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2021-12-31-accounts

Farnborough ~~ oe. M&, a — li(i‘i‘S | Annual Report and Financial Statements of the Parochial Church Council for the year ended 31st December 2021

ee Parochial Church Council of St Peter’s Church Farnborough ANNUAL REPORT

Background

The PCC of St Peter’s Church is an official, predominantly elected team that shares leadership responsibility with its Incumbent, in promoting within the ecclesiastical parish the whole mission of the Church - pastoral, evangelistic, social and ecumenical. It also has maintenance responsibilities for the St Peter’s Church complex and associated properties. The Reverend Elizabeth (Libby) Etherington was appointed as Rector in May 2019. The Parochial Church Council is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council Powers Measure. The Parish of St Peter’s and the Parish of the Good Shepherd are a two-parish Group Ministry within the Aldershot Deanery of the Guildford Diocese. This is a commitment to support and co-operate in mission and has no financial obligations. The Church Pastoral Aid Society is the sole patron of both Parishes. The PCC is registered with the Charity Commission. Its charity registration number is 1127534.

Membership

Members of the PCC are either ex-officio or elected by the Annual Parochial Church Meeting (APCM) in accordance with the Church Representation Rules. In 2021 the Parish elected 5 of the 15 PCC representatives with the Deanery Synod elections held in 2020, with a 3 year term. In the light of the national situation relating to Coronavirus (COVID-19) the Bishop of Guildford used the powers contained in the Churchwardens Measure 2001 and the Church Representation Rules to permit APCMs to take place remotely if required. The APCM was held on held on 28th April using Zoom, with some 104 ‘logons’ and approximately 125 parishioners attending.

During the year the following served as members ofthe PCC: Incumbent: Revd Elizabeth Etherington Clergy: Revd Richard Cobbold Revd Sarah Norbron Revd Gareth Dicks Associate Minister (from 2 July) Revd Ben Perkins Curate

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|||||||| |---|---|---|---|---|---|---| |Youth|Minister:|Mrs|Chloe|Pollington|Licensed|Lay Worker| |Licensed Lay Ministers Representative:|Mr Andrew|Linn|(re-elected APCM|2021)| |Wardens:|Mrs|Mary|Bolton|(re-elected APCM|2021)| |Mr Simon|Martin|(re-elected APCM|2021)|

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Parochial Church Council of St Peter’s Church Farnborough ANNUAL REPORT

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|||||||| |---|---|---|---|---|---|---| |Representatives on|the|Mrs|Catherine|Fewings|(from APCM|2020)| |Deanery Synod:|Dr|David|Rowell|(from APCM|2020)| |Mr|Neil|Seagrave|(from APCM|2020)| |Mrs|Kate|Bricknell|(from APCM|2020)| |Mrs|Juliet|Davis|(from APCM|2020)| |Mr|Nick|Hayward|(from APCM|2020)| |Representatives:|Mr David Barnes|(Treasurer)|(from APCM|2021)| |Mrs Andrea|Birkett|(from APCM|2019)| |Mrs|Shirene|Comrie|(from APCM|2021)| |Mr Jonathan|Coppock|(from APCM|2020)| |Mr|Rob|Hooper|(to APCM|2021)| |Mrs|Liz|Ibbotson|(from APCM|2021)| |Mr Anthony|Gilbert|(from APCM|2019)| |Mrs Anne|Hudson|(from APCM|2019)| |Mr Jonathan|Kelly|(from APCM|2020)| |Mrs|Catherine|Morganti|(to APCM|2021)| |Mr Tom|Norbron|(to APCM|2021)| |Mr|Chris|Parrott|(from APCM|2021)| |Mr|Colin|Price|(from APCM|2019)| |Mr Alan|Rees|(to APCM|2021)| |Mr|James|Rogers|(to APCM|2021)| |Mr|David|Shervington|(from APCM|2021)| |Mrs|Margaret|Taylor|(from APCM|2020)| |Mrs|Alison Welch|(from APCM|2020)| |Mrs|Tina West|(from APCM|2019)| |Mrs|Hannah|Witt|(from APCM|2020)|

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Representatives:

Co-Opted Member: Mr David Barnes (Treasurer) (from 14 Oct 2020 to APCM 2021)

Structure, Governance and Management

The method of election of the PCC members is as set out in the Church Representation Rules. All church attendees are encouraged to register on the Electoral Roll and the church leadership team endeavours to ensure that all congregations are represented on the PCC.

All PCC members are provided with up-to-date information on their responsibilities as trustees. All safeguarding training as required by the Diocese is undertaken online

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Parochial Church Council of St Peter’s Church Farnborough ANNUAL REPORT

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and all new members benefit from ‘on-the-job’ training while attending PCC meetings, sub-committee meetings and Deanery Synod meeting as appropriate.

