The Parochial Church Council of
St. John the Baptist, Our Lady & St. Laurence Thaxted
Annual Accounts and Financial Statements for the year ending 31 December 2020
Page 1
Annual Accounts for 2020
Background
The Parochial Church Council (hereafter “PCC”) has responsibility, under the present chairmanship of Fr. Philip Tarris, for the promotion of the ecclesiastical parish of the whole mission of the church — pastoral, evangelical, social and ecumenical and for the running, maintenance and daily upkeep of the parish church of St. John the Baptist, Our Lady and St. Laurence, Thaxted.
in order to best achieve this, the PCC is fully registered as a charity with the Charity Commission under registration number: 1127752
Membership of the PCC
Members of the PCC are either elected by the Annual Parochial Church meeting or are appointed ex-Officio, in accordance with the Church Representation Rules. Occasionally, a member may be co-opted where specialist skills are required.
During the 2020 financial year, the following people served as members of the PCC:
| Chairman | Fr Philip Tarris | ||
|---|---|---|---|
| Churchwarden | Ann Pickhaver | ||
| Paul Meader | |||
| Secretary | Maryanne Fleming | (Co-opted) | |
| Treasurer | Philip Staker | (Co-opted) | |
| PCC Member | Heather Bull | ||
| Edward Gallier | |||
| Joan Gray | (To October 2020) | ||
| Sean Martin | (From October2020) | ||
| Stephen Odom | |||
| Sheilah Rengert | |||
| Perry Staker | (From October2020) | ||
| Michael Tayler | (To October2020) | ||
| Janet Walker | (To July 2020) | ||
| Ex-Officio | FrChris Brown Dee Barrington Margaret Caton |
(Associate Priest) (Deanery Synod) (Deanery Synod) |
(To July2020) (From October2020) |
| Maggie Catterall | (Deanery Synod) | ||
| Maureen Edwards Susannah Lacon |
(Deanery Synod) (Assistant Curate) |
(To October 2020) | |
| Antony Wordsworth AdrianWright |
(Deputy Churchwarden) (LicensedReader) |
(To October 2020) |
Committees
The PCC operates, in part, through committees which meet in addition to the main PCC meetings.
Standing Committee This committee is required under ecclesiastical law. It has the power to transact the business of the PCC between its meetings, subject to any directions given to it by the main PCC.
Estates Committee (formerly the Building Committee)
To maintain the fabric of the Thaxted Church estate and to improve the facilities that can be offered.
Finance Committee Oversees the income, expenditure and financial governance of the PCC, producing budgets and recommending financial policies for the full PCC to approve.
Fundraising Committee
To facilitate and organise fundraising events on behalf of the PCC.
Lincoln Organ Committee
To co-ordinate all matters regarding the restoration of the Lincoln Organ on behalf of the PCC.
Worship, Nurture and Mission Committee
To support and encourage growth in the worship of God within all sections of the Parish community.
Page 2
Church attendance
There were 87 parishioners recorded on the Church Electoral Roll in 2020,14 of whom lived outside the Parish (from 90 & 17 in 2019 and 87 & 16 in 2018).
The average number receiving communion on Sundays was 54 (from 62 in 2019 and 57 in 2018). Most of the reduction in this can be attributed to the restrictions placed on churches due to the pandemic. This is further demonstrated by the fact that any form of regular Sunday worship (8am, 10am or a 10am Open Doors service) was only available on 20 Sundays in 2020. During the pandemic restrictions imposed on the clergy and church members, weekly e-mails containing the pew sheets, bible readings and thoughts / reflections, along with recorded video prayers from in and around the benefice enabled parishioners to keep a connection with the church community.
Statement of Trustees’ / PCC members' responsibilities
The purpose of this statement is to distinguish the members' responsibilities for the financial statements from those of the Independent Examiners as stated in their report.
The Charities Act 2011 requires the members to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the year and of its financial position at the end of the year.
In preparing the financial statements, the members followed best practice and:
-
Selected suitable accounting policies and applied them consistently.
-
- Made judgements and estimates that are reasonable and prudent, - Followed the recommendations of the Charity Commission and of the accounting professions with regard to form and content of the financial statements or undertook to disclose and explain any departure therefrom, and
-
- Prepared the financial statements on the going concern basis unless it was inappropriate to assume that the charity will continue to meet its objectives.
