The Parochial Church Council of St Saviour s, Pimlico. Annual Report and Accounts. for the year ended 31 December 2014

Transcription

1 The Parochial Church Council of St Saviour s, Pimlico Annual Report and Accounts for the year ended 31 December 2014 Registered charity number

2 St Saviour s, Pimlico Annual report and accounts Year ended 31 December 2014 Contents Pages Annual report 3-6 Independent examiner s report 7 Statement of Financial Activities 8 Balance sheet 9 Notes to the accounts

3 St Saviour s, Pimlico Annual report of the Parochial Church Council Year ended 31 December 2014 Aim and purposes The Parochial Church Council (PCC) of St Saviour s, Pimlico, has the responsibility of cooperating with the incumbent, the Reverend Matthew Catterick, in promoting in the ecclesiastical parish, the whole mission of the Church, pastoral, evangelistic, social and ecumenical. The PCC is also specifically responsible for the maintenance of the church, the Pimlico Room, the Church Hall and the site that they stand on. It is responsible for the financial affairs of the parish and ensuring compliance with its legislative and statutory obligations. Objectives and activities As a Christian community we believe in a God who is ever creative, loving and who longs to see us flourish. At St Saviour s we are seeking to nurture and grow this understanding of God and we agree that God is calling us to live, pray and think as mature followers, fully engaged with modern life. 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 aim to: -Encourage ordinary people to live out their faith as part of our parish community. -Through worship and prayer to help each other to grow deeper in faith. -To witness that faith by preaching, teaching and practical deeds to benefit the wider community. Achievements and performance The main focus of 2014 was our 150 th Anniversary celebration. Merchandise was commissioned and sold through the year. Lorraine Miller, our Office Manager, left us in early summer, after a period of diligent service to the parish. Ceridwen Lee assisted us during the summer months in a temporary capacity, and in November, Martin Carr joined our team as our new Office Manager. Nicola Abbott has served as Churchwarden (and also Safeguarding Officer), until the 2014 APCM with Fiona Andrews, and subsequently with Lindsay Tricker. The choir has made huge strides forward under the guidance of our temporary Director of Music, Gina Kruger, who covered for Alex Norris during his sabbatical. Regrettably the Ark has been suspended due to insufficient commitment to leadership, but the children and young people remain involved in the worshipping life of the church. Parish life continued to flourish. Although there were no weddings, 8 baptisms took place, and 4 candidates were confirmed. A group visited Walsingham in May, and St Saviour s took a full part in Company of Servers events. Lorraine Reimmer preached on Christian Aid 3

4 St Saviour s, Pimlico Sunday. The Bishop of London joined us for the Dedication Festival Mass in July, and the Archdeacon of Charing Cross on Christ the King, to draw our anniversary celebrations to a close. Colin Menzies gave a lecture on the church s history, and Stephanie Pattenden led an evening on bellringing, which inspired new recruits to our Tower. Our barn dance was a success, and our theological reflections focused on our Lent and Advent courses, the latter exploring the Church s spiritual treasures. Canticum continue to inspire us with music at major festivals. We are also grateful to all who contribute to our Summer and Christmas Fairs, and SW Fest, which help to raise the profile of St Saviour s in the Community. Premises report As plans were being considered to replace the Church Hall flooring during the Easter break, a severe storm on 14 February 2014 felled a tree in St George s Square which landed on the south side of the Church Hall causing damage to the roof, guttering and floor. Repairs to the roof have been completed, the floor replaced, and new blinds installed. The Hall reopened in April 2014 and additional works took place during August Woodward Services replaced some high level lights, and others were replaced by Pat Batty and Danny Reeves as necessary. Due to the poor electrics, new bulbs are short-lived, and a longer-term plan is needed. CVs of potential quinquennial inspectors were received, resulting in the appointment of Jonathan Goode as our new QI in January We hope the inspection will take place within the next few months. The Premises Committee has continued to meet to advise on fabric issues. During 2014, Oliver Ranson and Martin King were added to this committee, bringing new expertise. Security has been improved by the installation of new coded locks by Banham to the vestry, Pimlico Room, outer door and organ corridor. The gutters were cleaned by Hall and Randall in accordance with the diocesan agreement. The latest report continues to show deterioration in the condition of the roof, and we will need to work during 2015, in the light of our quinquennial inspection, to plan and fund repairs. As a result of a visit from our insurance company (EIG) we have purchased Smartwater to mark metal and valuables against theft. The poor condition of some floor tiles was also noted, but not yet acted on. Improvements to the sanctuary light are also pending. The church boiler and heating system have undergone extensive works during the year by WJ Mechanical, who are now our servicing engineers. A number of complaints were received from Hall users as a result of various failures in the system. Though now in working order again, continued monitoring is needed to ensure the system is robust enough for next winter, and that we are getting good value for money from WJM. 4