Committees

The PCC operates through a number of committees that meet between full meetings of the PCC:

Standing Committee

This is the only committee required by law. It has power to transact the business of the PCC between its meetings, subject to any directions given by the Council. It also keeps under review all PCC business matters and non-financial administration practices that are not the responsibility of any other subcommittee, agrees the agenda for PCC meetings, and prepares and administers contracts of employment for PCC employees for ratification by the PCC. It has authority to approve spending up to £1,000 on any individual item of expenditure, subject to reporting at the next PCC meeting.

Campus Development Committee

The Campus Development Committee manages campus development projects. The | committee develops draft proposals for requirements, investigates and recommends the appointment of professional practices and liaises with professional practices when appointed. The committee has not met for several years.

Mission Committee

The Mission Committee manages mission activities (outside the parish), encouraging members of St Peter’s to consider God’s call to support mission, assisting in the selection of those called, supporting them throughout their training, missionary career and eventual resettlement. It encourages an interest in Mission (outside the parish) within the church family, keeping them informed. It manages the St Peter's Mission Fund, which supports mission links and organisations financially.

Maintenance Committee

The Maintenance Committee manages the repair and maintenance of church property comprising St Peter’s Church and grounds, the Parish Centre, St Peter's House and 14 Wilton Court.

Finance Committee

The Finance Committee assists the PCC and Treasurer by managing the General Fund finances, including the preparation of annual audited accounts, preparation of the

Parochial Church Council of St Peter’s Church Farnborough ANNUAL REPORT

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Annual Finance Report and presentation at the Annual Parish Meeting. The Finance Committee oversees all the other subcommittees’ financial transactions.

Parish Centre Management Committee

The Parish Centre Management Committee manages all aspects of usage and caretaking of the Parish Centre and its facilities.

Safeguarding and Risk Management

A Risk Management policy is in place. The identification of risks and their management are devolved to the sub-committees and other groups who are most familiar with the detail of activities at their events (e.g. children’s groups, catering team). Risks are identified together with an owner, severity is assessed and the necessary countermeasures identified (often with reference to Diocesan documentation).

During the year the PCC reviewed a number of detailed Risk Assessments relating to Covid 19 prevention Many of these were revisions due to changes in requirements and guidance. These included Protocols for returning to worship in church safely, allowing restricted use of the Parish Centre, Protocols for use of the Church with restricted numbers of worshippers, measures to accommodate restricted Christmas Services etc. There were no instances of any Covid infection or required isolations.

The principal risks are in the areas of:

Our appointed Parish Safeguarding Officers have participated fully in the Diocesan initiative to strengthen Safeguarding practices through the development of an integrated Safeguarding Dashboard. When fully developed this will identify all children, young persons and vulnerable adult activities, compliance with safeguarding requirements and provide confidential tracking of any issues. The Dashboard is being progressed through a formal Action Plan reviewed regularly. All of the current lay PCC members have completed the on-line safeguarding course required by the Diocese. The PCC has complied with the duty under section 5 of the

6 Parochial Church Council of St Peter’s Church Farnborough | ANNUAL REPORT | (continued) | Safeguarding and Clergy Discipline Measure 2016 (duty to have regard to House of | Bishops’ guidance on safeguarding children and vulnerable adults). | The scope of current safeguarding related policies, e.g. Photography, Social Media are | under review to ensure their integration with revised Diocesan guidelines.

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Objectives and Activities

St Peter’s PCC has the responsibility of supporting the Rector and staff team in promoting the whole mission of the church within the ecclesiastical parish - pastoral, evangelistic, social and ecumenical. It also has responsibility for the Parish Centre, which is on the campus.

Major Objectives for the Year

The PCC has continued to support and resource the ministry of the church in fulfilling its objectives, expressed in the three-fold Vision Statement, to “Love God, Love the Church, Love the World.’

Once again, the year was dominated by the continuation of the Covid-19 pandemic, and although we had already adjusted many of our operations and systems to cope with the frequently-changing situation and guidelines, church life remained challenging. Our regular pattern of Sunday worship, mid-week gatherings and outward looking ministries was severely affected. At times, the church was closed for public worship, whereas, at other times, we have functioned at various levels of normality, but never quite returning completely to how things were before Covid. On many occasions, we have been forced to reconsider how we stay true and active in fulfilling our purpose and, and out of this a good deal of fresh creativity and new ideas have been birthed, resulting in surprising instances of success. We have been encouraged by making increasing use of the excellent outdoor space that our church campus is blessed with. This has meant that, where possible and appropriate for the congregants, worship has been taken outside on special occasions. These services and events have seen significant numbers attending, compared to the more limited capacity and layout inside the church building. We have created new ways of worshipping and gathering community that numeric evidence demonstrates is a very popular development. Easter and Christmas were particular highlights in this area, with our outdoor carols and fireworks drawing in just under 500 neighbours and friends.

We were also able to safely run a predominantly outside, and occasionally wet, Holiday Club with around 150 children from the local community. This included a family evening outside where the number of visitors were estimated at around 500. Serving our community during these difficult times has been a real priority and highlight. Our alternative to Halloween, “The Light Trail’, ran for the second time, again with a great turn out (well in excess of 500 participants) and appreciation from both the church and local community - families with children trod the streets

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following a pre-set trail, with fun along the way and then gathering in our church campus for seasonal outdoor refreshments.

