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2021-12-31-accounts

Caring. Open. Engaged.

TRUSTEES ANNUAL REPORT and FINANCIAL STATEMENTS

Parochial Church Council of the Ecclesiastical Parish of St John the Evangelist with St Stephen, Reading

April 2022 Registered charity number 1127821

St John and St Stephen’s Church

TRUSTEES ANNUAL REPORT

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the parochial church council’s governing document, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable in the UK and Republic of Ireland (FRS102)(effective 1 January 2019).

Aim and purpose

St John and St Stephen’s Parochial Church Council (PCC) has the responsibility of cooperating with the incumbent, the Reverend Claire Alcock, in promoting in the ecclesiastical parish, the whole mission of the Church, pastoral, evangelistic, social and ecumenical. The PCC is also specifically responsible for the maintenance of St John and St Stephen’s Church building in Orts Road, Reading.

Objectives and activities

When planning activities, the PCC has made decisions in accordance with the Charity Commission’s guidance on public benefit. As a church we have five mission priorities: community, school, pastoral care and spiritual growth, families, and Eco church.

Community: The PCC is committed to furthering the vision of St John and St Stephen “to seek to serve our community in East Reading”, offering a particular welcome to those who feel wounded by life. Our aim is to be more of a neighbourhood church, for our fellowship to be more diverse and to find ways to engage with the residents of the new apartments north of the Kennet.

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School: The Church is physically attached to St John’s C of E Primary School and we enjoy a close relationship with them via assemblies and shared use of our worship space. School parents and carers regularly hang out in our weekday cafe, forging friendship and sharing day to day issues. We aim to continue to strengthen our bond with the school and to support the leadership.

Pastoral care and spiritual growth: Our Sunday worship is centred on the Holy Communion service, with good preaching, varied music, children’s groups and refreshments afterwards. We seek to go deeper in our worship via contemplation and shared prayer needs, and to be real with God and with each other.

We value preaching highly and our small groups provide an opportunity to explore faith and life issues further. We aim to give everyone in church a chance to go deeper with God through existing small groups, and emerging new ones, and to work towards a culture of nurture courses that can be available to those who are exploring faith at any level.

Families: We are seeking ways to develop our weekly Sunday youth and children’s work amid changing social patterns. We aim to strengthen engagement with and nurture the children and young people connected to us, and their families, and to find the best ways to engage with emerging generations, so that living faith develops that is robust and sustainable amidst changing cultural patterns.

Eco Church: We are an Eco Church committed to tackling current issues of climate injustice. Our aim is to continue to pioneer and highlight green issues in our own congregational life, in our local area, and with our MPs nationally and globally.

We seek to integrate prayer and social action and many of us are involved in local social projects as an active outworking of our faith in Jesus Christ, as we seek to make a difference in the world. We are exploring with our Diocese what it means to be a more Christ-like Church for the sake of the world, incorporating the three values of contemplation, compassion and courage.

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ACHIEVEMENTS AND PERFORMANCE

Pandemic Impact

The last 12 months has seen a gradual return to our pre-pandemic practices, with most meetings now ‘in-person’. We re-introduced singing within our Sunday worship, masks are currently optional, and seating is still spaced, with plenty of ventilation. We have not yet returned to the Eucharistic ‘common cup’, but we continue with 'priest intinction’ and wafers, for the time being.

We have been glad for the opportunity to learn how to film, and then to livestream services – with grateful thanks to those who have guided us on this and who have put in the hard work. The ability to join Sunday worship online if for whatever reason you are unable to attend in-person, is a post-pandemic benefit.

Our Centre Manager and parish administrator is now working three mornings for us, with one of those working from home. The café drop-in for parents and carers is now open Monday, Wednesday and Thursday mornings, 9-10.30.

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Highlights

year now

(search St John and St Stephen’s Reading)

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Diocesan materials

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Worship and Prayer

Numbers attending Sunday worship have returned to pre-pandemic levels, with a slight increase in the number of children and young people.

The use of Google slides as a method of presenting the Sunday morning worship (started in 2020) is advantageous, as it allows a number of people to edit the bits they’re responsible for during the week. Preparation for worship is therefore more collaborative and creative. With a whole set of templates to cover all seasons, it is anticipated that the initial amount of work this method created, will from now on be greatly mitigated.

We are grateful to our music teams, co-ordinated and led by Sue and Hamish Bruce, for the ways in which their playing enhances our worship every week, including when we are worshipping outdoors.

We continue to explore ways our children can be fully involved in the monthly all age service; in songs chosen from the Children’s Praise Plus repertoire, in producing short printed prayers that children can pray at the microphone, and in continuing to include children in the distribution of communion and in reading the gospel and sharing their experiences in the all age talk.

The regular preaching team numbers 7 people (with occasional input from one or two others) and so we are well resourced in comparison to other churches. Recently some of our team have been able to offer their preaching skill in another local church, as needed. Café Communion is regular through term time on a Thursday morning, as is Morning Prayer, which is both online and in the building, on a Monday and Wednesday at 9am. Anyone is warmly welcome to attend.

Two funerals took place this year in the church building; as yet there have been no baptisms though one is planned. A number of wedding couples have had banns read in the church, but no weddings took place in the building.

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Pastoral Care

‘Caring, Open, Engaged’. So, in what ways are we caring?

Traditionally the church understands pastoral care as a one to one encounter between someone feeling called to this role and those to whom they offer care on a regular basis, whether face to face by visiting, or at a distance (phoning, texting, WhatsApp etc). St John and St Stephen’s has a number of people who do this. Recently Claire and I met with some of them to consider whether they might appreciate getting together occasionally. Such meetings can provide mutual support and keep us in touch not only with those receiving pastoral care but also people whom we might overlook. A second meeting is taking place later this month.

There may also be a group understanding of pastoral care. So, at St John and St Stephen’s our home groups are places where there is a high level of pastoral care. This might be very practical – helping someone move house, for example, or giving a lift to the hospital. Or through prayer – some groups have an active WhatsApp group that alerts members to prayer needs. Home group leaders usually have a significant pastoral role. Claire met with them during the year to find out more.

Our building offers pastoral care. On Sundays one of our Welcomers may be the first person to show care in listening to whatever news someone brings with them. During the week our café offers a caring, hospitable space to those who drop in. The Fireside group offers care to those bringing questions and doubts about God, faith, the church (well, almost anything!). Over the years St John’s has developed a model of pastoral care which is simply about looking out for each other. Mutuality and friendship characterise it. It’s a healthy model as long as it can include those who don’t necessarily belong to any of the current groupings. This may be something to watch as the church grows.

Christine Bainbridge

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Electoral Roll

Our revised electoral role was completed in April 2022. There are 91 parishioners on the Church Electoral Roll - 2 names were added during the year and 6 were removed; 2 due to death, 3 moved away from the Parish and 1 had stopped attending church for over 6 months.

CHURCH BUILDING

St John and St Stephen’s Parish Centre

Following the Church energy Audit in October 2020 the Buildings and Plant Group was established and has met approximately every 4-6 weeks since then. Members are Hugh Fisher (chair), Les Pullen, Richard Bainbridge and Rosemary Croft (secretary). We have slowly worked through the recommendations the audit contained (full report available on request), the largest and most costly improvement to date having been double glazing of the office windows.

The other major work considered was cavity wall insulation, but the original company contracted to do this stopped doing wall insulation work and the cost of the next quote obtained was £7,600 (up from £1,700), so this has been put on hold while we consider alternative solutions. A faculty was obtained for both the windows and the cavity wall insulation.

