## **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 (1) 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: 1. 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. 2. Risk assessment for reopening the church building for worship. 3. Regular reviews of safeguarding. 4. Regular reviews of finance, including the Mission Budget, Church House rents and financial controls. 5. Review and acceptance of the Diocesan Energy Audit (November 2020). 6. Fabric issues including maintenance of the forecourt garden and work arising from the Energy Audit. 7. 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 (2) 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 (3) INDEPENDENT ExA￿lINER's REPORT ON THE PAROCHIAL CHURCH COUNCIL OF ST JOHN Af*D 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¢em￿r ?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 requiren￿l 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 ￿)nSequen￿e 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 a￿kn"1 and is ell￿ble 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 Directi￿5 giiEn ￿. the Clkiritv Conm)ibbiÉ)n under secli()n 14i(51ib) of Act. dnd to state ii'hether t￿rtICUlar T￿tters 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" Un￿￿7 iicmi or disclo￿ur¢8 in th¢ accounts. and vk'ing ciplanations fToin the trustees Concerning nlltiers. The p￿￿edureS 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￿. Indep￿￿tht 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 res￿1. 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 prO￿r utmletslanding of the accounts io be rcachcd. P B Robinbon MAAT FC Inde￿nden[ 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._ (5) Parochial Church Council of St John and St Stephen, Reading Balance Sheet as at 31 December 2020 2020 2019 FIXED ￿￿ETs Inve5tffl2 T8Wt[eF￿8dAS$tts 517.7XJ .019 ,019 TOTNL FIXED ASSErs 1.0247x1 992.612 JRRENT A$s￿s 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. (7) ## **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._ (8) ## **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._ (9) ## **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. (10) |**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. (14) ## **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)