Another initiative that has not been hindered by Covid, is the launch of our Christians Against Poverty Debt Centre. We have appointed a part-time manager to coordinate and lead this community focused service, partnering with the reputable charity CAP. Our church community is demonstrating a keen commitment to support this ongoing initiative, that seeks to assist local participants in the journey to be free of personal debt, whilst also extending an invitation to become part of the life of the church and benefit from the support it can offer. And a second example of our ministering to the current needs of our community, was the pioneering of a ‘Hope in Depression’ six-week course during the Autumn, that offered a safe place and support to those in our community struggling with their mental health.

_ offeringOther externalgames initiativesand creativeincludeactivitiesour servicefor childrenas a churchand youngat the localpeopleHalfinMarathon,the local shopping centre, supporting families and children who struggled during lockdown by providing laptops and care packages where needed, and working with local schools to help as much as we could throughout some very difficult days.

Our outward-facing regular ministries to the elderly, young families, Dads and Kids have also been very stop-start throughout the year, but have also had some moments of great blessing and encouragement. A real highlight here was the much-anticipated ‘Holiday at Home’ day, where neighbouring senior citizens were invited to have a day out at the church - a day greatly enjoyed by many who have found themselves very isolated at other times of the year. The fortnightly ‘Meet and Eat’ lunch also evolved in its format to respond to restrictions, with some outdoor picnics before returning to the warmth of the Parish Centre. Care of the needy (including significant support of the food charity run by the Church of the Good Shepherd) continued to be significant during this time.

Internally, the spiritual life of the church has continued to be affected by the restrictions and frequent changes to operational guidelines, applied by the Government and Diocese of Guildford. Having secured a reliable and invaluable live streaming system in our church building, we have been able to adjust accordingly. This has allowed us to maintain both the regular Sunday worshipping life of the church and provide online facilities for many weddings and funerals where physical attendance has been limited. Our network of small groups, offering spiritual sustenance and friendship to church members has also continued in a variety of ways, at times online and increasingly returning to meeting in person. Our youth and children’s groups have also adapted to the situation and continue to encourage and serve under 18's in our community.

Considering the extraordinary circumstances of the pandemic, the church has managed well to adapt and respond sensitively to the exceptional and unexpected challenges experienced by its members and neighbours in the parish.

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When planning our activities for the year, the PCC has considered and taken account of the Charity Commission guidance on public benefit. In 2020 the PCC agreed to partner with Bishop Andrew Guildford and St. Mark’s PCC to support a church plant to St. Mark’s in Spring 2022. Revd. Gareth Dicks joined St. Peter’s in June 2021 to become known to the congregation in preparation for gathering a team from the congregation in early 2022.

Achievements and Performance

Church Attendance

The number of parishioners on the Church Electoral Roll at the 2021 APCM was 397. It is hard to establish any average attendance figures during this year, as constantlychanging guidelines and restrictions have frequently moved the goal-posts for our Sunday gatherings. We have maintained two distinct styles of worship (Classical and Contemporary) in some form every Sunday throughout this time, with attendance being online, in person or a mixture of[both.]

As well as our regular services, we enable our community to celebrate and thank God at the milestones of the journey through life. Through baptism we thank God for the gift of life, in marriage public vows are exchanged with God’s blessing and through funeral services friends and family express their grief and give thanks for the life which is now complete in this world, and to commend the person into God's keeping. Over the year we have had 11 infant baptisms. We have had 4 marriages and 11 funeral services held in church, and a further 5 funeral services were conducted by our clergy at local crematoria or cemeteries. We have had 6 interments of ashes in our Garden of Remembrance.

Review of the Year

The full PCC met nine times for general business during the year, with an additional extraordinary meeting in August to discuss and decide on proposals for a revised structure of worship services, all meeting being by Zoom. Overall attendance was 82.5%. In between these meetings the subcommittees listed above met and their minutes were circulated to the PCC. Discussion took place on these minutes where necessary.

Sunday services followed a temporary ‘Covid’ holding pattern until mid September, with a 9am classical style service followed by a 10.30am more contemporary style service with a repeat of this (to allow for higher numbers to attend) at 5pm. From mid September we moved to our new and ongoing service structure: 9.15am - CONTEMPORARY SERVICE

An informal service welcoming all ages, with age appropriate groups for children up the age of 11 years. Refreshments are served after the service in the church.

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11.15am - CLASSICAL COMMUNION SERVICE

A liturgical communion service with traditional organ-led hymns, where congregants are invited to attend earlier to join with the refreshments in between services, should they like to.

2.30pm —- COMMUNITY WORSHIP

A smaller service, welcoming and gently traditional where friendship and post service refreshments and prayer are key components of the gathering. 5.30pm -CONTEMPORARY EVENING SERVICE

A very informal and contemporary service, especially suitable for youth and young adults (although all ages are welcome and greatly enjoy it). Music is led by a band and refreshments are served immediately after the worship has ended. During the service, those aged 11-13yrs meet (Pathfinders), whilst old youth 14-18 yrs attend the service and meet afterwards.