Initial enquiries have been made into the possible installation of solar panels, for both the Church and the School, and Jeremy Thake is providing technical support for these projects.

We are also looking at the option of secondary glazing for the long church windows and the front lobby windows (the corona windows are double glazed already). Replumbing of the office and front foyer radiators from the School heating circuit to the Refectory boiler system was considered, but found to be expensive with little gain. Longer-term we are looking into possible alternatives for the School boilers and the central heating system as these boilers approach the end of their life.

Other works include;

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The Diocesan church energy footprint rates us as “C”.

We are grateful to Les Pullen and Hugh Fisher, who between them carry out the majority of maintenance work, saving the church quite a bit of expenditure!

Other points to note are:

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Rosemary Croft Churchwarden

SAFEGUARDING

Safeguarding is high on the agenda of any organisation these days. At St John and St Stephen's our aim is to create a safe community where there is a culture of 'informed vigilance' on everyone’s part.

During the year, we have streamlined our processes, to ensure that everyone involved with children or vulnerable adults has completed the relevant level of Diocesan safeguarding training and has a current DBS check. Safeguarding is a standing item on the PCC agenda and together we have looked at some complex real life safeguarding lapses that took place in the Diocese, and what were the lessons learnt.

Anyone who is new to a role needs to go through the ‘Safer Recruitment’ process that our safeguarding policy details; this means a chat with the Incumbent about the role (e.g. working with children or young people); the person’s suitability for the role and the provision of a couple of character references. The details of safer recruitment, training and

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DBS checks are stored centrally on an excel spreadsheet that is being continuously updated. To date, there are nearly 40 people in our church who have engaged at least at the basic level with safeguarding awareness training.

Our Safeguarding processes are not an end in themselves; they are designed to raise awareness of potential dangers and create a safe space which allows us all to be in community together and to serve Christ with integrity.

Many, many thanks to all those who have completed the training and who continue to volunteer week by week.

Rachel Thake & Claire Alcock

FINANCE & GOVERNANCE

Deanery Synod

Two members of the PCC plus clergy sit on the deanery synod. This provides the

PCC with an important link between the parish and the wider structures of the

church.

Following the 2021 Synod AGM on 3rd March, on which we reported to last year’s APCM, Synod meetings continued to be by video conference on Zoom, in June and November, but in March we were able once again to meet in person – at St Barnabas Church in Emmer Green.

In this first year of the Synod’s new triennium, organisational capacity and communications within the Diocese’s largest deanery have been at the forefront of discussions, prompted by the departure of our Area Dean, Rev Graeme Fancourt, who held the role as a 0.5 part-time

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paid position. Before leaving us, Graeme led discussions at the June and November meetings as to what organisational model should be used for the future.

The model adopted (at the November meeting) builds on a division of the Deanery into four church groupings – North, West, Central and East/South – a division that Graeme had piloted in recent years by sharing his role as Dean with three Associate Deans: Rev Liz Ratcliffe, Fr Peter Day and Rev Mike Smith. (Our church falls within the Central grouping along with Greyfriars, St Laurence, Minster, St Giles, Christ Church, Whitley and Redlands.)

Developing that approach further, the role of Lay Chair was agreed also to be supported by three Associate lay Chairs, so that each of the four divisions would now have both a clergy and a lay lead person. Mark Burton has the role of Lay Chair as well as Treasurer for the Deanery, and is supported by Sue Mott, Roger Moore, and Alan Cross as Associate Lay Chairs.

The retirement of our previous voluntary Secretary has left the Deanery short of administrative/secretarial support with consequent lack of clear and timely communication. Although Graeme Fancourt said in November that there would be money to replace his 0.5 role and to provide administrative support, neither of those things has happened yet and the Lay Chair, Mark Burton has been doing his best to cover the gap. This is a continuing need.

On finances, it was agreed to hold parish share contributions unchanged in 2022, but it is anticipated the Diocese will need to increase Reading Deanery’s combined share in the coming year. So, the Parish Share Committee, which had been in abeyance, has now been re-elected with new members to carry out the work of recommending how this can be fairly shared across Reading’s churches.

News reported at the March meeting:

• Greyfriars’ new ‘Atrium’ café is now open and developing its ministry to the town centre community. It’s a drop-in meeting point and they want it to be accessible to all. So, to help with this, people are able to pay for gift vouchers, which they can give to someone

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who they know or can leave with the café staff to offer to people who come in and seem in need.

• PACT (Parents and Children Together) – CEO Philip Cook gave a presentation on their work. Founded in 1910 as an adoption agency in our diocese, it still focusses on adoption and support for adoptive families, and a key resource is its online Adopter Hub which all the families can access. Something churches could consider is sponsoring schools in their parish to gain access to the Hub – for three members of staff this costs ~£300 p.a. Lack of understanding in schools of how best to support adopted or fostered children is a significant issue, making their lives harder.

But PACT has other strands too:

programme and there are currently 100+ families on the waiting list.

If we have good news stories we are encourage to consider sharing them at the Synod too.

Chris Meunier and Jo Laynesmith

Financial Review

Annual Report 2021

Finances

It is pleasing to be able to report that the overall position for 2021 showed an excess of income over expenditure of £15.3k. Key points to report are:

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Once again the PCC is grateful 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. Giving continues for the most part at its pre-pandemic levels, the majority of donations being made by bank transfer.

The financial tables are set out on pages F1 to F12 following.

Banking . The Virgin Money Charity deposit account was closed, all our banking now being conducted through the current account held with the Charities Aid Foundation Bank, based in West Malling. No interest is paid on this account. The interest rate on the Virgin account was latterly 0.15% and the decision was made to invest the funds held in it (£19.9k), along with some surplus funds in the CAF account.

Total income amounted to £115.0k, an increase of £1.3k (1%) on 2020 (see Note 2 on page F5). Within this sum, donation income of £63.4k was £2.5k (4%) more than last year. Tax-efficient donations, including those received through charitable agencies such as CAF and Stewardship, accounted for 94% of all donation income (no change on 2020), while £14.1k was reclaimed from HMRC (3% increase). This was assisted by the ability to claim for cash donations up to £30 under the Gift Aid Small Donations Scheme, mostly in respect of loose cash given at church services. Investment income and interest of £15.5k was £0.8k (5%) higher than 2020. Lettings (Church House and Parish Centre) and sales income of £19.4k was £0.8k (4%) higher, reflecting increases in rent for the two let properties, while fees and other income of £2.6k were down by £3.2k (55%), for reasons explained below under General Fund. There were no major one-off gifts or legacies in the year.

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Total expenditure of £99.8k represented an increase of £0.8k (1%) over 2020 (see Note 3 on page F6), with increases in church running costs (which were at a very low level for much of 2020) slightly exceeding reductions in the Parish Share. All expenditure on children’s and youth work (£0.5k in 2021) continued to be funded by income received on money invested from Arthur Clark’s generous legacy. The majority of other expenditure comprised day-to-day 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 14 mission partners at home and abroad, with a further £2.9k from individual donations. This included £0.9k to The Leprosy Mission, plus a further £0.7k match funded from the Mission budget. Full details are set out at Note 13 (page F12).