The members were reminded that they are responsible for keeping accounting records which are sufficient to disclose, with reasonable accuracy, the financial position of the charity at any time, and to enable them to ensure that the financial statements comply with the disclosure regulations. They are also reminded that they responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the Parochial Church Council at a full meeting and signed on their behalf.
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FrRector Philip / Ch T a rrisirman
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Dated: Deguakasdoit
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Page 3
Seep isaneannoeiaieeniniconeeerees sta ae SU A
Report of the Independent Examiner to the Parochial Church Council of St. John the Baptist, Our Lady and St. Laurence, Thaxted.
We have evaluated the financial statements of the Parochial Church Council for the year ended 31st December 2020 which comprise the Statement of Financial Activities, the Balance Sheet and the related notes set out on pages 5 to 10.
These financial statements have been prepared under the historic cost convention and in accordance with the accounting policies set out therein.
Respective responsibilities of members and accountants
The members’ responsibilities for preparing the financial statements in accordance with applicable law, charity accounting practice and (where appropriate) United Kingdom accounting standards are set out on page 3 of the report of the trustees.
We report to you our opinion as to whether the financial statements give a true and fair view and are properly prepared in accordance with the guidelines within the Charities Act 2011. We also report to you whether in our opinion the information given in the trustees’ report is consistent with the financial statements.
In addition, we report to you if, in our opinion, the charity has not kept proper accounting records, or if we have not received all the information and explanations we require for our assessment.
We read the trustees’ report and consider the implications for our report if we become aware of any apparent misstatements within it.
Basis of accountant's opinion
We have examined the paperwork and sought evidence to verify the amounts and disclosures in the financial statements. It also includes an assessment of the significant estimates and judgements made by the trustees in the preparation of the financial Statements, and of whether the accounting policies are appropriate to the charity's circumstances, consistently applied and adequately disclosed. We planned and performed our judgement so as to obtain all the information and explanations which we considered necessary in order to provide us with sufficient evidence to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or other irregularity or error. In forming our opinion, we also evaluated the overall adequacy of the presentation of information in the financial statements.
Opinion
In our opinion:
- The financial statements give a true and fair view, in accordance with United Kingdom generally accepted accounting practice applicable to charities, of the state of affairs of the charity as at 31st December 2020 and of the results of its activity for the period then ended; - The financial statements have been properly prepared in accordance with the guidelines within the Charities Act 2011; and the information given in the trustees' report is consistent with the financial statements. ae RIDGELL & CO Dated: [2 [o3f 224 Accountants The Counting House, Watling Lane, Thaxted, Essex CM6 2QY
Page 4
Statement of Financial Activities
For the year ending 31%t December 2020
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|||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|Unrestricted|Designated|Restricted|Endowment|
|Income|and|endowments|from:|Notes|funds|funds|funds|funds|2020|2019|
|Donations|and|legacies|2(a)|37,816|566|360|——|38,742|56,084|
|Other trading|activities|2(b)|1,450|386|—|—|1,836|7,983|
|Investments|2(c)|—|——|——|2,281|2,281|4,142|
|Other|income|2(d)|12,832|188|31,501||44,522|61,661|
|Total|income|52,098|1,141|31,861|2,281|87,383|129,871|
|Expenditure|on:|
|Raising|funds|3(a)|379|—|—|a|379|405|
|Expenditure|on|charitable|activities|3(b)|40,945|100|=|_|41,045|45,467|
|Other|expenditure|3(c)|27,929|1,230|23,550|—|52,709|86,221|
|Total|expenditure|69,254|1,330|23,550|—|94,134|132,094|
|Net income|/|(expenditure)|resources|(17,155)|(189)|8,311|2,281|(6,751)|(2,222)|
|before|transfer|
|Transfers|
|Gross|transfers|between|funds|-|in|10,000|577|15,500|—|26,077|30,658|
|Gross|transfers|between|funds|-|out|(16,077)|—|___(10,000)|—|(26,077)|(30,658)|
|Net movement|in|funds|(23,233)|388|13,811|2,281|(6,751)|(2,222)|
|Total|funds|brought forward|77,528|11,578|26,417|22,645|138,168|140,391|
|Total|funds|carried|forward|54,294|11,966|40,228|24,927|131,417|138,168|
|Definition|of fund|types|
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Unrestricted funds are monies available to the PCC / Trustees for general use, without restriction.
Designated funds are monies which the PCC has set aside for a specific purpose, but it is within their remit to decide to reallocate these funds at any time, through a positive vote at a properly constituted meeting, for another purpose.