Other special services were held around key Christian festivals and many outreach events in the community (as detailed above).

We have 25 Home Groups running, either weekly or fortnightly within which approximately 280 people participate. These have been meeting in various ways throughout the year, via WhatsApp, Zoom or in person.

A number of maintenance and improvement tasks have been undertaken this year, including the installation of a new boiler.

The majority of our mid-week ministries were cancelled for much of the year due to the Covid-19 restrictions. Our children’s ministry has managed to continue to work with five local primary schools delivering collective worship, lessons and some lunchtime clubs. Some of these were done online. Our youth ministry has maintained contact with many of our young people throughout this year, continuing mentoring, and some mid-week gatherings (online and ‘in person’).

Prayer gatherings and special events were mostly online during the year, although a new weekly early morning initiative was launched in the autumn term and has managed to stay in person.

Financial Review

The continuing generosity of church members enabled the PCC to meet its normal commitments of running and maintaining the Church and associated activities. The PCC has made plans to provide a significant level of support to a neighbouring parish in 2022. These plans have been shared in principle with the church membership with the details due to be clarified early in 2022. The Finance Committee will monitor the financial impact of these plans as they crystallize during the year.

10 Parochial Church Council of St Peter’s Church Farnborough ANNUAL REPORT

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An Asset List has been established for the purposes of financial planning. We are continuing to make provision for the replacement and repair of items that are not annual expenses.

Reserves

The PCC does not hold significant financial reserves on the grounds that our church members give their money to be used, not held. We do, though, monitor our cash position very closely and it is our policy to maintain a ‘cash-at-bank’ balance of unrestricted funds in excess of £40,000.

At 31st December 2021 the reserves comprised:

Fundraising

| Fundraising at St Peter’s is purely in the form of receiving free-will offerings and | donations, some of which are gift-aided, from members of our congregations. We have not contracted the service of any professional fundraisers as defined by section 58 of the Charities Act 1992.

Collection boxes are available at all services, the contents of which are treated as part of our worship and handled as part of our weekly banking process. All congregations are given a summary of the financial needs of the Church as part of the Vision and Giving presentations.

We do not engage in persistent or intrusive fundraising practices with any of our donors, including vulnerable people, and we do not have private or coercive discussions with individuals about their giving. Our fundraising practices are ethical and in accordance with Biblical principles. No complaints were received about our fundraising practices.

Pay and remuneration

The Key Management Personnel are considered to be the members of the PCC, who are the trustees of the charity, and the Operations Manager. The arrangements for the pay and remuneration of Key Management Personnel are as follows.

Parochial Church Council of St Peter’s Church Farnborough ANNUAL REPORT

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No other member of the Key Management Personnel is paid.

Pension

With regard to our Pensions policy we make pension contributions for nonstipendiary ministry staff of 10% of salary, and for administrative and caretaking staff we pay a contribution of 9%, rising to 10% in 2022. The contributions are charged to expenditure in the period they are due.

Mission Fund

The Mission Fund is a restricted fund (it cannot be spent on just anything) for giving to individuals and organisations in the mission field. During 2021 the reserves of this fund inc/decreased slightly and these reserves will be applied as decided by the Mission Committee on behalf of the PCC. During 2021 we supported 22 individuals and organisations both at home and abroad, notably our link missionaries who we encourage you to read about on our website.

Professional Advisors

Our bankers are National Westminster Bank PLC. 31-37 Victoria Road, Farnborough, Hants. GU14 7NR.

Our independent examiners are Jacob Cavenagh & Skeet. 5 Robin Hood Lane, Sutton, Surrey. SM1 2SW.

Plans for the Future

Over the coming years the PCC intends to support and resource the ministry of the church in fulfilling its objectives, expressed in the three-fold Vision Statement, to ‘Love God, Love the Church, Love the World’. Following the pandemic the PCC will review and develop it’s mission strategy, guided by the Diocese of Guildford’s strategy. This may well lead to new initiatives particularly in reaching out to our local community. It is hoped to build upon our good links with the local shopping centre and establish a drop-in Outreach and Prayer space, where we would offer conversation, listening support and where necessary guide people to more dedicated services e.g. Debt counselling, Bereavement, wellbeing (mental health).

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Parochial Church Council of St Peter’s Church Farnborough ANNUAL REPORT

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Responsibilities of PCC members

The PCC members are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.

Charity law requires the PCC members to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the church and of its financial activities for that period.

In preparing those financial statements, the PCC members are required to:

The PCC members are responsible for keeping proper accounting records, which disclose with reasonable accuracy, at any time, the financial position of the church and enables them to ensure that the financial statements comply with the Charities Act 2011 and the Church Accounting Regulations 2006. They are also responsible for safeguarding the assets of the church and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The financial statements that follow have been prepared in accordance with the Charities Statement of Recommended Practice 2015, Financial Reporting Standard 102.

