oe
,
Annual Report and Financial Statements
of the
Parochial Church Council
of the Ecclesiastical Parish of Crewkerne
For the year ended 315t December 2020
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Incumbent Vacant CHARITYFIRST COMMISSIONCONTACT 31 AUG 2021
Bank
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;
NatWest Bank 10 East Street - ‘Ilminster Somerset TA19 OAA
ACCOUNTS RECEIVED a - ~ oe
Diocese
Bath and Wells Diocesan Board of Finance The Old Deanery St Andrew's Street Wells Somerset BA5 2UG
.
Independent Examiner
.
.
S M Bachrach Chalmers & Co (SW) Ltd Chartered Accountants 6 The Linen Yard South Street Crewkerne Somerset TA18 8AB
| Deanery Synod Representative: Miss D Brown Elected members: Miss A Caddy; Mrs S Clark; Mrs A Cossins; Mrs J Cox; Mrs M E Curtis; Mrs H ' Leamon; Mrs H Royle (Treasurer from 15 January 2021) | Co-opted members: The Very Revd R Key; The Revd R D Newman (Acting PCC Secretary)
: | | ||
PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CREWKERNE ANNUAL REPORT FOR THE YEAR ENDED 31*t DECEMBER 2020
1. Reference and Administrative information
Registered Name: The Parochial Church Council of the Ecclesiastical Parish of Crewkerne.
(St Bartholomew's Church, Crewkerne)
Address: The Parish Office, Church Hall, Abbey Street, Crewkerne, Somerset, TA18 7HY
PCC Members: the PCC began the year with 14 members (7 elected; 5 ex-officio; 2 co-opted) and ended the year with 13. The ex-officio members were the Revd Stuart Huntley (Rector), the Revd Jonathan Morris (Associate Vicar, the Deanery Synod representative and the two Churchwardens.
In addition to the licensed clergy, the members were:
Churchwardens: Mrs C L A Newman; Mrs P L Smith.
Day-to-day management is delegated to the incumbent and the churchwardens, supported by the Benefice Administrator. The Revd Stuart Huntley resigned as Rector on 34% October 2020, and the Churchwardens are now the Sequestrators. :
- Structure, Governance and Management
.
The PCC is a charity registered with the Charity Commission, number 1127639, governed by the Church of England rules for PCCs.. ! .The members of the PCC are appointed according to arrangements set out in the Church Representation Rules. Members are recruited from those on the Church’s Electoral Roll and appointed for a three-year term. The appointment is made either by approval at the Annual Parochial Church Meeting or by election if necessary. New members are introduced to PCC procedures and workings by the churchwardens.
The PCC met 5 times in 2020. In addition to debating and acting collectively, the Council had the following teams: Communications; Buildings & Re-ordering; Mission; Events, Worship, Benefice Visiting, Benefice Schools. These teams met as frequently as required and the team leaders reported back to the PCC, making recommendations, seeking any necessary authorisations and approval of funding requirements.
With the post of Treasurer still vacant, the treasury functions were undertaken by a local firm of accountants, Chalmers & Co, with the Benefice Administrator undertaking the daily financial tasks. After the year end the book-keeping services transferred to Mrs H Royle, who was appointed Treasurer.
The post of Stewardship Secretary remains vacant and a replacement is urgently sought to increase the scope and scale of regular and irregular incomes.
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PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CREWKERNE
ANNUAL REPORT FOR THE YEAR ENDED 315t DECEMBER 2020 (Cont.)
2. Structure, Governance and Management continued
Volunteers play a large and appreciated part in the running of the church examples being church maintenance, carrying out sidesman’s duties and flower arranging.
The PCC is aware of the risks to which it may be exposed. Financial risk is managed through the PCC’s financial procedures and those of its accountants. Insurance continues to be with EIG. Statutory and legal requirements, in particular health & safety and safeguarding are closely-monitored by nominated individuals on the PCC and consents, processes, procedures and records are sought or maintained, as necessary. The PCC continues to comply with the General Data Protection Regulations.
3. Objectives and Activities
The PCC seeks to ‘co-operate with the Minister in promoting in the parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical’ (the PCC (Powers) measure 1956).
Because of the Covid-19 pandemic and the resignation of the Rector, most of the usual activities have been on hold in 2020, including plans for re-ordering.
