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2021-12-31-accounts

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 2021

Page 1

Annual Accounts for 2021

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.

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 (Until July 2021)
Churchwarden Ann Pickhaver
Paul Meader
(Also acting Chairperson from July 2021)
Secretary Maryanne Fleming
Treasurer Philip Staker (Co-opted)
PCCMember Heather Bull (To May2021)
Edward Gallier
Anna Lee (From May 2021)
Sean Martin
Stephen Odom
Perry Staker
Michael Tayler (From May 2021)
Ex-Officio Fr Chris Brown (Co-opted)
Dee Barrington (Deanery Synod)
Margaret Caton (Deanery Synod)
Maggie Catterall (Deanery Synod)
Susannah Lacon (Assistant Curate)
AdrianWright (LicensedReader)

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 85 parishioners recorded on the Church Electoral Roll in 2021, 17 of whom lived outside the Parish (from 87 &14 in 2020 and 90 & 17 in 2019).

The average number receiving communion on Sundays was 57 (from 54 in 2020 and 62 in 2019). Most of the continued reduction in this can be attributed to the restrictions placed on churches due to the pandemic and any form of regular Sunday worship (8am, 10am or a 10am Open Doors service) only became available from 28 March 2021. The slight increase in average numbers does give hope for a demonstrable recovery in 2022. 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:

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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Page 3

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 215t December 2021 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:

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Page 4
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Statement of Financial Activities

For the year ending 31St December 2021

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||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---| |Unrestricted|Designated|Restricted|Endowment| |funds|funds|funds|funds|2021|2020| |Income|and|endowments|from:|Notes| |Donations|and|legacies|2(a)|37,357|72|600|-|38,029|38,742| |Other trading|activities|2(b)|3,026|489|-|-|3,515|1,836| |Investments|2(c)|-|-|-|4,345|4,345|2,281| |Other|income|2(d)|23,905|2,304|5,878|-|32,087|44,522| |Total|income|64,288|2,866|6,478|4,345|77,978|87,383| |Expenditure|on:| |Raising|funds|3(a)|456|238|-|-|694|379| |Expenditure|on|charitable|activities|3(b)|41,520|-|-|-|41,520|41,045| |Other expenditure|3(c)|26,431|1,792|8,710|-|36,935|52,709| |Total|expenditure|68,409|2,031|8,710|-|79,150|94,134| |Net income|/ (expenditure)|resources|(4,120)|835|(2,232)|4,345|(1,172)|(6,751)| |before|transfer| |Transfers| |Gross|transfers|between|funds|-|in|-|817|5,760|-|6,577|26,077| |Gross transfers|between|funds|-|out|(6,577)|-|-|-|(6,577)|(26,077)| |Net movement|in funds|(10,698)|1,652|3,528|4,345|(1,172)|(6,751)| |Total funds|brought forward|54,294|11,966|40,228|24,927|131,417|138,168| |Total funds|carried forward|43,596|13,619|43,756|29,272|130,244|131,417|

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Definition of fund types

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

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|||||||||||| |---|---|---|---|---|---|---|---|---|---|---| |as|at|315'|December|2021| |2021|2020| |Current|assets|Notes| |Investments|4|29,272|24,927| |Cash|at|bank|and|in|hand|4|101,057|105,935| |130,330|130,862| |Liabilities| |Creditors:|Amounts|falling|due|in|one|year|.|4|85|(554)| |85|(554)| |Net|current|assets,|less|current|liabilities|130,244|131,417| |Total|assets,|less|current|liabilities|130,244|131,417| |Total|net|assets,|less|liabilities|130,244|131,417| |Represented|by| |Unrestricted| |General|fund|5|43,596|54,294| |Designated| |Catering|Fund|5|1,521|1,990| |Chat|Café|5|1,919|1,572| |Lincoln|Organ|Running|Costs|5|50|-| |Literature|Provision|5|2,107|1,955| |Restoration|Fund|(Designated)|5|8,020|6,448| |Restricted| |Becket|Chapel|Window|Restoration|5|7,776|6,276| |Furniture|Fund|5|963|963| |J.|Sheppard's|fund|for|External|Lighting|5|2,930|2,930| |Provision|of Raiment|5|83|83| |For the|Maintenance|of the|Bells|5|1,072|1,072| |Maintenance|of the|Vicarage|is)|322|322| |Thaxted|Church|Music|Fund|5|609|219| |Replacement|Lighting|Project|5|3,973|3,973| |Restoration|Fund|(Restricted)|5|17,104|15,467| |Kitchen,|Toilet|&|Meeting|Room|Fund|5|3,939|3,939| |Decorating|the|South|Aisle|5|4,982|4,981| |Endowment| |Chancel|Trust|5|29,272|24,927| |Funds|of the|church|130,244|131,417|