The General Fund , including most donation income and church running costs, opened with a zero balance Income amounted to £88.6k, a decrease of £1.7k (2%) over 2020. Slightly higher donations, dividend and tax reclaim income was offset by lower miscellaneous income. This included rebates totalling £1.8k 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 £3.2k lower than 2020 due to that year having included both the 2019 and 2020 Deanery rebates, thereby creating an artificial income spike. Total running costs of £76.8k were marginally lower in total than 2020. Despite the Parish Share and grants made being £3.1k and £2.1k lower respectively, there were higher maintenance, equipment and publicity costs. The latter arose through having four printed editions of Newt , our free glossy magazine, instead of only two the year before. The Parish Share, as usual, comprised the largest single item of expenditure, amounting to £45.3k, a decrease of £3.1k (6%) over 2020, and was fully paid in regular instalments. A major project during the year was re-varnishing of the church worship area floor, which we undertook ourselves. In addition a new photocopier was purchased following terminal failure of the old one. The cost of utilities at £2.3k was £0.1k (5%) higher than 2020. However we ended the year in dispute with Ecotricity, in a billing debacle which apparently arose from their splitting of the church gas and electricity accounts. This initially manifested itself with a charge of £16,264 being collected by direct debit for an outstanding bill of under £100. This sum was reversed by the bank under the Direct Debit Guarantee but by the end of the year the billing was still not correct. Provision has been made

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in the accounts for outstanding payments based on our calculations, using current meter readings and charges. Gas for heating the church continues to be offcharged by the School, with no complications. The General Fund was balanced by a transfer of £8.2k from the Church House Letting Fund, leaving a closing balance of £2.0k against bills awaiting payment. Full details of the General Fund are set out at Note 12 (page F11).Broad analyses of General Fund income and expenditure are shown on the accompanying pie charts.

The capital value of the church’s investments showed a significant increase of £75.2k (15%) in the year, reflecting growth in the market. Dividend payments remained relatively constant throughout the year. As noted above, £25k was invested in the CCLA Charities Official Ethical Investment Fund and the higher level of dividend income has now come on stream. 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 2020 was £517.7k, of which £344.8k is unrestricted and £273.1k endowment. Full details of the investments are set out at Note 6 (page F8).

The closing balance across all funds stood at £1,167.2k (including freehold land and buildings), an increase of £90.5k (8%) over 2020.

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----- Start of picture text -----
General Fund Income - 2021
Investment
Income &
Other3%
Interest13%
Tax
Reclaims16%
Donations68%
----- End of picture text -----

----- Start of picture text -----
General Fund expenditure - 2021
Other 16%
Insnce &
Mtce10%
Parish
Share59%
Utilities3%
Personnel12%
----- End of picture text -----

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Volunteers

We would like to thank all the volunteers who work so hard to make our church the lively and vibrant community it is.

Structure, governance and management

The method of appointment of PCC members is governed by and set out in the Church Representation Rules. At St John and St Stephen’s the membership of the PCC consists of the incumbent (our vicar), other licensed ministers, churchwardens, members elected by those members of the congregation who are on the electoral roll of the church, and members co-opted to specific offices. All those who attend our services are encouraged to register on the Electoral Roll and stand for election to the PCC. All PCC members are required to undergo safeguarding training.

The PCC members are responsible for making decisions on all matters of general concern and importance to the parish including deciding on how the funds of the PCC are to be spent.

The full PCC met 6 times during the year with an average level of attendance of 85%. Sub-committees which deal with mission giving (Church Giving Advisory Group) and fabric and finance (Building and Plants Group) as well as the Standing Committee are responsible to the PCC and report back to it regularly. The PCC also receives regular reports from the Safeguarding Officer and Treasurer.

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Administrative information

St John and St Stephen’s Church is situated in Orts Road, Reading. It is part of the Diocese of Oxford within the Church of England. The correspondence address is 121-147 Orts Rd, Reading RG1 e-mail: office@stjohnandststephen.org.uk The PCC is a body corporate (PCC Powers Measure 1956, Church Representation Rules 2006) and a charity registered with the Charity Commission with charity number 1127821.

PCC members who have served at any time from 1[st] January 2021 until the date this report was approved are:

Incumbent (ex officio)

Revd. Claire Alcock CHAIR

Licensed Ministers (ex officio)

Christine Bainbridge Hamish Bruce Richard Croft Mark Laynesmith Jeremy Thake

Churchwardens (ex officio)

Rosemary Croft Ian Maynard

Elected Members

Term of Office ended 2021

Norma Stevenson

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Term of Office ends 2022

Hugh Fisher TREASURER

Richard Harwood Rod Jackson

Term of Office ends 2023

Jose Kennedy Elaine Maynard Les Pullen

Term of Office ends 2024

Dino D’Sa

Selena Peters

Ali Wilkinson

Co-opted Members

Bridget Barwick PCC SECRETARY

Rachel Thake SAFEGUARDING OFFICER

Elected Deanery Synod Representatives (ex officio)

Term of Office ends 2023

Joanna Laynesmith

Chris Meunier

Approved by the PCC on 12th May 2022 and signed on their behalf by the Reverend Claire Alcock (PCC Chair).

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INDEPENDE￿ EXAMINER'S REPORT ON THE PAROCHIAL CHURCH COUNCIL OF ST JOHN AND ST STEPHEN, READING This report on the ac¢ounLS of ¢he PCC of ￿ Jthn and St S¢¢phen Readiug fot the year ended 31￿ tkcember 2021, which are set out on pages F2 to Fl2. Respediyt RtspowÈlAlltlts of the PCC the EumiD¢r The member5 uf th¢ PCC are saiisfied thai the audit r¢quiremenl of scdi(1 144(21 of the Charitie5 Act 2011 lthc Acl) drts not apply. and thai th¢re is no requirem￿1 in the goi"eminE d￿wnenL8 ￿ constitution ofthe ChaTily Cor the ¢￿dUcting of an audit. As 8 consequen¢e the memtrr have electrd that the fEthan¢ia] staments k subject ￿ in[k￿ndent examittaiion. Ilaving saiisfied m)wlf thai the charity is OOL Subje￿ th audit and is eltgible fw an inderthdeni examination, il 15 my responsibility to.. examine the arcounts urmtr sectiLYt 145 of thc ACL 10 follow ihe procedures laid down in the General DirectI￿S gifvert ty the Charity commi&$i￿ under se¢tion 14515Mbl of the ACL and 10 stale whether particular matter5 have c(wc tymv alleniion. Basis of ittdtptlldtnt eA4miner s slt¢th¢t My examination was Larried oui in accordance wrth general Dtr¢ctsth￿ given by the ajariry Commission. An examinaii includes a revI￿V of thc accwnting re¢￿d$ kw by the charity and a CoTnpari5(￿ of the a¢eolltts presentrd with thosc records. It also includes ¢onsideraii(M of any unusual ims or dilosvrts in the aecouThLS. and se£king expla[￿10￿$ fr(ND the tru51ees cottcemin8 such mait¢rk The priKedvres ￿dertaken do ryomde a]1 the evidence that w'wld be reqllired in an audiL and consequently OpinE￿ is gii'en Is to Hthether accwtkts pre5eni a 'trye and faitr view and the report 15 limil¢d tothose mattejsset LWJt in the stal¢meni bel¥)w. l•depend¢Dt exAmiDer'5 Statement In connection with my examiTiatiot). no mauer hg com¢ io rnv atiention: which givcs me reas(Thble ca￿e w trKlieve that in. anv material lE5P￿L the tyu*es have n¢K met the requirements to ¢nsllr¢ thaL: . prO￿T accounting r￿d&are lin acrordance with scdi(m 130 of th¢ A¢i}' and . acLOUllts are prcrwcd wthich agrec with the acc(Kmting and c(mpty Mith tht acc¢MmuThg rtquircments ofthe Aa- or 2. ￿ which, in my opiThion. attcnuon shwld FK draw￿ in order to •Jabl¢ a prw undttstanditig of the attounts ts) reached. P B Robinson MAAT FCIE IndeNdent Examtners L Sovereign Centre Poplars Y&pton Lane W. Sussex BN180AS I'independent Datrd.. 28th Febnwy 2022 (Fl)