No services were held after 15" March 2020 when the church was closed in line with government restrictions. “Messages” were posted online each Sunday and often midweek as well.
: From 26" July 2020 to 1s November 2020 a service of Holy Communion was held each Sunday at 9.30 am.
In the second lockdown from 8" November 2020 the church was open for private prayer each Sunday and Wednesday from 9.30 am to 1.00 pm, and a pre-recorded service was available via YouTube each Sunday.
From 6t" December 2020 to the end of the year, Holy Communion was celebrated at 10 am each Sunday and also on Christmas Day, and at 10.30 am each Wednesday. The online services continued each Sunday.
Social distancing and other pandemic restrictions were maintained at all these services. The numbers watching the online services were higher than would have been expected at services in church.
The trustees have paid due regard to the guidance given by the Charity Commission on public benefit when deciding what activities the charity should undertake.
4. Achievements and Performance
The Wedding Fair, scheduled for April, was cancelled because of the lockdown. A much reduced Christmas Tree Festival was held in December. It was not possible to hold the usual Christingle Service on Christmas Eve, but a pre-recorded “Virtual Christingle Service” was put online.
The Friends were able to stage a socially distanced Christmas Concert.
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! ANNUAL REPORT FOR THE YEAR ENDED 31St DECEMBER 2020 (Cont.)
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PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CREWKERNE
4. Achievements and Performance continued
The Quinquennial Inspection of the church was carried out at the beginning of December 2020. At the time of writing, the report is still awaited.
§. Financial Review
Overall Incoming Resources decreased from £77,056 in 2019 to £51,077 this year. The decrease is largely accounted for by reductions in income from collections, church boxes, hall hire and wedding fees due to the pandemic together with no legacies being received this year.
Most of the Church regular income comes from planned giving by the congregation. Along with additional collections and small donations this voluntary income amounted to £27,320, down on the previous year. Planned Giving income is down compared to last year although there were several ‘one-off donations last year.
This year the PCC did not receive any donations and legacies compared to £6,000 being received in the previous year when a legacy of £5,000 was left to the Church by the late Dorothy Tozer and a donation of £1,000 was received from one of the trustees.
There was a decrease in collections, Church Hall lettings, wedding and funeral fees and magazine Income.
Overall Resources Expended has also decreased being £108,295 compared to £135,384 in 2019, due mainly to expenditure on hall maintenance decreasing and a reduction in payments due to the Diocesan Common Fund.
Events and Activities costs decreased in the year largely due to decreased hall maintenance.
Costs directly relating to the Church decreased due mainly to Parish Share (payment to the Diocesan Common Fund) further decreasing from £57,796 in 2019 to £52,017 this year as the result of the previous full review of church membership in accordance with diocesan criteria. A further reduction arises in the current year.
Major church repairs and improvements decreased from £6,052 in 2019 to £1,882 this year relating to the West Window project,
Other costs decreased from £23,611 in 2019 to £19,778 this year.
Net total unrestricted funds needed to pay normal church and church hall costs (i.e. excluding major purchases and repairs) not covered by specific donations are £96,811 and for 2019 £114,465 giving a deficit of £48,944 this year and for 2019 £41,819.
This year a part of the investments was realised to provide funds which resulted in a gain over original cost of £40,460.
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PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CREWKERNE
ANNUAL REPORT FOR THE YEAR ENDED 315 DECEMBER 2020 (Cont.)
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5. Financial Review continued
Overall, the total funds of the PCC during the year decreased by £16,758.
The Investments are included at cost - the market value at the year-end was £439,913.
The PCC’s current policy is to invest major donations and legacies that are not used immediately with the CBF Investment Fund or, if more short term, placed on deposit with the CBF.
6. Reserves
,
The financial reserves which the charity sets aside will continue to provide financial stability and the means for the development of the principal activity. The PCC intends to draw on reserves to finance church mission and growth, while maintaining unrestricted funds at a level sufficient to meet the scheduled and unforeseen maintenance and replacement requirements of the fabric of the church.
7. Plans for Future Periods
Work on the fabric of the building will be necessary after the receiving of the Quinquennial Report. We hope to open up our worship and other activities as Covid-19 restrictions are lifted. Other plans are on hold pending the appointment of a new Rector.
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PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF
CREWKERNE
ANNUAL REPORT FOR THE YEAR ENDED 31%t DECEMBER 2020 (Cont.)