5 St Saviour s, Pimlico Financial review The surplus for the year on unrestricted funds was 19,009 as shown in the first column on page 8. This reflects the improved level of congregational giving and expenditure being broadly in line with budget. A deficit arose on the restricted funds of 17,755 largely because of a depreciation charge of 9,165 which is offset against the value of the fixed assets and also since 9,594 of improvements to the Hall were charged against the Hall Development Fund. It is very encouraging that a surplus has arisen despite an 8,000 increase in the contribution to the Common Fund. Further details of the income are in Note 2 on page 12. Planned giving from the congregation increased by 11% to 28,332. With Gift Aid, collections and other donations, the total voluntary income increased from 52,784 to 54,680. The PCC received about 69% of its income from lettings which includes income from the hire of church hall and the Pimlico Room and for the use of the church. 48,565 was received from the mobile phone companies for the mobile phone masts. This was lower than in 2013 because of the closure of the hall following the damage caused to the roof in the storm on 14 th February However the income was maintained because the loss of income was covered by insurance. Details of the expenditure are shown in Note 3 on page 13. This has not increased significantly apart from the Common Fund contribution paid to the Diocese which rose from 65,000 to 73,000. The higher cost of repairs and maintenance at 43,092 reflects the cost of the new floor and blinds in the hall, some costly repairs to the boiler and the redecoration of the Pimlico Room. Of this, 11,531 was received from the insurance company toward the cost of the hall floor. The cost of staff was higher than budget by 2,778 because temporary staff were taken on for about three months following the departure of Lorraine Miller as office manager. Part of the salaries and other accounting costs are allocated to Governance shown in Note 3(c). Reserves policy It is the policy of the PCC to maintain unrestricted funds, which are the free reserves of the church, at a level which will provide sufficient funds to cover the normal ministry, management and administration costs of the church for a minimum of one month (but, ideally three months) and any emergency expenditure as it should arise. Additional reserves are set aside where, in the view of the PCC, it is prudent to allow for future expenditure plans. The level of free reserves at 31 December 2014 stood at 72,487 (2013: 52,552). Structure, governance and management The PCC is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council Powers Measure and is a registered charity. The method of appointment of PCC members is set out in the Church Representation Rules. At St Saviour s, the membership of the PCC consists of the vicar, the church wardens and members elected by those members of the congregation who are on the Electoral Roll of the church. All those who attend our services are encouraged to register on the Electoral Roll and to stand for election to the PCC. The full PCC met six times during the year. The Standing Committee, Premises Committee, and Communications Committee met between meetings and their deliberations were discussed by the full PCC where necessary and action taken. 5