21 March 2022

ON BEHALF OF THE PCC

Rev Libby Etherington

PCC Chair

Parochial Church Council of St Peter’s Church Farnborough

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REPORT OF THE INDEPENDENT EXAMINERS

INDEPENDENTEXAMINER'S REPORT TO THE TRUSTEES OF STPETER’S CHURCHFARNBOROUGHPAROCHIAL CHURCH COUNCIL

Independent examiner’s report to the trustees of St Peter’s Church Farnborough Parochial Church Council

I report to the charity trustees on my examination of the accounts of the St Peter’s Church Farnborough Parochial Church Council (the Church) for the year ended 31 December 2021 set out on pages 15 to 28.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements ofthe[Charities] Act 2011[(‘the][Act’).] I report in respect of my examination of the Church’s accounts as carried out under section 145 of the Act and in carrying out my examination I| have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement ) Since the Church’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one ofthe listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Church as required by section 130 ofthe Act; or

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

  2. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Report) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or

  3. the accounts have not been prepared in accordance with the methods and principles of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102).

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Parochial Church Council of St Peter’s Church Farnborough REPORT OF THE INDEPENDENT EXAMINERS

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I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Min hw

Miriam Hickson CTA FCA

Jacob Cavenagh & Skeet

5 Robin Hood Lane

Sutton

Surrey

SM1 2SW

Date: Zofoz [rozz

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Parochial Church CouncilofStPeter’s Church Farnborough
FINANCIAL STATEMENTS
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Parochial Church Council of St Peter’s Church Farnborough FINANCIAL STATEMENTS

(continued)

Balance Balance Sheetat31stDecember2021 Sheetat31stDecember2021
Unrestricted Restricted 2021 2020
Funds Funds Total Total
Note 5 £ £ £
Fixed Assets
Tangible fixed assets 7 1,713,934 ~ 1,713,934 L677213
Investments : “ 5 4
1,713,934 3 1,713,934 1,677,213
CurrentAssets
Debtors 8 24,624 3,005 28,020 22,125
Shortterm deposits z - - g
Cash atbankand in hand 200,629 54,840 255,470 192,945
225,254 58,236 283,490 215,060
Liabilities: Amounts fallingdue due 9 13,843
within one year 8,432 6,346 14,778
NetCurrentAssets 216,821 51,890 268,712 201,217
TotalAssets less Current 1,930,756 51,890 1,982,646 1,878,429
Liabilities
Liabilities: Amounts falling due - - - -
after oneyear
NetAssets 1,930,756 51,890 1,982,646 1,878,429
Funds
Unrestricted 1,930,756 1,930,756 1,816,097
Restricted 10 51,890 51,890 62,332
1,930,756 51,890 __ 1,982,646 1,878,429

Approved by the Parochial Church Council on 21st March 2022 and signed on its behalf by:

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Bown
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Draw
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E A Etherington (Chairman)

DJ Barnes (Member)

Parochial Church Council of St Peter’s Church Farnborough FINANCIAL STATEMENTS

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Statement of Cash Flows

for the Year Ended 31st December 2021

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2021 2020
Total Total
Funds Funds
Note E £
Net cash provided by (used in) operating activities ii 69,519 52,268
Cash flows from investing activities:
Dividends, interest and rents from investments (24) (166)
Purchase of property, plant and equipment (6,960) (1,285)
Net cash provided by (used in) investing activities (6,984) (1,451)
Change in cash and cash equivalents in the year 62,535 50,817
Cash and cash equivalents brought forward 192,925 _ [142,118]
Cash and cash equivalents carried forward 255,470 132,935
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Notes to the Financial Statements for the Year Ended 31st December 2021

1 Accounting Policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

Basis of preparation

The financial statements are prepared in sterling, which is the functional currency of the church. Monetary amounts in these financial statements are rounded to the nearest Ei

The Parochial Church Council of the Ecclesiastical Parish of Saint Peter Farnborough is UK Registered Charity No. 1127534 and meets the definition ofa public benefit entity under FRS102. Its registered place of operations is 60 Church Avenue, Farnborough, Hampshire GU14 7AP.

The financial statements have been prepared under the Church Accounting Regulations 2006 and in accordance with the Financial Reporting Standard 102 (FRS 102), Charities Statement of Recommended Practice (Charities SORP (FRS 102)), applicable accounting standards and the Charities Act 2011. The financial statements are drawn up on the historical cost basis of accounting, as modified by the revaluation of tangible fixed asset properties.

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Parochial Church Council of St Peter’s Church Farnborough FINANCIAL STATEMENTS

(continued)

Going concern

At the time of approving the financial statements, the PCC members have a reasonable expectation that the church has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties about the charity’s ability to continue. Thus the PCC members continue to adopt the going concern basis of accounting in preparing the financial statements.

Funds

General 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.