Parochial Church Council of St John and St Stephen, Reading Statement of Financial Activities for the year ended 31 December 2021

Unrestricted Restricted Endowment TOTAL FUNDS
Notes Funds Funds Funds 2021 2020
£ £ £ £ £
INCOME & ENDOWMENTS 2
Voluntary income 75,315 2,256 0 77,571 74,698
Activities for generating funds 19,438 0 0 19,438 18,645
Income from investments 15,455 0 0 15,455 14,655
Income from church activities 2,570 0 0 2,570 5,759
TOTAL INCOME & ENDOWMENTS 112,778 2,256 0 115,034 113,757
EXPENDITURE 3
Church activities 97,717 2,056 0 99,773 99,024
TOTAL EXPENDITURE 97,717 2,056 0 99,773 99,024
TRANSFERS 11
Transfers between funds 75 (75) 0 0 0
NET INCOME & ENDOWMENTS / (EXPENDITURE)
BEFORE OTHER RECOGNISED GAINS / LOSSES 15,136 125 0 15,261 14,733
GAINS / (LOSSES) ON INVESTMENTS 6
On revaluation 41,521 0 33,716 75,237 33,137
NET MOVEMENT IN FUNDS 56,657 125 33,716 90,498 47,871
BALANCES BROUGHT FORWARD
AT 1 JANUARY 328,167 201,418 547,074 1,076,659 1,028,789
BALANCES CARRIED FORWARD
AT 31 DECEMBER 384,824 201,543 580,790 1,167,157 1,076,659

Any minor differences in totals are due to roundings.

(F2)

Parochlal Church Councll of St John and St step￿n, Readlng Balance Sheet as at 31 December 2021 2020 FIXED A88Ef8 517.730 JoJ.oi? 0.019 1.12U 9,318 43.465 43274 52.783 12.1031 11.B741 41.171 10 1.187,1ST 381.824 201.543 328.161 201.418 547.074 1.167.Ifl l.On,869 Apwoved by tha Parcthia Chwth Ctsrril ￿ 28 Fetruy siffj on ils tehaw by Rewj. Clwre hJco( (F3)

Parochial Church Council of St John and St Stephen, Reading

Notes to the financial statements for the year ended 31 December 2021

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.

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

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).

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 invest other surplus funds in dividend-bearing shareholdings of the CCLA COIF Charities Ethical Investment Fund; (c) to invest selectively in local projects with a strong community interest; and (d) to hold other day-to-day 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.

(F4)

Parochial Church Council of St John and St Stephen, Reading Notes to the Financial Statements for the year ended 31 December 2021

Unrestricted Restricted Endowment TOTAL FUNDS
Funds Funds Funds 2021 2020
Notes £ £ £ £ £
2 INCOME & ENDOWMENTS
Voluntary income
Gift Aid & GASDS donations 55,268 1,285 0 56,553 54,990
Tax recoverable 13,817 321 0 14,138 13,748
Other giving - tax efficient 3,118 100 0 3,218 2,262
Other giving - non-tax efficient 3,111 550 0 3,661 3,699
Grants 0 0 0 0 0
Legacies 0 0 0 0 0
Total voluntary income 75,315 2,256 0 77,571 74,698
Sales and letting income
Sales income 0 0 0 0 165
Letting income 19,438 0 0 19,438 18,480
Total sales and letting income 19,438 0 0 19,438 18,645
Income from investments
Dividends and interest from investments 6 15,438 0 0 15,438 14,562
Bank interest 17 0 0 17 93
Total income from investments 15,455 0 0 15,455 14,655
Income from church activities
Fees 455 0 0 455 136
Other receipts 2,115 0 0 2,115 5,623
Total income from church activities 2,570 0 0 2,570 5,759
TOTAL INCOME & ENDOWMENTS 112,778 2,256 0 115,034 113,757

Any minor differences in totals are due to roundings.

(F5)

Parochial Church Council of St John and St Stephen, Reading Notes to the Financial Statements for the year ended 31 December 2021

Unrestricted Restricted Endowment TOTAL FUNDS
Funds Funds Funds 2021 2020
Notes £ £ £ £ £
3 EXPENDITURE
Church activities
Grants and gifts 13
Church overseas 2,250 320 0 2,570 2,415
Relief and development agencies 6,975 914 0 7,889 10,600
Home mission 10,890 674 0 11,564 10,056
Total grants and gifts 20,115 1,908 0 22,023 23,071
Ministry
Diocesan parish share 45,324 0 0 45,324 48,383
Salary 4 0 0 0 0 0
Other ministry costs 2,333 0 0 2,333 1,749
Training and education - note (a) 0 12 0 12 406
Total ministry 47,657 12 0 47,670 50,538
Church running and maintenance
Wages 4 0 0 0 0 0
Other running expenses 6,293 0 0 6,293 7,360
Church maintenance 3,343 0 0 3,343 2,022
Upkeep of services - note (b) 855 136 0 991 481
Other property upkeep 757 0 0 757 1,021
Major repairs (structure) 0 0 0 0 0
Furnishings and equipment 3,693 0 0 3,693 1,326
General administration 1,589 0 0 1,589 423
Bank charges 96 0 0 96 60
Total church running and maintenance 16,626 136 0 16,762 12,692
Support costs
Church activities 5,018 0 0 5,018 3,496
Administration Salary 4 7,640 0 0 7,640 8,687
Governance - examination fees 660 0 0 660 540
Total support costs 13,319 0 0 13,319 12,723
Total church activities 97,717 2,056 0 99,773 99,024
TOTAL EXPENDITURE 97,717 2,056 0 99,773 99,024

(a) Training and 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.

(F6)

Parochial Church Council of St John and St Stephen, Reading Notes to the Financial Statements for the year ended 31 December 2021

4 STAFF COSTS, TRUSTEE DONATIONS & EXPENSES
Wages and salaries
Employer's National Insurance costs
Employer's Pension costs
Total
Trustee donations
(15 Trustees in 2021, 14 in 2020)		 2021
2020
£
£
7,639
8,687
2
0
0
0
7,640
8,687
15,200
26,520

The 2020 Trustee donations figure was overstated and should read £15,930.

During the year, the PCC employed a Parish Centre Manager who earned under £60,000. The PCC operates HM Revenue & Customs' PAYE scheme for deduction of income tax and National Insurance payments.

In addition, the Vicar received £1,971 (£1,551 in 2020) in respect of expenses incurred in carrying out her duties and 5 other Trustees received £808 in total (6 other Trustees received £640 in 2020). Mr Leslie Pullen was engaged by the PCC on Courtyard garden construction works, for which he received £670.

There were no other disclosable transactions, material or otherwise, in respect of Trustees, persons closely connected with them or other related parties.

5 FIXED ASSETS
(a) Tangible Fixed Assets
Gross Book Value
At 1 January 2021
Revaluation
Additions at cost
At 31 December 2021
Depreciation
At 1 January 2021
Written off during Year
Charge for year
At 31 December 2021
Net Book Value
At 1 January 2021
At 31 December 2021		 2021
2020
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.

