## 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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Page 6
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—XOrganistFees
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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Seee ee See ee ee ee ee ee
## 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|
|pee
eeO_o|||||||ee|ee||el|
|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
Page 10