6 St Saviour s, Pimlico Administrative information St Saviour's Church is situated in St George s Square, Pimlico. It is part of the Diocese of London, Westminster (St Margaret) Deanery, within the Church of England. The correspondence address is St Saviour's Church, St George's Square, London, SW1V 3QW. St Saviour's Church is registered with the Charity Commission under the registered number PCC members who have served from 1 January 2014 until the date this report was approved are: Ex officio members: Incumbent: Fr Matthew Catterick (Chair) Wardens: Nicola Abbott Fiona Andrews (to April 2014) Lindsay Tricker (from April 2014) Deanery Synod Representatives: Fiona Andrews Michael Gliddon Elected members: Doris Ashford Until April 2015 Carolyn Moree Until April 2015 Judith Sturgess Until April 2015 Sally Tooth Until April 2016 Lindsay Tricker Until April 2016 James Mountford Until April 2016 Matthew Hanslip Ward Until April 2017 Melissa Holloway Until April 2017 James Leighton Until April 2017 In addition, Alison Neilson attends PCC as Treasurer, and Martin Carr as Secretary. Approved by the PCC on 19 March 2015 and signed on their behalf by Fr Matthew Catterick (PCC Chair) 6

7 Independent Examiners report to the Trustees On the unaudited accounts of St Saviour's, Pimlico For the purposes of those charity funds on pages 8 to 16 which require an independent examiner's report I confirm the following: Respective Responsibilities of Trustees and Examiner The charity's trustees are responsible for the preparation of the financial statements. 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 financial statements (under section 145 of the 2011 Act); - to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the 2011 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 accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes considerations of any unusual items or disclosures in the financial statements, and the seeking of 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 no opinion is given as to whether the financial statements present a "true and fair view" and the report is limited to those matters set out in the statements below. 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 s130 of the 2011 Act; and - to prepare financial statements which agree with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met; or 2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached. H Cheesman FCA Chartered Accountant 104 Stockbridge Road Chichester West Sussex PO19 8QP 27th March

8 Statement of Financial Activities for the year ended 31 December 2014 Incoming resources Voluntary income Activities for generating funds Income from investments Church activities Other incoming resources Resources expended Church activities Cost of generating funds Governance Note Unrestricted Restricted Total Total Funds Funds (a) 54,680 2,490 57,170 53,858 2(b) 139, , ,881 2(c) (d) ,719 2(e) 25,220-25, ,740 2, , ,024 3(a) 194,730 20, , ,280 3(b) 1,881-1,881 1,902 3(c) 5,120-5,120 5, ,731 20, , ,829 Net incoming resources before transfers 19,009 (17,755) 1,254 25,195 Gross transfers between funds Net incoming resources before recognised gains and losses Unrealised gains on investment assets Net movement in funds Balances b/fwd at 1 January Balances c/fwd at 31 December ,009 (17,755) 1,254 25, ,051 6,080 8,924 19,038 (11,704) 7,334 34, , , , , , , , ,331 8

9 Balance Sheet at 31 December 2014 Note Fixed assets Tangible 7(a) 322, ,976 Investments 7(b) 69,796 63, , ,692 Current assets Debtors and prepayments 8 5,192 10,718 Deposit accounts 117, ,265 Cash at bank and in hand 29,089 21, , ,223 Liabilities Creditors 9 16,211 14,584 Net current assets 135, ,639 Total net assets 528, ,331 Parish funds Unrestricted 11 76,145 57,107 Restricted , , , ,331 Approved by the Parochial Church Council on 19th March 2015 and signed on their behalf by: The attached notes numbered 1 to 12 form part of this statement. 9