Restricted funds represent the funds of the PCC on which donors have imposed specific restrictions or which have been received for particular purposes. The aim and use of each restricted fund is set out in note 10 to the financial statements.

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.

Income

Donations, legacies and church activities

Other Income

Income from investments

Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that a settlement will be required and the amount of the obligation can be measured reliably. Expenditure is discounted to present value for longer term liabilities. All expenditure is accounted for on an accruals

Parochial Church Council of St Peter’s Church Farnborough FINANCIAL STATEMENTS

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(continued)

basis. Redundancy and end-of-contract payments are recognised when agreement is reached.

Church Activities

This includes all expenditure incurred in the meeting ofthe[church’s] main[objectives,] and includes all costs in support of these objectives (including staffing and office costs). Grants payable are payments made to third parties in the furtherance of the charitable objectives ofthe charity. In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant award. The notification gives the recipient a reasonable expectation that they will receive the one or multi-year grant. Grants awards that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled conditions attaching to that grant are outside the control of the charity.

Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty as to the timing of the grant or the amount payable. A provision for a multi-year grant is recognised at its present value where settlement is due over more than one year from the date of the award, there are no unfulfilled performance conditions under the control of the charity that would permit the charity to avoid making the future payments, settlement is probable, and the effect of discounting is material. The discount rate used is the rate offered on government bonds for a similar time period offered in the year in which the grant award is made.

The diocesan parish share is accounted for when payable. Any share unpaid at 31st December is provided for in these accounts as an operational (though nota legal) liability and is shown as a creditor in the balance sheet.

Other monies expended are recognised in the period in which they are incurred and are inclusive of attributable VAT, which cannot be recovered.

Included in church activities are governance costs, which comprise all costs in allowing the church to meet its legal and statutory requirements.

Fixed assets

Consecrated land and buildings and movable church furnishings

Consecrated or beneficed property is excluded from the accounts by Section 96(2)(a) of the Charities Act 1993.

Movable church furnishings held by the Rector and Churchwardens on special trust for the PCC, and which require a faculty for disposal, are accounted as inalienable property unless consecrated. They are listed in the church’s Inventory, which can be inspected (at any reasonable time). Inalienable property acquired prior to 1 January 2000 is not valued in the accounts. Items acquired since 1 January 2000 have been capitalized and depreciated in the accounts over their currently anticipated useful economic life (initially over 4 or 5 years) on a straight-line basis.

20

Parochial Church Council of St Peter’s Church Farnborough FINANCIAL STATEMENTS

(continued)

All expenditure incurred in the year on consecrated or beneficed buildings, individual items under £500 or on the repair of movable church furnishings acquired before 1 January 2000 is written off.

Other land and buildings

No depreciation is provided on freehold land and buildings. The PCC adopts a policy of maintaining all properties to a high standard which prolongs their useful lives and enhances their residual values and accordingly the PCC considers any depreciation arising or accumulated depreciation to date to be insignificant and immaterial.

Housing properties are valued at their fair value. The Parish Centre is stated at cost. An annual review is carried out to consider the useful life and estimated residual value of all freehold properties.

Other fixtures, fittings and office equipment

Equipment used within the church premises is depreciated on a straight line basis over 4 or 5 years. Individual items of equipment with a purchase price of £500 or less are written off when the asset is acquired.

Debtors

Income tax recoverable and other debtors are included at the settlement amount due. Prepayments are valued at the amount prepaid.

Cash at bank and in hand

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

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation arising from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are recognised at their settlement amount.

Financial instruments

The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Pensions

Payments to defined contribution retirement benefit schemes are charged as they fall due.

2]

Parochial Church Council of St Peter’s Church Farnborough FINANCIAL STATEMENTS

(continued)

2 Income
Unrestricted Restricted 2021 2020
Funds Funds Total Total
£ £ £ £
(a) Donations andlegacies
Gift Aid 275,929 52,095 328,324 357,567
Income taxrecoverable on gift aid 69,636 13,450 83,086 89,801
Collections (open plate) at all 3,077 850 3027 2,341
services
Sundry donations 52,600 5,319 57,919 68,203
Donations, appeals etc. - 94 94 40
Legacies 80,818 - 80,818 2,070
Grants - Other 124 - 124 465
482,185 72,107 554,292 520,486
(b) Investmentincome
Interestand dividends (all UK) 18 7 24 166
18 Zz 24 166
(c) Charitable activities
Events and activities 12,315 Zi5 12,590 5,405
Premises lettings etc. 8,053 ~ 8,053 13,216
Feas 3,086 750 3,836 2,347
23,454 1,025 24,479 20,968
(d) Otherincome
Insurance claims - - - 11,270
CJRS ! income 2,461 _= 2,461 10,003
2,461 - 2,461 21,274
Totalincome 508,117 73,139 581,256 562,894

‘Coronavirus Job Retention Scheme. ‘Furloughing’

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Jo Parochial Church Council of St Peter’s Church Farnborough FINANCIAL STATEMENTS

(continued)

