham | StMargaret the Queen, Streatham | Hill, London SW2 | Hill, London SW2 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Notes tothe Financial Statements | |||||||||||||
| For the year ended 31December | 2022 (Conduced) | ||||||||||||
| 4.DEBTORS | 2022 | 2021 | |||||||||||
| 2 | |||||||||||||
| Prepayments | 2,594 | ||||||||||||
| 2,594 | |||||||||||||
| 5.CREDITORS AND ACCRUALS | 2022 | 2021 | |||||||||||
| 2 | 5 | ||||||||||||
| St Margaret | Development | Company | Ltd | 0 | 10,669 | ||||||||
| Accruels | 250 | ||||||||||||
| 250 | 10,669 | ||||||||||||
| 6.RESTRICTED FUNDS | |||||||||||||
| Bugdlng | Refugee | Community | |||||||||||
| Fund | Pro ect | Youth Club | Sale | Garden | Cour | Fund | Total | ||||||
| Balance as | at1stJanuary | 2022 | 0 | 0 | 0 | 0 | |||||||
| Receipts | |||||||||||||
| StMargaret | Development | Company | Ltd | 62,608 | 0 | 0 | 0 | 0 | 0 | 62,608 | |||
| Grant- Big | Lottery Fund | 0 | 10,000 | 21,0DD | 11,260 | 0 | 0 | 42,260 | |||||
| Grant-Asda | Foundation | 0 | 0 | 0 | 0 | 16,000 | 0 | 16,000 | |||||
| Grant- City | Bridge Trust | 0 | 0 | 0 | 8,400 | 0 | 0 | 8,400 | |||||
| Grant - Co-op | D | 0 | 0 | 0 | 0 | 2,071 | 2,071 | ||||||
| 52,608 | 10,000 | 21,000 | 19,860 | 16,000 | 2,071 | 131,339 | |||||||
| Payments | |||||||||||||
| Architect, consultancy fees & building | work | 27,890 | 0 | 0 | 0 | 0 | 0 | 27,890 | |||||
| Expenses | 0 | 697 | 572 | 0 | 879 | 80 | 2,227 | ||||||
| Salary | 0 | 0 | 0 | 19,660 | 0 | 0 | 19,860 | ||||||
| 27,890 | 597 | 572 | 19,660 | 879 | 80 | 49,777 | |||||||
| Balance as | at31stDecember | 2022 | 34718 | 9303 | 20r428 | 0 | 15121 | 1 991 | 81 562 |