10 Notes to the Accounts 1 Accounting Policies The financial statements have been prepared in accordance under the Church Accounting Regulations 2006 in accordance with applicable accounting standards and the current Statement of Recommended Practice Accounting and Reporting by Charities (SORP 2005). The financial statements have been prepared under the historical cost convention except for investment assets, which are shown at market value. The accounts include all transactions, assets and liabilities for which the PCC 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 purposes provided in the terms of the trust or bequest, and (b) donations or grants received for a specific purpose for which they were given. Any balance remaining unspent at the end of each year must be carried forward as a balance on that fund. The PCC does not usually invest separately for each fund. Where there is no separate investment, interest is apportioned to individual funds on an average balance basis. Unrestricted funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application on the general purposes of the PCC. Funds designated for a particular purpose by the PCC are also unrestricted. Incoming Resources Voluntary income and capital sources Planned giving, collections and similar donations are recognised when received. Tax refunds are recognised when the incoming resource to which they relate is received. Grants and legacies to the PCC are accounted for as soon as the PCC is entitled to the use of the resources, the amount due is quantifiable, and its ultimate receipt by the PCC is reasonably certain. Funds raised from events are accounted for gross. Other ordinary income Rental income from the letting of church premises is recognised when the rental is due. Income from investments Dividends and interest are accounted for when receivable. Gains and losses on investments Realised gains or losses are recognised when investments are sold. Unrealised gains or losses are recognised on revaluation of investments at the end of each accounting year. 10

11 Notes to the Accounts (continued) 1 Accounting Policies (continued) 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 PCC. All other expenditure is generally recognised when it is incurred and is accounted for gross. Fixed assets Consecrated and beneficed property is not included in the accounts in accordance with s.10(2)(a) and (c) of the Charities Act Movable church furnishings are capitalised at cost and depreciated over their useful economic life other than where insufficient cost information is available. In this case, the item is not capitalised, but all items are included in the Church's inventory, which can be inspected (at any reasonable time). Improvements to the church, the Pimlico Room and the Church Hall have been capitalised and are depreciated over 50 years. Other fixtures, fittings and office equipment Fittings and equipment used within the church premises is depreciated on a straight line basis over 10 years. Office equipment is depreciated on a straight line basis over 4 years. Individual items of equipment with a purchase price of 1,000 or less are written off when the asset is acquired. Investments Investments are valued at their market value at 31 December. Current Assets Amounts owing to the PCC at 31 December in respect of fees, rents, or other income are shown as debtors less provision for amounts that may prove uncollectable. 11

12 Notes to the Accounts (continued) 2 Incoming Resources Note Unrestricted Restricted Total Total Funds Funds (a) Voluntary income Planned giving: Gift aid donations 26,066-26,066 24,146 Tax recoverable 8,975-8,975 10,424 Other 2,267-2,267 3,207 Collections at services 4,411-4,411 5,707 Other giving 12,961 2,490 15,451 10,374 54,680 2,490 57,170 53,858 2(b) 2(c) 2(d) 2(e) Activities for generating funds Fund raising 9,006-9,006 7,871 Lettings 4(a) 82,010-82,010 95,445 Income from mobile phone masts 4(b) 48,565-48,565 48, , , ,881 Investment income Interest income Income from church activities Fees for weddings and funerals , ,719 Other incoming resources Insurance receipt 25,220-25, Grant for repairs to church ,220-25, Total incoming resources 220,740 2, , ,024 12

13 Notes to the Accounts (continued) 3 Resources Expended Note Unrestricted Restricted Total Total Funds Funds (a) Church activities Common fund 5 73,000-73,000 65,000 Worship 2, ,206 3,487 Music 5,853-5,853 5,260 Clergy expenses 3,998-3,998 3,180 Salaries 6 30,658-30,658 26,925 Utilities 7,727-7,727 9,107 Cleaning 12,382-12,382 12,749 Insurance 10,059-10,059 10,265 Repairs and maintenance 33,498 9,594 43,092 13,614 Upkeep of grounds ,739 Printing, postage and stationery 5,906-5,906 6,401 Telephone and internet 2,472-2,472 1,409 Depreciation 899 9,165 10,064 10,094 Charitable giving 1, , Tower conversion - - 2,577 Other costs 4,071 1,058 5,129 1, ,730 20, , ,280 3(b) 3(c) Cost of generating funds Fund raising costs 1,489-1,489 1,648 Stewardship costs ,881-1,881 1,902 Governance costs Salaries for accounting 6 4,120-4,120 3,897 Independent examination 1,000-1,000 1,000 Accountancy services ,120-5,120 5,647 Total Resources Expended 201,731 20, , ,829 13

