The Parish Church of St John and St Stephen, Reading
Annual Report and Financial Statements of the Parochial Church Council
for the year ended 31[st] December 2020
Church Address:
121-147 Orts Road Reading RG1 3JN
Incumbent:
Revd. Claire Alcock
Principal Banker:
Charities Aid Foundation Bank 25 Kings Hill Avenue West Malling ME19 4TA
Independent Examiner:
PB Robinson MAAT, FCIE Independent Examiners Ltd Sovereign Centre Poplars Yapton Lane Walberton BN18 0AS
Registered charity no. 1127821
The Parish Church of St John and St Stephen, Reading Annual Report for 2020
Background
The Parochial Church Council (PCC) of St John and St Stephen is a corporate body established by the Church of England and operating under the Parochial Church Council Powers Measure. The PCC is registered with the Charity Commission. It is responsible for co-operating with the incumbent in promoting in the ecclesiastical parish of St John and St Stephen, Reading, the whole mission of the Church, pastoral, evangelistic, social and ecumenical. More specifically its mission is:
“To know Christ and to make Him known.”
and its vision:
“We meet as a Church to equip and build one another up to live lives of worship in the world and we exist to serve the Parish of St John & St Stephen, in cooperation with other churches and Christians and with local people of faith and no faith at all.”
Membership (Trustees)
Members of the PCC are elected by the Annual Parochial Church Meeting (APCM) in accordance with the Church Representation Rules, ex officio or co-opted by the PCC.
During the 2020/21 year, the following served as members of the PCC:
| Incumbent: | Revd. Claire Alcock | ||
|---|---|---|---|
| Ex officio: | Revd. Christine Bainbridge | ||
| Richard Croft (LLM) | |||
| Churchwardens | Rosemary Croft | ||
| Ian Maynard | |||
| Term of Office | |||
| Representatives on | |||
| Deanery Synod: | Alison Peyton | 2017-2020 | |
| Joanna Laynesmith | 2020-2023 | ||
| Chris Meunier | 2020-2023 | ||
| Elected Members: | |||
| Graeme Buick | 2017-2020 | ||
| Heather Curnow | 2017-2021 | ||
| Norma Stevenson | 2017-2021 | ||
| Hugh Fisher | Treasurer | 2018-2022 | |
| Richard Harwood | 2018-2022 | ||
| Rod Jackson | 2018-2022 | ||
| Jose Kennedy | 2019-2023 | ||
| Elaine Maynard | 2019-2023 | ||
| Les Pullen | 2019-2023 | ||
| Co-opted Members: | |||
| Bridget Barwick | Secretary | 2020-2021 |
Church attendance
There were 94 people on the Church Electoral Roll as presented to the APCM 2020, an increase of 1 on 2019. Attendance at the church itself has been drastically affected by the Coronavirus pandemic and has only been possible for a limited period of time. Most Sunday worship services have been conducted by video conferencing (in live time). As such, average attendance figures are not readily available. The few church services held have been restricted by the number of worshippers who could be safely accommodated, whereas the video conferencing services have included several people from further afield, including some outside the UK. Some other church activities have also been able to continue using video conferencing, but there have been no other gatherings of people in person since late March, including the erstwhile Café activities and children’s groups. No communion
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services were held on Easter Day or over Christmas. There were no baptisms, no marriages and one funeral, conducted in the church building and at the local Crematorium.
Committees
Since March 2020, all PCC meetings and the Annual Parochial Church Meeting (held on 19 October) have been conducted using video conferencing. Certain aspects of the PCC’s operations are delegated to sub-committees, which meet on an ad-hoc basis and report back to the PCC:
Standing Committee:
This is the only committee required by law. It has power to transact the business of the PCC between its meetings, subject to any directions given by the PCC, but is only required to meet if necessary.
Church Giving Advisory Group:
Attends to matters relating to, and administers monies raised for, mission.
Virtually all other business was transacted by email.
Review of the 2020/21 year
The PCC met three times during the year, as noted above. There was an average level of attendance of 88%. Time was given to reflection and prayer within each PCC meeting.
The main issues dealt with by the PCC during this period were:
-
Mission and ministry, including a review of online worship, Children’s Ministry and the NEWT magazine, also the introduction of Personal Discipleship Plans and Prayer Walks.
-
Risk assessment for reopening the church building for worship.
-
Regular reviews of safeguarding.
-
Regular reviews of finance, including the Mission Budget, Church House rents and financial controls.
-
Review and acceptance of the Diocesan Energy Audit (November 2020).
-
Fabric issues including maintenance of the forecourt garden and work arising from the Energy Audit.
-
Regular reports of Deanery Synod meetings.
There were no off-site activities for youth or any other groups during the period under review.
Risk Management
The PCC exercises regular oversight of all activities undertaken in its name, including identification of any risks to which the Church and its organisations are exposed and the establishment of suitable systems and procedures to mitigate such risks.
Finances
The overall position for 2020 shows an excess of income over expenditure of £14.7k. Key points to report are:
-
Total income was 1% lower than in 2019;
-
Expenses and outgoings were 17% lower;
-
Grants of £23.1k were made;
-
Sufficient funds were available to meet all outgoings;
-
The total value of funds increased due to a rise in the value of investments held and the revenue account surplus.
The PCC expresses its gratitude to God for the continued generosity of many church members, including several who have since moved away, in providing resources for the running of the church and funding for grants to our mission and other partners. This has been particularly true during the Coronavirus pandemic, the majority of donations continuing to be made by bank transfer.
Total income amounted to £113.8k, a decrease of £1.7k (1%) on 2019 (see Note 2 on page 8). Within this sum, donation income of £61.0k was £3.6k (6%) less than last year. Tax-efficient donations, including those received through charitable agencies such as CAF and Stewardship, accounted for 94% of all donation income (1% decrease), while £13.7k was reclaimed from HMRC (7% decrease). This was assisted by the ability to claim for
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cash donations up to £30 under the Gift Aid Small Donations Scheme, but in the absence of most activities in church there have been very few such donations since March. Investment income and interest of £14.7k was £0.3k (2%) higher than 2019. Lettings (Church House and Parish Centre) and sales income of £18.5k was £0.5k (3%) less, while fees and other income (Church lunches, etc) of £5.8k were up by £2.9k (104%). There were no major one-off gifts or legacies in the year. The earned interest rate on the Virgin Money Charity deposit dropped from 0.75% to 0.15%, with no interest paid on the CAF current bank account.
Total expenditure of £99.0k represented a decrease of £20.1k (17%) over 2019 (see Note 3 on page 9), primarily on account of significantly reduced usage of the church building due to Coronavirus restraints. The only project during the year was installation of a secondary computer monitor screen in the church at a cost of £0.6k. Now that the church no longer has a Curate, there were no housing or travel costs as previously. All expenditure on children’s and youth work (£0.3k in 2020) continued to be funded by income received on money invested from Arthur Clark’s generous legacy. The majority of other expenditure comprised running costs. In accordance with the PCC’s current policy, Mission giving is budgeted on 22% of the previous year’s eligible General Fund income. £19.1k was distributed by this means to 15 mission partners at home and abroad, with a further £4.0k principally comprising a grant to Reading Deanery Synod. Full details are set out at Note 13 (page 15).
