PBS
Annual Report and
Finaneial Statements
For the year ended 31 Deeember 2020

Cover.
Miss Prudence Dailey, Chairman ol the Prayer Book society12006-20201, and her successor, Mr Bradley
Smith (elected September 20201, following the wedding of Miss Ernma Forw8rd. a fellow member of the
Prayer Book Society and of the General Synod, to Mr Philip Gregory MBE in October 2020.
Photo..
Mrs Erntna Joy Gr8gory

Charlty Reglstratlon No. 1099295
Company Registration No. 04786973 (England and Wales)
THE PRAYER BOOK SOCIETY
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020

THE PRAYER BOOK SOCIETY
CONTENTS
Page
statement of trustee5' ie5ponsibilities
Trustees, report
7-15
Ind8pend8nt audiioVs r8POrt
16-18
statement of financial activities
19
Balance sheet
20
Notes to the financial statements

THE PRAYER BOOK SOCIETY
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
The Revd Dr S Edmonds
The Revd A Gaunt
ThL Re¥d C M J Hancock
Mr P J Meitner
Mrl R J Milne
The Revd Dr D R Newman
Mr D A Richardson
Mr J D Riding
MsFRAR05en
Mr B F Smith
The Revd Canon RJ Svryer
(Appointed 26 S&ptember 20201
(Appointed 26 Septetnber 20201
(Appointed 16 May 20201
(Appointed 26 September 20201
IAppointed 23 February 20211
Charity number
1099295
Company number
04788973
Reglsterefl offl¢e
The s￿di0
Copyhold Fartn
Lady Grove
Goring Heath
Reading
RG8 7RT
Auditor
Richardsons
30 Upper High Street
Thame
OxFord5hire
OX9 3EZ
Banket
Lloyds Bank
Broad Street
Reading
Berkshire
RG1 28T
Solicitors
nckworth Sh8rwood LLP
16 8eauTnOnt Street
Oxford
OX12LZ
Investment adviso
Chades Stanley & Co Ltd
d501 House
10 Mount Ephraim Road
Tunbridge Vvells
Kent
TN1 1EE

THE PRAYER BOOK SOCIETY
STATEMENT OF TRUSTEES. RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEMBER 2020
The trustees. who are also the dire¢tor$ of The Prayer Book Society for the purpose of Company law. are
responsible for preparing the Trustees, Report and the financial slatem&nts in accordance with applicable law and
United Kingdom Accounting Standards (United Kingdotn Generalty Accepted Accounting Practice).
Company Law requires the tru8t8es to prep8re financial 8talement8 for each finall￿al y8ar which give a true and
fair view of the Slate of affairs of the charitable company and of the incoming resouiees and application of
resources. Including the income and expenditure. of the charitable company forthat year.
In preparing these financial ststements, the trustees are required lo..
select $uilable accounting policie$ end then appty them consi$tentty',
obsErve the methods and prinaples in the Charities SORP",
rnake judgements and 8Stimat88 that are reasonable and prud8nt',
81ale whelher applicable UK Accounting Standards have been folDwed. subject to any material departures
disclo8ed and expl8in&d in the financi81 st8temenls.' and
prepare the financial statements on the going con¢em basis unless rt is Inappropriate to presume that the
charitable company will continue in operation.
The trustees a￿ responsible for keeping adequate accounting ￿¢0[d$ that disclose with reasonable accuracy at
any time the financial positi)n of the charrtable ¢ompany and enable them to ensure that the financial Statements
comply with the Companies Act 2006. They are a180 re8ponsible for 8afeguarding the as8els of the charitable
company and hence foi taking reasonable steps foi the prevention and detection of fiaud and other irregutsiilie8.

THE PRAYER BOOK SOCIETY
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2020
The ttu$tees present their report and a¢¢ounts for the year ended 31 December 2020.
The accounts have been prepared in accordance wlh the accounting policies set out in note 1 to the accounts
and comply with the charitable company's artides of assotialion. thè CompaniÈs Ad 2006 and "Accounting and
Reporting by Charities.. Ststemenl of Recommended Practice applicable to charitie8 preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland IFRS 1021" las
amended for accounting peiiods cornrnencing from 1 January 20161
Achievements and perforrnance
The year In revlew
Very few of us will knok ba¢k on 2020 with parb¢ulaty happy memories. The terrible human sufFering wrought by
the Coronavirus p8nd8mic h88 been truly heart-breaking, and none of us has entirety escaped its devastating
effects. Al a lime of great fear and confusion, the Prayer Book Society has sought new ways of serving the
spiritual needs of its tnembers and 5UPPOrters. and of sharing rnore widety the spiritual treasure of the Book of
Common Prayer.
Imrnediatety following the announcetnent of the suspension of public worship on March 17, a directory of online
servi￿$ was ¢ompiled listing several hundred Prayer 8ook services streamed from parishes al over the country.
The directory proved to be very popular Indeed and the so￿ety received a great deal of positive feedback from
members and non-members alike.. many people got in louch lo tell us how hearing the f8miliar word5 of the
Player Book had given thern a great sense of peace and comfort during the daik days of the lockdown., others
told us they had reconnected with the traditional servlces for the fltst time in many years., some told us they had
encounte￿d the Prayer 8ook for the very first time In their lives. Happily. many cathedrals and parish churches
continue to stream their services online and the Society's directory is regularty updated.
Among the Soclety's printed resources. the Fom? ofspiritual Communion following the 8ook of Common Prayer.
a copy of which was posted to every member. was very welkreceiv&d and proved lo be particularly valuabl& at
Easter when faithful Anglicans felt most keenty their enforced detschment from the sacramental life of the
church. The Society's magazine5, The Prayer Book Today and Faith and Wot5hip, carried a range of artides,
both scholady and popular, wrrtten to sustain members. life of prayer and devotion at a time of national and
Follo￿ng the ￿SUMption of publlc worship. It was most encouraging to hear ￿pOrtS of new Prayer Book services
belng introduced in a variety of contexts across the country. as well as of a number of creative 8CP-ba$ed
initiatives 188ding lo growth, both num8ric81 and spiritU81, in local church cornmunili8s. In some plae8S, the BCP
now has a more prominent place in regular patteins of worship as a iesult of the pandemic. 11 is especialty
en¢ouraging lo note that many of these new services and initialivos are being by young and re¢&ntty
ordained d&rgy who are confident in the Pr8yer 8ook tradition and want lo see il thrive In the futu￿. Qur worf¢
with ordinands and training institutions 18 of vital importance, as indeed is our engagement with children and
young people.
Needless to say, Covid-19 restiictions kd to the canc&llation of almost all national and lor21 PBS gathering8,
including the annual r8sidential conferenc8. This was a huge, yet in8vit8ble, disappointtnent, not ￿&st b8cause it
would have been Prudence Oailey 5 final conference after fourteen outstanding years as chaiman of the Sooety.
Owing to Ihe extension of Covid-19 restridions and COn￿rn$ about rising infection rates. Liverpool Hope
University made the decision to cancel all 2021 bookings., th& next residential conference is therefore planned for
8 to 10 September 2022 when the therne, carried over from 2020, will be'AII Sorts and Conditions.
The National Finals of the Cranmer Awards were due to be held In Wor¢esler In February 2020. This wa$ the
one national event which was not cancelled as a result of the pandemic.. sadty, extreme flooding in Worcester
eant the Fina15 had to be cancelled at very short notice. Rising infection rates in the earty part of 2021
resulted In a third national lockdown, $0 the event. organised with great care end attention lo detail by Mrs Jo
Clark, took place online via Zoom. It 18 encouraging to hear that branches ar& now planning regional heats for the
autumn of 2021.