3 Expenditure
Unrestricted Restricted 2021 2020
Funds Funds Total Total
£ ze £ £
Charitable activities
Grants (note 4):
Missionary societies - 5,600 5,600 7,606
Reliefand development - 12,178 12,L78 9,500
agencies
Home missions and other 7,698 64,418 72,116 58,112
Church Societies
Other charitable societies - 9 9 2,007
Ministry: Diocesan share 132,301 - 132,301 134,501
Staff costs (note 5) 79,016 - 79,016 79,626
Staffexpenses 3,593 - 3593 8,172
Church running costs 27,160 28 27,187 26,277
Church maintenance 20,854 - 20,854 47,752
Events 13,912 - 13,912 3,774
Group activities 8,597 1,349 9,946 9,070
Equipment depreciation 5,238 - 5,238 5.976
Capital &replacement projects 26,062 - 26,062 29,43
Salaries&pensions (note 5) 88,019 - 88,019 79,574
Training 2,203 - 2,200 Sigeio:
Loan interest - - “ -
Governance
: Independent		 2,836 - 2,836 3,542
examiner’s fees
Professional fees 473 - 473 2,160
Worship support costs 1,309 - 1,309 2,539
Office support costs 9,188 - 9,188 6,749
428,459 83,581 512,040 517,co0
Totalexpenditure 428,459 83,581 512,040 517,305

Parochial Church Council of St Peter’s Church Farnborough FINANCIAL STATEMENTS

23

4 Grants

(continued)

The following grants over £1,000 were made in the year:

2021 2020
£ £
NA Pease (Stewardship) 11,900 11,400
Bible Churchmens Missionary Trust (J & J Miller) 7,100 4,950
Latin Link (M &H Frost) 7,100 4,400
Military Ministries International (G Stoevski) 7,100 4,400
PAK7 (A Hart) 7,100 6,300
India Africa Foundation 6,400 6,500
The Triangle 4,500 4,000
Pioneers UK (H Antelo) 4,100 2,400
Emmanuel (General) 4,100 1,800
Fusion (P Bolton) 3,850 3,850
Serving in Mission (J & B Beaton) 3,800 2,200
S Japitana (Wavemakers) 3,000 3,300
St Peter's School 2,919 2,544
CARE 1,500 1,000
SASRA 1,500 1,000
The Source 1,500 1,000
Bible Society 1,500 1,000
CORD 1,500 1,000
Open Doors 1,500 1,000
Tearfund 1,500 1,000
Christian Aid 1,278 -
Christians Against Poverty 1,200 -
OtherGrants (£1,000 orless in2020)
Institutions ab28 5,245
Individuals 433 6,467
89,903 {7,220

24

:

Parochial Church Council of St Peter’s Church Farnborough FINANCIAL STATEMENTS (continued)

5

(continued)
StaffCosts
2021 2020
£ £
Wages and salaries 146,610 133,704
Social security costs 3,806 1,870
Pension costs 15,341 12,075
165,758 147,650

The Key Management Personnel (KMP) are considered to be the members of the PCC who are the trustees of the charity. The PCC consists of elected members, members of the ministry team ex officio.

During the year the PCC employed an Associate Vicar, Youth Minister, Children’s and Families’ Minister, Children’s and Families’ Minister Assistant, Worship Leader, ‘Christians against Poverty’ Manager, Operations Manager and six Administration Assistants, Organist, Gardener, Supervisory Caretaker, three Caretakers and two Cleaners, none of whom earned £60,000 per annum or more. The total number of staff employed was 20 (2020: 17).

The Associate Vicar was a member of the PCC and was paida stipend from his arrival in September 2021and the PCC paid £4,684 to the Diocese of Guildford for his employment, housing and pension costs. The Youth Minister and Children’s Minister were members of the PCC and were paid £20,202 (2020: £20,103) and £23,456 (2020: £18,317) respectively during the year. In addition the Youth Minister was provided with a house. These payments are permitted under s185 of the Charities Act 2011. The PCC also made contributions to workplace pension plans for Chloe Pollington, Helen Smith and Yo Kim of 10% of salary and for Anna Prescott, Margaret Roberts, Robert Dowse and Sarah Jones of 9% of nominal salary.

Included in wages and salaries are end-of-contract payments by mutual-agreement totalling £1,500 (2020: Enil).

During the year members of the PCC gave a total of £64,789 (2020: £78,539) in unrestricted offerings and donations and £17,120 (2020:£13,740) to the Mission Fund. The only expenses reimbursed to members of the PCC during the year and previous year were for expenses directly relating to the work of the Church.

During the year 6 PCC members were reimburseda total of £2,998 for general expenses (2020: £7,140 for 6 members) and 2 members were reimbursed of £146 (2020: £25 for 3 members) for training costs. Total remuneration of Key Management Personnel amounted to £25,295 (2020: £23,680). Members of the close family of the Key Management Personnel received salary of £460 (2020: £2,255) and no expenses (2020: £0).

Apart from as above there were no other disclosable transactions in respect of PCC members, persons closely connected with them or other related parties.