The General Fund , including most donation income and church running costs, opened and closed with a zero balance (see Note 12 on page 14). Income amounted to £90.3k, an increase of £0.8k (1%) over 2019. Higher dividend and other income was offset by lower donation income and tax reclaims. Total running costs of £74.3k were £10.4k (12%) lower than 2019, for the reasons noted above. The cost of publishing the Newt our free glossy magazine was £2.3k, half that of 2019 as only 2 instead of 4 printed editions were produced. The Parish Share, as usual, comprised the largest single item of expenditure, amounting to £48.4k, an increase of £5.4k (13%) over 2019, and was fully paid in regular instalments. We benefited from rebates totalling £5.1k for (a) Reading Deanery churches’ share payments having been made in full and on time, and (b) payment of the Parish Share by direct debit. This was £2.5k higher than 2019, resulting from inclusion of the 2020 rebate being included in 2020 rather than the following year, as hitherto. These sums are treated as miscellaneous income. The cost of utilities at £2.2k was £1.1k (33%) lower than 2019. The PCC continues to purchase its gas and electricity from Ecotricity, with gas for heating the church offcharged by the School. The General Fund was balanced by a transfer of £5.7k from the Church House Letting Fund (61% decrease on 2019).
The capital value of the church’s investments showed an increase of £33.1k (7%) in the year, reflecting growth in the market, notwithstanding the Coronavirus pandemic. Dividend payments remained relatively constant throughout the year. No new investments were made, nor were any fund holdings redeemed. All investments are held through CCLA, who manages its funds in accordance with the policies of the Church of England’s Ethical Advisory Group. Likewise the Charities Ethical Investment Fund is managed with reference to the UK Stewardship Code. The overall valuation at 31 December 2019 was £517.7k, of which £278.3k is unrestricted and £239.4k endowment. Full details of the investments are set out at Note 6 (page 11).
The closing balance across all funds stood at £1,076.7k (including freehold land and buildings), an increase of £47.9k (5%) over 2019.
Revd. Claire Alcock (Chair) 22 February 2021
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INDEPENDENT ExAlINER's REPORT ON THE PAROCHIAL CHURCH COUNCIL OF ST JOHN AfD ST STEPHEN. READING This repi)rt i)n the acci)unls i)f the PCC of Si John and Si SieFthen lor the l'ear ejthj 31s1 tk¢emr ?O?O. h1¢h are set out I)IL p&igeb 5 10 15. Respecti%"e R¢swbn8ibiliti¢s of the PCC the E%aminer The ]nemiErs of the PCC are satisfiedthat the auth"t requiremenl of sLYlion144(?) of the Cljarities Act ?01 l (the Act) does n(>t appli. and ijut there ib requirenl in ihe g(>irming a(]15 (>r u)n%iiiuli()n i¥f the Chariii. f(>r Ihe )ndUctIng i)f un uudil. Ab a )nSequene the memkr hai'e elec1 thai the fJnan¢ial >tsiements' bubjecl to llwni exdminalii)n. Hal'ing satisfied Mi'se thai the Charih. is not subject lo akn"1 and is ellble for inderendent examinatio it is mi, resp)nsibdit%' to". exan]ine the accounts ullder tion 14) of the Act. t(> f(>ll()w the pr(Kedures laid Ik) in the tierthl Directi5 giiEn . the Clkiritv Conm)ibbiÉ)n under secli()n 14i(51ib) of Act. dnd to state ii'hether trtICUlar Ttters hair c(¥ne to nTh" atsentton. Basis of indtptndent ¢xaminer'$ slatemtnt M}" euminationil'as carried out a¢¢ordan¢e iiith general t)Jrectionspi'en bi, the Charih. Con]mission. An exarnination cllldes a Tei'icM' ol th¢ aec4)uniing r¢coTds kcpt M" the chaTih" and a cornparison of th¢ accounts prrscnl¢d '1th those rwoTds. It also includc8 con8id¢ratson of ani" Un7 iicmi or disclour¢8 in th¢ accounts. and vk'ing ciplanations fToin the trustees Concerning nlltiers. The pedureS utKlenak"en (lo noi proiide all the eiidence tha( ii'ould k iequ]red in an audit, and consequenili. no opinion is l'en as io iihetheT ihe accounts presen( a Inje and fa]r Nieii, and the rep)rt is 1mll.ted to those matters set out in the blatement 10. Indeptht tx#nther'$ statefftnt Jn c()nnecti()n 7th eKamination. w matler has Come to mi. altentsi)n'. which gil'es Jr reas()nable caube to lIe1'e that in: ani. material res1. the trus1ees haie )1 nyt the requiremenlb lo enSUTe thai". t[ a¢¢ounting rwTds (in iiith section 130 of the A¢t): and accounts are tYetNqred iithich agree iiith the ac¢ounling ffCOTd5 and Compl!" M'ith the a¢¢ounting requirements of ihe Act.. or 2. to H'hich, in mi. opiniorn attention sl)ould draiin in ordet io enable a prOr utmletslanding of the accounts io be rcachcd. P B Robinbon MAAT FC Indenden[ F.x(Iminers Lid Soi"crcign Qnl P()pldrs Yapli)n l.an BN18 OAS Da(cd. 3id March 20?1 Independent LiTni&ed {4)
Parochial Church Council of St John and St Stephen, Reading Statement of Financial Activities for the year ended 31 December 2020
| Unrestricted | Restricted | Endowment | TOTAL | FUNDS | ||
|---|---|---|---|---|---|---|
| Notes | Funds | Funds | Funds | 2020 | 2019 | |
| £ | £ | £ | £ | £ | ||
| INCOME & ENDOWMENTS | 2 | |||||
| Voluntary income | 73,438 | 1,260 | 0 | 74,698 | 79,269 | |
| Activities for generating funds | 18,500 | 145 | 0 | 18,645 | 19,039 | |
| Income from investments | 14,655 | 0 | 0 | 14,655 | 14,327 | |
| Income from church activities | 5,759 | 0 | 0 | 5,759 | 2,818 | |
| TOTAL INCOME & ENDOWMENTS | 112,352 | 1,405 | 0 | 113,757 | 115,453 | |
| EXPENDITURE | 3 | |||||
| Church activities | 97,841 | 1,182 | 0 | 99,024 | 119,172 | |
| TOTAL EXPENDITURE | 97,841 | 1,182 | 0 | 99,024 | 119,172 | |
| TRANSFERS | 11 | |||||
| Transfers between funds | 0 | 0 | 0 | 0 | 0 | |
| NET INCOME & ENDOWMENTS / (EXPENDITURE) | ||||||
| BEFORE OTHER RECOGNISED GAINS / LOSSES | 14,510 | 223 | 0 | 14,733 | (3,719) | |
| GAINS / (LOSSES) ON INVESTMENTS | 6 | |||||
| On revaluation | 17,833 | 0 | 15,305 | 33,137 | 76,269 | |
| NET MOVEMENT IN FUNDS | 32,343 | 223 | 15,305 | 47,871 | 72,550 | |
| BALANCES BROUGHT FORWARD | ||||||
| AT 1 JANUARY | 295,824 | 201,195 | 531,770 | 1,028,789 | 956,239 | |
| BALANCES CARRIED FORWARD | ||||||
| AT 31 DECEMBER | 328,167 | 201,418 | 547,074 | 1,076,659 | 1,028,789 |
Any minor differences in totals are due to roundings.
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Parochial Church Council of St John and St Stephen, Reading Balance Sheet as at 31 December 2020 2020 2019 FIXED ETs Inve5tffl2 T8Wt[eF8dAS$tts 517.7XJ .019 ,019 TOTNL FIXED ASSErs 1.0247x1 992.612 JRRENT A$ss Dtrbtors 8rn1 wep8JTW Cashatbank atrxl li hatKI 9.318 31.921 TOTAL CURRENT ASSETS 52,783 38.607 UABIUnES 11,8741 12,4311 NET CURRENT ASSETS 50,910 36,176 TOTIL ASSETS 10 1,076,6 1,028,789 PARISH FUNE6 UnreslrKted Restncted Endownent 1011 328.167 )J1.418 547.074 5,824 3J1,195 531.770 TOT*L PARISH FUNDS 1.076,6 1,028,789 Approved by the Parochial Church Council on 22 Febtuary 2021 and signed on its behaw by Revd. Claire Alcock (Chairl The rv)tes on pages 7t0 16 fcrfm part Oft xwjrts. {8}
Parochial Church Council of St John and St Stephen, Reading
Notes to the financial statements for the year ended 31 December 2020
1 ACCOUNTING POLICIES
The financial statements have been prepared on the accruals basis in accordance with the Church Accounting Regulations 2006 and the applicable accounting standards of the Charities 2015 Statement of Recommended Practice (FRS102), but a cashflow statement is not included as the PCC’s gross income is below £500k. The Financial Reporting Standard for Smaller Entities (FRSSE) is no longer available. The detailed analysis of income and expenditure continues to reflect the particular requirements of the PCC.