8. Statement of Members Responsibilities
The members are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the members to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity
and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
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e select suitable accounting policies, as described on page 9 and then apply them consistently; e observe the methods and principles in the Charities SORP;
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e make judgements and estimates that are reasonable and prudent;
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e state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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e prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The members are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial positionof the charity and enable them to ensure that the financial statements comply with the Charities Act 2011 and the Charity (Accounts and Reports) Regulations 2008. The members are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
C Noga
ee wee oem” bee tenae eee eeeeeees
(Churchwardens)
Date: 2 August 2021.
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INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICALPARISH OF CREWKERNE
| report on my examination of the accounts of the above charity (“the Trust") for the year ended 31% December 2020 set out on pages 7 to 17.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011(“the Act”).
| report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
| have completed my examination. | confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in any material respect:
-
e the accounting records were not kept in accordance with section 130 of the Charities Act, or
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e the accounts did not accord with the accounting records; or
° the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
| 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. ;
S M Bachrach, Chartered Accountant independent Examiner
Chalmers & Co (SW) Limited Chartered Accountants Trading as Chalmers & Co 6 The Linen Yard South Street Crewkerne Somerset
Date: 3 August 2021
6
PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CREWKERNE Statement of Financial Activities for the Year ended 315 December, 2020
|:
:
| Note | Unrestricted | Unrestricted | Restricted | Restricted | Restricted | Endowment | 2020 | 2019 | |||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Funds | Funds | Funds | Total Funds | Total Funds | |||||||
| £ | £ | £ | £ | £ | |||||||
| Charitable Activities Eee Donations |
27,320PoP Ps 4b |
27,320 | 39,134 6,000 |
||||||||
| Generating Funds 4c rvesimentincome |
4a__ | Othercone |
e_ | : TotalIncome pe |
8,209 11,038 ieol 47,867 |
1,846 oe |
see |
||||
| Expenditure On: | |||||||||||
| Raising Funds | |||||||||||
| Charitable Activities | |||||||||||
| Missions/Charitable | 1,147Ft | 1,147 | 1,568 | ||||||||
| Costs directly relating | |||||||||||
| to the Church | 5c | 71,359 | 9,602 | 80,961 | 87,490 | ||||||
| Others | |||||||||||
| MajorCapitalItems a | ‘omeccots __ |
se_ | TotalExpenditure oe |
tore} 96,811 |
1,882oe |
11,484 |
|||||
| NetIncome before other | _ | - | ~~ | - | |||||||
| Investment Asset Netmovementin Funds |
40,460 8,484 |
aan | 8,822 |
548 | 40,460 16,758 |
||||||
| forward 15Jan 2020 | 188,578 | 57,924 | 20,533 | 267,035 | 325,363 | ||||||
| Total funds carried | |||||||||||
| forward 315 Dec | |||||||||||
| a | 180,094 | = | 49,102 | 20,087 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
7
PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF | CREWKERNE
Statement of Financial Position at 31st December 2020
| Statement of Financial Position at 31st December 2020 a |
|
|---|---|
| a a£ £ |
|
| i a cd a |
|
| Sl ai a] |
|
| CURRENT LIABILITIES | |
| — | Lik Rc] sereunRerassers es |
| FNess 80H 188578 |
|
| a | Gd Bd |
| a |
Approved by the Parochial Church Council on 2 August 2021.and signed on its behalf by:
C No gigg e Deyee
(Churchwardens)
The notes on pages 9 to 17 form part of the accounts.
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PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CREWKERNE
Notes to the Accounts for the year ended 31° December 2020
- General Information
The PCC is a charity registered with the Charity Commission in England & Wales, number 1127639, and is unincorporated. The address of the principal office is The Parish Office, Church Hall, Abbey Street, Crewkerne, Somerset, TA18 7HY.
2. Statement of Compliance
The Financial Statements have been prepared under the historical cost convention and on an accruals basis in accordance with the Church Accounting Regulations 2006 and Charities Act 2011, together with applicable accounting standards, FRS 102 and the Charities SORP (FRS 102).
- Accounting Policies
Basis of preparation
The Financial Statements include all transactions, assets and liabilities for which the PCC is responsible in law, except for the capital value of the church hall for which a valuation has not been obtained. They do not include the Financial Statements of church groups that owe their main affiliation to another body. The financial statements are prepared in sterling, which is the functional currency of the entity.