THE PRAYER BOOK SOCIETY
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
The So¢iety'$ day ¢onference, In Time of Plague or Sickness, held online in September 2020 was very
successful and attracted a large audience, including many non-members and an encouraging number of
ordinands and young adult5. In addition to detailed theological and historical refiection, the conference also
provided an opportunity for the sharing of positive stories of growth and fresh engagement with the Prayer 8ook
emerging from parishes all over the country.
Later in the year. on the eve of Advent Sunday. another onlSne semlnar was held. Thy King Cometh.. A Prayer
Book Advenf proved lo be an inspiring afternoon of wor8hip. leaching and reflection based on the four Advent
Collects. Again, th8 S8min8r attracted participants from all over the worfd and generaled a great deal of positive
feedback as well as a flurry of applications for membership.
Whilst we very much look forward to the resumption of in-p&r8on events 8nd activities in the year ahead
(including the annual commemoration of the martyrdom of Thomas Cranmer and the Peter Toon Memorial
Lecture. both held in Oxford). online meetings and seminars will continue to have a place in future national and
bran¢h activity.
Greater use of social rnedi3 during the year, and especialty during the two bckdowns of 2020, enabled the
Society to Sha￿ a positive message on an almost daity basis and also generated a positwe increase in sales of
books and other resources fvom the online shop. The Trustees are keen to use the PBS website and social
m8dia to maxirnum potential in the future 81ongside more traditional forms of communication. Thank8 to the
dedicated efforts of our PR consuttant, Tim Stanley, the Sooety's activities and achievernents featured in both
the ecclesiastical and secular press during the year.
None of the SO￿ety's activities during the difficult days of 2020 would have been possible withoLrt Ihe dedication,
loyalty and comrnitment of its 51aff and volunteers who a5Si51 acr05S the whole spectrurn of PBS actwity
Including the Cranmer Awards. PBS publicats"on$, the Annual Conference, advertising and online research. The
contributs.on of each and every one is truty valued and appreciated.
Looklng to the
Th8 Prayer Book Soci8ty hss a numb8r of vary exuting pioj8Cts planned for th8 n8Xt coup18 of years including..
'Pr8y8rBooks for Piison8rs' lan initiative begun in 2019 but d8l£yed due to Covid-191,
'Prayer 8ooks for Chonsters, lan ambitious new initiative with the aim ol p￿sentIng a special edition of
the BCP togetherwith a lea¢hing guide to every junior chorister In the countryl,
schola15hips for ordinands.
a major rebranding exerose ahead of the fiftieth anniversary of the Society in 2022.
new publications and training resources,
the funding of a part-time Prayer Book Missioner lil is very much hoped that this proposal. first mooted
in 2016, will come to fruition in 20221,
and so much more as we work towards our2030 Vision." ￿￿pIe of all ages fjndino lile irt Ghnst through a growing
PrayerBook s8rvic8 Il) 8V8ryb8n8fic8.
The Society's Churches and Ministry Cotnmittee ha5 particular re5ponsibilty for the impletnentation of the 2030
Vision and is planning a 'round labl&' discussion wth clergy and laity from parishès and other institutions where
there 8re positive signs of growth 81 Prayer Book worship. The aim of the discussion, and the questionnaire
which will Pre￿de it, 15 to identify principles which can be applied elsewhere. Long-terms goals will include
greater use of the BCP for Sunday 5etvice5 at key tirnes lie. for principal Servi￿5, and not just earty morning
Communions and Evensong) and for the occasional offices.
Additionalty, a new cotntnittree is being formed to develop a strategy for engagement wth children, youth and
young adulls. Th& nÈw committee will work closety with the Cranmer Awards and Churchès and Minislry
committee8.' its remit will include producing good quality catechetical resources and engagement with church
choirs and Church of England schools on a national and local level.

THE PRAYER BOOK SOCIETY
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
Over the coming months. the tru$tee$ will be working dosety wrth the Church of England's liturgical and
communications teams, and Ihere 18 hope of collaboration over resources to mark Her Majesty Ihe Queen's
Platinum Jubilee in 2022.
A special service of thanksgiving to mark the fffti8th anniversary of the Pr8yer Book Society will be held at
Westminster Abbey on Saturday. 8 Odober 2022 when the celebrant and preachei will be the Society's
Ecclesiastical Patron. Lord Chartres. In 8ddition to a celebration of Holy Communion. the day wil Indude an
anniversary lecture and Choral Evensong.
In these difficult day5 of the pandernic, the Prayer Book ha5 Spoken with fresh clarity and aulhority many
have di8cov&red it8 spiritual power and beauty. More than any other liturgy. the Prayer Book helps us to root our
lives in Jesus Christ and to claim the life He freety off&r8. There 18 Still 8 great deal of work lo be done, and
in an ever-changing world (not to rnention an ever-chan9ing church) the work of our Society is now more
important than ever. The time is ripe for us to rescue the Prayer Book from the margins and resto￿ it to its
rightful place al the heart of the Church of England.
Activities for the year
Annu81 Conf8r8ntre
Travel restiictions in force in the auturnn of 2020 meant that it was not possible for the Society to hold its
customary residential ¢onferen¢e. Instead. an online Confe￿nce was held on Saturday 5 September. Entitled
In lime ofplague orsi¢kness il included P￿SentatIOnS frDm three speakers.
Professor Philip Wiliamson. Professor of Modern British History at the University of Durham. who Spoke
on 'The Prayer Book and Pand&mic8
The Revd Dr Matthew Olver, A5SiStant Professor of Liturgics and Pastorsl Theology at Nashotah House
Theok)gi¢al Seminary in the USA, who spoke on 'Divine Visitation." The Prayer Book's Theology of
Sicknes8 and Plague.
Bradley Smith was responsible for the third presentation. He spoke on 'Comfortable Words for Troubled
Tim&s". The Use of the Prayer Book during Ihe CDronavirus Pandemi¢'. This session also included guest
ap￿aranCe$ by the Revd Arwen Folkes from the Diocese of Chichester. who had led online services
frorn the Prayer Book., from the Revd Olivei Coss from Northarnpton. whose young people'5 choir had
continued to sing Choral Evensong online,. and from Calwn Robin50n, founder of the website
. Whe￿ the Prayer Book daity offices are ￿ad aloud each day.
The conference concluded wth Evening Player, led by the Revd Dr Daniel Newrnan frorn the Tudoi Chapel at
The Vyne in Sherboine St John, Hampshire.
Annual G8n8ral M88ting
The AGM was held online on Saturday 26 September. In addition to receiving the Annual Report and Accounts
for the year ended 31 December 2019. the AGM approved the adoption of new Articles lo govem the So¢iety.
The most significant change arising therefrom was a reduction in the size of the Board of Trustees from fifteen
Ichairtnan, seve￿ Ordi￿ary Trustees", seven Region31 Trustee51 to eleven (chai￿an and ten Trustee5 elected
by the AGMI.
Prudence Dailey retired from office as Chaim18n. after fourteen years. 8ervice. Bradley Smith was elected as her
succes50r. Members attending the AGM were pleased to learn that, 'in recognition of her tnany years of diligent
and enthusiastic service as Chairman and of her sustain&d and continuing commitment to the Book of Common
Prayerf. the Board had appointed Miss Dailey a Vice President of the Prayer Book Society.
Fundraising
The Board of Trustee5 record5 its Ihank5 for the continuing support of its 8enefactors Irnernbers who give £500
or more p.a.l. It w88 unfortunately not POS8ible. in the ex(￿pIlOnaI eircumstsnces of 2020. to follow the
CU8tomary practice of inviting them to 8 Pr8y&r Book service and holding 8 reception for them.