The financial statements have been prepared under the historical cost convention except for the valuation of investment assets, which are shown at market value.
Funds
General funds represent funds of the PCC that are not subject to any restrictions regarding their use, and are available for application on the general purposes of the PCC. Funds designated for a particular purpose may also be unrestricted.
The financial statements include all transactions, assets and liabilities for which the PCC is accountable in law. They do not include accounts of church groups that owe their main affiliation to another body, nor those that are informal gatherings of church members.
Income & Endowments
Voluntary income and capital sources
Donations and collections are recognised when received by or on behalf of the PCC. Planned giving, is recognised only when received. Tax recoverable on Gift Aid donations is recognised when the donations are received. Grants and legacies to the PCC are accounted for as soon as the PCC is notified of its legal entitlement, the amount due is quantifiable and its receipt by the PCC is reasonably certain.
Activities for generating funds
Rental income from letting of church premises is recognised when the rental is due.
Income from investments
Dividends and interest are accounted for when receivable. Such payments are received without deduction of income tax.
Income from church activities
Income and expenditure relating to various church activities are accounted for gross.
Gains and losses on investments
Realised gains or losses are recognised when the investments are sold. Unrealised gains or losses are accounted for on revaluation at market value, as at 31[st] December (or nearest date available).
Expenditure
Grants
Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding obligation on the PCC.
Church activities
The diocesan parish share is accounted for when paid.
Fixed Assets
Church Centre and Church House
The value shown in the balance sheet for the Church Centre and for nos. 1 and 2 Church House is the acquisition cost of the land and building of the property in 1976 plus the Refectory extension building cost in 2009. This does not include the value of the land which was exchanged with Reading Borough Council for that previously occupied by the former St. Stephen’s Church in accordance with an agreement with the PCC dated 30/11/1976. No valuation of the property is carried out, but the PCC is of the opinion that the open market value is not materially less than the balance sheet value.
No value is placed on movable church furnishings. All expenditure incurred on buildings, furniture and fittings, whether maintenance or improvement, is written off as expenditure in the Statement of Financial Activities, unless separately disclosed.
Current Assets
Amounts owing to the PCC as at 31[st] December in respect of Gift Aid reclaims, fees, rents or other income are shown as debtors less provision for amounts which may prove uncollectable. Short Term deposits include loans currently held.
Investment Policy
The PCC’s policy is: (a) to invest endowment funds and other major legacies in dividend-bearing shareholdings, principally those of the CCLA Central Board of Finance of the C. of E. Investment Fund; (b) to hold money not immediately required in (i) a charity deposit savings account and (ii) other local projects; (c) to invest other surplus funds in dividendbearing shareholdings of the CCLA COIF Charities Ethical Investment Fund; and (d) to hold other day-today funds in a charity bank account.
Reserves Policy
The PCC relies substantially on the regular inflow of donation, letting and Gift Aid tax recovery income to meet day-to-day commitments. It endeavours to hold sufficient cash reserves to meet at least two months’ gross running costs.
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Parochial Church Council of St John and St Stephen, Reading Notes to the Financial Statements for the year ended 31 December 2020
| Unrestricted | Restricted | Endowment | TOTAL | FUNDS | ||
|---|---|---|---|---|---|---|
| Funds | Funds | Funds | 2020 | 2019 | ||
| Notes | £ | £ | £ | £ | £ | |
| 2 INCOME & ENDOWMENTS | ||||||
| Voluntary income | ||||||
| Gift Aid donations | 54,430 | 560 | 0 | 54,990 | 58,836 | |
| Tax recoverable | 13,533 | 215 | 0 | 13,748 | 14,707 | |
| Other giving - tax efficient | 2,162 | 100 | 0 | 2,262 | 2,216 | |
| Other giving - non-tax efficient | 3,314 | 385 | 0 | 3,699 | 3,510 | |
| Grants | 0 | 0 | 0 | 0 | 0 | |
| Legacies | 0 | 0 | 0 | 0 | 0 | |
| Total voluntary income | 73,438 | 1,260 | 0 | 74,698 | 79,269 | |
| Activities for generating funds | ||||||
| Sales income - note (a) | 20 | 145 | 0 | 165 | 121 | |
| Letting income | 18,480 | 0 | 0 | 18,480 | 18,918 | |
| Total activities for generating funds | 18,500 | 145 | 0 | 18,645 | 19,039 | |
| Income from investments | ||||||
| Dividends and interest from investments | 6 | 14,562 | 0 | 0 | 14,562 | 14,146 |
| Bank interest | 93 | 0 | 0 | 93 | 182 | |
| Total income from investments | 14,655 | 0 | 0 | 14,655 | 14,327 | |
| Income from church activities | ||||||
| Fees | 136 | 0 | 0 | 136 | 179 | |
| Other receipts | 5,623 | 0 | 0 | 5,623 | 2,639 | |
| Total income from church activities | 5,759 | 0 | 0 | 5,759 | 2,818 | |
| TOTAL INCOME & ENDOWMENTS | 112,352 | 1,405 | 0 | 113,757 | 115,453 |
(a) Sales Restricted income comprises sales of Bible reading notes for church members.
Any minor differences in totals are due to roundings.
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Parochial Church Council of St John and St Stephen, Reading Notes to the Financial Statements for the year ended 31 December 2020
| Unrestricted | Restricted | Endowment | TOTAL | FUNDS | ||
|---|---|---|---|---|---|---|
| Funds | Funds | Funds | 2020 | 2019 | ||
| Notes | £ | £ | £ | £ | £ | |
| 3 EXPENDITURE | ||||||
| Church activities | ||||||
| Grants and gifts | 13 | |||||
| Church overseas | 2,000 | 415 | 0 | 2,415 | 2,398 | |
| Relief and development agencies | 10,600 | 0 | 0 | 10,600 | 12,936 | |
| Home mission | 9,593 | 463 | 0 | 10,056 | 8,147 | |
| Total grants and gifts | 22,193 | 878 | 0 | 23,071 | 23,481 | |
| Ministry | ||||||
| Diocesan parish share | 48,383 | 0 | 0 | 48,383 | 43,003 | |
| Salary | 4 | 0 | 0 | 0 | 0 | 0 |
| Other ministry costs | 1,749 | 0 | 0 | 1,749 | 8,746 | |
| Training and education - note (a) | 278 | 128 | 0 | 406 | 1,163 | |
| Total ministry | 50,410 | 128 | 0 | 50,538 | 52,912 | |
| Church running and maintenance | ||||||
| Wages | 4 | 0 | 0 | 0 | 0 | 0 |
| Other running expenses | 7,360 | 0 | 0 | 7,360 | 11,682 | |
| Church maintenance | 2,022 | 0 | 0 | 2,022 | 2,248 | |
| Upkeep of services - note (b) | 304 | 177 | 0 | 481 | 1,230 | |
| Other property upkeep | 1,021 | 0 | 0 | 1,021 | 1,658 | |
| Major repairs (structure) | 0 | 0 | 0 | 0 | 6,124 | |
| Movable furnishings and equipment | 1,326 | 0 | 0 | 1,326 | 1,094 | |
| General administration | 423 | 0 | 0 | 423 | 2,188 | |
| Bank charges | 60 | 0 | 0 | 60 | 60 | |
| Total church running and maintenance | 12,515 | 177 | 0 | 12,692 | 26,285 | |
| Support costs | ||||||
| Church activities | 3,496 | 0 | 0 | 3,496 | 7,250 | |
| Administration Salary | 4 | 8,687 | 0 | 0 | 8,687 | 8,524 |
| Governance - examination fees | 540 | 0 | 0 | 540 | 720 | |
| Total support costs | 12,723 | 0 | 0 | 12,723 | 16,494 | |
| Total church activities | 97,841 | 1,182 | 0 | 99,024 | 119,172 | |
| TOTAL EXPENDITURE | 97,841 | 1,182 | 0 | 99,024 | 119,172 |
(a) Training & education Restricted expenditure comprises Bible reading notes for church members.