Funds
See separate note 8.
income
Collections are recognised when receivable by or on behalf of the PCC. The income from social events etc. is accounted for gross of expenses at the time it is received. Rental income from the letting of church premises is recognised when receivable. Dividends and interest are accounted for when receivable. All legacies receivable are credited to the statement of financial activities as incoming resources. Donations under gift aid are recognised as income when the donation is received. Donations of items other than cash are included in income at current value. Income tax recoverable under the gift aid scheme is recognised at the same time as the donation to which they relate.
Expenditure
Resources expended are shown gross, including irrecoverable VAT, and are accounted for on an accruals basis. Costs are allocated directly to the category to which they relate or apportioned on an equitable basis where they involve more than one category. Where this allocation is not possible costs are allocated within “other costs”. Missionary and Charitable giving is accounted for when awarded and paid.
Fixed Assets
Consecrated and beneficed property is excluded from Financial Statements by s10(2) of the Charities Act 2011. No value is placed on movable church furnishings held by the churchwardens on special trust for the PCC and which require a faculty for disposal, since the PCC considers this to be inalienable property. All expenditure incurred during the year on consecrated or beneficed buildings and moveable church furnishings, whether maintenance or improvements, is written off as expenditure in the Statement of Financial Activities (SOFA) and separately disclosed in the notes to the Financial Statements. The value of the church hall is not included in the Balance Sheet as previously stated. All expenditure incurred in the year on maintenance or improvement of the property is written off as expenditure in the SOFA and separately disclosed in the notes to the Financial Statements. Other fixed assets over £1,000 are capitalised at cost and depreciated over 3 years on a straight line basis.
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9
| Investments | Investments are valued at original cost. The market value of these investments at the balance sheet | date is provided by way of note. | Current Assets : Amounts owing to the PCC at the balance sheet date are shown as debtors. | Short term deposits include cash held on deposit with CBF Church of England Funds.
PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CREWKERNE
Notes to the Accounts for the year ended 31%t December 2020 (cont)
)
Current Liabilities
Creditors are provided in the accounts when expenditure is incurred in the accounting year but not paid until later accounting periods.
Grants
Grants are accounted for on the basis of date of receipt.
Value Added Tax
The charity is not registered for VAT. VAT on certain repairs to the church building has been reclaimed under the Listed Places of Worship Scheme.
Judgements and key sources of uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Going concern
There are no material uncertainties about the charity's ability to continue, including considering the effects of Covid-19.
10
PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CREWKERNE
Notes to the Accounts for the year ended 31°* December 2020 (cont)
|4. INCOME — 2020
Unrestricted
Restricted
Endowment
2020
2019
SE
Ee ee
£
£
£
£
£
[4a. |CharitableActivities
==
|
CC
—C“‘ESSC“‘CCNCCLOUTCC
add
Donations
[|
Income Taxrecoverable[
ss4608|
CT
Cts (COB
925 |
|
|
Cher PlannedGiving]
1,281
|
CT
2811801|
| |
————sCoollectionsatallServices|
2,508] =
|
t—“(tisdrLC( (<$ 9B]
3K |
|__| Church Boxes and otherdonations|
1,884] —
|
C“CtéiéidL:C(SsCi,BBA]
3,019]|
|---|
|Legacies and Donations|
|PT
tegaciesfC
5,000 |
PT
therDonations [|
TCTC1000|
|Activities for Generating Funds|
|| rT
SSSSSCChurch HallLettings[