THE PRAYER BOOK SOCIETY
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
Llnk$ wlth ¢leryy, lay mlnl$¢ers, parl$he$ and TE
Report by John Service, the Churches and Clergy Coordinator..
Ordinands
Every year. packs containing a red pew edition of the Book of Common Prayer. with a glossary therein of words
which have slightty attered their tneaning in rnodern day usage and a copy of 'Using the Book of Common
Prayerf by the Revd Paul Thomas, together with other BCP material and an invrtation letter from the Chairman
offering free membership of the Society, are given to every new ordinand entering training. Cuiientty 110
ordinands have acc8Pted thi8 offer of free memb8rship. The cost per pack to the Society is just over £20.00.
In 2020. 757 BCP packs were presented to new ordinands Èntering training at the 25 Theological Colleges and
NO￿￿eSidential Courses. There is no central oversight of them in terms of numbers of new students so I have to
liaise with each College and Course individualty. Col￿ge$ and Courses are always eXt￿mety grateful. as are
the new ordinands themsefves. for the Society'5 gifts
TEls visited
l aitn to Vi51t each College and Course every Iwo to Ihree years. Despite the Covid restrictions in 2020 1 visited
the following.
St Stephen's Hou8e, Oxford, 9 September
Eastem Region Ministry Course, Carnbridge, 30 October
RSdley Hall. CaTnbridge, 30 October
South West Ministry Training Course, Exeter, 12 November
Trinity College, Bristol. 17 November
st Augustine'5 College. West Malling. Canterbury, 19 Novembei
Westcott House, cambr￿ge, 30 October
Sl Mellilus South Kensington, London. 23 November
Oak Hill, Southgate. London, 24 Novembei
Sarutn College, Salisbury, 24 Novetnber
Co￿Orate membe￿ 8ndpotential Coryor8te membe￿ visited
I visit as many Corporate Members as possible and despite the Covid ie5trictions in 2020. 1 visited the following..
Christ Church, Bristol. 8 February
All Saints, Lockinge Ioxfordl 6 March
st Giles in the Fle￿5 (London), 7 Juty
St Giles in the Fle￿9 (London). 20 July
St Anne, Toltington (Manchester) 1 August
St Giles in the Fle￿& ILondonl 4 August
st Nicholas. Remenham IOxfDrdl 14 August
St Mary Abbots ILondonl 2 September
St Giles in the Fle￿8 (London) 3 September
10

THE PRAYER BOOK SOCIETY
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
Re¢rultment olnew cgtporate members
The following parishes becatne corporate tnetnbers of the Society during the year".
St Peter and Vincula, Folkington (Chichester East)
Chri51 Church wrth St Ewen, Al Saints & St George IBiist¢Jl)
St Adwena. Advent (Trurol
All Saints, Lockinge (Gift) Ioxfordl
Holy Trinty. Ardington IGiftl (Oxford)
Michael the Archangel. Sh3Meet (Wnchester & PortsfnDUthl
St Adeline, Little Sodbury18ristoll
St Augustin& of C8nterbury, East Hendred (Gift) (Oxford)
St George, Crowhurst Ichichester East)
st John of Bevertey, Vvhatlon Isouthwell & Nottinghaml
St Lauren¢e'$. Ludlow (Hereford)
St Margaret of Antioch (Oxford)
St Mary the Virgin, Bamham Ichicheslerwestl
st Mary the Virgin, Battle IChirhe51er East)
St Mary's Priory Church. Old Malton IYorf¢l
St ma￿8, Stopham IChiche8ter Westl
St Mary, Kings Pyon (Hereford)
st Michael's. Garton4n-Holdemess Iyorkl
St Paul$, Craig y Don, Llandudno (North Wales)
Bolton Priory IL8edsl
St Marylebone with Holy Trinty, Sl Marylebone (London & Southwarkl
st Pete¢5, WaltOn-Qn-the-Hill IGuildfordl
Church of the Ascension. TÈlham IChiche8ter E88ti
St Mary the Virgin, Headley with St Andrew, Box Hill IGuildfordl
st Anne, Tottington IManche5terl
Reports Irom btxnches and corporate membws
The initiative of branches and corporate members in the eX￿ptional circumstsnces of 2020 is exemplified in the
following two reports".
Report from Valerie Migh811 of the ChichesterE8St Branch..
In February 2020 the Branch hekl a Sung Prayer Book Communion service at the chureh of Sl George's in
Crowhurst lo rnark the eve of the Presentation of Christ in the Temple. The Servi￿ was very well attended and
was folowed by a lea In the parish room. Sad￿. the Branch had lo tancel all other proposed events due to
Covid restrictions. but in Octobei they did hold a small quiet day, fOlkn￿ng all Covid guideline5, which was led by
the Revd. Christopher Channer. who gave three addresses on the nature of God. Hoty Communion was
celebrated and the day concluded with Evening Prayer.
Report from the Revd Hugh 88arn at St. Anne's Church. Tothngton."
The Church has irnpletnented from the ouiset the tn05t vigorous 5yStetn so as to be able to rernain available and
accessible. with ¢ontract ¢le8ning ¢8rried out once a week. In addition. a Risk Assessment group met
throughout in order lo ￿e￿phe[gUldan￿ and pioduce Risk Assessments for every conceivable servi￿,
sanitizing, track and tiace, etc.. which were regularfy updated on the Parish website and integrated email chain.
The Church Officers worked extremely hard and when possible there were soloists and. again when possible, a
reduced Choir. Consequentty. prayers were said daily In Church alongside the provision of pastoral care.

THE PRAYER BOOK SOCIETY
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED}
FOR THE YEAR ENDED 31 DECEMBER 2020
No services We￿ streamed and due to this meticulous following of guidance. it was possible to undertake the
following..
BCP HO￿ Communion in Church every Sunday al 8.00 a.m. as well as multiple services of HO￿ Communion
which were celebrated at other tirn88 to get everybody through, and also 8ervic88 for Remembrance took place.
including th8 Roll of th8 Fa118n in th8 Evening, with a Highland Piper and Last Post playèj outsid8 the Church. A
BCP se[Vi￿ of Hoty Matrirnony was 501emnized in Decernber.
In addition. at St Anselm Hal Chap81 in the Universty of Manchester. in consullation with the University and
following al guidan￿ and estsblishing a Covid-safe envirOn￿ENt, Evening Prdyer was said throughout the year
every Tuesday evening in te[rn-￿'1ne at 7.00 p.m. Undergraduates frorn variou5 places attended lin gownsl and
when It was posslble, the two PBS Choral S¢holars sang some truly beautfful Talze chants at varfous poSnts.
Remembrance was also marked and a Christmas rarol servir* (PBS Scholars again), ￿th Nacht, tha¢ was
much appreciat8d by kn G￿rn￿n gendem8n.
Flnanclal revlew
The Statement of Flnancial Activities shows total incomSng resources of £210,032 12019". £299,079) and total
resources expended of £230.31412019.' £282,184), ￿Su111n9 in net outgoing resources of £20.282 12019.. net
incorning resourr£s of £16,895). The loss in the value of our investments was £499 12019.. gain of
£138,662). Overall there was a net decrease in funds of £20,781 12019.. increase of £155,557). The Board
considers the 2020 results to be acceplabk. The deficAt on centralty controlled activities was £34,889
lagalnst a budgeted deficlt of £111.2551, whlch was partSaMy covered by legacy Income of £14.607. The Board
felt abl8 to set a d8ficil budgel of É105,835 for 2021.
As 8t 31 December 2020 the Society'sunre$tricted ieseNes stwd at£857,68212019.. £889,115>.
111 R88erv88 Pollcy
Certain sources of income. notabty legacies and donations are not. by their nature, predictable and so reserves
are necessary to allow the charity to continue its work should th8se sources fall significant￿.
Furthe[rn￿, it 15 the policy of the Society that, geneialty and in most years, fixed overheads are intended to be
met out ol ordinary income. Extraordinary income is to be used to accumulate reserves and to fund speual
projects as detemiined from time to time expressly ty the Board to further the objects of the Society.
It is the Trust8es' int8ntion to review both th8 re8er¥es policy and 18vel8 of unrestricted reserv88 on an annual
basis.
1111 Investment Pollcy
From tirne to tirne, when the Society has surplus rnonies available, investrnent may be made in accordance with
the followlng general guSdellnes. The Trustees ￿COgnISe that the Investment pro￿$ ￿11 be In keeping wlth the
Objects of the charlty and the Chrfstian witness and values of its members.
In detemiining risk, the Trustees acc8Pt the dictum of there b8ing no reward without risk and ar8 furth8r mindfijl
that market condth'on5 dictate the prudent level of risk that IS appropriate 81 a gwen ￿Int in time.
11111 Grant Maklng Pollcy
The Society from tirne to tsme awards gran¢8 and bur3arie8 for clearly defined and $￿ified purposes, induding
attendarKe at the Annual Conference and tuition fee5 for organist54n-training who are leaming to play for Prayef
Book serwces, on the basis that such grants help to prorrK)te the understanding and use of the Book of Common
Prayer. Grants are awarded through open applicats"on, and a￿ not ￿$trIcted to w*mbers of the Society.
12