(F7)

Fund
S
t
a
t
u
s
Benefic'y
Fund
(income)
Income Received
in year
Acquisition Cost
Mid/NAV Market
Value at
01/01/2021
Bid Price Market
Value at
31/12/2021
Gain / (Loss)
over Period
excluding sales
& purchases
RESTRICTED ENDOWMENT FUNDS
Church Expenses fund
P
110 shares CBFIF Inv. Fund
(1)
General
65
74
2,254
2,573
319
Curacy endowment
P
2,646 shares CBFIF Inv. Fund
Curacy
1,573
2,449
54,209
61,881
7,672
P
156.18 shares CBFIF Inv. Fund
(2)
Curacy
93
1,308
3,200
3,653
453
Benefice endowment
P
156.18 shares CBFIF Inv. Fund
(2)
General
93
1,308
3,200
3,653
453
Princes Street Mission Rooms
P
7,049.79 shares COIF Ethical Inv. Fund (3)
General
594
642
19,445
22,028
2,584
P
112 shares CBFIF Inv. Fund
General
67
102
2,295
2,619
325
P
7,557 shares CBFIF Inv. Fund
General
4,491
50,163
154,823
176,733
21,911
RESTRICTED ENDOWMENT FUNDS - total
6,976
56,046
239,424
273,140
33,716
UNRESTRICTED FUNDS
Arthur Clark legacy
E
3,412.58 shares CBFIF Inv. Fund
Children's &
Youth Work
2,028
26,785
69,914
79,809
9,894
Marjorie Wilkinson bequest
E
9,473.52 shares CBFIF Inv. Fund
General
5,630
91,887
194,087
221,554
27,468
PCC General fund
E
12,713.13 shares COIF Ethical Inv. Fund (4)
General
704
32,693
11,004
39,725
3,721
PCC Curacy fund
E
780.52 shares COIF Ethical Inv. Fund (5)
Curacy
66
1,505
2,153
2,439
286
PCC Benefice fund
E
416.10 shares COIF Ethical Inv. Fund (6)
General
35
802
1,148
1,300
152
UNRESTRICTED FUNDS - total
8,463
153,672
278,306
344,827
41,521
INTEREST RECEIVED
General
17
TOTAL INVESTMENTS
15,456
209,718
517,730
617,967
75,237
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 2021		 Fund
S
t
a
t
u
s
Benefic'y
Fund
(income)
Income Received
in year
Acquisition Cost
Mid/NAV Market
Value at
01/01/2021
Bid Price Market
Value at
31/12/2021
Gain / (Loss)
over Period
excluding sales
& purchases
RESTRICTED ENDOWMENT FUNDS
Church Expenses fund
P
110 shares CBFIF Inv. Fund
(1)
General
65
74
2,254
2,573
319
Curacy endowment
P
2,646 shares CBFIF Inv. Fund
Curacy
1,573
2,449
54,209
61,881
7,672
P
156.18 shares CBFIF Inv. Fund
(2)
Curacy
93
1,308
3,200
3,653
453
Benefice endowment
P
156.18 shares CBFIF Inv. Fund
(2)
General
93
1,308
3,200
3,653
453
Princes Street Mission Rooms
P
7,049.79 shares COIF Ethical Inv. Fund (3)
General
594
642
19,445
22,028
2,584
P
112 shares CBFIF Inv. Fund
General
67
102
2,295
2,619
325
P
7,557 shares CBFIF Inv. Fund
General
4,491
50,163
154,823
176,733
21,911
RESTRICTED ENDOWMENT FUNDS - total
6,976
56,046
239,424
273,140
33,716
UNRESTRICTED FUNDS
Arthur Clark legacy
E
3,412.58 shares CBFIF Inv. Fund
Children's &
Youth Work
2,028
26,785
69,914
79,809
9,894
Marjorie Wilkinson bequest
E
9,473.52 shares CBFIF Inv. Fund
General
5,630
91,887
194,087
221,554
27,468
PCC General fund
E
12,713.13 shares COIF Ethical Inv. Fund (4)
General
704
32,693
11,004
39,725
3,721
PCC Curacy fund
E
780.52 shares COIF Ethical Inv. Fund (5)
Curacy
66
1,505
2,153
2,439
286
PCC Benefice fund
E
416.10 shares COIF Ethical Inv. Fund (6)
General
35
802
1,148
1,300
152
UNRESTRICTED FUNDS - total
8,463
153,672
278,306
344,827
41,521
INTEREST RECEIVED
General
17
TOTAL INVESTMENTS
15,456
209,718
517,730
617,967
75,237
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 2021		 Fund
S
t
a
t
u
s
Benefic'y
Fund
(income)
Income Received
in year
Acquisition Cost
Mid/NAV Market
Value at
01/01/2021
Bid Price Market
Value at
31/12/2021
Gain / (Loss)
over Period
excluding sales
& purchases
RESTRICTED ENDOWMENT FUNDS
Church Expenses fund
P
110 shares CBFIF Inv. Fund
(1)
General
65
74
2,254
2,573
319
Curacy endowment
P
2,646 shares CBFIF Inv. Fund
Curacy
1,573
2,449
54,209
61,881
7,672
P
156.18 shares CBFIF Inv. Fund
(2)
Curacy
93
1,308
3,200
3,653
453
Benefice endowment
P
156.18 shares CBFIF Inv. Fund
(2)
General
93
1,308
3,200
3,653
453
Princes Street Mission Rooms
P
7,049.79 shares COIF Ethical Inv. Fund (3)
General
594
642
19,445
22,028
2,584
P
112 shares CBFIF Inv. Fund
General
67
102
2,295
2,619
325
P
7,557 shares CBFIF Inv. Fund
General
4,491
50,163
154,823
176,733
21,911
RESTRICTED ENDOWMENT FUNDS - total
6,976
56,046
239,424
273,140
33,716
UNRESTRICTED FUNDS
Arthur Clark legacy
E
3,412.58 shares CBFIF Inv. Fund
Children's &
Youth Work
2,028
26,785
69,914
79,809
9,894
Marjorie Wilkinson bequest
E
9,473.52 shares CBFIF Inv. Fund
General
5,630
91,887
194,087
221,554
27,468
PCC General fund
E
12,713.13 shares COIF Ethical Inv. Fund (4)
General
704
32,693
11,004
39,725
3,721
PCC Curacy fund
E
780.52 shares COIF Ethical Inv. Fund (5)
Curacy
66
1,505
2,153
2,439
286
PCC Benefice fund
E
416.10 shares COIF Ethical Inv. Fund (6)
General
35
802
1,148
1,300
152
UNRESTRICTED FUNDS - total
8,463
153,672
278,306
344,827
41,521
INTEREST RECEIVED
General
17
TOTAL INVESTMENTS
15,456
209,718
517,730
617,967
75,237
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 2021		 Fund
S
t
a
t
u
s
Benefic'y
Fund
(income)
Income Received
in year
Acquisition Cost
Mid/NAV Market
Value at
01/01/2021
Bid Price Market
Value at
31/12/2021
Gain / (Loss)
over Period
excluding sales
& purchases
RESTRICTED ENDOWMENT FUNDS
Church Expenses fund
P
110 shares CBFIF Inv. Fund
(1)
General
65
74
2,254
2,573
319
Curacy endowment
P
2,646 shares CBFIF Inv. Fund
Curacy
1,573
2,449
54,209
61,881
7,672
P
156.18 shares CBFIF Inv. Fund
(2)
Curacy
93
1,308
3,200
3,653
453
Benefice endowment
P
156.18 shares CBFIF Inv. Fund
(2)