1,315]
||
815]
1,794|
| dT
MagazineIncome{[
1,997]
CT
E97]
8872 |
[| |___SocialEvents&CoffeeSales[
|CC(itisdTC(“‘SdTCC‘CTC
880|
[| |
ssChristmasTreeFestival|
=
ss |
TC CT
pT
WeddingFees{
2638]
|
Cd
8B
C078|
| {|tt—“‘ONCCFuneralFees{
0
2.259[
|
TOIT|
|aRO
OY
| 4d.|Investmentincome
|
Cd CC
|Of
iidends |
10,913]
1,846]
517|
13,276|
13,778 ||
|Other Income|
||
|
Contributionfrom Hewish[|
1,300
|
Cid
1800]
1,300 |
Pt
Otherincome[T1853
|*
| dt
ATReclaimed]
CTS
1156|
|||Totalincome —
—“‘CCSCCSC 87
662]
548] 51,077
—77,056 |
a|
11
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PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CREWKERNE
Notes to the Accounts for the year ended 31%t December 2020 (cont)
|4. INCOME - 2019ee
Funds
Funds
Funds
Total
Total
£
£
£
£
£
[4a. |CharitableActiviies =
|Ct(dT
CT
t—“‘i(RSSCSCti‘“(T OST
Peers emer
Donations
[|
Income Taxrecoverable[
6.925]
|“tsCdrEC((SC 9Z5|
14,898 |
[|
SSCtherPlannedGiving]
1891
ECE
BOT
682 |
|
[
CollectionsatallServices[7.460[
886| C(t
88K |
8,225|
|_|_Church Boxesandotherdonations|
3,019|
|
—“(‘tsé‘dLSC(‘éSONO
3,836 |||
|---|---|
|Legacies and Donations||
|Pf
egacies[
5000
CE
t—“‘;‘iRSSC‘éS‘NNY|
3,000
[|
|
CiDonations-‘Friendss[
|
tid
CT
50,000 |
| {|
SSSCS~~~CterDonations[1000{ (iC
C“(t:CdC
OO
25,000 |||
|Activities for Generating Funds
;||
|[Church
HallLettings[
1,794) TC
04|
3,940|
|ft
MagazineIncome[
3.8727
|
887245 |
|
|SocialEvents&CoffeeSales|
(“2307 |
280851
|
|
—~————ChristmasTreeFestival{
—s_s§$«76{Ct(i|tC“‘RSC4G
5899 |*
|of
WeddingFees[ (078
TC(CCB
1656
PT
FuneralFees]|
2671, |
T4678 |||
|a
fe
DO
|4d.[Investmentincome (TC s—“‘idSsi‘(
tC(Cid
|
|
C—~—“‘CNCCDWidends<(|
11,134 [
2,214]
430 |
13,778|
13,442 |||
|Other Income|,|
|| | Granttowards costofAdministrator[|
|
(ts
C“‘iESCC“‘éCOYT,:SC C3000 |
|
|
OtherIncomefT
178:
| {|
——CSVACTReclaimed {|
528]
2B“(STO
12,044|||
||__|Totalincome ss
—“‘iTsSiC
72,46]
8,881]
529]
77,056]
181,011 |
Pf
T—OCC“‘#EED.LCOCT:C(‘“(C
ee
a
CC||
12
PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CREWKERNE
Notes to the Accounts for the year ended 31** December 2020 (cont)
| 5. EXPENDITURE - 2020 |
|---|
| Unrestricted Restricted Endowment 2020 2019 Funds Funds Funds Total Total re |
| Costs of Events and Activities |
| PT allRunningCosts[ 2,114 TT 4 |
| a QR GG |
| Directly relating to the Church |
| Other costs |
| i Stationery, Officecosts |
| ———————E |
13
PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CREWKERNE
Notes to the Accounts for the year ended 31** December 2020 (cont)
| 5. EXPENDITURE - 2019 ; |
||
|---|---|---|
| Unrestricted Restricted Endowment 2019 2018 unds Funds un |
||
SSC RunningCosts[ 2,292, |
||
| aQO |
5b. | MissionsandCharitableGiving [ |
| Directly relating totheChurch |
~~———dDiocesanCommonFund | |
| 5d. | MajorPurchases/Repairs |
|
| Other costs | ||
| aed Stationery, Officecosts |
{ | ParishAdministrator** |
| _ | TotalExpenditure |
14
PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CREWKERNE
Notes to the Accounts for the year ended 31°t December 2020 (cont)
6. FIXED ASSETS
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||||||
|---|---|---|---|---|
|Gross|Book|Value|
|At 315|December 2020||| 1,440.00||
|Depreciation|
|At|1%|January|2020|1,440.00|
|For|the|year|——i.00|
|At.|315|December|2020|___1,440.00|
|Net Book Value|At|15 January 2020||0.00|.|
|At|31st December 2020||(0.00||
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|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|7.|ANALYSIS|OF|NET ASSETS|BY|FUND|
|po|20202019|
|Unrestricted|||Restricted|| Endowment|||Total|Funds|||Total|Funds|
|Funds|Funds|Funds|£|£|
|£|£|£|
|TangibleFixedAssets||OT|
|4759;|||4,759|4,848|
|1540)||1,540|4,612|
|Short Term|Deposits|ee|12,599|12,599|22,585|
|Cash|at|Bank|and|in|Hand|13,410|1,873|15,615|5,829|
|NET ASSETS|180,094||49,102]—.21,081|||250,277|267,035|
|eeeOOOO|
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8. FUND DETAILS
Restricted Funds
.