THE PRAYER BOOK SOCIETY
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2020
Rl3k managam8nt
The Directots of the charitsble company, who are also the Charity's Trustees. acknovAedge their ￿SponsIbl11ty for
reviewng Ihe risks to which the Charitable Company i8 exposed including financial, operational, and reputation
risks 8né forestablishing proCedU￿S to monitol 8né control these risks.
At Ih8 year 8nd, th8 Trustee5 had in hand a reviw of policies.
Stru¢tyre, governance and management
Th8 Prayer Book Soci8ty is establish8d forth8 8dvanc8rn8nt of th8 Christian religion as set forth in the Book of
Common Prayer," and. in Yurtherance of this Object, for the promotion of the worship and doctrine enshrined in the
Book of Common Preyer and Its use for services. teaching and trainlng throughout the Church of England and
Olher Churches in the Anglican tradrtion.
The Society is a Company regISte￿d In England, and a Charfty registered in England and in the Isle of Man. It
was frimed in 2003 to tske over the net assets of the unincorporated twst'The Prayer Book Society" IRegister8d
Charity numb8r 10017831. The Soci8ty is curr8ndy governed by Artides approved atth8 Annual G8n8r81 IAeeting
held on 26 September2020.
Honoraryofficors
The Prayer Book Society Is prtvileged to have HRH The Prince of Wales as ils Patron and the Rt Revd and Rt
Hon Rid)ard Chartres IBSshop of London to 28th February 20171, as Ecclesiastlcal Patron.
In addibon, we are gratefvl ¢0 the following Honorary Officers for lending their name and their support to thg
Soci8ty'.
Presiclent..
Tha Lord Cormack DL, FSA
Vicg-PTrsidents.'
The Revd Dr R.T. Be¢￿th
Mlss Pruden￿ Dalley (from 26 September20201
The Rt. Hon. Lord Field of Birkenh88d DL PC
The Rt. Hon. Lord Hurd ofweshvell CH, CBE, PC
Mr Ne51 J. Inkley.
Mr C.A Anthony Kilmister OBE
Th9 Lord Sudel8y F.SA
13-

THE PRAYER BOOK SOCIETY
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
Tru$tee$
Trnsle8s seftving in th8 calend8ry88r2020
The following held office for the period ended 26 September 2020..
Miss Pruden￿ Dailey Ichairtnanl
Mr David Richardson (Deputy Chaimian and Honorary Director of Fundraising. Ordinary Trustee)
Mr Paul Meitner (Honorary Tre88urer and South East Regional Trustee)
Miss Hilary Rudge (to 12 Maich 2020." Ordinary Trustee & Company Secretsry until that dale)
Mrs Fi Rosen Ifrom 30 April 2020." Ordinary Trustee & Company Secretary frotn that datel
The Revd Dr Stephen Edmonds (Ordinary Twsteel
Mr Peter H8rdingham (Midlands Regional Truste&l
Mr Nicholas Hurst Iordinary Trusteel
Mr lain Milne (Ordinary Twsteel
The Revd Dr Daniel Newman (Ordinary Twsteel
Mr Jon Riding (Ordinary Trusleel
The Revd Canon Cyril Roberts (to 19 February 2020." North East Regional Trustee)
Mr John Scrivener (Ordinary Tru51eel
Mr Richard VIAlkinson CVO (South West Regional Trustee)
Note.. The office of West & Central Regional Trustee had been unfilled since the AGM in 2017. and that of
Eastem Regional Trustee had been unfilled Sin￿ the AGM of 2018.
The following weie elected to serve foi the period from 28 September 2020..
The st8ndard term of office under the new Article8 is one of four years. In accordance. however, wrth the
transitional arrangements required under these Articles, certain of the Trustees will Serve for a period ending at
the Annual General Meeting in the year indicated after their natne..
Mr Bradley Smith Ichairmanl
Mr David Richardson (Deputy Chairman and Honorary Directoi of Fundraisingl120211
Mr Paul Meitner IHonorary Treasurer)
Mrs Fi Rosen (Company se¢￿tary){2023I
The Revd Dr Stephen Edmond8120211
The Revd Adam Gaunt120211
Mrs Kathryn King120221
The Revd Christopher Hancock120231
Mr lain Milne120221
The Revd Dr Daniel Newrnan120231
Mr Jon Riding
Staff and volunteerat CopyholdFarn7
The Prayer 8ook Society employs five slaft. based at the So¢iety'$ office at Copyhold Fami. Goring Heath. near
Reading. It is grateful for their dedication and enthu818sm'.
Adrienne Syrètt (Office Manager)., Belind8 Clarke Ibookkeepety., Geri Brooksbank (general and financial
admini8trstionl,' Gemms Thatcher (general sdministrationl
John Service (Churches & Clergy Coordinator)
The Society rel￿rdS thanks also to a volunte8r, Terry Furfong8r, for regular assi5tanc8 in th8 office.
14