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Page 6

For the year ending 31st December 2021

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 31S‘ December is shown asa 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 Unrestricted
2,967
Designated
-
_Restricted
600
Endowment
-
2021
3,567
2020
3,19
Parish Giving Scheme 26,798 - - - 26,798 27,937
Free Will Offering - Envelopes - - - - - -
Loose plate collections 3,047 - - - 3,047 4,208
One-off GiftAid gifts 2,144 - - - 2,144 705
Donations appeals etc 2,399 50 - - 2,449 1,317
Legacies - - - - - 1,000
‘Black Chest’ Donations . - - - - 273
‘Restoration’ Wall Safe - 22 - - 22 109
Total 37,357 72 600 - 38,029 38,742
me
2(b) othertrading activities
Total
Bookstall sales - fund raising Unrestricted
186
Designated
489
_Restricted
-
Endowment
-
2021
675
2020
386
Church Lettings - General
Church Lettings - Heating
2,740
100
-
-
-
-
-
-
2,740
100
1,250
200
Total 3,026 489 - - 3,515 1,836
Gp
tg
2(c) Investments
Total
Gains / Losses on Trust Revaluation
Total
Unrestricted
-
-
Designated
-
-
_Restricted
-
-
Endowment
4,345
4,345
2021
4,345
4,345
2020
2,281
2,281
pe
2(d) other income
Total
Tax recoverable on S/O & GiftAid Unrestricted
2,814
Designated
-
_Restricted
7
Endowment
-
2021
2,814
2020
1,091
Tax recoverable on Giving Scheme 6,699 - - - 6,699 6,984
Recurring grants - - 10 - 10 10
Non-recurring one-off grants - - 1,500 - 1,500 22,929
Yardley’s Charities - - - - - 2,500
Thaxted Parish Council - - - - - 2,000
Restoration Grants (Non-Specific) - - - - - 4,051
Otherfunds generated 201 365 - - 566 331
Candle Collection 248 - - - 248 205
Catering Income - TT - - TT 83
May& Christmas Fayres 4,831 - - - 4,831 -
Fundraising Committee Events 30 1,861 - - 1,891 105
Organ Recitals / Scholar Visits - - - - - -
Bank and building society interest 5 - 2 - t 58
Fees forweddings and funerals 9,074 - - - 9,074 4,172
Wedding Fees for Choir - - 390 - 390 -
Insurance Claims - - 3,976 - 3,976 -
Total 23,905 2,304 5,878 - 32,087 44,522

Page 8

3. Expenditure

3(a) Raising funds

3(a) Raising funds
Total
Unrestricted Designated Restricted Endowment 2021 2020
Costs offetes & other events 56 238 - - 295 -
Cost of Credit Card Machine 399 - - - 399 379
Total 456 238 - - 694 379
3(b) Expenditure on charitable activities
Total
Unrestricted Designated _Restricted Endowment 2021 2020
Home mission 200 - - - . 200 288
Secular charities 109 - - - 109 105
Ministry parish share etc 41,211 - - - 41,211 40,652
Total 41,520 - - - 41,520 41,045
3(c) Otherexpenditure
Total
Organist Fees Unrestricted
4,475
Designated - _Restricted - Endowment
-
2021
4,475
2020
6,000
Parish Administrator = - = - - 1,980
Expenses of MinistryTeam 647 - - - 647 342
Vicarage - Utility Costs 55 - - - 55 -
Church running - Insurance 6,831 - - - 6,831 6,766
Parish Office - Telephone - - - - - 15
Parish Office - Consumables 142 - - - 142 202
Parish Office - Broadband /WiFi 159 - - - 159 -
Organ / piano tuning 246 - - - 246 776
Church running - Maintenance 2,666 - - - 2,666 3,216
Church running - Cleaning & Laundry 12 - - - 12 450
Church running - Catering - 325 - - 325 171
Church running - Flowers - 817 - - 817 633
Church running - Service 2,305 - - - 2,305 1,219
(Consumables)
Church running - Service (Assets) - - - - - 144
Upkeep ofchurchyard - - 5,030 - 5,030 3,885
Administration 1,039 - - - 1,039 690
Fees Payable to the Diocese 872 - - - 872 250
Church running - Electric 745 - - - 745 810
Church running - Gas 5,432 - - - 5,432 5,123
Church running -Water 114 - - - 114 86
Church running - Heating and Lighting - - 740 - 740 198
Bookstall costs - 337 - - 337 426
Governance costs - Examination / Audit 570 - - - 570 570
Fee
Church major repairs - structure 116 312 780 - 1,208 14,465
Church major repairs - installation - - 2,160 - 2,160 804
Church - Lighting Project - - - - - 3,420
Total 26,431 1,792 8,710 - 36,935 52,709