General
93
1,308
3,200
3,653
453
Princes Street Mission Rooms
P
7,049.79 shares COIF Ethical Inv. Fund (3)
General
594
642
19,445
22,028
2,584
P
112 shares CBFIF Inv. Fund
General
67
102
2,295
2,619
325
P
7,557 shares CBFIF Inv. Fund
General
4,491
50,163
154,823
176,733
21,911
RESTRICTED ENDOWMENT FUNDS - total
6,976
56,046
239,424
273,140
33,716
UNRESTRICTED FUNDS
Arthur Clark legacy
E
3,412.58 shares CBFIF Inv. Fund
Children's &
Youth Work
2,028
26,785
69,914
79,809
9,894
Marjorie Wilkinson bequest
E
9,473.52 shares CBFIF Inv. Fund
General
5,630
91,887
194,087
221,554
27,468
PCC General fund
E
12,713.13 shares COIF Ethical Inv. Fund (4)
General
704
32,693
11,004
39,725
3,721
PCC Curacy fund
E
780.52 shares COIF Ethical Inv. Fund (5)
Curacy
66
1,505
2,153
2,439
286
PCC Benefice fund
E
416.10 shares COIF Ethical Inv. Fund (6)
General
35
802
1,148
1,300
152
UNRESTRICTED FUNDS - total
8,463
153,672
278,306
344,827
41,521
INTEREST RECEIVED
General
17
TOTAL INVESTMENTS
15,456
209,718
517,730
617,967
75,237
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 2021		 Fund
S
t
a
t
u
s
Benefic'y
Fund
(income)
Income Received
in year
Acquisition Cost
Mid/NAV Market
Value at
01/01/2021
Bid Price Market
Value at
31/12/2021
Gain / (Loss)
over Period
excluding sales
& purchases
RESTRICTED ENDOWMENT FUNDS
Church Expenses fund
P
110 shares CBFIF Inv. Fund
(1)
General
65
74
2,254
2,573
319
Curacy endowment
P
2,646 shares CBFIF Inv. Fund
Curacy
1,573
2,449
54,209
61,881
7,672
P
156.18 shares CBFIF Inv. Fund
(2)
Curacy
93
1,308
3,200
3,653
453
Benefice endowment
P
156.18 shares CBFIF Inv. Fund
(2)
General
93
1,308
3,200
3,653
453
Princes Street Mission Rooms
P
7,049.79 shares COIF Ethical Inv. Fund (3)
General
594
642
19,445
22,028
2,584
P
112 shares CBFIF Inv. Fund
General
67
102
2,295
2,619
325
P
7,557 shares CBFIF Inv. Fund
General
4,491
50,163
154,823
176,733
21,911
RESTRICTED ENDOWMENT FUNDS - total
6,976
56,046
239,424
273,140
33,716
UNRESTRICTED FUNDS
Arthur Clark legacy
E
3,412.58 shares CBFIF Inv. Fund
Children's &
Youth Work
2,028
26,785
69,914
79,809
9,894
Marjorie Wilkinson bequest
E
9,473.52 shares CBFIF Inv. Fund
General
5,630
91,887
194,087
221,554
27,468
PCC General fund
E
12,713.13 shares COIF Ethical Inv. Fund (4)
General
704
32,693
11,004
39,725
3,721
PCC Curacy fund
E
780.52 shares COIF Ethical Inv. Fund (5)
Curacy
66
1,505
2,153
2,439
286
PCC Benefice fund
E
416.10 shares COIF Ethical Inv. Fund (6)
General
35
802
1,148
1,300
152
UNRESTRICTED FUNDS - total
8,463
153,672
278,306
344,827
41,521
INTEREST RECEIVED
General
17
TOTAL INVESTMENTS
15,456
209,718
517,730
617,967
75,237
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 2021		 Fund
S
t
a
t
u
s
Benefic'y
Fund
(income)
Income Received
in year
Acquisition Cost
Mid/NAV Market
Value at
01/01/2021
Bid Price Market
Value at
31/12/2021
Gain / (Loss)
over Period
excluding sales
& purchases
RESTRICTED ENDOWMENT FUNDS
Church Expenses fund
P
110 shares CBFIF Inv. Fund
(1)
General
65
74
2,254
2,573
319
Curacy endowment
P
2,646 shares CBFIF Inv. Fund
Curacy
1,573
2,449
54,209
61,881
7,672
P
156.18 shares CBFIF Inv. Fund
(2)
Curacy
93
1,308
3,200
3,653
453
Benefice endowment
P
156.18 shares CBFIF Inv. Fund
(2)
General
93
1,308
3,200
3,653
453
Princes Street Mission Rooms
P
7,049.79 shares COIF Ethical Inv. Fund (3)
General
594
642
19,445
22,028
2,584
P
112 shares CBFIF Inv. Fund
General
67
102
2,295
2,619
325
P
7,557 shares CBFIF Inv. Fund
General
4,491
50,163
154,823
176,733
21,911
RESTRICTED ENDOWMENT FUNDS - total
6,976
56,046
239,424
273,140
33,716
UNRESTRICTED FUNDS
Arthur Clark legacy
E
3,412.58 shares CBFIF Inv. Fund
Children's &
Youth Work
2,028
26,785
69,914
79,809
9,894
Marjorie Wilkinson bequest
E
9,473.52 shares CBFIF Inv. Fund
General
5,630
91,887
194,087
221,554
27,468
PCC General fund
E
12,713.13 shares COIF Ethical Inv. Fund (4)
General
704
32,693
11,004
39,725
3,721
PCC Curacy fund
E
780.52 shares COIF Ethical Inv. Fund (5)
Curacy
66
1,505
2,153
2,439
286
PCC Benefice fund
E
416.10 shares COIF Ethical Inv. Fund (6)
General
35
802
1,148
1,300
152
UNRESTRICTED FUNDS - total
8,463
153,672
278,306
344,827
41,521
INTEREST RECEIVED
General
17
TOTAL INVESTMENTS
15,456
209,718
517,730
617,967
75,237
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 2021		 Fund
S
t
a
t
u
s
Benefic'y
Fund
(income)
Income Received
in year
Acquisition Cost
Mid/NAV Market
Value at
01/01/2021
Bid Price Market
Value at
31/12/2021
Gain / (Loss)
over Period
excluding sales
& purchases
RESTRICTED ENDOWMENT FUNDS
Church Expenses fund
P
110 shares CBFIF Inv. Fund
(1)
General
65
74
2,254
2,573
319
Curacy endowment
P
2,646 shares CBFIF Inv. Fund
Curacy
1,573
2,449
54,209
61,881
7,672
P
156.18 shares CBFIF Inv. Fund
(2)
Curacy
93
1,308
3,200
3,653
453
Benefice endowment
P
156.18 shares CBFIF Inv. Fund
(2)
General
93
1,308
3,200
3,653
453
Princes Street Mission Rooms
P
7,049.79 shares COIF Ethical Inv. Fund (3)
General
594
642
19,445
22,028
2,584
P
112 shares CBFIF Inv. Fund
General
67
102
2,295
2,619
325
P
7,557 shares CBFIF Inv. Fund
General
4,491
50,163
154,823
176,733
21,911
RESTRICTED ENDOWMENT FUNDS - total
6,976
56,046
239,424
273,140
33,716
UNRESTRICTED FUNDS
Arthur Clark legacy
E
3,412.58 shares CBFIF Inv. Fund
Children's &
Youth Work
2,028
26,785
69,914
79,809
9,894
Marjorie Wilkinson bequest
E
9,473.52 shares CBFIF Inv. Fund