THE PRAYER BOOK SOCIETY
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) {CONTINUED>
FOR THE YEAR ENDED 31 DECEMBER 2020
Commlttees ofthe Bogrd
The Board has establisheé the folowSng commlttees".
Committee
nnual Conference
hurches & Minisl
ommunicalions
ranmer Awards
Finance & Fundraising
Nominations
radin
Ghainnan duri
2020
Prudence Daile
then David Richardson
David Richardson, then Daniel Newman
Prudence Dailey, then Bradley Smith
Hilary Rudge, then Jon Riding
Paul Meitner
David Richardson, then lain Milne
Paul Meitner
so. the Board has the assistance of the Executfve Group Icomprfslng the Chalmian, Deputy Chalm)an,
Honorary T￿asUrer, Company se￿tsry. Churches & Clergy Coordinator and Offi￿ Manager).
Brnnches and coqjorate members
The So¢th ha$ 34 bran¢hes. 222 indivlduals joined the Society during 2020. The Bran¢he$' Repre$entstive
Council IBRCI normal￿ r(Eets ￿lICe a yearto enabk branch representatNes to discuss matters of cornmon
interest, and to raise these wth the Board of Ttustees. One of these meetings indudes a joint session with the
Board, while the other meeting is attended by a number of represenlats.ve Trustees. The BRC Is chaired by the
Revd Lee Potter, and the Secretary is Christopher Norton. Unfortunately, no meeting of Ihe BRC could be held
In 2020.
The SocEty h85 134 corporate members, induding the 25 new rnembers listed on p8ge 6 above.
The Board of Ttustee5 has designated three of ts nurnber (Paul Meitner, lain Milne and Fi R05enl as having
particular ￿$￿nSibIlfy for maintaining links with branches and corporate members. The first issue of a
Yea￿ newsletter for corporate members and branches, Copyhold, was ¢istrfbuted in the autumn of 2020 and Ihe
second was to follow in April 2021.
Auditor
In accordance wth the wmpany's artides, a resolution proposing that Rthardsons be reappointed as auditor of
the company wll be put at 8 General M88ting.
The trustses, report was approved by the Board ofTru$tees ￿ 3 August 2021.
Mr B F Smith
Trustee
Dated.. 4 August 2021

THE PRAYER BOOK SOCIETY
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF THE PRAYER BOOK SOCIETY
Oplnlon
We have audited the financi81 statements of The Prayer Book Society Ithe 'charit8ble company'l for the year ended
31 Decetnbei 2020 which comprise the statement of financial activitie5, the balan￿ Sheet and the notes to the
financial ststemenls. induding significant acwunting wli¢ies. The financial reporting framework that has been
applied in their preparation Is applicable law and United Kingdom Accounting Stand8rd8, induding FRS 102 The
Financial Reporting Stsndard applicable in the UK and Republic of Ireland (United Kingdom Generalty AC￿pted
Accounting Practicel.
In our opinion, the financial statements..
give a true and fair view of the stsle of the charitable company's affairs as at 31 De¢ember 2020 and of its
incoming resources and application of resources. for the year then endèd.,
have been prope￿ prepared in accordance with United Kingdom Generalty Accepted Accounting Practice,.
and
have been prepared in accordance ￿1th the requirement5 of the Companies Act 2006.
88Si8 lor opinion
We conducted our audit in accordan￿ with Intemalional Standards on Auditing IUK) IISAS (UK)) and applicable
law. Our responsibilities under those standards are ￿rther described in the Auditor's respon8ibilili&s for the audit of
the financial statements section of our report. We are independent Df the charitable company in 8ccordanc& with the
ethical requirements that are relevant to our audit of the financial slalement5 in the UK. including the FRC'S Ethical
standard. and we have fU￿illed our other ethical responsibilities in accordance with these regul￿mentS. We believe
that the 8udit evidence we have obtsined is sufficient and appropriate lo provide a b88is for our opinion.
Conclusions relating to going concern
In auditing th8 financial statements, we have concluded that th& trustees. use of th8 going conc8m basis of
accounting in the preparation of the fin8ncial stst&ments is appropriate.
Based on the work we have performed. we have not Idenlifled any materfal uncertaintles ￿latIng to events or
conditions that, individually ￿ eollectivety, may c8St 8ignificanl doubt on the charitable company's ability to continue
as a going concern foi a p&riod of at least twelv? months from when the financial statements are authoiised for
issue.
Our re8ponsibilities and the respon8ibilities of the trustees with respect to going concern are deseribed in the
relevant sections of this report.
Other Infomatlon
The other infortnation comprises the inforrnation induded in the annual report other than the financial 5talernents
and our audito¢s report Ihereon. The trustees are responsible for the other infomalion contained within Ihe annual
report. Our opinion on the financial 8tatement8 does not cover the other information and we do not express any
form of assurance conclusion theieon. Our responsibilty is to lead the other information and, in doing so, consider
whether the other information is materially inconsistent with the financial statements or our knowledge obtained in
the course of the audrt. or otherwise appears to be materially misstated. If we identify such material Inconsistencies
or apparent material misslalements, we are required lo determine whether thi8 gives rise lo a mat&rial misstat8m8nt
in the financial statements Ihemselves. If, based on the work we hav8 perforrned, w8 conclud8 that there is s
material mi551atement of this other inforrn3tion, we are required lo report that fact.
We have nothing to report in this regard.
16-

THE PRAYER BOOK SOCIETY
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF THE PRAYER BOOK SOCIETY
Matters on whlch we are requlred to report by exceptlon
We have nothing to report in respect of the following matter5 in relation to which the Charitie5 IAccount5 and
Reportsl Regulations 2008 reouSre us to report to you if. in our oplnlon..
the information given in the financial statetnents is inconsistent in any rnaterial re$ped wth the trustees,
r8POrt'. or
sufficient accounting r8cords have not been k8Pt', or
the financial stalernent5 are not in agieetnenl with the accounting records," 01
we have not received all the Information and explanations we require for our 8udit.
Respon$lbllltle$ of trustee$
As explained more fully in the statement of trustees, responsibilities, the trustees, who are also the directors of the
charitable company for the purpose of company law, are responsible for the preparation of the financial 5tatementS
and for being satisfied that they give a tru& 2nd fair view. and fDr such internal control as thÈ trustees detemiine is
necessary lo enable the preparation of financial 8talements th8t are free from material misstatement. whether due
to fraud 01 erioi. In preparing the financial statements, the trustees are responsible for assessing the charitsble
company s ability to continue as a going ¢on¢ein. disdosing, as applicable. matters related to going concem and
using the going ¢oncem basis of a¢¢ounting unless the trustees either intend lo liquidate the ¢harilable company or
to cease operations, or h8ve no realistic altemative but to do so.
Audltor'$ re$pon$lbllltfie$ for the audlt of the flnan¢lal $tstsments
We have been appointed as audrtor under Section 144 of the Charitie5 Ad 2011 and report in accoidance with the
Aci and relevant regulations made or having efte¢t Ihereunder.
Our DbjectiVe8 are to obtain r8880nable assurance about whether the financial statements as 8 whole ar8 free from
material misstatement, whelhei due to traud or error. and to issue an auditovs report that includes our opinion.
Reasonable assuon¢e is a high level of Jssuran¢e bul is not a guarantee that an 3udil Conducted in acwrdan¢e
wrth ISAS IUKI will always detect a material misslalement when it exists. Misslalemenls can arise from fraud or
error and 8re considered material if, individualty or in the aggregate, they could reasonabty b& exp8Cted to influence
the economic decisions of users taken on the basi5 of these financial staternents.
Irregularities. including fraud. are in81ance8 of non-compli8nce with law8 and regul8tion8. We design procedure8 in
line with our responsibilities. oullined above, to detect material misstatements in respect of irregularities, including
fraud. The extent to which our piotsdures ale Capable of detecting irregularities, including fraud, is detailed below.
Enquiry of tnanagernent and those Charged with governance around actual and potential litigation and
claims.
Enquiry of the charity's staff in tax and complisnce functions to identify any instance8 of non-compliance
with laws and iegulations.
Reviewing minutes of meetings of those charged with governance.
Reviewing financial statement disclosures and testing to supporting documentation to assess compliance
with applicable laws and regulations.
Auditing the risk of rnansgement override of controls, including through testing journal entries and other
adjustment5 foi appropriateness. and evaluating the bu5ine55 rationale of Significant tian5actions outside
the normal Course of business.
A further de5¢ription of our responsibilities 15 available on the Financial Reporting Council's website at..
htWs."Ilww.frc.org.uklauditotsresponsibililies. This description forms parl of our audilorfs report.