3(b) Expenditure on charitable activities

3(c) Other expenditure

Page 9

4. Statement of assets and liabilities

as at 31 December 2021

Unrestricted Unrestricted Designated Restricted Endowment 2021 2020
Current assets - Cash at bank & in hand
Barclays - Current Account (7,875) 13,589 2,258 - 7,971 15,547
Barclays - Restoration Account - 30 18,246 - 18,276 15,740
SantanderAccount - - - - - 1,411
CAF Bank - High Interest 51,472 - 23:337 - 74,810 73,236
Cash in Hand - - - - - -
Totals 43,596 13,619 43,842 - 101,057 105,935
Current assets - Investments
Chancel Trust - - - 29,272 29,272 24,927
Totals - - - 29,272 29,272 24,927
Liabilities -Agency accounts
Agency collections - - 85 - 85 (554)
Totals - - 85 - 85 (554)
Grand total 43,596 13,619 43,756 29,272 130,244 131,417
5. Statement ofthe movement offunds
Forthe yearended 31% December 2021
Fund Balances Incoming Outgoing ‘Transfers Gains/ Fund Balances
broughtforward Resources Resources Losses _ carried forward
Unrestricted Funds
General fund 54,294 64,288 68,409 (6,577) - 43,596
Designated Funds
Catering Fund
Chat Café
1,990
1,572
ch
365
546
17
-
-
-
-
1,521
1,919
Flower Fund - - 817 817 - -
Literature Provision 1,955 489 337 - - 2,107
Restoration Fund 6,448 1,884 312 - - 8,020
Restricted Funds
Becket Chapel Window Restoration 6,276 1,500 - - - 7,776
Decorating the South Aisle 4,981 0 - - - 4,982
Furniture Fund 963 - - - - 963
Heating Fund - - 740 740 - -
Kitchen, Toilet
& Meeting Room Fund
3,939 0 - - - 3,939
J. Sheppard's fund for External Lighting 2,930 0 - - - 2,930
Maintenance ofthe Bells 1,072 0 - - - 1,072
Maintenance ofthe Churchyard - 10 5,030 5,020 - -
Maintenance ofthe Vicarage 322 0 - - - 322
Provision of Raiment 83 - - - - 83
Replacement Lighting Project 3,973 - - - - 3,973
Restoration Fund 15,467 4,577 2,940 - - 17,104
ThaxtedChurch MusicFund
Lincoln Organ — Running Costs
219
.
390
50
:. "
:
609
50
Endowment Funds
Chancel Trust 24,927 4,345 - - - 29,272
Total 131,417 77,978 79,150 - - 130,244

5. Statement of the movement of funds

For the year ended 31% December 2021

Page 10

Associated Organisations

In addition to the funds which the trustees / PCC members have direct control of, there are several associated organisations which, although cannot form part of the accounts, do have a connection to the fabric and the work of the church.

Each organisation produces an independent account of their income and expenditure but an extract of each of these is reproduced below for comparison with previous years’ accounts.

Vicar and Churchwardens Accounts

Extract from the Summary of the Funds within the Vicar & Churchwardens accounts as at 31°! December 2021

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|||||||||| |---|---|---|---|---|---|---|---|---| |Total|Funds|Total|Funds| |2021|2020| |Charity|Funds|held|(Details|in|the|full VaCW accounts)|3,174|3,161| |Yardley|Ecclesiastical|Charity|42,568|47,262| ||| |Total|Restricted|funds|45,742|50,423| |V & CW|Fund|29,223|39,508| |Chantry|Estate|57.008|29,943| |Total|Unrestricted|funds|87,002|69,451| |Fund|balance|at Year End|132,743|119,873|

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Lincoln Organ Restoration Committee accounts

Extract from the record of income and expenditure of the Lincoln Organ Restoration accounts as at 318‘ December 2021

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|||||| |---|---|---|---|---| |Opening|funds| |Total|Receipts| |Total|Payments| |Funds|Balance|at|Year|End|

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||| |---|---| |Total|Funds| |2021| |37,282| |4| |37,286|

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Thaxted Church Hall

The trustees for the Thaxted Church Hall have worked with the Thaxted PCC treasurer to ensure that their accounts can be delivered in a summarised form within this set of financial statements.

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|||||| |---|---|---|---|---| |Total|Funds|Total|Funds| |2021|2020| |Opening|funds| |1,102|4,093| |Total|Income| |3,700|3,275| |Total|Expenditure| |4,614|3,794| |GRANTS/Loans|9,100|1,500| |One|off Expenses|1;521|3,971| |Surplus/Deficit|6,665|-2,991| |Funds|Balance|at Year End|7,767|1,102|

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Page 11