(b) Upkeep of services Restricted expenditure comprises the Flower Fund.
Any minor differences in totals are due to roundings.
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Parochial Church Council of St John and St Stephen, Reading Notes to the Financial Statements for the year ended 31 December 2020
4 STAFF COSTS, TRUSTEE DONATIONS & EXPENSES
| 4 STAFF COSTS, TRUSTEE DONATIONS & EXPENSES Wages and salaries Employer's National Insurance costs Employer's Pension costs Total Trustee donations (14 Trustees in 2020; 12 in 2019) |
2020 2019 £ £ 8,687 8,524 0 0 0 0 |
| 8,687 8,524 |
|
| 26,520 16,142 |
During the year, the PCC employed a Parish Centre Manager who did not earn £60,000 or more.
The PCC operates HM Revenue & Customs' PAYE scheme for deduction of income tax and National Insurance payments.
In addition, the Vicar received £1,551 (£3,233 in 2019, including the Curate) in respect of expenses incurred in carrying out their duties and 6 other PCC members received £640 in total (9 other members received £2,037 in 2019). There were no other disclosable transactions, material or otherwise, in respect of PCC members, persons closely connected with them or other related parties.
| 5 FIXED ASSETS (a) Tangible Fixed Assets Gross Book Value At 1 January 2020 Revaluation Additions at cost At 31 December 2020 Depreciation At 1 January 2020 Written off during Year Charge for year At 31 December 2020 Net Book Value At 1 January 2020 At 31 December 2020 |
2020 2019 Freehold land and Church buildings equipment Total £ £ £ 508,019 0 508,019 0 0 0 0 0 0 |
|---|---|
| 508,019 0 508,019 |
|
| 0 0 0 0 0 0 0 0 0 |
|
| 0 0 0 |
|
| 508,019 0 508,019 |
|
| 508,019 0 508,019 |
The freehold land and buildings comprise the Parish Centre, nos. 1 & 2 Church House and the Refectory extension building (see note 1). The value shown in the balance sheet for these is the acquisition cost of the land and building of the property in 1976 plus the Refectory extension building cost in 2009.
The last quinquennial inspection of the church was carried out in 2019.
(b) Investments
See note 6.
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| Fund S t a t u s Benefic'y Fund (income) Income Received in year Acquisition Cost Market Value at 01/01/2020 Market Value at 31/12/2020 Gain / (Loss) over Period excluding sales & purchases RESTRICTED ENDOWMENT FUNDS Church Expenses fund P 110 shares CBFIF Inv. Fund (1) General 63 74 2,109 2,254 145 Curacy endowment P 2,646 shares CBFIF Inv. Fund Curacy 1,519 2,449 50,721 54,209 3,488 P 156.18 shares CBFIF Inv. Fund (2) Curacy 90 1,308 2,994 3,200 206 Benefice endowment P 156.18 shares CBFIF Inv. Fund (2) General 90 1,308 2,994 3,200 206 Princes Street Mission Rooms P 7,049.79 shares COIF Ethical Inv. Fund (5) General 579 642 18,294 19,445 1,151 P 112 shares CBFIF Inv. Fund General 64 102 2,147 2,295 148 P 7,557 shares CBFIF Inv. Fund General 4,337 50,163 144,861 154,823 9,962 RESTRICTED ENDOWMENT FUNDS - total 6,742 56,045 224,120 239,424 15,304 UNRESTRICTED FUNDS Arthur Clark legacy E 3,412.58 shares CBFIF Inv. Fund Children's & Youth Work 1,958 26,785 65,416 69,914 4,498 Marjorie Wilkinson bequest E 9,473.52 shares CBFIF Inv. Fund General 5,437 91,887 181,599 194,087 12,488 PCC General fund E 3,989.56 shares COIF Ethical Inv. Fund (3) General 328 7,693 10,353 11,004 651 PCC Curacy fund E 780.52 shares COIF Ethical Inv. Fund (3) Curacy 64 1,505 2,025 2,153 128 PCC Benefice fund E 416.10 shares COIF Ethical Inv. Fund (3) (4) General 34 802 1,080 1,148 68 UNRESTRICTED FUNDS - total 7,821 128,673 260,473 278,306 17,833 INTEREST RECEIVED General 93 TOTAL INVESTMENTS 14,656 184,718 484,593 517,730 33,137 Parochial Church Council of St John and St Stephen, Reading Represented By 6 SCHEDULE OF INVESTMENTS - INCOME AND RE-VALUATION Notes to the Financial Statements for the year ended 31 December 2020 |
Fund S t a t u s Benefic'y Fund (income) Income Received in year Acquisition Cost Market Value at 01/01/2020 Market Value at 31/12/2020 Gain / (Loss) over Period excluding sales & purchases RESTRICTED ENDOWMENT FUNDS Church Expenses fund P 110 shares CBFIF Inv. Fund (1) General 63 74 2,109 2,254 145 Curacy endowment P 2,646 shares CBFIF Inv. Fund Curacy 1,519 2,449 50,721 54,209 3,488 P 156.18 shares CBFIF Inv. Fund (2) Curacy 90 1,308 2,994 3,200 206 Benefice endowment P 156.18 shares CBFIF Inv. Fund (2) General 90 1,308 2,994 3,200 206 Princes Street Mission Rooms P 7,049.79 shares COIF Ethical Inv. Fund (5) General 579 642 18,294 19,445 1,151 P 112 shares CBFIF Inv. Fund General 64 102 2,147 2,295 148 P 7,557 shares CBFIF Inv. Fund General 4,337 50,163 144,861 154,823 9,962 RESTRICTED ENDOWMENT FUNDS - total 6,742 56,045 224,120 239,424 15,304 UNRESTRICTED FUNDS Arthur Clark legacy E 3,412.58 shares CBFIF Inv. Fund Children's & Youth Work 1,958 26,785 65,416 69,914 4,498 Marjorie Wilkinson bequest E 9,473.52 shares CBFIF Inv. Fund General 5,437 91,887 181,599 194,087 12,488 PCC General fund E 3,989.56 shares COIF Ethical Inv. Fund (3) General 328 7,693 10,353 11,004 651 PCC Curacy fund E 780.52 shares COIF Ethical Inv. Fund (3) Curacy 64 1,505 2,025 2,153 128 PCC Benefice fund E 416.10 shares COIF Ethical Inv. Fund (3) (4) General 34 802 1,080 1,148 68 UNRESTRICTED FUNDS - total 7,821 128,673 260,473 278,306 17,833 INTEREST RECEIVED General 93 TOTAL INVESTMENTS 14,656 184,718 484,593 517,730 33,137 Parochial Church Council of St John and St Stephen, Reading Represented By 6 SCHEDULE OF INVESTMENTS - INCOME AND RE-VALUATION Notes to the Financial Statements for the year ended 31 December 2020 |