THE PRAYER BOOK SOCIETY
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
Tn THF TPI IRTEES OF THE PRAYER BOOK SOCIETY
RIC￿l1rds￿r3
3 Au￿ust 2021
Chartertd Aeeountants
Statutory Audltor
30 Upper High Street
Thame
Oxfordshire
OX9 3EZ
Richardsons is eligible foi appointtnent as auditor of the charitgble cotnpany by virtue of its eligibility for
appolntment as auditor of a company under of se¢tion 1212 of the Companle$ Act 20N.
18-

THE PRAYER BOOK SOCIETY
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2020
Unr8stricted Rastricted
funds
fund$
2020
2020
Total
Total
2020
2019
Notes
neomè and èndowmèn
Donations and legaa8s
Charitable actiwlies
Other trading activities
Investments
Other income
158,687
1,885
21,744
18,756
936
500
159,187
1,885
21,744
28,280
936
237,227
17,912
13,469
30,471
7,524
Totsl income
202,008
8.024
210,032
299,079
enditure o
Raising funds
29,589
2,561
32,150
37,830
Charitable activities
194,233
3,931
198,164
244,354
Totsl rnsour¢•s •xpend•d
223,822
6,492
230,314
282,184
Net g8insl{lossesl on investments
13
19,6191
9,120
1499}
138,662
Net movement in fund$
131,4331
10,652
120,781}
155,557
Fund balances at 1 January 2020
889,115
369,739 1,258,854 1,103,297
Fund b•lgnces #t 31 December 2020
857,682
380,391
1,238,073 1,258,854
The slalemenl of financaal activities indude8 811 g8ins and losses recognise¢J in the year.
All income and exFenditure derive from continuing actiwties.
Th8 stalèmenl of financial actiwli8s also complias wf(h thè rèquirements for an incomè and 8xpèndf(ur8 account
under the Companies Act 20(￿.
19_

THE PRAYER BOOK SOCIETY
BALANCE SHEET
AS AT 31 DECEMBER 2020
2020
2019
Not88
Flxed a888ts
Tangible assets
Inv8Stm8nts
14
15
2.697
1,100,932
3.289
1,095,5
1,103,629
1,098,879
Current as88t8
Stocks
Debtors
Cash at l)ank and Sn hand
18
17
8,238
13,228
122,218
10,236
1,923
178,938
143,684
189,097
Cr8ditora= amounts falllng due wlthln
ono year
18
19,2401
129,1221
Net current assets
134,444
159,975
Totsl a$$ets less ¢urTrn¢ Ilablll¢l?$
1,238,073
1,258,854
Income funds
Resthcted funds
Unrestricted funds
380,391
857.e82
369,739
889.115
1.228.073
1.258.854
The company is entitkd to the exemption from the audit requirement fA)ntained in section 477 of the Companies
Act 2006, for the year ended 31 December 2020, although an audit has been carried oul under section 144 of the
Charities Act 2011.
The directors acknowledge their responsibilities for ensuring that the charity keeps accounting records whlch
Comp￿ with section 386 of the Act and for prepariry financial stskments which gNe a true and fair view of the stste
of affairs of the company as at the end of the financial y88r and of its incoming r88ourc8s and application of
resources, including ils income and expenditure, foi the financkql year in accoidance with the requirernents of
sections 394 and 395 ant1 which otheMse compty ￿th the ￿QuI￿rnents of the Companies Act 2006 ￿lating to
finanrial ststements, so far as applicable lo the Company.
The members have not ￿qUI￿d the company to obtain an audit of its financial statements under the ￿qui￿￿ntS
of the Companies Ad 2006, forthe year in question in accordance with section 476.
These financial statements have been prepared in 8ccordan￿ with the provisions applicable to companies sutiiect
to the srnall compani8s regime.
The finan￿￿1 5taternents were approved by the Trustees on 3 August 2021
Mr P J Meitner
Trustee
Mr B F Smith
TrL
Company Reglstrntlon No. 04786973
-20-

THE PRAYER BOOK SOCIETY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
Ac¢ountlng poll¢les
Charity infomiation
The Prayer Book Society 18 8 private comp8ny Iimrted by guarantee incorporated in England snd Wales. The
registered Offi￿ 15 The Studio, Copyhold Farm, Lady Grove, Goring Heath, Reading, RG8 7RT.
1.1 Accountlng conventlon
The accounts have been prepared in accordance with the Charitable company's Articles, the Companies Act
2006 and "A¢¢ounting and Reporting by Charities.. Ststement of Recommended Pra¢ti¢e applicable to
charities preparing their accounts in accordance with th& Financial Reporbng Standard applicable In the UK
and Republic of Ireland IFRS 1021. las arnended for accounting periods comrnencing frotn 1 January 20161.
The charitable cotnpany 15 a Public Benelil Entity a5 definEd by FRS 102.
Th8 charitable company has taken advantage of the provisions in the SORP for charities applying FRS 102
Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in steding. which is the functional currency of the charitsble company.
Monetary amounts In these financial ststements are rounded lo the neare$l £.
The financial slalements have been prepared under the historical cost mnvention, modified lo include the
revaluation of freehold properties 8nd to include investment properties and certain financial instruments at fair
value. The principal accounting policies adopted are set out below.
1.2 Going concern
At th8 time of approving the financial statements, the trust888 have a reasonable exp&ctalion that the
charitable cotnpany has adequate resoUr￿S lo continue in operational existen￿ for the foieseeable future.
Thu5 the trustee5 continue to adopt the going concern basis of accounting in preparing the financial
slalements.
1.3 Charitable funds
un￿strICted funds are available for use at the di$¢retyon of the twstees in furtherance of their charitable
objectwes.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purpose$ and
uses of the ￿$tricted funds are set out in the notes lo the finan¢ial statements.
Endowrnent funds ale subject to 5pectfic conditions by donors that Ihe capital rnust be maintained by the
¢haritable ¢ompany.
1.4 Income
Incorne is ￿¢09n1$e￿ hvhen the eharitable Company is legalty entilkd to il after any perf0mlan￿ ￿n(jit10n$
have been mel. the arN)unts Can be MeaSu￿d ￿lIablY. and rt is probable that income wll be received.
Cash donations are recogni5ed on re￿IPt. (Xher donations are recognised ontt the charitsble company ha5
been notified of the donation. unless perfomiance conditions require deferral of the amount. Income lax
recoverable in re18tion lo donations received under Gift Aid or deed8 of ¢ovenant 1$ recogni$ed al the time of
the donation.
Legacies are recognised on receipt or otherwise if the charitable company has been notified of an Impending
distribution. the 8mount is known, and re¢eipt 1$ expected. If the amount 1$ not known. the legaw 1$ treated a$
a contingent asset.
21