General
5,630
91,887
194,087
221,554
27,468
PCC General fund
E
12,713.13 shares COIF Ethical Inv. Fund (4)
General
704
32,693
11,004
39,725
3,721
PCC Curacy fund
E
780.52 shares COIF Ethical Inv. Fund (5)
Curacy
66
1,505
2,153
2,439
286
PCC Benefice fund
E
416.10 shares COIF Ethical Inv. Fund (6)
General
35
802
1,148
1,300
152
UNRESTRICTED FUNDS - total
8,463
153,672
278,306
344,827
41,521
INTEREST RECEIVED
General
17
TOTAL INVESTMENTS
15,456
209,718
517,730
617,967
75,237
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 2021		 Fund
S
t
a
t
u
s
Benefic'y
Fund
(income)
Income Received
in year
Acquisition Cost
Mid/NAV Market
Value at
01/01/2021
Bid Price Market
Value at
31/12/2021
Gain / (Loss)
over Period
excluding sales
& purchases
RESTRICTED ENDOWMENT FUNDS
Church Expenses fund
P
110 shares CBFIF Inv. Fund
(1)
General
65
74
2,254
2,573
319
Curacy endowment
P
2,646 shares CBFIF Inv. Fund
Curacy
1,573
2,449
54,209
61,881
7,672
P
156.18 shares CBFIF Inv. Fund
(2)
Curacy
93
1,308
3,200
3,653
453
Benefice endowment
P
156.18 shares CBFIF Inv. Fund
(2)
General
93
1,308
3,200
3,653
453
Princes Street Mission Rooms
P
7,049.79 shares COIF Ethical Inv. Fund (3)
General
594
642
19,445
22,028
2,584
P
112 shares CBFIF Inv. Fund
General
67
102
2,295
2,619
325
P
7,557 shares CBFIF Inv. Fund
General
4,491
50,163
154,823
176,733
21,911
RESTRICTED ENDOWMENT FUNDS - total
6,976
56,046
239,424
273,140
33,716
UNRESTRICTED FUNDS
Arthur Clark legacy
E
3,412.58 shares CBFIF Inv. Fund
Children's &
Youth Work
2,028
26,785
69,914
79,809
9,894
Marjorie Wilkinson bequest
E
9,473.52 shares CBFIF Inv. Fund
General
5,630
91,887
194,087
221,554
27,468
PCC General fund
E
12,713.13 shares COIF Ethical Inv. Fund (4)
General
704
32,693
11,004
39,725
3,721
PCC Curacy fund
E
780.52 shares COIF Ethical Inv. Fund (5)
Curacy
66
1,505
2,153
2,439
286
PCC Benefice fund
E
416.10 shares COIF Ethical Inv. Fund (6)
General
35
802
1,148
1,300
152
UNRESTRICTED FUNDS - total
8,463
153,672
278,306
344,827
41,521
INTEREST RECEIVED
General
17
TOTAL INVESTMENTS
15,456
209,718
517,730
617,967
75,237
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 2021		 Fund
S
t
a
t
u
s
Benefic'y
Fund
(income)
Income Received
in year
Acquisition Cost
Mid/NAV Market
Value at
01/01/2021
Bid Price Market
Value at
31/12/2021
Gain / (Loss)
over Period
excluding sales
& purchases
RESTRICTED ENDOWMENT FUNDS
Church Expenses fund
P
110 shares CBFIF Inv. Fund
(1)
General
65
74
2,254
2,573
319
Curacy endowment
P
2,646 shares CBFIF Inv. Fund
Curacy
1,573
2,449
54,209
61,881
7,672
P
156.18 shares CBFIF Inv. Fund
(2)
Curacy
93
1,308
3,200
3,653
453
Benefice endowment
P
156.18 shares CBFIF Inv. Fund
(2)
General
93
1,308
3,200
3,653
453
Princes Street Mission Rooms
P
7,049.79 shares COIF Ethical Inv. Fund (3)
General
594
642
19,445
22,028
2,584
P
112 shares CBFIF Inv. Fund
General
67
102
2,295
2,619
325
P
7,557 shares CBFIF Inv. Fund
General
4,491
50,163
154,823
176,733
21,911
RESTRICTED ENDOWMENT FUNDS - total
6,976
56,046
239,424
273,140
33,716
UNRESTRICTED FUNDS
Arthur Clark legacy
E
3,412.58 shares CBFIF Inv. Fund
Children's &
Youth Work
2,028
26,785
69,914
79,809
9,894
Marjorie Wilkinson bequest
E
9,473.52 shares CBFIF Inv. Fund
General
5,630
91,887
194,087
221,554
27,468
PCC General fund
E
12,713.13 shares COIF Ethical Inv. Fund (4)
General
704
32,693
11,004
39,725
3,721
PCC Curacy fund
E
780.52 shares COIF Ethical Inv. Fund (5)
Curacy
66
1,505
2,153
2,439
286
PCC Benefice fund
E
416.10 shares COIF Ethical Inv. Fund (6)
General
35
802
1,148
1,300
152
UNRESTRICTED FUNDS - total
8,463
153,672
278,306
344,827
41,521
INTEREST RECEIVED
General
17
TOTAL INVESTMENTS
15,456
209,718
517,730
617,967
75,237
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 2021
Fund S
t
a
t
u
s		 Represented By Benefic'y
Fund
(income)		 Income Received
in year
Acquisition Cost
Mid/NAV Market
Value at
01/01/2021		 Bid Price Market
Value at
31/12/2021
Gain / (Loss)
over Period
excluding sales
& purchases
RESTRICTED ENDOWMENT FUNDS
Church Expenses fund
P		 110 shares CBFIF Inv. Fund
(1)		 General 65 74 2,254 2,573 319
Curacy endowment P
P		 2,646 shares CBFIF Inv. Fund
156.18 shares CBFIF Inv. Fund
(2)		 Curacy
Curacy		 1,573
93		 2,449
1,308		 54,209
3,200		 61,881
3,653		 7,672
453
Benefice endowment P 156.18 shares CBFIF Inv. Fund
(2)		 General 93 1,308 3,200 3,653 453
Princes Street Mission Rooms P
P
P		 7,049.79 shares COIF Ethical Inv. Fund (3)
112 shares CBFIF Inv. Fund
7,557 shares CBFIF Inv. Fund		 General
General
General		 594
67
4,491		 642
102
50,163		 19,445
2,295
154,823		 22,028
2,619
176,733		 2,584
325
21,911
RESTRICTED ENDOWMENT FUNDS - total 6,976 56,046 239,424 273,140 33,716
UNRESTRICTED FUNDS
Arthur Clark legacy		 E 3,412.58 shares CBFIF Inv. Fund Children's &
Youth Work		 2,028 26,785 69,914 79,809 9,894
Marjorie Wilkinson bequest E 9,473.52 shares CBFIF Inv. Fund General 5,630 91,887 194,087 221,554 27,468
PCC General fund E 12,713.13 shares COIF Ethical Inv. Fund (4) General 704 32,693 11,004 39,725 3,721
PCC Curacy fund E 780.52 shares COIF Ethical Inv. Fund (5) Curacy 66 1,505 2,153 2,439 286
PCC Benefice fund E 416.10 shares COIF Ethical Inv. Fund (6) General 35 802 1,148 1,300 152
UNRESTRICTED FUNDS - total 8,463 153,672 278,306 344,827 41,521
INTEREST RECEIVED General 17
TOTAL INVESTMENTS 15,456 209,718 517,730 617,967 75,237