Parochial Church Council of St Peter’s Church Farnborough FINANCIAL STATEMENTS

25

6 Unrealised Gains/Losses

(continued)

PCC assets include the Freehold land and buildings comprising the Parish Centre, Church Avenue, Farnborough, the Youth Minister’s house - St Peter’s House, Rectory Road, Farnborough, and the Curate’s house - 14 Wilton Court, Farnborough.

The houses are revalued at each year end and the Unrealised Gains are the uplift between the valuations from one year to the next.

2021 2020 Gain
Valuation Valuation
£ £ Pa
St Peter’s House 650,000 625,000 25,000
14Wilton Wilton Court 375,000 365,000 10,000
1,025,000 990,000 35,000

7 FixedAssets for Use by the PCC

FixedAssets for Use byAssets for Use byfor Use byUse bybythe PCCPCC
Freehold Equipment Total
land and
buildings
Tangible fixedassets £ £ =
Gross bookvalue
At 1stJanuary 2021 1,671,863 166,832 1,838,696
Additions - 6,960 6,960
Disposals - (2,530) (2,530)
Revaluation (see Note 6) 35,000 - 35,000
At 31st December 2021 1,706,863 LPL262 Le7e les
Depreciation
At 1st January 2021 - 161,483 161,483
Charge for the year - 5,238 5,238
Depreciation ofdisposals - (2,530) (2,530)
At 31st December 2021 - 164,191 164,191
Netbookvalue
At 31st December 2021 1,706,863 7,071 1,713,934
At31stDecember2020 1,671,863 5,349 L677213

The gross book value of freehold land and buildings consists of the Parish Centre with a cost of £681,863 and St Peter’s House and 14 Wilton Court with a combined valuation of £990,000. The two clergy houses were valued by Michael Usher Sales & Lettings, estate agents and valuers on the basis of[fair][value][at][31st][December][2021.]

26 Parochial Church Council of St Peter’s Church Farnborough FINANCIAL STATEMENTS

(continued)

(continued)
& Debtors
Unrestricted Restricted 2021 2020
Funds Funds Total Total
E £ & £
Income tax recoverable 16,592 2,936 19,528 20,955
Inter fund balances (40) 431 aol 173
Other debtors 8,072 28 8,100 997
24,624 3,395 28,020 22,125
9 Liabilities:Amountsfallingdue withinoneyear
Unrestricted Restricted 2021 2020
Funds Funds Total Total
£ £ £ £
Inter fund balances 351 - aot 173
Accruals 4,808 - 4,808 4,002
Other creditors a,240 6,346 9,579 9,668
8,432 6,346 14,778 13,843

Parochial Church Council of St Peter’s Church Farnborough FINANCIAL STATEMENTS

27

(continued)

10 Restricted Funds

2021 Balance MovementsinFunds: MovementsinFunds: Balance
at31st Income Expenditure, atF1st
December2020 gains,lossesand December
transfers 2021
£ Po ra £
Restricted Funds:
Bellringers 1,957 545 405 2,097
Charities Fund 8 668 9 667
Cricket Club 236 164 118 283
Flower Fund 930 380 826 484
Mission Fund 26,653 70,488 82,223 14,918
Parish Building Fund 32,548 893 - 33,441
62,332 73,139 83,581 51,890
2020 Balance MovementsinFunds: Balance
at 31st Income Expenditure, at31st
December2019 gains, lossesand December
transters 2020
rel E £ £
Restricted Funds:
Bellringers 1,836 376 255 1,957
Charities Fund 1,784 231 2,007 8
Cricket Club 236 - - 236
Flower Fund 1,370 398 838 930
Mission Fund 27,998 69,941 70,886 26,653
Parish Building Fund 30,849 1,699 - 32,548
63,673 72,646 73,987 [oa
fo

The Restricted Funds consist of the following funds:

Fund

Parish Building Fund

Mission Fund

Other Church Groups

Purpose

Funds raised for capital building projects costing £20,000 or more. It has been used for the construction of the Church of the Good Shepherd, construction of the Parish Centre, restoration of the Church Tower, the Church Reordering Project and the 2018 Church Lighting Project.

Funds raised by parishioners for the express purpose of giving away to Mission.

These are funds held by the various Church Groups for the purposes specified.

28 Parochial Church Council of St Peter’s Church Farnborough FINANCIAL STATEMENTS

,

(continued)

11 Cash Flow from Operating Activities

11 (continued)
Cash Flow from Operating Activities
2021 2020
£ 5
Net income/(expenditure) Net income/(expenditure) for the year (as per the 104,216 35,539
Statement ofFinancial Activities)
Adjustments for:
- Depreciation charges 5,200 3,976
- (Gains)/losses on fixed assets (35,000) (40,000)
- Dividends, interest and rents from investments 24 166
- (Increase) /decrease in debtors (5,895) (142)
- Increase/(decrease) in creditors 935 2,729
Net cashprovidedby(usedin)operatingactivities 69,519 52,268