THE PRAYER BOOK SOCIETY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
Ac¢ountlng poll¢les
1.S Expenditure
Resources 8xp8nd8d are 8nalys8d between th8 Costs of raising funds and charit8bl8 activities, Costs are
allocated belween these categoiies on an actual basis where possible. Othei costs ale apportioned using
suitsble bases.
1.6 Tanglble flxed assets
T8ngible fixed assets are inilialty measured at cost and subsequentty measured at Cost or valuation. net of
depreaation and any impairment bsses.
Depreciation is recognised 50 as to write off the cost orvaluation of assets le5S their residual value5 over their
useful lives on the following ba$es'.
Computers
33% per annurn straight line basis
The gain or loss arising on the disposal of an asset is determined as the difference between the sale
proceeds and the ¢arrySng value of the asset. and 1$ recognised Sn net Incomellexpendltu￿l forthe year.
1.7 Fixed 888Ot investments
Fixed asset Investments are Initial￿ meaSU￿d at transa¢tion pri¢e excluding transaction ¢osl$. and are
subs&qu8ntty measured al fair valu8 at each reportsng dale. Changes in fair value are recognised in net
incomellexpenditurel foi the year. Transaction costs ale expensed as incurred.
A 8ubsidiary is an entity controlled by the charitable company. CDntrol is the power to govèrn the financial and
operating policies of the entity 80 as to obtain benefits from ils activities.
1.8 lrnpairment of fixed a55ets
At each r8porting end date, the charitable company reviews the carrying amounts of its tsngible assets to
detettnine whether there is any indication that those a55els have suffered an itnpairrnent b5s. If any such
ndication exists, the ￿COVerable amount of the asset Is estSmated Sn order lo determSne the extent of the
impairment Ios8 lif any).
1.9 stocks
Stocks are stated at the lower of cost and estimated selling piice less costs to cornplete and sell. Cost
comprises direct materials and. Vthe￿ applicable, dI￿¢t labour costs and thDse overheads that have been
incurred in bringing thÈ stttks lo their pre8ent location and condition. Items held for distribution 8t no or
nomin81 consideration are measured th8 lower of r8placem8nt C08t and cosL
Net realisable value is the estimated selling prir* les8 all e8ts"matÈd Costs of completion and costs to be
incurred in marketing, selling and distribution.
1.10 Cash and ¢ash equlvalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-temi liquid
investments with original maturities of three months or less. and bank overdrafts. Bank overdrafts a￿ shown
within borrowings in current li8bilities.

THE PRAYER BOOK SOCIETY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
Ac¢ountlng poll¢les
1.11 Financial instrument5
The charitable company has elected to appty the provisions of Section 11 'Basic Financial Instruments, and
Section 12 '01her Financial In51rurnent5 Issues, of FRS 102 to all of its financial instiutnents.
Financial in3truments are recogni8ed in the charitable company's balance 8heet when the charitable Company
become5 party to the contractual provisions of the instrument.
Financial asset8 and liabilrties are offset. with the net amounts presented in the financial statemenis. when
there is s legally enforceable right to Sel off the recognised amounts and there is an intention to settle on a
net basis or to realise the asset and settle the liability 5imultaneousty.
Basic financial assets
Basic finanual assets, which in¢lude debtors and cash and bank balances. are initialty measured 8t
transaction price including transaelion costs and are subsequenuy carried al amortssed cost using the
effective interest method unles5 the arrangement constitutes a financing transaction, where the transaction is
measured al the present value of the fulurt receipts discounted at a market rale of interest. Finantsal assets
classified as receivabl& wthin one year are not amortised.
Basie financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unle85
the arrangement constitutes a financing transaction. where the debt instrument is measured ai the p￿sent
value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable
within one year ar& not arnortssed.
Debt instruments are subsequentty ¢arried at amortised cost, using the effective interest rate method.
Trade creditors are obligations lo pay for goods or services that have been acquiied in the ordinary course of
operations from suppliers. Amounts payable are classified as Current liabilities if payment is due within one
year or less. If not, they are presented as nonwcurrent liabilities. Trade creditors are recognised initially al
tisnsaction price and subsequently measured at amorbsed cost using the effectwe interest method.
Dere¢ognltlon of financlal Ilabllltles
FSnancial liabilities are derecognised when the charltable company's contractual obllgatSon$ expire or are
discharged or canceled.
1.12 Taxation
Th& Prayer Book Society is a registered charity and is therefor& ex8mPt from liability to taxation on its income
and capital gains.
Critical a¢¢ounling estimale$ and judgements
In the application of the Charitable company's a¢¢ounling rxili¢ies. the trustees a￿ requi￿￿ lo make
judgements. e8timales and as8umptions about the carrying amount of assets and liabilities that 8re not readity
apparenl from other sources. The eslimstes and sssoci8ted assurnptions are based on historical experience
and other factOlS that are considered to be relevant. Actual iesults may differ from these estimates.
Th8 estimat88 and Under￿ing assumptions are reviewed on an ongoing basi8. Revisions to accounting
eslimstes are recognised in the period in which the estimste is ievised where the revision affects onty that
period, Dr in the period of the revision and luture periods where the revision affects both current and fvture
periods.
-23-

THE PRAYER BOOK SOCIETY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
Donations *nd legacie8
Unrestricted Restricted
fund$
fund$
Total
Total
2020
2020
2020
2019
Donations and gifts
Legaaes receivable
Bengfactors
Membership lees
Gift aid
102,487
14,607
14,213
102,467
14,607
14,213
500
27.400
105,006
107,067
9,319
614
15,221
500
27,400
158,687
500
159,187
237,227
Forthe year ended 31 D￿ember 2019
236,613
614
237,227
t>onations and gifts
Membership contributions
Sundry donations
85,815
16,852
85,815
16,652
86,733
18,273
102,467
102,467
105,OC6
Charitable activities
Conference
Incom•
2020
Spe¢lal M18uM•nooug
events
Income
2020
2020
Totsl
2020
Total
2019
Charitable income- Miscellaneous
1,835
1,885
17,912
Other trading activities
UnY¢strl¢tsd Unr•St￿C￿d
funds
fundB
2020
2019
Trading actiwty income.. other
21,744
13,469
Trading Activty comprises sales of books and other publications since 1 Juty 2019. Prior to that date these
salg$ were recorded in the financial Statgmgnts of PBS Trading Limited.
24_

THE PRAYER BOOK SOCIETY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
Inve$tment$
Unrestrieted Re$tri¢ted
fund8
funds
Ttstal
Total
2020
2020
2020
2019
Investment Income
Interest receivable
18,025
731
7,4
25,515
765
29,713
758
18,756
7.524
26.280
30.471
For the year ended 31 December 2019
21,620
8.851
30.471
Other Income
Unre5tricte(I
funds
Total
2020
2019
Government grants
938
Raising fund
Unrestricted Restrictsd
fund$
fund5
Total
Totsl
2020
2020
2020
2019
Stsging fundraising events
Advertising
Other fijndraising cost8
765
14.870
6,075
765
14,870
6,075
7,278
18,513
4,235
Fundraising and publicty
21.710
21.710
30,026
Tradin
Costs
Depreciation and impairment
1,281
1,281
191
nvestment mana
ement
6,598
2,561
9,159
7,613
29,589
2,561
32,150
37,830
-25-

THE PRAYER BOOK SOCIETY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
Ralslng lunds
Forthe year endod 31 Decembor 2019
Fundraising and publicity
Trading Costs
Investment management
30.026
191
5.467
30,026
191
7,613
2,146
35.684
2,146
37,830
Charitable activities
Cost of Outroach Conference,
publications
meetings,
events
Total
2020
Total
2019
2020
2020
2020
The Prnyer Book Today
Faith & Worship
Advertising & marketing
Working with Ordinand8
Churches & Clergy Co-ordinator
Cranmer Awards
Conference & events
17,613
11,222
4,404
2,806
11,155
17,606
27,353
22,017
14.028
11.155
19,140
27.353
2,397
618
19,830
12.058
12,370
28.696
30,529
23.914
15.532
1,534
2,397
618
30.369
63.324
3,015
96.708
142.929
Share of support ¢osts Isee note 101
Share of governance costs Is8e not8 101
83,648
83,648
87,380
17,808
17,808
14.065
131,825
63,324
3,015
198.164
244.354
Analy8ls by fund
Unrestiicted funds
RÈslricted funds
130.291
1,534
63.324
618
2,397
194.233
3,931
218.730
25,824
131,825
63,324
3,015
198,164
244,354
For the year ended 31 December 2019
Uniestricted funds
Rèslrided funds
126.883
25,624
76.315
15,532
218.730
25,624
152,507
76,315
15,532
244,354