Fund S t a t u s Benefic'y Fund (income) Income Received in year Acquisition Cost Market Value at 01/01/2020 Market Value at 31/12/2020 Gain / (Loss) over Period excluding sales & purchases RESTRICTED ENDOWMENT FUNDS Church Expenses fund P 110 shares CBFIF Inv. Fund (1) General 63 74 2,109 2,254 145 Curacy endowment P 2,646 shares CBFIF Inv. Fund Curacy 1,519 2,449 50,721 54,209 3,488 P 156.18 shares CBFIF Inv. Fund (2) Curacy 90 1,308 2,994 3,200 206 Benefice endowment P 156.18 shares CBFIF Inv. Fund (2) General 90 1,308 2,994 3,200 206 Princes Street Mission Rooms P 7,049.79 shares COIF Ethical Inv. Fund (5) General 579 642 18,294 19,445 1,151 P 112 shares CBFIF Inv. Fund General 64 102 2,147 2,295 148 P 7,557 shares CBFIF Inv. Fund General 4,337 50,163 144,861 154,823 9,962 RESTRICTED ENDOWMENT FUNDS - total 6,742 56,045 224,120 239,424 15,304 UNRESTRICTED FUNDS Arthur Clark legacy E 3,412.58 shares CBFIF Inv. Fund Children's & Youth Work 1,958 26,785 65,416 69,914 4,498 Marjorie Wilkinson bequest E 9,473.52 shares CBFIF Inv. Fund General 5,437 91,887 181,599 194,087 12,488 PCC General fund E 3,989.56 shares COIF Ethical Inv. Fund (3) General 328 7,693 10,353 11,004 651 PCC Curacy fund E 780.52 shares COIF Ethical Inv. Fund (3) Curacy 64 1,505 2,025 2,153 128 PCC Benefice fund E 416.10 shares COIF Ethical Inv. Fund (3) (4) General 34 802 1,080 1,148 68 UNRESTRICTED FUNDS - total 7,821 128,673 260,473 278,306 17,833 INTEREST RECEIVED General 93 TOTAL INVESTMENTS 14,656 184,718 484,593 517,730 33,137 Parochial Church Council of St John and St Stephen, Reading Represented By 6 SCHEDULE OF INVESTMENTS - INCOME AND RE-VALUATION Notes to the Financial Statements for the year ended 31 December 2020 |
Fund S t a t u s Benefic'y Fund (income) Income Received in year Acquisition Cost Market Value at 01/01/2020 Market Value at 31/12/2020 Gain / (Loss) over Period excluding sales & purchases RESTRICTED ENDOWMENT FUNDS Church Expenses fund P 110 shares CBFIF Inv. Fund (1) General 63 74 2,109 2,254 145 Curacy endowment P 2,646 shares CBFIF Inv. Fund Curacy 1,519 2,449 50,721 54,209 3,488 P 156.18 shares CBFIF Inv. Fund (2) Curacy 90 1,308 2,994 3,200 206 Benefice endowment P 156.18 shares CBFIF Inv. Fund (2) General 90 1,308 2,994 3,200 206 Princes Street Mission Rooms P 7,049.79 shares COIF Ethical Inv. Fund (5) General 579 642 18,294 19,445 1,151 P 112 shares CBFIF Inv. Fund General 64 102 2,147 2,295 148 P 7,557 shares CBFIF Inv. Fund General 4,337 50,163 144,861 154,823 9,962 RESTRICTED ENDOWMENT FUNDS - total 6,742 56,045 224,120 239,424 15,304 UNRESTRICTED FUNDS Arthur Clark legacy E 3,412.58 shares CBFIF Inv. Fund Children's & Youth Work 1,958 26,785 65,416 69,914 4,498 Marjorie Wilkinson bequest E 9,473.52 shares CBFIF Inv. Fund General 5,437 91,887 181,599 194,087 12,488 PCC General fund E 3,989.56 shares COIF Ethical Inv. Fund (3) General 328 7,693 10,353 11,004 651 PCC Curacy fund E 780.52 shares COIF Ethical Inv. Fund (3) Curacy 64 1,505 2,025 2,153 128 PCC Benefice fund E 416.10 shares COIF Ethical Inv. Fund (3) (4) General 34 802 1,080 1,148 68 UNRESTRICTED FUNDS - total 7,821 128,673 260,473 278,306 17,833 INTEREST RECEIVED General 93 TOTAL INVESTMENTS 14,656 184,718 484,593 517,730 33,137 Parochial Church Council of St John and St Stephen, Reading Represented By 6 SCHEDULE OF INVESTMENTS - INCOME AND RE-VALUATION Notes to the Financial Statements for the year ended 31 December 2020 |
Fund S t a t u s Benefic'y Fund (income) Income Received in year Acquisition Cost Market Value at 01/01/2020 Market Value at 31/12/2020 Gain / (Loss) over Period excluding sales & purchases RESTRICTED ENDOWMENT FUNDS Church Expenses fund P 110 shares CBFIF Inv. Fund (1) General 63 74 2,109 2,254 145 Curacy endowment P 2,646 shares CBFIF Inv. Fund Curacy 1,519 2,449 50,721 54,209 3,488 P 156.18 shares CBFIF Inv. Fund (2) Curacy 90 1,308 2,994 3,200 206 Benefice endowment P 156.18 shares CBFIF Inv. Fund (2) General 90 1,308 2,994 3,200 206 Princes Street Mission Rooms P 7,049.79 shares COIF Ethical Inv. Fund (5) General 579 642 18,294 19,445 1,151 P 112 shares CBFIF Inv. Fund General 64 102 2,147 2,295 148 P 7,557 shares CBFIF Inv. Fund General 4,337 50,163 144,861 154,823 9,962 RESTRICTED ENDOWMENT FUNDS - total 6,742 56,045 224,120 239,424 15,304 UNRESTRICTED FUNDS Arthur Clark legacy E 3,412.58 shares CBFIF Inv. Fund Children's & Youth Work 1,958 26,785 65,416 69,914 4,498 Marjorie Wilkinson bequest E 9,473.52 shares CBFIF Inv. Fund General 5,437 91,887 181,599 194,087 12,488 PCC General fund E 3,989.56 shares COIF Ethical Inv. Fund (3) General 328 7,693 10,353 11,004 651 PCC Curacy fund E 780.52 shares COIF Ethical Inv. Fund (3) Curacy 64 1,505 2,025 2,153 128 PCC Benefice fund E 416.10 shares COIF Ethical Inv. Fund (3) (4) General 34 802 1,080 1,148 68 UNRESTRICTED FUNDS - total 7,821 128,673 260,473 278,306 17,833 INTEREST RECEIVED General 93 TOTAL INVESTMENTS 14,656 184,718 484,593 517,730 33,137 Parochial Church Council of St John and St Stephen, Reading Represented By 6 SCHEDULE OF INVESTMENTS - INCOME AND RE-VALUATION Notes to the Financial Statements for the year ended 31 December 2020 |