14 Notes to the Accounts (continued) 4(a) Lettings The income from lettings includes fees received for the hire of the church hall and the Pimlico Room and for the use of the church. During term time, the church hall is let each weekday morning and for three afternoons to the Young England Kindergarten for nine years from 16 February (b) Income from mobile phone masts In 2006, the PCC entered into contracts for twelve years with mobile phone companies for the installation of masts in the church spire. The rent is reviewed every three years. 5 Common fund The PCC makes a contribution to the Common Fund of the London Diocesan Fund to help meet the cost of providing a full time stipendiary priest including their housing and pensions. 6 Staff costs Wages and salaries 22,925 28,427 Social security costs 1,761 2,395 Temporary staff 10,092 34,778 30,822 Allocated: Church activities 30,658 26,925 Governance 4,120 3,897 34,778 30,822 During the year the PCC employed a full time office manager and a part time treasurer. Temporary staff were engaged following the resignation of the office manager and before the appointment of a new office manager. 14

15 Notes to the Accounts (continued) 7(a) Fixed Assets Unrestricted Restricted Fittings and equipment Other property improvements Other assets Church improvements Other property improvements Total Cost Brought forward 24,543 11,760 10, , , ,693 Additions Carried forward 24,543 11,760 10, , , ,693 Depreciation Brought forward (19,986) (11,760) (10,129) (66,192) (63,650) (171,717) Charge for the year (899) (3,162) (6,003) (10,064) Carried forward (20,885) (11,760) (10,129) (69,354) (69,653) (181,781) Net book value At 31 December , , , ,912 At 31 December , , , ,976 Consecrated and beneficed property is excluded from the accounts in accordance with s.10(2)(a) and (c) of the Charities Act The church building is insured for 14,675,000. The church hall is insured for 955,000. 7(b) Investments Unrestricted Restricted Funds Funds Total Market value at 1 January ,435 63,716 Revaluation gain/loss 29 6,051 6,080 Market value at 31 December ,486 69,796 Holdings at 31 December 2014: Unrestricted: 57 shares of Banco Santander SA Restricted: units of the CBF Church of England Investment Fund - Accumulation shares 8 Debtors Receivable for lettings 2,103 6,543 Other debtors 2, Prepayments and accrued income 649 3,879 5,192 10,718 15

16 Notes to the Accounts (continued) 9 Creditors Creditors 7,569 4,005 Deferred income 7,542 6,775 Accruals 1,100 3,804 16,211 14, Funds The movements on the restricted funds are: Balances Brought Forward Balances Carried Forward Incoming Resources Outgoing Resources Transfers/ Revaluation Bells 800 (692) 108 Building 379,946 (9,165) - 370,781 Charities (134) - - Flowers (486) - - Hall Development 20,110 (8,902) - 11,208 Organ 63,585-6,051 69,636 Sacristry 583 1,320 (1,116) ,224 2,740 (20,495) 6, ,520 The Bells Fund is to used for repairs and improvements to the bells. The Building Fund is available to fund major repairs and improvements to the church and hall. The Sacristy Fund is used to fund the repair, refurbishment or purchase of items used in the sacraments. The Charities Fund is used for monies given specifically for other charities. The Hall Development Fund is to be used to fund improvements to the church hall. The Organ Fund represents monies donated for the rebuilding of the organ. The funds are largely invested in CBF Church of England Investment Fund units - see note 7(b). The Flowers Fund is for monies donated for the purchase of flowers for the church. 11 Analysis of net assets by fund Unrestricted Restricted Total Total Funds Funds Tangible fixed assets 3, , , ,976 Investment fixed assets ,486 69,796 63,716 Current assets 88,374 63, , ,223 Current liabilities (16,197) (14) (16,211) (14,584) 76, , , , Payments to PCC members No payments or expenses were paid to any PCC member, persons closely connected to them or related parties. 16