Restricted funds represent monies that are required to be used for the purpose that they are granted or collected. If these funds cannot be used for the purpose for which they were granted or collected, they cannot be re-allocated by the PCC but must either be held for a time until the restriction can be met or must be disposed of in accordance with Charity Commission guidance e.g. to another charity with aims that match the restriction.
Endowment funds represent monies that have been left to the church for a long-term purpose. These funds are restricted as above and generate income which is either reinvested or used for the purpose that the monies were endowed for.
Page 5
Balance sheet
as at 31S' December 2020
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|---|---|---|---|---|---|---|---|---|
|2020|2019|
|Current|assets|Notes|
|Investments|4|24,927|22,645|
|Cash|at|bank|and|in|hand|4|105,935|115,403|
|130,862|138,048|
|Liabilities|
|Creditors:|Amounts|falling|due|in one year|4|(554)|(120)|
|(554)|(120)|
|Net|current assets,|less|current|liabilities|131,417|138,168|
|Total|assets,|less|current|liabilities|131,417|138,168|
|Total|net assets,|less|liabilities|131,417|138,168|
|Represented|by|
|Unrestricted|
|General|fund|5|54,294|77,528|
|Designated|
|Catering|Fund|5|1,990|1,967|
|Chat|Café|5|1,527|1,451|
|Literature|Provision|5|1,955|2,095|
|Restoration|Fund|(Designated)|5|6,448|6,063|
|Restricted|
|Becket|Chapel|Window|Restoration|5|6,276|(9,207)|
|Furniture|Fund|5|963|963|
|J.|Sheppard's|fund|for|External|Lighting|5|2,930|2,928|
|Provision|of|Raiment|5|83|82|
|For the|Maintenance|of the|Bells|5|1,072|1,071|
|Maintenance|of the|Vicarage|5|322|321|
|Thaxted|Church|Music|Fund|5|219|219|
|Replacement|Lighting|Project|5|3,973|5,916|
|Restoration|Fund|(Restricted)|5|15,467|15,407|
|Maintenance|of the|Churchyard|5|—_—|(200)|
|Kitchen,|Toilet|&|Meeting|Room|Fund|5|3,939|3,935|
|Decorating|the|South|Aisle|5|4,981|4,977|
|Endowment|
|Chancel|Trust|5|24,927|22,645|
|Funds|of the|church|131,417|138,168|
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For the year ending 31%‘ December 2020
Notes on the Financial Statements
1. Accounting policies
General Principles:
These financial statements have been prepared under the current Church Accounting Regulations and in accordance with the current Charities SORP and applicable accounting standards.
Funds:
Unrestricted funds represent the funds available to the PCC that are not subject to any restrictions regarding their use and are available for application on the general purposes of the PCC. These include any funds which the PCC has itself designated for a specific purpose.
The purpose of other funds, restricted by the circumstances or conditions of their receipt, is noted in the financial statements.
Resources classified as ‘Endowments’ will be treated as long term investments by the trustees and only the interest received on each investment will be available for re-investment or use for the purpose intended by the person / body who donated the funds, subject to any separate and distinct agreement on a particular endowment.
Incoming resources:
Collections and fees are dealt with in the financial statements when received. Covenanted receipts are dealt with when honoured by the covenanter. Tax recoverable is recognised in the financial receipt when certified as due by and received from the relevant tax authority. Grants and legacies are accounted for when received or are able to be quantified with substantial accuracy. The proceeds of fund-raising and sales of magazines and other goods are shown gross, and corresponding costs being shown in resources used.
Resources used:
Grants and donations are accounted for when paid. Costs relating to work, fund-raising and administration are dealt with when incurred. Stocks of literature and goods for sale are included in the financial statements only if materially significant.
The Diocesan quota is accounted for when payable and any quota unpaid as at 31 December is shown as a creditor on the balance sheet.
Restatement of Prior Year Classifications
Where it is found to be necessary to reclassify income or expenditure, either through enhanced information or changes to how particular items should be classified, the prior year will be restated within the current year’s accounts to ensure a fair and accurate comparison.
Value Added Tax:
Irrecoverable Value Added Tax is written off as part of the relevant cost. Value Added Tax recoverable in connection with repair work is shown specifically as an incoming resource.
Other current assets:
Quantifiable amounts due to the PCC as at 31 December are shown as debtors on the financial statements after deducting any amount likely not to be collectable.