These funds arise from donations given for specific purposes. Funds include those restricted to fabric, roof and clock repairs; for the organ, music and other items. In addition, funds from special services and associated donations are held temporarily to be distributed to the relevant charities and missionary organisations. Details are shown in note 14.
Endowment Funds
Income from the E S Lang Fund supports the costs of assistant clergy in the parish. Income from the Sparks Fund is unrestricted but the PCC intends the money to be used for education purposes in the parish.
Unrestricted Funds
Unrestricted Funds represent the funds of the PCC that are not subject to any restriction regarding their use and are available for application on the general purposes of the PCC. They include funds designated for a particular purpose by the PCC.
The M L Tompsett and WG Isaacs Legacies are unrestricted and form the major endowment of the church.
;
15
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PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF
CREWKERNE
Notes to the Accounts for the year ended 31°* December 2020 (cont)
| 9. | INVESTMENTS | |||||
|---|---|---|---|---|---|---|
| Tompsett | Lang | Isaacs | Totals | |||
| £ | £ | £ | £ | |||
| Cost at 315* December 2019 | 81,776 | 6,609 | 150,000 | 238,385 | ||
| Disposals atcost | (19,541) | 0 | 1) | (19,541) | ||
| Cost at 31st December 2020 | 62,235 | 6,609 | 150,000 | 218,844 | ||
| Value at 31% December 2019 | 247,985 | 14,333 | 208,611 | 470,929 | ||
| Value at 315 December 2020 | 201,708 | 15,249 | 222,956 | 439,913 | ||
| AccumulatedUnrealisedGain | 139,473 | 8,640 | 72,956 | 221,069 |
The Tompsett investment represents 9,845.51 Income Shares in The CBF Church of England Investment Fund.
The Isaacs Investment represents 10,882.66 Income Shares in The CBF Church of England investment Fund. It is held by the Diocese as Custodian Trustee.
The Lang investment represents 846.64 Income Units in the COIF Charities Investment Fund. These investments are all held within the UK.
10. RELATED PARTIES
A salary of £9,799 was paid to Mrs L Huntley, the Wife of Reverend S Huntley, as Benefice Administrator. Reverend S Huntley resigned on 3" October 2020. No other related party to the Parochial Church Council has been paid or is payable remuneration or other benefits or expenses from the funds of the Parochial Church Council.
11. STAFF COSTS
Staff Costs of £9,799 relate to the Benefice Administrator, the only employee. There were no employees with earnings in excess of £60,000.
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PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CREWKERNE
Notes to the Accounts for the year ended 31%* December 2020 (cont)
12. INDEPENDENT EXAMINER’S REMUNERATION
Fee for independent examination £720 (2019: £600) and for other accountancy services {including payroll) £6,048 (2019: £6,850).
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13. DEBTORS
| 2020 | 2019 | |
|---|---|---|
| Trade Debtors | 756 | 157 |
| VAT Recoverable | 816 | 1,156 |
| Gift Aid Tax Recoverable | 3,187 | 3,535 |
| 4,759 | 4,848 |
14. ANALYSIS OF RESTRICTED FUNDS
| 1 | Jan 2020 | income | Expenditure 31 Dec 20 | Expenditure 31 Dec 20 | |
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| Clock | 5,718 | 229 | - | 5,947 | |
| Flowers | 331 | - | - | 331 | |
| Mission | 1,052 | 42 | - | 1,094 | |
| Music | 4,459 | 178 | - | 4,637 | |
| Pew Cushions | 834 | 33 | - | 867 | |
| Roof | 32,084 | 1,283 | _ | 33,367 | |
| West Window and | |||||
| Fabric | 13,446 | 897 | 11,484 | 2,859 | |
| 57,924 | 2,662 | 11,484 | 49,102 |
The above restricted funds are held within Investments £48,770 and in cash & bank current account £332.
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