CBFIF = Central Board of Finance of the Church of England Investment Fund. COIF = Charities Official Investment Fund.

Details of the status of each Endowment Fund is shown above. Status: P = Perpetual; E = Expendable

Income from each Fund is expended as shown, in accordance with the restrictions (if any) for each fund.

Parochial Church Council of St John and St Stephen, Reading Notes to the Financial Statements for the year ended 31 December 2021

7 DEBTORS & PREPAYMENTS
Income tax recoverable - General Fund
Income tax recoverable - Other Funds
Prepayments:
Ecclesiastical Insurance - Church
Ecclesiastical Insurance - Church House
Castle Water
Other:
Church House 1 rent
Loan to church member - outstanding sum for repayment
IEL Tutors - rent
Reading Deanery Synod - Parish Share rebate
Other debtors
Total
8 CASH ON HAND AND AT BANK
Balance at year-end:
CAF Bank
Virgin Money Charity Deposit account
Community Savings & Loans
Reading Hydro Project
Cash on Hand
Cash/bank suspense (awaiting banking)
Total
9 LIABILITIES - AMOUNTS FALLING DUE WITHIN ONE YEAR
Creditors:
Ecotricity - Church electricity
Unrestricted
Ecotricity - Refectory gas
Unrestricted
Abacus Cleaning Services - church cleaning
Unrestricted
St John's School - gas
Unrestricted
Mark Sergent - roof repairs
Unrestricted
Independent Examiners Ltd. - independent examination fees
Unrestricted
BTS - photocopies
Unrestricted
Clergy expenses awaiting payment
Unrestricted
Vodafone - telephone & broadband
Unrestricted
IEL Tutors - key deposit
Unrestricted
Jack Stacy - Church House 1 garden maintenance
Unrestricted
ODBF - LLM fees
Unrestricted
Other creditors
Unrestricted
Total		 2021
2020
£
£
3,310
3,717
200
0
1,324
1,431
388
366
37
0
850
800
0
450
0
0
1,360
2,476
20
79
7,489
9,318
2021
2020
£
£
23,578
11,457
0
19,853
11,096
11,096
1,000
1,000
35,674
43,406
110
59
0
0
35,784
43,465
2021
2020
£
£
611
109
124
(24)
272
88
112
120
0
550
660
660
19
36
176
137
27
0
0
50
0
40
90
90
12
18
2,103
1,874
10 ANALYSIS OF ASSETS AND LIABILITIES 10 ANALYSIS OF ASSETS AND LIABILITIES Total Total
Unrestricted Restricted Endowment 2021 2020
Balances at year-end: £ £ £ £ £
Tangible Fixed Assets 0 200,369 307,650 508,019 508,019
Investments 344,827 0 273,140 617,967 517,730
Current Assets 42,100 1,174 0 43,274 52,783
Current Liabilities (2,103) 0 0 (2,103) (1,874)
Total 384,824 201,543 580,790 1,167,157 1,076,659

Any minor differences in totals are due to roundings.

(F9)

Parochial Church Council of St John and St Stephen, Reading Notes to the Financial Statements for the year ended 31 December 2021

11 MOVEMENT BY FUND

11 MOVEMENT BY FUND
Balance Gains & Balance
1 Jan 2021 Income Expenditure Transfers (Losses) 31 Dec 2021
Notes £ £ £ £ £ £
CAPITAL FUNDS
Endowment - freehold land & bldgs 5 307,650 0 0 0 0 307,650
Endowment - other 6 239,424 0 0 0 33,716 273,140
Total Endowment Funds 547,074 0 0 0 33,716 580,790
Unrestricted Capital Funds 6 278,306 0 0 25,000 41,521 344,827
Restricted Capital Funds
Freehold land & buildings 5 200,369 0 0 0 0 200,369
Total Capital Funds 1,025,750 0 0 25,000 75,237 1,125,986
UNRESTRICTED FUNDS
General 12 0 88,588 76,750 (9,837) 0 2,001
Mission 0 0 19,120 19,120 0 0
Other Funds:
Repair 0 0 0 0 0 0
Church House letting 26,144 18,870 757 (20,979) 0 23,278
Other legacies/gifts 12,196 0 0 (12,196) 0 0
Children's & youth work 9,583 2,028 546 0 0 11,065
Church Lunches 0 458 458 0 0 0
Sundry collections & donations 0 1,102 70 (1,032) 0 0
Parish Relief 266 0 17 0 0 250
Curacy 1,672 1,731 0 0 0 3,403
Total Unrestricted Funds 49,862 112,778 97,717 (24,925) 0 39,997
RESTRICTED FUNDS
Flowers 703 75 136 (75) 0 568
Sundry collections & donations 0 1,484 1,434 0 0 50
Leavers' Bibles 327 698 474 0 0 550
Other minor funds 17 0 12 0 0 5
Total Restricted Funds 1,048 2,256 2,056 (75) 0 1,174
TOTAL Revenue Funds 50,910 115,034 99,773 (25,000) 0 41,171
TOTAL Capital and Revenue Funds 1,076,659 115,034 99,773 0 75,237 1,167,157

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 or 2021). Parish Relief - used at discretion of clergy to provide assistance in cases of social need. Curacy - dividend income designatred for possible future 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.

Note that £75 was transferred from the Flower Fund (restricted) to the General Fund (unrestricted) by way of a prior year adjustment to correct a misallocation in 2020.

Any minor differences in totals are due to roundings.

(F10)

Parochial Church Council of St John and St Stephen, Reading Notes to the Financial Statements for the year ended 31 December 2021

12 ANALYSIS OF GENERAL FUND

12 ANALYSIS OF GENERAL FUND
(excl. Mission)
Opening Balance
Income
Donations
Tax Reclaim
Investment Income & bank interest
Other
Total Income
Expenditure
Parish Share
Grants made
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		 2021
£
0
60,128
13,727
11,696
3,038
88,588
45,324
496
4,305
9,316
122
2,317
7,918
1,621
5,331
76,750
11,839
(9,837)
2,001
2,001		 Higher/
£
Lower
-
778 Higher
194 Higher
672 Higher
3,341 Lower
1,697 Lower
3,059 Lower
2,104 Lower
2,045 Higher
91 Higher
217 Lower
117 Higher
2,693 Higher
620 Lower
919 Higher
135 Lower
1,562 Higher
3,563 Lower
with 2020
Comparison
2,001 Higher
2,001 Higher
2,001

Any minor differences in totals are due to roundings.

Notes

(a) All money given to mission is transferred from the General Fund (£19,120 in 2021).

(b) Transfers include £8,175 in 2021 (£5,699 in 2020) from the Church House Letting Fund in order to eliminate a shortfall on the General Fund.

There were additional transfers in 2021 of £1,035 from the June Russell Memorial Fund

(F11)

Parochial Church Council of St John and St Stephen, Reading Notes to the Financial Statements for the year ended 31 December 2021

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
Ras Morbat Clinic, Yemen
Reading Refugee Support Group
St John's School Projects
The Leposy Mission (match funding)
World Land Trust / Green Christian
Total "Mission Giving"
Other Outward Giving
Cancer Research UK (June Russell Memorial)
Christian Aid (via Church)
Church Missionary Society (Joel & Fiona Kelling appeal)
FAITH (Bed For a Night)
Hope Into Action
The Leprosy Mission
Peter & Nancy Crooks
Reading Deanery Synod
Reading Refugee Support Group (Gas Tower Exhibition)
St John's School (Bibles for School Leavers)
Simeon's Trustees
Yeldhall Manor
Other (incl. Parish Relief)
Total Other Outward Giving
GRAND TOTAL Outward Giving*		 2021
£
500
2,400
-
600
2,000
1,000
500
5,000
2,000
2,000
1,000
-
-
500
400
720
500
19,120
70
285
570
-
173
914
-
-
200
474
200
-
17
2,903
22,023		 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

(F12)