Page 7
2. Income
2(a) Donations and legacies
| 2(a) Donations and legacies | ||||||
|---|---|---|---|---|---|---|
| Total | ||||||
| Giving -Bank S/O Parish GivingScheme Free Will Offering - Envelopes Loose plate collections One-offGiftAid gifts Donations appeals etc ‘Black Chest’ Donations ‘Restoration’ Wall Safe |
Unrestricted 3,190 27,937 3,978 705 902 1,000 - 104 |
Designated - - 230 - 56 - 274 6 |
Restricted - - - - 360 - - - |
Endowment - - - - - - - - |
2020 3,190 27,937 4,209 705 1,318 1,000 274 110 |
2019 3,310 27,636 8,733 1,009 14,752 - 206 439 |
| Total | 37,816 | 566 | 360 | - | 38,742 | 56,084 |
| a | ||||||
| 2(b) othertrading activities | ||||||
| Total | ||||||
| Bookstall sales -fund raising Church Lettings -General Church Lettings - Heating Total |
Unrestricted - 1,250 200 1,450 |
Designated 387 - - 387 |
Restricted - - - - |
Endowment - - - - |
2020 387 1,250 200 1,837 |
2019 1,669 5,840 475 7,984 |
| nr | ||||||
| 2(c) Investments | ||||||
| Total | ||||||
| Gains /Losses on Trust Revaluation Total |
Unrestricted - - |
Designated - - |
Restricted - - |
Endowment 2,282 2,282 |
2020 2,282 2,282 |
2019 4,142 4,142 |
| a ee ee eea ee ee |
||||||
| 2(d) other income | ||||||
| Total | ||||||
| Tax recoverableonS/O& GiftAid Tax recoverable on Giving Scheme Recurring grants Non-recurring one-offgrants Yardley’s Charities Thaxted Parish Council Restoration Grants (Non-Specific) Otherfunds generated Candle Collection Catering Income May & Christmas Fayres Fundraising Committee Events Organ Recitals /ScholarVisits Bankand building society interest Fees forweddings and funerals Wedding Fees for Choir Total |
Unrestricted 1,091 6,985 - - . - - 331 206 - - - - 48 4,172 - 12,833 |
Designated - - - - - - . = - 83 - 105 - - - - 188 |
_Restricted - - 10 22,930 2,500 2,000 4,051 - - - - - - 11 - - 31,501 |
Endowment - - - - ~ - - = - - - - - - - - - |
2020 1,091 6,985 10 22,930 2,500 2,000 4,051 331 206 83 - 105 - 59 4,172 - 44,522 |
2019 9,663 6,960 10 22,668 - 2/150 - 1,001 749 901 10,363 1,800 75 110 5,087 125 61,661 |
| a |
Page 8
3. Expenditure
3(a) Raising funds
| 3(a) Raising funds | |||||||
|---|---|---|---|---|---|---|---|
| Total | |||||||
| Costs offetes&otherevents Cost ofCreditCard Machine go er |
Unrestricted Designated - . 379 - Le le erie |
Restricted Endowment - - - - — il er can cay |
2020 - 379 ee |
2019 138 267 een py |
|||
| 3(b) Expenditureon charitable activities | |||||||
| Total | |||||||
| Giving -Missionary societies Giving - Reliefand development agencies Home mission Secularcharities Ministry parish share etc |
Unrestricted - - 188 105 40,652 Total 40,946 |
Designated - - 100 - - 100 |
Restricted - - - - - - |
Endowment - - - - - - |
2020 - - 288 105 40,652 41,046 |
2019 60 2,000 584 125 42,699 45,468 |
|
| x—W—X<a—=—n090M | |||||||
| 3(c) Other expenditure | |||||||
| Total | |||||||
| Unrestricted OrganistFees 6,000 ParishAdministrator 1,980 Expenses ofMinistryTeam 343 Church running -Insurance 6,767 Parish Office -Telephone 76 Parish Office - Consumables 202 Organ/ pianotuning 776 Church running - Maintenance 2,440 Church running - Cleaning & Laundry 451 Church running - Catering - Church running - Flowers - Church running - Service (Consumables) 1,220 Church running - Service (Assets) 144 Upkeep ofchurchyard ~ Administration 691 Fees Payable tothe Diocese 250 Church running - Electric 810 Church running -Gas 523) Church running -Water 87 Church running - Heating and Lighting - Bookstall costs - Governance costs - Examination / Audit |
Designated - - - - - - - - - 171 633 - - - - - - - - - 426 |