THE PRAYER BOOK SOCIETY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
10 Support costs
Support Governance
Costs
costs
2020
Support Governance
C05t5
costs
2019
Fundraising
Travel & $ub$islen¢e
Meeting costs
Sundry costs
Administration costs
Printing. postsge and
ststionery
Legal & profession81
costs
Office costs
Rent
Trading purchases
4.098
7,319
1.061
4.438
43.638
4.096
7,319
1.061
4,436
43.fj38
4,535
4,535
11,1331
40.618
40.618
8,500
8,500
8,591
8,591
400
6.957
10,320
13.451
400
6.957
10,320
13.451
6.525
10.175
1.519
6.525
10,175
1.519
Audit fees
Other costs
AGM costs
9,240
9,240
696
7.872
9,000
2.977
2,088
9,000
2.977
2,088
7,872
83,648
17,808
101.456
87.360
14,065
101.425
Anatysed bÈtween
Chaiilable activities
83.648
17,808
101.456
87.360
14.065
101.425
Govemance Costs include p8ymÈnts to the auditors of £9,00012019- £9,000) for audit fees.
11 Tru81ee8
The trustees undertake the day to day operation and Tnanagernent of the charity, with assistance provided, on
a full time basis. trom the churches and clergy ¢wrdinalor and from four part time adminislralive members of
st8ff. No charg& is made for the s8rvic8s of truste88. No trustee, or persons related to or conn8Cted by
busine55 to them, has received any rernuneration frotn the society during the yeai. The total expenses
imbursed to seven Iruslees amunted to £4.378. In relation to travel and $Jbsistence 12019.. seven Iruslees
aMDUnting to £7,256).
27_

THE PRAYER BOOK SOCIETY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
12 Employees
Number tsf empltsyees
The average tnonthty nurnber of employees during the year was..
2020
Number
2019
Number
Empltsymènt costs
2020
2019
Wages and salaries
Soci315ecurity c051s
Other pension costs
72,195
1.241
1,054
68,921
1.240
1,389
74,490
71,550
The￿ were no employees whose annual remuneration was £60.000 or rn0￿.
13 Net gain$llh)s$esl on investments
Unrestricted R95tricted
funds
funds
Total
Total
2020
2020
2020
2019
RevaluatSon of Investments
19,8191
9,120
14991
138,682
For the year ended 31 December 2019
101,019
37,643
138,662
-28-

THE PRAYER BOOK SOCIETY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
14 Tanglble flxed assets
CoThputo
Cost
At 1 January 2020
Additions
10,420
689
At 31 December 2020
11,109
Depreciation and impairment
At 1 January 2020
Depreciation charged in the year
7.131
1,281
At 31 December 2020
8,412
Carrylng amount
At 31 Decetnber 2020
2.697
At 31 December 2019
3,289
15 Flxed asset Inve$tment$
Unrestrl¢ted
Martln
Charterls
a$h In
other
portfollo Investments
Totsl
Cost tsr valuation
At 1 January 2020
Addrtions
Valuation change$
Management fees
Transferto cash at bank
Disposals
776,868
66,970
19,6191
283,282
13.767
9,120
25,440
180.7371
10,000
1,095,580
14991
19.1591
25.000
110,0001
19.1591
25.000
57,160
149,1881
17.9721
110,0001
At 31 December 2020
785,031
298.197
17,704
1,100,932
Carrylng amount
At 31 December 2020
785,031
298.197
17.704
1,100.932
At 31 December 2019
775,868
283.282
25.440
10.000
1,095.590
2020
2019
Other investments comprise..
Notes
Investments In subsidiaries
10,000
-29-

THE PRAYER BOOK SOCIETY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
16 Sto¢k$
2020
2019
Finished goods and goods for resa
8.238
10.236
17 Debtors
2020
2019
Amounts falllng due wRhln one year.
Other debtors
p￿PaYMents and accrued income
11,775
1.453
1,923
13,228
1,923
18 Cr•ditors.' amounts falling du• within on• y•ar
2020
2019
Arnounts owed to fellow group undertskings
Accruals and deferred Income
20,122
9,000
9,240
9,240
29,122
19 Retlrement benefft schemes
The charitable company operates a defined conthbution pension scheme for all qualifying employees. The
assets of the schetne are held sepaiatety trom those of the chaiitabk company in an independently
admlnlstertd fund.
20 An&￿0¥ ol net ￿sets between funds
Unr88trictsd R8Strlcted
2020
2020
Total
2020
Total
2019
Fund balances at 31 December 2020 are
prtsented by".
Tanglble assets
Investments
Current assetsllllabSlllfjesl
2,697
791,317
63,668
2,697
1,100,932
134.444
3,289
1,095,590
159,975
309,615
70.776
857.682
380.391
1,238,073
1.258.854
-30-

THE PRAYER BOOK SOCIETY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
21 Restricted Funda
Martin
Tho Organ
Matthias
Eileen
Prayor
Petsr
Charteri& 8cholarnhipPrayer Book Freernan Books for
Toon
MÉmorial Fund
Fund
Fund Bequetst
Africa MÉmorial
Fund
Total
Balan￿ brought
forward at 1
January 2020
Transfer in
Income for th8
year
Expenditure for the
year
GainllLossl on
investments
256,989
1.914
6,411
92,432
9,639
369,739
4,302
57
532
2,773
71
289
8,024
14,9471
11,5451
16,4921
9,120
9,120
Balan￿ carried
fO￿ard at 31
December 2020
265,464
1,971
5,398 95,205
2,425
9,928
380,391
The Martin Charteris Memorial Fund principally exists to support the CranmerAwards Compth"tion.
The Organ Scholarship Fund assists trainee organists, who are learning to awompany Prayer Book
services, with their tuition fees and lo give bursaries to trainee organists.
The Matthias Prayer Book Fund provides grants to churches to acquir8 copie5 of the Book of Common
Prayerwhere the recipient churches a￿ unable to do so on their own a￿Ount.
The Eileen Freeman Bequest is to be spent on actmties undertaken by the Blad(bum Branth ol the
SocEty.
Prayer Books forAfrica is an appeal fund which enables copies of the Book of Common Prayer to be
purth85ed and Shipped to African chuich85.
The Peter Toon Memorial Fund financts the Peter Toon Memorial Lecture which aims to promote. defend.
expound the Refoimed Anglican Way as expressed in the Forfflulai*s of the Church tsf England- the Book
of Common Prayer, the Thirty-Nine Art￿5 and the Oidinal.
22 Related party transactions
There were no disd03ab￿ related paty transactions during the year12019- none).
31

## **THE PRAYER BOOK SOCIETY** 

## **APPENDIX** 

Note that this is the position as of 31[st] December 2020. 

There is a branch of the Society in the following dioceses: Bath & Wells Ely Peterborough Blackburn Exeter Rochester Bristol Gloucester St Albans Canterbury Guildford Salisbury Carlisle Hereford Sheffield Chelmsford Leeds Southwell & Nottingham Chester Leicester Truro Chichester London & Southwark Winchester & Portsmouth Coventry Newcastle York Derby Norwich Durham Oxford 

There are also branches in Ireland and North Wales and one for overseas members .