Fund S t a t u s Benefic'y Fund (income) Income Received in year Acquisition Cost Market Value at 01/01/2020 Market Value at 31/12/2020 Gain / (Loss) over Period excluding sales & purchases RESTRICTED ENDOWMENT FUNDS Church Expenses fund P 110 shares CBFIF Inv. Fund (1) General 63 74 2,109 2,254 145 Curacy endowment P 2,646 shares CBFIF Inv. Fund Curacy 1,519 2,449 50,721 54,209 3,488 P 156.18 shares CBFIF Inv. Fund (2) Curacy 90 1,308 2,994 3,200 206 Benefice endowment P 156.18 shares CBFIF Inv. Fund (2) General 90 1,308 2,994 3,200 206 Princes Street Mission Rooms P 7,049.79 shares COIF Ethical Inv. Fund (5) General 579 642 18,294 19,445 1,151 P 112 shares CBFIF Inv. Fund General 64 102 2,147 2,295 148 P 7,557 shares CBFIF Inv. Fund General 4,337 50,163 144,861 154,823 9,962 RESTRICTED ENDOWMENT FUNDS - total 6,742 56,045 224,120 239,424 15,304 UNRESTRICTED FUNDS Arthur Clark legacy E 3,412.58 shares CBFIF Inv. Fund Children's & Youth Work 1,958 26,785 65,416 69,914 4,498 Marjorie Wilkinson bequest E 9,473.52 shares CBFIF Inv. Fund General 5,437 91,887 181,599 194,087 12,488 PCC General fund E 3,989.56 shares COIF Ethical Inv. Fund (3) General 328 7,693 10,353 11,004 651 PCC Curacy fund E 780.52 shares COIF Ethical Inv. Fund (3) Curacy 64 1,505 2,025 2,153 128 PCC Benefice fund E 416.10 shares COIF Ethical Inv. Fund (3) (4) General 34 802 1,080 1,148 68 UNRESTRICTED FUNDS - total 7,821 128,673 260,473 278,306 17,833 INTEREST RECEIVED General 93 TOTAL INVESTMENTS 14,656 184,718 484,593 517,730 33,137 Parochial Church Council of St John and St Stephen, Reading Represented By 6 SCHEDULE OF INVESTMENTS - INCOME AND RE-VALUATION Notes to the Financial Statements for the year ended 31 December 2020 |
Fund S t a t u s Benefic'y Fund (income) Income Received in year Acquisition Cost Market Value at 01/01/2020 Market Value at 31/12/2020 Gain / (Loss) over Period excluding sales & purchases RESTRICTED ENDOWMENT FUNDS Church Expenses fund P 110 shares CBFIF Inv. Fund (1) General 63 74 2,109 2,254 145 Curacy endowment P 2,646 shares CBFIF Inv. Fund Curacy 1,519 2,449 50,721 54,209 3,488 P 156.18 shares CBFIF Inv. Fund (2) Curacy 90 1,308 2,994 3,200 206 Benefice endowment P 156.18 shares CBFIF Inv. Fund (2) General 90 1,308 2,994 3,200 206 Princes Street Mission Rooms P 7,049.79 shares COIF Ethical Inv. Fund (5) General 579 642 18,294 19,445 1,151 P 112 shares CBFIF Inv. Fund General 64 102 2,147 2,295 148 P 7,557 shares CBFIF Inv. Fund General 4,337 50,163 144,861 154,823 9,962 RESTRICTED ENDOWMENT FUNDS - total 6,742 56,045 224,120 239,424 15,304 UNRESTRICTED FUNDS Arthur Clark legacy E 3,412.58 shares CBFIF Inv. Fund Children's & Youth Work 1,958 26,785 65,416 69,914 4,498 Marjorie Wilkinson bequest E 9,473.52 shares CBFIF Inv. Fund General 5,437 91,887 181,599 194,087 12,488 PCC General fund E 3,989.56 shares COIF Ethical Inv. Fund (3) General 328 7,693 10,353 11,004 651 PCC Curacy fund E 780.52 shares COIF Ethical Inv. Fund (3) Curacy 64 1,505 2,025 2,153 128 PCC Benefice fund E 416.10 shares COIF Ethical Inv. Fund (3) (4) General 34 802 1,080 1,148 68 UNRESTRICTED FUNDS - total 7,821 128,673 260,473 278,306 17,833 INTEREST RECEIVED General 93 TOTAL INVESTMENTS 14,656 184,718 484,593 517,730 33,137 Parochial Church Council of St John and St Stephen, Reading Represented By 6 SCHEDULE OF INVESTMENTS - INCOME AND RE-VALUATION Notes to the Financial Statements for the year ended 31 December 2020 |
Fund S t a t u s Benefic'y Fund (income) Income Received in year Acquisition Cost Market Value at 01/01/2020 Market Value at 31/12/2020 Gain / (Loss) over Period excluding sales & purchases RESTRICTED ENDOWMENT FUNDS Church Expenses fund P 110 shares CBFIF Inv. Fund (1) General 63 74 2,109 2,254 145 Curacy endowment P 2,646 shares CBFIF Inv. Fund Curacy 1,519 2,449 50,721 54,209 3,488 P 156.18 shares CBFIF Inv. Fund (2) Curacy 90 1,308 2,994 3,200 206 Benefice endowment P 156.18 shares CBFIF Inv. Fund (2) General 90 1,308 2,994 3,200 206 Princes Street Mission Rooms P 7,049.79 shares COIF Ethical Inv. Fund (5) General 579 642 18,294 19,445 1,151 P 112 shares CBFIF Inv. Fund General 64 102 2,147 2,295 148 P 7,557 shares CBFIF Inv. Fund General 4,337 50,163 144,861 154,823 9,962 RESTRICTED ENDOWMENT FUNDS - total 6,742 56,045 224,120 239,424 15,304 UNRESTRICTED FUNDS Arthur Clark legacy E 3,412.58 shares CBFIF Inv. Fund Children's & Youth Work 1,958 26,785 65,416 69,914 4,498 Marjorie Wilkinson bequest E 9,473.52 shares CBFIF Inv. Fund General 5,437 91,887 181,599 194,087 12,488 PCC General fund E 3,989.56 shares COIF Ethical Inv. Fund (3) General 328 7,693 10,353 11,004 651 PCC Curacy fund E 780.52 shares COIF Ethical Inv. Fund (3) Curacy 64 1,505 2,025 2,153 128 PCC Benefice fund E 416.10 shares COIF Ethical Inv. Fund (3) (4) General 34 802 1,080 1,148 68 UNRESTRICTED FUNDS - total 7,821 128,673 260,473 278,306 17,833 INTEREST RECEIVED General 93 TOTAL INVESTMENTS 14,656 184,718 484,593 517,730 33,137 Parochial Church Council of St John and St Stephen, Reading Represented By 6 SCHEDULE OF INVESTMENTS - INCOME AND RE-VALUATION Notes to the Financial Statements for the year ended 31 December 2020 |
Fund S t a t u s Benefic'y Fund (income) Income Received in year Acquisition Cost Market Value at 01/01/2020 Market Value at 31/12/2020 Gain / (Loss) over Period excluding sales & purchases RESTRICTED ENDOWMENT FUNDS Church Expenses fund P 110 shares CBFIF Inv. Fund (1) General 63 74 2,109 2,254 145 Curacy endowment P 2,646 shares CBFIF Inv. Fund Curacy 1,519 2,449 50,721 54,209 3,488 P 156.18 shares CBFIF Inv. Fund (2) Curacy 90 1,308 2,994 3,200 206 Benefice endowment P 156.18 shares CBFIF Inv. Fund (2) General 90 1,308 2,994 3,200 206 Princes Street Mission Rooms P 7,049.79 shares COIF Ethical Inv. Fund (5) General 579 642 18,294 19,445 1,151 P 112 shares CBFIF Inv. Fund General 64 102 2,147 2,295 148 P 7,557 shares CBFIF Inv. Fund General 4,337 50,163 144,861 154,823 9,962 RESTRICTED ENDOWMENT FUNDS - total 6,742 56,045 224,120 239,424 15,304 UNRESTRICTED FUNDS Arthur Clark legacy E 3,412.58 shares CBFIF Inv. Fund Children's & Youth Work 1,958 26,785 65,416 69,914 4,498 Marjorie Wilkinson bequest E 9,473.52 shares CBFIF Inv. Fund General 5,437 91,887 181,599 194,087 12,488 PCC General fund E 3,989.56 shares COIF Ethical Inv. Fund (3) General 328 7,693 10,353 11,004 651 PCC Curacy fund E 780.52 shares COIF Ethical Inv. Fund (3) Curacy 64 1,505 2,025 2,153 128 PCC Benefice fund E 416.10 shares COIF Ethical Inv. Fund (3) (4) General 34 802 1,080 1,148 68 UNRESTRICTED FUNDS - total 7,821 128,673 260,473 278,306 17,833 INTEREST RECEIVED General 93 TOTAL INVESTMENTS 14,656 184,718 484,593 517,730 33,137 Parochial Church Council of St John and St Stephen, Reading Represented By 6 SCHEDULE OF INVESTMENTS - INCOME AND RE-VALUATION Notes to the Financial Statements for the year ended 31 December 2020 |