Restricted - - - - . - - 776 - - - - - 3,886 - - - - - 198 - |
Endowment - - - - - - - - - - - - - - - - - - - - - |
2020 6,000 1,980 343 6,767 76 202 776 3,217 451 171 633 1,220 144 3,886 691 250 810 5,123 87 198 426 |
2019 6,122 3,980 1,102 6,650 243 537 210 2,793 30 123 1,054 1,874 473 11,734 651 246 819 5,077 81 > 1,250 |
||
| Fee Church majorrepairs -structure Church major repairs - installation Church - Lighting Project Vicarage - Internal & External |
570 - - - |
- - - - |
- 14,466 804 3,421 |
- - - - |
570 14,466 804 3,421 |
570 37,904 - 960 |
|
| Decoration | - Total 27,929 |
- 1,230 |
- 23,550 |
- - |
- 52,710 |
1,140 86,221 |
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Page 9
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4. Statement of assets and liabilities
as at 31 December 2020
| Current assets - Cash at bank & in | Current assets - Cash at bank & in | hand | Unrestricted | Unrestricted | Designated | __Restricted _Endowment | __Restricted _Endowment | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Barclays - Current Account Barclays - Restoration Account SantanderAccount CAF Bank - High Interest Cash in Hand |
3,527 - 868 49,901 - |
11,393 30 543 - - |
628 15,710 - 23,336 - |
- - - - - |
15,548 15,740 1,411 73,236 - |
21,354 12,943 7,930 TOAT? - |
||||
| Totals | 54,295 | 11,967 | 39,674 | - | 105,935 | 115,404 | ||||
| Current assets - Investments | ||||||||||
| Chancel Trust | - | - | - | 24,927 | 24 927 | 22,645 | ||||
| Totals | - | - | - | 24,927 | 24,927 | 22,645 | ||||
| Liabilities -Agency accounts |
||||||||||
| Agency collections | Totals | - - |
- - |
(555) (555) |
- - |
(555) (555) |
(120) (120) |
|||
| Grand total | 54,295 | 11,967 | 40,229 | 24,927 | 131,417 | 138,169 | ||||
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| 5. Statement ofthe movement offunds | ||||||||||
| For the year ended 31st December2020 | ||||||||||
| Fund | Balances | Incoming | Outgoing | Transfers | Gains/ | Fund | Balances | |||
| Unrestricted Funds | broughtforward | Resources | Resources | Losses _ carriedforward | ||||||
| General fund | 77,528 | 52,099 | 69,254 | (6,078) | - | 54,295 | ||||
| Designated Funds | ||||||||||
| Catering Fund Chat Café |
1,968 1,452 |
83 230 |
61 110 |
- - |
- - |
1,990 1,572 |
||||
| Flower Fund | - | 56 | 633 | 578 | - | - | ||||
| Literature Provision Restoration Fund |
2,095 6,063 |
387 385 |
526 - |
- - |
- - |
1,956 6,448 |
||||
| Restricted Funds | ||||||||||
| Becket ChapelWindow Restoration Decorating the South Aisle Furniture Fund |
(9,207) 4,978 964 |
26,981 4 - |
13,998 - - |
2,500 - - |
- - - |
6,276 4,982 964 |
||||
| Heating Fund | 3,936 | 3 | - | - | - | 3,939 | ||||
| Kitchen, Toilet & Meeting Room Fund | - | 50 | 974 | 924 | - | - | ||||
| J.Sheppard'sfundforExternal | Lighting | 2,928 | 2 | - | - | - | 2,931 | |||
| Maintenance ofthe Bells | 1,071 | 1 | - | - | - | 1,072 | ||||
| Maintenance ofthe Churchyard | (200) | 2,010 | 3,886 | 2,076 | - | - | ||||
| Maintenance ofthe Vicarage | 322 | 0 | - | - | - | 322 | ||||
| Provision ofRaiment | 83 | 0 | - | - | - | 83 | ||||
| Replacement Lighting Project | 5,916 | 2,750 | 4,693 | - | - | 3,973 | ||||
| Restoration Fund | 15,407 | 60 | - | - | - | 15,468 | ||||
| Thaxted Church Music Fund | 219 | - | - | - | - | 219 | ||||
| Endowment Funds | ||||||||||
| Chancel Trust | 22,645 | 2,282 | - | - | - | 24,927 | ||||
| Total | 138,168 | 87,383 | 94,135 | ~ | - | 131,417 |
5. Statement of the movement of funds
For the year ended 31st December 2020
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