|---|---|---|---|---|---|---|---|---|
| Fund | S t a t u s |
Represented By | Benefic'y Fund (income) |
Income Received in year |
Acquisition Cost |
Market Value at 01/01/2020 |
Market Value at 31/12/2020 |
Gain / (Loss) over Period excluding sales & purchases |
| RESTRICTED ENDOWMENT FUNDS Church Expenses fund P |
110 shares CBFIF Inv. Fund (1) |
General | 63 | 74 | 2,109 | 2,254 | 145 | |
| Curacy endowment | P P |
2,646 shares CBFIF Inv. Fund 156.18 shares CBFIF Inv. Fund (2) |
Curacy Curacy |
1,519 90 |
2,449 1,308 |
50,721 2,994 |
54,209 3,200 |
3,488 206 |
| Benefice endowment | P | 156.18 shares CBFIF Inv. Fund (2) |
General | 90 | 1,308 | 2,994 | 3,200 | 206 |
| Princes Street Mission Rooms | P P P |
7,049.79 shares COIF Ethical Inv. Fund (5) 112 shares CBFIF Inv. Fund 7,557 shares CBFIF Inv. Fund |
General General General |
579 64 4,337 |
642 102 50,163 |
18,294 2,147 144,861 |
19,445 2,295 154,823 |
1,151 148 9,962 |
| RESTRICTED ENDOWMENT FUNDS - total | 6,742 | 56,045 | 224,120 | 239,424 | 15,304 | |||
| UNRESTRICTED FUNDS Arthur Clark legacy |
E | 3,412.58 shares CBFIF Inv. Fund | Children's & Youth Work |
1,958 | 26,785 | 65,416 | 69,914 | 4,498 |
| Marjorie Wilkinson bequest | E | 9,473.52 shares CBFIF Inv. Fund | General | 5,437 | 91,887 | 181,599 | 194,087 | 12,488 |
| PCC General fund | E | 3,989.56 shares COIF Ethical Inv. Fund (3) | General | 328 | 7,693 | 10,353 | 11,004 | 651 |
| PCC Curacy fund | E | 780.52 shares COIF Ethical Inv. Fund (3) | Curacy | 64 | 1,505 | 2,025 | 2,153 | 128 |
| PCC Benefice fund | E | 416.10 shares COIF Ethical Inv. Fund (3) (4) | General | 34 | 802 | 1,080 | 1,148 | 68 |
| UNRESTRICTED FUNDS - total | 7,821 | 128,673 | 260,473 | 278,306 | 17,833 | |||
| INTEREST RECEIVED | General | 93 | ||||||
| TOTAL INVESTMENTS | 14,656 | 184,718 | 484,593 | 517,730 | 33,137 |
Details of the status of each Endowment Fund is shown above. Status: P = Perpetual; E = Expendable
CBFIF = Central Board of Finance of the Church of England Investment Fund. COIF = Charities Official Investment Fund.
Income from each Fund is expended as shown, in accordance with the restrictions (if any) for each fund.
-
1 Managing Trustees are Vicar & Churchwardens (income mandated to PCC).
-
2 Venner Memorial and Hettie Wilkinson bequest.
-
3 Purchased 29 October 2015.
-
4 Includes £750 re Spencer legacy.
-
5 Switched from Charities Investment Fund 1 July 2018 (£16,242).
Parochial Church Council of St John and St Stephen, Reading Notes to the Financial Statements for the year ended 31 December 2020
| 7 DEBTORS & PREPAYMENTS | 2020 | 2019 | |||
|---|---|---|---|---|---|
| £ | £ | ||||
| Income tax recoverable | 3,717 | 3,469 | |||
| Prepayments: | |||||
| Church insurance | 1,431 | 1,415 | |||
| Church House insurance | 366 | 361 | |||
| Other: | |||||
| Church House 1 rent | 800 | 800 | |||
| Loan to church member - outstanding sum for repayment | 450 | 450 | |||
| IEL Tutors - rent | 0 | 150 | |||
| Reading Deanery Synod - Parish Share rebate | 2,476 | 0 | |||
| Other debtors | 79 | 42 | |||
| Total | 9,318 | 6,686 | |||
| 8 CASH ON HAND AND AT BANK | 2020 | 2019 | |||
| £ | £ | ||||
| Balance at year-end: | |||||
| CAF Bank | 11,457 | 1,988 | |||
| Virgin Money Charity Deposit account | 19,853 | 18,798 | |||
| Community Savings & Loans | 11,096 | 11,096 | |||
| Reading Hydro Project | 1,000 | 0 | |||
| 43,406 | 31,883 | ||||
| Cash on Hand | 59 | 38 | |||
| Cash/bank suspense (awaiting banking) | 0 | 0 | |||
| Total | 43,465 | 31,921 | |||
| 9 LIABILITIES - AMOUNTS FALLING DUE WITHIN ONE | YEAR | 2020 | 2019 | ||
| £ | £ | ||||
| Creditors: | |||||
| Ecotricity - Church electricity | Unrestricted | 109 | 199 | ||
| Ecotricity - Refectory gas | Unrestricted | (24) | 93 | ||
| Abacus Cleaning Services - church cleaning | Unrestricted | 88 | 423 | ||
| St John's School - gas | Unrestricted | 120 | 189 | ||
| Mark Sergent - roof repairs | Unrestricted | 550 | 0 | ||
| Independent Examiners Ltd. - independent examination fees | Unrestricted | 660 | 720 | ||
| BTS - photocopies | Unrestricted | 36 | 279 | ||
| Clergy expenses awaiting claim/payment | Unrestricted | 137 | 187 | ||
| Daisy / Vodafone - telephone & broadband | Unrestricted | 0 | 31 | ||
| IEL Tutors - key deposit | Unrestricted | 50 | 50 | ||
| Jack Stacy - Church House 1 garden maintenance | Unrestricted | 40 | 200 | ||
| ODBF - LLM fees | Unrestricted | 90 | 0 | ||
| Other creditors | Unrestricted | 18 | 59 | ||
| Total | 1,874 | 2,431 | |||
| 10 ANALYSIS OF ASSETS AND LIABILITIES | Total | Total | |||
| Unrestricted | Restricted | Endowment | 2020 | 2019 | |
| Balances at year-end: | £ | £ | £ | £ | £ |
| Tangible Fixed Assets | 0 | 200,369 | 307,650 | 508,019 | 508,019 |
| Investments | 278,306 | 0 | 239,424 | 517,730 | 484,593 |
| Current Assets | 51,735 | 1,048 | 0 | 52,783 | 38,607 |
| Current Liabilities | (1,874) | 0 | 0 | (1,874) | (2,431) |
| Total | 328,167 | 201,418 | 547,074 | 1,076,659 | 1,028,789 |
Any minor differences in totals are due to roundings.
(12)
Parochial Church Council of St John and St Stephen, Reading Notes to the Financial Statements for the year ended 31 December 2020
11 MOVEMENT BY FUND
| 11 MOVEMENT BY FUND | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Balance | Gains & | Balance | |||||||
| 1 Jan | 2020 | Income | Expenditure | Transfers | (Losses) | 31 Dec | 2020 | ||
| Notes | £ | £ | £ | £ | £ | £ | |||
| CAPITAL FUNDS | |||||||||
| Endowment - freehold land & bldgs | 5 | 307,650 | 0 | 0 | 0 | 0 | 307,650 | ||
| Endowment - other | 6 | 224,120 | 0 | 0 | 0 | 15,305 | 239,424 | ||
| Total Endowment Funds | 531,770 | 0 | 0 | 0 | 15,305 | 547,074 | |||
| Unrestricted Capital Funds | 6 | 260,473 | 0 | 0 | 0 | 17,833 | 278,306 | ||
| Restricted Capital Funds | |||||||||
| Freehold land & buildings | 5 | 200,369 | 0 | 0 | 0 | 0 | 200,369 | ||
| Total Capital Funds | 992,612 | 0 | 0 | 0 | 33,137 | 1,025,750 | |||
| UNRESTRICTED FUNDS | |||||||||
| General | 12 | 0 | 90,285 | 76,884 | (13,401) | 0 | 0 | ||
| Mission | 0 | 0 | 19,100 | 19,100 | 0 | 0 | |||
| Other Funds: | |||||||||
| Repair | 0 | 0 | 0 | 0 | 0 | 0 | |||
| Church House letting | 14,984 | 17,880 | 1,021 | (5,699) | 0 | 26,144 | |||
| Other legacies/gifts | 12,196 | 0 | 0 | 0 | 0 | 12,196 | |||
| Children's & youth work | 7,905 | 1,958 | 281 | 0 | 0 | 9,583 | |||
| Church Lunches | 0 | 556 | 556 | 0 | 0 | 0 | |||
| Sundry events | 0 | 0 | 0 | 0 | 0 | 0 | |||
| Parish Relief | 266 | 0 | 0 | 0 | 0 | 266 | |||
| Curacy | 0 | 1,672 | 0 | 0 | 0 | 1,672 | |||
| Total Unrestricted Funds | 35,351 | 112,352 | 97,841 | 0 | 0 | 49,862 | |||
| RESTRICTED FUNDS | |||||||||
| Flowers | 662 | 219 | 177 | 0 | 0 | 703 | |||
| Sundry collections & donations | 0 | 415 | 415 | 0 | 0 | 0 | |||
| Leavers' Bibles | 164 | 626 | 463 | 0 | 0 | 327 | |||
| Other minor funds | 0 | 145 | 128 | 0 | 0 | 17 | |||
| Total Restricted Funds | 825 | 1,405 | 1,182 | 0 | 0 | 1,048 | |||
| TOTAL Revenue Funds | 36,176 | 113,757 | 99,024 | 0 | 0 | 50,910 | |||
| TOTAL Capital and Revenue Funds | 1,028,789 | 113,757 | 99,024 | 0 | 33,137 | 1,076,659 |
Restricted funds are wholly represented by cash reserves of the PCC. The purpose of each fund is outlined below:
Freehold land & buildings (restricted) - capitalisation of refectory building costs. General - income and expenses relating to running of church.
Mission - grants to mission partners at home and abroad, sourced from General Fund income. Repair - major maintenance & equipment expenditure (expended in 2019). Church House letting - letting income and expenses relating to nos. 1 & 2 Church House. Other legacies/gifts - for expending at PCC's discretion.
Children's & youth work - mostly funded by income from invested capital of Arthur Clark legacy (see note 6). Church Lunches - income and expenditure relating to Sunday lunches.
Sundry events - income and expenditure relating to special events (including Chorate) (none in 2020). Parish Relief - used at discretion of clergy to provide assistance in cases of social need. Curacy - dividend income and housing & travel expenses of Curate.
Flowers - church flowers and other adornments.
Sundry collections & donations - gifts for specific items and donations to charities not separately identified. Leavers' Bibles - given to Year 6 children on leaving St John's School.
Other minor funds - primarily bibles/books bought by church members.
Any minor differences in totals are due to roundings.
(13)
Parochial Church Council of St John and St Stephen, Reading Notes to the Financial Statements for the year ended 31 December 2020
12 ANALYSIS OF GENERAL FUND
- (incl. Mission)
| Opening Balance Income Donations Tax Reclaim Investment Income & bank interest Other Total Income Expenditure Parish Share Mission - note (a) Other Outward Giving Publicity Personnel (incl. interregnum) Entertainment/hospitality Electricity, Gas & Water Insurance, Repairs & Maintenance Cleaning Other Running Costs Total Expenditure Surplus/(Shortfall) before transfers Transfers from / (to) other funds - note (b) Net Total Closing Balance |
2020 £ 0 59,350 13,533 11,024 6,379 90,285 48,383 19,100 2,600 2,260 9,224 339 2,200 5,225 2,241 4,412 95,984 (5,699) 5,699 0 0 |
Higher/ £ Lower - 532 Lower 623 Lower 222 Higher 1,764 Higher 832 Higher 5,380 Higher 400 Lower 2,600 Higher 2,260 Lower 1,232 Lower 1,313 Lower 1,060 Lower 5,264 Lower 3,269 Lower 1,406 Lower 8,223 Lower 9,055 Lower 9,055 Lower with 2019 Comparison |
|---|---|---|
| - | ||
| - | ||
| 0 |
Any minor differences in totals are due to roundings.
Notes
(a) All money given to mission is transferred from the General Fund.
(b) Transfers include £5,699 in 2020 and £14,736 in 2019 from the Church House Letting Fund in order to balance the General Fund to zero.
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Parochial Church Council of St John and St Stephen, Reading Notes to the Financial Statements for the year ended 31 December 2020
| 13 ANALYSIS OF OUTWARD GIVING Per Church's "Mission Giving" A Rocha Christian Aid Christian Community Action Christians Against Poverty (CAP) Church Missionary Society (CMS) Circles UK CTEER Schools Project (RE-Inspired) Communicare FAITH (ReadiFood) International Nepal Fellowship LAMB Healthcare Foundation (Bangladesh) Legal Rights Partnership Newtown gate project Ras Morbat Clinic, Yemen Reading Refugee Support Group St John's School Projects World Land Trust / Green Christian Total "Mission Giving" Other Outward Giving Bishop of Oxford's Outreach Fund Christian Aid (via Church) Churches in Reading Women's Centre FAITH (Bed For a Night) FAITH (ReadiFood) International Nepal Fellowship LAMB Healthcare Foundation (Bangladesh) - Chorate Leprosy Mission My Cancer My Choices (Chris Thorne memorial) Peter & Nancy Crooks Reading Deanery Synod Reading Refugee Support Group St John's School (Bibles for School Leavers) Simeon's Trustees World Land Trust / Green Christian Yeldhall Manor Other (incl. Parish Relief) Total Other Outward Giving GRAND TOTAL Outward Giving |
2020 £ 500 2,250 500 100 2,000 1,000 750 5,000 2,000 2,000 1,000 250 - 1,000 250 - 500 19,100 - - - 171 - - - 50 - 365 2,500 - 463 100 - 322 - 3,971 23,071 |
2019 £ 200 2,700 - 100 2,000 1,000 500 6,300 1,000 3,000 1,000 - 100 - 500 1,000 100 |
|---|---|---|
| 19,500 | ||
| 398 449 115 173 163 212 655 109 231 - - 166 428 - 178 - 704 |
||
| 3,981 | ||
| 23,481 |
- ex General Fund
(15)